0001104659-05-054830 Sample Contracts

Teton Energy Corporation 2005 Long-Term Incentive Plan
Share Unit Award Agreement • November 14th, 2005 • Teton Energy Corp • Drilling oil & gas wells

THIS AWARD AGREEMENT, effective as of the Date of Award set forth above, represents the award of Performance Share Units by Teton Energy Corporation, a Delaware corporation (the “Company”), to the Participant named above, pursuant to the provisions of the Plan, which is attached as Exhibit A, and pursuant to the Plan Administration document (the “Plan Administration”), which is attached as Exhibit B.

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TETON ENERGY CORPORATION STOCK OPTION AGREEMENT
Stock Option Agreement • November 14th, 2005 • Teton Energy Corp • Drilling oil & gas wells • Delaware

Unless the context clearly indicates otherwise, capitalized terms used in this Agreement shall have the meanings assigned to such terms in Section 21of this Agreement.

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