Document:

Exhibit
      10.1

    

    Manhattan
      Pharmaceuticals, Inc.

    Non-employee
      Director 

    Compensation
      Arrangement

     

     

    The
      following is a summary of the compensation arrangements for directors of
      Manhattan Pharmaceuticals, Inc. (the “Company”) who are not employees of the
      Company (“Non-employee Directors”). Directors who are employees of the Company
      do not receive compensation for their service on the Board and shall receive
      compensation only in their capacities as employees. The cash compensation
      arrangements are summarized below and do not become effective until the
      Company’s next completed financing transaction: 

     

    
      	
              1.

            	
              Cash
                Fees.
                Each Non-employee Director shall be entitled to a retainer of $20,000
                per
                year, payable on a quarterly basis. In addition, each such director
                shall
                be entitled to a fee of $1,000 for each meeting of the Board attended
                in
                person, or $500 for attending a meeting by telephone or other electronic
                means.

            

    

    

    
      	
              2.

            	
              Committee
                Service.
                Each Non-employee Director serving on a committee of the Board shall
                be
                entitled to a fee of $1,000 for each meeting of such committee attended
                by
                such director in person, or $500 for attending a committee meeting
                by
                telephone or other electronic
                means.

            

    

    

    
      	
              3.

            	
              Stock
                Option.
                Non-employee Director shall be entitled to receive an annual grant
                of a
                10-year stock option to purchase 50,000 shares of the Company’s common
                stock, pursuant to the 2003 Stock Option Plan or such other equity
                incentive plan approved by the Company’s stockholders. Such option shall
                be exercisable in three equal annual installments commencing on the
                first
                anniversary of the grant date.

            

    

    

    
      	
              4.

            	
              Expenses.
                Non-employee Directors shall be entitled to reimbursement for their
                reasonable out-of-pocket expenses incurred in connection with the
                performance of their services as directors, including without limitation,
                travel related expenses incurred in connection with their attendance
                at
                Board or Board committee meetings.AGREEMENT

    

    AGREEMENT
      (this
“Agreement”)
      dated
      as of December 31, 2006 by and among Solomon Technologies, Inc., a
      Delaware corporation (the “Company”),
      Woodlaken LLC (“Woodlaken”),
      Jezebel Management Corporation (“Jezebel”),
      Pinetree (Barbados) Inc. (“Pinetree”),
      Coady
      Family LLC (“Coady”),
      F.
      Jay Leonard (“Leonard”),
      Peter
      and Barbara Carpenter (“Carpenter”),
      Pascal Partners, LLC (“Pascal”),
      Steven Kilponen (“Kilponen”)
      and
      Millennium Trust Co. LLC Custodian FBO Joseph Cooper Rollover IRA 90M020013
      (“Cooper,”
and
      together with Woodlaken, Jezebel, Pinetree, Coady, Leonard, Carpenter, Pascal
      and Kilponen, the “Investors”).

    

    W
      I
      T
      N
      E
      S
      S
      E
      T
      H:

    

    WHEREAS,
      the
      Company has sold $1,712,085 aggregate principal amount of Senior Secured
      Promissory Notes to the Investors in the amounts set forth on Schedule 1 (the
      “Notes”);
      

    

    WHEREAS,
      the
      maturity date of each of the Notes is January 15, 2007; 

    

    WHEREAS,
      the
      Investors and the Company now wish to amend the Notes to extend their maturity
      date to September 30, 2007;
      and

    

    WHEREAS,
      in
      consideration of each Investor’s willingness to extend the maturity of the
      Notes, the Company intends to compensate each of the Investors, at the
      Investor’s option, by either (i) issuing shares of common stock of the Company,
      par value $.001 per share (“Common
      Stock”),
      in an
      amount equal to 10,000 shares for each $100,000 in principal amount of Notes,
      or
      fraction thereof, held by such Investor or (ii) paying such Investor an amount
      in cash equal to 5% of the principal amount of Notes, or fraction thereof,
      held
      by such Investor in lieu of such shares.

    

    NOW,
      THEREFORE,
      in
      consideration of the premises and the mutual covenants and agreements contained
      herein and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto, intending
      to
      be legally bound, hereby agree as follows:

    

    1. AMENDMENT
      OF NOTES.
      

    

    1.1. Extension
      of Maturity Date.
      Each of
      the Notes is hereby amended by striking the maturity date of January 15, 2007
      and substituting therefor a new maturity date of September 30,
      2007.

    

    1.2. Full
      Force and Effect.
      Except
      as amended hereby, the terms of the Notes, as previously amended, remain in
      full
      force and effect.

    

    2. Issuance
      of Common Stock.
      Promptly upon execution of this Agreement by the Investors, and in consideration
      thereof, and upon receipt by the Company of investment representation
      certificates and accredited investor questionnaires from those Investors who
      have not previously provided copies of such documents to the Company, the
      Company shall, at each Investor’s option, (i) cause its transfer agent to issue
      new shares of Common Stock to such Investor in an amount equal to 10,000 shares
      of Common Stock for each $100,000 in principal amount of Notes, or fraction
      thereof, held by such Investor, or (ii) pay an amount in cash equal to 5% of
      the
      principal amount of Notes, or fraction thereof, held by such Investor in lieu
      of
      such shares.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    3. MISCELLANEOUS.

    

    3.1. Law
      Applicable.
      This
      Agreement shall be governed by and construed pursuant to the laws of the State
      of New York, without giving effect to conflicts of laws principles.

    

    3.2. Counterparts.
      This
      Agreement may be executed in counterparts, each of which shall be an original,
      but all of which together shall constitute one and the same instrument and
      it
      shall not be necessary in making proof of this Agreement to account for all
      such
      counterparts.

    

    [Signatures
      appear on following pages]

    
       

      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF,
      the
      undersigned have hereunto set their hands to this Agreement as of the day and
      year first above written.

     

    
      	 	
              COMPANY:

              

              SOLOMON
                TECHNOLOGIES, INC.

              

               

              By:                                                                          

              Name:
                Peter W. DeVecchis, Jr.

              Title:
                President

              

              WOODLAKEN
                LLC

              

              

              By:                                                                          

              Name:
                Gary M. Laskowski 

              Title:
                Manager 

              

              

              JEZEBEL
                MANAGEMENT CORPORATION

              

              

              By:                                                                          

              Name:
                Michael A. D’Amelio 

              Title:
                President 

              

              

              PINETREE
                (BARBADOS) INC.

              

              

              By:                                                                          

              Name:
                J. Gordon Murphy

              Title:
                President

              

              

              COADY
                FAMILY LLC

              

              

              By:                                                                          

              Name:
                Patrick
                D. Coady

              Title:
                Manager

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

      	 	
              

                                                                                       

              F.
                Jay Leonard

              

              

               

                                                                                       

              Peter
                Carpenter

              

              

               

              Barbara
                Carpenter

              

              

              PASCAL
                PARTNERS, LLC

              

              

              By:                                                                          

              Name:
                Nick
                Marinella

              Title:
                Managing Member

              

              

                                                                                       

              Steven
                Kilponen 

              

              

              Millennium
                Trust Co. LLC Custodian 

              FBO
                Joseph Cooper Rollover IRA 90M020013

              

              

              By:                                                                          

              Name:

              Title:

            

    

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    SCHEDULE
      1

    

    Senior
      Notes

    
      	 	 	 	 	 	 
	
              Name
                of Investor

            	 	
              Date
                Issued

            	 	
              Principal
                Amount

            	 
	
              Woodlaken
                LLC

            	 	 	
              March
                7, 2005

            	 	
              $

            	
              40,000.00
                

            	 
	
              Jezebel
                Management Corporation

            	 	 	
              March
                16, 2005

            	 	
              $

            	
              100,000.00

            	 
	
              Pinetree
                (Barbados) Inc.

            	 	 	
              April
                1, 2005

            	 	
              $

            	
              50,000.00

            	 
	
              Woodlaken
                LLC

            	 	 	
              April
                1, 2005

            	 	
              $

            	
              10,000.00
                

            	 
	
              Jezebel
                Management Corporation

            	 	 	
              April
                18, 2005

            	 	
              $

            	
              75,000.00

            	 
	
              Coady
                Family LLC

            	 	 	
              May
                25, 2005

            	 	
              $

            	
              100,000.00

            	 
	
              Jezebel
                Management Corporation

            	 	 	
              July
                8, 2005

            	 	
              $

            	
              75,000.00

            	 
	
              Jezebel
                Management Corporation

            	 	 	
              August
                16, 2005

            	 	
              $

            	
              150,000.00

            	 
	
              Jezebel
                Management Corporation

            	 	 	
              September
                15, 2005

            	 	
              $

            	
              150,000.00

            	 
	
              Jezebel
                Management Corporation

            	 	 	
              November
                18, 2005

            	 	
              $

            	
              100,000.00

            	 
	
              Pinetree
                (Barbados) Inc.

            	 	 	
              November
                18, 2005

            	 	
              $

            	
              100,000.00

            	 
	
              F.
                Jay Leonard

            	 	 	
              March
                20, 2006

            	 	
              $

            	
              25,000.00

            	 
	
              Woodlaken
                LLC

            	 	 	
              March
                31, 2006

            	 	
              $

            	
              72,000.00

            	 
	
              Peter
                and Barbara Carpenter

            	 	 	
              April
                7, 2006

            	 	
              $

            	
              100,000.00

            	 
	
              Pascal
                Partners, LLC

            	 	 	
              April
                10, 2006

            	 	
              $

            	
              100,000.00

            	 
	
              Coady
                Family LLC

            	 	 	
              May
                23, 2006

            	 	
              $

            	
              200,000.00

            	 
	
              Steven
                Kilponen

            	 	 	
              June
                13, 2006

            	 	
              $

            	
              25,000.00

            	 
	
              Millennium
                Trust Co. LLC Custodian FBO Joseph Cooper Rollover IRA
                90M020013

            	 	 	
              July
                3, 2006

            	 	
              $

            	
              100,000.00

            	 
	
              F.
                Jay Leonard

            	 	 	
              October
                13, 2006

            	 	
              $

            	
              25,000.00

            	 
	
              Millennium
                Trust Co. LLC Custodian FBO Joseph Cooper Rollover IRA
                90M020013

            	 	 	
              October
                13, 2006

            	 	
              $

            	
              85,000.00

            	 
	
              [Steven
                Kilponen

            	 	 	
              October
                31, 2006

            	 	
              $

            	
              30,085.00

            	] 
	
              Total

            	 	 	 	 	
              $

            	
              1,712,085.00

            	 

    

    

    

    
      
        
        

      

      
        5

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