BKV Corporation Watch

from S-8 10 pages BKV Corporation Employee Stock Purchase Plan

from S-1 2 pages Number Shares Countersigned: Broadridge Corporate Issuer Solutions, Inc. Transfer Agent By: Authorized Signature Dated: Incorporated Under the Laws of the State of Delaware See Reverse for Certain Definitions This Certifies That: Is the Owner of Common Stock Fully Paid and Non-Assessable Shares of Common Stock of $0.01 Par Value Each of BKV Corporation Transferable on the Books of the Corporation by the Holder Thereof in Person or by Duly Authorized Attorney Upon Surrender of This Certificate Duly Endorsed or Assigned. This Certificate and the Shares Represented Hereby Are Subject to the Laws of the State of Delaware, and to the Certificate of Incorporation and Bylaws of the Corporation, as Now or Hereafter Amended. This Certificate Is Not Valid Until Countersigned by the Transfer Agent. Witness the Facsimile Seal of the Corporation and the Facsimile Signatures of Its Duly Authorized Officers. Christopher P. Kalnin Chief Executive Officer John T. Jimenez Chief Financial Officer Specimen Specimen Specimen - Not Negotiable Specimen Not Negotiable

from DRS/A 2 pages Number Shares Countersigned: Broadridge Corporate Issuer Solutions, Inc. Transfer Agent By: Authorized Signature Dated: Incorporated Under the Laws of the State of Delaware See Reverse for Certain Definitions This Certifies That: Is the Owner of Common Stock Fully Paid and Non-Assessable Shares of Common Stock of $0.01 Par Value Each of BKV Corporation Transferable on the Books of the Corporation by the Holder Thereof in Person or by Duly Authorized Attorney Upon Surrender of This Certificate Duly Endorsed or Assigned. This Certificate and the Shares Represented Hereby Are Subject to the Laws of the State of Delaware, and to the Certificate of Incorporation and Bylaws of the Corporation, as Now or Hereafter Amended. This Certificate Is Not Valid Until Countersigned by the Transfer Agent. Witness the Facsimile Seal of the Corporation and the Facsimile Signatures of Its Duly Authorized Officers. Christopher P. Kalnin Chief Executive Officer John T. Jimenez Chief Financial Officer Specimen Specimen Specimen - Not Negotiable Specimen Not Negotiable