TERMINATION OF MANAGEMENT SERVICES AGREEMENT
This Agreement is made and entered into effective as of the 1
st
day of December, 2009 (the “Effective
Date”), by and between Ryland Oil Corporation (“Ryland”), Eternal Energy Corp. (“EERG”) and Brad Colby
(“Colby”). Ryland, EERG, Colby and Roadrunner Oil and Gas (USA), Inc. (“Roadrunner”) entered into that
certain Management Services Agreement effective as of the 1
st
day of October, 2008, (the “Management
Services Agreement”). By separate agreement, Roadrunner and Colby exercised their right to terminate the
Management Services Agreement among and between themselves. Ryland, EERG and Colby now desire to
exercise their right to terminate the Management Services Agreement among and between themselves.
NOW, THEREFORE, in consideration of the mutual covenants and agreements of the parties set forth in
this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. Termination of the Management Services Agreement . Pursuant to rights granted to them under the
Management Services Agreement, Ryland, EERG and Colby, for and on behalf of themselves and their
subsidiaries, affiliates, directors, officers, employees, agents, successors and assigns, individually and collectively,
hereby terminate the Management Services Agreement among and between themselves, as of the Effective
Date. Therefore, as of the Effective Date the parties hereto are hereby released and discharged from any and
all rights and obligations among and between themselves arising under the Management Services
Agreement. Further, as of the Effective Date, the parties hereto release and forever discharge each other and
each other's subsidiaries, affiliates, directors, officers, employees, agents, attorneys, successors and assigns from
any and all claims, rights, demands and damages of any kind or nature arising out of the execution, delivery,
performance, operation and/or terminatio