SUMMARY SHEET: 2008 PERFORMANCE GOALS AND PAYOUT AMOUNTS
1. Executive Officers’ Payout Amounts :
Nigel J. Lovett, President and Chief Executive Officer : $120,000 cash and 90,250 shares of
Michael J. FitzGerald, Executive Vice President – Exploration and Production : $188,000 cash and
58,500 shares of restricted stock.
Edward Ramirez, Senior Vice President – Exploration and Production : $154,000 cash and 48,000
shares of restricted stock.
Charles J. Campise, Senior Vice President – Finance : $141,000 cash and 50,000 shares of restricted
2. Performance Goals :
Toreador Resources Corporation (“Toreador”) notes that the following performance goals are part of
Toreador’s incentive program and do not correspond to any financial or performance guidance that Toreador
has proved or will provide and should not be considered as statements of Toreador’s expectations or
Oil and Gas Reserves – Toreador is to replace 110% of its 2008 oil and gas production with additional
proved reserves on a barrels of oil equivalent (“BOE”) basis;
Oil and Gas Production – 2008 oil and gas production is to be at least 1 million BOE;
General and Administrative Expenses – 2008 general and administrative expenses are to be not greater
than $13.6 million, subject to modification for additional expenditures subsequently approved by the board
Sarbanes-Oxley Compliance – Toreador will be in full compliance with the requirements of the Sarbanes-
Oxley legislation for the 2007 audit; and
Stock Price Performance – Toreador’s stock price performance in 2008 shall exceed the average stock
price performance of its peer group as determined by Longnecker & Associates.
Each of these five performance goals will be associated with 15% of the cash bonus amount and 15% of the
equity bonus amount set forth above. If only a portion of a performance goal is met, the Compens