Document:

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                                                                    EXHIBIT 10.5

                                ABLE ENERGY, INC.
                          FORM OF STOCK AWARD AGREEMENT

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        THIS STOCK AWARD AGREEMENT ("AGREEMENT") is made and entered into as of
the date set forth below, by and between ABLE ENERGY, INC., a Delaware
corporation (the "COMPANY"), and the employee, director or consultant of the
Company named in Section 1(b). ("GRANTEE"):

        In consideration of the covenants herein set forth, the parties hereto
agree as follows:

        1.      STOCK AWARD INFORMATION.

                        (a)     Date of Award:      ____________________
                        (b)     Grantee:            ____________________
                        (c)     Number of Shares:   ____________________
                        (d)     Original Value:     ____________________

        2.      ACKNOWLEDGEMENTS.

                        (a)     Grantee is a [EMPLOYEE/DIRECTOR/CONSULTANT] of
        the Company.

                        (b)     The Company has adopted a 2005 Incentive Stock
        Plan (the "PLAN") under which the Company's common stock ("Stock") may
        be offered to directors, officers, employees and consultants pursuant to
        an exemption from registration under the Securities Act of 1933, as
        amended (the "SECURITIES ACT") provided by Section 4(2) thereunder.

        3.      SHARES; VALUE. The Company hereby grants to Grantee, upon and
subject to the terms and conditions herein stated, the number of shares of Stock
set forth in Section 1(c) (the "SHARES"), which Shares have a fair value per
share ("ORIGINAL VALUE") equal to the amount set forth in Section 1(d). For the
purpose of this Agreement, the terms "SHARE" or "SHARES" shall include the
original Shares plus any shares derived therefrom, regardless of the fact that
the number, attributes or par value of such Shares may have been altered by
reason of any recapitalization, subdivision, consolidation, stock dividend or
amendment of the corporate charter of the Company. The number of Shares covered
by this Agreement and the Original Value thereof shall be proportionately
adjusted for any increase or decrease in the number of issued shares resulting
from a recapitalization, subdivision or consolidation of shares or the payment
of a stock dividend, or any other increase or decrease in the number of such
shares effected without receipt of consideration by the Company.

        4.      INVESTMENT INTENT. Grantee represents and agrees that Grantee is
accepting the Shares for the purpose of investment and not with a view to, or
for resale in connection with, any distribution thereof; and that, if requested,
Grantee shall furnish to the Company a written statement to such effect,
satisfactory to the Company in form and substance. If the Shares are registered
under the Securities Act, Grantee shall be relieved of the foregoing

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investment representation and agreement and shall not be required to furnish the
Company with the foregoing written statement.

        5.      RESTRICTION UPON TRANSFER. The Shares may not be sold,
transferred or otherwise disposed of and shall not be pledged or otherwise
hypothecated by the Grantee except as hereinafter provided.

                        (a)     REPURCHASE RIGHT ON TERMINATION OTHER THAN FOR
        CAUSE. For the purposes of this Section, a "REPURCHASE EVENT" shall mean
        an occurrence of one of (i) termination of Grantee's employment [OR
        SERVICE AS A DIRECTOR/CONSULTANT] by the Company, voluntary or
        involuntary and with or without cause; (ii) retirement or death of
        Grantee; (iii) bankruptcy of Grantee, which shall be deemed to have
        occurred as of the date on which a voluntary or involuntary petition in
        bankruptcy is filed with a court of competent jurisdiction; (iv)
        dissolution of the marriage of Grantee, to the extent that any of the
        Shares are allocated as the sole and separate property of Grantee's
        spouse pursuant thereto (in which case, this Section shall only apply to
        the Shares so affected); or (v) any attempted transfer by the Grantee of
        Shares, or any interest therein, in violation of this Agreement. Upon
        the occurrence of a Repurchase Event, the Company shall have the right
        (but NOT an obligation) to purchase all or any portion of the Shares of
        Grantee, at a price equal to the fair value of the Shares as of the date
        of the Repurchase Event.

                        (b)     REPURCHASE RIGHT ON TERMINATION FOR CAUSE. In
        the event Grantee's employment [OR SERVICE AS A DIRECTOR/CONSULTANT] is
        terminated by the Company "FOR CAUSE" (as defined below), then the
        Company shall have the right (but not an obligation) to purchase Shares
        of Grantee at a price equal to the Original Value. Such right of the
        Company to purchase Shares shall apply to 100% of the Shares for one (1)
        year from the date of this Agreement; and shall thereafter lapse at the
        rate of twenty percent (20%) of the Shares on each anniversary of the
        date of this Agreement. In addition, the Company shall have the right,
        in the sole discretion of the Board and without obligation, to
        repurchase upon termination for cause all or any portion of the Shares
        of Grantee, at a price equal to the fair value of the Shares as of the
        date of termination, which right is not subject to the foregoing lapsing
        of rights. Termination of employment [OR SERVICE AS A
        DIRECTOR/CONSULTANT] "FOR CAUSE" means (i) as to employees or
        consultants, termination for cause as contemplated by Title 53 of the
        Delaware Revised Statutes and case law related thereto, or as defined in
        the Plan, this Agreement or in any employment [OR CONSULTING] agreement
        between the Company and Grantee, or (ii) as to directors, removal
        pursuant to the Delaware corporation law. In the event the Company
        elects to purchase the Shares, the stock certificates representing the
        same shall forthwith be returned to the Company for cancellation.

                        (c)     EXERCISE OF REPURCHASE RIGHT. Any Repurchase
        Right under Paragraphs 4(a) or 4(b) shall be exercised by giving notice
        of exercise as provided herein to Grantee or the estate of Grantee, as
        applicable. Such right shall be exercised, and the repurchase price
        thereunder shall be paid, by the Company within a ninety (90) day period
        beginning on the date of notice to the Company of the occurrence of such
        Repurchase Event (except in the case of termination or cessation of
        services as

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        director, where such option period shall begin upon the occurrence of
        the Repurchase Event). Such repurchase price shall be payable only in
        the form of cash (including a check drafted on immediately available
        funds) or cancellation of purchase money indebtedness of the Grantee for
        the Shares. If the Company can not purchase all such Shares because it
        is unable to meet the financial tests set forth in the Delaware
        corporation law, the Company shall have the right to purchase as many
        Shares as it is permitted to purchase under such sections. Any Shares
        not purchased by the Company hereunder shall no longer be subject to the
        provisions of this Section 5.

                        (d)     RIGHT OF FIRST REFUSAL. In the event Grantee
        desires to transfer any Shares during his or her lifetime, Grantee shall
        first offer to sell such Shares to the Company. Grantee shall deliver to
        the Company written notice of the intended sale, such notice to specify
        the number of Shares to be sold, the proposed purchase price and terms
        of payment, and grant the Company an option for a period of thirty days
        following receipt of such notice to purchase the offered Shares upon the
        same terms and conditions. To exercise such option, the Company shall
        give notice of that fact to Grantee within the thirty (30) day notice
        period and agree to pay the purchase price in the manner provided in the
        notice. If the Company does not purchase all of the Shares so offered
        during foregoing option period, Grantee shall be under no obligation to
        sell any of the offered Shares to the Company, but may dispose of such
        Shares in any lawful manner during a period of one hundred and eighty
        (180) days following the end of such notice period, except that Grantee
        shall not sell any such Shares to any other person at a lower price or
        upon more favorable terms than those offered to the Company.

                        (e)     ACCEPTANCE OF RESTRICTIONS. Acceptance of the
        Shares shall constitute the Grantee's agreement to such restrictions and
        the legending of his certificates with respect thereto. Notwithstanding
        such restrictions, however, so long as the Grantee is the holder of the
        Shares, or any portion thereof, he shall be entitled to receive all
        dividends declared on and to vote the Shares and to all other rights of
        a shareholder with respect thereto.

                        (f)     PERMITTED TRANSFERS. Notwithstanding any
        provisions in this Section 5 to the contrary, the Grantee may transfer
        Shares subject to this Agreement to his or her parents, spouse,
        children, or grandchildren, or a trust for the benefit of the Grantee or
        any such transferee(s); provided, that such permitted transferee(s)
        shall hold the Shares subject to all the provisions of this Agreement
        (all references to the Grantee herein shall in such cases refer mutatis
        mutandis to the permitted transferee, except in the case of clause (iv)
        of Section 5(a) wherein the permitted transfer shall be deemed to be
        rescinded); and provided further, that notwithstanding any other
        provisions in this Agreement, a permitted transferee may not, in turn,
        make permitted transfers without the written consent of the Grantee and
        the Company.

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        6.      REPRESENTATIONS AND WARRANTIES OF THE GRANTEE. This Agreement
and the issuance and grant of the Shares hereunder is made by the Company in
reliance upon the express representations and warranties of the Grantee, which
by acceptance hereof the Grantee confirms that:

                        (a)     The Shares granted to him pursuant to this
        Agreement are being acquired by him for his own account, for investment
        purposes, and not with a view to, or for sale in connection with, any
        distribution of the Shares. It is understood that the Shares have not
        been registered under the Act by reason of a specific exemption from the
        registration provisions of the Act which depends, among other things,
        upon the bona fide nature of his representations as expressed herein;

                        (b)     The Shares must be held by him indefinitely
        unless they are subsequently registered under the Act and any applicable
        state securities laws, or an exemption from such registration is
        available. The Company is under no obligation to register the Shares or
        to make available any such exemption; and

                        (c)     Grantee further represents that Grantee has had
        access to the financial statements or books and records of the Company,
        has had the opportunity to ask questions of the Company concerning its
        business, operations and financial condition and to obtain additional
        information reasonably necessary to verify the accuracy of such
        information,

                        (d)     Unless and until the Shares represented by this
        Grant are registered under the Securities Act, all certificates
        representing the Shares and any certificates subsequently issued in
        substitution therefor and any certificate for any securities issued
        pursuant to any stock split, share reclassification, stock dividend or
        other similar capital event shall bear legends in substantially the
        following form:

        THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER
        THE SECURITIES ACT OF 1933 (THE 'SECURITIES ACT') OR UNDER THE
        APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR
        ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
        DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR
        ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO
        EXEMPTIONS THEREFROM.

        THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO
        THAT CERTAIN STOCK AWARD AGREEMENT DATED ____________ BETWEEN THE
        COMPANY AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE SHARES
        WHICH ARE SUBJECT TO REPURCHASE BY THE COMPANY UNDER CERTAIN CONDITIONS.

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        and/or such other legend or legends as the Company and its counsel deem
        necessary or appropriate. Appropriate stop transfer instructions with
        respect to the Shares have been placed with the Company's transfer
        agent.

                        (e)     Grantee understands that he or she will
        recognize income, for Federal and state income tax purposes, in an
        amount equal to the amount by which the fair market value of the Shares,
        as of the date of grant, exceeds the price paid by Grantee, if any. The
        acceptance of the Shares by Grantee shall constitute an agreement by
        Grantee to report such income in accordance with then applicable law.
        Withholding for federal or state income and employment tax purposes will
        be made, if and as required by law, from Grantee's then current
        compensation, or, if such current compensation is insufficient to
        satisfy withholding tax liability, the Company may require Grantee to
        make a cash payment to cover such liability.

        7.      STAND-OFF AGREEMENT. Grantee agrees that, in connection with any
registration of the Company's securities under the Securities Act, and upon the
request of the Company or any underwriter managing an underwritten offering of
the Company's securities, Grantee shall not sell, short any sale of, loan, grant
an option for, or otherwise dispose of any of the Shares (other than Shares
included in the offering) without the prior written consent of the Company or
such managing underwriter, as applicable, for a period of at least one year
following the effective date of registration of such offering. This Section 8
shall survive any termination of this Agreement.

        8.      TERMINATION OF AGREEMENT. This Agreement shall terminate on the
occurrence of any one of the following events: (a) written agreement of all
parties to that effect; (b) a proposed dissolution or liquidation of the
Company, a merger or consolidation in which the Company is not the surviving
entity, or a sale of all or substantially all of the assets of the Company; (c)
the closing of any public offering of common stock of the Company pursuant to an
effective registration statement under the Securities Act; or (d) dissolution,
bankruptcy, or insolvency of the Company.

        9.      AGREEMENT SUBJECT TO PLAN; APPLICABLE LAW. This Grant is made
pursuant to the Plan and shall be interpreted to comply therewith. A copy of
such Plan is available to Grantee, at no charge, at the principal office of the
Company. Any provision of this Agreement inconsistent with the Plan shall be
considered void and replaced with the applicable provision of the Plan. This
Grant shall be governed by the laws of the State of Delaware and subject to the
exclusive jurisdiction of the courts therein.

        10.     MISCELLANEOUS.

                        (a)     NOTICES. Any notice required to be given
        pursuant to this Agreement or the Plan shall be in writing and shall be
        deemed to have been duly delivered upon receipt or, in the case of
        notices by the Company, five (5) days after deposit in the U.S. mail,
        postage prepaid, addressed to Grantee at the last address provided by
        Grantee for use in the Company's records.

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                        (b)     ENTIRE AGREEMENT. This instrument constitutes
        the sole agreement of the parties hereto with respect to the Shares. Any
        prior agreements, promises or representations concerning the Shares not
        included or reference herein shall be of no force or effect. This
        Agreement shall be binding on, and shall inure to the benefit of, the
        Parties hereto and their respective transferees, heirs, legal
        representatives, successors, and assigns.

                        (c)     ENFORCEMENT. This Agreement shall be construed
        in accordance with, and governed by, the laws of the State of Delaware
        and subject to the exclusive jurisdiction of the courts located in St.
        Johns County, State of Delaware. If Grantee attempts to transfer any of
        the Shares subject to this Agreement, or any interest in them in
        violation of the terms of this Agreement, the Company may apply to any
        court for an injunctive order prohibiting such proposed transaction, and
        the Company may institute and maintain proceedings against Grantee to
        compel specific performance of this Agreement without the necessity of
        proving the existence or extent of any damages to the Company. Any such
        attempted transaction shares in violation of this Agreement shall be
        null and void.

                        (d)     VALIDITY OF AGREEMENT. The provisions of this
        Agreement may be waived, altered, amended, or repealed, in whole or in
        part, only on the written consent of all parties hereto. It is intended
        that each Section of this Agreement shall be viewed as separate and
        divisible, and in the event that any Section shall be held to be
        invalid, the remaining Sections shall continue to be in full force and
        effect.

        IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                        COMPANY:        ABLE ENERGY, INC.,
                                        a Delaware corporation

                                        By:____________________________
                                        Name:__________________________
                                        Title:_________________________

                        GRANTEE:
                                        By:____________________________
                                                (SIGNATURE)
                                        Name:__________________________

             (ONE OF THE FOLLOWING, AS APPROPRIATE, SHALL BE SIGNED)

I certify  that as of the date          By his or her signature, the spouse of
hereof I am unmarried                   Grantee hereby  agrees to be bound by
                                        the  provisions of the foregoing STOCK
                                        AWARD AGREEMENT

------------------------------          ------------------------------
Grantee                                 Spouse of Grantee<PAGE>

                                                                    EXHIBIT 10.6

                                ABLE ENERGY, INC.
                   FORM OF RESTRICTED STOCK PURCHASE AGREEMENT

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        THIS RESTRICTED STOCK PURCHASE AGREEMENT ("AGREEMENT") is made and
entered into as of the date set forth below, by and between ABLE ENERGY, INC., a
Delaware corporation (the "COMPANY"), and the employee, director or consultant
of the Company named in Section 1(b). ("GRANTEE"):

        In consideration of the covenants herein set forth, the parties hereto
agree as follows:

        1.      STOCK PURCHASE INFORMATION.

                        (a)     Date of Agreement:   __________________
                        (b)     Grantee:             __________________
                        (c)     Number of Shares:    __________________
                        (d)     Purchase Price:      __________________

        2.      ACKNOWLEDGEMENTS.

                        (a)     Grantee is a [EMPLOYEE/DIRECTOR/CONSULTANT] of
        the Company.

                        (b)     The Company has adopted a 2005 Incentive Stock
        Plan (the "PLAN") under which the Company's common stock ("Stock") may
        be offered to officers, employees, directors and consultants pursuant to
        an exemption from registration under the Securities Act of 1933, as
        amended (the "SECURITIES ACT") provided by Section 4(2) thereunder.

                        (c)     The Grantee desires to purchase shares of the
        Company's common stock on the terms and conditions set forth herein.

        3.      PURCHASE OF SHARES. The Company hereby agrees to sell and
Grantee hereby agrees to purchase, upon and subject to the terms and conditions
herein stated, the number of shares of Stock set forth in Section 1(c) (the
"SHARES"), at the price per Share set forth in Section 1(d) (the "PRICE"). For
the purpose of this Agreement, the terms "SHARE" or "SHARES" shall include the
original Shares plus any shares derived therefrom, regardless of the fact that
the number, attributes or par value of such Shares may have been altered by
reason of any recapitalization, subdivision, consolidation, stock dividend or
amendment of the corporate charter of the Company. The number of Shares covered
by this Agreement shall be proportionately adjusted for any increase or decrease
in the number of issued shares resulting from a recapitalization, subdivision or
consolidation of shares or the payment of a stock dividend, or any other
increase or decrease in the number of such shares effected without receipt of
consideration by the Company.

        4.      INVESTMENT INTENT. Grantee represents and agrees that Grantee is
accepting the Shares for the purpose of investment and not with a view to, or
for resale in connection with, any distribution thereof; and that, if requested,
Grantee shall furnish to the Company a written statement to such effect,
satisfactory to the Company in form and substance. If the Shares are registered
under the

<PAGE>

Securities Act, Grantee shall be relieved of the foregoing investment
representation and agreement and shall not be required to furnish the Company
with the foregoing written statement.

        5.      RESTRICTION UPON TRANSFER. The Shares may not be sold,
transferred or otherwise disposed of and shall not be pledged or otherwise
hypothecated by the Grantee except as hereinafter provided.

                        (a)     Repurchase Right on Termination Other Than for
        Cause. For the purposes of this Section, a "REPURCHASE EVENT" shall mean
        an occurrence of one of (i) termination of Grantee's employment [OR
        SERVICE AS A DIRECTOR/CONSULTANT] by the Company, voluntary or
        involuntary and with or without cause; (ii) retirement or death of
        Grantee; (iii) bankruptcy of Grantee, which shall be deemed to have
        occurred as of the date on which a voluntary or involuntary petition in
        bankruptcy is filed with a court of competent jurisdiction; (iv)
        dissolution of the marriage of Grantee, to the extent that any of the
        Shares are allocated as the sole and separate property of Grantee's
        spouse pursuant thereto (in which case, this Section shall only apply to
        the Shares so affected); or (v) any attempted transfer by the Grantee of
        Shares, or any interest therein, in violation of this Agreement. Upon
        the occurrence of a Repurchase Event, the Company shall have the right
        (but not an obligation) to repurchase all or any portion of the Shares
        of Grantee at a price equal to the fair value of the Shares as of the
        date of the Repurchase Event.

                        (b)     Repurchase Right on Termination for Cause. In
        the event Grantee's employment [OR SERVICE AS A director/consultant] is
        terminated by the Company "FOR CAUSE" (as defined below), then the
        Company shall have the right (but not an obligation) to repurchase
        Shares of Grantee at a price equal to the Price. Such right of the
        Company to repurchase Shares shall apply to 100% of the Shares for one
        (1) year from the date of this Agreement; and shall thereafter lapse at
        the rate of twenty percent (20%) of the Shares on each anniversary of
        the date of this Agreement. In addition, the Company shall have the
        right, in the sole discretion of the Board and without obligation, to
        repurchase upon termination for cause all or any portion of the Shares
        of Grantee, at a price equal to the fair value of the Shares as of the
        date of termination, which right is not subject to the foregoing lapsing
        of rights. Termination of employment [OR SERVICE AS A
        DIRECTOR/CONSULTANT] "FOR CAUSE" means (i) as to employees and
        consultants, termination for cause as contemplated by Title 53 of the
        Delaware Revised Statutes and case law related thereto, or as defined in
        the Plan, this Agreement or in any employment [OR CONSULTING] agreement
        between the Company and Grantee, or (ii) as to directors, removal
        pursuant to the Delaware corporation law. In the event the Company
        elects to repurchase the Shares, the stock certificates representing the
        same shall forthwith be returned to the Company for cancellation.

                        (c)     EXERCISE OF REPURCHASE RIGHT. Any Repurchase
        Right under Paragraphs 4(a) or 4(b) shall be exercised by giving notice
        of exercise as provided herein to Grantee or the estate of Grantee, as
        applicable. Such right shall be exercised, and the repurchase price
        thereunder shall be paid, by the Company within a ninety (90) day period
        beginning on the date of notice to the Company of the occurrence of such
        Repurchase Event (except in the case of termination of employment or
        retirement, where such option period shall begin upon the occurrence of
        the Repurchase Event). Such repurchase price shall be payable only in
        the form of cash (including a check drafted on immediately available
        funds) or cancellation of

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<PAGE>

        purchase money indebtedness of the Grantee for the Shares. If the
        Company can not purchase all such Shares because it is unable to meet
        the financial tests set forth in the Delaware corporation law, the
        Company shall have the right to purchase as many Shares as it is
        permitted to purchase under such sections. Any Shares not purchased by
        the Company hereunder shall no longer be subject to the provisions of
        this Section 5.

                        (d)     RIGHT OF FIRST REFUSAL. In the event Grantee
        desires to transfer any Shares during his or her lifetime, Grantee shall
        first offer to sell such Shares to the Company. Grantee shall deliver to
        the Company written notice of the intended sale, such notice to specify
        the number of Shares to be sold, the proposed purchase price and terms
        of payment, and grant the Company an option for a period of thirty days
        following receipt of such notice to purchase the offered Shares upon the
        same terms and conditions. To exercise such option, the Company shall
        give notice of that fact to Grantee within the thirty (30) day notice
        period and agree to pay the purchase price in the manner provided in the
        notice. If the Company does not purchase all of the Shares so offered
        during foregoing option period, Grantee shall be under no obligation to
        sell any of the offered Shares to the Company, but may dispose of such
        Shares in any lawful manner during a period of one hundred and eighty
        (180) days following the end of such notice period, except that Grantee
        shall not sell any such Shares to any other person at a lower price or
        upon more favorable terms than those offered to the Company.

                        (e)     ACCEPTANCE OF RESTRICTIONS. Acceptance of the
        Shares shall constitute the Grantee's agreement to such restrictions and
        the legending of his certificates with respect thereto. Notwithstanding
        such restrictions, however, so long as the Grantee is the holder of the
        Shares, or any portion thereof, he shall be entitled to receive all
        dividends declared on and to vote the Shares and to all other rights of
        a shareholder with respect thereto.

                        (f)     PERMITTED TRANSFERS. Notwithstanding any
        provisions in this Section 5 to the contrary, the Grantee may transfer
        Shares subject to this Agreement to his or her parents, spouse,
        children, or grandchildren, or a trust for the benefit of the Grantee or
        any such transferee(s); provided, that such permitted transferee(s)
        shall hold the Shares subject to all the provisions of this Agreement
        (all references to the Grantee herein shall in such cases refer mutatis
        mutandis to the permitted transferee, except in the case of clause (iv)
        of Section 5(a) wherein the permitted transfer shall be deemed to be
        rescinded); and provided further, that notwithstanding any other
        provisions in this Agreement, a permitted transferee may not, in turn,
        make permitted transfers without the written consent of the Grantee and
        the Company.

                        (g)     RELEASE OF RESTRICTIONS ON SHARES. All rights
        and restrictions under this Section 5 shall terminate five (5) years
        following the date upon which the Company receives the full Price as set
        forth in Section 3, or when the Company's securities are publicly
        traded, whichever occurs earlier.

        5.      REPRESENTATIONS AND WARRANTIES OF THE GRANTEE. This Agreement
and the issuance and grant of the Shares hereunder is made by the Company in
reliance upon the express representations and warranties of the Grantee, which
by acceptance hereof the Grantee confirms that:

                                     - 3 -
<PAGE>

                        (a)     The Shares granted to him pursuant to this
        Agreement are being acquired by him for his own account, for investment
        purposes, and not with a view to, or for sale in connection with, any
        distribution of the Shares. It is understood that the Shares have not
        been registered under the Act by reason of a specific exemption from the
        registration provisions of the Act which depends, among other things,
        upon the bona fide nature of his representations as expressed herein;

                        (b)     The Shares must be held by him indefinitely
        unless they are subsequently registered under the Act and any applicable
        state securities laws, or an exemption from such registration is
        available. The Company is under no obligation to register the Shares or
        to make available any such exemption; and

                        (c)     Grantee further represents that Grantee has had
        access to the financial statements or books and records of the Company,
        has had the opportunity to ask questions of the Company concerning its
        business, operations and financial condition and to obtain additional
        information reasonably necessary to verify the accuracy of such
        information;

                        (d)     Unless and until the Shares represented by this
        Grant are registered under the Securities Act, all certificates
        representing the Shares and any certificates subsequently issued in
        substitution therefor and any certificate for any securities issued
        pursuant to any stock split, share reclassification, stock dividend or
        other similar capital event shall bear legends in substantially the
        following form:

        THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER
        THE SECURITIES ACT OF 1933 (THE 'SECURITIES ACT') OR UNDER THE
        APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR
        ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
        DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR
        ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO
        EXEMPTIONS THEREFROM.

        THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO
        THAT CERTAIN RESTRICTED STOCK PURCHASE AGREEMENT DATED ____________
        BETWEEN THE COMPANY AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE
        SHARES WHICH ARE SUBJECT TO REPURCHASE BY THE COMPANY UNDER CERTAIN
        CONDITIONS.

        and/or such other legend or legends as the Company and its counsel deem
        necessary or appropriate. Appropriate stop transfer instructions with
        respect to the Shares have been placed with the Company's transfer
        agent.

                        (e)     Grantee understands that he or she will
        recognize income, for Federal and state income tax purposes, in an
        amount equal to the amount by which the fair market value of the Shares,
        as of the date of Grant, exceeds the price paid by Grantee. The
        acceptance of the

                                     - 4 -
<PAGE>

        Shares by Grantee shall constitute an agreement by Grantee to report
        such income in accordance with then applicable law. Withholding for
        federal or state income and employment tax purposes will be made, if and
        as required by law, from Grantee's then current compensation, or, if
        such current compensation is insufficient to satisfy withholding tax
        liability, the Company may require Grantee to make a cash payment to
        cover such liability.

        7.      STAND-OFF AGREEMENT. Grantee agrees that, in connection with any
registration of the Company's securities under the Securities Act, and upon the
request of the Company or any underwriter managing an underwritten offering of
the Company's securities, Grantee shall not sell, short any sale of, loan, grant
an option for, or otherwise dispose of any of the Shares (other than Shares
included in the offering) without the prior written consent of the Company or
such managing underwriter, as applicable, for a period of at least one year
following the effective date of registration of such offering. This Section 8
shall survive any termination of this Agreement.

        8.      TERMINATION OF AGREEMENT. This Agreement shall terminate on the
occurrence of any one of the following events: (a) written agreement of all
parties to that effect; (b) a proposed dissolution or liquidation of the
Company, a merger or consolidation in which the Company is not the surviving
entity, or a sale of all or substantially all of the assets of the Company; (c)
the closing of any public offering of common stock of the Company pursuant to an
effective registration statement under the Act; or (d) dissolution, bankruptcy,
or insolvency of the Company.

        9.      AGREEMENT SUBJECT TO PLAN; APPLICABLE LAW. This Grant is made
pursuant to the Plan and shall be interpreted to comply therewith. A copy of
such Plan is available to Grantee, at no charge, at the principal office of the
Company. Any provision of this Agreement inconsistent with the Plan shall be
considered void and replaced with the applicable provision of the Plan. This
Grant shall be governed by the laws of the State of Delaware and subject to the
exclusive jurisdiction of the courts therein.

        10.     MISCELLANEOUS.

                        (a)     NOTICES. Any notice required to be given
        pursuant to this Agreement or the Plan shall be in writing and shall be
        deemed to have been duly delivered upon receipt or, in the case of
        notices by the Company, five (5) days after deposit in the U.S. mail,
        postage prepaid, addressed to Grantee at the last address provided by
        Grantee for use in the Company's records.

                        (b)     ENTIRE AGREEMENT. This instrument constitutes
        the sole agreement of the parties hereto with respect to the Shares. Any
        prior agreements, promises or representations concerning the Shares not
        included or reference herein shall be of no force or effect. This
        Agreement shall be binding on, and shall inure to the benefit of, the
        Parties hereto and their respective transferees, heirs, legal
        representatives, successors, and assigns.

                        (c)     ENFORCEMENT. This Agreement shall be construed
        in accordance with, and governed by, the laws of the State of Delaware
        and subject to the exclusive jurisdiction of the courts located in St.
        Johns County, State of Delaware. If Grantee attempts to transfer any of
        the Shares subject to this Agreement, or any interest in them in
        violation of the terms of

                                     - 5 -
<PAGE>

        this Agreement, the Company may apply to any court for an injunctive
        order prohibiting such proposed transaction, and the Company may
        institute and maintain proceedings against Grantee to compel specific
        performance of this Agreement without the necessity of proving the
        existence or extent of any damages to the Company. Any such attempted
        transaction shares in violation of this Agreement shall be null and
        void.

                        (d)     VALIDITY OF AGREEMENT. The provisions of this
        Agreement may be waived, altered, amended, or repealed, in whole or in
        part, only on the written consent of all parties hereto. It is intended
        that each Section of this Agreement shall be viewed as separate and
        divisible, and in the event that any Section shall be held to be
        invalid, the remaining Sections shall continue to be in full force and
        effect.

        IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                                COMPANY:        ABLE ENERGY, INC.,
                                                a Delaware corporation

                                                By:_____________________________
                                                Name:___________________________
                                                Title:__________________________

                                GRANTEE:
                                                By:_____________________________
                                                        (SIGNATURE)
                                                Name:___________________________

                                     - 6 -

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