SETTLEMENT AGREEMENTSettlement Agreement • January 27th, 2009 • Nanes Balkany Partners I LP • Crude petroleum & natural gas • Delaware
THIS SETTLEMENT AGREEMENT (the “Agreement”), is effective the 22nd day of January, 2009, among Toreador Resources Corporation, a Delaware corporation (the “Company”), Nanes Balkany Partners I LP, a Delaware limited partnership (“Nanes Balkany”), Nigel J. Lovett, an individual (“Lovett”), John M. McLaughlin, an individual (“McLaughlin”), Julien Balkany, an individual (“Balkany”), Craig M. McKenzie, an individual (“McKenzie”), and Peter Hill, an individual (“Hill”) (Balkany, McKenzie and Hill are each a “New Director” and collectively, the “New Directors”).
