GENERAL RELEASE AND SEVERANCE AGREEMENTGeneral Release and Severance Agreement • January 7th, 2009 • Warren Resources Inc • Crude petroleum & natural gas • New York
This GENERAL RELEASE AND SEVERANCE AGREEMENT (the “Agreement”) is entered into on and as of December 22, 2008 (the “Execution Date”); however, the same shall be effective, as more particularly provided for herein, on and as of January 1, 2009 (the “Effective Date”), by and between: (1) LLOYD G. DAVIES (“Davies” or “Employee”); and (2) WARREN RESOURCES, INC. (“WRI”), WARREN E&P, INC. (“WEP”) and WARREN RESOURCES OF CALIFORNIA, INC. (“WRC”), as their respective interests in the subject matter hereof appear. WRI, WEP and WRC may be referred to herein collectively as the “Company” or “Warren”. Davies, Employee, WRI, WEP, WRC, Company and Warren may be referred to herein individually as a “Party” and collectively as the “Parties.”
