0001104659-05-023804 Sample Contracts

Contract
Warrant Agreement • May 16th, 2005 • Tipperary Corp • Crude petroleum & natural gas • Texas

This Warrant and the rights represented hereby shall not be transferable at any time unless (i) a registration statement under the Securities Act of 1933, as amended, shall be in effect with respect to this Warrant or the Shares issuable hereunder at such time, or (ii) the transfer is made in compliance with the provisions of Section 5.

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CHANGE IN CONTROL SEVERANCE AGREEMENT
Change in Control Severance Agreement • May 16th, 2005 • Tipperary Corp • Crude petroleum & natural gas • Colorado

THIS CHANGE IN CONTROL SEVERANCE AGREEMENT (this “Agreement”) is made effective as of April 1, 2005 by and between Tipperary Corporation, a Texas corporation (the “Company”) and David L. Bradshaw, Chairman, President and Chief Executive Officer (“Executive”).

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