<SUBMISSION>
<ACCESSION-NUMBER>0000950123-10-034420
<TYPE>DEF 14A
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20100513
<FILING-DATE>20100413
<DATE-OF-FILING-DATE-CHANGE>20100413
<EFFECTIVENESS-DATE>20100413
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ATLAS ENERGY, INC.
<CIK>0001279228
<ASSIGNED-SIC>4922
<IRS-NUMBER>510404430
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14A
<ACT>34
<FILE-NUMBER>001-32169
<FILM-NUMBER>10747603
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>WESTPOINTE CORPORATE CENTER ONE
<STREET2>1550 CORAOPOLIS HEIGHTS RD. 2ND. FLOOR
<CITY>MOONTOWNSHIP
<STATE>PA
<ZIP>15108
<PHONE>412-262-2830
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>WESTPOINTE CORPORATE CENTER ONE
<STREET2>1550 CORAOPOLIS HEIGHTS RD. 2ND. FLOOR
<CITY>MOONTOWNSHIP
<STATE>PA
<ZIP>15108
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ATLAS AMERICA INC
<DATE-CHANGED>20040209
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>w78021def14a.htm
<DESCRIPTION>SCHEDULE DEF 14A
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>SCHEDULE 14A</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the<BR>
Securities Exchange Act of 1934 (Amendment No. _____)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Filed by the Registrant <FONT style="font-family: Wingdings">&#254;</FONT><BR>
Filed by a Party other than the Registrant <FONT style="font-family: Wingdings">&#111;</FONT>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Preliminary Proxy Statement<BR>
<FONT style="font-family: Wingdings">&#111;</FONT> Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))<BR>
<FONT style="font-family: Wingdings">&#254;</FONT> Definitive Proxy Statement<BR>
<FONT style="font-family: Wingdings">&#111;</FONT> Definitive Additional Materials<BR>
<FONT style="font-family: Wingdings">&#111;</FONT> Soliciting Material Pursuant to &#167;240.14a-12

</DIV>
<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>ATLAS ENERGY, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt"><B>(Name of Registrant as Specified in Its Charter)</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">N/A</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt"><B>(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)</B></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Payment of Filing Fee (Check the appropriate box):
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#254;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No fee required</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Title of each class of securities to which transaction applies:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 4pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Aggregate number of securities to which transaction applies:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule
0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Proposed maximum aggregate value of transaction:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Total fee paid:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fee paid previously with preliminary materials.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Check box if any part of the fee is offset as provided by Exchange Act
Rule&nbsp;0-11(a)(2) and identify the filing for which the offsetting fee was paid previously.
Identify the previous filing by registration statement number, or the form or schedule and the
date of its filing.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amount Previously Paid:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Form, Schedule or Registration No.:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Filing Party:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Date Filed:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">NOTICE OF ANNUAL MEETING OF STOCKHOLDERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">GENERAL</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">PROPOSAL 1: ELECTION OF DIRECTORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">NON-DIRECTOR PRINCIPAL OFFICERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">CORPORATE GOVERNANCE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">DIRECTOR AND EXECUTIVE OFFICER COMPENSATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">SUMMARY COMPENSATION TABLE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">2009 GRANTS OF PLAN-BASED AWARDS TABLE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">2009 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">2009 OPTION EXERCISES AND STOCK VESTED TABLE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">2009 PENSION BENEFITS TABLE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">2009 DIRECTOR COMPENSATION TABLE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#013">INDEPENDENT PUBLIC ACCOUNTANTS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#014">SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#015">CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#016">OTHER MATTERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#017">STOCKHOLDERS SHARING AN ADDRESS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#018">ANNUAL REPORT ON FORM 10-K</A></TD></TR>
<TR><TD colspan="9"><A HREF="#019">STOCKHOLDER PROPOSALS OR DIRECTOR NOMINATIONS</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>





<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ATLAS ENERGY, INC.</B><BR>
Westpointe Corporate Center One<BR>
1550 Coraopolis Heights Road, 2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Floor<BR>
Moon Township, PA 15108
</DIV>

<!-- link1 "NOTICE OF ANNUAL MEETING OF STOCKHOLDERS" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>NOTICE OF ANNUAL MEETING OF STOCKHOLDERS</B>
</DIV>
<DIV align="center" style="font-size: 10pt"><B>To be held on Thursday, May&nbsp;13, 2010</B></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To the Stockholders of ATLAS ENERGY, INC.:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice is hereby given that the annual meeting of stockholders of ATLAS ENERGY, INC., a
Delaware corporation, will be held at Sofitel Philadelphia, 120 South 17<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Street,
Philadelphia, Pennsylvania 19103, May&nbsp;13, 2010, at 9:00 a.m. (the &#147;Meeting&#148;), for the following
purposes:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To elect three Class&nbsp;II directors to serve three-year terms expiring at the annual
meeting of stockholders in 2013.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To transact such other business as may properly be brought before the Meeting and any
adjournment thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Only stockholders of record on our books at the close of business on April&nbsp;5, 2010, will be
entitled to notice of and to vote at the Meeting or any adjournment thereof. A list of stockholders
entitled to vote at the Meeting will be available for inspection at the Meeting and for 10&nbsp;days
before the Meeting at our offices at Westpointe Corporate Center One, 1550 Coraopolis Heights Road,
2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Floor, Moon Township, Pennsylvania 15108. The stock transfer books will not be
closed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE ENCLOSED ADDRESSED ENVELOPE FOR RETURNING THE ENCLOSED PROXY REQUIRES NO POSTAGE AND YOU
MAY REVOKE YOUR PROXY AT ANY TIME BEFORE ITS USE. IF YOU PLAN TO ATTEND THE MEETING, YOU NEED TO
BRING A FORM OF PERSONAL IDENTIFICATION WITH YOU. IF YOUR STOCK IS HELD OF RECORD BY A BANK, BROKER
OR OTHER NOMINEE, YOU ALSO NEED TO BRING AN ACCOUNT STATEMENT INDICATING THAT YOU BENEFICIALLY OWN
THE SHARES AS OF THE RECORD DATE, OR A LETTER FROM THE RECORD HOLDER INDICATING THAT YOU
BENEFICIALLY OWN THE SHARES AS OF THE RECORD DATE, AND IF YOU WISH TO VOTE AT THE MEETING YOU MUST
FIRST OBTAIN FROM THE RECORD HOLDER A PROXY ISSUED IN YOUR NAME.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">By order of the Board of Directors,

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Lisa Washington, Secretary<BR>
April&nbsp;13, 2010

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Important Notice Regarding the Availability of Proxy Materials for<BR>
the Meeting to be held on May&nbsp;13, 2010:<BR>
The proxy statement and our 2009 Annual Report are available at:</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>http://phx.corporate-ir.net/phoenix.zhtml?c=176445&#038;p=irol-reportsAnnual</U>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ATLAS ENERGY, INC.</B><BR>
Westpointe Corporate Center One<BR>
1550 Coraopolis Heights Road, 2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Floor<BR>
Moon Township, PA 15108
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PROXY STATEMENT<BR>
ANNUAL MEETING OF STOCKHOLDERS
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>
<!-- link1 "GENERAL" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>GENERAL</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Introduction</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The annual meeting of stockholders of Atlas Energy, Inc. will be held on Thursday, May&nbsp;13,
2010 at 9:00 a.m. (the &#147;Meeting&#148;) at Sofitel Philadelphia, 120 South 17<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Street,
Philadelphia, Pennsylvania 19103, for the purposes set forth in the accompanying notice. Only
stockholders of record at the close of business on April&nbsp;5, 2010 will be entitled to notice of and
to vote at the Meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This statement is furnished in connection with the solicitation by our Board of Directors (the
&#147;Board&#148;) of proxies from holders of our common stock to be used at the Meeting, and at any and all
adjournments thereof. Proxies in the accompanying form, properly executed and returned to us, and
not revoked, will be voted at the Meeting and any and all adjournments thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proxy statement and the accompanying form of proxy are being sent on or about April&nbsp;13,
2010, to stockholders of record as of April&nbsp;5, 2010.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Changing or Revoking Proxy</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a proxy in the accompanying form is executed and returned, it may nevertheless be revoked
at any time before its use by giving written notice of revocation to our Secretary at our Moon
Township address stated herein, by submitting a later dated proxy or by attending the Meeting and
voting in person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Company&#146;s Shares Outstanding and Entitled to Vote at the Meeting</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There were 78,400,753 shares of our common stock outstanding as of the April&nbsp;5, 2010 record
date. Each of those shares is entitled to one vote on each matter to be voted on at the Meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Quorum</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The presence in person or by proxy of holders of our outstanding common stock representing not
less than a majority of the outstanding shares of common stock will constitute a quorum. We will
also treat as present for quorum purposes abstentions and shares held by a broker as nominee (i.e.,
in &#147;street name&#148;) that are represented by proxies at the Meeting, but that the broker fails to vote
on one or more matters as a result of incomplete instructions from the beneficial owner of the
shares (&#147;broker non-votes&#148;).
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Vote Required for Approval</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The affirmative vote of a plurality of the shares represented at the Meeting, in person or by
proxy, will be necessary for the election of directors. Approval of all other business properly
brought before the Meeting will require a favorable vote of a majority of the shares represented at
the Meeting in person or by proxy.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Votes may be cast for or withheld from each nominee for director.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>If you hold your shares in street name, it is critical that you cast your vote. </B>In the past,
if you held your shares in street name and you did not indicate how you wanted your shares voted in
the election of directors, your bank or broker was allowed to vote those shares on your behalf as
they felt appropriate. However, new regulations now prohibit your broker from voting uninstructed
shares on a discretionary basis for the election of directors. Therefore, if you do not instruct
your broker how to vote on the election of directors or if you abstain this year, your shares will
not be counted.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Expenses and Manner of Solicitation</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will bear the cost of soliciting proxies for the Meeting, including the cost of preparing,
assembling and mailing this proxy statement and the accompanying form of proxy. Our directors,
officers and employees may solicit proxies personally or by letter or telephone, but no director,
officer, or employee will be specially compensated for soliciting such proxies. We expect to
reimburse banks, brokers and other persons for their reasonable out-of-pocket expenses in handling
proxy materials for beneficial owners of our common stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>No Appraisal Rights</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stockholders who object to the proposals will not have appraisal, dissenters&#146; or similar
rights under Delaware law. These rights would permit a stockholder to seek a judicial determination
of the fair value of his or her shares and to compel their purchase for cash in that amount. If the
proposals described in this proxy statement are approved, that approval will be binding on all
stockholders, and objecting stockholders will have no alternative other than selling their shares
if they dissent from them.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SECURITY OWNERSHIP OF CERTAIN<BR>
BENEFICIAL OWNERS AND MANAGEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth the number and percentage of shares of common stock owned, as
of April&nbsp;5, 2010, by (a)&nbsp;each person who, to our knowledge, is the beneficial owner of more than 5%
of the outstanding shares of common stock, (b)&nbsp;each of our present directors and nominees, (c)&nbsp;each
of our executive officers serving during the 2009 fiscal year, and (d)&nbsp;all of our directors,
nominees and executive officers as a group. This information is reported in accordance with the
beneficial ownership rules of the Securities and Exchange Commission under which a person is deemed
to be the beneficial owner of a security if that person has or shares voting power or investment
power with respect to such security or has the right to acquire such ownership within 60&nbsp;days.
Shares of common stock issuable pursuant to options or warrants are deemed to be outstanding for
purposes of computing the percentage of the person or group holding such options or warrants but
are not deemed to be outstanding for purposes of computing the percentage of any other person.
Unless otherwise indicated in footnotes to the table, each person listed has sole voting and
dispositive power with respect to the securities owned by such person.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Common stock</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount and nature of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percent of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>beneficial ownership</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>class</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Beneficial owner</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Directors and nominees</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Carlton M. Arrendell</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,054</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mark C. Biderman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Edward E. Cohen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4,107,025</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(2)(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5.15</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Jonathan Z. Cohen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2,480,713</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(3)(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.13</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Jessica K. Davis</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">145</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Donald W. Delson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,129</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dennis A. Holtz</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,548</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gayle P.W. Jackson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harmon S. Spolan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,222</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ellen F. Warren</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">580</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bruce M. Wolf</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">186,903</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non-director executive officers</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Freddie M. Kotek</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">352,153</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Matthew A. Jones</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">423,692</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sean P. McGrath</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">16,258</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Richard D. Weber</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">511,153</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">All executive officers, directors and nominees as a group (15
persons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6,591,011</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8.08</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Other owners of more than 5% of outstanding shares</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Omega Advisors, Inc./Leon G. Cooperman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7,019,275</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8.98</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">BlackRock, Inc</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5,059,039</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6.47</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Iridian Asset Management LLC</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4,964,905</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6.35</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goldman Sachs Asset Management</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4,681,199</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(9)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5.99</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cobalt Capital Management, Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4,108,435</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(10)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5.26</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alan Fournier/Pennant Capital Management, L.L.C.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4,084,988</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(11)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5.23</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Less than 1%</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>The business address for each director, director nominee and executive officer is 1550 Coraopolis Heights Road&#151;2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP>
Floor, Moon Township, Pennsylvania 15108.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes (i)&nbsp;50,454 shares held in an individual retirement account of Betsy Z. Cohen, Mr.&nbsp;E. Cohen&#146;s spouse;
(ii)&nbsp;1,382,268 shares held by a charitable foundation of which Mr.&nbsp;E. Cohen, his spouse and their children serve as co-trustees; and (iii)&nbsp;141,378 shares held in trust for the benefit of Mr.&nbsp;E. Cohen&#146;s spouse and/or children. Mr.&nbsp;E. Cohen
disclaims beneficial ownership of the above referenced shares. 129,296 and 1,382,268 shares are also included in the
shares referred to in footnote 3 below.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes (i)&nbsp;129,296 shares held in a trust of which Mr.&nbsp;J. Cohen is a co-trustee and co-beneficiary and (ii)&nbsp;1,382,268
shares held by a charitable foundation of which Mr.&nbsp;J. Cohen, his parents and his sibling serve as co-trustees. These shares
are also included in the shares referred to in footnote 2 above. Mr.&nbsp;J. Cohen disclaims beneficial ownership of the above
referenced shares.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes shares issuable on exercise of options granted under our Plans in the following amounts: Mr.&nbsp;E. Cohen &#151;
1,307,500 shares; Mr.&nbsp;J. Cohen &#151; 853,000 shares; Mr.&nbsp;Kotek &#151; 179,500 shares; Mr.&nbsp;Jones &#151; 344,500 shares; Mr.
Weber&#151;454,539; and Mr.&nbsp;McGrath&#151;12,788.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>This number has been adjusted to exclude 129,296 shares and 1,382,268 shares which were included in both Mr.&nbsp;E.
Cohen&#146;s beneficial ownership amount and Mr.&nbsp;J. Cohen&#146;s beneficial ownership amount.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>This information is based on a Schedule&nbsp;13G/A filed with the SEC on February&nbsp;4, 2010. The address for Mr.&nbsp;Cooperman
and Omega Advisors, Inc. is 88 Pine Street, Wall Street Plaza, 31<SUP style="FONT-size: 85%; vertical-align: text-top">st </SUP>Floor, New York, New York 10005.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>This information is based on a Schedule&nbsp;13G filed with the SEC on January&nbsp;29, 2010. The address for BlackRock, Inc. is
40 East 52<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Street, New York, NY 10022.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>This information is based on a Schedule&nbsp;13G filed with the SEC on January&nbsp;28, 2010. The address for Iridian Asset
Management, LLC is 276 Post Road West, Westport, CT 06880-4704.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(9)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>This information is based on a Schedule&nbsp;13G filed with the SEC on February&nbsp;12, 2010. The address for Goldman Sachs
Asset Management is 32 Old Slip, New York, NY 10022.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(10)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>This information is based on a Schedule&nbsp;13G/A filed with the SEC on February&nbsp;11, 2010. The address for Cobalt Capital
Management, Inc. is 237 Park Avenue, Suite&nbsp;900, New York, New York 10017.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(11)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>This information is based on a Schedule&nbsp;13G filed with the SEC on February&nbsp;12, 2009. The address for Alan
Fournier/Pennant Capital Management, L.L.C is 26 Main Street, Suite&nbsp;203, Chatham, NJ 07928.</TD>
</TR>

</TABLE>


<!-- link1 "PROPOSAL 1: ELECTION OF DIRECTORS" -->
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PROPOSAL 1: ELECTION OF DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proposal 1 is to elect the following persons nominated by the Board to serve as our Class&nbsp;II
directors: Carlton M. Arrendell, Jonathan Z. Cohen and Donald W. Delson. Since no other nominations
were timely made, no other nominees will be considered at the Meeting. The Board is divided into
three classes with directors in each class serving three-year terms. The terms of directors in
Class&nbsp;II expire at the Meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The persons named in the enclosed proxy intend, in the absence of a contrary direction, to
vote for Messrs.&nbsp;Arrendell, J. Cohen and Delson as Class&nbsp;II directors to serve for three-year terms
expiring at the 2013 annual meeting of stockholders, or until their successors are elected or
appointed. Should any nominee become unable or refuse to accept nomination or election as a Class
II director, it is intended that the persons named as proxies will vote for the election of such
other person as the Board may recommend. The Board knows of no reason why any nominee might be
unable or refuse to accept nomination or election.
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information is set forth below regarding the principal occupation of each nominee and each of
our other directors. There are no family relationships among the nominees and directors of our
company, except that Edward E. Cohen, Chairman of the Board and Chief Executive Officer, is the
father of Jonathan Z. Cohen, Vice Chairman.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The Board unanimously recommends a vote &#147;FOR&#148; each of the nominees named in Proposal 1.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Nominees for Election for a Three-Year Term Expiring at the 2013 Annual Meeting:</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Carlton M. Arrendell</B>, 48, has been a director since February&nbsp;2004. Mr.&nbsp;Arrendell has been the
Chief Investment Officer and a Vice President of Full Spectrum of NY LLC since May&nbsp;2007. Prior to
joining Full Spectrum, Mr.&nbsp;Arrendell served as a special real estate consultant to the AFL-CIO
Investment Trust Corporation following six years of service as Investment Trust Corporation&#146;s Chief
Investment Officer. Mr.&nbsp;Arrendell is also an attorney admitted to practice law in Maryland and the
District of Columbia. Mr.&nbsp;Arrendell&#146;s investment expertise is valuable to our company and its
subsidiaries in the pursuit of acquisitions. In addition, the Board is benefitted by his strong
background in finance which enabled him to serve as the chairman of our audit committee until our
merger transaction when Atlas Energy Resources became our wholly-owned subsidiary, following our
merger transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Jonathan Z. Cohen</B>, 39, has been Vice Chairman of our Board of Directors since our formation in
September&nbsp;2000 and Chairman of our executive committee since October&nbsp;2009. Mr.&nbsp;Cohen has served as
the Vice Chairman of Atlas Energy Resources since its formation in June&nbsp;2006. Mr.&nbsp;Cohen has been
Vice Chairman of the Managing Board of Atlas Pipeline Partners GP since its formation in 1999 and
Vice Chairman of the Board of Atlas Pipeline Holdings GP since its formation in January&nbsp;2006. Mr.
Cohen has been a senior officer of Resource America since 1998, serving as the Chief Executive
Officer since 2004, President since 2003 and a director since 2002. Mr.&nbsp;Cohen has been Chief
Executive Officer, President and a director of Resource Capital Corp. since its formation in 2005,
and was the trustee and secretary of RAIT Financial Trust (a publicly-traded real estate investment
trust) from 1997, and its Vice Chairman from 2003, until December&nbsp;2006. Mr.&nbsp;Cohen is a son of
Edward E. Cohen. Mr.&nbsp;Cohen&#146;s financial, business and energy experience add strategic vision to our
Board to assist with our growth and development.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Donald W. Delson</B>, 59, has been a director since February&nbsp;2004. Mr.&nbsp;Delson has been a Senior
Advisor at Keefe, Bruyette &#038; Woods, Inc. since February&nbsp;2009 and served as a Managing Director,
Corporate Finance Group from 1997 to February&nbsp;2009. Before joining Keefe, Bruyette &#038; Woods, Inc.,
Mr.&nbsp;Delson served as a Managing Director in the Corporate Finance Group at Alex. Brown &#038; Sons from
1982 to 1997. He has served as a member of the Board of Directors of WSFS Bank since February&nbsp;2009.
Mr.&nbsp;Delson served as an independent member of the Managing Board of Atlas Pipeline Partners GP from
June&nbsp;2003 until May&nbsp;2004. Mr.&nbsp;Delson has served on our Board or that of our subsidiary for almost
seven years, a length of service which has provided him with extensive knowledge of our business
and industry. Additionally, Mr.&nbsp;Delson&#146;s extensive and varied background in energy and corporate
finance makes him especially suited to serve as the chairman of our compensation committee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Continuing Directors to Serve until the 2011 Annual Meeting:</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Edward E. Cohen</B>, 71, has been the Chairman of our Board of Directors and our Chief Executive
Officer since our organization in September&nbsp;2000. Mr.&nbsp;Cohen served as our President from September
2000 until October&nbsp;2009, when Atlas Energy Resources became our wholly-owned subsidiary following
our merger transaction. Mr.&nbsp;Cohen has served as the Chairman of the Board and Chief Executive
Officer
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">of Atlas Energy Resources since its formation in June&nbsp;2006. Mr.&nbsp;Cohen has been the Chairman of the
Managing Board of Atlas Pipeline Partners GP since its formation in 1999, and Chief Executive
Officer of Atlas Pipeline Partners from 1999 until January&nbsp;2009. Mr.&nbsp;Cohen has been the Chairman of
the Board of Atlas Pipeline Holdings GP, LLC, the general partner of Atlas Pipeline Holdings, L.P.,
since its formation in January&nbsp;2006, and Chief Executive Officer of Atlas Pipeline Holdings from
January&nbsp;2006 until February&nbsp;2009. In addition, Mr.&nbsp;Cohen has been Chairman of the Board of
Directors of Resource America, Inc. (a publicly-traded specialized asset management company) since
1990, and was its Chief Executive Officer from 1988 until 2004, and President from 2000 until 2003;
Chairman of the Board of Resource Capital Corp. (a publicly-traded real estate investment trust)
since its formation in September&nbsp;2005 until November&nbsp;2009 and still serves on its board; a director
of TRM Corporation (a publicly traded consumer services company) from 1998 to July&nbsp;2007; and
Chairman of the Board of Brandywine Construction &#038; Management, Inc. (a property management company)
since 1994. Mr.&nbsp;Cohen is the father of Jonathan Cohen. Mr.&nbsp;Cohen has been active in the oil and gas
business since the late 1970s. Mr.&nbsp;Cohen brings to the Board the vast experience that he has
accumulated through his activities as a financier, investor and operator in various parts of the
country.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Dennis A. Holtz</B>, 69, has been a director since February&nbsp;2004. Mr.&nbsp;Holtz maintained a corporate
and real estate law practice in Philadelphia and New Jersey from 1988 until his retirement in
January&nbsp;2008. Mr.&nbsp;Holtz has served on our Board for six years, since our spin-off from Resource
America and his length of service on our Board provides him with extensive knowledge of our
business and industry. Since our company interacts in the Appalachian region with many small firms,
Mr.&nbsp;Holtz&#146;s experience as an operator of his own law office is believed to provide insight into
interacting with smaller companies.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Harmon S. Spolan</B>, 74, has been a director since August&nbsp;2006. Since January&nbsp;2007, Mr.&nbsp;Spolan
has served as of counsel to the law firm Cozen O&#146;Connor, where he is chairman of the firm&#146;s
charitable foundation. From 1999 until January&nbsp;2007, Mr.&nbsp;Spolan was a member of the firm and served
as chairman of its Financial Services Practice Group and as co-marketing partner. Before joining
Cozen O&#146;Connor, Mr.&nbsp;Spolan served as President, Chief Operating Officer, and a director of
JeffBanks, Inc., and its subsidiary bank for 22&nbsp;years. Mr.&nbsp;Spolan has served as a director of
Coleman Cable, Inc., since November&nbsp;2007. Mr.&nbsp;Spolan served as director of TRM Corporation from
June&nbsp;2002 until April&nbsp;2008. Mr.&nbsp;Spolan&#146;s varied experience in law and finance over many decades is
highly compatible with the Board&#146;s emphasis on achieving diversity of age and professional
backgrounds.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Ellen F. Warren</B>, 53, has been a director since September&nbsp;2009. She is founder and President of
OutSource Communications, a marketing communications firm that services corporate and nonprofit
clients. Prior to founding OutSource Communications in August&nbsp;2005, she was President of Levy
Warren Marketing Media, a public relations and marketing firm she co-founded in March&nbsp;1998. She was
previously Vice President of Marketing/Communications for Jefferson Bank, a Philadelphia-based
financial institution, from September&nbsp;1992 to February&nbsp;1998. Ms.&nbsp;Warren served as an independent
member of the Board of Directors of Atlas Energy Resources from December&nbsp;2006 until September&nbsp;2009.
Ms.&nbsp;Warren is a seasoned director, having previously served on the board of our subsidiary, Atlas
Energy Resources from its formation until the merger. Ms.&nbsp;Warren brings management, communication
and leadership skills to our Board.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Continuing Directors to Serve until the 2012 Annual Meeting:</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Mark C. Biderman</B>, 64, has been a director since July&nbsp;2009. Mr.&nbsp;Biderman was Vice Chairman of
National Financial Partners Corp., a publicly-traded financial services company, from September
2008 to December&nbsp;2008. Before that, from November&nbsp;1999 to September&nbsp;2008, he was National
Financial&#146;s Executive Vice President and Chief Financial Officer. From May&nbsp;1987 to October&nbsp;1999,
Mr.&nbsp;Biderman
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">served as Managing Director and Head of the Financial Institutions Group at CIBC World Markets
Group, an investment banking firm, and its predecessor, Oppenheimer &#038; Co., Inc. Mr.&nbsp;Biderman is a
Chartered Financial Analyst. Mr.&nbsp;Biderman brings extensive financial expertise to the Board as well
as to the audit committee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Jessica K. Davis</B>, 33, has been a director since September&nbsp;2009. Ms.&nbsp;Davis was a corporate
litigation attorney with the law firm of Drinker Biddle &#038; Reath LLP from August&nbsp;2005 to June&nbsp;2009.
Before that, from September&nbsp;2002 through August&nbsp;2005, Ms.&nbsp;Davis with a corporate litigation
attorney with the law firm of Stroock &#038; Stroock &#038; Lavan LLP. Ms.&nbsp;Davis served as an independent
member of the Board of Directors of Atlas Energy Resources from March&nbsp;2009 until September&nbsp;2009.
Ms.&nbsp;Davis&#146;s relative youth, combined with her legal experience helps satisfy our commitment to a
board that is diversified by both profession and age.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Gayle P.W. Jackson</B>, 63, has been a director since July&nbsp;2009. Dr.&nbsp;Jackson has been President of
Energy Global, Inc., a consulting firm which specializes in corporate development, diversification
and government relations strategies for energy companies, since December&nbsp;2004. From 2001 to 2004,
Dr.&nbsp;Jackson served as Managing Director of FE Clean Energy Group, a global private equity
management firm that invests in energy companies and projects in Asia, Central and Eastern Europe
and Latin America. From 1985 to 2001, Dr.&nbsp;Jackson was President of Gayle P.W. Jackson, Inc., a
consulting firm that advised energy companies on corporate development and diversification
strategies and also advised national and international governmental institutions on energy policy.
From 1985 to 1995, she was also Chief of Staff of the International Energy Agency&#146;s Coal Industry
Advisory Board. Dr.&nbsp;Jackson served as Deputy Chairman of the Federal Reserve Bank of St. Louis in
2004-05 and was a member of the Federal Reserve Bank Board from 2000 to 2005. She is a member of
the Board of Directors of Ameren Corporation, a publicly-traded public utility holding company, and
of the Advisory Panel of Climate Change Capital Private Equity, a London-based private equity
buyout fund manager that invests in clean technology companies. Dr.&nbsp;Jackson served as an
independent member of the managing board of Atlas Pipeline Partners GP from March&nbsp;2005 until July
2009. Dr.&nbsp;Jackson brings to the Board her extensive experience in the energy industry, including
her previous service as a director of Atlas Pipeline Partners GP. Dr.&nbsp;Jackson also has a strong
background in finance.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Bruce M. Wolf</B>, 62, has been a director since September&nbsp;2009. He has been President of Homard
Holdings, LLC, a wine manufacturer and distributor, since September&nbsp;2003. Mr.&nbsp;Wolf has been of
counsel with Picadio, Sneath, Miller &#038; Norton, P.C., Pittsburgh, PA, since May&nbsp;2003. Additionally,
since June&nbsp;1999, Mr.&nbsp;Wolf has been a consultant in connection with energy and securities matters,
conducting research and providing expert testimony and litigation support. Mr.&nbsp;Wolf was a Senior
Vice President of Atlas Energy from October&nbsp;1998 to May&nbsp;1999 and, before that, Secretary and
General Counsel of Atlas Energy Group from 1980. Mr.&nbsp;Wolf served as an independent member of the
Board of Directors of Atlas Energy Resources from December&nbsp;2006 until September&nbsp;2009. Mr.&nbsp;Wolf is a
seasoned director, having previously served on the board of our subsidiary, Atlas Energy Resources,
from its formation until the merger. Mr.&nbsp;Wolf combines his extensive knowledge of energy with a
strong legal and financial knowledge.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have assembled a board of directors comprised of individuals who bring diverse but
complementary skills and experience to oversee our business. Our directors collectively have a
strong background in energy, finance, law, communications and management. Based upon the experience
and attributes of the directors discussed herein, our Board determined that each of the directors
should, as of the date hereof, serve on our Board.
</DIV>


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<!-- link1 "NON-DIRECTOR PRINCIPAL OFFICERS" -->
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NON-DIRECTOR PRINCIPAL OFFICERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board appoints principal officers each year at its annual meeting following the annual
stockholders meeting and from time to time as appropriate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Richard D. Weber</B>, 46, has been our President since October&nbsp;2009. Mr.&nbsp;Weber has been the
President, Chief Operating Officer and a director of Atlas Energy Resources and President, Chief
Operating Officer and a director of Atlas Energy Resources and Atlas Energy Management since their
formation in June&nbsp;2006. Mr.&nbsp;Weber served from June&nbsp;1997 until March&nbsp;2006 as Managing Director and
Group Head of the Energy Group of KeyBanc Capital Markets, a division of KeyCorp, and its
predecessor, McDonald &#038; Company Securities, Inc., where he oversaw activities with oil and gas
producers, pipeline companies and utilities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Matthew A. Jones</B>, 48, has been our Chief Financial Officer since March&nbsp;2005 and an Executive
Vice President since October&nbsp;2009. Mr.&nbsp;Jones has been the Chief Financial Officer of Atlas Energy
Resources and Atlas Energy Management since their formation. Mr.&nbsp;Jones served as the Chief
Financial Officer of Atlas Pipeline Holdings GP from January&nbsp;2006 until September&nbsp;2009 as the Chief
Financial Officer of Atlas Pipeline GP from March&nbsp;2005 to September&nbsp;2009. From 1996 to 2005, Mr.
Jones worked in the Investment Banking Group at Friedman Billings Ramsey, concluding as Managing
Director. Mr.&nbsp;Jones worked in Friedman Billings Ramsey&#146;s Energy Investment Banking Group from 1999
to 2005, and in Friedman Billings Ramsey&#146;s Specialty Finance and Real Estate Group from 1996 to
1999. Mr.&nbsp;Jones has served as a director of Atlas Pipeline Holdings GP since February&nbsp;2006. Mr.
Jones Mr.&nbsp;Jones is a Chartered Financial Analyst.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Sean P. McGrath</B>, 38, has been our Chief Accounting Officer and the Chief Accounting Officer of
Atlas Energy Resources since December&nbsp;2008. Mr.&nbsp;McGrath served as the Chief Accounting Officer of
Atlas Pipeline Holdings GP from January&nbsp;2006 until November&nbsp;2009 and as the Chief Accounting
Officer of Atlas Pipeline GP from May&nbsp;2005 until November&nbsp;2009. Mr.&nbsp;McGrath was the Controller of
Sunoco Logistics Partners L.P., a publicly-traded partnership that transports, terminals and stores
refined products and crude oil, from 2002 to 2005. From 1998 to 2002, Mr.&nbsp;McGrath was Assistant
Controller of Asplundh Tree Expert Co., a utility services and vegetation management company. Mr.
McGrath is a Certified Public Accountant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Eugene N. Dubay</B>, 61, has been our Executive Vice President since October&nbsp;2009. Before that he
was our Senior Vice President from January&nbsp;2009 to October&nbsp;2009. Mr.&nbsp;Dubay has also been President
and Chief Executive Officer of Atlas Pipeline Partners and Atlas Pipeline Mid-Continent, LLC since
January&nbsp;2009. Mr.&nbsp;Dubay has served as a member of the managing board of Atlas Pipeline Partners GP
since October&nbsp;2008, where he served as an independent member until his appointment as President and
Chief Executive Officer. Mr.&nbsp;Dubay has been the Chief Executive Officer and President of Atlas
Pipeline Holdings since February&nbsp;2009 and has served as a director of Atlas Pipeline Holdings since
February&nbsp;2009. Mr.&nbsp;Dubay was the Chief Operating Officer of Continental Energy Systems LLC (a
successor to SEMCO Energy) from 2002 to January&nbsp;2009. Mr.&nbsp;Dubay has also held positions with ONEOK,
Inc. and Southern Union Company and has over 20&nbsp;years experience in midstream assets and utilities
operations, strategic acquisitions, regulatory affairs and finance. Mr.&nbsp;Dubay is a certified public
accountant and a graduate of the U.S. Naval Academy.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Freddie M. Kotek</B>, 54, has been an Executive Vice President since February&nbsp;2004 and served as a
director from September&nbsp;2001 until February&nbsp;2004. Mr.&nbsp;Kotek has been Chairman of Atlas Resources,
LLC since September&nbsp;2001 and has served as an Executive Vice President since October&nbsp;2009. He has
also served as Chief Executive Officer and President of Atlas Resources since January&nbsp;2002. Mr.
Kotek was our Chief Financial Officer from February&nbsp;2004 until March&nbsp;2005. Mr.&nbsp;Kotek was a Senior
Vice
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">President of Resource America from 1995 until May&nbsp;2004 and President of Resource Leasing, Inc. (a
wholly-owned subsidiary of Resource America) from 1995 until May&nbsp;2004.
</DIV>

<!-- link1 "CORPORATE GOVERNANCE" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CORPORATE GOVERNANCE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Information Concerning our Company and the Board of Directors</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our common stock is listed for trading on the Nasdaq Global Market under the symbol &#147;ATLS.&#148;
The Board held 13 meetings during fiscal 2009 and one special meeting in connection with our
merger, whereby our merger subsidiary merged with Atlas Energy Resources, LLC (&#147;ATN&#148;), with ATN
surviving as our wholly-owned subsidiary (the &#147;Merger&#148;). Each of the directors attended at least
75% of the meetings of the Board and all meetings of the committees on which the director served
during fiscal 2009. The Board currently consists of eleven members, nine of whom are independent
directors as defined by Nasdaq standards and the Securities Act. The nine independent directors are
Ms.&nbsp;Davis, Dr.&nbsp;Jackson, Ms.&nbsp;Warren and Messrs.&nbsp;Arrendell, Biderman, Delson, Holtz, Spolan and Wolf.
Messrs.&nbsp;William R. Bagnell and Nicholas A. DiNubile served as independent directors during fiscal
2009 until they determined not to stand for re-election at our annual meeting of our stockholders
held on July&nbsp;13, 2009. Additionally, Mr.&nbsp;Walter C. Jones served as an independent director from
September&nbsp;2009 until his resignation in March&nbsp;2010 to serve as the United States Executive Director
of the African Development Bank.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We do not have a formal policy regarding Board member attendance at our annual meeting of
stockholders. Two of the directors attended last year&#146;s annual meeting of stockholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our chairman of the board is also our chief executive officer. We believe that by having this
combined position, our chief executive officer chairman serves as a bridge between management and
the board, ensuring that both act with a common purpose. In addition, we believe that the combined
position facilitates our company&#146;s focus on both long- and short- term strategies. Further, we
believe that the advantages of having a chief executive officer chairman with extensive knowledge
of our company, as opposed to a relatively less informed independent chairman, outweigh potential
disadvantages. Additionally, of our 11 current Board members, nine have been deemed to be
independent by our Board. Accordingly, we believe that our super-majority of independent directors
provides sufficient independent oversight of our management. Our compensation committee annually
reviews our corporate goals and presents our chief executive officer&#146;s compensation for board
approval, and our bylaws allow special meetings to be called by a majority of our directors, the
president or vice chairman, rather than solely by the chairman or the chief executive officer.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We administer our risk oversight function through our audit committee as well as through our
board of directors as a whole. Our audit committee is empowered to appoint and oversee our
independent auditors, monitor the integrity of our financial reporting processes and systems of
internal controls and provide an avenue of communication among our independent auditors,
management, our internal auditing department and our board of directors. Additionally, reports are
provided during our board meetings by the individuals who oversee risk management in liquidity and
credit areas, environmental, safety, litigation and other operational areas.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Communications with the Board</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board has also established a process for stockholders to send communications to it. Any
stockholder who wishes to send a communication to the Board should write to our Secretary at our
Moon Township address stated herein. Beneficial owners must include in their communication a good
faith
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">representation that they are beneficial owners of our common stock. Our Secretary will promptly
forward to the Chairman of the Board any and all such stockholder communications.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Board Committees</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board has four standing committees which are the audit committee, the compensation
committee, the nominating and governance committee and the investment committee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Audit Committee. </I>The principal functions of the audit committee are to assist the Board in
monitoring the integrity of our financial statements, the independent auditor&#146;s qualifications and
independence, the performance of our independent auditors and our compliance with legal and
regulatory requirements. The audit committee reviews the adequacy of our internal controls. The
audit committee also reviews the scope and effectiveness of audits by the independent accountants
and has the sole authority to retain and terminate our independent auditors and to approve the
compensation paid to the independent auditors. The audit committee held five meetings during fiscal
2009. The audit committee is also responsible for overseeing our internal audit function. All of
the members of the audit committee are independent directors as defined by Nasdaq rules. The
members of the audit committee are Ms.&nbsp;Davis, Dr.&nbsp;Jackson and Messrs.&nbsp;Biderman and Delson, with Mr.
Biderman acting as the chairman. The Board has determined that Mr.&nbsp;Delson is an &#147;audit committee
financial expert,&#148; as defined by SEC rules. The Board previously adopted a written charter for the
audit committee, a current copy of which is available on our web site at
<U>www.atlasenergy.com</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Compensation Committee. </I>The principal functions of the compensation committee are to
administer our employee benefit plans (including incentive plans), annually evaluate salary grades
and ranges, establish guidelines concerning average compensation increases, establish performance
criteria for and evaluate the performance of our chief executive officer and approve compensation
of all officers and directors. The compensation committee held ten meetings during fiscal 2009. The
compensation committee is comprised solely of independent directors, consisting of Ms.&nbsp;Warren and
Messrs.&nbsp;Delson, Arrendell and Holtz, with Mr.&nbsp;Delson acting as the chairman. The Board previously
adopted a written charter for the compensation committee, a current copy of which is available on
our web site at <U>www.atlasenergy.com.</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Nominating and Governance Committee. </I>The principal functions of the nominating and governance
committee are to recommend persons to be selected by the Board as nominees for election as
directors, recommend persons to be elected to fill any vacancies on the Board, consider and
recommend to the Board qualifications for the office of director and policies concerning the term
of office of directors and the composition of the Board and consider and recommend to the Board
other actions relating to corporate governance. The nominating and governance committee held two
meetings during fiscal 2009. The nominating and governance committee is comprised solely of
independent directors, consisting of Ms.&nbsp;Warren and Messrs.&nbsp;Arrendell, Holtz and Spolan, with Mr.
Holtz acting as the chairman.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The nominating and governance committee has adopted a charter with respect to its nominating
function, a current copy of which is available on our web site at <U>www.atlasenergy.com</U>. The
nominating and governance committee will consider nominees recommended by stockholders for the 2011
annual meeting of stockholders if submitted in writing to our Secretary in accordance with rules
promulgated by the SEC and our bylaws.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rule&nbsp;14a-8 under the Securities Exchange Act sets forth the eligibility requirements and the
procedures that must be followed for stockholder director nominations or other proposals to be
included in a public company&#146;s proxy materials. Pursuant to the rule, nominations or other
proposals submitted for inclusion in our 2011 proxy materials must be received by us at Westpointe
Corporate Center One, 1550 Coraopolis Heights Road, 2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Floor, Moon Township,
Pennsylvania 15108, Attention: Secretary, on or
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">before December&nbsp;15, 2010. Nominations or other proposals must comply with all the requirements of
Rule&nbsp;14a-8.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A stockholder who wishes to present a matter for action at our 2011 annual meeting, but does
not want to include it in our proxy materials, must deliver to our Secretary on or before January
14, 2011, which date is 90&nbsp;days before the first anniversary of the mailing date of this proxy
statement, a notice containing the information required by the advance notice and other provisions
of our bylaws. A stockholder who wishes to present one or more directors for nomination at our 2011
annual meeting, but does not want to include it in our proxy materials, must deliver a notice
containing the information required by the advance notice and other provisions of our bylaws,
including the name of the person(s) to be nominated, to our Secretary on or before January&nbsp;14,
2011. A copy of the bylaws may be obtained by directing a written request to us at Westpointe
Corporate Center One, 1550 Coraopolis Heights Road, 2nd Floor, Moon Township, Pennsylvania 15108,
Attention: Secretary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Nomination Process of the Nominating and Governance Committee</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The nominating and governance committee identifies director nominees by first evaluating the
current members of the Board willing to continue in service. Current members with skills and
experience that are relevant to our business and are willing to continue in service are considered
for re-nomination, balancing the value of continuity of service by existing members of the Board
with that of obtaining a new perspective. If any member of the Board does not wish to continue in
service, or if the nominating and governance committee or Board decides not to re-nominate a member
for re-election, or if we decide to expand the Board, the nominating and governance committee
identifies the desired skills and experience of a new nominee consistent with the nominating and
governance committee&#146;s criteria for Board service. Current members of the Board and management are
polled for their recommendations. Research may also be performed or third parties retained to
identify qualified individuals. To date, we have not engaged third parties to identify or evaluate
potential nominees; however, we may in the future choose to do so.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The nominating and governance committee will consider nominees recommended by stockholders,
and any such recommendations should be forwarded to our Secretary in writing at our executive
offices as identified in this proxy statement. Such recommendations should include the following
information:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such information as may be reasonably necessary to determine whether the recommended
director candidate is independent from the stockholder that has recommended the candidate;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such information as may be reasonably necessary to determine whether the director
candidate is qualified to serve on the Board; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such information as may be reasonably necessary to determine whether the director
candidate meets the independence standards of the Nasdaq National Market.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will also request such other information as may reasonably be required to determine whether
each person recommended by a stockholder meets the criteria listed below and to enable us to make
appropriate disclosures to the stockholders entitled to vote in the election of directors. Any
recommendations received from stockholders will be evaluated in the same manner as potential
nominees suggested by board members, management or other parties.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The nominating and governance committee has not adopted a formal policy with regard to the
consideration of diversity in identifying director nominees. The nominating and governance
committee evaluates independent director candidates based upon a number of criteria, including:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>commitment to promoting the long-term interests of our stockholders and independence
from any particular constituency;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>professional and personal reputations that are consistent with our values;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>broad general business experience and acumen, which may include experience in
management, finance, marketing and accounting;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a high level of personal and professional integrity; adequate time to devote
attention to the affairs of our company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such other attributes, including independence, relevant in constituting a board that
also satisfies the requirements imposed by the SEC and the Nasdaq National Market; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Board balance in light of our company&#146;s current and anticipated needs and the
attributes of the other directors and executives.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Investment Committee</I>. The principal functions of the investment committee are to review
proposed significant investment opportunities, explore investment criteria, monitor investments and
advise the Board as to the investment committee&#146;s recommendations and decisions on proposed and
existing investments. All of the members of the investment committee are independent directors as
defined by Nasdaq rules. The members of the investment committee are Dr.&nbsp;Jackson and Messrs.&nbsp;Spolan
and Holtz, with Mr.&nbsp;Spolan acting as the chairman.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Code of Ethics</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have adopted a code of business conduct and ethics applicable to all directors, officers
and employees. We believe our code meets the definition of a code of ethics under the Securities
Act. Our code of business conduct and ethics is available, and any waivers we grant to the code
will be available, on our web site at <u>www.atlasenergy.com</u>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Compensation Committee Interlocks and Insider Participation</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The compensation committee of the Board of Directors consists of Ms.&nbsp;Warren and Messrs.
Delson, Arrendell and Holtz. There are no compensation committee interlocks.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Committee Reports</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Audit Committee Report</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The audit committee has approved the following report:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with its function to oversee and monitor our financial reporting process, the
audit committee has done the following:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reviewed and discussed our audited financial statements for the fiscal year ended
December&nbsp;31, 2009 with our management;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>discussed with our independent auditors those matters which are required to be discussed
by Auditing Standards 61, as amended (AICPA, Professional Standards, Vol. 1, AU Section
380), as</TD>
</TR>

</TABLE>
</DIV>
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<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>adopted by the Public Company Accounting Oversight Board, or the PCAOB, in Rule&nbsp;3200T; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>received the written disclosures and the letter from our independent auditors required by
applicable requirements of the PCAOB regarding our independent auditors&#146; communications with
the audit committee concerning independence and discussed with the independent auditors
their independence.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on the foregoing, the audit committee recommended to the Board that the audited
financial statements be included in our annual report on Form 10-K for the fiscal year ended
December&nbsp;31, 2009 (the &#147;Annual Report&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mark C. Biderman, Chairman<BR>
Jessica K. Davis<BR>
Donald W. Delson<BR>
Gayle P.W. Jackson

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Compensation Committee Report</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The compensation committee has reviewed and discussed the Compensation Discussion and Analysis
with management and, based on its review and discussions, the compensation committee recommended to
the board of directors that the Compensation Discussion and Analysis be included in the annual
report on Form 10-K for the year ended December&nbsp;31, 2009 and the 2010 proxy statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This report has been provided by the compensation committee of the Board of Directors of Atlas
Energy, Inc.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Donald W. Delson, Chairman<BR>
Dennis A. Holtz<BR>
Carlton M. Arrendell<BR>
Ellen F. Warren

</DIV>
<!-- link1 "DIRECTOR AND EXECUTIVE OFFICER COMPENSATION" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>DIRECTOR AND EXECUTIVE OFFICER COMPENSATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>COMPENSATION DISCUSSION AND ANALYSIS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby provide information regarding the compensation program in place as of December&nbsp;31,
2009, for our CEO, CFO and the three other most highly-compensated executive officers. In this
report, we refer to our CEO, CFO and the three other most highly-compensated executive officers as
our &#147;Named Executive Officers&#148; or &#147;NEOs.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our compensation committee is responsible for formulating and presenting recommendations to
the Board of Directors with respect to the compensation of our NEOs. The compensation committee is
also responsible for administering our employee benefit plans, including incentive plans. The
compensation committee is comprised solely of independent directors, consisting of Messrs.&nbsp;Delson,
Arrendell, Holtz; and Ms.&nbsp;Warren, with Mr.&nbsp;Delson acting as the chairperson.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Compensation Objectives</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe that our compensation program must support our business strategy, be competitive,
and provide both significant rewards for outstanding performance and clear financial consequences
for underperformance. We also believe that a significant portion of the NEOs&#146; compensation should
be &#147;at risk&#148; in the form of annual and long-term incentive awards that are paid, if at all, based
on individual and company accomplishment. Accounting and cost implications of compensation programs
are considered in program design; however, the essential consideration is that a program is
consistent with our business needs.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Compensation Methodology</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our compensation committee generally makes recommendations to the board on compensation
amounts shortly after the close of our fiscal year. In the case of base salaries, the committee
recommends the amounts to be paid for the new fiscal year. In the case of annual bonus and
long-term incentive compensation, the committee recommends the amount of awards based on the most
recently concluded fiscal year. We typically pay cash awards and issue equity awards in February,
although our compensation committee has the discretion to recommend salary adjustments and the
issuance of equity awards at other times during the fiscal year. In addition, our NEOs and other
employees who perform services for our publicly-traded subsidiaries, Atlas Pipeline Partners and
Atlas Pipeline Holdings, may receive stock-based awards from these subsidiaries, each of which have
delegated compensation decisions to our compensation committee since neither of those companies has
their own employees.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Chief Executive Officer provides the compensation committee with key elements of our
company&#146;s and the NEOs&#146; performance during the year. Our CEO makes recommendations to the
compensation committee regarding the salary, bonus, and incentive compensation component of each
NEO&#146;s total compensation. Our CEO, at the compensation committee&#146;s request, may attend committee
meetings; however, his role during the meetings is to provide insight into our company&#146;s
performance, as well as the performance of other comparable companies in the same industry.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Compensation Consultant</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The compensation committee retains Mercer (US)&nbsp;Inc., an independent compensation consulting
firm, to assist it in evaluating and setting executive compensation. The compensation committee
originally retained Mercer in June&nbsp;2006 to analyze and review the competitiveness and
appropriateness of all elements of the compensation we paid to our NEOs, individually and as a
group, for fiscal 2006. The purpose of the analysis was to determine whether our compensation
practices were within the norm for companies of similar size and focus. The peer group analysis was
not aimed at establishing benchmarks for our compensation program, but rather to provide a &#147;reality
check&#148; to obtain a general understanding of then current compensation levels. Because of the
importance to our company of our direct-placement energy investment programs and our creation of
new initiatives and entities, Mercer looked not only to the energy industry in evaluating our
compensation levels but also to the financial services and alternative asset industries. Mercer&#146;s
analysis established that our fiscal 2006 compensation amounts fell between the median and the
75<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> percentile of the peer group it used, which our compensation committee found
acceptable in the context of its evaluation of the performance of the NEOs.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Between 2006 and 2009, Mercer continued to assist the compensation committee in setting
executive compensation but did not conduct a similar peer group analysis. In June&nbsp;2009, the
compensation committee engaged Mercer to conduct a competitive review of our then current NEO
compensation program. Mercer provided a proxy analysis based on a peer group of 14 energy
companies, which we refer to as the full peer group, against which we compete for executive talent,
land and mineral
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">rights, oil and gas services, pipeline and takeaway capacity, and/ or water disposal capacity. The
peer group consists of: Anadarko Petroleum Corporation, Chesapeake Energy Corporation, Cabot Oil &#038;
Gas Corporation, CONSOL Energy Inc., EQT Corporation, Exco Resources, Inc., Linn Energy, LLC,
MarkWest Energy Partners, L.P., Quicksilver Resources Inc., Pioneer Natural Resources Company,
Range Resources Corporation, Southwestern Energy Company, The Williams Companies, Inc., and XTO
Energy Inc. In the pipeline business, we compete against some of the members of the peer group for
takeaway capacity, processing services and/or water disposal capacity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mercer also analyzed a 10-company subset of the full peer group, which we refer to as the
size-adjusted peer group, that included companies&#146; 2008 revenues of between $750&nbsp;million to $3
billion, that is, approximately one-half to twice our revenues. The size-adjusted peer group
excluded Anadarko Petroleum, Chesapeake Energy, Williams, and XTO Energy. In addition, Mercer
provided a survey analysis of competitive data gathered from published surveys.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our compensation committee does not set a specific percentile range for our NEO compensation
amounts. Rather, it uses the comparative information as part of the total mix of information it
considers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to the competitive analysis of our NEO compensation program, at the compensation
committee&#146;s direction, Mercer provided the following services for the committee during fiscal 2009:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>provided advice with respect to our new long-term incentive plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>advised the committee with respect to awards for 2009 under our Senior Executive Plan,
discussed below, and established performance measures and performance targets for 2010; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>provided advice on Matthew Jones&#146;s employment agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the course of conducting its activities for fiscal 2009, Mercer attended five meetings of
the compensation committee and presented its findings and recommendations for discussion.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The compensation committee has established procedures that it considers adequate to ensure
that Mercer&#146;s advice remains objective and is not unduly influenced by our management. These
procedures include: a direct reporting relationship of the Mercer consultant to the chairman of the
compensation committee; provisions in the engagement letter with Mercer specifying the information,
data, and recommendations that can and cannot be shared with management; an annual update to the
compensation committee on Mercer&#146;s financial relationship with us, including a summary of the work
performed for us during the preceding 12&nbsp;months; and written assurances from Mercer that, within
the Mercer organization, the Mercer consultant who performs services for the compensation committee
has a reporting relationship and compensation determined separately from Mercer&#146;s other lines of
business and from its other work for us. In fact, Mercer did not perform non-executive compensation
consulting services for our company during the last fiscal year or during any other year. With the
consent of the compensation committee chair, Mercer may contact our executive officers for
information necessary to fulfill its assignment and may make reports and presentations to and on
behalf of the compensation committee that the executive officers also receive.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In making its compensation decisions, the compensation committee meets in executive session,
without management, both with and without Mercer. Ultimately, the decisions regarding executive
compensation are made by the compensation committee after extensive discussion regarding
appropriate compensation and may reflect factors and considerations other than the information and
advice provided by Mercer and our CEO. The compensation committee&#146;s decisions are then submitted to
the Board.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Elements of our Compensation Program</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our executive officer compensation package generally includes a combination of annual cash and
long-term incentive compensation. Annual cash compensation is comprised of base salary plus cash
bonus. Long-term incentives consist of a variety of equity awards. Both the annual cash incentives
and long-term incentives may be performance-based.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Base Salary</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Base salary is intended to provide fixed compensation to the NEOs for their performance of
core duties that contributed to our success as measured by the elements of corporate performance
mentioned above. Base salaries are not intended to compensate individuals for extraordinary
performance or for above average company performance.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Annual Incentives</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annual incentives are intended to tie a significant portion of each of the NEO&#146;s compensation
to our annual performance and/or that of our subsidiaries or divisions for which the officer is
responsible. Generally, the higher the level of responsibility of the executive within our company,
the greater is the incentive component of that executive&#146;s target total cash compensation. The
compensation committee may recommend awards of performance-based bonuses and discretionary bonuses.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Performance-Based Bonuses</I>&#151;Our Annual Incentive Plan for Senior Executives, which we refer to
as the Senior Executive Plan, was initially approved by our shareholders at our 2007 annual
meeting. The Senior Executive Plan is designed to permit us to qualify for an exemption from the
$1,000,000 deduction limit under Section 162(m) of the Internal Revenue Code for compensation paid
to our NEOs. The Senior Executive Plan provides awards for the achievement of predetermined,
objective performance measures over a specified 12-month performance period, generally our fiscal
year. Awards under the Senior Executive Plan are paid in cash. In 2008, the Senior Executive Plan
was amended by shareholder vote to increase the maximum award payable to an individual to $15
million from $5&nbsp;million and to allow awards to be paid in either cash or shares of common stock
under our stock incentive plan. In addition, in 2008 the Senior Executive Plan was clarified to
allow the compensation committee to make such adjustments as it deems appropriate to performance
goals in the event of a change of control. Notwithstanding the existence of our Senior Executive
Plan, the compensation committee believes that shareholder interests are best served by not
restricting its discretion and flexibility in crafting compensation, even if the compensation
amounts result in non-deductible compensation expense. Therefore, the committee reserves the right
to approve compensation that is not fully deductible, although to date it has not done so.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In March&nbsp;2009, the compensation committee approved 2009 target bonus awards to be paid from a
bonus pool. The bonus pool is equal to 18.3% of our adjusted distributable cash flow unless the
adjusted distributable cash flow includes any capital transaction gains in excess of $50&nbsp;million,
in which case only 10% of that excess will be included in the bonus pool. If the adjusted
distributable cash flow does not equal at least 75% of the average adjusted distributable cash flow
for the previous 3&nbsp;years, no bonuses will be paid. Adjusted distributable cash flow means the sum
of (i)&nbsp;cash available for distribution to us by any of our subsidiaries (regardless of whether such
cash is actually distributed), plus (ii)&nbsp;interest income during the year, plus (iii)&nbsp;to the extent
not otherwise included in adjusted distributable cash flow, any realized gain on the sale of
securities, including securities of a subsidiary, less (iv)&nbsp;our stand-alone general and
administrative expenses for the year excluding any bonus expense (other than non-cash bonus
compensation included in general and administrative expenses), and less (v)&nbsp;to the extent not
otherwise
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">included in adjusted distributable cash flow, any loss on the sale of securities, including
securities of a subsidiary. A return of our capital investment in a subsidiary is not intended to
be included and, accordingly, if adjusted distributable cash flow includes proceeds from the sale
of all or substantially all of the assets of a subsidiary, the amount of such proceeds to be
included in adjusted distributable cash flow will be reduced by our basis in the subsidiary. The
maximum award payable, expressed as a percentage of our estimated 2009 adjusted distributable cash
flow, for each participant is as follows: Edward E. Cohen, 6.14%; Jonathan Z. Cohen, 4.37%; Matthew
A. Jones, 3.46%; Richard D. Weber, 2.60% and Freddie Kotek, 1.73%. Pursuant to the terms of the
Senior Executive Plan, the compensation committee has the discretion to recommend reductions, but
not increases, in awards under the plan. As set forth below, actual awards for 2009 were
substantially less than the maximum award permitted under the plan. In February&nbsp;2010, the
compensation committee approved target bonus awards identical to the 2009 target bonus awards.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Discretionary Bonuses</I>&#151;Discretionary bonuses may be awarded to recognize individual and group
performance.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Long-Term Incentives</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe that our long-term success depends upon aligning our executives&#146; and shareholders&#146;
interests. To support this objective, we provide our executives with various means to become
significant shareholders, including our long-term incentive programs and those of our public
subsidiaries. These awards are usually a combination of stock options, restricted stock and phantom
units which vest over four years to support long-term retention of executives and reinforce our
long-term goals.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Grants under our Stock Incentive Plans: </I>Awards under our stock plans, which we refer to as our
Plans, may be in the form of incentive stock options, non-qualified stock options, restricted stock
units and restricted stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock Options</U>&#151; From time to time, our compensation committee has recommended awards of
stock options. Stock option grants have a ten-year term and usually vest 25% per year. These stock
options provide value to the recipient only if our share price is higher than on the date of the
grant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted Stock Units</U>&#151;Restricted stock units entitle the recipient to receive shares
of common stock upon vesting. They reward shareholder value creation slightly differently than
stock options: restricted stock units are impacted by all stock price changes, both increases and
decreases. The vesting schedules for these grants are dictated by the committee and may vest 25%
per year or 25% on the third anniversary and 75% on the fourth anniversary of the grant date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted Stock</U>&#151;On very limited occasions, restricted stock grants have been awarded.
They reward shareholder value creation slightly differently than stock options: restricted stock
units are impacted by all stock price changes, both increases and decreases. These awards vest 25%
per year on the anniversary of the date of grant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Grants under Subsidiary Plans</I>: As described above, our NEOs who perform services for one or
more of our publicly-traded subsidiaries may receive stock-based awards under the long-term
incentive plan of the appropriate subsidiary.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Supplemental Benefits, Deferred Compensation and Perquisites</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We do not emphasize supplemental benefits for executives other than Mr.&nbsp;E. Cohen and Mr.&nbsp;J.
Cohen, and perquisites are discouraged. None of our NEOs have deferred any portion of their
compensation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Employment Agreements</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generally, we do not favor employment agreements unless they are required to attract or to
retain executives to the organization. We have entered into employment agreements with Messrs.&nbsp;E.
Cohen, J. Cohen, Jones and Weber. See &#147;&#151;Employment Agreements and Potential Payments Upon
Termination or Change of Control.&#148; Our compensation committee takes termination compensation
payable under these agreements into account in determining annual compensation awards, but
ultimately its focus is on recognizing each individual&#146;s contribution to our performance during the
year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Determination of 2009 Compensation Amounts</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described above, after the end of our 2009 fiscal year, our compensation committee reviewed
the base salaries of our NEOs for the 2009 fiscal year and recommended incentive awards based on
the prior year&#146;s performance. In carrying out its function, the compensation committee acted in
consultation with Mercer.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In determining the actual amounts to be paid to the NEOs, the compensation committee
considered both individual and company performance. Our CEO makes recommendations of award amounts
based upon the NEOs&#146; individual performances as well as the performance of our subsidiaries for
which each NEO provides service; however, the compensation committee has the discretion to approve,
reject, or modify the recommendations. The compensation committee noted that our management team,
among other accomplishments, successfully restructured our company through the merger, positioning
Atlas Energy to exploit our Marcellus Shale holdings despite the prevailing straitened credit
environment, and repositioned Atlas Pipeline through renegotiation of bank arrangements,
strengthened hedging, increased volumes, effectuated a joint venture with Williams, and
restructured the Mid-Continent division. In addition, the compensation committee reviewed the
calculations of our adjusted distributable cash flow and determined that 2009 adjusted
distributable cash flow exceeded the pre-determined minimum threshold of 75% of the average
adjusted distributable cash flow for the previous three years by more than 50%.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Base Salary</U>. Following a review of the analysis conducted by Mercer in June&nbsp;2009 of
our NEOs&#146; compensation, the compensation committee determined to increase each NEO&#146;s base salary by
$100,000 effective July&nbsp;1, 2009. In light of these interim increases, the compensation committee
determined at the end of our 2009 fiscal year that the adjusted base salaries were appropriate for
the 2010 fiscal year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Annual Incentives</U>. As described above, our company substantially outperformed the
incentive goals that had been set under the Senior Executive Plan. Based upon this performance, the
compensation committee recommended that we award cash incentive bonuses as follows: Edward E.
Cohen, $2,500,000; Jonathan Z. Cohen, $2,000,000; Matthew A. Jones, $800,000; Richard D. Weber,
$800,000 and Freddie M. Kotek, $500,000. The compensation committee also recommended that each of
the NEOs receive an amount of restricted stock units equivalent to their cash bonuses. The
restricted stock units will vest 25% per annum. Because the restricted stock unit awards were made
after our fiscal year end, they are not included, under new SEC rules, in our Summary Compensation
Table for 2009, but will be included in the table for 2010. The aggregate annual incentive awards
were less than the maximum amount payable to each of the NEOs pursuant to the predetermined
percentages established under the
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Senior Executive Plan, which were as follows: Edward E. Cohen, $8,639,000; Jonathan Z. Cohen,
$6,148,000; Matthew A. Jones, $4,878,000; Richard D. Weber, $3,658,000 and Freddie M. Kotek,
$2,439,000.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Long-Term Incentives</U>. In order to retain management and in recognition of company and
individual accomplishments in 2009 as set forth above, the compensation committee determined to
award stock options at an exercise price of $29.05 as follows: Messrs.&nbsp;E. and J. Cohen, 220,000
options; and Messrs.&nbsp;Jones, Weber and Kotek, 70,000 options each. Because these awards were made
after our fiscal year end, they are not included, under new SEC rules, in our Summary Compensation
Table for 2009, but will be included in the table for 2010.
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



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<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SUMMARY COMPENSATION TABLE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth information concerning the compensation for fiscal 2009, 2008
and 2007 for our Chief Executive Officer, Chief Financial Officer and each of our other three most
highly compensated executive officers whose aggregate salary and bonus exceeded $100,000.
</DIV>

<DIV align="center">
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    <TD nowrap align="center" colspan="3"><B>Change in</B></TD>
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    <TD nowrap align="center" colspan="3"><B>pension</B></TD>
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    <TD nowrap align="center" colspan="3"><B>nonqualified</B></TD>
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    <TD nowrap align="center" colspan="3"><B>Non-equity</B></TD>
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    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Stock</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Option</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>incentive plan</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>compensation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>All other</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom">
    <TD nowrap align="left"><B>Name and</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>awards</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>awards</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>compensation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>earnings</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>compensation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Total</B></TD>
</TR>
<TR style="font-size: 7pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>principal position</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Year</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Salary ($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Bonus ($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(3)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Edward E. Cohen,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">983,846</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,500,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">759,235</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">134,600</TD>
    <TD nowrap> <SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,377,681</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Chairman of the Board and</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,507,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,950,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">734,078</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">733,938</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">7,825,016</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Chief Executive Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">900,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,612,160</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,205,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,150,222</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">554,777</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">13,422,159</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Matthew A. Jones,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">360,770</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">800,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">16,150</TD>
    <TD nowrap> <SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,176,920</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Chief Financial Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">300,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,402,800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,500,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">115,313</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,318,113</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">300,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">461,216</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">120,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">134,597</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,016,313</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Jonathan Z. Cohen,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">676,923</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">88,163</TD>
    <TD nowrap> <SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,765,086</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Vice Chairman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,805,600</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">500,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">386,550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,292,150</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">600,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,306,080</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">482,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">300,906</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">7,688,986</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Richard D. Weber,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">360,770</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">800,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">8,543</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,169,313</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">President</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">300,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,052,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,200,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,473</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,562,573</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">300,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,500,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,857</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,802,857</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Freddie M. Kotek,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">360,770</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">500,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">22,461</TD>
    <TD nowrap> <SUP style="FONT-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">883,230</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Executive Vice President</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">300,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">701,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">48,780</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,050,180</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">300,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">461,216</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">120,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">47,996</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,929,712</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the fair value on the date of grant of the (i)&nbsp;phantom units granted
under the AHD Plan, (ii)&nbsp;phantom units granted under the APL Plan; and (iii)&nbsp;phantom units
granted under the Assumed LTIP, all in accordance with prevailing accounting literature. See
note 18 to our consolidated financial statements for an explanation of the assumptions we make
for this valuation.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the fair value on the date of grant of the (i)&nbsp;options granted under our
2004 Plan, (ii)&nbsp;options granted under the AHD Plan; and (iii)&nbsp;options granted under the
Assumed LTIP, all in accordance with prevailing accounting literature. See note 18 to our
consolidated financial statements for an explanation of the assumptions we make for this
valuation.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the aggregate annual change in the present-value of accumulated pension
benefits under the Supplemental Employment Retirement Plan for Mr.&nbsp;E. Cohen.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes payments on DERs of $7,200 with respect to the phantom units awarded under
the APL Plan, $5,400 with respect to phantom units awarded under the AHD Plan, and $122,000
with respect to the phantom units awarded under the Assumed LTIP.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes payments on DERs of $2,750 with respect to the phantom units awarded under
the APL Plan, $1,200 with respect to phantom units awarded under the AHD Plan, and $12,200
with respect to the phantom units awarded under the Assumed LTIP.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents payments on DERs of $5,163 with respect to the phantom units awarded
under the APL Plan, $2,700 with respect to phantom units awarded under the AHD Plan, and $
61,000 with respect to the phantom units awarded under the Assumed LTIP.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents reimbursements for lease payments on Mr.&nbsp;Weber&#146;s vehicle.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes payments on DERs of $95 with respect to the phantom units awarded under
the APL Plan, $12,200 with respect to the phantom units awarded under the Assumed LTIP.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<!-- link1 "2009 GRANTS OF PLAN-BASED AWARDS TABLE" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>2009 GRANTS OF PLAN-BASED AWARDS TABLE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11"><B>Estimated Future Payouts Under</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11"><B>Non-Equity Incentive Plan</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11" style="border-bottom: 0px solid #000000"><B>Awards</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Threshold</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Target</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Maximum</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Edward E. Cohen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">8,639,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Matthew A. Jones</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,878,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Jonathan Z. Cohen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">6,148,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Richard D. Weber</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,658,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Freddie Kotek</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,439,000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents performance-based bonuses under our Senior Executive Plan. As
discussed under &#147;Compensation Discussion and Analysis&#151;Elements of our Compensation
Program&#151;Annual Incentives&#151;Performance-Based Bonuses,&#148; the Compensation Committee set
performance goals based on our adjusted distributable cash flow and established maximum
awards, but not minimum or target amounts, for each eligible NEO. Our Senior Executive Plan
sets an individual limit of $15,000,000 per annum regardless of the maximum amounts that might
otherwise be payable.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Employment Agreements and Potential Payments Upon Termination or Change of Control</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Edward E. Cohen</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In May&nbsp;2004, we entered into an employment agreement with Edward E. Cohen, who currently
serves as our Chairman and Chief Executive Officer. The agreement was amended as of December&nbsp;31,
2008 to comply with requirements under Section&nbsp;409A of the Code relating to deferred compensation.
The agreement requires Mr.&nbsp;Cohen to devote such time to us as is reasonably necessary to the
fulfillment of his duties, although it permits him to invest and participate in outside business
endeavors. The agreement provided for initial base compensation of $350,000 per year, which may be
increased by the compensation committee based upon its evaluation of Mr.&nbsp;Cohen&#146;s performance. Mr.
Cohen is eligible to receive incentive bonuses and stock option grants and to participate in all
employee benefit plans in effect during his period of employment. The agreement has a term of three
years and, until notice to the contrary, the term is automatically extended so that on any day on
which the agreement is in effect it has a then-current three-year term. We entered into Mr.&nbsp;Cohen&#146;s
employment agreement around the time of our spin-off from Resource America. At that time, it was
important to establish a long-term commitment to and from Mr.&nbsp;Cohen as our Chief Executive Officer
and then-President. We determined that the rolling three-year term was an appropriate amount of
time to reflect that commitment and was a term that was commensurate with Mr.&nbsp;Cohen&#146;s position.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We may terminate the agreement without cause, including upon or after a change of control,
upon 30&nbsp;days&#146; prior notice, in the event of Mr.&nbsp;Cohen&#146;s death, if he is disabled for 180&nbsp;days
consecutive days during any 12-month period or at any time for cause. Mr.&nbsp;Cohen also has the right
to terminate the agreement for good reason or because of a change of control. Mr.&nbsp;Cohen must
provide us with 30&nbsp;days&#146; notice of a termination by him for good reason within 60&nbsp;days of the event
constituting good reason. We then would have 30&nbsp;days in which to cure and, if we do not do so, Mr.
Cohen&#146;s employment will terminate 30&nbsp;days after the end of the cure period. Mr.&nbsp;Cohen may also
terminate the agreement without
</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">cause upon 60&nbsp;days&#146; notice. Termination amounts will not be paid until 6&nbsp;months after the
termination date, if such delay is required by Section&nbsp;409A.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of control is defined as:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the acquisition of beneficial ownership, as defined in the Securities Exchange Act, of
25% or more of our voting securities or all or substantially all of our assets by a single
person or entity or group of affiliated persons or entities, other than an entity affiliated
with Mr.&nbsp;Cohen or any member of his immediate family;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we consummate a merger, consolidation, combination, share exchange, division or other
reorganization or transaction with an unaffiliated entity in which either (a)&nbsp;our directors
immediately before the transaction constitute less than a majority of the board of the
surviving entity, unless 1/2 of the surviving entity&#146;s board were our directors immediately
before the transaction and our chief executive officer immediately before the transaction
continues as the chief executive officer of the surviving entity; or (b)&nbsp;our voting
securities immediately prior to the transaction represent less than 60% of the combined
voting power immediately after the transaction of us, the surviving entity or, in the case
of a division, each entity resulting from the division;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>during any period of 24 consecutive months, individuals who were Board members at the
beginning of the period cease for any reason to constitute a majority of the Board, unless
the election or nomination for election by our shareholders of each new director was
approved by a vote of at least 2/3 of the directors then still in office who were directors
at the beginning of the period; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our shareholders approve a plan of complete liquidation of winding up of our company, or
agreement of sale of all or substantially all of our assets or all or substantially all of
the assets of our primary subsidiaries to an unaffiliated entity.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Good reason is defined as a reduction in Mr.&nbsp;Cohen&#146;s base pay, a demotion, a material
reduction in his duties, relocation, his failure to be elected to our Board of Directors or our
material breach of the agreement. Cause is defined as a felony conviction or conviction of a crime
involving fraud, embezzlement or moral turpitude, intentional and continual failure by Mr.&nbsp;Cohen to
perform his material duties after notice, or violation of confidentiality obligations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The agreement provides for a Supplemental Executive Retirement Plan, or SERP, pursuant to
which Mr.&nbsp;Cohen will receive, upon the later of his retirement or reaching the age of 70, an annual
retirement benefit equal to the product of:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>6.5% multiplied by</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>his base salary as of the time Mr.&nbsp;Cohen&#146;s employment with us ceases, multiplied by</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the number of years (or portions thereof) which Mr.&nbsp;Cohen is employed by us but, in any
case, not less than four. If Mr.&nbsp;Cohen&#146;s employment is terminated due to disability, the
3-year period following the termination will be deemed a portion of his employment term for
purposes of accruing SERP benefits.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The maximum benefit under the SERP is limited to 65% of his final base salary. The benefit is
guaranteed to his estate for up to 10&nbsp;years if he should die before receiving 10&nbsp;years&#146; of SERP
benefits. If
</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">there is a change of control, if Mr.&nbsp;Cohen resigns for good reason, or if we terminate his
employment without cause, then the SERP benefit will be the greater of the accrued benefit pursuant
to the above formula, or 40% of his final base salary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The agreement provides the following termination benefits:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination of employment due to death, Mr.&nbsp;Cohen&#146;s estate will receive (a)&nbsp;a lump
sum payment in an amount equal to three times his final base salary, (b)&nbsp;payment of his SERP
benefit and (c)&nbsp;automatic vesting of all stock and option awards.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination due to disability, Mr.&nbsp;Cohen will receive (a)&nbsp;a lump sum payment in an
amount equal to three times his final base salary, (b)&nbsp;a lump sum amount equal to the COBRA
premium cost for continued health coverage, less the premium charge that is paid by our
employees, during the three years following his termination, (c)&nbsp;a lump sum amount equal to
the cost we would incur for life, disability and accident insurance coverage during the
three-year period, less the premium charge that is paid by our employees, (d)&nbsp;payment of his
SERP benefit, (e)&nbsp;automatic vesting of all stock and option awards and (f)&nbsp;any amounts payable
under our long-term disability plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination by us without cause, by Mr.&nbsp;Cohen for good reason or by either party
in connection with a change of control, he will be entitled to either (a)&nbsp;if Mr.&nbsp;Cohen does
not sign a release, severance benefits under our then current severance policy, if any, or (b)
if Mr.&nbsp;Cohen signs a release, (i)&nbsp;a lump sum payment in an amount equal to three times average
compensation (defined as the average of the three highest amounts of annual total
compensation), (ii)&nbsp;a lump sum amount equal to the COBRA premium cost for continued health
coverage, less the premium charge that is paid by our employees, during the three years
following his termination, (iii)&nbsp;a lump sum amount equal to the cost we would incur for life,
disability and accident insurance coverage during the three-year period, less the premium
charge that is paid by our employees, (iv)&nbsp;payment of his SERP benefit and (v)&nbsp;automatic
vesting of all stock and option awards.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination by Mr.&nbsp;Cohen without cause, if he signs a release he will receive (a)
a lump sum payment equal to one-half of one year&#146;s base salary then in effect, (b)&nbsp;automatic
vesting of all stock and option awards and (c)&nbsp;if he has reached retirement age, his SERP
benefits.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that any amounts payable to Mr.&nbsp;Cohen upon termination become subject to any
excise tax imposed under Section&nbsp;4999 of the Code, we must pay Mr.&nbsp;Cohen an additional sum such
that the net amounts retained by Mr.&nbsp;Cohen, after payment of excise, income and withholding taxes,
equals the termination amounts payable, unless Mr.&nbsp;Cohen&#146;s employment terminates because of his
death or disability. We believe that the multiples of the compensation components payable to Mr.
Cohen upon termination were generally aligned with competitive market practice for similar
executives at the time that his employment agreement was negotiated.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a termination event had occurred as of December&nbsp;31, 2009, we estimate that the value of the
benefits to Mr.&nbsp;Cohen would have been as follows:
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>



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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Accelerated</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Lump sum</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>vesting of stock</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>severance</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>awards and option</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Tax gross-</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Reason for termination</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>payment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>SERP</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Benefits</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>awards</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(3)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>up</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(4)</B></SUP></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Death</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">2,951,540</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,197,501</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">13,449,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Disability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2,951,540</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,197,501</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,020</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,449,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Termination by us without cause<SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">14,733,847</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,935,386</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,020</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,449,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Termination by Mr.&nbsp;Cohen for good reason<SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">14,733,847</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,935,386</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,020</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,449,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change of control<SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">14,733,847</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,935,386</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,020</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,449,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,176,361</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Termination by Mr.&nbsp;Cohen without cause</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">491,924</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,197,501</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,449,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the value of vested benefits payable calculated by multiplying the
per year benefit by the minimum of 10&nbsp;years.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents rates currently in effect
for COBRA insurance benefits for 36&nbsp;months.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the value of unvested and accelerated option awards and stock awards
disclosed in the &#147;Outstanding Equity Awards at Fiscal Year-End Table.&#148; The payments relating to
option awards are calculated by multiplying the number of accelerated options by the difference
between the exercise price and the closing price of the applicable stock on December&nbsp;31, 2009. The
payments relating to stock awards are calculated by multiplying the number of accelerated shares by
the closing price of the applicable stock on December&nbsp;31, 2009.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Calculated after deduction of any excise tax imposed under section 4999 of the Code,
and any federal, state and local income tax, FICA and Medicare withholding taxes, taking into
account the 20% excess parachute payment rate and a 36.45% combined effective tax rate.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Calculated based on Mr.&nbsp;Cohen&#146;s 2009 base salary.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>These amounts are contingent upon Mr.&nbsp;Cohen executing a release. If Mr.&nbsp;Cohen does
not execute a release he would receive severance benefits under our current severance plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Calculated based on Mr.&nbsp;Cohen&#146;s average 2009, 2008 and 2007 base salary and bonus.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Matthew A. Jones</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In July&nbsp;2009, we entered into an employment agreement with Matthew A. Jones, who currently
serves as our Chief Financial Officer. The agreement provides for initial base compensation of
$300,000 per year, which may be increased at the discretion of our Board of Directors. Mr.&nbsp;Jones is
eligible to receive grants of equity based compensation from APL, AHD and other affiliates of ours,
which we refer to as the Atlas Entities, and to participate in all employee benefit plans in effect
during his period of employment. The agreement provides that any unvested equity compensation will
be subject to forfeiture in accordance with the long-term incentive plan of the applicable entity
except that, if we terminate Mr.&nbsp;Jones&#146;s employment without cause, including his disability, or if
Mr.&nbsp;Jones terminates his employment for good reason or in the event of his death, all of his
unvested awards will be fully vested.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The agreement has a term of two years. We may terminate the agreement:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>at any time for cause;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>without cause upon 90&nbsp;days&#146; prior written notice;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if Mr.&nbsp;Jones is physically or mentally disabled for 180&nbsp;days in the aggregate or 90
consecutive days during any 365-day period and our Board of Directors determines, in good faith
based upon medical evidence, that he is unable to perform his duties; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the event of Mr.&nbsp;Jones&#146;s death.</TD>
</TR>



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Jones has the right to terminate the agreement for good reason, defined as material breach
by us of the agreement or a change of control. Mr.&nbsp;Jones must provide notice of a termination by
him for good reason within 30&nbsp;days of the event constituting good reason. We then would have 30
days in which to cure and, if we do not do so, Mr.&nbsp;Jones&#146;s employment will terminate 30&nbsp;days after
the end of the cure period. Mr.&nbsp;Jones may also terminate the agreement without good reason upon 30
days&#146; notice. Termination amounts will not be paid until six months after the termination date, if
such delay is required by Section&nbsp;409A of the Internal Revenue Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cause is defined as (a)&nbsp;Mr.&nbsp;Jones&#146; having committed a demonstrable and material act of fraud,
(b)&nbsp;illegal or gross misconduct that is willful and results in damage to the business or reputation
of the Atlas Entities, (c)&nbsp;being charged with a felony, (d)&nbsp;continued failure by Mr.&nbsp;Jones to
perform his duties after notice other than as a result of physical or mental illness, or (e)&nbsp;Mr.
Jones&#146;s failure to follow our reasonable written directions consistent with his duties. Good reason
is defined as any action or inaction that constitutes a material breach by us of the agreement or a
change of control. Change of control is defined as:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the acquisition of beneficial ownership, as defined in the Securities Exchange Act, of 50%
or more of our voting securities or all or substantially all of our assets by a single person or
entity or group of affiliated persons or entities, other than by a related entity, defined as
any of the Atlas Entities or any affiliate of us or of Mr.&nbsp;Jones or any member of his immediate
family;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the consummation of a merger, consolidation, combination, share exchange, division or other
reorganization or transaction with an unaffiliated entity, other than a related entity, in which
either (a)&nbsp;our directors immediately before the transaction constitute less than a majority of
the board of directors of the surviving entity, unless <FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT> of the surviving entity&#146;s board were
our directors immediately before the transaction and our Chief Executive Officer immediately
before the transaction continues as the Chief Executive Officer of the surviving entity; or (b)
our voting securities immediately before the transaction represent less than 60% of the combined
voting power immediately after the transaction of us, the surviving entity or, in the case of a
division, each entity resulting from the division;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>during any period of 24 consecutive calendar months, individuals who were Board members at
the beginning of the period cease for any reason to constitute a majority of the Board, unless
the election or nomination for the election by our stockholders of each new director was
approved by a vote of at least 2/3 of the directors then still in office who were directors at
the beginning of the period; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our stockholders approve a plan of complete liquidation or winding-up, or agreement of sale
of all or substantially all of our assets or all or substantially all of the assets of our
primary subsidiaries other than to a related entity.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The agreement provides the following regarding termination and termination benefits:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>upon termination of employment due to death, Mr.&nbsp;Jones&#146;s designated beneficiaries will
receive a lump sum cash payment within 60&nbsp;days of the date of death of (a)&nbsp;any unpaid portion of
his annual salary earned and not yet paid; (b)&nbsp;an amount representing the incentive compensation
earned for the period up to the date of termination computed by assuming that the amount of all
such incentive compensation would be equal to the amount that Mr.&nbsp;Jones earned during the prior</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>fiscal year, pro-rated through the date of termination; (c)&nbsp;any accrued but unpaid incentive
compensation and vacation pay; and (d)&nbsp;all equity compensation awards will immediately vest.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>upon termination by us for cause or by Mr.&nbsp;Jones for other than good reason, Mr.&nbsp;Jones will
receive only base salary and vacation pay to the extent earned and not paid. Mr.&nbsp;Jones&#146;s equity
awards that have vested as of the date of termination will not be subject to forfeiture.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>upon termination by us other than for cause, including disability, or by Mr.&nbsp;Jones for good
reason, he will be entitled to either (a)&nbsp;if Mr.&nbsp;Jones does not sign a release, severance
benefits under our then current severance policy, if any, or (b)&nbsp;if Mr.&nbsp;Jones signs a release,
(i)&nbsp;a lump sum payment in an amount equal to two years of his average compensation (which is
defined as his base salary in effect immediately before termination plus the average of the cash
bonuses earned for the three calendar years preceding the year in which the date of terminated
occurred), less, in the case of termination by reason of disability, any amounts paid under
disability insurance provided by us; (ii)&nbsp;monthly reimbursement of any COBRA premium paid Mr.
Jones, less the amount Mr.&nbsp;Jones would be required to contribute for health and dental coverage
if he were an active employee, for the 24&nbsp;months following the date of termination, and (iii)
automatic vesting of Mr.&nbsp;Jones&#146;s equity awards.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a termination event had occurred as of December&nbsp;31, 2009, we estimate that the value of the
benefits to Mr.&nbsp;Jones would have been as follows:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Accelerated</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Lump sum</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>vesting of stock</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>severance</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>awards and</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Reason for termination</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>payment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Benefits</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>option awards</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Death</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,408,291</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Termination by us other than for cause (including disability) or by
Mr.&nbsp;Jones for good reason (including a change of control)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">3,588,207</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,408,291</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the value of unexercisable option and unvested stock awards disclosed
in the &#147;Outstanding Equity Awards at Fiscal Year-End Table.&#148; The payments relating to option awards
are calculated by multiplying the number of accelerated options by the difference between the
exercise price and the closing price of the applicable stock on December&nbsp;31, 2009.
The payments relating to stock awards are calculated by multiplying the number of accelerated
shares by the closing price of the applicable stock on December&nbsp;31, 2009.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Calculated based on Mr.&nbsp;Jones&#146;s 2009 base salary and the average of his 2009, 2008
and 2007 cash bonuses. Assumes Mr.
Jones executes a release.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Jonathan Z. Cohen</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In January&nbsp;2009, we entered into an employment agreement with Jonathan Z. Cohen, to continue
his service as Vice-Chairman, in which position he has served in since 1998. We entered into the
agreement in order to define Mr.&nbsp;Cohen&#146;s role with our company, particularly in light of the fact
that he devotes a substantial amount of his time to us. Thus, the agreement specifies that his
duties include capital raising, strategic transactions and activities, building and minding
shareholder and lender relationships, developing and implementing short- and long-term plans and
approaches, and being available to assist our Chairman and Board of Directors with respect to other
matters. The agreement provides that Mr.&nbsp;Cohen&#146;s position will not be full-time and requires him to
devote such time to us as is reasonably necessary to the fulfillment of his duties, and permits him
to invest and participate in outside business endeavors.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->26<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The agreement provides for initial base compensation of $600,000 per year, which may be
increased at the discretion of our Board of Directors. Mr.&nbsp;Cohen is eligible to receive grants of
equity-based compensation from us, Atlas Energy Resources, Atlas Pipeline Partners, Atlas Pipeline
Holdings or other of our affiliates, which we refer to collectively as the Atlas Entities, and to
participate in all employee benefit plans in effect during his period of employment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The agreement has a term of three years and will be renewed for an additional three-year
period, unless either party elects to terminate the agreement by providing notice at least 180&nbsp;days
before the expiration of the then current term. We may terminate the agreement:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>without cause upon 90&nbsp;days&#146; prior notice;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the event of Mr.&nbsp;Cohen&#146;s death;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if he is physically or mentally disabled for 180&nbsp;days in the aggregate or 90 consecutive
days during any 365-day period and our Board of Directors determines, in good faith based upon
medical evidence, that he is unable to perform his duties; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>at any time for cause.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Cohen has the right to terminate the agreement for good reason, including a change of
control. Mr.&nbsp;Cohen must provide us with notice of a termination by him for good reason within 30
days of the event constituting good reason. We then would have 30&nbsp;days in which to cure and, if we
do not do so, Mr.&nbsp;Cohen&#146;s employment will terminate 30&nbsp;days after the end of the cure period. Mr.
Cohen may also terminate the agreement without cause upon 30&nbsp;days&#146; notice. Termination amounts will
not be paid until 6&nbsp;months after the termination date, if such delay is required by Section&nbsp;409A of
the Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cause is defined as a felony conviction or conviction of a crime involving fraud, deceit or
misrepresentation, failure by Mr.&nbsp;Cohen to materially perform his duties after notice other than as
a result of physical or mental illness, or violation of confidentiality obligations or
representations in the agreement. Good reason is defined as any action or inaction that constitutes
a material breach by us of the agreement or a change of control. Change of control is defined as:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the acquisition of beneficial ownership, as defined in the Securities Exchange Act, of 25%
or more of our voting securities or all or substantially all of our assets by a single person or
entity or group of affiliated persons or entities, other than an entity affiliated with Mr.
Cohen or any member of his immediate family;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the consummation of a merger, consolidation, combination, share exchange, division or other
reorganization or transaction with an unaffiliated entity in which either (a)&nbsp;our directors
immediately before the transaction constitute less than a majority of the board of the surviving
entity, unless 1/2 of the surviving entity&#146;s board were our directors immediately before the
transaction and Our Chief Executive Officer immediately before the transaction continues as the
Chief Executive Officer of the surviving entity; or (b)&nbsp;our voting securities immediately prior
to the transaction represent less than 60% of the combined voting power immediately after the
transaction of us, the surviving entity or, in the case of a division, each entity resulting
from the division;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>during any period of 24 consecutive months, individuals who were Board members at the
beginning of the period cease for any reason to constitute a majority of the Board, unless the
election or nomination for election by our shareholders of each new director was approved by a
vote of at least 2/3 of the directors then still in office who were directors at the beginning
of the period; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our shareholders approve a plan of complete liquidation of winding up, or agreement of sale
of all</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>or substantially all of our assets or all or substantially all of the assets of our primary
subsidiaries to an unaffiliated entity.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The agreement provides for a SERP, which will provide a monthly benefit to Mr.&nbsp;Cohen, upon the
later of his reaching the age of 60 or 30&nbsp;days after his retirement, equal to 1/12 of the product
of:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the highest annual base salary Mr.&nbsp;Cohen received during his service to the Atlas Entities,
multiplied by</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>2%, multiplied by</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the number of years (or fractions thereof) during which Mr.&nbsp;Cohen was an officer or director
of any of the Atlas Entities on and after January&nbsp;1, 2004.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The percentage calculated by multiplying the second and third bullet points above cannot
exceed 65%. The aggregate amount of the payments made to Mr.&nbsp;Cohen pursuant to the SERP will be
offset by the aggregate amounts paid to Mr.&nbsp;Cohen by the Atlas Entities under their qualified
benefit programs.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The agreement provides the following regarding termination and termination benefits:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination of employment due to death, Mr.&nbsp;Cohen&#146;s estate will receive (a)
accrued but unpaid bonus and vacation pay, (b)&nbsp;up to 120&nbsp;monthly SERP payments if he should
die before receiving 120&nbsp;monthly payments and (c)&nbsp;automatic vesting of all equity-based
awards.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination by us other than for cause, including disability, or by Mr.&nbsp;Cohen for
good reason, Mr.&nbsp;Cohen will receive either (a)&nbsp;if Mr.&nbsp;Cohen does not sign a release,
severance benefits under our then current severance policy, if any, or (b)&nbsp;if Mr.&nbsp;Cohen
signs a release, (i)&nbsp;a lump sum payment in an amount equal to three years of his average
compensation (which is defined as his base salary in effect immediately before termination
plus the average of the cash bonuses earned for the three calendar years preceding the year
in which the termination occurred), less, in the case of termination by reason of
disability, any amounts paid under disability insurance provided by us, (ii)&nbsp;monthly
reimbursement of any COBRA premium paid by Mr.&nbsp;Cohen, less the amount Mr.&nbsp;Cohen would be
required to contribute for health and dental coverage if he were an active employee, (iv)
payment of his SERP benefits if he has reached retirement age and (v)&nbsp;automatic vesting of
all equity-based awards.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination by us for cause or by Mr.&nbsp;Cohen for other than good reason, Mr.&nbsp;Cohen
will receive his SERP benefits if he has reached retirement age, and his vested
equity-based awards will not be subject to forfeiture.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe that the multiples of the compensation components payable to Mr.&nbsp;Cohen upon
termination were generally aligned with competitive market practice for similar executives at the
time that his employment agreement was negotiated.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a termination event had occurred as of December&nbsp;31, 2009, we estimate that the value of the
benefits to Mr.&nbsp;Cohen would have been as follows:
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Accelerated</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Lump sum</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>vesting of stock</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>severance</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>awards and</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Reason for termination</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>payment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>SERP</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Benefits</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>option awards</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Death</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">209,916</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,989,623</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Termination by us other than for cause (including disability) or by
Mr.&nbsp;Cohen for good reason (including a change of control)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">11,590,770</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">209,916</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,989,623</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Termination by us for cause or by Mr.&nbsp;Cohen for other than good
reason</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">209,916</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Cohen does not currently receive benefits from Atlas Energy.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the value of unexercisable option and unvested stock awards disclosed in
the &#147;Outstanding Equity Awards at Fiscal Year-End Table.&#148; The payments relating to option awards
are calculated by multiplying the number of accelerated options by the difference between the
exercise price and the closing price of the applicable stock on December&nbsp;31, 2009.
The payments relating to stock awards are calculated by multiplying the number of accelerated
shares by the closing price of the applicable stock on December&nbsp;31, 2009.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Calculated based on Mr.&nbsp;Cohen&#146;s 2009 base salary and the average of his 2009, 2008
and 2007 bonuses. Assumes Mr.
Cohen signs a release.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Richard D. Weber</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We entered into an employment agreement in April&nbsp;2006 with Richard Weber, who serves as our
President and President and Chief Operating Officer of Atlas Energy Resources and Atlas Energy
Management. The agreement has a two year term and, after the first year, the term automatically
renews daily so that on any day that the agreement is in effect, the agreement will have a
remaining term of one year. Mr.&nbsp;Weber is required to devote substantially all of his working time
to Atlas Energy Management and its affiliates. The agreement provides for an annual base salary of
not less than $300,000 and a bonus of not less than $700,000 during the first year. After that,
bonuses will be awarded solely at the discretion of our compensation committee. The agreement
provides for equity compensation as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon execution of the agreement, Mr.&nbsp;Weber was granted options to purchase 75,000
shares of our stock at $21.27, as adjusted for stock splits.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In January&nbsp;2007, Mr.&nbsp;Weber received a grant of 47,619 shares of restricted units of
Atlas Energy Resources with a value of $1,000,000.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In January&nbsp;2007, Mr.&nbsp;Weber received options to purchase 373,752 common units of Atlas
Energy Resources at $21.00.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of the securities described above vest 25% per year on each anniversary of the date Mr.
Weber commenced his employment, April&nbsp;17, 2006. All securities will vest immediately upon a change
of control or termination by Mr.&nbsp;Weber for good reason or by Atlas Energy Management other than for
cause. Change of control is defined as:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the acquisition of beneficial ownership, as defined in the Securities Exchange Act, of 50%
or more of our or Atlas Energy Resources&#146; voting securities or all or substantially all of our
or Atlas Energy Resources&#146; assets by a single person or entity or group of affiliated persons or
entities, other than an entity of which either Mr.&nbsp;E. Cohen or Mr.&nbsp;J. Cohen is an officer,
manager, director or participant;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we or Atlas Energy Resources consummate a merger, consolidation, combination,
share exchange, division or other reorganization or transaction with an unaffiliated entity
after which Atlas Energy Management is not the manager of Atlas Energy Resources; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our or Atlas Energy Resources&#146; equity holders approve a plan of complete
liquidation of winding up, or agreement of sale of all or substantially all of our or Atlas
Energy Resources&#146; assets other than an entity of which either Mr.&nbsp;E. Cohen or Mr.&nbsp;J. Cohen is an
officer, manager, director or participant.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The change of control triggering events relating to the possible absence of Messrs.&nbsp;Cohen
reflects that Mr.&nbsp;Weber&#146;s belief that Messrs.&nbsp;Cohen effectively controlled us at the time of his
employment and their separation would therefore constitute a change of control.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Good reason is defined as a material breach of the agreement, reduction in his base pay, a
demotion, a material reduction in his duties or his failure to be elected to the Atlas Energy
Resources Board of Directors. Cause is defined as fraud in connection with his employment,
conviction of a crime other than a traffic offense, material failure to perform his duties after
written demand by our Board or breach of the representations made by Mr.&nbsp;Weber in the employment
agreement if the breach impacts his ability to fully perform his duties. Disability is defined as
becoming disabled by reason of physical or mental disability for more than 180&nbsp;days in the
aggregate or a period of 90 consecutive days during any 365-day period and the good faith
determination by our Board based upon medical evidence that Mr.&nbsp;Weber is unable to perform his
duties under his employment agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlas Energy Management may terminate Mr.&nbsp;Weber without cause upon 45&nbsp;days written notice or
for cause upon written notice. Mr.&nbsp;Weber may terminate his employment for good reason or for any
other reason upon 30&nbsp;days&#146; written notice. Key termination benefits are as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If Mr.&nbsp;Weber&#146;s employment is terminated due to death, (a)&nbsp;Atlas Energy Management will
pay to Mr.&nbsp;Weber&#146;s designated beneficiaries a lump sum cash payment in an amount equal to
the bonus that Mr.&nbsp;Weber received from the prior fiscal year pro rated for the time
employed during the current fiscal year, (b)&nbsp;Mr.&nbsp;Weber&#146;s family will receive health
insurance coverage for one year; and (c)&nbsp;all Atlas Energy Resources stock and option awards
will automatically vest.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If Atlas Energy Management terminates Mr.&nbsp;Weber&#146;s employment other than for cause
(including termination by reason of disability), or Mr.&nbsp;Weber terminates his employment for
good reason, (a)&nbsp;Atlas Energy Management will pay amounts and benefits otherwise payable to
Mr.&nbsp;Weber as if Mr.&nbsp;Weber remained employed for one year, except that the bonus amount
shall be prorated and based on the bonus awarded in the prior fiscal year, and (b)&nbsp;all
stock and option awards will automatically vest.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Weber is entitled to a gross-up payment if any payments made to him would constitute an
excess parachute payment under Section&nbsp;280G of the Code such that the net amount Mr.&nbsp;Weber receives
after the deduction of any excise tax, any federal, state and local income tax, and any FICA and
Medicare withholding tax is the same amount he would have received had such taxes not been
deducted. The agreement includes standard restrictive covenants for a period of two years following
termination, including non-compete and non-solicitation provisions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a termination event had occurred as of December&nbsp;31, 2009, we estimate that the value of the
benefits to Mr.&nbsp;Weber would have been as follows:
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->30<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Accelerated</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Lump sum</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>vesting of stock</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>severance</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>awards and</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Reason for termination</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>payment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Benefits</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>option awards</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Tax gross-up</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Death</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">1,600,000</TD>
    <TD nowrap> <SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">19,429</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Disability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,396</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Termination by us other than for cause (including for disability) or
by Mr.&nbsp;Weber for good reason</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1,960,770</TD>
    <TD nowrap> <SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,396</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,969,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change of control</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,969,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents rates currently in effect for COBRA insurance benefits for 12&nbsp;months.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the value of unexercisable option and unvested unit awards disclosed in
the &#147;Outstanding Equity Awards at Fiscal Year-End Table.&#148; The payments relating to option awards
are calculated by multiplying the number of accelerated options by the difference between the
exercise price and the closing price of the applicable units on December&nbsp;31, 2009.
The payments relating to unit awards are calculated by multiplying the number of accelerated
shares or units by the closing price of the applicable stock on December&nbsp;31, 2009.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents Mr.&nbsp;Weber&#146;s 2009 bonus.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Calculated as the sum of Mr.&nbsp;Weber&#146;s 2009 base salary and bonus.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Long-Term Incentive Plans</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Our Plans</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Stock Incentive Plan (the &#147;2004 Plan&#148;) authorizes the granting of up to 4.5&nbsp;million shares
of our common stock to our employees, affiliates, consultants and directors in the form of
incentive stock options (&#147;ISOs&#148;), non-qualified stock options, stock appreciation rights (&#147;SARs&#148;),
restricted stock and deferred units. We also have a 2009 Stock Incentive Plan (the &#147;2009 Plan&#148;)
which authorizes the granting of up to 4.8&nbsp;million shares of our common stock to our employees,
affiliates, consultants and directors in the form of ISOs, non-qualified stock options, SARs,
restricted stock, restricted stock units and deferred units. SARs represent a right to receive cash
in the amount of the difference between the fair market value of a share of our common stock on the
exercise date and the exercise price, and may be free-standing or tied to grants of options. A
deferred unit or a restricted stock unit represents the right to receive one share of our common
stock upon vesting. Generally, awards under our 2004 Plan and 2009 Plan become exercisable as to
25% each anniversary after the date of grant except that deferred units awarded to our
non-executive board members vest 33 1/3% on each of the second, third and fourth anniversaries of
the grant, and expire not later than ten years after the date of grant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Senior Executive Plan</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For a description of our Senior Executive Plan, please see &#147;Compensation Discussion and
Analysis &#151; Elements of our Compensation Program &#151; Annual Incentives &#151; Performance-Based Bonuses.&#148;
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->31<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>ATN Assumed Plan</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the Merger, we agreed to assume Atlas Energy Resources&#146; Long-Term Incentive
Plan (the &#147;Assumed LTIP&#148;), which applies to all of Atlas Energy Resources&#146; awards that were
outstanding at the time of the Merger. Under the Assumed LTIP, each outstanding unit option,
phantom unit and restricted unit granted under Atlas Energy Resources&#146; previous plan was converted
to an equivalent stock option, phantom share or restricted share of our stock at a ratio of 1.0
unit to 1.16 common shares. No new grant awards will be issued under the Assumed LTIP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>AHD Plan</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The AHD Plan provides equity incentive awards to officers, employees and board members and
employees of its affiliates, consultants and joint-venture partners who perform services for Atlas
Pipeline Holdings. The AHD Plan is administered by our compensation committee under delegation from
the Atlas Pipeline Holdings&#146; board. The compensation committee may grant awards of either phantom
units or unit options for an aggregate of 2,100,000 common limited partner units.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>AHD Phantom Units. </I>A phantom unit entitles a participant to receive an Atlas Pipeline Holdings
common unit upon vesting of the phantom unit. Non-employee board members receive an annual grant of
a maximum of 500 phantom units which, upon vesting, entitles the grantee to receive the equivalent
number of common units or the cash equivalent to the fair market value of the units. In tandem with
phantom unit grants, the compensation committee may grant a DER. The compensation committee
determines the vesting period for phantom units. Phantom units granted under the AHD Plan generally
vest 25% on the third anniversary of the date of grant and 75% on the fourth anniversary of the
date of grant. Awards will automatically vest upon a change of control, as defined in the AHD Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>AHD Unit Options. </I>A unit option entitles a participant to receive a common unit upon payment
of the exercise price for the option after completion of vesting of the unit option. The exercise
price of the unit option may be equal to or more than the fair market value of a common unit as
determined by the compensation committee on the date of grant of the option. The compensation
committee determines the vesting and exercise period for unit options. Unit option awards expire 10
years from the date of grant. Unit options granted generally will vest 25% on the third anniversary
of the date of grant and the remaining 75% on the fourth anniversary of the date of grant. Awards
will automatically vest upon a change of control, as defined in the AHD Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>APL Plan</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Officers, employees and non-employee managing board members of Atlas Pipeline Partners&#146;
general partner and employees of the general partner&#146;s affiliates and consultants are eligible to
receive awards under the APL Plan of either phantom units or unit options for an aggregate of
435,000 common units. The APL Plan is administered by our compensation committee under delegation
from the general partner&#146;s managing board.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>APL Phantom Units. </I>A phantom unit entitles a grantee to receive a common unit upon vesting of
the phantom unit. Non-employee managing board members receive an annual grant of a maximum of 500
phantom units which, upon vesting, entitles the grantee to receive the equivalent number of common
units or the cash equivalent to the fair market value of the units. In addition, the compensation
committee may grant a participant a DER, which is the right to receive cash per phantom unit in an
amount equal to, and at the same time as, the cash distributions Atlas Pipeline Partners makes on a
common unit during the period the phantom unit is outstanding. A unit option entitles the grantee
to purchase common units at an exercise price determined by the compensation committee at its
discretion. Phantom units vest over a four
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->32<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">year period. Awards will automatically vest upon a change of control, as defined in the APL Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>APL Unit Options. </I>A unit option entitles a participant to receive a common unit upon payment
of the exercise price for the option after completion of vesting of the unit option. The exercise
price of the unit option may be equal to or more than the fair market value of a common unit as
determined by the compensation committee on the date of grant of the option. The compensation
committee determines the vesting and exercise period for unit options. Unit option awards expire 10
years from the date of grant. Unit options granted generally will vest 25% on the anniversary of
the date of grant.
</DIV>

<!-- link1 "2009 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>2009 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000"><B>Option awards</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Stock awards</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>securities</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>shares or</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Market value</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>underlying</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>underlying</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>units of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>of shares or</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>unexercised</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>unexercised</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Option</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>stock that</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>units of stock</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>options</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>options</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>exercise</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Option</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>have not</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>that have not</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>(#)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>(#)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>expiration</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>vested</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>vested</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exercisable</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Unexercisable</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>date</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>(#)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Edward E. Cohen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,012,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11.32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7/1/2015</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">225,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/29/2018</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">580,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">19.88</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/24/2017</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">232,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">6,992,480</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">49,050</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">125,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">375,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">22.56</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11/10/2016</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">67,500</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">457,650</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(9)</SUP></TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Matthew A. Jones</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">270,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11.32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7/1/2015</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">90,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(10)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/29/2018</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">58,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(11)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">19.88</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/24/2017</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">23,200</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(12)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">699,248</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1,250</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">12,263</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">75,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">22.56</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11/10/2016</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">15,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">101,700</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(9)</SUP></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Jonathan Z. Cohen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">675,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11.32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7/1/2015</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">180,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(13)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/29/2018</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">232,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(14)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">19.88</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/24/2017</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">116,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(15)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">3,496,240</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3,750</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">36,788</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">150,000</TD>
    <TD nowrap> <SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">22.56</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11/10/2016</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">11,250</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">76,275</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(9)</SUP></TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Richard D. Weber</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84,375</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">28,125</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(16)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">21.27</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4/17/2016</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">67,500</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(17)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/29/2018</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">325,164</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">108,388</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(16)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">18.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4/17/2016</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">13,810</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(18)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">416,233</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->33<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000"><B>Option awards</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Stock awards</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>securities</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>shares or</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Market value</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>underlying</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>underlying</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>units of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>of shares or</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>unexercised</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>unexercised</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Option</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>stock that</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>units of stock</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>options</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>options</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>exercise</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Option</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>have not</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>that have not</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>(#)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>(#)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>expiration</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>vested</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>vested</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exercisable</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Unexercisable</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>date</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>(#)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Freddie Kotek</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">135,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11.32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7/1/2015</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">45,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(19)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/29/2018</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">58,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(11)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">19.88</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/24/2017</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">23,200</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(12)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">699,248</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents options to purchase our stock, which vest as follows: 1/29/10&#151;75,000,
1/29/11&#151;75,000 and 1/29/12&#151;75,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents options to purchase our stock, which vest as follows: 1/24/10 &#150; 145,000
and 1/24/11 &#150; 435,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents our phantom stock, which vests as follows: 1/24/10 &#150; 58,000 and 1/24/17 &#150;
174,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Based upon closing price of our stock on December&nbsp;31, 2009 of $30.14.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents Atlas Pipeline Partners phantom units, which vest on 11/1/10.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Based on closing market price of Atlas Pipeline Partners common units on December
31, 2009 of $9.81.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents Atlas Pipeline Holdings options, which vest on 11/10/10.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents Atlas Pipeline Holdings phantom units, which vest on 11/10/10.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(9)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Based on closing market price of Atlas Pipeline Holdings common units on December
31, 2009 of $6.78.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(10)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents options to purchase our stock, which vest as follows:
1/29/10&#151;30,000, 1/29/11&#151;30,000 and 1/29/12&#151;30,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(11)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents options to purchase our stock, which vest as follows: 1/24/10 &#150;
14,500 and 1/24/11 &#150; 43,500.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(12)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents our phantom stock, which vests as follows: 1/24/10 &#150; 5,800 and
1/24/17 &#150; 17,400.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(13)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents options to purchase our stock, which vest as follows:
1/29/10&#151;60,000, 1/29/11&#151;60,000 and 1/29/12&#151;60,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(14)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents options to purchase our stock, which vest as follows: 1/24/10 &#150;
58,000 and 1/24/11 &#150; 174,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(15)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents our phantom stock, which vests as follows: 1/24/10 &#150; 29,000 and
1/24/17 &#150; 87,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(16)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents options to purchase our stock, which vest on 4/17/10.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(17)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents options to purchase our stock, which vest as follows:
1/29/10&#151;22,500, 1/29/11&#151;22,500 and 1/29/12&#151;22,500.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(18)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents restricted stock, which vests on 4/17/10.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(19)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents options to purchase our stock, which vest as follows:
1/29/10&#151;15,000, 1/29/11&#151;15,000 and 1/29/12&#151;15,000.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio -->34<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "2009 OPTION EXERCISES AND STOCK VESTED TABLE" -->
<DIV align="left"><A NAME="010"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>2009 OPTION EXERCISES AND STOCK VESTED TABLE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Stock awards</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Value realized</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>on vesting</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>acquired on vesting</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Edward E. Cohen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">32,500</TD>
    <TD nowrap> <SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">802,850</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Matthew A. Jones</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">10,000</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">289,363</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Jonathan Z. Cohen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">18,125</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">449,550</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Richard D. Weber</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">13,809</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">569,759</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Freddie M. Kotek</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">250</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10,275</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents 10,000 common units of Atlas Pipeline Partners and 22,500 common
units of Atlas Pipeline Holdings.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents 5,000 common units of Atlas Pipeline Partners and 5,000 common units of
Atlas Pipeline Holdings.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents 6,875 common units of Atlas Pipeline Partners and 11,250 common units of
Atlas Pipeline Holdings.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents our common stock.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents Atlas Pipeline Partners common units.</TD>
</TR>

</TABLE>


<!-- link1 "2009 PENSION BENEFITS TABLE" -->
<DIV align="left"><A NAME="011"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>2009 PENSION BENEFITS TABLE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of years</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Present value of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Payments during last</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>credited service</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>accumulated benefit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>fiscal year</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Plan Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>(#)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Edward E. Cohen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">SERP</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,968,149</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For a description of Mr.&nbsp;Cohen&#146;s SERP, please see &#147;Employment Agreements&#151;Edward E.
Cohen&#148;, and for a discussion of the valuation method and material assumptions applied in
quantifying the present value of the accumulated benefit, please see note 18 to our consolidated
financial statements.
</DIV>

<!-- link1 "2009 DIRECTOR COMPENSATION TABLE" -->
<DIV align="left"><A NAME="012"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>2009 DIRECTOR COMPENSATION TABLE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Fees earned or</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>paid in cash ($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Stock awards ($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Total ($)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Carlton M. Arrendell</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">62,691</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,992</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">77,683</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">William R. Bagnell</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,120</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,992</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">47,112</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mark C. Biderman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">30,734</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,995</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">45,729</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Jessica K. Davis</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17,691</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,990</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,681</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Donald W. Delson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">62,691</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,992</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">77,683</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nicholas A. DiNubile</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">45,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,992</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">59,992</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dennis A. Holtz</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">62,691</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,992</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">77,683</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gayle P.W. Jackson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">30,734</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,995</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">45,729</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Walter C. Jones</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17,691</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,990</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,681</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harmon S. Spolan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">62,691</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,994</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">77,685</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ellen F. Warren</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17,691</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,990</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,681</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bruce M. Wolf</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17,691</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,990</TD>
    <TD nowrap><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,681</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->35<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>For Messrs.&nbsp;Arrendell, Bagnell, Delson, DiNubile and Holtz, represents
961 deferred shares granted under the 2004 Plan, having a grant date fair value of $15.60. The
shares vest one-third on each of the second, third and fourth anniversaries of the date of grant,
as follows: 5/14/11&#151;320, 5/14/12&#151;320 and 5/14/13&#151;321. Messrs.&nbsp;Bagnell and DiNubile did not stand
for re-election and, in connection with their departure from the Board, were granted accelerated
vesting for these and all other unvested shares they were awarded in connection with their service
on the Board.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>For Mr.&nbsp;Biderman and Dr.&nbsp;Jackson, represents 892 deferred shares granted under the
2004 Plan, having a grant date fair value of $16.81. The shares vest one-third on each of the
second, third and fourth anniversaries of the date of grant, as follows: 7/13/11&#151;297, 7/13/12&#151;297
and 7/13/13&#151;298.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>For Mr.&nbsp;Spolan, represents 608 deferred shares granted under the 2004 Plan, having a
grant date fair value of $24.66. The shares vest one-third on each of the second, third and fourth
anniversaries of the date of grant, as follows: 8/24/11&#151;202, 8/24/12&#151;203 and 8/24/13&#151;203.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>For Messrs.&nbsp;Jones and Wolf and Mmes. Davis and Warren, represents 573 deferred
shares granted under the 2004 Plan, having a grant date fair value of $26.16. The shares vest
one-third on each of the second, third and fourth anniversaries of the date of grant, as follows:
9/29/11&#151;191, 9/29/12&#151;191, and 9/29/13&#151;191.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Director Compensation</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The independent directors receive a flat fee of $75,000 per year, which was increased from
$60,000 in October&nbsp;2009. In addition to the cash compensation, independent directors receive an
annual grant of deferred stock having a fair market value of $15,000 with a vesting schedule in
which 33% of the award vests on the second, third and fourth anniversaries of the grant date.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->36<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Performance Graph</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following graph compares the cumulative total stockholder return on our common stock with
the cumulative total return of two other stock market indices: the Nasdaq United States Composite
and S&#038;P Small-Cap 600 Energy Index.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="w78021w7802101.gif" alt="(LINE GRAPH)">
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Fiscal Year Ended December&nbsp;31
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Assumes $100 was invested on December&nbsp;31, 2004 in the Company&#146;s common stock or in the
indicated index and that cash dividends were reinvested as received.</TD>
</TR>

</TABLE>


<!-- link1 "INDEPENDENT PUBLIC ACCOUNTANTS" -->
<DIV align="left"><A NAME="013"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INDEPENDENT PUBLIC ACCOUNTANTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our independent registered public accountants for the fiscal year ended December&nbsp;31, 2009 was
Grant Thornton LLP. Upon the recommendation of the audit committee, approved by the Board, Grant
Thornton LLP served as our independent auditors during fiscal year 2009. Grant Thornton LLP has
been re-appointed as our independent auditors for fiscal year 2010. We do not anticipate that a
representative of Grant Thornton LLP will be present at the Meeting.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->37<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the years ended December&nbsp;31, 2009 and 2008, Grant Thornton LLP&#146;s accounting fees and
services (in thousands) were as follows:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Years Ended December 31,</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Audit fees<SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">513</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">323</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Audit-related fees<SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">161</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">56</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Tax fees<SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">103</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">All other fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total accounting fees and services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">694</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">482</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the aggregate fees recognized in each of the last two years for
professional services rendered by Grant Thornton LLP principally for the audit of our annual
financial statements and the review of financial statements included in Form 10-Q and also for
services related to registration statements and comfort letters. The fees are for services that
are normally provided by Grant Thornton LLP in connection with statutory or regulatory filings or
engagements.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the aggregate fees recognized in each of the last two years professional
services rendered by Grant Thornton LLP for the annual audit of our employee benefit plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>The fees for tax services rendered related to tax compliance.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Audit Committee Pre-Approval Policies and Procedures</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The audit committee, on at least an annual basis, reviews audit and non-audit services
performed by Grant Thornton LLP as well as the fees charged by Grant Thornton LLP for such
services. Our policy is that all audit and non-audit services must be pre-approved by the audit
committee. All of such services and fees were pre-approved during 2009 and 2008.
</DIV>

<!-- link1 "SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE" -->
<DIV align="left"><A NAME="014"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;16(a) of the Securities Exchange Act of 1934 requires our officers, directors and
persons who own more than 10% of a registered class of our equity securities to file reports of
ownership and changes in ownership with the SEC and to furnish us with copies of all such reports.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based solely on our review of the reports we have received, or written representations from
certain reporting persons that no filings were required for those persons, we believe that during
fiscal 2009 our executive officers, directors and greater than 10% stockholders complied with all
applicable filing requirements of Section 16(a) of the Securities Exchange Act, except Dr.&nbsp;Jackson
and Messrs.&nbsp;Biderman and Weber each inadvertently filed one Form&nbsp;3 late and Ms.&nbsp;Davis, Dr.&nbsp;Jackson,
Ms.&nbsp;Warren and Messrs.&nbsp;Arrendell, Biderman, Jones and Wolf each inadvertently filed one Form&nbsp;4
late.
</DIV>

<!-- link1 "CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS" -->
<DIV align="left"><A NAME="015"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective as of April&nbsp;28, 2009, we adopted a written policy governing related party
transactions. For purposes of this policy, a related party includes: (i)&nbsp;any executive officer,
director or director nominee; (ii)&nbsp;any person known to be a beneficial owner of 5% or more of our
common stock; (iii)&nbsp;an immediate family member of any person included in clauses (i)&nbsp;and (ii)
(which, by definition, includes, a person&#146;s spouse, parents and parents in law, step parents,
children, children in law and stepchildren, siblings and brothers and sisters in law and anyone
residing in the that person&#146;s home); and (iv)&nbsp;any firm, corporation or other entity in which any
person included in clauses (i)&nbsp;through (iii)&nbsp;above is employed as
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->38<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">an executive officer, is a director, partner, principal or occupies a similar position or in which
that person owns a 5% or more beneficial interest. With certain exceptions outlined below, any
transaction between us and a related party that is anticipated to exceed $120,000 in any calendar
year must be approved, in advance, by our Conflicts Committee. If approval in advance is not
feasible, the related party transaction must be ratified by the Conflicts Committee. In approving a
related party transaction the Conflicts Committee will take into account, in addition to such other
factors as the Conflicts Committee deems appropriate, the extent of the related party&#146;s interest in
the transaction and whether the transaction is no less favorable to us than terms generally
available to an unaffiliated third party under similar circumstances.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following related party transactions are pre-approved under the policy: (i)&nbsp;employment of
an executive officer to perform services on our behalf (or on behalf of one of our subsidiaries);
(ii)&nbsp;compensation paid to directors for serving on our board of directors or any committee thereof;
(iii)&nbsp;transactions where the related party&#146;s interest arises solely from ownership of our common
stock and all of the holders of our common stock received the same benefit on a pro rata basis, or
transactions available to all employees generally; (iv)&nbsp;a transaction with another company where
the related party is only an employee (and not an executive officer), director or beneficial owner
of less than 10% of such company&#146;s shares and the aggregate amount involved does not exceed the
greater of $1,000,000 or 2% of that company&#146;s total annual revenues; and (v)&nbsp;any charitable
contribution, grant or endowment by us to a charitable organization, foundation or university at
which the related party&#146;s only relationship is as an employee (other than an executive officer) or
director or in a similar capacity, if the aggregate amount involved does not exceed the greater of
$5,000 or 2% of that organization&#146;s total annual receipts. We are not aware of any related party
transactions requiring approval under the policy that were undertaken in 2009.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the ordinary course of our business operations, we and our affiliates have ongoing
relationships with several related entities:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Relationship with Atlas Energy Resources Partnerships. </I>Atlas Energy Resources conducts certain
activities through, and a substantial portion of its revenues are attributable to, energy limited
partnerships. Atlas Energy Resources serves as general partner of these partnerships and assumes
customary rights and obligations for them. As the general partner, Atlas Energy Resources is liable
for the partnerships&#146; liabilities and can be liable to limited partners if it breaches its
responsibilities with respect to the operations of the partnerships. Atlas Energy Resources is
entitled to receive management fees, reimbursement for administrative costs incurred, and to share
in the partnerships&#146; revenue, and costs and expenses according to the respective partnership
agreements.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Relationship with Atlas Pipeline Holdings. </I>On June&nbsp;1, 2009, Atlas Pipeline Holdings entered
into an amendment to its revolving credit facility. In connection with the execution of the
amendment, Atlas Pipeline Holdings agreed to immediately repay $30&nbsp;million of the approximately $46
million then-outstanding indebtedness under the credit facility. The amendment also terminated
Atlas Pipeline Holdings&#146; right to make further borrowings under the credit facility. Atlas Pipeline
Holdings agreed to repay $4&nbsp;million of the remaining $16&nbsp;million on each of July&nbsp;13, 2009, October
13, 2009 and January&nbsp;13, 2010, with the balance of indebtedness being due on the original maturity
date of April&nbsp;13, 2010. In connection with the execution of this amendment, we agreed to guarantee
the remaining debt outstanding under the credit facility. Pursuant to this guaranty, we have paid
$4&nbsp;million in respect of the payments due on July&nbsp;13, 2009, October&nbsp;13, 2009 and January&nbsp;13, 2010
under the Atlas Pipeline Holdings credit agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlas Pipeline Holdings&#146; $30&nbsp;million repayment was funded from the proceeds of (i)&nbsp;a loan from
us in the amount of $15&nbsp;million, with an interest rate of 12% per annum and a maturity date the
</DIV>




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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">day following the day Atlas Pipeline Holdings pays all outstanding indebtedness due under the
credit facility, and (ii)&nbsp;the purchase by Atlas Pipeline Partners of $15&nbsp;million of preferred
equity in a newly formed subsidiary of Atlas Pipeline Holdings. Moreover, in consideration of our
guaranty, Atlas Pipeline Holdings issued a guaranty note to us whose principal amount is increased
on the first day of each fiscal quarter by an amount equal to 3.75% per annum multiplied by the
outstanding principal amount of indebtedness under AHD&#146;s credit facility plus a $1.0&nbsp;million
guaranty fee. The maturity date on this note is the day following the day Atlas Pipeline Holdings
pays all outstanding indebtedness due under the credit facility. Both promissory notes issued to us
by Atlas Pipeline Holdings are payable-in-kind until their maturity date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Relationship with Resource America. </I>We have the following agreements with Resource America,
our former parent, for which Edward E. Cohen, our Chairman and Chief Executive Officer, serves as
Chairman and is a greater than 10% shareholder, and Jonathan Z. Cohen, our Vice Chairman, serves as
Chief Executive Officer and President.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Tax Matters Agreement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As part of our initial public offering in 2004, we entered into a tax matters agreement with
Resource America, which governs our respective rights, responsibilities, and obligations after our
initial public offering with respect to tax liabilities and benefits, tax attributes, tax contests
and other matters regarding income taxes, non-income taxes and related tax returns.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In general, under the tax matters agreement:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Resource America is responsible for any U.S. federal income taxes of the affiliated
group for U.S. federal income tax purposes of which Resource America is the common parent.
With respect to any periods beginning after our initial public offering, we are responsible
for any U.S. federal income taxes attributable to us or any of our subsidiaries, including
taxes payable as a result of our June&nbsp;2005 spin-off from Resource America.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Resource America is responsible for any U.S. state or local income taxes reportable on
a consolidated, combined or unitary return that includes Resource America or one of its
subsidiaries, on the one hand, and us or one of our subsidiaries, on the other hand.
However, in the event that we or one of our subsidiaries are included in such a group for
U.S. state or local income tax purposes for periods (or portions thereof) beginning after
the date of our initial public offering, we are responsible for our portion of such income
tax liability as if we and our subsidiaries had filed a separate tax return that included
only us and our subsidiaries for that period (or portion of a period).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Resource America is responsible for any U.S. state or local income taxes reportable on
returns that include only Resource America and its subsidiaries (excluding us and our
subsidiaries), and we are responsible for any U.S. state or local income taxes filed on
returns that include only us and our subsidiaries.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Resource America and we are each responsible for any non-income taxes attributable to
our business for all periods.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resource America is primarily responsible for preparing and filing any tax return with respect
to the Resource America affiliated group for U.S. federal income tax purposes and with respect to
any consolidated, combined or unitary group for U.S. state or local income tax purposes that
includes Resource America or any of its subsidiaries. We generally are responsible for preparing
and filing any tax returns that include only us and our subsidiaries.
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have generally agreed to indemnify Resource America and its affiliates against any and all
tax-related liabilities that may be incurred by them relating to the distribution to the extent
such liabilities are caused by our actions. This indemnification applies even if Resource America
has permitted us to take an action that would otherwise have been prohibited under the tax-related
covenants as described above.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During 2009, we did not have any liability to Resource America pursuant to the tax matters
agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Transition Services Agreement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Also in connection with our initial public offering, we entered into a transition services
agreement with Resource America which governs the provision support services between us, such as:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>cash management and debt service administration;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>accounting and tax;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>investor relations;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>payroll and human resources administration;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>legal;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>information technology;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>data processing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>real estate management; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>other general administrative functions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We and Resource America will pay each other a fee for these services equal to their fair
market value. The fee is payable monthly in arrears, 15&nbsp;days after the close of each month. We have
also agreed to pay or reimburse each other for any out-of-pocket payments, costs and expenses
associated with these services. During fiscal 2009, we reimbursed Resource America $1.1&nbsp;million
pursuant to this agreement. Certain operating expenditures totaling $0.2&nbsp;million that remain to be
settled between are reflected in our consolidated balance sheets as advances from affiliate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Resource America&#146;s relationship with Anthem Securities (a wholly-owned subsidiary of Atlas
Energy Resources). </I>Anthem Securities, until December&nbsp;2006 our wholly-owned subsidiary and now a
wholly-owned subsidiary of Atlas Energy Resources, is a registered broker-dealer which provides
dealer-manager services for investment partnerships sponsored by Resource America&#146;s real estate and
equipment finance segments. Salaries of the personnel performing services for Anthem are paid by
Resource America, and Anthem reimburses Resource America for the allocable costs of such personnel.
In addition, Resource America agreed to cover some of the operating costs for Anthem&#146;s office of
supervisory jurisdiction, principally licensing fees and costs. In fiscal 2009, there was no
activity requiring reimbursements.
</DIV>

<!-- link1 "OTHER MATTERS" -->
<DIV align="left"><A NAME="016"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>OTHER MATTERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the date of this proxy statement, the Board does not intend to present and has not been
informed that any other person intends to present any other matters for action at the Meeting.
However, if
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">other matters do properly come before the Meeting, it is the intention of the persons named as
proxies to vote upon them in accordance with their best judgment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as hereinabove stated, all shares represented by valid proxies received will be voted
in accordance with the provisions of the proxy.
</DIV>

<!-- link1 "STOCKHOLDERS SHARING AN ADDRESS" -->
<DIV align="left"><A NAME="017"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>STOCKHOLDERS SHARING AN ADDRESS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stockholders sharing an address with another stockholder may receive only one annual report or
one set of proxy materials at that address unless they have provided contrary instructions. Any
such stockholder who wishes to receive a separate copy of the annual report or a separate set of
proxy materials now or in the future may write or call to request a separate copy of these
materials from: Investor Relations, Westpointe Corporate Center One, 1550 Coraopolis Heights Road,
2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Floor, Moon Township, PA 15108; telephone number (412)&nbsp;262-2830. We will promptly
deliver a copy of the requested materials.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Similarly, stockholders sharing an address with another stockholder who have received multiple
copies of our proxy materials may write or call the above address and phone number to request
delivery of a single copy of these materials.
</DIV>

<!-- link1 "ANNUAL REPORT ON FORM 10-K" -->
<DIV align="left"><A NAME="018"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ANNUAL REPORT ON FORM 10-K</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Our 2009 Annual Report to Stockholders including the financial statements and management&#146;s
discussion and analysis of financial condition and results of operations for the year ended
December&nbsp;31, 2009, is being sent to stockholders of record as of April&nbsp;5, 2010 with this proxy
statement. Stockholders of record as of April&nbsp;5, 2010, and beneficial owners of our common stock on
that date, may obtain from us, without charge, a copy of our most recent Annual Report on Form&nbsp;10-K
filed with the SEC, exclusive of the exhibits thereto, by a request therefor in writing. We will
also furnish any exhibit to this Annual Report upon the payment of reasonable fees relating to our
expenses in furnishing the exhibit. Such requests should be directed to us at our Moon Township
address stated herein, and to the attention of the Secretary. Beneficial owners shall include in
their written requests a good faith representation that they were beneficial owners of our common
stock on April&nbsp;5, 2010.</B>
</DIV>

<!-- link1 "STOCKHOLDER PROPOSALS OR DIRECTOR NOMINATIONS" -->
<DIV align="left"><A NAME="019"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>STOCKHOLDER PROPOSALS OR DIRECTOR NOMINATIONS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rule&nbsp;14a-8 of the Securities Exchange Act establishes the eligibility requirements and the
procedures that must be followed for a stockholder&#146;s proposal or director nomination to be included
in a public company&#146;s proxy materials. Under the rule, proposals or director nominations submitted
for inclusion in our 2011 proxy materials must be received by us at Westpointe Corporate Center
One, 1550 Coraopolis Heights Road, 2<SUP style="FONT-size: 85%; vertical-align: text-top">nd</SUP> Floor, Moon Township, Pennsylvania 15108,
Attention: Secretary, on or before December&nbsp;15, 2010. Proposals must comply with all the
requirements of Rule&nbsp;14a-8.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A stockholder who wishes to present a matter for action at our 2011 annual meeting, but does
not want to include it in our proxy materials, must deliver to our Secretary on or before January
14, 2011, which date is 90&nbsp;days before the first anniversary of the mailing date of this proxy
statement, a notice containing the information required by the advance notice and other provisions
of our bylaws. A stockholder who wishes to present one or more directors for nomination at our 2011
annual meeting, but
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">does not want to include it in our proxy materials, must deliver a notice containing the
information required by the advance notice and other provisions of our bylaws, including the name
of the person(s) to be nominated, to our Secretary on or before January&nbsp;14, 2011. A copy of the
bylaws may be obtained by directing a written request to us at Westpointe Corporate Center One,
1550 Coraopolis Heights Road, 2nd Floor, Moon Township, Pennsylvania 15108, Attention: Secretary.
</DIV>



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</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 11pt; margin-top: 18pt"><B>ATLAS ENERGY, INC.</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 18pt"><B>PROXY</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 18pt"><B>THIS PROXY IS SOLICITED ON BEHALF OF<BR>
THE BOARD OF DIRECTORS OF ATLAS ENERGY, INC.</B>
</DIV>


<DIV align="left" style="font-size: 11pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby constitutes and appoints Edward E. Cohen and Richard D. Weber, or
either of them, as and for his proxies, each with the power to appoint such proxy&#146;s substitute, and
hereby authorizes them, or either of them, to vote all of the shares of common stock of Atlas
Energy, Inc. held of record by the undersigned on April&nbsp;5, 2010 at the Annual Meeting of
Stockholders of Atlas Energy, Inc. to be held Thursday, May&nbsp;13, 2010 and at any and all
adjournments thereof as follows:
</DIV>

<DIV align="center" style="font-size: 11pt; margin-top: 18pt">(Continued and to be signed on the reverse side.)
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 22pt"><DIV style="width: 100%; border-bottom: 2px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 11pt; margin-top: 12pt"><B>PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR
BLACK INK AS SHOWN HERE &#091;x&#093;</B>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ELECTION OF CLASS I DIRECTORS: The nominees for Class&nbsp;II directors:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 12pt">Nominees:
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Carlton M. Arrendell</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Jonathan Z. Cohen</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Donald W. Delson</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 30pt" >
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-family: Wingdings">&#111;</FONT> FOR ALL NOMINEES
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT>WITHHOLD AUTHORITY
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT> FOR ALL EXCEPT:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">FOR ALL NOMINEES
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(See instructions below)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 20pt">Instruction: To withhold authority to vote for any individual nominee(s), mark &#147;FOR ALL EXCEPT&#148; and
fill in the box next to each nominee you wish to withhold, as shown here: <FONT style="font-family: Wingdings">&#110;</FONT>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 25pt"><B>THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER<br>
SPECIFIED HEREIN BY THE UNDERSIGNED. IF NO CHOICE IS SPECIFIED, THIS PROXY WILL BE VOTED &#147;FOR&#148; ALL
NOMINEES LISTED. THIS PROXY ALSO DELEGATES DISCRETIONARY AUTHORITY TO VOTE WITH RESPECT TO ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING, OR WITH RESPECT TO ANY ADJOURNMENT,
POSTPONEMENT OR CONTINUATION THEREOF. BY EXECUTING THIS PROXY, THE UNDERSIGNED HEREBY REVOKES ALL
PRIOR PROXIES.</B>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 20pt">The undersigned hereby acknowledges receipt of the Atlas Energy, Inc. Annual Report to
Stockholders, Notice of the Atlas Energy, Inc. Annual Meeting and the Proxy Statement relating
thereto.
</DIV>


<DIV align="left" style="font-size: 11pt; margin-top: 12pt"><B>PLEASE MARK, SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.</B>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt">
Mark &#147;X&#148; here if you plan to attend the meeting. <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt">
To change the address on your account, please check the box at right and indicate <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt">your new address in the address space above. Please note that changes to the registered name(s) on
the account may not be submitted via this method.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 15pt">Date: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 18pt"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">Signature of stockholder</FONT></DIV>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 11pt; margin-top: 6pt"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">Signature of stockholder</FONT></DIV>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 20pt">Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each
holder should sign. When signing as an executor, administrator, attorney, trustee or guardian,
please give full title as such. If the signer is a corporation, please sign full corporate name by
duly authorized officer, giving full title as such. If signer is a partnership, please sign in
partnership name by authorized person.
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 50pt"><B>ANNUAL MEETING OF STOCKHOLDERS OF</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt"><B>ATLAS ENERGY, INC.</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt">May&nbsp;13, 2010
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt">Please
date, sign and mail<BR> your proxy card in the <BR>envelope provided as soon as possible.
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt"><B>Important Notice Regarding the Availability of Proxy Materials for<BR>
the Meeting to be held on May&nbsp;13, 2010:</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt"><B>The proxy statement and our 2009 Annual Report are available at</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 18pt"><u>http://phx.corporate-ir.net/phoenix.zhtml?c=176445&#038;p=irol-reportsAnnual</u>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 11pt; margin-top: 18pt"><B>ATLAS ENERGY, INC.</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 18pt"><B>PROXY</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 18pt"><B>THIS PROXY IS SOLICITED ON BEHALF OF</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 0pt"><B>THE TRUSTEE OF THE</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 0pt"><B>ATLAS ENERGY, INC. EMPLOYEE STOCK OWNERSHIP PLAN</B>
</DIV>


<DIV align="left" style="font-size: 11pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned, a participant in the Atlas Energy, Inc. Employee Stock Ownership Plan
(&#147;ESOP&#148;), hereby directs GreatBanc Trust Company, as Trustee of the ESOP, to vote, as designated
below, all the shares of common stock of Atlas Energy, Inc. allocated to the account of the
undersigned in the ESOP (the &#147;Allocated Shares&#148;) at the Annual Meeting of Stockholders of Atlas
Energy, Inc. to be held Thursday, May&nbsp;13, 2010 and at any and all adjournments thereof as follows:
</DIV>

<DIV align="center" style="font-size: 11pt; margin-top: 12pt">(Continued and to be signed on the reverse side.)
</DIV>








<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 11pt; margin-top: 12pt"><B>PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR
BLACK INK AS SHOWN HERE &#091;x&#093;</B>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ELECTION OF CLASS I DIRECTORS: The nominees for Class&nbsp;II directors: </TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 12pt">Nominees:</DIV>

<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Carlton M. Arrendell</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Jonathan Z. Cohen</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Donald W. Delson</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 20pt">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-family: Wingdings">&#111;</FONT> FOR ALL NOMINEES
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT> WITHHOLD AUTHORITY
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT> FOR ALL EXCEPT:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">FOR ALL NOMINEES
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(See instructions below)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 20pt"><U>Instruction:</U> To withhold authority to vote for any individual nominee(s), mark &#147;FOR ALL EXCEPT&#148; and
fill in the box next to each nominee you wish to withhold, as shown here: <FONT style="font-family: Wingdings">&#110;</FONT>

</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 25pt"><B>This Proxy Card, when properly executed, will be voted in the manner directed herein by the
Trustee, subject to the Trustee&#146;s obligations under ERISA. If no direction is made, the shares
allocated to your account will be voted by the Trustee in its discretion. If you vote to &#147;Abstain&#148;
on a matter, your shares will be voted by the Trustee as if you had failed to vote your shares.</B>
</DIV>


<DIV align="left" style="font-size: 11pt; margin-top: 12pt"><B>THIS PROXY CARD IS SOLICITED ON BEHALF OF THE TRUSTEE OF THIS ESOP.</B>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt"><B>You will not be entitled to vote the Allocated Shares to your ESOP account at the stockholders&#146;
meeting. </B>Therefore, if we do not receive your Proxy Card by May&nbsp;7, 2010, you, in effect, will be
forfeiting the voting rights, which the ESOP makes available to you. We encourage all ESOP
participants to exercise their right to vote the Allocated Shares in their ESOP accounts by
returning their Proxy Cards promptly. If you decide to change your voting instructions after you
have submitted your Proxy Card, you must obtain a new Proxy Card from us by contacting us at the
address set forth below. If you have any questions or comments concerning the votes to be taken at
the annual meeting, or concerning the procedure for completing and returning your Proxy Card,
please call or write Patrick De Craene, who is a Vice President of the Trustee, at GreatBanc Trust
Company, 801 Warrenville Road, Suite&nbsp;500, Lisle, Illinois 60532, telephone (630)&nbsp;810-4500; fax (630)
810-4501. Your telephone call or other communication with Mr.&nbsp;De Craene will be kept confidential.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt">The undersigned hereby revokes any proxy or proxies heretofore given to vote upon or act with
respect to such stock and hereby ratifies and confirms all that said proxies, their substitutes or
any of them may lawfully do by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt">Mark &#147;X&#148; here if you plan to attend the meeting. <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 11pt; margin-top: 6pt">To change the address on your account, please check the box at right and indicate <FONT style="font-family: Wingdings">&#111;</FONT><br>
your new
address in the address space above. Please note that changes to the registered name(s) on the
account may not be submitted via this method.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt">Date: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top:18pt">
<DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">Signature of stockholder</FONT></DIV>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 20pt"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">Signature of stockholder</FONT></DIV>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 25pt">Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each
holder should sign. When signing as an executor, administrator, attorney, trustee or guardian,
please give full title as such. If the signer is a corporation, please sign full corporate name by
duly authorized officer, giving full title as such. If signer is a partnership, please sign in
partnership name by authorized person.
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 25pt"><B>ANNUAL MEETING OF STOCKHOLDERS OF</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt"><B>ATLAS ENERGY, INC.</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt">May&nbsp;13, 2010
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt">Please
date, sign and mail <BR>your proxy card in the<BR> envelope provided as soon as possible.
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt"><B>Important Notice Regarding the Availability of Proxy Materials for<BR>
the Meeting to be held on May&nbsp;13, 2010:</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 12pt"><B>The proxy statement and our 2009 Annual Report are available at</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 25pt"><u>http://phx.corporate-ir.net/phoenix.zhtml?c=176445&#038;p=irol-reportsAnnual</u>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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`
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