Document:

Exhibit 10.95

ERSUAA No. __________________

                 OFFICER'S RESTRICTED STOCK UNIT AWARD AGREEMENT

Name: _________________

Number of Restricted Stock Units: _______________

Grant Date: _______________________

      Pursuant to, among other things, Sections 6(e) and 6(h) of US Energy
Systems, Inc.'s 2000 Executive Incentive Compensation Plan (the "2000 Plan"),
you are hereby granted, subject to your execution of this agreement and the
execution of this agreement by US Energy Systems, Inc. ("US Energy"), as of the
Grant Date, the number of restricted stock units ("Restricted Stock Units") set
forth above. Upon the vesting of the Restricted Stock Units as described below
and the expiration of the deferral period provided for herein, each Restricted
Stock Unit will be automatically converted into one share of common stock of US
Energy, par value $.01 per share (the "Common Stock"). Capitalized terms not
otherwise defined herein shall have the meanings ascribed to such term by the
2000 Plan.

      1. Vesting of Award. Subject to Section 2, the Restricted Stock Units
shall vest and become non-forfeitable in cumulative annual increments of 25%
commencing on the first anniversary of the Grant Date. (The date on which any
Restricted Stock Unit vests being the "Vesting Date" for such Restricted Stock
Unit and the period beginning on the Grant Date hereof and ending on the day
prior to the Vesting Date for a Restricted Stock Unit is herein referred to as
the "Restriction Period" with respect to such Restricted Stock Unit). In the
event that a fractional number of Restricted Stock Units would vest on any
Vesting Date, the number of units so vesting shall be rounded up to the next
whole number.

      2. Termination of Relationship. (a) If during the Restriction Period your
employment with US Energy and all Subsidiaries thereof terminates for Cause (as
defined) or if you voluntarily terminate your employment ("Voluntary
Termination"), any Restricted Stock Units that have not vested as of the date of
termination shall be forfeited. Voluntary Termination does not include your
termination of your employment due to, the assignment to you after the Grant
Date of any duties inconsistent in any material respect of your then position
(including status, offices, titles and reporting relationships, authority,
duties or responsibilities), or any other action by US Energy after the Grant
Date which when taken as a whole results in a significant diminution in your
position, authority, duties or responsibilities.

      (b) If during the Restriction Period your employment with US Energy and
all Subsidiaries thereof terminates for any other reason other than Cause or
Voluntary Termination, the Restricted Stock Units will become non-forfeitable
and vest immediately, the Restriction Period will end and the Underlying Shares
(as defined) will be delivered to you as specified in Section 3 hereof.

<PAGE>

      (c) Upon the occurrence of a Change in Control during or after the
expiration of the Restriction Period, the provisions of Section 9 (a) of the
2000 Plan shall apply. In furtherance of and not by way of limitation of the
foregoing, the restrictions, deferral of settlement, and forfeiture conditions
applicable to the Restricted Stock Units shall lapse and such units shall be
deemed to be fully vested as of the time of the Change in Control, except to the
extent you waive same and subject to the applicable restrictions set forth in
Section 10(a) of the 2000 Plan.

      (d) The term "Cause" means your (i) having been convicted of a crime which
constitutes a felony under applicable law or having entered a plea of guilty or
nolo contendere with respect thereto, or (ii) engaging in illegal or fraudulent
conduct with respect to US Energy.

      3. Delivery of Shares Underlying Restricted Stock Units. (a) After the
expiration of the deferral period elected pursuant to Section 3(b), US Energy
will deliver to you or your legal representative, a certificate representing the
shares of Common Stock underlying your Restricted Stock Units (the "Underlying
Shares") that have vested pursuant to this agreement.

      (b) By signing this agreement, you hereby irrevocably elect to defer
receipt of the Underlying Shares and all other benefits incident thereto to the
extent same have vested as provided above, until the expiration of the deferral
period specified on the signature page hereto or as otherwise provided herein.

      (c) Notwithstanding your deferral election, in the event of the earlier to
occur of your death, your Disability, a Change in Control, the termination of
your employment with US Energy and all Subsidiaries or the day immediately
preceding the tenth anniversary of the Grant Date, the deferral effected herein
shall immediately terminate and you shall promptly receive the Underlying Shares
to which you are entitled pursuant to this agreement. You acknowledge that until
the deferral period has terminated, you will not, except as otherwise provided
in Section 3(d) hereof, be entitled to any rights as a stockholder with respect
to the Restricted Stock Units, including without limitation, the right to vote.

      (d) Contemporaneously with the grant of Restricted Stock Units to you
pursuant to this agreement, US Energy hereby grants you, pursuant to, among
other things, Section 6(g) of the 2000 Plan, Dividend Equivalent Rights (as
defined). The term "Dividend Equivalent Rights" shall mean your right to
receive, subject to your execution of an agreement in form reasonably acceptable
to US Energy, the number of Restricted Stock Units equal to the quotient
obtained by dividing the aggregate cash dividends that would have been payable
with respect to your Underlying Shares (as if such shares had been issued and
had not been deferred) as of the record date for the payment of such dividends
by the Fair Market Value of a share of Common Stock on such date. The terms and
conditions (including the deferral provided for by Section 3 hereof) of the
Restricted Stock Units granted pursuant to the Dividend Equivalent Rights shall
be the same as otherwise provided herein and shall vest as provided in Section 1
and 2 hereof and as if the Grant Date for determining the Restriction Period
with respect to such units was the Grant Date set forth above. The Restricted
Stock Units, if any, granted pursuant to the Dividend Equivalent Rights shall be
granted only to the extent the applicable dividend payment is actually paid.

                                       2
<PAGE>

      4. Transferability. You may not transfer, pledge, assign, sell or
otherwise alienate your Restricted Stock Units or the Underlying Shares, until
the termination or expiration of the Restriction Period and deferral period with
respect thereto.

      5. Taxes. US Energy shall deduct or cause to be deducted from, or collect
or cause to be collected with respect to, your Restricted Stock Units (including
the Underlying Shares) any federal, state, or local taxes required by law to be
withheld or paid with respect to your Restricted Stock Units (including the
Underlying Shares), and you or your legal representative or beneficiaries shall
be required to pay any such amounts. US Energy shall have the right to take such
action as may be necessary, in its reasonable judgment, to satisfy such
obligations.

      6. Governing Law. The validity, construction and effect of this Agreement
shall be determined in accordance with the laws of the State of Delaware without
giving effect to choice of law principles.

      7. Subject To 2000 Plan. This Agreement and the grant of Restricted Stock
Units and Dividend Equivalent Rights are subject to all of the terms and
conditions of the 2000 Plan.

      8. Section 16. Notwithstanding anything to the contrary herein, in the
event that you would be subject to liability for short swing profits pursuant to
Section 16 of the Exchange Act resulting from the distribution to you of the
Underlying Shares, then, except as otherwise provided by the Plan, the
distribution of the Underlying Shares will be deferred and/or limited to the
extent necessary to eliminate such liability.

                                       3
<PAGE>

      Please indicate your acceptance of the foregoing by signing at the place
provided and returning the original of this Agreement.

                                            Very truly yours,

                                            US ENERGY SYSTEMS, INC.

                                        By: ____________________________________

ACCEPTANCE OF RESTRICTED STOCK UNITS AND DEFERRAL ELECTION

I hereby accept these Restricted Stock Units and Dividend Equivalent Rights and
elect to defer my receipt of the Underlying Shares, subject to acceleration as
provided in Section 2(c) herein, as follows (insert your initials in the
appropriate box and then sign your name below):

|_| On the vesting of all* of my Restricted Stock Units subject to this
agreement.

|_| On the first anniversary of the vesting of all* of my Restricted Stock Units
subject to this agreement.

|_| On the second anniversary of the vesting all* of my Restricted Stock Units
subject to this agreement.

|_| On the _____________ anniversary of vesting of all* of my Restricted Stock
Units subject to this agreement (but in no event, on or after the tenth
anniversary of the Grant Date).

*The reference to "all" my Restricted Stock Units shall mean all such units
subject to this agreement, provided, however, if my employment with US Energy
and Subsidiaries terminates for Cause or Voluntary Termination, the term "all"
shall refer to my Restricted Stock Units that vested as of the date of
termination of my employment.

ACCEPTED AND AGREED:

____________________________

                                       4Exhibit 10.96

                               PURCHASE AGREEMENT

      THIS PURCHASE AGREEMENT (this "Agreement") is made as of the 30th day of
September, 2004 among AJG FINANCIAL SERVICES, INC., a Delaware corporation
("AJG"), U.S. ENERGY BIOGAS CORP., a Delaware corporation (the "Company").

                                    RECITALS

      WHEREAS, the Company has issued to AJG a Second Amended and Restated
Subordinate Note dated April 8, 2004 in the original principal amount $5,728,883
(the "Subordinated Note");

      WHEREAS, the Company desires to acquire from AJG and AJG desires to
transfer to the Company the Subordinated Note for a cash payment of $3,000,000;

      NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:

1. Purchase and Sale of Subordinated Note; Closing.

      1.1. Purchase and Sale of Subordinated Note. On the terms and subject to
the conditions of this Agreement, the Company hereby agrees to purchase from
AJG, and AJG hereby agrees to sell and assign to the Company, the Subordinated
Note and all accrued and unpaid interest thereon for the purchase price set
forth in Section 1.2.

      1.2. Purchase Price. The aggregate purchase price for the Subordinated
Note will be equal to $3,000,000 (the "Purchase Price").

      1.3. Manner of Payment of Purchase Price. The Purchase Price will be paid
or satisfied at the Closing (as defined below), by means of a wire transfer of
immediately available funds to:

                  Harris Trust and Savings Bank
                  Chicago, Illinois
                  ABA 071000288
                  Account Name: AJG Financial Services, Inc.
                  Account Number: 160-458-6

      1.4. Time and Place of Closing. The transactions contemplated by this
Agreement will be consummated (the "Closing") at the offices of AJG on September
30, 2004 or as promptly as practicable after satisfaction or waiver of each of
the conditions set forth in Section 4. The date on which the Closing occurs is
referred to in this Agreement as the "Closing Date".

      1.5. Further Assurances. AJG from time to time after the Closing at the
request of the Company and without further consideration shall execute and
deliver such further instruments and

<PAGE>

take such other further action as the Company may reasonably require to make
effective each provision of this Agreement.

2. Representations, Warranties and Covenants of AJG. AJG hereby represents,
warrants and covenants to the Company that:

      2.1. Corporate Existence; Compliance with Law. AJG (i) is a corporation
duly organized, validly existing and in good standing under the laws of the
State of Delaware; (ii) is duly qualified as a foreign corporation and in good
standing under the laws of each jurisdiction where the failure to be so
qualified would have a material and adverse effect upon the business of AJG;
(iii) has the requisite corporate power and authority and the legal right to
own, pledge, mortgage or otherwise encumber and operate its properties, and to
conduct its business as currently conducted; and (iv) is in compliance with its
Certificate of Incorporation and By-laws.

      2.2. Corporate Power; Authorization; Enforceable Obligations. The
execution, delivery and performance by AJG of this Agreement and the Assignment
Agreement attached hereto as Exhibit A (the "Assignment Agreement"), (i) are
within its corporate power; (ii) have been duly authorized by all necessary or
proper corporate action; (iii) are not in contravention of any provision of its
Certificate of Incorporation or By-laws; (iv) will not violate any law or
regulation, or any order or decree of any court or governmental instrumentality;
and (v) do not require any consent, approval, authorization or permission of, or
filing with or notification to, any governmental or regulatory authority,
domestic or foreign, or any other person, except as has been obtained and is in
full force and effect or will have been obtained at or prior to the Closing.
This Agreement constitutes a legal, valid and binding obligation of AJG,
enforceable against it in accordance with its terms subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other similar
laws of general application affecting the rights and remedies of creditors and
by general principles of equity.

      2.3. Title to the Subordinated Note. On the date hereof and as of the
Closing Date, AJG has good title to the Subordinated Note, free and clear of all
liens, security interests, options, claims and encumbrances of each and every
kind and nature and has not sold or pledged the Subordinated Note or any
interest therein to any other party.

      2.4. Securities Laws. In reliance on the investment representations
contained in Section 3, the offer, sale and delivery of the Subordinated Note is
exempt from the registration requirements of the Securities Act of 1933, as
amended (the "Act"), and any state securities laws.

3. Representations and Warranties of the Company. The Company hereby represents,
warrants and covenants to AJG that:

      3.1 Corporate Representations.

            (a) The Company (i) is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware; (ii) is
duly qualified as a foreign corporation and in good standing under the laws of
each jurisdiction where the failure to be so

                                      -2-
<PAGE>

qualified would have a material and adverse effect upon the business of the
Company; (iii) has the requisite corporate power and authority and the legal
right to own, pledge, mortgage or otherwise encumber and operate its properties,
and to conduct its business as currently conducted; and (iv) is in compliance
with its Certificate of Incorporation and By-laws.

            (b) The execution, delivery and performance by the Company of this
Agreement and the Assignment Agreement, (i) are within its corporate power; (ii)
have been duly authorized by all necessary or proper corporate action; (iii) are
not in contravention of any provision of its Certificate of Incorporation or
By-laws; (iv) will not violate any law or regulation, or any order or decree of
any court or governmental instrumentality; and (v) do not require any consent,
approval, authorization or permission of, or filing with or notification to, any
governmental or regulatory authority, domestic or foreign, or any other person,
except as has been obtained and is in full force and effect or will have been
obtained at or prior to the Closing. This Agreement constitutes a legal, valid
and binding obligation of the Company, enforceable against it in accordance with
its terms subject to bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws of general application
affecting the rights and remedies of creditors and by general principles of
equity.

      3.2 Securities Representations.

            (a) The Company has such knowledge and experience in business,
finance and securities generally, and in investments (based on actual
participation) in particular, is capable of evaluating (and has evaluated) the
merits and risks of an investment in the Subordinated Note and of making an
informed investment decision, and has been given adequate opportunity to obtain
information and documents relating to the purchase of the Subordinated Note and
to ask questions and receive answers about AJG and all questions asked have been
satisfactorily answered.

            (b) This Agreement is made with the Company in reliance upon the
Company's representation to AJG, which by the Company's execution of this
Agreement the Company hereby confirms, that the Subordinated Note will be
acquired for investment for the Company's own account, not as a nominee or
agent, and not with a view to the resale or distribution of any part thereof,
and that the Company has no present intention of selling, granting any
participation in, or otherwise distributing the same. By executing this
Agreement, the Company further represents that the Company does not have any
contract, undertaking, agreement or arrangement with any person to sell,
transfer or grant participations to such person or to any third person, with
respect to the Subordinated Note.

4. Conditions Precedent.

      4.1. Documents to be Received by the Company. The obligation of the
Company to complete the Closing shall be subject to receipt (or waiver) by the
Company of each of the following, each in form and substance satisfactory to the
Company:

      (a) Executed copy of the Assignment Agreement;

                                      -3-
<PAGE>

      (b) Funding approval by each of the shareholders of the Company; and

      (c) The original Subordinated Note.

      4.2. Documents to be Delivered by the Company. The obligation of AJG to
complete the Closing shall be subject to receipt (or waiver) by AJG of each of
the following, each in form and substance satisfactory to AJG:

      (a) Executed copy of the Assignment Agreement;

      (b) The Purchase Price in the manner set forth in Section 1.2.

5. Miscellaneous.

      5.1. Cooperation. AJG and the Company shall cooperate with each other and
use all reasonable efforts to take all actions necessary or appropriate to
satisfy the conditions to Closing set forth in Section 4.1 and 4.2.

      5.2. Successors and Assigns. Except as otherwise provided herein, the
terms and conditions of this Agreement shall inure to the benefit of and be
binding upon the respective successors and assigns of the parties.

      5.3. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware without regard to principles
of conflicts of law. The parties consent and submit to the jurisdiction of the
federal and state courts located within the city of Chicago and State of
Illinois, and further agree that any such action or proceeding brought by either
party to enforce any right, assert any claim, or obtain any relief whatsoever in
connection with this Agreement shall be brought by such party exclusively in the
federal or state courts located within Chicago, Illinois.

      5.4. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

      5.5. Titles and Subtitles. The titles and subtitles used in this Agreement
are used for convenience only and are not to be considered in construing or
interpreting this Agreement.

      5.6. Notices. Unless otherwise provided, any notice required or permitted
under this Agreement shall be given in writing and shall be deemed effectively
given upon personal delivery to the party to be notified, or by telecopy with a
confirmation of receipt, or upon deposit with a reputable overnight courier or
with the United States Post Office, by registered or certified mail, postage
prepaid and addressed to the party to be notified at the address indicated for
such party on the signature page hereof, or at such other address as such party
may designate by ten (10) days advance written notice to the other parties.

                                      -4-
<PAGE>

      5.7. Expenses Each party shall bear its own expenses in connection with
the transactions contemplated by this Agreement.

      5.8. Amendments and Waivers. Any term of this Agreement may be amended and
the observance of any term of this Agreement may be waived only with the written
consent of AJG and the Company. Any amendment or waiver effected in accordance
with this Section shall be binding upon each holder of any securities purchased
under this Agreement at the time outstanding (including securities into which
such securities are convertible), each future holder of all such securities, and
AJG.

      5.9. Severability. If one or more provisions of this Agreement are held to
be unenforceable under applicable law, such provision shall be excluded from
this Agreement and the balance of the Agreement shall be interpreted as if such
provision was so excluded and shall be enforceable in accordance with its terms.

      5.10. Waiver of Trial by Jury. AJG AND THE COMPANY HEREBY WAIVE TRIAL BY
JURY AND ANY RIGHT TO SEEK PUNITIVE OR CONSEQUENTIAL DAMAGES IN ANY ACTION,
SUIT, PROCEEDING OR COUNTERCLAIM OF ANY KIND DIRECTLY OR INDIRECTLY ARISING OUT
OF OR RELATED TO THIS AGREEMENT AND/OR ANY ACT OR OMISSION WHICH A PARTY ASSERTS
RESULTING IN ANY LIABILITY TO AJG, THE COMPANY OR THEIR RESPECTIVE OFFICERS,
DIRECTORS, STOCKHOLDERS, PARTNERS, EMPLOYEES OR AGENTS, TO THE FULL EXTENT
PERMITTED BY LAW.

      5.11. Entire Agreement. This Agreement, the Assignment Agreement and the
other documents delivered pursuant hereto and thereto constitute the full and
entire understanding and agreement between the parties with regard to the
subjects hereof and thereof.

                                      -5-
<PAGE>

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

Address:  Gallagher Center              AJG FINANCIAL SERVICES, INC.
          Two Pierce Place
          Itasca, IL 60143
          Attn: Kerry Abbott, Esq.
          Assistant General Counsel
          Fax: 630-285-4272

                                        By: ____________________________________
                                            Name:
                                            Title:

Address:
          40 Tower Lane                 U.S. ENERGY BIOGAS CORP.
          Avon, CT 06001
          Attn: President
          Fax: 860-677-6054

                                        By: ____________________________________
                                            Name:
                                            Title:

                                      -6-
<PAGE>

                                    EXHIBIT A

                              ASSIGNMENT AGREEMENT

      This ASSIGNMENT AGREEMENT ("Assignment") is made this 30th day of
September, 2004 by and among AJG FINANCIAL SERVICES, INC., a Delaware
corporation ("AJG"), and U.S. ENERGY BIOGAS CORP., a Delaware corporation (the
"Company").

      WHEREAS, the Company issued a Second Amended and Restated Subordinated
Note dated April 8, 2004 (the "Subordinated Note") to AJG; and

      WHEREAS, pursuant to a Purchase Agreement dated September 30, 2004 between
AJG and the Company (the "Purchase Agreement"), AJG desires to sell and assign
the Subordinated Note to the Company and the Company desires to purchase the
Subordinated Note.

      NOW THERFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows;

      1. Any capitalized terms used herein and not otherwise defined, shall have
the meaning ascribed thereto in the Purchase Agreement.

      2. AJG hereby sells, assigns and transfers to the Company, its successors
and assigns, all right, title and interest of AJG in, to and under the
Subordinated Note.

      3. The Company accepts assignment of the Subordinated Note and agrees to
pay or has paid the Purchase Price to AJG.

      4. The parties agree to duly execute and deliver such further instruments
or documents or take such further action as the other may request in writing in
order to obtain the full benefit of this Assignment and the rights granted
herein.

      5. This Assignment shall be governed by and construed in accordance with
the laws of the state of Delaware.

      6. This assignment shall be binding upon and inure to the benefit of each
party hereto, its successors and permitted assigns. This assignment is not
intended to create any third-party beneficiary rights in any person not a party
to this Assignment.

                                      -7-
<PAGE>

      IN WITNESS WHEREOF, the parties have executed this Assignment as of the
day and year first written above.

                                        AJG FINANCIAL SERVICES, INC.

                                        By:____________________________

                                        Title:_________________________

                                        U.S. ENERGY BIOGAS CORP.

                                        By:____________________________

                                        Title:_________________________

                                      -8-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}]]