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Departure of Directors or Certain

On October26, 2015, PDC Energy, Inc. (the Company) announced that Gysle Shellum, Chief Financial Officer of the Company, will retire from the Company effective June30, 2016. He will remain the Companys Chief Financial Officer until a successor is appointed and will thereafter assist with transitional and other assigned matters through his retirement date. In connection with his retirement, Mr.Shellum entered into a retirement agreement with the Company pursuant to which, among other things, (i)he will receive a stay bonus of $700,000, (ii)he will be entitled to a pro-rated...