Replies to post #21024 on Sierra Resource Group Inc. (fka SIRG)

[Actuate]

J. Rod's employment agreement requires a bonus at the end of each fiscal year. It is quite possible that the shares were merely provided to cover the bonus he was owed. It doesn't state that J. Rod received no cash payments in 2012, like the 2011 annual report does.

Effective January 1, 2012 the Company agreed to an Employment agreement with J. Rod Martin the Company’s CEO. 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.

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8681062

Specifically, on December 28, 2011 our Board of Directors had authorized the designation of our Series A Preferred Stock, consisting of 1,000,000 shares par value $0.001 per share (the “ Series A Preferred Stock ”), in order to provide compensation to our chairman and chief executive officer for their ongoing services, in lieu of cash compensation required by their employment agreements, effective January 1, 2012.

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8987505