Common use of Grant of Stock Option Clause in Contracts

Grant of Stock Option. As of the Grant Date (identified in Section 18 below), Resaca Exploitation, Inc., a Texas corporation (the “Company”) hereby grants a Nonqualified Stock Option (the “Option”) to the Optionee (identified above), an Employee of the Company, to purchase the number of shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”), identified in Section 18 below (the “Shares”), subject to the terms and conditions of this agreement (the “Agreement”) and the Resaca Exploitation, Inc. 2008 Stock Incentive Plan (the “Plan”). The Plan is hereby incorporated herein in its entirety by reference. The Shares, when issued to Optionee upon the exercise of the Option, shall be fully paid and nonassessable. The Option is not an “incentive stock option” as defined in Section 422 of the Internal Revenue Code.

Grant of Stock Option. As of the Grant Date (identified in Section 18 below), Resaca ExploitationT-3 Energy Services, Inc., a Texas Delaware corporation (the “Company”) ), hereby grants a Nonqualified Nonstatutory Stock Option (the “Option”) to the Optionee (identified above), an Employee employee of the Company, to purchase the number of shares of the Company’s common stock, $0.01 .001 par value per share (the “Common Stock”), ) identified in Section 18 below (the “Shares”), subject to the terms and conditions of this agreement (the “Agreement”) and the Resaca Exploitation, Inc. 2008 T-3 Energy Services 2002 Stock Incentive Plan (the “Plan”). The Plan is hereby incorporated herein in its entirety by reference. The Shares, when issued to Optionee upon the exercise of the Option, shall be fully paid and nonassessable. The Option is not an “incentive stock option” as defined in Section 422 of the Internal Revenue Code.

Grant of Stock Option. As of the Grant Date (identified in Section 18 20 below), Resaca Exploitation, Inc., a Texas corporation (the “Company”) hereby grants a Nonqualified Stock Option (the “Option”) to the Optionee (identified above), a citizen of the United Kingdom, and an Employee Outside Director of the Company, to purchase the number of shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”), identified in Section 18 20 below (the “Shares”), subject to the terms and conditions of this agreement (the “Agreement”) and the Resaca Exploitation, Inc. 2008 Stock Incentive Plan (the “Plan”). The Plan is hereby incorporated herein in its entirety by reference. The Shares, when issued to Optionee upon the exercise of the Option, shall be fully paid and nonassessable. The Option is not an “incentive stock option” as defined in Section 422 of the U.S. Internal Revenue Code.

Grant of Stock Option. As of the Grant Date (identified in Section 18 20 below), Resaca Exploitation, Inc., a Texas corporation (the “Company”) ), hereby grants a Nonqualified an Incentive Stock Option (the “Option”) to the Optionee (identified above), an Employee of the Company, to purchase the number of shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”), ) identified in Section 18 20 below (the “Shares”), subject to the terms and conditions of this agreement (the “Agreement”) and the Resaca Exploitation, Inc. 2008 Stock Incentive Plan (the “Plan”). The Plan is hereby incorporated herein in its entirety by reference. The Shares, when issued to Optionee upon the exercise of the Option, shall be fully paid and nonassessable. The Option is not an “incentive stock option” as defined in Section 422 of the Internal Revenue Code.

Grant of Stock Option. As of the Grant Date (identified in Section 18 19 below), Resaca Exploitation, Inc., a Texas corporation (the “Company”) hereby grants a Nonqualified Stock Option (the “Option”) to the Optionee (identified above), an Employee of the Company, to purchase the number of shares of the Company’s common stock, $0.01 [$ ] par value per share (the “Common Stock”), identified in Section 18 19 below (the “Shares”), subject to the terms and conditions of this agreement (the “Agreement”) and the Resaca Exploitation, Inc. 2008 Stock Incentive Plan (the “Plan”). The Plan is hereby incorporated herein in its entirety by reference. The Shares, when issued to the Optionee upon the exercise of the Option, shall be fully paid and nonassessable. The Option is not an “incentive stock option” as defined in Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”).