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                                                                    EXHIBIT 10.1

                             AUDIT COMMITTEE CHARTER

                                       OF

                       WARRIOR ENERGY SERVICES CORPORATION

I.       PURPOSE OF AUDIT COMMITTEE

         The purpose of the Audit Committee shall be (a) to assist the Board's
oversight of (i) the integrity of the Company's financial statements, (ii) the
Company's independent auditors' qualifications and independence, (iii) the
performance of the Company's independent auditors and the Company's internal
audit function and (iv) the Company's compliance with legal and regulatory
requirements, and (b) in accordance with applicable law, regulation and listing
standards, prepare a report for inclusion in the Company's annual proxy
statement.

II.      COMPOSITION OF AUDIT COMMITTEE

         The Audit Committee shall consist of not less than three members. Each
member of the Audit Committee shall be appointed by the Board or upon the
recommendation of the Nominating Committee, if such a committee has been
appointed, and shall satisfy the independence, financial literacy and expertise
requirements the Sarbanes-Oxley Act of 2002 (the "Act"), and including the rules
and regulations promulgated by the Securities and Exchange Commission
thereunder, and requirements of any National Securities Exchange or Automated
Quotation System on which the Company's securities may be traded or quoted as
appropriate.

         Vacancies on the Audit Committee shall be filled by majority vote of
the Board at the next meeting of the Board following the occurrence of the
vacancy. The members of the Audit Committee may be removed by a majority vote of
the Board.

III.     AUTHORITY AND RESPONSIBILITIES OF AUDIT COMMITTEE

         The following are the responsibilities of the Audit Committee:

         A. Independent Auditor

         o Sole authority to appoint, retain, compensate and oversee the work
         performed by the independent auditor for the purpose of preparing or
         issuing an audit report.
         o Adopt and ensure compliance with a pre-approval policy with respect
         to services provided by the independent auditor.
         o The independent auditor shall report directly to the Audit Committee
         and the Audit Committee shall oversee the resolution of disagreements
         between management and the independent auditors in the event that they
         arise.
         o Review and, in its sole discretion, approve in advance the services
         and terms of all audit and, as provided in the Act, all permitted
         non-audit services and relationships between the Company and the
         independent auditor, subject to, and in compliance with, the de minimis
         exception for non-audit services described in Section 10A(i)(1)(B) of
         the Securities Exchange Act of 1934, as amended (the "Exchange Act")
         and the applicable rules and regulations of the Securities and Exchange
         Commission. Approval of audit and permitted non-audit services may also
         be made by one or more members of the Audit Committee as shall be
         designated by the Audit Committee and the person(s) granting such
         approval shall report such approval to the Audit Committee not later
         than at the next scheduled meeting.

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         o At least annually, obtain and review a report by the independent
         auditor describing all relationships between the independent auditor
         and the Company contemplated by Independence Standards Board Standard
         No. 1, any required peer review within the prior five years, any
         inquiry or investigation of the firm by governmental or professional
         authorities within the prior five years, and the internal
         quality-control procedures of the independent auditor within the prior
         five years.
         o Discuss the foregoing report by the independent auditor to the extent
         it discloses any material issues, relationships or services that may
         impact the performance, objectivity or independence of the outside
         auditor, including the matters required to be discussed by Statement on
         Auditing Standards No. 61, and take, or recommend that the full board
         take, appropriate actions to ensure the independence of the outside
         auditor and any issues raised by the most recent internal
         quality-control review within the prior five years.
         o Evaluate with the assistance of the Company's management, the
         qualifications, performance and independence of the independent
         auditor, including the lead partner of the independent auditor and, if
         so determined by the Audit Committee, terminate the Company's
         engagement of the independent auditor.
         o Confirm the regular rotation of the audit partners as required by
         law.

         The Audit Committee should present its conclusions with respect to the
above matters, as well as its review of the lead partner of the independent
auditor to the Board.

         B. Financial Reporting and Accounting Policies

         o Review the annual audited and quarterly financial statements with the
         Company's management, its Disclosure Committee, if any, and the
         independent auditor, including the Company's disclosures under
         "Management's Discussion and Analysis of Financial Condition and
         Results of Operations." Review other relevant reports or financial
         information or correspondence submitted by the Company to any
         governmental body, or the public, including management certification as
         required by the Act.
         o Review any significant reporting issues and judgments made in
         connection with the Company's financial statements.
         o Review major issues regarding the Company's significant accounting
         principles, financial statement presentations and any changes thereto
         and the adequacy of the Company's internal controls and any special
         audit steps adopted in light of material control deficiencies. Consider
         the impact of acceptable alternative accounting principles that are
         communicated by the independent auditor, internal auditors or the
         Company's management.
         o Review the effect of regulatory and accounting initiatives, as well
         as off-balance sheet structures, on the financial statements of the
         Company.
         o Make a recommendation to the Board as to the inclusion of the
         Company's audited financial statements in the Company's Annual Report
         on Form 10-K.
         o Obtain assurance from the auditors that Section 10A(b) of the
         Exchange Act has not been implicated.

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         C. Audit Process of the Independent Auditor

         o Meet with the independent auditor prior to their commencing the audit
         to review the scope (i.e. nature of work performed by entity), planning
         and staffing of the audit.
         o Discuss with the independent auditor their required disclosure
         outlined by Generally Accepted Auditing Standards relating to the
         conduct of the audit, including consideration of the quality of the
         Company's accounting principles as applied in its financial reporting.
         o Review with the independent auditor any problems or difficulties and
         management's response; review the independent auditor's attestation and
         report on management's internal control report, from the time that such
         reports are prepared; and hold timely discussions with the independent
         auditors regarding the following:

                  o All critical accounting policies and practices;
                  o All alternative treatments of financial information within
                  generally accepted accounting principles that have been
                  discussed with management, ramifications of the use of such
                  alternative disclosures and treatments, and the treatment
                  preferred by the independent auditor; and
                  o Other material written communications between the
                  independent auditor and management including, but not limited
                  to, the management letter and schedule of unadjusted
                  differences.

         o Review any communication between the audit team and the auditor's
         national office respecting auditor accounting issues presented by the
         engagement.

         D. Evaluation

         o On an annual basis, the Audit Committee shall evaluate its
         performance relative to the Audit Committee's purpose, duties and
         responsibilities, as described by this Charter. A discussion of these
         findings shall take place at least annually at the first meeting of the
         Audit Committee.
         o The Audit Committee shall review and assess the adequacy of this
         Charter at least annually and recommend any proposed changes to the
         Board for approval.

         E. Other Matters

         o Establish clear hiring policies, compliant with governing laws or
         regulations for employees or former employees of the independent
         auditor.
         o Discuss the Company's earnings press releases, including review of
         "pro-forma" or "adjusted" non-GAAP information, as well as financial
         information and earnings guidance provided by the Company to analysts
         and rating agencies. This review may be done generally through a
         discussion of the types of information to be disclosed and type of
         presentations to be made, and the Audit Committee need not discuss in
         advance each earnings release or each instance in which the Company may
         provide earnings guidance.
         o Discuss the Company's policies with respect to risk assessment and
         risk management, including the Company's major financial accounting and
         risk exposures and the steps management has undertaken to control them.
         o Submit, when required, the Audit Committee report required by the
         rules of the Securities and Exchange Commission to be included in the
         Company's annual proxy statement.

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         o Establish and maintain procedures for the receipt, retention and
         treatment of complaints received by the Company regarding accounting,
         internal accounting controls or auditing matters.
         o Establish and maintain procedures for the confidential, anonymous
         submission by employees of the Company of concerns regarding
         questionable accounting or auditing matters.
         o Review all related party transactions (as defined in Item 404 of
         Regulation S-K under the Exchange Act) for potential conflicts of
         interests. All such transactions must be approved by the Committee.
         o Review with legal counsel any legal matters that may have an impact
         on financial statement, compliance policies, or internal controls and
         reports or inquiries received from government agencies.

IV.      MEETINGS OF THE AUDIT COMMITTEE

         The Audit Committee shall meet at least four times per year, or more
frequently as circumstances require or as the Audit Committee deems appropriate.

         The Audit Committee shall report regularly to the Board regarding the
execution of its duties and responsibilities, at a minimum, after each scheduled
meeting of the Audit Committee, and shall keep written minutes of its meetings,
which minutes shall be maintained with the books and records of the Board of
Directors of the Company. The Audit Committee may form and delegate authority to
subcommittees comprised of one or more members of the Audit Committee as the
Audit Committee deems appropriate.

         The chairman of the Audit Committee will preside at each meeting of the
Audit Committee and, in consultation with the other members of the Audit
Committee, shall set the frequency and length of each meeting and the agenda of
items to be addressed at each upcoming meeting. A majority of the members of the
Audit Committee present in person or by means of a conference telephone or other
communications equipment by means of which all persons participating in the
meeting can hear each other shall constitute a quorum.

         Periodically, the Audit Committee shall meet with the Company's
management (including the chief financial officers and chief accounting
officer), members of the Company's internal Corporate Audit Staff, if any, and
with the independent auditor in separate sessions.

V.       RESOURCES OF THE AUDIT COMMITTEE

         The Audit Committee shall have the authority, following notice to the
Chairman of the Board or President, to retain and compensate legal, accounting
or other advisors to advise the Audit Committee and assist it in fulfilling its
duties and responsibilities. The Audit Committee may request any officer or
employee of the Company, or the Company's outside counsel or independent
auditor, to attend a meeting of the Audit Committee or to meet with any members
of, or advisors to, the Audit Committee. Company shall provide funding for
payment of compensation to auditors for preparation of audit or other services,
as Committee determines. Absent actual knowledge to the contrary (which shall be
promptly reported to the Board), each member of the Committee shall be entitled
to assume and rely upon (i) the integrity of those persons and organizations
within and outside the Company from which it receives information, and (ii) the
accuracy of the financial and other information provided to the Committee by
such persons and organizations.

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VI.      OTHER

         While the Audit Committee has the responsibilities and powers set forth
in this Charter, it is not the duty of the Audit Committee to plan or conduct
audits, or to determine that the Company's financial statements are complete,
accurate and in accordance with generally accepted accounting principles or to
conduct investigations or ensure compliance with laws and regulations and the
code of conduct. This is the responsibility of the Company's management and the
independent auditor. The Company shall provide for appropriate funding, as
determined by the Committee, for payment of compensation to the independent
auditors for the purpose of preparing or issuing an audit report or performing
other audit, review or attest services for the Company, compensation to any
advisors employed by the Committee, and administrative expenses of the Committee
that are necessary or appropriate in carrying out its duties.

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                                                                    Exhibit 10.2

                       WARRIOR ENERGY SERVICES CORPORATION

                         COMPENSATION COMMITTEE CHARTER

ROLE

         The compensation committee (the "Committee") of Warrior Energy Services
Corporation (the "Company") is established to discharge the responsibilities of
the Board of Directors (the "Board" and, individually, each a "Director")
relating to compensation of the Company's executive officers and directors, to
produce an annual report on executive compensation for inclusion in the
Company's proxy statement, and to oversee and advise the Board on the adoption
of plans and policies that govern the Company's compensation programs.

MEMBERSHIP

         The membership of the Committee shall consist of at least three
independent Directors, each of whom is to be free of any relationship that, in
the opinion of the Board, would interfere with his or her exercise of
independent judgment. Applicable laws and regulations will be followed in
evaluating a member's independence. An "independent Director shall include those
directors who neither are officers or employees of the Company or its
subsidiaries nor have a relationship which, in the opinion of the Board, would
interfere with the exercise of independent judgment in carrying out the
responsibilities of a director, and who are otherwise "independent" under the
Nasdaq rules. In addition, it is expected that at least two members of the
Committee shall be (i) "non-employee directors" within the meaning of Rule 16b-3
promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), and (ii) "outside directors" within the meaning of Section 162(m) of the
Internal Revenue Code of 1986, as amended (the "Code") and, to the extent any
additional member is not a "non-employee director" or an "outside director," it
is expected that such member will abstain from all voting by the Committee. The
Board shall appoint the Committee's members and chairperson.

OPERATIONS

         The Committee shall meet at least four times a year. Additional
meetings may occur as the Committee or its chairperson deems advisable. The
Committee will cause to be kept adequate minutes of all its proceedings, and
will report its actions to the next meeting of the Board. Committee members will
be furnished with copies of the minutes of each Committee meeting. The Committee
is governed by the same rules regarding meetings (including meetings by
conference telephone or similar communications equipment), action without
meetings, notice, waiver of notice, and quorum and voting requirements as are
applicable to the Board.

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AUTHORITY

         The Committee shall have the resources and authority necessary to
discharge its duties and responsibilities, including the authority to retain
outside counsel or other experts or consultants, as it deems appropriate. The
Committee may form and delegate authority to subcommittees composed of one or
more of its members when appropriate. Any communications between the Committee
and legal counsel in the course of obtaining legal advice on Committee matters
will be considered privileged communications of the Company, and the Committee
will take all necessary steps to preserve the privileged nature of such
communications.

RESPONSIBILITIES

         The principal responsibilities and functions of the Committee are as
follows:

         o  Determine and set all forms of compensation for the Company's
            executive officers, directors and other key executives including the
            grant of stock options and restricted shares consistent with
            existing provisions included in the equity compensation plans
            approved by the Company's stockholders.
         o  Reward executive officers for the achievement of short and long-term
            corporate and individual performance, as measured by the attainment
            of specific goals for the creation of long-term shareholder value.
         o  Structure executive officer compensation levels to ensure that the
            Company is strategically and competitively positioned for the future
            by attracting, motivating, and retaining talented executive officers
            who improve the Company's competitiveness, expand its markets,
            pursue growth opportunities, and achieve other long-range business
            and operating objectives.
         o  Make recommendations to the Board with respect to the Company's
            incentive compensation plans and equity-based compensation plans.
         o  Administer the Company's equity-based compensation plans in
            accordance with the terms and conditions thereof, discharge any
            responsibilities imposed on, and exercise all rights and powers
            granted to, the Committee by any of these plans, and oversee the
            activities of the individuals and entities responsible for the
            day-to-day operation and administration of these plans. To the
            extent required in order for awards under the Long-Term Incentive
            Plan to be exempt from Section 16 of the Exchange Act by virtue of
            Rule 16b-3, such awards may be granted by, and the Plan may be
            administered by, the Board, including, without limitation, by the
            simultaneous grant of awards by the Committee and the Board.
         o  Approve issuances under, or any material amendment of, any tax
            qualified, non-discriminatory employee benefit plan or parallel
            nonqualified plan pursuant to which a director, officer, employee or
            consultant will acquire stock or options.
         o  Approve issuances under, or any material amendment of, any stock
            option or other similar plan pursuant to which a person not
            previously an employee or director of the Company, as an inducement
            material to the individual's entering into employment with the
            Company, will acquire stock or options.
         o  Consult with management to oversee regulatory compliance with
            respect to compensation matters, including overseeing the Company's
            policies on structuring compensation programs to preserve tax
            deductibility, and, as and when required, establishing performance
            goals and certifying that performance goals have been attained for
            purposes of Section 162(m) of the Code.

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         o  Review periodic reports from the Company's management on matters
            relating to the election or nomination of the Company's officers.
         o  Produce an annual Report of the Compensation Committee on Executive
            Compensation for the Company's annual proxy statement in compliance
            with applicable Securities and Exchange Commission and relevant
            listing authority rules and regulations.
         o  Annually evaluate the Committee's performance and this Charter.

The foregoing Charter was adopted by the Board to be effective as of the 19th
day of April 2006.

-------------------------
President

ATTEST:

-------------------------
Secretary,

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