NON-EMPLOYEE DIRECTOR STOCK OPTION AGREEMENT
THIS NON-EMPLOYEE DIRECTOR STOCK OPTION AGREEMENT (the “ Agreement ”) is
made and entered into effective the day of , 200 , by and between PETROHAWK
ENERGY CORPORATION, a Delaware corporation (the “ Company ”), and (“
Non- Employee Director ”).
WHEREAS, to carry out the purposes of the Company’s Amended and Restated 2004 Non-employee
Director Incentive Plan (the “ Plan ”), the Company desires to afford Non-employee Director the opportunity to
purchase shares of the common stock of the Company (“ Stock ”).
NOW THEREFORE, in consideration of the mutual agreements and other matters set forth herein and
in the Plan, the Company and Non-employee Director hereby agree as follows:
1. Grant of Option . The Company hereby grants to Non-employee Director the right and option
(“ Option ”) to purchase all or any part of an aggregate of shares of Stock, on the terms and conditions
set forth herein and in the Plan, which Plan is incorporated herein by reference.
2. Purchase Price . The purchase price of Stock purchased pursuant to the exercise of this
Option shall be Dollars and Cents (__DOCTEXT__nbsp; ) per share, which has been determined
to be the Fair Market Value of the Stock. For all purposes of this Agreement, Fair Market Value of Stock shall
be determined in accordance with the provisions of the Plan.
3. Vesting of Option . The Option granted hereunder shall vest as follows:
(a) the option to purchase shares of Stock is vested and exercisable as
of , 200 ;
(b) the option to purchase shares of Stock is vested and exercisabl