Document:

Exhibit-10.5

ISONICS
CORPORATION

2007 RESTRUCTURING EQUITY PLAN

1.             Purposes of and Benefits Under
the Plan.  This 2007 Restructuring
Equity Plan (the “Plan”) is intended to compensate new, continuing, and exiting
employees, officers, consultants, and advisors of Isonics Corporation and its
controlled, affiliated and subsidiary entities (collectively, the “Corporation”),
so that they may acquire or increase their proprietary interest in the
Corporation. The Plan is intended to facilitate the Corporation’s efforts
to:  (i) induce qualified persons to
become employees, officers, consultants and advisors of the Corporation; (ii)
compensate new, continuing and exiting employees, officers, consultants and
advisors for services provided to the Corporation; and (iii) encourage such
persons to remain in the employ of or associated with the Corporation and to
put forth maximum efforts for the success of the Corporation.  Options granted by the Committee pursuant to
Section 6 of this Plan are “incentive stock options” (“Incentive Stock Options”)
within the meaning of Section 422 of the Internal Revenue Code, and options
granted by the Committee pursuant to Section 7 of this Plan are “non-qualified
stock options” (“Non-qualified Stock Options”).

2.             Definitions.  As used in this Plan, the following words and
phrases shall have the meanings indicated:

(a)           “Board” shall mean the Board of
Directors of the Corporation.

(b)           “Bonus”
shall mean the grant of shares of Common Stock.

(c)           “Committee”
shall mean any committee appointed by the Board to administer this Plan, if one
has been appointed.  If no Committee has
been appointed, the term “Committee” shall mean the Board.

(d)           “Common
Stock” shall mean the Corporation’s no par value common stock.

(e)           “Disability”
shall mean a Recipient’s inability to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment
that can be expected to result in death or that has lasted or can be expected
to last for a continuous period of not less than 12 months.  If the Recipient has a disability insurance
policy, the term “Disability” shall be as defined therein.

(f)            “Fair
Market Value” per share as of a particular date shall mean the last sale price
of the Corporation’s Common Stock as reported on a national securities exchange
or by NASDAQ, or if the quotation for the last sale reported is not available
for the Corporation’s Common Stock, the average of the closing bid and asked
prices of the Corporation’s Common Stock as so reported or, if such quotations
are unavailable, the value determined by the Committee in accordance with its
discretion in making a bona fide, good faith determination of fair market
value.  Fair Market Value shall be
determined without regard to any restriction other than a restriction which, by
its terms, never will lapse.

     
 

(g)           “Option”
shall mean either an Incentive Stock Option or Non-qualified Stock Option
granted under this Plan.

(h)           “Recipient”
means any person granted an Option or awarded a Bonus hereunder.

(i)            “Internal
Revenue Code” shall mean the United States Internal Revenue Code of 1986, as
amended from time to time.

3.             Administration.

(a)           The
Plan shall be administered by the Committee. 
The Committee shall have the authority in its discretion, subject to and
not inconsistent with the express provisions of the Plan, to administer the
Plan and to exercise all the powers and authorities either specifically
conferred under the Plan or necessary or advisable in the administration of the
Plan, including the authority:  to grant
Options and Bonuses; to determine the vesting schedule and other restrictions,
if any, relating to Options and Bonuses; to determine the purchase price of the
shares of Common Stock covered by each Option (the “Option Price”); to
determine the persons to whom, and the time or times at which, Options and
Bonuses shall be granted; to determine the number of shares to be covered by
each Option or Bonus; to determine Fair Market Value per share; to interpret
the Plan; to prescribe, amend and rescind rules and regulations relating to the
Plan; to determine the terms and provisions of the Option agreements (which
need not be identical) entered into in connection with Options granted under
the Plan; and to make all other determinations deemed necessary or advisable
for the administration of the Plan.  The
Committee may delegate to one or more of its members or to one or more agents
such administrative duties as it may deem advisable, and the Committee or any
person to whom it has delegated duties as aforesaid may employ one or more
persons to render advice with respect to any responsibility the Committee or
such person may have under the Plan.

(b)           Options and Bonuses granted under the
Plan shall be evidenced by duly adopted resolutions of the Committee included
in the minutes of the meeting at which they are adopted or in a unanimous
written consent.

(c)           The
Committee shall endeavor to administer the Plan and grant Options and Bonuses
hereunder in a manner that is compatible with the obligations of persons subject
to Section 16 of the U.S. Securities Exchange Act of 1934 (the “1934 Act”),
although compliance with Section 16 is the obligation of the Recipient, not the
Corporation.  Neither the Committee, the
Board nor the Corporation can assume any legal responsibility for a Recipient’s
compliance with his obligations under Section 16 of the 1934 Act.

(d)           No
member of the Committee or the Board shall be liable for any action taken or
determination made in good faith with respect to the Plan or any Option or Bonus
granted hereunder.

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4.             Eligibility.

(a)           Subject to certain limitations
hereinafter set forth, Options and Bonuses may be granted to employees,
officers, consultants and advisors of the Corporation.  In determining the persons to whom Options or
Bonuses shall be granted and the number of shares to be covered by each Option
or Bonus, the Committee shall take into account the duties of the respective
persons, their present and potential contributions to the success of the
Corporation, and such other factors as the Committee shall deem relevant to
accomplish the purposes of the Plan.

(b)           A Recipient shall be eligible to
receive more than one grant of an Option or Bonus during the term of the Plan,
on the terms and subject to the restrictions herein set forth.

5.             Stock Reserved.

(a)           The stock subject to Options or
Bonuses hereunder shall be shares of Common Stock.  Such shares, in whole or in part, may be
authorized but unissued shares or shares that shall have been or that may be
reacquired by the Corporation.  The
aggregate number of shares of Common Stock as to which Options and Bonuses may
be granted from time to time under the Plan shall not exceed 3,500,000 subject
to adjustment as provided in Section 8(i) hereof.

(b)           If any Option outstanding under the
Plan for any reason expires or is terminated without having been exercised in
full, or if any Bonus granted is forfeited because of vesting or other
restrictions imposed at the time of grant, the shares of Common Stock allocable
to the unexercised portion of such Option or the forfeited portion of the Bonus
shall become available for subsequent grants of Options and Bonuses under the
Plan.

6.             Incentive
Stock Options.

(a)           Options
granted pursuant to this Section 6 are intended to constitute Incentive Stock
Options and shall be subject to the following special terms and conditions, in
addition to the general terms and conditions specified in Section 8
hereof.  Only employees of the
Corporation shall be entitled to receive Incentive Stock Options.

(b)           The
aggregate Fair Market Value (determined as of the [effective] date on which the
Incentive Stock Option is deemed granted) of the shares of Common Stock with
respect to which Incentive Stock Options granted under this Plan and any other
plan of the Corporation are exercisable for the first time by a Recipient
during any calendar year may not exceed the amount set forth in Section 422(d)
of the Internal Revenue Code.

(c)           Incentive
Stock Options granted under this Plan are intended to satisfy all requirements
for incentive stock options under Section 422 of the Internal Revenue Code and
the Treasury Regulations promulgated thereunder and, notwithstanding any other
provision of this Plan, the Plan and all Incentive Stock Options granted under
it shall be so construed, and all

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contrary
provisions shall be so limited in scope and effect and, to the extent they
cannot be so limited, they shall be void.

7.             Non-qualified
Stock Options.  Options granted
pursuant to this Section 7 are intended to constitute Non-qualified Stock
Options and shall be subject only to the general terms and conditions specified
in Section 8 hereof.

8.             Terms
and Conditions of Options.  Each
Option granted pursuant to the Plan shall be evidenced by a written Option
agreement between the Corporation and the Recipient, which agreement shall,
unless otherwise determined by the Committee, be substantially in the form of Exhibit
A hereto as modified from time to time by the Committee in its discretion,
and which shall, unless otherwise determined by the Committee, comply with and
be subject to the following terms and conditions:

(a)           Number
of Shares.  Each Option agreement
shall state the number of shares of Common Stock covered by the Option.

(b)           Type
of Option.  Each Option agreement
shall specifically identify the portion, if any, of the Option which
constitutes an Incentive Stock Option and the portion, if any, which
constitutes a Non-qualified Stock Option.

(c)           Option
Price.  Subject to adjustment as
provided in Section 8 (i) hereof, each Option agreement shall state the Option
Price, which shall be determined by the Committee subject only to the following
restrictions:

(1)           Each
Option agreement shall state the Option Price, which shall be not less than
100% of the Fair Market Value per share on the [effective] date of grant of the
Option.

(2)           Any
Incentive Stock Option granted under the Plan to a person owning more than ten
percent of the total combined voting power of the Common Stock shall be at a
price of no less than 110% of the Fair Market Value per share on the
[effective] date of grant of the Incentive Stock Option.

(3)           The
date on which the Committee adopts a resolution expressly granting an Option
shall be considered the day on which such option is granted, unless a future
date is specified in the resolution [or the applicable accounting rules under
which the Company prepares its audited financial statements (the “Applicable
Accounting Rules”) require the recognition of a different effective date for
the grant of such Option].

(d)           Term
of Option.  Each Option Agreement
shall state the period during and times at which the Option shall be exercis­able,
in accordance with the following limitations:

(1)           The
date on which the Committee adopts a resolution expressly granting an Option
shall be considered the day on which such Option is granted, unless a future

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date is specified
in the resolution [or the Applicable Accounting Rules require the recognition
of a different date for the grant of the Option], although any such grant shall
not be effective until the Recipient has executed an Option Agreement with
respect to such Option[, if required by the Applicable Accounting Rules].

(2)           The
exercise period of any Option shall not exceed ten years from the date of grant
of the Option.

(3)           Incentive Stock Options granted to a
person owning more than ten percent of the total combined voting power of the
Common Stock of the Corporation shall be for no more than five years.

(4)           The Committee shall have the
authority to accelerate or extend the exercisability of any outstanding Option
at such time and under such circumstances as it, in its sole discretion, deems
appropriate.  In any event, no exercise
period may be so extended to increase the term of an Incentive Stock Option beyond
ten years from the [effective] date of the grant.

(5)           The
exercise period shall be subject to earlier termination as provided in Sections
8(f) and 8(g) hereof, and, furthermore, shall be terminated upon surrender of
the Option by the holder thereof if such surrender has been authorized in advance
by the Committee.

(e)           Method of Exercise and Medium and
Time of Payment.

(1)           An Option may be exercised as to any
or all whole shares of Common Stock as to which it then is exercisable; provided, however, that no Option may be
exercised as to less than 100 shares (or such number of shares as to which the
Option is then exercisable if such number of shares is less than 100).

(2)           Each
exercise of an Option granted hereunder, whether in whole or in part, shall be
effected by written notice to the Secretary of the Corporation designating the
number of shares as to which the Option is being exercised, and shall be
accompanied by payment in full of the Option Price for the number of shares so
designated, together with any written statements required by, or deemed by the
Corporation’s counsel to be advisable pursuant to, any applicable securities
laws.

(3)           The
Option Price shall be paid in cash, or in shares of Common Stock having a Fair
Market Value, as of the effective date of such exercise in accordance with
paragraph 8(e)(2), equal to such Option Price, or in property or in a
combination of cash, shares and property and, subject to approval of the
Committee, may be effected in whole or in part with funds received from the
Corporation at the time of exercise as a compensatory cash payment for services
previously rendered.

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(4)           The
Committee shall have the sole and absolute discretion to determine whether or
not property other than cash or Common Stock may be used to purchase the shares
of Common Stock hereunder and, if so, to determine the value of the property
received.

(5)           The
Recipient shall make provision for the withholding of taxes as required by
Section 10 hereof.

(f)            Termination
of Relationship With Corporation.

(1)           Unless
otherwise provided in the Option agreement by and between the Corporation and
the Recipient, if the Recipient ceases to be an employee, officer, advisor, or
consultant of the Corporation (other than by reason of death, Disability or
retirement), all Options theretofore granted to such Recipient but not
theretofore exercised shall terminate three months following the date the
Recipient ceased to be an employee, officer, advisor or consultant of the
Corporation; provided, however,
that notwithstanding any other provision in this paragraph (8)(f)(1), if the
Recipient’s relationship with the Corporation is terminated for “Cause” (as
such term is defined in Section 8(l)), then the Recipient’s Options shall
terminate upon the date of termination of employment or termination of the
Recipient’s other relationship with the Corporation.

(2)           Nothing
in the Plan or in any Option or Bonus granted hereunder shall confer upon an
individual any right to continue in the employ of or continue any other
relationship with the Corporation or interfere in any way with the right of the
Corporation to terminate such employment or other relationship between the
individual and the Corporation.

(g)           Death,
Disability or Retirement of Recipient. 
Unless otherwise provided in the Option agreement by and between the Corporation
and the Recipient:

(1) if a Recipient shall die: (A) while an employee,
officer, advisor, or consultant of the Corporation; or (B) within ninety days
after the termination of such Recipient as an employee, officer, advisor or
consultant, other than termination for Cause; or

(2) if the Recipient’s relationship with the
Corporation shall terminate by reason of Disability or retirement;

then all Options theretofore granted to such Recipient
(whether or not otherwise exercisable) unless earlier terminated in accordance
with their terms, may be exercised at any time within one year after the date
of death, Disability or retirement of the Recipient by the Recipient or by the
Recipient’s estate or by a person who acquired the right to exercise such
Options by bequest or inheritance; provided,
however, that in the case of Incentive Stock Options such one-year
period shall be limited to three months in the case of retirement.

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(h)           Transferability
Restriction.

(1)           Options granted under the Plan shall
not be transferable other than by will or by the laws of descent and
distribution or pursuant to a qualified domestic relations order as defined by
the Internal Revenue Code or Title I of the Employee Retirement Income Security
Act of 1974, or the rules thereunder. 
Options may be exercised during the lifetime of the Recipient only by
the Recipient and thereafter only by Recipient’s legal representative.

(2)           Any attempted sale, pledge,
assignment, hypothecation or other transfer of an Option contrary to the
provisions hereof and/or the levy of any execution, attachment or similar
process upon an Option, shall be null and void and without force or effect and
shall result in a termination of the Option.

(3)           (A)  As a condition to the transfer of any shares
of Common Stock issued upon exercise of an Option granted under this Plan, the
Corporation may require (x) an opinion of counsel, reasonably satisfactory to
the Corporation, to the effect that such transfer will not be in violation of
the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any other
applicable securities laws or (y) that transfer of such shares has been
registered under federal and all applicable state securities laws.  (B) The Corporation shall be authorized to
refrain from delivering or transferring shares of Common Stock issued under
this Plan until the Committee determines that such delivery or transfer will
not violate applicable securities laws and the Recipient has tendered to the
Corporation any federal, state or local tax owed by the Recipient as a result
of exercising the Option or disposing of any Common Stock when the Corporation
has a legal liability to satisfy such tax. 
(C)  The Corporation shall not be liable
for damages due to delay in the delivery or issuance of any stock certificate
for any reason whatsoever, including, but not limited to, a delay caused by
listing requirements of any securities exchange or any registration
requirements under the 1933 Act, the 1934 Act, or under any other state,
federal or provincial law, rule or regulation, except where such delay is due
to the Corporation’s failure to act in good faith.  (D) 
The Corporation is under no obligation to take any action or incur any
expense in order to register or qualify the delivery or transfer of shares of
Common Stock under applicable securities laws or to perfect any exemption from
such registration or qualification.  (E)
The Corporation will not be liable to any Recipient for failure to deliver or
transfer shares of Common Stock if such failure is based upon the provisions of
this paragraph 8(h)(3).

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(i)            Effect
of Certain Changes.  This Plan has
been written as though the Corporation’s 4:1 reverse stock split scheduled to
be completed February 13, 2007, has taken effect, and therefore the maximum
number of shares contemplated by this Plan is based on the post-reverse split
shares.

(1)           If
there is any change in the number of shares of outstanding Common Stock through
the declaration of stock dividends, or through a recapitalization resulting in
stock splits or combinations or exchanges of such shares, the number of shares
of Common Stock available for Options and the number of such shares covered by
outstanding Options, and the exercise price per share of the outstanding
Options, shall be proportionately adjusted by the Committee to reflect any
increase or decrease in the number of issued shares of Common Stock; provided, however, that any fractional
shares resulting from such adjustment shall be eliminated.

(2)           In
the event of the proposed dissolution or liquidation of the Corporation, or any
corporate separation or division, including, but not limited to, split-up,
split-off or spin-off, or a merger or consolidation of the Corporation with
another corporation, the Committee may provide that the holder of each Option
then exercisable shall have the right to exercise such Option (at its then
current Option Price) solely for the kind and amount of shares of stock and
other securities, property, cash or any combination thereof receivable upon
such dissolution, liquidation, corporate separation or division, or merger or
consolidation by a holder of the number of shares of Common Stock for which
such Option might have been exercised immediately prior to such dissolution,
liquidation, corporate separation or division, or merger or consolidation; or,
in the alternative the Committee may provide that each Option granted under the
Plan shall terminate as of a date fixed by the Committee; provided, however, that not less than 30
days’ written notice of the date so fixed shall be given to each Recipient, who
shall have the right, during the period of 30 days preceding such termination,
to exercise the Option as to all or any part of the shares of Common Stock
covered thereby, including shares as to which such Option would not otherwise
be exercisable.

(3)           Paragraph
2 of this Section 8 (i) shall not apply to a merger or consolidation in which
the Corporation is the surviving corporation and shares of Common Stock are not
converted into or exchanged for stock, securities of any other corporation,
cash or any other thing of value. 
Notwithstanding the preceding sentence, in case of any consolidation or
merger of another corporation into the Corporation in which the Corporation is
the surviving corporation and in which there is a reclassification or change
(including a change to the right to receive cash or other property) of the
shares of Common Stock (excluding a change in par value, or from no par value
to par value, or any change as a result of a subdivision or combination, but including
any change in such shares into two or more classes or series of shares) or the
holders of all of the outstanding voting securities of the Corporation
immediately prior to such consolidation or merger do not constitute the holders
of a majority of the outstanding voting securities of the Corporation
immediately following such consolidation or merger, the Committee may provide
that the holder of each Option then exercisable shall have the right to
exercise such Option solely for the kind and amount of shares of stock and
other securities (including those of any new direct or indirect parent of the
Corporation), property, cash or any combination thereof receivable upon such
reclassification, change, consolidation or merger by

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the holder of the
number of shares of Common Stock for which such Option might have been
exercised.

(4)           In the event of a change in the
Common Stock of the Corporation as presently constituted into the same number
of shares with a differentpar
value, the shares resulting from any such change shall be deemed to be the
Common Stock of the Corporation within the meaning of the Plan.

(5)           To the extent that the foregoing
adjustments relate to stock or securities of the Corporation, such adjustments
shall be made by the Committee, whose determination in that respect shall, in
absence of bad faith or mathematical error, be final, binding and conclusive,
provided that each Incentive Stock Option granted pursuant to this Plan shall
not be adjusted in a manner that causes such option to fail to continue to
qualify as an Incentive Stock Option within the meaning of Section 422 of the
Internal Revenue Code.

(6)           Except as expressly provided in this
Section 8(i) or the applicable Option agreement, the Recipient shall have no
rights by reason of any subdivision or consolidation of shares of stock of any
class, or the payment of any stock dividend or any other increase or decrease
in the number of shares of stock of any class, or by reason of any dissolution,
liquidation, merger, or consolidation or spin-off of assets or stock of another
corporation; and any issue by the Corporation of shares of stock of any class,
or securities convertible into shares of stock of any class, shall not affect,
and no adjustment by reason thereof shall be made with respect to, the number
or price of shares of Common Stock subject to an Option.  The grant of an Option pursuant to the Plan
shall not affect in any way the right or power of the Corporation to make
adjustments, reclassifications, reorganizations or changes of its capital or
business structures, or to merge or consolidate, or to dissolve, liquidate, or
sell or transfer all or any part of its business or assets.

(j)            No Rights as Shareholder -
Non-Distributive Intent.

(1)           Neither a Recipient of an Option nor
such Recipient’s legal representative or heir shall be deemed to be the holder
of, or to have any rights of a holder with respect to, any shares subject to
such Option until after the Option is exercised and the shares are issued.

(2)           No adjustment shall be made for
dividends (ordinary or extraordinary, whether in cash, securities or other
property) or distributions or other rights for which the record date is prior
to the date such stock certificate is issued, except as provided in Section
8(i) hereof.

(3)           Upon exercise of an Option at a time
when there is no registration statement in effect under the 1933 Act relating
to the shares issuable upon exercise, shares may be issued to the Recipient
only if the Recipient represents and warrants in writing to the Corporation
that the shares purchased are being acquired for investment and not with a view
to the distribution thereof and provides the Corporation with sufficient
information to establish an

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exemption from the
registration requirements of the 1933 Act. 
A form of subscription agreement containing representations and
warranties deemed sufficient as of the date of adoption of this Plan is
attached hereto as Exhibit B.

(4)           No shares shall be issued upon the
exercise of an Option unless and until there shall have been compliance with
any then applicable requirements of the U.S. Securities and Exchange Commission
or any other regulatory agencies having jurisdiction over the Corporation.

(k)           Other Provisions.  Option agreements authorized under the Plan
may contain such other provisions, including, without limitation, (i) the
imposition of restrictions upon the exercise, and (ii) in the case of an
Incentive Stock Option, the inclusion of any condition not inconsistent with
such Option qualifying as an Incentive Stock Option, as the Committee shall
deem advisable.

(l)            Definition of “Cause.”   For the purposes of this Plan, the term “Cause”
shall mean (a) with respect to a specific Recipient, the definition assigned to
such term in an agreement between the Recipient and the Corporation, and
(b)  bad faith or willful misconduct by
the Recipient.

9.             Grant of Stock Bonuses.  In addition to, or in lieu of, the grant of
an Option, the Committee may grant Bonuses.

(a)           At the time of grant of a Bonus, the
Committee may impose a vesting period of up to ten years, and such other
restrictions which it deems appropriate. 
Unless otherwise directed by the Committee at the time of grant of a
Bonus, the Recipient shall be considered a shareholder of the Corporation as to
the Bonus shares which have vested in the grantee at any time regardless of any
forfeiture provisions which have not yet arisen.

(b)           The grant of a Bonus and the issuance
and delivery of shares of Common Stock pursuant thereto shall be subject to
reasonable approval by the Corporation’s counsel of all legal matters in
connection therewith, including compliance with the requirements of the 1933
Act, the 1934 Act, other applicable securities laws, rules and regulations, and
the requirements of any stock exchanges upon which the Common Stock then may be
listed.  Any certificates prepared to
evidence Common Stock issued pursuant to a Bonus grant shall bear legends as
the Corporation’s counsel may reasonably deem necessary or advisable.  Included among the foregoing requirements,
but without limitation, any Recipient of a Bonus at a time when a registration
statement relating thereto is not effective under the 1933 Act shall execute a
Subscription Agreement substantially in the form of Exhibit B.

10.           Agreement by Recipient Regarding
Taxes.

(a)           By accepting an Option or Bonus, each
Recipient agrees that the Corporation, to the extent permitted or required by
law, shall have the right to deduct a sufficient number of shares due to the
Recipient upon exercise of the Option or the grant of a Bonus to

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allow the
Corporation to pay federal, provincial, state and local taxes of any kind
required by law to be withheld upon the exercise of such Option or payment of
such Bonus from any payment of any kind otherwise due to the Recipient.  The Corporation shall not be obligated to
advise any Recipient of the existence of any tax or the amount which the
Corporation will be so required to withhold.

(b)           By accepting an Option or Bonus, each
Recipient acknowledges that the Corporation has advised such Recipient to
discuss the grant of such Option or Bonus with Recipient’s tax, legal,
investment, and other advisors as Recipient and such advisors determine to be
appropriate, and that such consultation shall include (to the extent determined
by the Recipient and such advisors to be appropriate or necessary) a discussion
of the advisability of making an election under Section 83 of the Internal
Revenue Code.

(c)           In connection with any Option or
receiving any shares underlying a Bonus, the Corporation may require Recipient
to affirm as correct the matters set forth in Sections 10(a) and 10(b).

11.           Term of Plan.  Options and Bonuses may be granted under this
Plan from time to time within a period of ten years from the date the Plan is
adopted by the Board.

12.           Amendment and Termination of the
Plan.

(a)           Subject to the policies, rules and
regulations of any lawful authority having jurisdiction (including any exchange
with which the shares of the Corporation are listed for trading), the Board may
at any time, without further action by the shareholders, amend the Plan or any
Option granted hereunder in such respects as it may consider advisable and,
without limiting the generality of the foregoing, it may do so to ensure that
Options granted hereunder will comply with any provisions respecting stock
options in the income tax and other laws in force in any country or
jurisdiction of which any Option holders may from time to time be a resident or
citizen, or it may at any time without action by shareholders terminate the
Plan; provided, however, that any
amendment that would require shareholder approval under applicable state law,
the rules and regulations of any national securities exchange on which the
Corporation’s securities then may be listed, the Internal Revenue Code or any
other applicable law, shall be subject to the approval of the shareholders of
the Corporation as provided in Section 13 hereof; further, provided, however, that any such modification that
may result from adjustments authorized by Section 8(i) hereof or which are
required for compliance with the 1934 Act, the Internal Revenue Code, their
rules or other laws or judicial order, shall not require such approval of the
shareholders.

(b)           Except as provided in Section 8
hereof, no suspension, termination, modification or amendment of the Plan may
adversely affect any Option previously granted, unless the written consent of
the Recipient is obtained.

13.           Approval of Shareholders.  The Plan shall take effect upon its adoption
by the Board but shall be subject to approval at a duly called and held meeting
of stockholders in conformance with the vote required by the Corporation’s
governing documents, resolution of the

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Board, any other
applicable law and the rules and regulations thereunder, or the rules and
regulations of any national securities exchange upon which the Corporation’s
Common Stock is listed and traded, each to the extent applicable.  To the extent that any Options or Bonuses
have been granted and the shareholders do not approve this Plan on or before
the first anniversary of the date of the Plan’s adoption by the Board, such
Options and Bonuses shall be deemed void ab
initio.

14.           Termination of Right of Action.  Every right of action arising out of or in
connection with the Plan by or on behalf of the Corporation, or by any
shareholder of the Corporation against any past, present or future member of
the Board, or against any employee, or by an employee (past, present or future)
against the Corporation will, irrespective of the place where an action may be
brought and irrespective of the place of residence of any such shareholder,
director or employee, cease and be barred by the expiration of three years from
the date of the act or omission in respect of which such right of action is
alleged to have risen.

15.           Tax Litigation.  The Corporation shall have the right, but not
the obligation, to contest, at its expense, any tax ruling or decision,
administrative or judicial, on any issue which is related to the Plan and which
the Board believes to be important to holders of Options and Bonuses issued
under the Plan and to conduct any such contest or any litigation arising
therefrom to a final decision.

16.           Adoption.   This Plan was approved by resolution of the
Compensation Committee of the Corporation on February 12, 2007 and by the Board
of Directors of the Corporation on February 12, 2007, with the adoption of the
Plan contingent on obtaining shareholder approval of the Plan at the next
meeting of shareholders of the Corporation.

[End of Plan]

 12
 

Exhibit A

FORM OF STOCK OPTION AGREEMENT

STOCK OPTION AGREEMENT

STOCK OPTION AGREEMENT made as of this         
day of            ,        ,
by and between Isonics Corporation, a California corporation (the “Corporation”),
and                     
                     
(the “Recipient”).

In accordance with the Corporation’s 2007
Restructuring Equity Plan (the “Plan”), the provisions of which are
incorporated herein by reference, the Corporation desires, in connection with
the services of the Recipient, to provide the Recipient with an opportunity to
acquire shares of the Corporation’s no par value common stock (“Common Stock”)
on favorable terms and thereby increase the Recipient’s proprietary interest in
the Corporation and incentive to put forth maximum efforts for the success of
the business of the Corporation. 
Capitalized terms used but not defined herein are used as defined in the
Plan.

NOW, THEREFORE, in consideration of the premises and
mutual covenants herein set forth and other good and valuable consideration,
the Corporation and the Recipient agree as follows:

1.             Confirmation
of Grant of Option.  Pursuant to a
determination of the Committee or, in the absence of a Committee, by the Board
of Directors of the Corporation made on                 ,
          (the “Date of Grant”),
the Corporation, subject to the terms of the Plan and of this Agreement,
confirms that the Recipient has been irrevocably granted on the Date of Grant,
as a matter of separate inducement and agreement, and in addition to and not in
lieu of salary or other compensation for services, a Stock Option (the “Option”)
exercisable to purchase shares of Common Stock described in the following
paragraphs (a) and (b) on the terms and conditions herein set forth, subject to
adjustment as provided in Paragraph 8 hereof.

a.                                                 
shares which will be considered to be Incentive Stock Options to the maximum
extent provided by law; and

b.                                                
shares (plus any shares set forth in Paragraph 1(a) above which are not
permitted to be treated as Incentive Stock Options) which will be considered to
be Nonqualified Stock Options.

2.             Option
Price.  The Option Price of shares of
Common Stock covered by the Option will be $       
per share (the “Option Price”) subject to adjustment as provided in Paragraph 8
hereof.

 13
 

3.             Vesting
and Exercise of Option.

a.             Except
as otherwise provided herein or in Section 8 of the Plan, the Option shall vest
and become exercisable as follows:  (immediately upon acceptance by the Optionee
executing the signature page to this Stock Option Agreement and returning it to
the Corporation (which must occur no later than           ),
or insert other vesting schedule                                                   );
provided, however,
that no portion of the Option shall vest or become exercisable unless the
Recipient is an employee, officer, advisor, or consultant of the Corporation on
such vesting date.

b.             The
Option may not be exercised at any one time as to fewer than 100 shares (or
such number of shares as to which the Option is then exercisable if such number
of shares is less than 100).

c.             The
Option may be exercised by written notice to the Secretary of the Corporation
accompanied by payment in full of the Option Price as provided in Section 8 of
the Plan.

4.             Term
of Option.  The term of the Option
will be through               ,
      , subject to earlier termination or
cancellation as provided in this Agreement. 
The holder of the Option will not have any rights to dividends or any
other rights of a shareholder with respect to any shares of Common Stock
subject to the Option until such shares shall have been issued (as evidenced by
the appropriate transfer agent of the Corporation) upon purchase of such shares
through exercise of the Option.

5.             Transferability
Restriction.  The Option may not be
assigned, transferred or otherwise disposed of, or pledged or hypothecated in
any way (whether by operation of law or otherwise) except in strict compliance
with Section 8 of the Plan.  Any
assignment, transfer, pledge, hypothecation or other disposition of the Option
or any attempt to make any levy of execution, attachment or other process will
cause the Option to terminate immediately upon the happening of any such event;
provided, however, that any such
termination of the Option under the provisions of this Paragraph 5 will not
prejudice any rights or remedies which the Corporation may have under this
Agreement or otherwise.

6.             Exercise
Upon Termination.  The Recipient’s
rights to exercise this Option upon termination of employment or cessation of
service as an employee, officer, advisor or consultant shall be as set forth in
Section 8(f) of the Plan.

7.             Death,
Disability or Retirement of Recipient. 
The exercisability of this Option upon the death, Disability or
retirement of the Recipient shall be as set forth in Section 8(g) of the Plan.

8.             Adjustments.  The Option shall be subject to adjustment
upon the occurrence of certain events as set forth in Section 8(i) of the Plan.

 14
 

9.             No
Registration Obligation.  The
Recipient understands that the Option is not registered under the 1933 Act and,
unless by separate written agreement, the Corporation has no obligation to so
register the Option or any of the shares of Common Stock subject to and
issuable upon the exercise of the Option, although it may from time to time
register under the 1933 Act the shares issuable upon exercise of Options
granted pursuant to the Plan.  The
Recipient represents that the Option is being acquired for the Recipient’s own
account and that unless registered by the Corporation, the shares of Common
Stock issued on exercise of the Option will be acquired by the Recipient for
investment.  The Recipient understands
that the Option is, and the underlying securities may be, issued to the
Recipient in reliance upon exemptions from the 1933 Act, and acknowledges and
agrees that all certificates for the shares issued upon exercise of the Option
may bear the following legend unless such shares are registered under the 1933
Act prior to their issuance:

The shares represented by this Certificate have not been registered under
the Securities Act of 1933 (the “1933 Act”), and are “restricted securities” as
that term is defined in Rule 144 under the 1933 Act.  The shares may not be offered for sale, sold
or otherwise transferred except pursuant to an effective registration statement
under the 1933 Act or pursuant to an exemption from registration under the 1933
Act, the availability of which is to be established to the satisfaction of the
Company.

The Recipient further understands and agrees that the
Option may be exercised only if at the time of such exercise the underlying
shares are registered and/or the Recipient and the Corporation are able to
establish the existence of an exemption from registra­tion under the 1933 Act
and applicable state or other laws.

10.           Notices.  Each notice relating to this Agreement will
be in writing and delivered in person or by certified mail to the proper
address.  Notices to the Corporation
shall be addressed to the Corporation, attention:  President, at 5906 McIntyre Street, Golden,
Colorado  80403, or at such other address
as may constitute the Corporation’s principal place of business at the time,
with a copy to: Herrick K. Lidstone, Jr., Esq., Burns, Figa & Will, P.C.,
6400 S. Fiddlers Green Circle, Suite 1000, Greenwood Village, CO 80111.  Notices to the Recipient or other person or
persons then entitled to exercise the Option shall be addressed to the
Recipient or such other person or persons at the Recipient’s address below
specified.  Anyone to whom a notice may
be given under this Agreement may designate a new address by notice to that
effect given pursuant to this Paragraph 10.

11.           Approval
of Counsel.  The exercise of the
Option and the issuance and delivery of shares of Common Stock pursuant thereto
shall be subject to the reasonable approval by the Corporation’s counsel of all
legal matters in connection therewith, including compliance with the
registration and reporting requirements of the 1933 Act, the Securities
Exchange Act of 1934, as amended, applicable state and other securities laws,
the rules and regulations thereunder, and the requirements of any national
securities exchange(s) upon which the Common Stock then may be listed.

 15
 

12.           Benefits
of Agreement.  This Agreement will
inure to the benefit of and be binding upon each successor and assignee of the
Corporation.  All obligations imposed
upon the Recipient and all rights granted to the Corporation under this
Agreement will be binding upon the Recipient’s heirs, legal representatives and
successors.

13.           Effect
of Governmental and Other Regulations. 
The exercise of the Option and the Corporation’s obligation to sell and
deliver shares upon the exercise of the Option are subject to all applicable
federal and state laws, rules and regulations, and to such approvals by any
regulatory or governmental agency which may, in the opinion of counsel for the
Corporation, be required.

14.           Plan
Governs.  In the event that any
provision in this Agreement conflicts with a provision in the Plan, the
provision of the Plan shall govern.

Executed in the
name and on behalf of the Corporation by one of its duly authorized officers
and by the Recipient all as of the date first above written.

	
  

  	
  ISONICS CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
  Date:                ,
           

  	
   

  	
  By:

  
	
   

  	
   

  	
  Title:

  
	
  The undersigned Recipient has read and understands
  the terms of this Option Agreement and the attached Plan and hereby agrees to
  comply therewith.

  
	
  Date:               ,
            

  	
   

  	
   

  
	
   

  	
   

  	
  Signature of Recipient

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Tax ID Number:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

 16
 

Exhibit B

SUBSCRIPTION AGREEMENT

THE
SECURITIES BEING ACQUIRED BY THE UNDERSIGNED HAVE NOT BEEN REGISTERED UNDER THE
U.S. SECURITIES ACT OF 1933 OR ANY OTHER LAWS AND ARE OFFERED UNDER EXEMPTIONS
FROM THE REGISTRATION PROVISIONS OF SUCH LAWS. 
THESE SECURITIES CANNOT BE SOLD, TRANSFERRED, ASSIGNED OR OTHERWISE
DISPOSED OF EXCEPT IN COMPLIANCE WITH THE RESTRICTIONS ON TRANSFER CONTAINED IN
THIS STOCK SUBSCRIPTION AGREEMENT AND APPLICABLE SECURITIES LAWS.

This Subscription
Agreement is entered for the purpose of the undersigned acquiring                    
shares of the no par value common stock (the “Securities”) of Isonics
Corporation, a California corporation (the “Corporation”), from the Corporation
as a Bonus or pursuant to exercise of an Option granted pursuant to the
Corporation’s 2007 Restructuring  Equity
Plan (the “Plan”). All capitalized terms not otherwise defined herein shall be
as defined in the Plan.

It is understood that no
grant of any Bonus or exercise of any Option at a time when no registration
statement relating thereto is effective under the U.S. Securities Act of 1933,
as amended (the “1933 Act”) can be completed until the undersigned executes
this Subscription Agreement and delivers it to the Corporation, and that such
grant or exercise is effective only in accordance with the terms of the Plan
and this Subscription Agreement.

In connection with the
undersigned’s acquisition of the Securities, the undersigned represents and
warrants to the Corporation as follows:

1.             The undersigned has been provided with, and has reviewed
the Plan, and such other information as the undersigned may have requested of
the Corporation regarding its business, operations, management, and financial
condition (all of which is referred to herein as the “Available Information”).

2.             The Corporation has given the undersigned the
opportunity to ask questions of and to receive answers from persons acting on
the Corporation’s behalf concerning the terms and conditions of this
transaction and the opportunity to obtain any additional information regarding
the Corporation, its business and financial condition or to verify the accuracy
of the Available Information which the Corporation possesses or can acquire
without unreasonable effort or expense.

3.             The Securities are being acquired by the undersigned for
the undersigned’s own account and not on behalf of any other person or entity.

 17
 

4.             The undersigned understands that the Securities being
acquired hereby have not been registered under the 1933 Act or any state or
foreign securities laws, and are, and unless registered will continue to be,
restricted securities within the meaning of Rule 144 of the General Rules and
Regulations under the 1933 Act and other statutes, and the undersigned consents
to the placement of appropriate restrictive legends on any certificates
evidencing the Securities and any certificates issued in replacement or
exchange therefor and acknowledges that the Corporation will cause its stock
transfer records to note such restrictions.

5.             By the undersigned’s execution below, it is acknowledged
and understood that the Corporation is relying upon the accuracy and
completeness hereof in complying with certain obligations under applicable
securities laws.

6.             This Agreement binds and inures to the benefit of the
representatives, successors and permitted assigns of the respective parties
hereto.

7.             The undersigned acknowledges that the grant of any Bonus
or Option and the issuance and delivery of shares of Common Stock pursuant
thereto shall be subject to the prior reasonable approval by the Corporation’s
counsel of all legal matters in connection therewith, including compliance with
the requirements of the 1933 Act and other applicable securities laws, the
rules and regulations thereunder, and the requirements of any national
securities exchange(s) upon which the Common Stock then may be listed.

8.             The undersigned acknowledges and agrees that the
Corporation has withheld                
shares for the payment of taxes as a result of the grant of the Bonus or the
exercise of an Option.

9.             The Plan is incorporated herein by reference.  In the event that any provision in this
Agreement conflicts with ANY provision in the Plan, the provisions of the Plan
shall govern.

	
  Date:              ,
          

  	
   

  
	
   

  	
  Signature of
  Recipient

  
	
   

  	
   

  
	
   

  	
  Tax ID Number:

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

 18exv10w2

 

Exhibit 10.2

AEA MEZZANINE FUNDING LLC

AEA MEZZANINE (UNLEVERAGED) FUND LP

200 First Stamford Place

Stamford, CT 06902

Telephone: (203) 564-2660

Fax: (203) 564-2661

February 17, 2007

TB Wood’s Corporation

TB Wood’s Incorporated

Plant Engineering Consultants, LLC

TB Wood’s Enterprises, Inc.

c/o TB Wood’s Corporation

440 North Fifth Avenue

Chambersburg, PA 17201-2869

Attention: William T. Fejes, Jr.

Ladies and Gentlemen:

          Reference is hereby made to the (i) 12% Senior Subordinated Promissory Note (together with the
allonge thereto, dated June 30, 2006, the “Original AEAM Funding Note”), due October 11, 2012,
issued by TB Wood’s Incorporated, Plant Engineering Consultants, LLC and TB Wood’s Enterprises,
Inc. (collectively, the “Borrowers”) to AEA Mezzanine Funding LLC (“AEAM Funding”) in the principal
amount of $10,185,086.06, (ii) 12% Senior Subordinated Promissory Note (the “New AEAM Funding
Note”), due October 11, 2012, issued by the Borrowers to AEAM Funding in the principal amount of
$1,198,413.94, (iii) Amended and Restated 12% Senior Subordinated Promissory Note, due October 11,
2012, (the “AEAUMF Note” and together with the Original AEAM Funding Note and the New AEAM Funding
Note, collectively, the “Notes”) issued by the Borrowers to AEA Mezzanine (Unleveraged) Fund LP
(“AEAUMF”) in the principal amount of $3,616,500, (iv) Warrant (the “Original AEAMF Warrant”)
issued by TB Wood’s Corporation (“Holdings”) to AEA Mezzanine Fund LP (“AEAMF” and together with
AEAM Funding and AEAUMF, collectively, “AEA”), dated October 27, 2005, initially exercisable for
118,147 shares of Common Stock, $.01 par value per share of Holdings (the “Common Stock”), (v)
Warrant (the “New AEAMF Warrant”) issued by Holdings to AEAMF, dated June 30, 2006, initially
exercisable for 13,902 shares of Common Stock, and (vi) Amended and Restated Warrant (the “AEAUMF
Warrant” and together with the Original AEAMF Warrant, and the new AEAMF Warrant, collectively, the
“Warrants”) issued by Holdings to AEAUMF, dated October 27, 2005, and amended and restated as of
June 30, 2006, initially exercisable for 41,951 shares of Common Stock. All capitalized terms used
herein without definition shall have the meanings assigned to such terms in the Purchase Agreement
(as defined in the Notes).

          Holdings has informed AEA that it has entered into an Agreement and Plan of Merger, dated as
of the date hereof (as in effect on the date hereof, the “Merger Agreement”), by and among Altra
Holdings, Inc., a Delaware corporation (“Parent”), Forest Acquisition Corporation, a Delaware
corporation and a wholly-owned subsidiary of Parent (“Purchaser”), and Holdings pursuant to which
(i) Purchaser has agreed to commence a tender offer (the “Offer”) to purchase all of the outstanding shares of Common
Stock, and (ii) Purchaser will be merged with and into

 

 

Holdings with Holdings as the surviving
corporation (the “Merger,” and together with the Offer and the other transactions contemplated by
the Merger Agreement, the “Transactions”).

          Holdings and Borrowers have requested that concurrently with the acceptance for purchase of
shares of Common Stock under the Offer (the “Tender Acceptance Date”), AEAM Funding and AEAUMF
exercise their respective rights pursuant to Section 3(a) of the Notes to cause the Borrowers to
prepay the outstanding principal amount of the Notes at the Change of Control Redemption Price
(as defined in the Notes), together with all other amounts contemplated by Section 3(a),
all in accordance with the terms of Section 3(a) (such rights, the “Put Rights”).
Subject to the terms and conditions of this letter agreement (the “Agreement”),
each of AEAM Funding and AEAUMF hereby agrees that, on the Tender Acceptance Date, each shall be
deemed to have elected to exercise its Put Rights under the Note or Notes held by it. The parties
acknowledge that the Change of Control Redemption Price specified in the Notes equals 101% of the
outstanding principal amount of the Notes.

          The foregoing exercise of AEA Funding’s and AEAUMF’s Put Rights shall not be effective unless
and until the following conditions shall have been satisfied:

          (i) the consummation of the transactions contemplated by the Merger Agreement substantially on
the terms set forth therein no later than June 15, 2007; (ii) simultaneously with the consummation
of the Merger, the holders of the Notes shall have received payment in full of the Change of
Control Redemption Price and all other amounts payable to such holders under Section 3(a) of such
Notes; (iii) the Merger Consideration (as defined in the Merger Agreement) shall be no less than
$24.80 per share of Common Stock, and, simultaneously with consummation of the Merger, the holders
of the Warrants shall have received the cash consideration set forth in Section 2.5 of the Merger
Agreement; (iv) AEA shall have received, in form and substance reasonably satisfactory to AEA,
evidence that the Senior Indebtedness shall have been paid in full; and (v) Holdings and Borrowers
shall have complied with their covenants and agreements contained herein, and their representations
and warranties contained herein shall be true and correct.

          Holdings and Borrowers acknowledge and agree that (i) as of the date hereof, after adjustment
pursuant to Section 3 of the Warrants for the dividends paid or to be paid to holders of Common
Stock of record on August 4, 2006, November 10, 2006 and February 23, 2007, the (A) Original AEAMF
Warrant is exercisable for 120,658.01 shares of Common Stock at an exercise price of $5.19 per
share, (B) New AEAMF Warrant is exercisable for 14,197.46 shares of Common Stock at an exercise
price of $5.19 per share and (C) AEAUMF Warrant is exercisable for 42,842.59 shares of Common Stock
at an exercise price of $5.19 per share, (ii) the exercise price and the shares issuable under the
Warrants shall be subject to adjustment in accordance with the terms of Section 3 of the Warrants
for all other events contemplated by Section 3 of the Warrants, and (iii) nothing in this Agreement
shall be construed as prohibiting AEA from exercising any remedies it may have upon the occurrence
of a Default or Event of Default.

          Holdings and Borrowers hereby represent, warrant and covenant (which representations,
warranties and covenants shall survive the execution and delivery of this Agreement and the payment
of the amounts contemplated by this Agreement) that (a) the execution, delivery and performance by
them of this Agreement and the payment of the amounts contemplated by this Agreement in respect of
the Notes and the Warrants (i) are within their corporate or company (as
applicable) power and authority, (ii) have been duly authorized by all necessary corporate or
company (as applicable) proceedings by Holdings and the Borrowers, (iii) do not conflict with or

2

 

result in any breach or contravention of any provision of law, statute, rule or regulation to which
any of them is subject or any judgment, order, writ, injunction, license or permit applicable to
any of them, and (iv) do not conflict with any provision of the corporate charter or by-laws or
other organizational documents of, or any agreement or other instrument binding upon, any of them,
(b) after giving effect to this Letter, no Default or event of Default exists under the Notes, and
(c) Holdings and the Borrowers shall pay all expenses (including, without limitation, fees, charges
and disbursement of counsel) incurred or to be incurred by the Investors in connection with this
Agreement and the Transactions (whether or not the Transactions close), including, without
limitation, AEA’s review of the Transactions and the documentation related thereto, and all other
expenses owed to AEA.

          THIS AGREEMENT SHALL BE GOVERNED BY, CONSTRUED IN ACCORDANCE WITH, AND ENFORCED UNDER, THE LAW
OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS OR INSTRUMENTS ENTERED INTO AND PERFORMED
ENTIRELY WITHIN SUCH STATE.

          THE PARTIES HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT TO TRIAL BY
JURY THEY MAY HAVE IN ANY ACTION OR PROCEEDING, IN LAW OR IN EQUITY, IN CONNECTION WITH ANY OF THE
TRANSACTIONS. HOLDINGS AND BORROWERS REPRESENT AND WARRANT THAT NO REPRESENTATIVE OR AGENT OF AEA
HAS REPRESENTED EXPRESSLY OR OTHERWISE, THAT AEA WILL NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THIS RIGHT TO JURY TRIAL WAIVER. HOLDINGS AND BORROWERS ACKNOWLEDGE THAT AEA HAS BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE PROVISIONS OF THIS SECTION.

[REMANDER OF PAGE INTENTIONALLY LEFT BLANK]

3

 

	 	 	 	 	 
	 	Very truly yours, 

AEA MEZZANINE FUNDING LLC

 	 
	 	By:  	/s/ Joseph D. Carrabino, Jr.
 	 
	 	 	Name:  	Joseph D. Carrabino, Jr. 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	AEA MEZZANINE (UNLEVERAGED) FUND LP	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	By:	 	AEA Mezzanine Partners LP,

its General Partner
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	By:	 	AEA Mezzanine Management GP LLC,

its General Partner

	 	 	 	 	 
	 	By:  	     /s/ Joseph D. Carrabino, Jr.
 	 
	 	 	Name:  	Joseph D. Carrabino, Jr. 	 
	 	 	Title:  	President 	 

4

 

	 	 	 	 	 

Agreed and Accepted as of the date
first written above:

TB WOOD’S CORPORATION

	 	 	 	 	 
	 	 	 
	By:  	                        /s/ William T. Fejes, Jr.
 	 	 
	 	Name:  	William T. Fejes, Jr. 	 	 
	 	Title:  	President and CEO 	 	 
	 

	 	 	 	 	 
	TB WOOD’S INCORPORATED

 	 
	By:  	/s/ William T. Fejes, Jr.
 	 	 
	 	Name:  	William T. Fejes, Jr. 	 	 
	 	Title:  	President and CEO 	 	 
	 

	 	 	 	 	 
	PLANT ENGINEERING CONSULTANTS, LLC

 	 
	By:  	/s/ Joseph C. Horvath
 	 	 
	 	Name:  	Joseph C. Horvath 	 	 
	 	Title:  	Treasurer and Secretary 	 	 
	 

	 	 	 	 	 
	TB WOOD’S ENTERPRISES, INC.

 	 
	By:  	/s/ Joseph C. Horvath
 	 	 
	 	Name:  	Joseph C. Horvath 	 	 
	 	Title:  	Treasurer and Secretary 	 	 
	 

5

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