|   | 1. | Award                of Restricted Stock.                The Company hereby awards to Employee on this date, ____________                shares of                its common stock, par value $.001 ("Stock"), subject to the terms                and                conditions set forth in this Agreement (the                "Award"). |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Issuance                of Share Certificates or Book Entry Record.                The Company shall, as soon as administratively feasible after execution                of                this Agreement by the Employee, either (1) issue one or more certificates                in the name of the Employee representing the shares of Restricted                Stock                covered by this Award, or (2) direct the Company's transfer agent                for the                Stock to make a book entry record showing ownership for the Restricted                Stock in the name of the Employee, subject to the terms and conditions                of                the Plan and this Agreement. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Custody                of Share Certificates During the Restriction Period.                In the event that the Company issues one or more certificates for                the                Restricted Stock covered by this Award in lieu of book entry, during                the                Restriction Period described below: |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | The                certificate or certificates shall bear the following                legend: |
|--------|----|------------------------------------------------------------------------------------------------|

|   | b. | The                certificates shall be held in custody by the Company until the                restrictions set forth herein shall have lapsed;                and |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | As                a condition to receipt of this Award, the Employee hereby authorizes                the                Company to issue such instructions to the transfer agent as the Company                may deem necessary or proper to comply with the intent and purposes                of                this Agreement and the Plan, including their provisions regarding                forfeiture, and that this paragraph shall be deemed to constitute                the                stock power, endorsed in blank, allowing the Company to instruct                its                transfer agent to cancel any certificate representing shares that                are                forfeited by the Employee pursuant to the terms of the Plan or this                Agreement. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 4. | Terms                of the Plan Shall Govern.                The Award is made pursuant to, and is subject to the Plan, including,                without limitation, its provisions governing Cancellation and Rescission                of Awards. In the case of any conflict between the Plan and this                Agreement, the terms of the Plan shall control. Unless otherwise                indicated, all capitalized terms contained in this Agreement shall                have                the meaning assigned to them in the                Plan. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Restriction                Period.                The Restriction Period for the Restricted Stock awarded to the Employee                under this Agreement shall commence with the date of this Agreement                set                forth above and shall end, for the percentage of the shares indicated                below, on the date when the Restricted Stock shall have vested in                accordance with the following                schedule: |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Date                                                              | Vested                  Percentage         |
|-------------------------------------------------------------------|--------------------------------------------|
|                                                              |                                       |
| Grant                  Date                                       | 25%                  of the awarded shares |
| First                  anniversary of the date of this Agreement  |                                       |
|                                                              | 25%                  of the awarded shares |
| Second                  anniversary of the date of this Agreement |                                       |
|                                                              | 25%                  of the awarded shares |
| Third                  anniversary of the date of this Agreement  |                                       |
|                                                              | 25%                  of the awarded shares |

|   | 6. | Shareholder                Rights.                Subject to the restrictions imposed by this Agreement and the Plan,                the                Employee shall have, with respect to the Restricted Stock covered                by this                Award, all of the rights of a stockholder of the Company holding                Stock,                including the right to vote the shares and the right to receive any                cash                dividends. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7. | Forfeiture                of Shares.                Upon the Employee's Termination of Employment during the Restriction                Period, all shares of Stock covered by this Award that remain subject                to                restriction shall be forfeited by the Employee; provided however,                that if                the Employee's employment is involuntarily terminated during the                Restriction Period by the Company (other than for Cause), or in the                event                of the Employee's Retirement during the Restriction Period, the                Compensation Committee shall have the discretion to waive, in whole                or in                part, any or all remaining restrictions with respect to any or all                of the                Restricted Stock covered by this                Award. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8. | Change                in Control.                In the event of a Change in Control, all shares of Stock covered                by this                Award shall become free of all restrictions and become fully vested                and                transferable. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 9. | Delivery                of Shares.                If and when the Restriction Period expires for a share or shares                of                Restricted Stock without a prior forfeiture, the Company will deliver                certificate(s) for such share(s) to the                Employee. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10. | No                Right to Continued Employment.                Nothing contained in the Plan or this Agreement shall confer upon                the                Employee any right to continued employment nor shall it interfere                in any                way with the right of the Company or any subsidiary or Affiliate                to                terminate the employment of the Employee at any                time. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11. | Withholding                of Taxes.                No later than the date as of which an amount first becomes includible                in                the Employee's gross income for Federal income tax purposes, the                Employee                shall pay to the Company or make arrangements satisfactory to the                Company                regarding the payment of, any Federal, state, local or foreign taxes                of                any kind required by law to be                withheld. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12. | Governing                Law.                The Award made and actions taken under the Plan and this Agreement                shall                be governed by and construed in accordance with the laws of the State                of                Delaware without taking into account its conflict of laws                provisions. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 13. | Acceptance                of Award.                By the Employee's signature below, the Employee accepts the terms                of the                Award, as set forth in this Agreement and in the Plan. Unless the                Company                otherwise agrees in writing, this Agreement shall not be effective                as a                Restricted Stock Award if a copy of this Agreement is not signed                and                returned to the Company. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14. | Binding                Effect.                Subject to the limitations stated above, this Agreement shall be                binding                upon and inure to the benefit of the parties' respective heirs, legal                representatives successors and                assigns. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Signature      Page to Follow**

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|   | MRU Holdings, Inc.                     |
|--------|----------------------------------------|
|   |                                   |
|   | By:_________________________________   |
|   |                                   |
|   | Title:________________________________ |

| _______________________________  | ________________________________ |
|---------------------------------------|----------------------------------|
| Date                                  | Employee                         |
|                                  |                             |

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