Document:

EXHIBIT
      10.9

     

    THE
      REGISTERED HOLDER OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES
      THAT
      IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN
      PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL
      NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION FOR
      A
      PERIOD OF ONE YEAR FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER
      THAN (I) FERRIS, BAKER WATTS, INCORPORATED (“FERRIS”) OR AN UNDERWRITER OR A
      SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER
      OR
      PARTNER OF FERRIS OR OF ANY SUCH UNDERWRITER OR SELECTED
      DEALER.

     

    THIS
      PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO THE LATER OF THE CONSUMMATION BY
      CROSSFIRE CAPITAL CORPORATION OF A MERGER, CAPITAL STOCK EXCHANGE, ASSET
      ACQUISITION OR OTHER SIMILAR BUSINESS COMBINATION (“BUSINESS COMBINATION”) (AS
      DESCRIBED MORE FULLY IN THE COMPANY’S REGISTRATION STATEMENT (DEFINED HEREIN) OR
      _____________, 2007. VOID AFTER 5:00 P.M. EASTERN TIME, _____________,
      2011.

     

    UNIT
      PURCHASE OPTION

     

    For
      the Purchase of 

     

    500,000
      Units

     

    of

     

    CROSSFIRE
      CAPITAL CORPORATION

     

    1.  Purchase
      Option.
      

     

    THIS
      CERTIFIES THAT, in consideration of $100 duly paid by or on behalf of
      ____________________ (“Holder”), as registered owner of this Purchase Option, to
      Crossfire Capital Corporation (“Company”), Holder is entitled, at any time or
      from time to time upon the later of the consummation of a Business Combination
      or _________, 2007 (“Commencement Date”), and at or before 5:00 p.m., Eastern
      Time, ____________, 2011 (“Expiration Date”), but not thereafter, to subscribe
      for, purchase and receive, in whole or in part, up to Five Hundred Thousand
      (500,000) units (“Units”) of the Company, each Unit consisting of one share of
      common stock of the Company, par value $.0001 per share (“Common Stock”), and
      two warrants (“Warrant(s)”) expiring five years from the effective date
      (“Effective Date”) of the Company’s registration statement on Form S-1
      (“Registration Statement”) pursuant to which Units are offered for sale to the
      public (“Offering”). Each Warrant is the same as the warrant included in the
      Units being registered for sale to the public by way of the Registration
      Statement (“Public Warrants”) except that the Warrants included in the Purchase
      Option have an exercise price of $6.25 per share (125% of the exercise price
      of
      the warrants included), subject to adjustment as provided in Section 6 hereof.
      If the Expiration Date is a day on which banking institutions are authorized
      by
      law to close, then this Purchase Option may be exercised on the next succeeding
      day which is not such a day in accordance with the terms herein. During the
      period ending on the Expiration Date, the Company agrees not to take any action
      that would terminate the Purchase Option. This Purchase Option is initially
      exercisable at $7.50 per Unit (125% of the price of the Units sold in the
      Offering) so purchased; provided, however, that upon the occurrence of any
      of
      the events specified in Section 6 hereof, the rights granted by this Purchase
      Option, including the exercise price per Unit and the number of Units (and
      shares of Common Stock and Warrant) to be received upon such exercise, shall
      be
      adjusted as therein specified. The term “Exercise Price” shall mean the initial
      exercise price or the adjusted exercise price, depending on the
      context.

    
      
        
        

      

      
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    2.  Exercise.

     

    2.1  Exercise
      Form.
      In
      order to exercise this Purchase Option, the exercise form attached hereto must
      be duly executed and completed and delivered to the Company, together with
      this
      Purchase Option and payment of the Exercise Price for the Units being purchased
      payable in cash or by certified check or official bank check. If the
      subscription rights represented hereby shall not be exercised at or before
      5:00
      p.m., Eastern time, on the Expiration Date this Purchase Option shall become
      and
      be void without further force or effect, and all rights represented hereby
      shall
      cease and expire.

     

    2.2  Legend.
      Each
      certificate for the securities purchased under this Purchase Option shall bear
      a
      legend as follows unless such securities have been registered under the
      Securities Act of 1933, as amended (“Act”):

     

    “The
      securities represented by this certificate have not been registered under the
      Securities Act of 1933, as amended (“Act”) or applicable state law. The
      securities may not be offered for sale, sold or otherwise transferred except
      pursuant to an effective registration statement under the Act, or pursuant
      to an
      exemption from registration under the Act and applicable state
      law.”

     

    2.3  Cashless
      Exercise.

     

    2.3.1  Determination
      of Amount.
      In lieu
      of the payment of the Exercise Price multiplied by the number of Units for
      which
      this Purchase Option is exercisable (and in lieu of being entitled to receive
      Common Stock and Warrants) in the manner required by Section 2.1, the Holder
      shall have the right (but not the obligation) to convert any exercisable but
      unexercised portion of this Purchase Option into Units (“Conversion Right”) as
      follows: upon exercise of the Conversion Right, the Company shall deliver to
      the
      Holder (without payment by the Holder of any of the Exercise Price in cash)
      that
      number of Units equal to the quotient obtained by dividing (x) the “Value” (as
      defined below) of the portion of the Purchase Option being converted by (y)
      the
      Current Market Value (as defined below). The “Value” of the portion of the
      Purchase Option being converted shall equal the remainder derived from
      subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units
      underlying the portion of this Purchase Option being converted from (b) the
      Current Market Value of a Unit multiplied by the number of Units underlying
      the
      portion of the Purchase Option being converted. As used herein, the term
“Current Market Value” per Unit at any date means the remainder derived from
      subtracting (x) the exercise price of the Warrants multiplied by the number
      of
      shares of Common Stock issuable upon exercise of the Warrants underlying one
      Unit from (y) the Current Market Price of the Common Stock multiplied by the
      number of shares of Common Stock underlying the Warrants and the Common Stock
      issuable upon exercise of one Unit. The “Current Market Price” of a share of
      Common Stock shall mean (i) if the Common Stock is listed on a national
      securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap
      Market or NASD OTC Bulletin Board (or successor such as the Bulletin Board
      Exchange), the last sale price of the Common Stock in the principal trading
      market for the Common Stock as reported by the exchange, Nasdaq or the NASD,
      as
      the case may be; (ii) if the Common Stock is not listed on a national securities
      exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or
      the
      NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange),
      but
      is traded in the residual over-the-counter market, the closing bid price for
      the
      Common Stock on the last trading day preceding the date in question for which
      such quotations are reported by the Pink Sheets, LLC or similar publisher of
      such quotations; and (iii) if the fair market value of the Common Stock cannot
      be determined pursuant to clause (i) or (ii) above, such price as the Board
      of
      Directors of the Company shall determine, in good faith.

    
      
        
        

      

      
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    2.3.2  Mechanics
      of Cashless Exercise.
      The
      Cashless Exercise Right may be exercised by the Holder on any business day
      on or
      after the Commencement Date and not later than the Expiration Date by delivering
      the Purchase Option with a duly executed exercise form attached hereto with
      the
      cashless exercise section completed to the Company, exercising the Cashless
      Exercise Right and specifying the total number of Units the Holder will purchase
      pursuant to such Cashless Exercise Right.

     

    3.  Transfer.
      

     

    3.1  General
      Restrictions.
      The
      registered Holder of this Purchase Option agrees that it will not sell,
      transfer, assign, pledge or hypothecate this Purchase Option for a period of
      one
      year following the Effective Date to anyone other than (i) Ferris or an
      underwriter or a selected dealer in connection with the Offering, or (ii) a
      bona
      fide officer or partner of Ferris or of any such underwriter or selected dealer.
      On and after the Effective Date, transfers to others may be made subject to
      compliance with or exemptions from applicable securities laws. In order to
      make
      any permitted assignment, the Holder must deliver to the Company the assignment
      form attached hereto duly executed and completed, together with the Purchase
      Option and payment of all transfer taxes, if any, payable in connection
      therewith. The Company shall within five business days transfer this Purchase
      Option on the books of the Company and shall execute and deliver a new Purchase
      Option or Purchase Options of like tenor to the appropriate assignee(s)
      expressly evidencing the right to purchase the aggregate number of Units
      purchasable hereunder or such portion of such number as shall be contemplated
      by
      any such assignment.

    
      
        
        

      

      
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    3.2  Restrictions
      Imposed by the Act.
      The
      securities evidenced by this Purchase Option shall not be transferred unless
      and
      until (i) the Company has received the opinion of counsel for the Holder that
      the securities may be transferred pursuant to an exemption from registration
      under the Act and applicable state securities laws, the availability of which
      is
      established to the reasonable satisfaction of the Company (the Company hereby
      agreeing that the opinion of Gersten Savage LLP shall be deemed satisfactory
      evidence of the availability of an exemption), or (ii) a registration statement
      or a post-effective amendment to the Registration Statement relating to such
      securities has been filed by the Company and declared effective by the
      Securities and Exchange Commission and compliance with applicable state
      securities law has been established.

     

    4.  New
      Purchase Options to be Issued.

     

    4.1  Partial
      Exercise or Transfer.
      Subject
      to the restrictions in Section 3 hereof, this Purchase Option may be exercised
      or assigned in whole or in part. In the event of the exercise or assignment
      hereof in part only, upon surrender of this Purchase Option for cancellation,
      together with the duly executed exercise or assignment form and funds sufficient
      to pay any Exercise Price and/or transfer tax if exercised pursuant to Section
      2.1 hereto, the Company shall cause to be delivered to the Holder without charge
      a new Purchase Option of like tenor to this Purchase Option in the name of
      the
      Holder evidencing the right of the Holder to purchase the number of Units
      purchasable hereunder as to which this Purchase Option has not been exercised
      or
      assigned.

     

    4.2  Lost
      Certificate.
      Upon
      receipt by the Company of evidence satisfactory to it of the loss, theft,
      destruction or mutilation of this Purchase Option and of reasonably satisfactory
      indemnification or the posting of a bond, the Company shall execute and deliver
      a new Purchase Option of like tenor and date. Any such new Purchase Option
      executed and delivered as a result of such loss, theft, mutilation or
      destruction shall constitute a substitute contractual obligation on the part
      of
      the Company.

     

    5.  Registration
      Rights.
      

     

    5.1  Demand
      Registration.
      

     

    5.1.1  Grant
      of Right.
      The
      Company, upon written demand (“Initial Demand Notice”) of the Holder(s) of at
      least 51% of the Purchase Options and/or the underlying Units and/or the
      underlying securities (“Majority Holders”), agrees to register on one occasion,
      all or any portion of the Purchase Options requested by the Majority Holders
      in
      the Initial Demand Notice and all of the securities underlying such Purchase
      Options, including the Units, Common Stock, the Warrants and the Common Stock
      underlying the Warrants (collectively, the “Registrable Securities”). On such
      occasion, the Company will file a registration statement or a post-effective
      amendment to the Registration Statement covering the Registrable Securities
      within sixty days after receipt of the Initial Demand Notice and use its best
      efforts to have such registration statement or post-effective amendment declared
      effective as soon as possible thereafter. The demand for registration may be
      made at any time during a period of five years beginning on the Effective Date.
      The Company covenants and agrees to give written notice of its receipt of any
      Initial Demand Notice by any Holder(s) to all other registered Holders of the
      Purchase Options and/or the Registerable Securities within ten days from the
      date of the receipt of any such Initial Demand Notice. 

    
      
        
        

      

      
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    5.1.2  Terms.
      The
      Company shall bear all fees and expenses attendant to registering the
      Registrable Securities, including the reasonable expenses of any legal counsel
      selected by the Holders to represent them in connection with the sale of the
      Registrable Securities, but the Holders shall pay any and all underwriting
      commissions, if any. The Company agrees to use its reasonable best efforts
      to
      qualify or register the Registrable Securities in such States as are reasonably
      requested by the Majority Holder(s); provided, however, that in no event shall
      the Company be required to register the Registrable Securities in a State in
      which such registration would cause (i) the Company to be obligated to qualify
      to do business in such State, or would subject the Company to taxation as a
      foreign corporation doing business in such jurisdiction or (ii) the principal
      stockholders of the Company to be obligated to escrow their shares of capital
      stock of the Company. The Company shall cause any registration statement or
      post-effective amendment filed pursuant to the demand rights granted under
      Section 5.1.1 to remain effective for a period of twelve consecutive months
      from
      the effective date of such registration statement or post-effective
      amendment.

     

    5.2  “Piggy-Back”
      Registration.
      

     

    5.2.1  Grant
      of Right.
      In
      addition to the demand right of registration, the Holders of the Purchase
      Options shall have the right for a period of seven years commencing on the
      Effective Date, to include the Registrable Securities as part of any other
      registration of securities filed by the Company (other than in connection with
      a
      transaction contemplated by Rule 145(a) promulgated under the Act or pursuant
      to
      Form S-8); provided, however, that if, in the written opinion of the Company’s
      managing underwriter or underwriters, if any, for such offering, the inclusion
      of the Registrable Securities, when added to the securities being registered
      by
      the Company or the selling stockholder(s), will exceed the maximum amount of
      the
      Company’s securities which can be marketed (i) at a price reasonably related to
      their then current market value, and (ii) without materially and adversely
      affecting the entire offering, then the Company will still be required to
      include the Registrable Securities, but may require the Holders to agree, in
      writing, to delay the sale of all or any portion of the Registrable Securities
      for a period of 90 days from the effective date of the offering, provided,
      further, that if the sale of any Registrable Securities is so delayed, then
      the
      number of securities to be sold by all stockholders in such public offering
      shall be apportioned pro rata among all such selling stockholders, including
      all
      holders of the Registrable Securities, according to the total amount of
      securities of the Company owned by said selling stockholders, including all
      holders of the Registrable Securities, provided, further, that the number of
      securities to be sold by persons making a demand for registration in such public
      offering will not be required to reduce the number of shares being offered
      for
      sale on their behalf.

     

    5.2.2  Terms.
      The
      Company shall bear all fees and expenses attendant to registering the
      Registrable Securities, including the expenses of any legal counsel selected
      by
      the Holders to represent them in connection with the sale of the Registrable
      Securities but the Holders shall pay any and all underwriting commissions.
      In
      the event of such a proposed registration, the Company shall furnish the then
      Holders of outstanding Registrable Securities with not less than fifteen days
      written notice prior to the proposed date of filing of such registration
      statement. Such notice to the Holders shall continue to be given for each
      applicable registration statement filed (during the period in which the Purchase
      Option is exercisable) by the Company until such time as all of the Registrable
      Securities have been registered and sold. The holders of the Registrable
      Securities shall exercise the “piggy back” rights provided for herein by giving
      written notice, within ten business days of the receipt of the Company’s notice
      of its intention to file a registration statement. The Company shall cause
      any
      registration statement filed pursuant to the above “piggyback” rights to remain
      effective for at least twelve months from the date that the Holders of the
      Registrable Securities are first given the opportunity to sell all of such
      securities.

    
      
        
        

      

      
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    5.3  Damages.
      Should
      the registration or the effectiveness thereof required by Sections 5.1 and
      5.2
      hereof be delayed by the Company or the Company otherwise fails to comply with
      such provisions, the Company shall, in addition to any other equitable or other
      relief available to the Holder(s), be liable for any and all incidental, special
      and consequential damages sustained by the Holder(s), including, but not limited
      to, the loss of any profits that might have been received by the holder upon
      the
      sale of shares of Common Stock or Warrants (and shares of Common Stock
      underlying the Warrants) underlying this Purchase Option. 

     

    5.4  General
      Terms.
      

     

    5.4.1  Indemnification.
      The
      Company shall indemnify the Holder(s) of the Registrable Securities to be sold
      pursuant to any registration statement hereunder and each person, if any, who
      controls such Holders within the meaning of Section 15 of the Act or Section
      20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”),
      against all loss, claim, damage, expense or liability (including all reasonable
      attorneys’ fees and other expenses reasonably incurred in investigating,
      preparing or defending against litigation, commenced or threatened, or any
      claim
      whatsoever whether arising out of any action between the underwriters and the
      Company or between the underwriters and any third party or otherwise) to which
      any of them may become subject under the Act, the Exchange Act or otherwise,
      arising from such registration statement but only to the same extent and with
      the same effect as the provisions pursuant to which the Company has agreed
      to
      indemnify the underwriters contained in Section 5 of the Underwriting Agreement.
      The Holder(s) of the Registrable Securities to be sold pursuant to such
      registration statement, and their successors and assigns, shall severally,
      and
      not jointly, indemnify the Company, its officers and directors and each person,
      if any, who controls the Company within the meaning of Section 15 of the Act
      or
      Section 20(a) of the Exchange Act, against all loss, claim, damage, expense
      or
      liability (including all reasonable attorneys’ fees and other expenses
      reasonably incurred in investigating, preparing or defending against any claim
      whatsoever) to which they may become subject under the Act, the Exchange Act
      or
      otherwise, arising from information furnished by or on behalf of such Holders,
      or their successors or assigns, in writing, for specific inclusion in such
      registration statement to the same extent and with the same effect as the
      provisions contained in Section 5 of the Underwriting Agreement pursuant to
      which the underwriters have agreed to indemnify the Company.

    
      
        
        

      

      
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    5.4.2  Exercise
      of Purchase Options.
      Nothing
      contained in this Purchase Option shall be construed as requiring the Holder(s)
      to exercise their Purchase Options or Warrants underlying such Purchase Options
      prior to or after the initial filing of any registration statement or the
      effectiveness thereof.

     

    5.4.3  Documents
      Delivered to Holders.
      The
      Company shall furnish Ferris, as representative of the Holders participating
      in
      any of the foregoing offerings, a signed counterpart, addressed to the
      participating Holders, of (i) an opinion of counsel to the Company, dated the
      effective date of such registration statement (and, if such registration
      includes an underwritten public offering, an opinion dated the date of the
      closing under any underwriting agreement related thereto), and (ii) a “cold
      comfort” letter dated the effective date of such registration statement (and, if
      such registration includes an underwritten public offering, a letter dated
      the
      date of the closing under the underwriting agreement) signed by the independent
      public accountants who have issued a report on the Company’s financial
      statements included in such registration statement, in each case covering
      substantially the same matters with respect to such registration statement
      (and
      the prospectus included therein) and, in the case of such accountants’ letter,
      with respect to events subsequent to the date of such financial statements,
      as
      are customarily covered in opinions of issuer’s counsel and in accountants’
letters delivered to underwriters in underwritten public offerings of
      securities. The Company shall also deliver promptly to Ferris, as representative
      of the Holders participating in the offering, the correspondence and memoranda
      described below and copies of all correspondence between the Commission and
      the
      Company, its counsel or auditors and all memoranda relating to discussions
      with
      the Commission or its staff with respect to the registration statement and
      permit Ferris, as representative of the Holders, to do such investigation,
      upon
      reasonable advance notice, with respect to information contained in or omitted
      from the registration statement as it deems reasonably necessary to comply
      with
      applicable securities laws or rules of the National Association of Securities
      Dealers, Inc. (“NASD”). Such investigation shall include access to books,
      records and properties and opportunities to discuss the business of the Company
      with its officers and independent auditors, all to such reasonable extent and
      at
      such reasonable times and as often as Ferris, as representative of the Holders,
      shall reasonably request. The Company shall not be required to disclose any
      confidential information or other records to Ferris, as representative of the
      Holders, or to any other person, until and unless such persons shall have
      entered into reasonable confidentiality agreements (in form and substance
      reasonably satisfactory to the Company), with the Company with respect
      thereto.

     

    5.4.4  Underwriting
      Agreement.
      The
      Company shall enter into an underwriting agreement with the managing
      underwriter(s), if any, selected by any Holders whose Registrable Securities
      are
      being registered pursuant to this Section 5, which managing underwriter shall
      be
      reasonably acceptable to the Company. Such agreement shall be reasonably
      satisfactory in form and substance to the Company, each Holder and such managing
      underwriters, and shall contain such representations, warranties and covenants
      by the Company and such other terms as are customarily contained in agreements
      of that type used by the managing underwriter. The Holders shall be parties
      to
      any underwriting agreement relating to an underwritten sale of their Registrable
      Securities and may, at their option, require that any or all the
      representations, warranties and covenants of the Company to or for the benefit
      of such underwriters shall also be made to and for the benefit of such Holders.
      Such Holders shall not be required to make any representations or warranties
      to
      or agreements with the Company or the underwriters except as they may relate
      to
      such Holders and their intended methods of distribution. Such Holders, however,
      shall agree to such covenants and indemnification and contribution obligations
      for selling stockholders as are customarily contained in agreements of that
      type
      used by the managing underwriter. Further, such Holders shall execute
      appropriate custody agreements and otherwise cooperate fully in the preparation
      of the registration statement and other documents relating to any offering
      in
      which they include securities pursuant to this Section 5. Each Holder shall
      also
      furnish to the Company such information regarding itself, the Registrable
      Securities held by it, and the intended method of disposition of such securities
      as shall be reasonably required to effect the registration of the Registrable
      Securities.

    
      
        
        

      

      
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    5.4.5  Rule
      144 Sale.
      Notwithstanding anything contained in this Section 5 to the contrary, the
      Company shall have no obligation pursuant to Sections 5.1 or 5.2 for the
      registration of Registrable Securities held by any Holder (i) where such Holder
      would then be entitled to sell under Rule 144 within any three-month period
      (or
      such other period prescribed under Rule 144 as may be provided by amendment
      thereof) all of the Registrable Securities then held by such Holder, and (ii)
      where the number of Registrable Securities held by such Holder is within the
      volume limitations under paragraph (e) of Rule 144 (calculated as if such Holder
      were an affiliate within the meaning of Rule 144).

     

    5.4.6  Supplemental
      Prospectus.
      Each
      Holder agrees, that upon receipt of any notice from the Company of the happening
      of any event as a result of which the prospectus included in the Registration
      Statement, as then in effect, includes an untrue statement of a material fact
      or
      omits to state a material fact required to be stated therein or necessary to
      make the statements therein not misleading in light of the circumstances then
      existing, such Holder will immediately discontinue disposition of Registrable
      Securities pursuant to the Registration Statement covering such Registrable
      Securities until such Holder’s receipt of the copies of a supplemental or
      amended prospectus, and, if so desired by the Company, such Holder shall deliver
      to the Company (at the expense of the Company) or destroy (and deliver to the
      Company a certificate of such destruction) all copies, other than permanent
      file
      copies then in such Holder’s possession, of the prospectus covering such
      Registrable Securities current at the time of receipt of such
      notice.

     

    6.  Adjustments.

     

    6.1  Adjustments
      to Exercise Price and Number of Securities.
      The
      Exercise Price and the number of Units underlying the Purchase Option shall
      be
      subject to adjustment from time to time as hereinafter set forth:

     

    6.1.1  Stock
      Dividends; Split Ups.
      If
      after the date hereof, and subject to the provisions of Section 6.3 below,
      the
      number of outstanding shares of Common Stock is increased by a stock dividend
      payable in shares of Common Stock or by a split up of shares of Common Stock
      or
      other similar event, then, on the effective day thereof, the number of shares
      of
      Common Stock underlying each of the Units purchasable hereunder shall be
      increased in proportion to such increase in outstanding shares. In such case,
      the number of shares of Common Stock, and the exercise price applicable thereto,
      underlying the Warrants underlying each of the Units purchasable hereunder
      shall
      be adjusted in accordance with the terms of the Warrants. For example, if the
      Company declares a two-for-one stock dividend and at the time of such dividend
      this Purchase Option is for the purchase of one Unit at $7.50 per whole Unit
      (the Warrant underlying the Units is exercisable for $6.25 per share), upon
      effectiveness of the dividend, this Purchase Option will be adjusted to allow
      for the purchase of one Unit at $7.50 per Unit, each Unit entitling the holder
      to receive two shares of Common Stock and four Warrants (each Warrant
      exercisable for $3.125 per share).

    
      
        
        

      

      
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    6.1.2  Aggregation
      of Shares.
      If
      after the date hereof, and subject to the provisions of Section 6.3, the number
      of outstanding shares of Common Stock is decreased by a consolidation,
      combination or reclassification of shares of Common Stock or other similar
      event, then, on the effective date thereof, the number of shares of Common
      Stock
      underlying each of the Units purchasable hereunder shall be decreased in
      proportion to such decrease in outstanding shares. In such case, the number
      of
      shares of Common Stock, and the exercise price applicable thereto, underlying
      the Warrants underlying each of the Units purchasable hereunder shall be
      adjusted in accordance with the terms of the Warrants. 

     

    6.1.3  Replacement
      of Securities upon Reorganization, etc.
      In case
      of any reclassification or reorganization of the outstanding shares of Common
      Stock other than a change covered by Section 6.1.1 or 6.1.2 hereof or that
      solely affects the par value of such shares of Common Stock, or in the case
      of
      any merger or consolidation of the Company with or into another corporation
      (other than a consolidation or merger in which the Company is the continuing
      corporation and that does not result in any reclassification or reorganization
      of the outstanding shares of Common Stock), or in the case of any sale or
      conveyance to another corporation or entity of the property of the Company
      as an
      entirety or substantially as an entirety in connection with which the Company
      is
      dissolved, the Holder of this Purchase Option shall have the right thereafter
      (until the expiration of the right of exercise of this Purchase Option) to
      receive upon the exercise hereof, for the same aggregate Exercise Price payable
      hereunder immediately prior to such event, the kind and amount of shares of
      stock or other securities or property (including cash) receivable upon such
      reclassification, reorganization, merger or consolidation, or upon a dissolution
      following any such sale or transfer, by a Holder of the number of shares of
      Common Stock of the Company obtainable upon exercise of this Purchase Option
      and
      the underlying Warrants immediately prior to such event; and if any
      reclassification also results in a change in shares of Common Stock covered
      by
      Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant to Sections
      6.1.1, 6.1.2 and this Section 6.1.3. The provisions of this Section 6.1.3 shall
      similarly apply to successive reclassifications, reorganizations, mergers or
      consolidations, sales or other transfers.

     

    6.1.4  Changes
      in Form of Purchase Option.
      This
      form of Purchase Option need not be changed because of any change pursuant
      to
      this Section, and Purchase Options issued after such change may state the same
      Exercise Price and the same number of Units as are stated in the Purchase
      Options initially issued pursuant to this Agreement. The acceptance by any
      Holder of the issuance of new Purchase Options reflecting a required or
      permissive change shall not be deemed to waive any rights to an adjustment
      occurring after the Commencement Date or the computation thereof.

     

    6.2  Substitute
      Purchase Option.
      In case
      of any consolidation of the Company with, or merger of the Company with, or
      merger of the Company into, another corporation (other than a consolidation
      or
      merger which does not result in any reclassification or change of the
      outstanding Common Stock), the corporation formed by such consolidation or
      merger shall execute and deliver to the Holder a supplemental Purchase Option
      providing that the holder of each Purchase Option then outstanding or to be
      outstanding shall have the right thereafter (until the stated expiration of
      such
      Purchase Option) to receive, upon exercise of such Purchase Option, the kind
      and
      amount of shares of stock and other securities and property receivable upon
      such
      consolidation or merger, by a holder of the number of shares of Common Stock
      of
      the Company for which such Purchase Option might have been exercised immediately
      prior to such consolidation, merger, sale or transfer. Such supplemental
      Purchase Option shall provide for adjustments which shall be identical to the
      adjustments provided in Section 6. The above provision of this Section shall
      similarly apply to successive consolidations or mergers.

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    6.3  Elimination
      of Fractional Interests.
      The
      Company shall not be required to issue certificates representing fractions
      of
      shares of Common Stock or Warrants upon the exercise of the Purchase Option,
      nor
      shall it be required to issue scrip or pay cash in lieu of any fractional
      interests, it being the intent of the parties that all fractional interests
      shall be eliminated by rounding any fraction up to the nearest whole number
      of
      Warrants, shares of Common Stock or other securities, properties or
      rights.

     

    7.  Reservation
      and Listing.
      The
      Company shall at all times reserve and keep available out of its authorized
      shares of Common Stock, solely for the purpose of issuance upon exercise of
      the
      Purchase Options or the Warrants underlying the Purchase Option, such number
      of
      shares of Common Stock or other securities, properties or rights as shall be
      issuable upon the exercise thereof. The Company covenants and agrees that,
      upon
      exercise of the Purchase Options and payment of the Exercise Price therefor,
      all
      shares of Common Stock and other securities issuable upon such exercise shall
      be
      duly and validly issued, fully paid and non-assessable and not subject to
      preemptive rights of any stockholder. The Company further covenants and agrees
      that upon exercise of the Warrants underlying the Purchase Options and payment
      of the respective Warrant exercise price therefor, all shares of Common Stock
      and other securities issuable upon such exercise shall be duly and validly
      issued, fully paid and non-assessable and not subject to preemptive rights
      of
      any stockholder. As long as the Purchase Options shall be outstanding, the
      Company shall use its best efforts to cause all (i) shares of Common Stock
      issuable upon exercise of the Purchase Options, (ii) Warrants issuable upon
      exercise of the Purchase Options and (iii) shares of Common Stock issuable
      upon
      exercise of the Warrants included in the Units issuable upon exercise of the
      Purchase Option to be listed (subject to official notice of issuance) on all
      securities exchanges (or, if applicable on the Nasdaq National Market, SmallCap
      Market, OTC Bulletin Board or any successor trading market) on which the Units,
      Common Stock or the Public Warrants issued to the public in connection herewith
      may then be listed and/or quoted.

     

    8.  Certain
      Notice Requirements.

     

    8.1  Holder’s
      Right to Receive Notice.
      Nothing
      herein shall be construed as conferring upon the Holders the right to vote
      or
      consent or to receive notice as a stockholder for the election of directors
      or
      any other matter, or as having any rights whatsoever as a stockholder of the
      Company. If, however, at any time prior to the expiration of the Purchase
      Options and their exercise, any of the events described in Section 8.2 shall
      occur, then, in one or more of said events, the Company shall give written
      notice of such event at least fifteen days prior to the date fixed as a record
      date or the date of closing the transfer books for the determination of the
      stockholders entitled to such dividend, distribution, conversion or exchange
      of
      securities or subscription rights, or entitled to vote on such proposed
      dissolution, liquidation, winding up or sale. Such notice shall specify such
      record date or the date of the closing of the transfer books, as the case may
      be. Notwithstanding the foregoing, the Company shall deliver to each Holder
      a
      copy of each notice given to the other stockholders of the Company at the same
      time and in the same manner that such notice is given to the
      stockholders.

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    8.2  Events
      Requiring Notice.
      The
      Company shall be required to give the notice described in this Section 8 upon
      one or more of the following events: (i) if the Company shall take a record
      of
      the holders of its shares of Common Stock for the purpose of entitling them
      to
      receive a dividend or distribution payable otherwise than in cash, or a cash
      dividend or distribution payable otherwise than out of retained earnings, as
      indicated by the accounting treatment of such dividend or distribution on the
      books of the Company, or (ii) the Company shall offer to all the holders of
      its
      Common Stock any additional shares of capital stock of the Company or securities
      convertible into or exchangeable for shares of capital stock of the Company,
      or
      any option, right or warrant to subscribe therefor, or (iii) a dissolution,
      liquidation or winding up of the Company (other than in connection with a
      consolidation or merger) or a sale of all or substantially all of its property,
      assets and business shall be proposed.

     

    8.3  Notice
      of Change in Exercise Price.
      The
      Company shall, promptly after an event requiring a change in the Exercise Price
      pursuant to Section 6 hereof, send notice to the Holders of such event and
      change (“Price Notice”). The Price Notice shall describe the event causing the
      change and the method of calculating same and shall be certified as being true
      and accurate by the Company’s President and Chief Financial
      Officer.

     

    8.4  Transmittal
      of Notices.
      All
      notices, requests, consents and other communications under this Purchase Option
      shall be in writing and shall be deemed to have been duly made when hand
      delivered, or mailed by express mail or private courier service: (i) If to
      the
      registered Holder of the Purchase Option, to the address of such Holder as
      shown
      on the books of the Company, or (ii) if to the Company, to following address
      or
      to such other address as the Company may designate by notice to the Holders:
      

     

    Crossfire
      Capital Corporation

    950
      Third
      Avenue, Suite 2500

    New
      York,
      NY 10022

    Attn:
      Martin Oliner

     

    9.  Miscellaneous.

     

    9.1  Amendments.
      The
      Company and Ferris may from time to time supplement or amend this Purchase
      Option without the approval of any of the Holders in order to cure any
      ambiguity, to correct or supplement any provision contained herein that may
      be
      defective or inconsistent with any other provisions herein, or to make any
      other
      provisions in regard to matters or questions arising hereunder that the Company
      and Ferris may deem necessary or desirable and that the Company and Ferris
      deem
      shall not adversely affect the interest of the Holders. All other modifications
      or amendments shall require the written consent of and be signed by the party
      against whom enforcement of the modification or amendment is
      sought.

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    9.2  Headings.
      The
      headings contained herein are for the sole purpose of convenience of reference,
      and shall not in any way limit or affect the meaning or interpretation of any
      of
      the terms or provisions of this Purchase Option.

     

    10.  Entire
      Agreement.
      This
      Purchase Option (together with the other agreements and documents being
      delivered pursuant to or in connection with this Purchase Option) constitutes
      the entire agreement of the parties hereto with respect to the subject matter
      hereof, and supersedes all prior agreements and understandings of the parties,
      oral and written, with respect to the subject matter hereof.

     

    10.1  Binding
      Effect.
      This
      Purchase Option shall inure solely to the benefit of and shall be binding upon,
      the Holder and the Company and their permitted assignees, respective successors,
      legal representative and assigns, and no other person shall have or be construed
      to have any legal or equitable right, remedy or claim under or in respect of
      or
      by virtue of this Purchase Option or any provisions herein
      contained.

     

    10.2  Governing
      Law; Submission to Jurisdiction.
      This
      Purchase Option shall be governed by and construed and enforced in accordance
      with the laws of the State of Maryland, without giving effect to conflict of
      laws. The Company hereby agrees that any action, proceeding or claim against
      it
      arising out of, or relating in any way to this Purchase Option shall be brought
      and enforced in the courts of the State of Maryland or of the United States
      of
      America for the Southern District of Maryland, and irrevocably submits to such
      jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives
      any objection to such exclusive jurisdiction and that such courts represent
      an
      inconvenient forum. Any process or summons to be served upon the Company may
      be
      served by transmitting a copy thereof by registered or certified mail, return
      receipt requested, postage prepaid, addressed to it at the address set forth
      in
      Section 8 hereof. Such mailing shall be deemed personal service and shall be
      legal and binding upon the Company in any action, proceeding or claim. The
      Company and the Holder agree that the prevailing party(ies) in any such action
      shall be entitled to recover from the other party(ies) all of its reasonable
      attorneys’ fees and expenses relating to such action or proceeding and/or
      incurred in connection with the preparation therefor. 

     

    10.3  Waiver,
      Etc.
      The
      failure of the Company or the Holder to at any time enforce any of the
      provisions of this Purchase Option shall not be deemed or construed to be a
      waiver of any such provision, nor to in any way affect the validity of this
      Purchase Option or any provision hereof or the right of the Company or any
      Holder to thereafter enforce each and every provision of this Purchase Option.
      No waiver of any breach, non-compliance or non-fulfillment of any of the
      provisions of this Purchase Option shall be effective unless set forth in a
      written instrument executed by the party or parties against whom or which
      enforcement of such waiver is sought; and no waiver of any such breach,
      non-compliance or non-fulfillment shall be construed or deemed to be a waiver
      of
      any other or subsequent breach, non-compliance or non-fulfillment.

     

    10.4  Execution
      in Counterparts.
      This
      Purchase Option 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.

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    10.5  Exchange
      Agreement.
      As a
      condition of the Holder’s receipt and acceptance of this Purchase Option, Holder
      agrees that, at any time prior to the complete exercise of this Purchase Option
      by Holder, if the Company and Ferris enter into an agreement (“Exchange
      Agreement”) pursuant to which they agree that all outstanding Purchase Options
      will be exchanged for securities or cash or a combination of both, then Holder
      shall agree to such exchange and become a party to the Exchange Agreement.
      

     

    10.6  Underlying
      Warrants.
      At any
      time after exercise by the Holder of this Purchase Option, the Holder may
      exchange its Warrants (with a $6.25 exercise price) for Public Warrants (with
      a
      $5.00 exercise price) upon payment to the Company of the difference between
      the
      aggregate exercise price of the Warrants being exchanged and the aggregate
      exercise price of the Public Warrants for which Warrants are being
      exchanged.

     

    [Remainder
      of page deliberately left blank]

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the Company has caused this Purchase Option to be signed by
      its
      duly authorized officer as of the ___ day of __________, 2006.

     

    
      	 	 	 
	 	CROSSFIRE
              CAPITAL CORPORATION
	 
 	 
 	 
 
	 	By:  	 
	 	
               

               

            	
              
                

              

              Name: Martin Oliner

              Its: President

            
	 	
               

               

            
	 	 

    

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    Form
      to be used to exercise Purchase Option:

     

    Crossfire
      Capital Corporation

    950
      Third
      Avenue, Suite 2500

    New
      York,
      NY 10022

    Attn:
      Martin Oliner

     

    Date:_________________,
      200__

     

    The
      undersigned hereby elects irrevocably to exercise the within Purchase Option
      and
      to purchase ____ Units of Crossfire Capital Corporation and hereby makes payment
      of $____________ (at the rate of $_________ per Unit) in payment of the Exercise
      Price pursuant thereto. Please issue the Common Stock and Warrants as to which
      this Purchase Option is exercised in accordance with the instructions given
      below.

     

    or

     

    The
      undersigned hereby elects irrevocably to convert its right to purchase _________
      Units purchasable under the within Purchase Option by surrender of the
      unexercised portion of the attached Purchase Option (with a “Value” based of
      $_______ based on a “Market Price” of $_______). Please issue the securities
      comprising the Units as to which this Purchase Option is exercised in accordance
      with the instructions given below.

     

    
      	 	 	
            
	 	 
	 	 	
              
Signature

    

     

    
      	 	 	 
	 	 
	 
 	
 	
              
Signature
              Guaranteed

    

     

    INSTRUCTIONS
      FOR REGISTRATION OF SECURITIES

     

    Name
      ____________________________________________________________________________________________

    (Print
      in
      Block Letters)

     

    Address
      __________________________________________________________________________________________

     

    NOTICE:
      The signature to this form must correspond with the name as written upon the
      face of the within Purchase Option in every particular without alteration or
      enlargement or any change whatsoever, and must be guaranteed by a bank, other
      than a savings bank, or by a trust company or by a firm having membership on
      a
      registered national securities exchange.

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    Form
      to be used to assign Purchase Option:

     

    ASSIGNMENT

     

    (To
      be
      executed by the registered Holder to effect a transfer of the within Purchase
      Option):

     

    
      FOR
        VALUE
        RECEIVED,_________________________________________ does hereby sell, assign
        and
        transfer unto___________________________________________ the right to purchase
        __________ Units of Crossfire Capital Corporation (“Company”) evidenced by the
        within Purchase Option and does hereby authorize the Company to transfer
        such
        right on the books of the Company.

    

     

    Dated:___________________,
      200_

     

    
      
        	 	 	
              
	 	 
	 	 	
                
Signature

      

       

      
        	 	 	 
	 	 
	 
 	
 	
                
Signature
                Guaranteed

      

       

    

    NOTICE:
      The signature to this form must correspond with the name as written upon the
      face of the within Purchase Option in every particular without alteration or
      enlargement or any change whatsoever, and must be guaranteed by a bank, other
      than a savings bank, or by a trust company or by a firm having membership on
      a
      registered national securities exchange.

     

    
      
        
        

      

      
        16Exhibit 10.1

               AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT

     THIS AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (this "Agreement")
by and between Standard Parking Corporation, a Delaware corporation (the
"Company"), and Edward E. Simmons (the "Executive"), dated as of the 18th day of
May 2006 (the "Agreement Date").

                                    RECITALS

     A. Prior to the Agreement Date and continuing to the Effective Date,
Executive was and will be employed by the Company pursuant to a Management
Employment Agreement dated August 1, 1999 (the "1999 Employment Agreement"). The
Company is in the business of operating private and public parking facilities
for itself, its subsidiaries, affiliates and others, and as a consultant and/or
manager for parking facilities operated by others throughout the United States
and Canada (the Company and its subsidiaries and affiliates and other
Company-controlled businesses engaged in parking garage management (in each case
including their predecessor's or successor's) are referred to hereinafter as the
"Parking Companies").

     B. In the course of Executive's employment previously and hereunder,
Executive has had and will have access to highly confidential and proprietary
information of the Parking Companies and their clients, including without
limitation the information referred to in Paragraph 6 hereafter.

     C. The Company and Executive desire to continue Executive's employment
relationship with the Company after the present termination date of the 1999
Agreement by amending and restating the terms of Executive's 1999 Employment
Agreement, on and subject to the terms and conditions hereinafter set forth.

     NOW, THEREFORE, in consideration of: (i) the foregoing premises, (ii) the
mutual covenants and agreements herein contained and (iii) the salary
continuation payment payable on termination, the Company and Executive hereby
covenant and agree as follows:

     1. Employment Period. The Company shall employ the Executive, and the
Executive shall serve the Company, on the terms and conditions set forth in this
Agreement, for a period beginning on May 1, 2007 (the "Effective Date") and
ending April 30, 2010 (the "Employment Period"). The Employment Period shall
automatically extend for additional terms of one (1) year each (individually
referred to as a "Renewal Period" and in the plural as the "Renewal Periods")
unless the Company or Executive shall have given notice in writing of their
intention not to renew the Agreement not less than one hundred twenty (120) days
prior to the expiration of the Employment Period or any applicable Renewal
Period. The Employment Period, as extended by one or more Renewal Periods, shall
hereinafter be deemed to be the Employment Period. Notwithstanding any such
termination, Paragraph 6 of this Agreement shall remain in full force and
effect.

                                       5
<PAGE>

     2. Position and Duties. During the Employment Period, the Executive shall
serve as Executive Vice President-Operations (West Division) of the Company,
with the duties, authority and responsibilities as are commensurate with such
position and as are customarily associated with such position. Executive shall
hold such other positions in the Company or any of the other Parking Companies
as may be assigned to him from time to time by the Chief Executive Officer of
the Company. The Executive shall report directly to the Chief Executive Officer
of the Company or as otherwise directed by the Chief Executive Officer. During
the Employment Period, and excluding any periods of vacation and sick leave to
which the Executive is entitled, the Executive shall devote full attention and
time during normal business hours to the business and affairs of the Company
and, to the extent necessary to discharge the responsibilities assigned to the
Executive under this Agreement, use the Executive's reasonable best efforts to
carry out such responsibilities faithfully and efficiently. The Executive shall
not, during the terms of this Agreement, engage in any other business activities
that will interfere with the Executive's employment pursuant to this Agreement.
Executive shall discharge his duties and responsibilities under this Agreement
in accordance with the Company's Code of Conduct presently in effect or as
amended and modified from time to time hereafter.

     3. Compensation.

        (a) Base Salary. During the Employment Period, the Executive shall
receive an annual base salary of $290,000 (the "Annual Base Salary"), payable in
accordance with the Company's normal payroll practice for executives as in
effect from time to time. The Annual Base Salary shall be subject to review
annually in accordance with the Company's review policies and practices for
executives as in effect at the time of any such review.

        (b) Bonus. For each calendar year (or portion thereof) during the
Employment Period, the Executive shall be eligible to receive an annual bonus
(the "Annual Bonus") based upon the terms and conditions of an annual bonus
program established by the Company for similarly-situated Executive Vice
Presidents (the "EVP Bonus Program"). It currently is expected that the Annual
Bonus will be paid by March 15th of the calendar year immediately following the
calendar year (or portion thereof) with respect to which the Annual Bonus is
earned. The Executive's annual target bonus under the EVP Bonus Program shall be
$100,000 ("Target Annual Bonus"), which shall be prorated with respect to any
partial calendar year within the Employment Period (it being acknowledged that
Executive's Target Annual Bonus for the period from May 1 through December 31,
2007 shall be $66,667), with the actual amount of the Annual Bonus being
determined in accordance with the terms of the EVP Bonus Program.
Notwithstanding the foregoing sentence, for each calendar year (or portion
thereof) during the Employment Period, Executive's actual Annual Bonus shall not
be less than 90% of the Target Annual Bonus.

        (c) Equity Plan. In the event the Company adopts an equity plan or
program (the "Equity Plan") for its key executives during the term of this
Agreement, the Executive shall be entitled to participate in the Equity Plan on
a similar basis as similarly situated executive vice presidents of the Company
from and after the effective date thereof in accordance with the terms and
conditions of the Equity Plan.

                                       6
<PAGE>

        (d) Other Benefits. In addition to the foregoing, during the Employment
Period: (i) the Executive shall be entitled to participate in savings,
retirement, and fringe benefit plans, practices, policies and programs of the
Company as in effect from time to time, including, but not limited to the
Company's 401(K) plan, on the same terms and conditions as those applicable to
peer executives; (ii) the Executive shall be entitled to four (4) weeks of
annual vacation (prorated for the calendar year ending December 31, 2007), to be
taken in accordance with the Company's vacation policy as in effect from time to
time; and (iii) the Executive and the Executive's family shall be eligible for
participation in, and shall receive all benefits under medical, disability and
other welfare benefit plans, practices, policies and programs provided by the
Company, as in effect from time to time, on the same terms and conditions as
those applicable to peer executives as of the Commencement Date of this
Agreement.

        (e) Business Expenses. Executive shall be reimbursed by the Company for
those business expenses authorized by the Company and those for which are
necessarily and reasonably incurred on behalf of the Company and which may be
properly be deducted by the Company as business expenses for federal tax
purposes.

     4. Termination of Employment.

        (a) Death or Disability. In the event of the Executive's death during
the Employment Period, the Executive's employment with the Company shall
terminate automatically. The Company, in its discretion, shall have the right to
terminate the Executive's employment because of the Executive's Disability
during the Employment Period. For purposes of this Agreement, "Disability" shall
mean the absence of the Executive from the Executive's duties with the Company
on a full-time basis for 180 consecutive business days, or for periods
aggregating 180 business days in any period of twelve months, as a result of
incapacity due to mental or physical illness or injury which is determined to be
total and permanent by a physician selected by the Company or its insurers. A
termination of the Executive's employment by the Company for Disability shall be
communicated to the Executive by written notice, and shall be effective on the
30th day after receipt of such notice by the Executive (the "Disability
Effective Date"), unless the Executive returns to full-time performance of the
Executive's duties before the Disability Effective Date.

        (b) By the Company. In addition to termination for Disability, the
Company may terminate the Executive's employment during the Employment Period
for Cause or without Cause. "Cause" means:

            (i) the continued and willful or deliberate failure of the Executive
to substantially perform the Executive's duties, or to comply with the
Executive's obligations, under this Agreement (other than as a result of
physical or mental illness or injury); or

            (ii) illegal or gross misconduct by the Executive, in either case
that is willful and results in material damage to the business or reputation of
the Company.

                                       7
<PAGE>

Upon the occurrence of events constituting Cause as defined in subsection (i) of
this paragraph (b), the Company shall give the Executive advance notice of any
such termination for Cause and shall provide the Executive with a reasonable
opportunity to cure.

        (c) Voluntarily by the Executive. The Executive may terminate his
employment by giving written notice thereof to the Company, provided, however,
that if Executive terminates his employment for Good Reason, such termination
shall not be considered a voluntary termination by Executive and Executive shall
be treated as if he had been terminated by the Company pursuant to paragraph
5(a) below. "Good Reason" means any of the following:

            (ii) the Company requires or otherwise takes such action as would
require the Executive's relocation Los Angeles, California;

            (ii) a reduction in the Executive's Annual Salary, which is not
accompanied by a similar reduction in annual salaries of similarly situated
executive's of the Company; or

            (iii) a breach by the Company of this Agreement after Executive has
given advance written notice of any such breach to the Company and a reasonable
opportunity to cure.

        (d) Date of Termination. The "Date of Termination" means the date of the
Executive's death, the Disability Effective Date, the date on which the
termination of the Executive's employment by the Company for Cause, as set forth
in notice from the Company, is effective, the date that notice of termination is
provided to the Executive from Company of a termination of the Executive's
employment by the Company other than for Cause or Disability, or the date on
which the Executive gives the Company notice of termination of employment, as
the case may be.

     5. Obligations of the Company upon Termination.

        (a) By the Company Other Than for Cause or Disability. If, during the
Employment Period, the Company terminates the Executive's employment, other than
for Cause or Disability, the Company shall, for the duration of the Employment
Period, as in effect immediately before the Date of Termination, continue to pay
the Executive the Annual Base Salary and the Annual Bonus through the end of
such Employment Period, as and when such amounts would be paid in accordance
with paragraph 3(a) and (b) above, provided the amount of any Annual Bonus so
paid shall equal the Target Annual Bonus. The Company shall also continue to
provide for the same period welfare benefits to the Executive and the
Executive's family, at least as favorable as those that would have been provided
to them under clause (d)(iii) of Paragraph 3 of this Agreement if the
Executive's employment had continued until the end of the Employment Period,
provided, that during any period when the Executive is eligible to receive such
benefits under another employer-provided plan, the benefits provided by the
Company under this paragraph 5(a) may be made secondary to those provided under
such other plan and shall pay Executive any accrued but unpaid vacation pay.

                                       8
<PAGE>

        (b) Death. If the Executive's employment is terminated by reason of the
Executive's death during the Employment Period, the Company shall make, within
30 days after the Date of Termination, a lump-sum cash payment to the
Executive's estate equal to the sum of (i) the Executive's Annual Base Salary
through the end of the calendar month in which death occurs, (ii) any earned and
unpaid Annual Bonus for any calendar year ended prior to the Date of Termination
and a pro-rated Target Bonus for services to the Date of Termination, (iii) any
accrued but unpaid vacation pay and (iv) any other vested benefits to which the
Executive is entitled, in each case to the extent not yet paid, except for any
death benefit, in which case the death benefit shall be paid to Executive's
estate within seven (7) days following receipt of any such death benefit by the
Company from the insurer.

        (c) Disability. In the event the Executive's employment is terminated by
reason of the Executive's Disability during the Employment Period in accordance
with paragraph 4(a) hereof, the Company shall pay to the Executive or the
Executive's legal representative, as applicable, (i) the Executive's Annual Base
Salary for the duration of the Employment Period in effect immediately before
the Date of Termination, provided that any such payments made to the Executive
shall be reduced by the sum of the amounts, if any, payable to the Executive
under any disability benefit plans of the Company or under the Social Security
disability insurance program, (ii) any earned and unpaid Annual Bonus for any
calendar year ended prior to the Date of Termination and a prorated Target Bonus
for services to the Date of Termination, and (iii) any other vested benefits to
which the Executive is entitled, in each case to the extent not yet paid,
including, but not limited to accrued but unpaid vacation pay.

        (d) Cause; Voluntary Termination: If the Executive's employment is
terminated by the Company for Cause or the Executive voluntarily terminates his
employment during the Employment Period, the Company shall pay the Executive (i)
the Annual Base Salary through the Date of Termination (ii) the Annual Bonus for
any calendar year ended prior to the Date of Termination, and (iii) any other
vested benefits to which the Executive is entitled, in each case to the extent
not yet paid, including, but not limited to accrued but unpaid vacation pay and
the Company shall have no further obligations to the Executive under this
Agreement. A notice from Executive to the Company of his intention not to renew
the Agreement pursuant to paragraph 1 hereof shall not be considered a voluntary
termination under this subparagraph (d).

     6. Protection of Company Assets.

        (a) Trade Secret and Confidential Information. The Executive recognizes
and acknowledges that the acquisition and operation of, and the providing of
consulting services for, parking facilities is a unique enterprise and that
there are relatively few firms engaged in these businesses in the primary areas
in which the Parking Companies operates. Executive also acknowledges that he has
been instrumental in the development of the Parking Companies' ancillary
vertical businesses, including sweeping and scrubbing, security services and
commercial and residential property management services (hereinafter
collectively referred to as (the "Ancillary Services"). Executive further
recognizes and acknowledges that as a result of his employment with the Parking
Companies, the Executive has had and will continue to have access to
confidential information and trade secrets of the Parking Companies that
constitute proprietary information that the Parking Companies are entitled to
protect, which information constitutes special and unique assets of the Parking
Companies, including without limitation (i) information relating to the Parking
Companies' manner and methods of doing business, including without limitation,
strategies for negotiating leases and management agreements; (ii) the identity
of the Parking Companies' clients, customers, lessors and locations, and the
identity of any individuals or entities having an equity or other economic
interest in any of the Parking Companies to the extent such identity has not
otherwise been voluntarily disclosed by any of the Parking Companies; (iii) the
specific confidential terms of management agreements, leases, contracts for
Ancillary Services (individually hereinafter referred to as an "Ancillary
Service Contract"), or other business agreements, including without limitation
the duration of, and the fees, rent or other payments due thereunder; (iv) the
identities of beneficiaries under land trusts; (v) the business, developments,
activities or systems of the Parking Companies, including without limitation any
marketing or customer service oriented programs in the development stages or not
otherwise known to the general public; (vi) information concerning the business
affairs of any individual or firm doing business with the Parking Companies;
(vii) financial data and the operating expense structure pertaining to any
parking facility owned, operated, leased or managed by the Parking Companies or
for which the Parking Companies have or are providing Ancillary Services or
consulting services; and (viii) other confidential information and trade secrets
relating to the operation of the Company's business, including the Ancillary
Services (the matters described in this sentence hereafter referred to as the
"Trade Secret and Confidential Information").

                                       9
<PAGE>

        (b) Customer Relationships. The Executive understands and acknowledges
that the Company has expended significant resources over many years to identify,
develop, and maintain its clients. The Executive additionally acknowledges that
the Company's clients have had continuous and long-standing relationships with
the Company and that, as a result of these close, long-term relationships, the
Company possesses significant knowledge of its clients and their needs. Finally,
the Executive acknowledges the Executive's association and contact with these
clients is derived solely from his employment with the Company. The Executive
further acknowledges that the Company does business throughout the United States
and that the Executive personally has significant contact with the Company
customers solely as a result of his relationship with the Company.

        (c) Confidentiality. With respect to Trade Secret and Confidential
Information, and except as may be required by the lawful order of a court of
competent jurisdiction, the Executive agrees that he shall:

          (i) hold all Trade Secret and Confidential Information in strict
confidence and not publish or otherwise disclose any portion thereof to any
person whatsoever except with the prior written consent of the Company;

          (ii) use all reasonable precautions to assure that the Trade Secret
and Confidential Information are properly protected and kept from unauthorized
persons;

          (iii) make no use of any Trade Secret and Confidential Information
except as is required in the performance of his duties for the Company; and

                                       10
<PAGE>

          (iv) upon termination of his employment with the Company, whether
voluntary or involuntary and regardless of the reason or cause, or upon the
request of the Company, promptly return to the Company any and all documents,
and other things relating to any Trade Secret and Confidential Information, all
of which are and shall remain the sole property of the Company. The term
"documents" as used in the preceding sentence shall mean all forms of written or
recorded information and shall include, without limitation, all accounts,
budgets, compilations, computer records (including, but not limited to, computer
programs, software, disks, diskettes or any other electronic or magnetic storage
media), contracts, correspondence, data, diagrams, drawings, financial
statements, memoranda, microfilm or microfiche, notes, notebooks, marketing or
other plans, printed materials, records and reports, as well as any and all
copies, reproductions or summaries thereof.

          Notwithstanding the above, nothing contained herein shall restrict the
Executive from using, at any time after his termination of employment with the
Company, information which is in the public domain or knowledge acquired during
the course of his employment with the Company which is generally known to
persons of his experience in other companies in the same industry.

          (d) Assignment of Intellectual Property Rights. The Executive agrees
to assign to the Company any and all intellectual property rights including
patents, trademarks, copyright and business plans or systems developed, authored
or conceived by the Executive while so employed and relating to the business of
the Company, and the Executive agrees to cooperate with the Company's attorneys
to perfect ownership rights thereof in the Company or any one or more of the
Company. This agreement does not apply to an invention for which no equipment,
supplies, facility or Trade Secret and Confidential Information of the Company
was used and which was developed entirely on the Executive's own time, unless
(i) the invention relates either to the business of the Company or to actual or
demonstrably anticipated research or development of the Parking Companies, or
(ii) the invention results from any work performed by the Executive for the
Parking Companies.

          (e) Inevitable Disclosure. Based upon the Recitals to this Agreement
and the representations the Executive has made in paragraphs 6(a) and 6(b)
above, the Executive acknowledges that the Company's business is highly
competitive and that it derives significant value from both its Trade Secret and
Confidential Information not being generally known in the marketplace and from
their long-standing near-permanent customer relationships. Based upon this
acknowledgment and his acknowledgments in paragraphs 6(a) and 6(b), the
Executive further acknowledges that he inevitably would disclose the Company's
Trade Secret and Confidential Information, including trade secrets, should the
Executive serve as director, officer, manager, supervisor, consultant,
independent contractor, owner of greater than 1% of the stock, representative,
agent, or executive (where the Executive's duties as an employee would involve
any level of strategic, advisory, technical, creative sales, or other similar
input) for any person, partnership, joint venture, firm, corporation, or other
enterprise, which is a competitor of the Company engaged in providing parking
facility management services or the Ancillary Services because it would be
impossible for the Executive to serve in any of the above capacities for such a
competitor of the Company without using or disclosing the Company's Trade Secret
and Confidential Information, including trade secrets. The above acknowledgment
concerning inevitable disclosure is a rebuttable presumption. Executive may, in
particular circumstances, rebut the presumption by proving by clear and
convincing evidence that the Executive would not inevitably disclose trade
secret or confidential information were he to accept employment or otherwise act
in a capacity that would arguably violate this Agreement.

                                       11
<PAGE>

          (f) Non-Solicitation. The Executive agrees that while he is employed
by the Company and for a period of eighteen (18) months after the Date of
Termination, the Executive shall not, directly or indirectly:

            (i) without first obtaining the express written permission of the
Company's General Counsel which permission may be withheld solely in the
Company's discretion, directly or indirectly contact or solicit business from
any client or customer of the Company with whom the Executive had any contact or
about whom the Executive acquired any Trade Secret or Confidential Information
during his employment with the Company or about whom the Executive has acquired
any information as a result of his employment with the Company. Likewise, the
Executive shall not, without first obtaining the express written permission of
the Company's General Counsel which permission may be withheld solely in the
Company's discretion, directly or indirectly contact or solicit business from
any person responsible for referring business to the Company or who regularly
refers business to the Company with whom the Executive had any contact or about
whom the Executive acquired any Trade Secret or Confidential Information during
his employment with the Company or about whom the Executive has acquired any
information as a result of his employment with the Company. The Executive's
obligations set forth in this subparagraph are in addition to those obligations
and representations, including those regarding Trade Secret and Confidential
Information and inevitable disclosure of the Trade Secret and Confidential
Information of the Parking Companies set forth in Paragraph 6 of this Agreement;
or

            (ii) take any action to recruit or to assist in the recruiting or
solicitation for employment of any officer, employee or representative of the
Parking Companies.

            It is not the intention of the Company to interfere with the
employment opportunities of former employees except in those situations,
described above, in which such employment would conflict with the legitimate
interests of the Company. If the Executive, after the termination of his
employment hereunder, has any question regarding the applicability of the above
provisions to a potential employment opportunity, the Executive acknowledges
that it is his responsibility to contact the Company so that the Company may
inform the Executive of its position with respect to such opportunity.

          (g) Salary Continuation Payments. As additional consideration for the
representation and restrictions contained in this paragraph 6, the Company
agrees to pay Executive if Executive's termination occurs for any reason other
than Cause or due to Executive's termination pursuant to paragraph 5 (d)
("Voluntary Termination"), an amount equal to the Executive's annual salary for
up to eighteen (18) months (the "Salary Continuation Payments") following the
Date of Termination, payable in equal monthly or more frequent installments in
accordance with the Company's normal payroll practices then in effect. In the
event of a Voluntary Termination, the Salary Continuation Payments shall be
reduced to an amount equal to $50,000, payable over a 12-month period following
the Date of Termination in equal monthly installments. Notwithstanding anything
to the contrary in this Agreement, either expressly or by implication to the
contrary, Executive's notice of his intention not to renew this Agreement given
in the manner contemplated in paragraph 1 hereof shall not be deemed to be a
Voluntary Termination and, therefore, shall not reduce the amount of Executive's
Salary Continuation Payments. In the event Executive breaches this Agreement at
any time during the 18-month period following the Date of Termination, the
Company's obligation to continue any Salary Continuation Payments shall
immediately cease and Executive agrees to return to Company all Salary
Continuation Payments paid up to that time. The termination of Salary
Continuation Payments shall not waive any other rights at law or equity which
the Company may have against Executive by virtue of his breach of this
Agreement. The Company's obligation to make Severance Payments shall also cease
with respect to periods after Executive's death.

                                       12
<PAGE>

          (h) Remedies. The Executive acknowledges that the Company would be
irreparably injured by a violation of the covenants of this paragraph 6 and
agrees that the Company, or any one or more of the Parking Companies, in
addition to any other remedies available to it or them for such breach or
threatened breach, shall be entitled to a preliminary injunction, temporary
restraining order, or other equivalent relief, restraining the Executive from
any actual or threatened breach of any of the provisions of this paragraph 6. If
a bond is required to be posted in order for the Company or any one or more of
the Company to secure an injunction or other equitable remedy, the parties agree
that said bond need not exceed a nominal sum. This paragraph shall be applicable
regardless of the reason for the Executive's termination of employment, and
independent of any alleged action or alleged breach of any provision hereby by
the Company. If at any time any of the provisions of this paragraph 6 shall be
determined to be invalid or unenforceable by reason of being vague or
unreasonable as to duration, area, scope of activity or otherwise, then this
paragraph 6 shall be considered divisible (with the other provisions to remain
in full force and effect) and the invalid or unenforceable provisions shall
become and be deemed to be immediately amended to include only such time, area,
scope of activity and other restrictions, as shall be determined to be
reasonable and enforceable by the court or other body having jurisdiction over
the matter, and the Executive expressly agrees that this Agreement, as so
amended, shall be valid and binding as though any invalid or unenforceable
provision had not been included herein.

          (i) Attorneys' Fees. In the event of litigation in connection with or
concerning the subject matter of this Agreement, the prevailing party shall be
entitled to recover all costs and expenses of litigation incurred by it,
including attorneys' fees and, in the case of the Company, reasonable
compensation for the services of its internal personnel.

          (j) Permitted Activities. (i) Notwithstanding the foregoing, so long
as Executive complies with this paragraph 6(j), it shall not be considered a
violation of the provisions of paragraphs 6(e) or 6(f) above for the Executive
during the non-solicitation period (x) to own Permitted Investments, (y) to own
or sell any interest in the Permitted Investments or (z) to own or sell any
interest in any Permitted Real Estate. If any Permitted Investment or Permitted
Real Estate includes a parking facility or requires Ancillary Services, then the
Executive shall follow the procedures set forth in subsections (ii) and (iii)
below. In the case of (1) a parking facility or (2) property requiring Ancillary
Services in the Permitted Investment or Permitted Real Estate that, in either
case, is managed or leased by the Company or for which the Company is providing
Ancillary Services at any time, the Executive shall follow such procedures with
respect to any extension or renewal of any such management agreement, lease or
Ancillary Service Contract. In the case of a parking facility in the Permitted
Investment or Permitted Real Estate that is not being managed or leased by the
Company or for which Ancillary Services are not being provided by the Company at
the time D & E or the Executive acquires an interest in Permitted Real Estate or
Permitted Investment, the Executive shall follow such procedures at the time he
acquires the interest.

                                       13
<PAGE>

     (ii) In the case of any Permitted Investment or Permitted Real Estate
controlled by Executive or his Affiliates, the Executive shall initiate
negotiations with the Company in an attempt to determine mutually agreeable
terms upon which the Company will mange or lease the parking facility or provide
one or more of the Ancillary Services, failing which the Company shall have a
right of first refusal with respect to any management agreement, lease or
Ancillary Service Contract that may be negotiated with any independent
third-party parking operator or provider of any of the Ancillary Services.

     (iii) In the case of any Permitted Investment or Permitted Real Estate not
controlled by Executive, Executive shall use reasonable and good faith efforts
to cause the controlling person or entity to initiate negotiations with the
Company in an attempt to determine mutually agreeable terms pursuant to which
the Company would manage or lease the parking facility and/or provide Ancillary
Services.

     (iv) For purposes of this Agreement:

          a.   "Permitted Investments" shall mean Executive's ownership interest
               in D & E Parking, Inc, a California corporation ("D & E") and any
               investment or ownership interest of D & E, direct or indirect, in
               real property or commercial or residential rental property.

          b.   "Permitted Real Estate" shall mean any commercial or residential
               rental property owned, operated and/or managed, directly or
               indirectly, by Executive or his Affiliates.

          c.   "Affiliates" shall mean any member of Executive's family, any
               trust a principal beneficiary of which is the Executive or any
               such member of the Executive's family, and any person that
               directly, or through one or more intermediaries, is controlled by
               the Executive and/or one or more of such members of the
               Executive's family and/or one or more such trusts.

          d.   A person shall be considered to "control" any other person with
               respect to which the first person possess, directly or
               indirectly, the power to direct or cause the direction of
               management or policies (whether through ownership of securities
               or partnership or other ownership interests, by contract, by the
               terms of any trust agreement, or otherwise).

                                       14
<PAGE>

     7. Severability. The invalidity or unenforceability of any provision of
this Agreement will not affect the validity or enforceability of any other
provision of this Agreement, and this Agreement will be construed as if such
invalid or unenforceable provision were omitted (but only to the extent that
such provision cannot be appropriately reformed or modified).

     8. Notices. Any notice which any party shall be required or shall desire to
serve upon the other shall be in writing and shall be delivered personally or
sent by registered or certified mail, postage prepaid, or sent by facsimile or
prepaid overnight courier, to the parties at the addresses set forth below (or
such other addresses as shall be specified by the parties by like notice):

          In the case of Executive to:       Edward E. Simmons
                                             3190 Mountain Park Drive
                                             Calabasas, California 91302

          In the case of the Company to:     Standard Parking Corporation
                                             900 North Michigan Avenue
                                             Suite 1600
                                             Chicago, Illinois 60611
                                             Attention: General Counsel

     9. Applicable Law; Submission to Jurisdiction. This Agreement shall be
construed in accordance with the laws and decisions of the State of Illinois in
the same manner applicable to contracts made and to be performed entirely within
the State of Illinois and without regard to the conflict of law provisions
thereof. Executive and the Company agree to submit himself and itself, as
applicable, to the non-exclusive general jurisdiction of any United States
federal or Illinois state court sitting in Chicago, Illinois and appellate
courts thereof, in any legal action or proceeding relating to this Agreement or
Executive's employment with the Company.

     10. Nonalienation. The interests of the Executive under this Agreement are
not subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment, or garnishment by creditors of the
Executive or the Executive's beneficiary.

     11. Amendment. This Agreement may be amended or cancelled only by mutual
agreement of the parties in writing without the consent of any other person.

     12. Waiver of Breach. No waiver by any party hereto of a breach of any
provision of this Agreement by any other party, or of compliance with any
condition or provision of this Agreement to be performed by such other party,
will operate or be construed as a waiver of any subsequent breach by such other
party or any similar or dissimilar provisions and conditions at the same or any
prior or subsequent time. The failure of any party hereto to take any action by
reason of such breach will not deprive such party of the right to take action at
any time while such breach continues.

                                       15
<PAGE>

     13. Successors. This Agreement shall be binding upon, and inure to the
benefit of, the Company and its successors and assigns and upon any person
acquiring, whether by merger, consolidation, purchase of assets or otherwise, of
all or substantially all of the Company's assets and business. The Executive's
duties hereunder are personal and may not be assigned.

     14. Entire Agreement. Except as otherwise noted herein, this Agreement,
constitutes the entire agreement between the parties concerning the subject
matter hereof and supersedes all prior and contemporaneous agreements and
understandings, either oral or in writing, if any, between the parties relating
to the subject matter hereof.

     15. Acknowledgement by Executive. The Executive has read and fully
understands the terms and conditions set forth herein, has had time to reflect
on and consider the benefits and consequences of entering into this Agreement
and has had the opportunity to review the terms hereof with an attorney or other
representative, if he so chooses. The Executive has executed and delivered this
Agreement as his free and voluntary act, after having determined that the
provisions contained herein are of a material benefit to him, and that the
duties and obligations imposed on him hereunder are fair and reasonable and will
not prevent him from earning a livelihood following the Date of Termination.

     IN WITNESS WHEREOF, the Executive and the Company have executed this
Agreement as of the day and year first written above.

                                       STANDARD PARKING CORPORATION

                                       By:_____________________________
                                           James A. Wilhelm
                                           President and Chief Executive Officer

                                       EXECUTIVE:

                                       --------------------------------
                                       Edward E. Simmons

                                       16

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