0001104659-05-045294 Sample Contracts

CANO PETROLEUM INC. NONQUALIFIED STOCK OPTION AGREEMENT
Nonqualified Stock Option Agreement • September 22nd, 2005 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas
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EMPLOYMENT AGREEMENT
Employment Agreement • September 22nd, 2005 • 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 James K. Teringo, Jr., an individual currently residing in Dallas County, Texas (“Vice President”), as of the 11th day of July, 2005 (the “Effective Date”). Company and Vice President may sometimes be referred to herein individually as “Party” and collectively as “Parties.”

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