EDWARD C. MARHANKA
This Employment Agreement is made as of May 1, 1997, by and between Toreador Royalty Corporation, a
Delaware corporation (the "Company"), and Edward C. Marhanka (the "Employee").
WHEREAS, the Company desires to continue to employ the Employee, and the Employee is willing to continue
to render his services to the Company on the terms and conditions with respect to such employment hereinafter
NOW, THEREFORE, in consideration of the premises and the mutual terms and conditions hereof, the
Company and the Employee hereby agree as follows:
1. Employment. The Company hereby employs the Employee and the Employee hereby accepts employment
with the Company upon the terms and conditions hereinafter set forth.
2. Employment and Duties. Subject to the terms hereof, the Company agrees to employ Employee to render full-
time services to the Company as Vice President and Treasurer of the Company. Employee shall have the duties
specified by the Bylaws of the Company for a Vice President and the Treasurer or are customarily associated
with such position, together with such other duties as may be assigned to Employee from time to time by the
Board of Directors of the Company (the "Board"). Employee agrees to devote his full time and attention to the
performance and fulfillment of such duties, functions and responsibilities as are necessary to discharge such duties,
functions and responsibilities, except for service for civic, charitable or non-profit organizations and other non-
competitive endeavors not interfering with his duties hereunder.
3. Term. This Agreement shall have a term of one (1) year commencing as of May 1, 1997, subject to earlier
termination as hereinafter provided. Upon mutual agreement of the parties, this Agreement may be extended for
additional one-year periods.
4. Compensation. As compensation for his services rendered under this Agreement, the Employee shall be
entitled to receive the following:
(a) The Employee