Exhibit 10.2


 


VOTING AGREEMENT 


 


THIS VOTING AGREEMENT
(this “Agreement”), is dated as of February 6, 2014 by and among Pyramid Oil Company, a California corporation
(“Pyramid”), Pyramid Delaware Merger Subsidiary, Inc., a Delaware corporation and wholly owned subsidiary of
Pyramid (the “Delaware Merger Subsidiary”), Pyramid Merger Subsidiary, Inc., a Delaware corporation and wholly
owned subsidiary of Delaware Merger Subsidiary (the “Merger Subsidiary”), and each of the persons listed on
Schedule A hereto (each a “Stockholder” and collectively, the “Stockholders”).


 


WHEREAS, each of the
Stockholders is, as of the date hereof, the record and beneficial owner of that number of shares of (i) Common Stock, par value
$0.01 per share (the “Company Common Stock”), of Yuma Energy, Inc., a Delaware corporation (the “Company”),
(ii) Series A Preferred Stock, par value $0.01 per share (the “Series A Preferred Stock”) of the Company, or
(iii) Series B Preferred Stock, par value $0.01 per share (the “Series B Preferred Stock”) of the Company, set
forth opposite such Stockholder’s name on Schedule A hereto;


 


WHEREAS, Pyramid, the
Merger Subsidiary, the Delaware Merger Subsidiary and the Company concurrently with the execution and delivery of this Agreement
are entering into an Agreement and Plan of Merger and Reorganization, dated as of the date hereof (as the same may be amended or
supplemented, the “Merger Agreement”), providing for, among other things, the merger (the “Reincorporation
Merger”) of Pyramid with and into Delaware Merger Subsidiary, the merger (the “Merger”) of Merger
Subsidiary with and into the Company, and the Company as the surviving entity to the Merger upon the terms and subject to the conditions
set forth in the Merger Agreement (capitalized terms used and not otherwise defined herein shall have the meanings attributed thereto
in the Merger Agreement); and


 


WHEREAS, as a condition
to the willingness of Pyramid, Merger Subsidiary and Delaware Merger Subsidiary to enter into the Merger Agreement, and in order
to induce Pyramid, Merger Subsidiary and Delaware Merger Subsidiary to enter into the Merger Agreement, the Stockholders have agreed
to enter into this Agreement.


 


NOW, THEREFORE, in
consideration of the execution and delivery by Pyramid, Merger Subsidiary and Delaware Merger Subsidiary of the Merger Agreement
and the mutual representations, warranties, covenants and agreements contained herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:


 


Section 1.           Representations
and Warranties of the Stockholders. Each of the Stockholders hereby represents and warrants to Pyramid, Merger Subsidiary and
Delaware Merger Subsidiary, severally and not jointly, as follows:


 




    	 



    	 



    

 


(a)          Such
Stockholder is the beneficial owner (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)) and unless otherwise indicated, the record owner of the shares of Company Common Stock, Series
A Preferred Stock or Series B Preferred Stock (as may be adjusted from time to time pursuant to Section 5 hereof, the “Shares”)
set forth opposite such Stockholder’s name on Schedule A to this Agreement and such Shares represent all of the shares
of Company Common Stock, Series A Preferred Stock and Series B Preferred Stock beneficially owned by such Stockholder as of the
date hereof. For purposes of this Agreement, the term “Shares” shall include any shares of Company Common Stock issuable
to such Stockholder upon exercise or conversion of any existing right, contract, option, or warrant to purchase, or securities
convertible into or exchangeable for, Company Common Stock (“Stockholder Rights”) that are currently exercisable
or convertible or become exercisable or convertible and any other shares of Company Common Stock such Stockholder may acquire or
beneficially own during the term of this Agreement.


 


(b)          Such
Stockholder has all requisite power and authority and, if an individual, the legal capacity, to execute and deliver this Agreement
and to consummate the transactions contemplated hereby. This Agreement has been validly executed and delivered by such Stockholder
and, assuming that this Agreement constitutes the legal, valid and binding obligation of the other parties hereto, constitutes
the legal, valid and binding obligation of such Stockholder, enforceable against such Stockholder in accordance with its terms
(except insofar as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting creditors’ rights generally, or by principles governing the availability of equitable remedies).


 


(c)          The
execution and delivery of this Agreement by such Stockholder does not, and the performance of this Agreement by such Stockholder
will not, (i) if such Stockholder is a corporation or limited liability company, conflict with the certificate or articles of incorporation,
certificate of formation or limited liability company agreement or bylaws, or similar organizational documents of such Stockholder
as presently in effect (in the case of a Stockholder that is a legal entity), (ii) conflict with or violate any judgment, order,
decree, statute, law, ordinance, rule or regulation applicable to such Stockholder or by which it is bound or affected, (iii)(A)
result in any breach of or constitute a default (or an event that with notice or lapse of time or both would become a default)
under, (B) give to any other person any rights of termination, amendment, acceleration or cancellation of, or (C) result in the
creation of any pledge, claim, lien, charge, encumbrance or security interest of any kind or nature whatsoever upon any of the
properties or assets of the Stockholder under, any agreement, contract, indenture, note or instrument to which such Stockholder
is a party or by which it is bound or affected, except for such breaches, defaults or other occurrences that would not prevent
or materially delay the performance by such Stockholder of any of such Stockholder’s obligations under this Agreement, or
(iv) except for applicable requirements, if any, of the Exchange Act, the Securities Act of 1933, as amended (the “Securities
Act”), the New York Stock Exchange Market (the “NYSE”) or the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, as amended (the “HSR Act”), require any filing by such Stockholder with, or any permit, authorization,
consent or approval of, any governmental or regulatory authority, except where the failure to make such filing or obtain such permit,
authorization, consent or approval would not prevent or materially delay the performance by the Stockholder of any of such Stockholder’s
obligations under this Agreement.


 




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(d)          The
Shares and the certificates representing the Shares owned by such Stockholder are now and at all times during the term hereof will
be held by such Stockholder, or by a nominee or custodian for the benefit of such Stockholder, free and clear of all pledges, liens,
charges, claims, security interests, proxies, voting trusts or agreements, understandings or arrangements or any other encumbrances
whatsoever, except for any such encumbrances or proxies arising hereunder or under applicable federal and state securities laws
or under the agreements set forth on Schedule B hereto. Such Stockholder owns of record or beneficially no shares of Company
Common Stock other than such Stockholder’s Shares.


 


(e)          As
of the date hereof, neither such Stockholder, nor any of its respective properties or assets is subject to any order, writ, judgment,
injunction, decree, determination or award that would prevent or delay the consummation of the transactions contemplated hereby.


 


(f)          Such
Stockholder understands and acknowledges that Pyramid is entering into, and causing Merger Subsidiary to enter into, the Merger
Agreement in reliance upon such Stockholder’s execution and delivery of this Agreement.


 


Section 2.            Representations
and Warranties of Pyramid, Merger Subsidiary and Delaware Merger Subsidiary. Pyramid, Merger Subsidiary and Delaware Merger
Subsidiary hereby jointly and severally represent and warrant to the Stockholders as follows:


 


(a)          Each
of Pyramid, Merger Subsidiary and Delaware Merger Subsidiary is a corporation duly organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation. Each of Pyramid, Merger Subsidiary and Delaware Merger Subsidiary has
all requisite power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate
the transactions contemplated hereby, and has taken all necessary corporate action to authorize the execution, delivery and performance
of this Agreement. This Agreement has been duly executed and delivered by each of Pyramid, Merger Subsidiary and Delaware Merger
Subsidiary and, assuming that this Agreement constitutes the legal, valid and binding obligation of the other parties hereto, constitutes
the legal, valid and binding obligation of each of Pyramid, Merger Subsidiary and Delaware Merger Subsidiary, enforceable against
each of them in accordance with the terms of this Agreement (except insofar as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, or by principles governing
the availability of equitable remedies).


 




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(b)          The
execution and delivery of this Agreement by each of Pyramid, Merger Subsidiary and Delaware Merger Subsidiary does not, and the
performance of this Agreement by each of Pyramid, Merger Subsidiary and Delaware Merger Subsidiary will not, (i) conflict with
the articles or certificate of incorporation or bylaws or similar organizational documents of each of Pyramid, Merger Subsidiary
and Delaware Merger Subsidiary as presently in effect, (ii) conflict with or violate any judgment, order, decree, statute, law,
ordinance, rule or regulation applicable to Pyramid or Merger Subsidiary or by which either is bound or affected, (iii) (A) result
in any breach of or constitute a default (or an event that with notice or lapse of time or both would become a default) under,
(B) give to any other person any rights of termination, amendment, acceleration or cancellation of, or (C) result in the creation
of any pledge, claim, lien, charge, encumbrance or security interest of any kind or nature whatsoever upon any of the properties
or assets of Pyramid or Merger Subsidiary under, any agreement, contract, indenture, note or instrument to which Pyramid or Merger
Subsidiary is a party or by which it is bound or affected, except for such breaches, defaults or other occurrences that would not
prevent or materially delay the performance by Pyramid or Merger Subsidiary of their obligations under this Agreement, or (iv)
except for applicable requirements, if any, of the Exchange Act, the Securities Act, the NYSE or the HSR Act, require any filing
by Pyramid or Merger Subsidiary with, or any permit, authorization, consent or approval of, any governmental or regulatory authority,
except where the failure to make such filing or obtain such permit, authorization, consent or approval would not prevent or materially
delay the performance by Pyramid or Merger Subsidiary of their obligations under this Agreement.


 


(c)          As
of the date hereof, neither Pyramid or Merger Subsidiary, nor any of their respective properties or assets is subject to any order,
writ, judgment, injunction, decree, determination or award that would prevent or delay the consummation of the transactions contemplated
hereby.


 


Section 3.            Covenants
of the Stockholders. Each of the Stockholders, severally and not jointly, agrees as follows:


 


(a)          Such
Stockholder shall not, except as contemplated by the terms of this Agreement, and except for the pledge set forth in Schedule B,
sell, transfer, pledge, assign or otherwise dispose of, or enter into any contract, option or other arrangement (including any
profit-sharing arrangement) or understanding with respect to the sale, transfer, pledge, assignment or other disposition of, the
Shares (including any options or warrants to purchase Company Common Stock) to any person (any such action, a “Transfer”).
For purposes of clarification, the term “Transfer” shall include, without limitation, any short sale (including any
“short sale against the box”), pledge, transfer, and the establishment of any open “put equivalent position”
within the meaning of Rule 16a-1(h) under the Exchange Act. Notwithstanding the foregoing, (i) Transfers of Shares as bona fide
gifts, (ii) distributions of Shares to partners, members, stockholders, subsidiaries, affiliates, affiliated partnerships or other
affiliated entities of the undersigned, (iii) Transfers of Shares by will or intestacy, and (iv) Transfers of Shares to (A) members
of the undersigned’s immediate family or (B) a trust, the beneficiaries of which are the undersigned and/or members of the
undersigned’s immediate family, shall not be prohibited by this Agreement; provided that in the case of any such transfer
or distribution pursuant to clause (i), (ii), (iii) or (iv), each donee or distributee shall execute and deliver to Pyramid
a valid and binding counterpart to this Agreement.


 


(b)          Such
Stockholder shall not, except as contemplated by the terms of this Agreement (i) enter into any voting arrangement, whether by
proxy, voting agreement, voting trust, power-of-attorney or otherwise, with respect to the Shares or (ii) take any other action
that would in any way restrict, limit or interfere with the performance of his, her or its obligations hereunder or the transactions
contemplated hereby or make any representation or warranty of such Stockholder herein untrue or incorrect in any material respect.


 




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(c)          At
any meeting of the stockholders of the Company called to vote upon the Merger or in connection with any stockholder consent in
respect of a vote on the Merger, the Merger Agreement or any other transaction contemplated by the Merger Agreement or at any adjournment
thereof or in any other circumstances upon which a vote, consent or other approval (including by written consent) with respect
to such matters is sought, each Stockholder shall vote (or cause to be voted), or shall consent, execute a consent or cause to
be executed a consent in respect of, such Stockholder’s Shares in favor of the Merger, the adoption by the Company of the
Merger Agreement and the approval of any other transactions contemplated by the Merger Agreement.


 


(d)          Such
Stockholder agrees to permit Pyramid, Merger Subsidiary and Delaware Merger Subsidiary to publish and disclose in the Proxy Statement
and related filings under the securities laws such Stockholder’s identity and ownership of Shares and the nature of its commitments,
arrangements and understandings under this Agreement and any other information required by applicable law.


 


Section 4.            Grant
of Irrevocable Proxy; Appointment of Proxy.


 


(a)          Each
Stockholder hereby irrevocably grants to, and appoints, Michael D. Herman and any other individual who shall hereafter be designated
by Pyramid, such Stockholder’s proxy and attorney-in-fact (with full power of substitution), for and in the name, place and
stead of such Stockholder, to vote such Stockholder’s Shares, or grant a consent or approval in respect of such Shares, at
any meeting of stockholders of the Company or at any adjournment thereof or in any other circumstances upon which their vote, consent
or other approval is sought, in favor of the Merger, the adoption by the Company of the Merger Agreement and the approval of the
other transactions contemplated by the Merger Agreement.


 


(b)          Each
Stockholder represents that any proxies heretofore given in respect of such Stockholder’s Shares are not irrevocable, and
that any such proxies are hereby revoked.


 


(c)          Each
Stockholder hereby affirms that the irrevocable proxy set forth in this Section 4 is given in connection with the execution
of the Merger Agreement, and that such irrevocable proxy is given to secure the performance of the duties of such Stockholder under
this Agreement. Such Stockholder hereby further affirms that the irrevocable proxy is coupled with an interest and may under no
circumstances be revoked, subject to Section 7 herein. Such Stockholder hereby ratifies and confirms all that such irrevocable
proxy may lawfully do or cause to be done by virtue hereof. Such irrevocable proxy is executed and intended to be irrevocable in
accordance with applicable law. Such irrevocable proxy shall be valid until the termination of this Agreement pursuant to Section
7 herein.


 




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Section 5.            Adjustments
Upon Share Issuances, Changes in Capitalization. In the event of any change in Company Common Stock or in the number of outstanding
shares of Company Common Stock by reason of a stock dividend, subdivision, reclassification, recapitalization, split, combination,
exchange of shares or other similar event or transaction or any other change in the corporate or capital structure of the Company
(including, without limitation, the declaration or payment of an extraordinary dividend of cash, securities or other property),
and consequently the number of Shares changes or is otherwise adjusted, this Agreement and the obligations hereunder shall attach
to any additional shares of Company Common Stock, Stockholder Rights or other securities or rights of the Company issued to or
acquired by each of the Stockholders.


 


Section 6.           Further
Assurances. Each Stockholder will, from time to time, execute and deliver, or cause to be executed and delivered, such additional
or further transfers, assignments, endorsements, consents and other instruments as Pyramid or Merger Subsidiary may reasonably
request for the purpose of effectively carrying out the transactions contemplated by this Agreement and to vest the power to vote
such Stockholder’s Shares as contemplated by Section 3 herein.


 


Section 7.            Termination.
This Agreement, and all rights and obligations of the parties hereunder, shall terminate upon the earlier of (a) the Effective
Time; (b) the date upon which the Merger Agreement is terminated pursuant to Section 7.01 thereof, or (c) with respect to
any Stockholder, upon its delivery of written notice of termination to Pyramid following any amendment to the Merger Agreement
to decrease the Merger Consideration or otherwise alter the Merger Agreement in a manner adverse to the Stockholder in any material
respect unless such amendment has been consented to by stockholder in writing prior to such amendment. Notwithstanding the foregoing,
Sections 7, 8 and 9 hereof shall survive any termination of this Agreement.


 


Section 8.           Action
in Stockholder Capacity Only. No Stockholder executing this Agreement who is or becomes during the term hereof a director or
officer of the Company makes any agreement or understanding herein in his or her capacity as such director or officer. Each Stockholder
signs solely in his or her capacity as the record holder and beneficial owner of, or the trustee of a trust whose beneficiaries
are the beneficial owners of, such Stockholder’s Shares and nothing herein shall limit or affect any actions or omissions
taken by or fiduciary duties of, a Stockholder or any of its affiliates, in his or her capacity as an officer or director of the
Company to the extent permitted by the Merger Agreement and applicable law.


 


Section 9.            Miscellaneous.


 


(a)        Assignment.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties without
the prior written consent of the other parties, except that Merger Subsidiary may assign, in its sole discretion, any or all of
its rights, interests and obligations hereunder to Pyramid or to any direct or indirect wholly owned subsidiary of Pyramid. Subject
to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and their
respective successors and assigns. Each Stockholder agrees that this Agreement and the obligations of such Stockholder hereunder
shall attach to such Stockholder’s Shares and shall be binding upon any person or entity to which legal or beneficial ownership
of such Shares shall pass, whether by operation of law or otherwise, including without limitation such Stockholder’s heirs,
guardians, administrators or successors.


 




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(b)          Expenses.
All costs and expenses incurred in connection with this Agreement and the transactions contemplated thereby shall be paid by the
party incurring such expenses.


 


(c)          Amendments.
This Agreement may not be amended except vis-à-vis Pyramid and a Stockholder by an instrument in writing signed by Pyramid
and the applicable Stockholder and in compliance with applicable law.


 


(d)          Notice.
All notices and other communications hereunder shall be in writing and shall be deemed duly given if delivered personally, mailed
by registered or certified mail (return receipt requested), delivered by Federal Express or other nationally recognized overnight
courier service or sent via facsimile to the parties at the following addresses (or at such other address for a party as shall
be specified by like notice):


 


(i)       if to
Pyramid:


 


Pyramid Oil Company


2008 Twenty-First Street


Bakersfield, CA 93301


		Attention:	Michael D. Herman



		Facsimile:	(661) 325-0100



 


with a copy to (which shall
not constitute notice):


 


TroyGould PC


1801 Century Park East, 16th
Floor


Los Angeles, CA 90067


		Attention:	William D. Gould



		Facsimile:	(310) 201-4746



 


and


 


(ii)      if to a Stockholder,
to the address set forth under the name of such Stockholder on Schedule A hereto


 


with a copy to (which shall not constitute notice):


 


Jones & Keller, P.C.

1999 Broadway, Suite 3150

Denver, CO 80202


		Attention:	Reid A. Godbolt
	 	Facsimile:	(303) 573-8133









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(e)          Interpretation.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement. In this Agreement, unless a contrary intention appears, (i) the words “herein,” “hereof”
and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Section
or other subdivision and (ii) reference to any Section means such Section hereof. No provision of this Agreement shall be interpreted
or construed against any party hereto solely because such party or its legal representative drafted such provision.


 


(f)          Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which shall be
considered one and the same agreement. Delivery of an executed counterpart signature page of this Agreement by facsimile or by
e-mail of a PDF document is as effective as executing and delivering this Agreement in the presence of the other parties.


 


(g)          Entire
Agreement. This Agreement constitutes the entire agreement of the parties and supersedes all prior agreements and undertakings,
both written and oral, between the parties, or any of them, with respect to the subject matter hereof, and except as otherwise
expressly provided herein, is not intended to confer upon any other person any rights or remedies hereunder.


 


(h)          Governing
Law; Consent to Jurisdiction; Waiver of Trial by Jury. This Agreement shall be governed by, and construed in accordance with,
the laws of the State of Delaware, without regard to laws that may be applicable under conflicts of laws principles. Each of the
parties hereto irrevocably and unconditionally (i) agrees that any suit, action or other legal proceeding arising out of or relating
to this Agreement or any of the agreements delivered in connection herewith or the transactions contemplated hereby or thereby
shall be brought in the state courts of the State of Delaware (or, if such courts do not have jurisdiction or do not accept jurisdiction,
in the United States District Court located in the State of Delaware), (ii) consents to the jurisdiction of any such court in any
such suit, action or proceeding, and (iii) waives any objection that such party may have to the laying of venue of any such suit,
action or proceeding in any such court. Each of the parties hereto agrees that a final judgment in any such action or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9(d).
Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by
law.


 


EACH PARTY
ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION
HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (C)
IT MAKES SUCH WAIVERS VOLUNTARILY, AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION 9(h). 


 




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(i)          Specific
Performance. The parties to this Agreement agree that irreparable damage would occur in the event that any provision of this
Agreement was not performed in accordance with the terms of this Agreement and that Pyramid, Merger Subsidiary and Delaware Merger
Subsidiary shall be entitled to specific performance of the terms of this Agreement in addition to any other remedy at law or equity.


 


(j)          Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other authority
to be invalid, void, unenforceable or against its regulatory policy, the remainder of the terms, provisions, covenants and restrictions
of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated.


 


(k)          Several
Liability. Each party to this Agreement enters into this Agreement solely on its own behalf, each such party shall solely be
severally liable for any breaches of this Agreement by such party and in no event shall any party be liable for breaches of this
Agreement by any other party hereto.


 


(l)          Non-Recourse.
No past, present or future director, officer, employee, incorporator, member, partner, stockholder, agent, attorney, representative
or affiliate of any Stockholder hereto or of any of their respective affiliates shall have any liability (whether in contract or
in tort) for any obligations or liabilities of such party arising under, in connection with or related to this Agreement or for
any claim based on, in respect of, or by reason of, the transactions contemplated hereby; provided, however, that
nothing in this Section 9(l) shall limit any liability of any Stockholder hereto for its breaches of the terms and conditions
of this Agreement.


 


(m)         Waiver.
No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall
any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power
or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided
by applicable law.


 


[Signature Page Follows]


 




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IN WITNESS WHEREOF,
each of Pyramid, Merger Subsidiary and Delaware Merger Subsidiary has caused this Agreement to be signed by its officer thereunto
duly authorized and each Stockholder has signed this Agreement, all as of the date first written above.


 





	 	PYRAMID:  
	 	 
	 	Pyramid Oil Company,  
	 	a California corporation  
	 	 
	 	By:	 
	 	Name:	Michael D. Herman  
	 	Title:	Chairman, Interim President and  
	 	 	Chief Executive Officer  







 


	 	MERGER SUB:
	 	 
	 	Pyramid Merger Subsidiary, Inc.,
	 	a Delaware corporation
	 	 
	 	By:	 
	 	Name:	Michael D. Herman
	 	Title:	Chairman, President and Chief Executive Officer


 


	 	DELAWARE MERGER SUB:
	 	 
	 	Pyramid DELAWARE Merger Subsidiary, Inc., 
	 	a Delaware corporation
	 	 
	 	By:	 
	 	Name:	Michael D. Herman
	 	Title:	Chairman, President and Chief Executive Officer


 


SIGNATURE PAGE TO


VOTING AGREEMENT


 




    	 



    	 



    

 


VOTING AGREEMENT


STOCKHOLDER SIGNATURE PAGE


 


IN WITNESS WHEREOF,
each of Pyramid, the Merger Subsidiary and the Delaware Merger Subsidiary has caused this Agreement to be signed by its officer
thereunto duly authorized and each Stockholder has signed this Agreement, all as of the date first written above.


 


	 	STOCKHOLDER:
	 	 
	 	By:	 
	 	Name:	 


 


SIGNATURE PAGE TO


VOTING AGREEMENT




 




    	 



    	 



    

 


SCHEDULE A


 


OWNERSHIP OF SHARES


 


	Name and Address of

Stockholder	 	Number of

Company

Restricted Shares

Beneficially Owned	 	
        Number of Shares

of Company

Common Stock

Beneficially Owned
	 	Number of Shares

of Series A

Preferred Stock

Beneficially Owned	 	Number of Shares

of Series B

Preferred Stock

Beneficially Owned	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 


 




    	 



    	 



    

 


SCHEDULE B


 


LIST OF AGREEMENTS