Sierra Resource Group Inc. (fka SIRG)

[Actuate]

Yes, in December 2011 they did agree to take the series A preferred stock "in lieu" of the compensation owed to them, which was made effective on Jan. 1, 2012!

The board of directors approved the current employment agreement with J. Rod on Feb. 20, 2012! AFTER THE SERIES A PREFERRED STOCK WAS ALREADY ISSUED!!!

It does not state they will not receive compensation until the mine opens!!!

On February 20, 2012 the board of directors approved and the Company agreed to an Employment agreement with J. Rod Martin, CEO. The employment agreement has a three-year term and is effective January 1, 2012. The agreement provides for an annual salary of $150,000 until the Company begins production at the Chloride Copper Mine at which time the rate shall increase to $250,000 per year. The agreement also includes a bonus to be determined in good faith by the Board of Directors at the end of each fiscal year with a target of $350,000 adjusted in accordance with performance.

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