SEC Contract Filing

Filing Date: 2020-12-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>4
<FILENAME>ex10-6.htm
<DESCRIPTION>FIRST AMENDMENT TO PAST SERVICE PAYMENT AND SUCCESS BONUS AGREEMENT
<TEXT>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="cei-8k_122320.htm">Camber Energy, Inc. 8-K</A></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
10.6</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>FIRST AMENDMENT TO CAMBER ENERGY, INC. </B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PAST
SERVICE PAYMENT AND SUCCESS BONUS AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
First Amendment to Camber Energy, Inc. Past Service Payment and Success Bonus Agreement (this &ldquo;<B><U>Agreement</U></B>&rdquo;),
dated and effective December 19, 2020 (the &ldquo;<B><U>Agreement Effective Date</U></B>&rdquo;), amends that certain Camber Energy,
Inc. Past Service Payment and Success Bonus Agreement dated August 31, 2020 (the &ldquo;<B><U>Past Service and Bonus Agreement</U></B>&rdquo;),
entered into by and between Camber Energy, Inc. (the &ldquo;<B><U>Company</U></B>&rdquo;) and the undersigned member of the Board
of Directors of the Company (the &ldquo;<B><U>Director</U></B>&rdquo;). Certain capitalized terms used below but not otherwise
defined shall have the meanings given to such terms in the Past Service and Bonus Agreement.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>,
the Company and Director desire to amend the Past Service and Bonus Agreement on the terms and conditions set forth below.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW,
THEREFORE</B>, in consideration of the premises and the mutual covenants, agreements, and considerations herein contained, and
other good and valuable consideration, which consideration the parties hereby acknowledge and confirm the receipt and sufficiency
thereof, the parties hereto agree as follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Amendment to Past Service and Bonus Agreement</U></B>. Effective as of the Agreement Effective Date, the Past Service and Bonus
Agreement shall be amended as follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The first &ldquo;<B><U>WHEREAS</U></B>&rdquo; of the Past Service and Bonus Agreement shall be amended and restated in its entirety
to read as follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;<B>WHEREAS</B>,
the Company, on February 3, 2020, entered into an