Document:

AMENDMENT
TO

UNIT PURCHASE OPTION

This AMENDMENT TO UNIT
PURCHASE OPTION (this ‘‘Amendment’’), dated
September  12,  2006, is made by and between Juniper
Partners Acquisition Corp. (the
‘‘Company’’) and HCFP/Brenner Securities
LLC (‘‘Holder’’), to that certain Unit
Purchase Option referred to below.

WHEREAS, the Company issued
that certain Unit Purchase Option, dated July  13,  2005
(the ‘‘Unit Purchase Option’’), in
connection with the Company’s initial public offering and the
Holder is the owner of the Unit Purchase Option; and

WHEREAS, the
parties hereto have agreed that the Unit Purchase Option be amended as
set forth herein to clarify the understanding between the parties with
respect to the terms of the Unit Purchase Option effective as of the
date of its issuance.

NOW, THEREFORE, in consideration of the
premises and of the agreements contained herein, the parties hereto
hereby agree as follows:

1.    The Unit Purchase Option is
hereby amended by adding the following new Section 2.4 to such Unit
Purchase Option:

‘‘2.4    No Obligation to Net
Cash Settle. Notwithstanding anything to the contrary contained in this
Purchase Option, if the Company is unable to deliver any securities
pursuant to the exercise of this Purchase Option as a result of its
inability to satisfy its registration requirements set forth in Section
5 hereof, the Company will have no obligation to pay such registered
holder any cash or otherwise ‘‘net cash
settle’’ the
Warrant.’’

2.    Section 5.3 of the Unit
Purchase Option is hereby deleted in its entirety.

3.    Upon the due execution and delivery of this Amendment by
the parties hereto, on and after the date hereof each reference in the
Unit Purchase Option to this ‘‘Purchase
Option’’, ‘‘hereunder’’,
‘‘hereof’’,
‘‘herein’’ or words of like import
referring to the Unit Purchase Option shall mean and be a reference to
the Unit Purchase Option, as amended hereby. Except as specifically
amended above, the Unit Purchase Option shall remain in full force and
effect and is hereby ratified and confirmed.

4.    This
Amendment may be executed in one or more counterparts, and by the
different parties hereto in separate counterparts, each of which shall
be deemed to be an original, but all of which taken together shall
constitute one and the same agreement, and shall become effective when
one or more counterparts has been signed by each of the parties hereto
and delivered to each of the other parties
hereto.

IN WITNESS WHEREOF, the parties have
executed this AMENDMENT TO UNIT PURCHASE OPTION as of the date first
set forth
above.

				
	JUNIPER PARTNERS ACQUISITION
CORP.
	By:			/s/
Stuart B.
Rekant                                            
	 			Name:
Stuart B. Rekant
Title: Chief Executive
Officer
	HOLDER:
	HCFP/BRENNER
SECURITIES
LLC
	By:			/s/ Avi Lipsker
	 			Name: Avi
Lipsker
Title:    Managing
DirectorJAMES
J. RITCHIE 

Executive
Chairman

Quanta Capital Holdings Ltd.
Cumberland
House
#1Victoria Street
Hamilton HM 11,
Bermuda
441.294.6350

		September
14,  2006

Peter Johnson
36 Hubbard
Avenue
Red Bank, NJ 07701

Dear Peter:

I am
pleased to confirm our offer of employment to you for the position of
President and Chief Executive Officer, Quanta Capital Holdings Ltd. In
this position you will assume overall responsibility of the run-off of
Quanta’s Insurance Operations.

You will be paid a base
salary in the gross amount of $500,000 per annum with an annual target
cash bonus of 100% of your base salary within a range of 0 to
200%. Your bonus in your first year of employment will be
guaranteed at 100%. In order to receive a bonus you must be an
employee on the date that your guaranteed bonus is paid (September,
2007) unless you are terminated for reasons other than cause or if your
employment with Quanta is terminated as a result of a change in
control. In addition, you will receive 100,000 stock options effective
on the date that you accept this offer. Quanta stock options are seven
year options and become exercisable in four equal annual increments
during a four year period commencing on the first anniversary of the
option grant and become fully vested and exercisable on the fourth
anniversary of the grant.

On your first day of employment, you
will be eligible to participate in Quanta’s compensation
programs, contributory health, dental, life and 401 (k). This includes
term life insurance of three times your base salary to a maximum of
$1,000,000.

As discussed we are in the process of finalizing
Quanta’s long term compensation program. You will participate in
finalizing the recommendations for the long term compensation program
design. Your eligibility to participate in these programs will be
immediate once these programs are approved by the Compensation
Committee of the Board of Directors. In addition, you will be entitled
to five (5) weeks of paid vacation annually. Additionally as an officer
of Quanta Capital Holdings you will be covered by Quanta’s
D&O and E&O policy.

In the event your employment with
Quanta is terminated by Quanta within the first twenty four (24) months
of your employment for reasons other than
‘‘cause’’, as defined as in paragraph (k)
of Quanta’s Stock Option Agreement (see attached), you will be
paid the greater of twelve months severance or severance equal to the
number of months remaining between your termination of employment date
and your second year anniversary with Quanta. In the event that you are
terminated for reasons other than cause following your second year
anniversary, severance will be 12 months. Monthly severance shall be
the monthly equivalent of your eligible total annual cash
compensation.

I would appreciate if you would sign and return
this letter to confirm your acceptance. This offer letter constitutes
an entire agreement among the parties relating to the subject matter
hereof and may only be modified by written agreement signed by the
company and you.

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Peter, we sincerely believe that your work
with Quanta will be mutually exciting and rewarding. If you have any
questions about this offer or Quanta please contact me at your earliest
convenience.

				
	 			Sincerely,
	 			/s/ James J.
Ritchie        
	 			James J.
Ritchie
Chairman
	

Agreed and
accepted:

/s/ Peter
Johnson        

Peter
Johnson

September  14,
2006

                                       

            Date

2

QUANTA CAPITAL HOLDINGS
LTD.

FORM OF NON-QUALIFIED STOCK OPTION
AGREEMENT

FOR GOOD AND VALUABLE CONSIDERATION, receipt of which
is hereby acknowledged, Quanta Capital Holdings Ltd. (the
‘‘Company’’), a Bermuda company, hereby
grants to
                  , an
employee of a subsidiary of the Company on the date hereof (the
‘‘Option Holder’’), the option to purchase
common shares, $0.01 par value per share, of the Company
(‘‘Shares’’), upon the following
terms:

WHEREAS, the Option Holder has been granted the following
award in connection with his or her retention as an employee and as
compensation for services to be rendered; and the following terms
reflect the Company’s 2003 Long Term Incentive Plan (the
‘‘Plan’’);

NOW, THEREFORE, in
consideration of the premises and mutual covenants contained herein,
the parties hereto agree as follows.

(a)    Grant.    The
Option Holder is hereby granted an option (the
‘‘Option’’) to purchase Shares (the
‘‘Option Shares’’) pursuant to the Plan,
the terms of which are incorporated herein by reference. The Option is
granted as of March  8,  2005 (the ‘‘Date of
Grant’’) and such grant is subject to the terms and
conditions herein and the terms and conditions of the applicable
provisions of the Plan. This Option shall not be treated as an
incentive stock option as defined in Section 422 of the Internal
Revenue Code of 1986, as amended. In the event of any conflict between
this Agreement and the Plan, the Plan shall
control.

(b)    Status of Option Shares.    The Option
Shares shall upon issue rank equally in all respects with the other
Shares.

(c)    Option Price.    The purchase price for the
Option Shares shall be, except as herein provided, 8.920 per Option
Share, hereinafter sometimes referred to as the ‘‘Option
Price,’’ payable immediately in full upon the exercise of
the Option.

(d)    Term of Option.    The Option may be
exercised only during the period (the ‘‘Option
Period’’) set forth in paragraph (f) below and shall
remain exercisable until the seventh anniversary of the Date of Grant.
Thereafter, the Option Holder shall cease to have any rights in respect
thereof. The right to exercise the Option shall be subject to sooner
termination as provided in paragraph (j) below.

(e)    No
Rights of Shareholder.    The Option Holder shall not, by virtue
hereof, be entitled to any rights of a shareholder in the Company,
either at law or in
equity.

(f)    Exercisability.    Except as otherwise set
forth in paragraph (j) below, the Option shall become exercisable in
four equal annual increments during a four year period commencing on
the first anniversary hereof and becoming fully vested and exercisable
on the fourth anniversary of the date hereof. Subject to paragraph (j)
below, the Option may be exercised at any time or from time to time
during the Option Period in regard to all or any portion of the Option
which is then exercisable, as may be adjusted pursuant to paragraph (g)
below.

(g)    Adjustments for Recapitalization and
Dividends.    In the event that, prior to the expiration of the
Option, any dividend in Shares, recapitalization, Share split, reverse
split, reorganization, merger, consolidation, spin-off, combination,
repurchase, or share exchange, or other such change affects the Shares
such that they are increased or decreased or changed into or exchanged
for a different number or kind of shares, other securities of the
Company or of another corporation or other consideration, then in order
to maintain the proportionate interest of the Option Holder and
preserve the value of the Option, (i) there shall automatically be
substituted for each Share subject to the unexercised Option the number
and kind of shares, other securities or other consideration (including
cash) into which each outstanding Share shall be changed or for which
each such Share shall be exchanged, and (ii) the exercise price shall
be increased or decreased proportionately so that the aggregate
purchase price for the Shares subject to the unexercised Option shall
remain the same as immediately prior to such event.

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(h)    Nontransferability.    The
Option, or any interest therein, may not be assigned or otherwise
transferred, disposed of or encumbered by the Option Holder, other than
by will or by the laws of descent and distribution. During the lifetime
of the Option Holder, the Option shall be exercisable only by the
Option Holder or by his or her guardian or legal representative.
Notwithstanding the foregoing, the Option may be transferred by the
Option Holder (for no consideration) to members of his or her
‘‘immediate family,’’ to a trust or other
entity established for the exclusive benefit of solely one or more
members of the Option Holder’s ‘‘immediate
family,’’ or to a charitable organization qualified for
tax exemption under Code section 510(c)(3). Any Option held by the
transferee will continue to be subject to the same terms and conditions
that were applicable to the Option immediately prior to the transfer,
except that the Option will be transferable by the transferee only by
will or the laws of descent and distribution. For purposes hereof,
‘‘immediate family’’ means the Option
Holder’s children stepchildren, grandchildren, parents,
stepparents, grandparents, spouse, siblings (including half brother and
sisters), in laws, and relationships arising because of legal
adoption.

(i)    Exercise of Option.    In order to
exercise the Option, the Option Holder shall submit to the Company an
instrument in writing signed by the Option Holder, specifying the whole
number of Option Shares in respect of which the Option is being
exercised, accompanied by payment, in a manner acceptable to the
Company (which shall include a broker assisted exercise arrangement),
of the Option Price for the Option Shares for which the Option is being
exercised. Payment to the Company in cash or Shares already owned by
the Option Holder (provided that the Option Holder has owned such
Shares for a minimum period of six months or has purchased such Shares
on the open market) and having a total Fair Market Value (as defined
below) equal to the exercise price, or in a combination of cash and
such Shares, shall be deemed acceptable for purposes hereof. Option
Shares will be issued accordingly by the Company, and a share
certificate dispatched to the Option Holder within 30 days.

The
Company shall not be required to issue fractional Shares upon the
exercise of the Option. If any fractional interest in a Share would be
deliverable upon the exercise of the Option in whole or in part but for
the provisions of this paragraph, the Company, in lieu of delivering
any such fractional share therefor, shall pay a cash adjustment
therefor in an amount equal to their Fair Market Value (or if any
Shares are not publicly traded, an amount equal to the book value per
share at the end of the most recent fiscal quarter) multiplied by the
fraction of the fractional share which would otherwise have been issued
hereunder. Anything to the contrary herein notwithstanding, the Company
shall not be obligated to issue any Option Shares hereunder if the
issuance of such Option Shares would violate the provision of any
applicable law, in which event the Company shall, as soon as
practicable, take whatever action it reasonably can so that such Option
Shares may be issued without resulting in such violations of law. For
purposes hereof, Fair Market Value shall mean the mean between the high
and low selling prices per Share on the immediately preceding date (or,
if the Shares were not traded on that day, the next preceding day that
the Shares were traded) on the principal exchange on which the Shares
are traded, as such prices are officially quoted on such
exchange.

(j)    Termination of Service.    In the event
the Option Holder ceases to be an employee of the Company for any
reason, except due to the Option Holder’s death or Permanent
Disability (as defined below) or due to a termination of the Option
Holder’s employment by the Company for Cause (as defined below),
the Option, to the extent then exercisable, may be exercised for 90
days following termination of employment (but not beyond the Option
Period). To the extent the Option is not exercisable at the time of
termination of employment, the Option shall be immediately
forfeited.

(k)    For purposes of this Option, service with
any of the Company’s Subsidiaries (as defined in the Plan) shall
be considered to be service with the Company. In the event the Option
Holder is terminated for Cause, the Option cannot be exercised on or
after the date of termination of employment. In the event the Option
Holder ceases to be an employee of the Company due to the Option
Holder’s death or Permanent Disability, the Option shall become
immediately exercisable in full and shall continue to be exercisable by
the Option Holder (or his or her Beneficiary in the event of death) for
a period of three years following such termination of employment (but
not beyond the Option Period). For purposes hereof,
‘‘Cause’’ means (a) theft or embezzlement
by the Option Holder 

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with respect to the Company or its
subsidiaries; (b) malfeasance or gross negligence in the performance of
the Option Holder’s duties; (c) the commission by the Option
Holder of any felony or any crime involving moral turpitude; (d)
willful or prolonged absence from work by the Option Holder (other than
by reason of disability due to physical or mental illness) or failure,
neglect or refusal by the Option Holder to perform his or her duties
and responsibilities without the same being corrected within ten (10)
days after being given written notice thereof; (e) continued and
habitual use of alcohol by the Option Holder to an extent which
materially impairs the Option Holder’s performance of his or her
duties without the same being corrected within ten (10) days after
being given written notice thereof; or (f) the Option Holder’s
use of illegal drugs without the same being corrected within ten (10)
days after being given written notice thereof. For purposes hereof,
‘‘Permanent Disability’’ means those
circumstances where the Option Holder is unable to continue to perform
the usual customary duties of his or her assigned job for a period of
six (6) months in any twelve (12) month period because of physical,
mental or emotional incapacity resulting from injury, sickness or
disease. Any questions as to the existence of a Permanent Disability
shall be determined by a qualified, independent physician selected by
the Company and approved by the Option Holder (which approval shall not
be unreasonably withheld). The determination of any such physician
shall be final and conclusive for all purposes of this
Agreement.

(l)    Obligations as to Capital.    The Company
agrees that it will at all times maintain authorized and unissued share
capital sufficient to fulfill all of its obligations under the
Option.

(m)    Transfer of Shares.    The Option, the
Option Shares, or any interest in either, may be sold, assigned,
pledged, hypothecated, encumbered, or transferred or disposed of in any
other manner, in whole or in part, only in compliance with the terms,
conditions and restrictions as set forth in the governing instruments
of the Company, applicable United States federal and state securities
laws and the terms and conditions hereof.

(n)    Expenses of
Issuance of Option Shares.    The issuance of stock certificates upon
the exercise of the Option in whole or in part, shall be without charge
to the Option Holder. The Company shall pay, and indemnify the Option
Holder from and against any issuance, stamp or documentary taxes (other
than transfer taxes) or charges imposed by any governmental body,
agency or official (other than income taxes) by reason of the exercise
of the Option in whole or in part or the resulting issuance of the
Option Shares.

(o)    Withholding.    No later than the
date of transfer of the stock pursuant to the exercise of the Option
granted hereunder (and in any event no later than three days after
Option exercise), the Option Holder shall pay to the Company or make
arrangements satisfactory to the Committee regarding payment of any
federal, state or local taxes of any kind required by law to be
withheld upon the exercise of such Option and the Company shall, to the
extent permitted or required by law, have the right to deduct from any
payment of any kind otherwise due to the Option Holder, federal, state
and local taxes of any kind required by law to be withheld upon the
exercise of such Option.

(p)    References.    References
herein to rights and obligations of the Option Holder shall apply,
where appropriate, to the Option Holder’s legal representative
or estate without regard to whether specific reference to such legal
representative or estate is contained in a particular provision of this
Option.

(q)    Notices.    Any notice required or permitted
to be given under this agreement shall be in writing and shall be
deemed to have been given when delivered personally or by courier, or
sent by certified or registered mail, postage prepaid, return receipt
requested, duly addressed to the party concerned at the address
indicated below or to such changed address as such party may
subsequently by similar process give notice of:

If to the
Company:

			
		 	Quanta Capital Holdings
Ltd.
1 Victoria Street
Hamilton HM 11
Bermuda

Attn.: Secretary

5

If to the Option Holder:

The last
address delivered to the Company by the Option Holder in the manner set
forth herein.

(r)    Governing Law.    This agreement shall
be governed by and construed in accordance with the laws of New York,
without giving effect to principles of conflict of laws
thereof.

(s)    Entire Agreement.    This agreement and the
Plan constitute the entire agreement among the parties relating to the
subject matter hereof, and any previous agreement or understanding
among the parties with respect thereto is superseded by this agreement
and the Plan.

(t)    Counterparts.    This agreement may be
executed in two counterparts, each of which shall constitute one and
the same instrument.

IN WITNESS WHEREOF, the undersigned have
executed this agreement as of the Date of Grant.

		QUANTA
CAPITAL HOLDINGS LTD.

		                                                                    

		By:                                                                    

			
		 	Name:    

Title:

		                                                                    

[name]

6

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