0001104659-12-005488 Sample Contracts

RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • January 31st, 2012 • Carbon Natural Gas Co • Crude petroleum & natural gas • Delaware

THIS RESTRICTED STOCK AGREEMENT (this “Agreement”) is made as of the day of , 2012 (the “Effective Date”), between Carbon Natural Gas Company, a Delaware corporation (the “Company”), and (the “Employee”).

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RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • January 31st, 2012 • Carbon Natural Gas Co • Crude petroleum & natural gas • Delaware

THIS RESTRICTED STOCK AGREEMENT (this “Agreement”) is made as of the day of , 2012, between Carbon Natural Gas Company, a Delaware corporation (the “Company”), and (the “Director”).

CARBON NATURAL GAS COMPANY
Performance Unit Award Agreement • January 31st, 2012 • Carbon Natural Gas Co • Crude petroleum & natural gas • Delaware
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