0000077877-06-000004 Sample Contracts

Amendment to Employment Agreement Dated March 7, 2003 and Revocation of Stock Redemption Agreement dated October 15, 1991 as Amended
Employment Agreement • January 4th, 2006 • Petroleum Development Corp • Drilling oil & gas wells

This Amendment (the "Amendment") to the Employment Agreement dated the 7th day of March, 2003 (the "Agreement") and the Stock Redemption Agreement dated the 15th day of October, 1991 (the "Redemption Agreement"), as Amended, by and between Petroleum Development Corporation, a Nevada Corporation (the "Company"), and Steven R. Williams (the "Employee") is made and entered into this 29th day of December, 2005.

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Amendment to Employment Agreement and Revocation of Stock Redemption Agreement, both dated December 26, 2003
Employment Agreement • January 4th, 2006 • Petroleum Development Corp • Drilling oil & gas wells

This Amendment (the "Amendment") to the Employment Agreement dated the 26th day of December, 2003 (the "Agreement") and the Stock Redemption Agreement of the same date (the "Redemption Agreement") by and between Petroleum Development Corporation, a Nevada Corporation (the "Company"), and Eric R. Stearns (the "Employee") is made and entered into this 29th day of December, 2005.

Amendment to Employment Agreement and Revocation of Stock Redemption Agreement, both dated December 26, 2003
Employment Agreement • January 4th, 2006 • Petroleum Development Corp • Drilling oil & gas wells

This Amendment (the "Amendment") to the Employment Agreement dated the 26th day of December, 2003 (the "Agreement") and the Stock Redemption Agreement of the same date (the "Redemption Agreement") by and between Petroleum Development Corporation, a Nevada Corporation (the "Company"), and Darwin L. Stump (the "Employee") is made and entered into this 29th day of December, 2005.

Amendment to Employment Agreement and Revocation of Stock Redemption Agreement, both dated December 26, 2003
Employment Agreement • January 4th, 2006 • Petroleum Development Corp • Drilling oil & gas wells

This Amendment (the "Amendment") to the Employment Agreement dated the 26th day of December, 2003 (the "Agreement") and the Stock Redemption Agreement of the same date (the "Redemption Agreement") by and between Petroleum Development Corporation, a Nevada Corporation (the "Company"), and Thomas E. Riley (the "Employee") is made and entered into this 29th day of December, 2005.

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