In connection with his departure, the Company and Mr. Gobble entered into a General Release and Severance Agreement effective on and as of April 6, 2011 ("Severance Agreement"). The Severance Agreement provides, among other things, that in lieu of any and all benefits or payments otherwise provided under his employment agreement, Mr. Gobble will receive a cash payment of $99,261.75, representing 4 and one-half months of his current base salary. At Mr. Gobble's request, such severance amount shall be paid in nine equal bi-weekly installments of $11,029.08. The Company has also retained Mr. Gobble as a consultant and independent contractor for a period of twelve months, expiring on or about April 6, 2012, to perform such services as may be reasonably requested in writing by the Company related to oil and gas exploration, development, drilling and production in the areas in which the Company currently owns oil and gas properties. In order to assure Mr. Gobble's availability during the consulting period, the Company has agreed to pay him a non-refundable, fully-earned retainer (even if he does not provide any services) in the amount of $2,800 per month for up to ten (10) hours per month at the rate of $280 per hour. Additionally, Mr. Gobble's outstanding unvested stock options will vest ratably during the one year consulting period.