0001047469-08-010022 Sample Contracts

CONSENT AND AMENDMENT NO. 1
Subordinated Credit Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas

This CONSENT AND AMENDMENT NO. 1 ("Amendment") entered into and made effective as of June 27, 2008 ("Effective Date") is among Cano Petroleum, Inc., a Delaware corporation ("Borrower"), the Guarantors (as defined below), the Lenders (as defined below), and UnionBanCal Equities, Inc. as administrative agent for such Lenders (in such capacity, the "Administrative Agent").

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THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas

THIS THIRD AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment") is made and entered into by and between Cano Petroleum Inc., a Delaware corporation with its principal executive offices in Fort Worth, Texas (the "Company"), and Patrick M. McKinney, an individual currently residing in Tarrant County, Texas ("Senior Vice President," collectively, the "Parties"), effective as of the 31st day of May, 2008 (the "Amendment Effective Date").

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas

THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT ("Amendment") is made and entered into by and between Cano Petroleum Inc., a Delaware corporation with its principal executive offices in Fort Worth, Texas (the "Company"), and S. Jeffrey Johnson, an individual currently residing in Tarrant County, Texas ("Executive"), effective as of the 31st day of May, 2008 (the "Amendment Effective Date").

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas

THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT ("Amendment") is made and entered into by and between Cano Petroleum Inc., a Delaware corporation with its principal executive offices in Fort Worth, Texas (the "Company"), and Morris B. Smith, an individual currently residing in Tarrant County, Texas ("Senior Vice President"), effective as of the 31st day of May, 2008 (the "Amendment Effective Date").

EMPLOYMENT AGREEMENT
Employment Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas

THIS EMPLOYMENT AGREEMENT (this "Agreement") is made and entered into by and between Cano Petroleum Inc., a Delaware corporation with its principal executive offices in Fort Worth, Texas (the "Company"), and Phillip Feiner, an individual currently residing in Collin County, Texas ("Employee"), as of the 31st day of May, 2008 (the "Effective Date"). The Company and Employee may sometimes be referred to herein individually as "Party" and collectively as "Parties."

CONSENT AND AMENDMENT NO. 11
Credit Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas

This CONSENT AND AMENDMENT NO. 11 ("Amendment") entered into and made effective as of June 27, 2008 ("Effective Date") is among Cano Petroleum, Inc., a Delaware corporation ("Borrower"), the Guarantors (as defined below), the Lenders (as defined below), and Union Bank of California, N.A., as administrative agent for such Lenders (in such capacity, the "Administrative Agent") and as issuing lender (in such capacity, the "Issuing Lender").

AMENDMENT NO. 12 AND AGREEMENT
Credit Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas

This AMENDMENT NO. 12 AND AGREEMENT ("Amendment") made effective as of June 30, 2008 ("Effective Date") is among Cano Petroleum, Inc., a Delaware corporation ("Borrower"), the Guarantors (as defined below), the Lenders (as defined below), and Union Bank of California, N.A., as administrative agent for such Lenders (in such capacity, the "Administrative Agent") and as issuing lender (in such capacity, the "Issuing Lender").

AMENDMENT NO. 10
Credit Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas

This AMENDMENT NO. 10 ("Amendment") entered into and made effective as of June 10, 2008 ("Effective Date") is among Cano Petroleum, Inc., a Delaware corporation ("Borrower"), the Guarantors (as defined below), the Lenders (as defined below), and Union Bank of California, N.A., as administrative agent for such Lenders (in such capacity, the "Administrative Agent") and as issuing lender (in such capacity, the "Issuing Lender").

AMENDMENT NO. 2
Subordinated Credit Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas

This AMENDMENT NO. 2 ("Amendment") made effective as of June 30, 2008 ("Effective Date") is among Cano Petroleum, Inc., a Delaware corporation ("Borrower"), the Guarantors (as defined below), the Lenders (as defined below), and UnionBanCal Equities, Inc. as administrative agent for such Lenders (in such capacity, the "Administrative Agent").

FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT
Employment Agreement • September 11th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas

THIS FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT ("Amendment") is made and entered into by and between Cano Petroleum Inc., (formerly Huron Ventures, Inc.) a Delaware corporation with its principal executive offices in Fort Worth, Texas (the "Company"), and Michael J. Ricketts, an individual currently residing in Tarrant County, Texas ("Employee"), effective as of the 31st day of May, 2008 (the "Amendment Effective Date"). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the below described Agreement.

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