0001108017-04-000032 Sample Contracts

STOCK AWARD AGREEMENT
Stock Award Agreement • February 6th, 2004 • Ener1 Inc • Telephone & telegraph apparatus • Florida

This Agreement is made effective as of the 16th day of May, 2003 between Ener1, Inc., a Florida corporation (the “Company”), and Larry Light, an Individual.

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STOCK AWARD AGREEMENT
Stock Award Agreement • February 6th, 2004 • Ener1 Inc • Telephone & telegraph apparatus • Florida

This Agreement is made effective as of the 16th day of May, 2003 between Ener1, Inc., a Florida corporation (the “Company”), and Ronald Stewart, an Individual.

ENER1, INC.
Incentive Stock Option Agreement • February 6th, 2004 • Ener1 Inc • Telephone & telegraph apparatus

The Board of Directors of ENER1, INC. (the “Corporation”) is pleased to award you an Option pursuant to the provisions of the ENER1, INC. (formerly ENERNOW, INC.) 2002 Stock Participation Plan (the “Plan”). This Grant Form will describe the Option granted to you. Attached to this letter is a copy of the Plan. The terms of the Plan also set forth provisions governing the Option granted to you. Therefore, in addition to reading this letter you should also read the Plan. Your signature on this letter is an acknowledgement to us that you have read and understand the Plan and that you agree to abide by its terms. All terms not defined in this letter shall have the same meaning as in the Plan.

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