Document:

Exhibit 10.1

 

RURBAN
FINANCIAL CORP. and AffiliateS

LONG-TERM
INCENTIVE COMPENSATION Plan

 

		I.	PLAN OBJECTIVES

 

The purposes of this Plan are to: (a) increase
Company performance and shareholder return; (b) link executive interests with those of shareholders; (c) create executive ownership;
and (d) provide a valuable retention tool for top executives and high performing officers. The Company will achieve these purposes
by granting those individuals who become Participants with the opportunity to earn Awards based on the achievement of pre-established
performance objectives. Nothing in this Plan is intended to limit or restrict the right of the Company to grant discretionary awards
consisting of cash or equity to any individuals, regardless of whether they are also a Participant in this Plan.

 

		II.	GRANTING AWARDS

 

		(a)	Eligibility. The Company’s Named Executive Officers shall be Participants in the Plan
with respect to each Plan Year. The Compensation Committee, in its sole discretion, may select any other individual who holds the
position of Senior Vice President or higher to be a Participant for any Plan Year. Except with respect to the Named Executive Officers,
selection for participation for any Plan Year shall not confer any right to participation in any subsequent Plan Year.

 

		(b)	Selection of Performance Objectives. For each Plan Year, the Compensation Committee shall
approve or establish:

 

		(i)	The individuals who are eligible to be Participants (which may include individuals employed or
hired into certain positions during the Plan Year);

 

		(ii)	Performance objectives based on the Performance Criteria described in Section VIII of the Plan
that shall be used to determine the amount payable with respect to Awards;

 

		(iii)	The requisite level of achievement (which may include “threshold”, “target”
and “maximum” levels) of such performance objectives;

 

		(iv)	The method for determining the amount payable based on the achievement of the performance objectives;
and

 

		(v)	Any other terms and conditions of the Award, including, without limitation, a requirement that
some portion of the Award be payable in the form of equity or that payment be deferred or that the Award be contingent upon compliance
with covenants relating to non-competition, non-solicitation, confidentiality or otherwise.

 

    	 

    	 	

    
 

Different Performance Criteria
may be applied to individual Participants or to groups of Participants and, as specified by the Compensation Committee, may relate
to the individual Participant, the Company, one or more Affiliates, or one or more of their respective divisions or business units,
or any combination of the foregoing, and may be applied on an absolute basis and/or be relative to one or more peer group companies
or indices, or any combination thereof, in each case, as determined by the Compensation Committee in its sole discretion.

 

		(c)	Timing. The Compensation Committee shall establish the performance objectives, the level
of achievement and the method for determining the amount payable with respect to Awards before the outcome of such performance
objectives is substantially certain for such Plan Year.

 

		(d)	Communication to Participants. Participants shall receive a written or electronic communication
from the Company describing how an Award for a Plan Year may be earned.

 

		(e)	Newly Eligible Participants. Individuals are hired or promoted into an eligible position
must be employed in such position by July 1 of a given Plan Year in order to be eligible to receive an Award for such Plan Year.
The Award of such individuals shall be prorated based on the percentage of days the individual is employed by the Company or an
Affiliate during the Plan Year. Individuals hired or promoted into an eligible position on or after July 1 of a given Plan Year
shall not be eligible to receive an Award with respect to such Plan Year.

 

		(f)	Modifying Performance Objectives. Performance objectives relating to Awards may be calculated
without regard to extraordinary items or adjusted, as the Compensation Committee deems equitable, in recognition of unusual or
non-recurring events affecting the Company and/or its Affiliates or changes in applicable tax laws or accounting principles.

 

		III.	PAYMENT OF AWARDS

 

		(a)	Determination of Amount Payable. For each Plan Year, the Compensation Committee shall determine
the extent to which the performance objectives and other terms and conditions applicable to an Award have been achieved, if at
all, and based on this determination, certify the amount earned with respect to each Award. Payment of the earned Award shall be
made within two and one-half months following the end of the relevant Plan Year.

 

		(b)	Eligibility for Payment. Except as otherwise determined by the Committee, in order to receive
payment with respect to an Award, a Participant must: 

 

		(i)	Have achieved a satisfactory performance level for the relevant Plan Year; and

 

		(ii)	Except as otherwise provided herein, remain an active employee of the Company or an Affiliate on
the date that payment is made.

 

    	 

    	 	

    

 

		(c)	Effect of Death, Disability or Retirement. Except as otherwise determined by the Committee
at the time an Award is granted or thereafter, if a Participant dies, becomes Disabled or Retires prior to the date on which an
Award is paid, the Participant’s shall remain eligible for payment with respect to that Award; however, the amount payable
with respect to such Award shall be prorated based on the percentage of days the during the relevant Plan Year prior to the date
of death, Disability or Retirement.

 

		(d)	Negative Discretion. In the sole discretion of the Compensation Committee or Board, the
amount actually paid with respect to an Award to a Participant may be less than the amount otherwise payable based on the satisfaction
of the performance objectives and other terms and conditions of such Award.

 

		IV.	ADMINISTRATION

 

The Plan shall be administered by the Compensation
Committee, which has full power and authority, to the extent not inconsistent with this Plan, to: (a) approve or select Participants
(other than the Named Executive Officers); (b) establish performance objectives, the amount payable and any other terms and
conditions with respect to Awards; (c) make any other determinations that the Compensation Committee deems necessary or desirable
for the administration of the Plan; and (d) to delegate its administrative duties to one or more persons. The Compensation Committee
may correct any defect, supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Compensation
Committee deems necessary or desirable. Any decision of the Compensation Committee in the interpretation and administration of
the Plan shall be made in the Compensation Committee’s sole discretion and shall be final, conclusive and binding on all
persons.

 

The Compensation Committee (and any delegate)
shall be indemnified and saved harmless by the Company from and against all personal liability to which it may be subject by reason
of any act done or omitted to be done in its official capacity as administrator in good faith in the administration of the Plan,
including all expenses reasonably incurred in its defense in the event the Company fails to provide such defense upon the request
of the Compensation Committee.

 

		V.	AMENDMENT AND ADMINISTRATION OF THE PLAN

 

The Plan may be terminated or amended by
the Compensation Committee at any time without the consent of any Participant.

 

		VI.	CLAWBACK

 

Awards under this Plan are subject to recoupment
by the Company in the event that the Company is required to issue an accounting restatement due to material noncompliance with
any financial reporting required under applicable law. Prior to seeking recoupment of any Award, the Compensation Committee shall
consider all relevant factors and exercise business judgment in determining appropriate amounts to recoup as well as the time and
form of recoupment.

 

    	 

    	 	

    
 

 

		VII.	MISCELLANEOUS

 

		(a)	No Guarantee of Employment. This Plan is not an employment policy or contract. It does not
give any Participant the right to remain an employee of the Company or an Affiliate, nor does it interfere with the Company’s
or an Affiliate’s right to terminate the Participant, with or without cause, which right is expressly reserved.

 

		(b)	Non-Transferability. The rights of Participants under this Plan cannot be sold, transferred,
assigned, pledged, attached or encumbered in any manner.

 

		(c)	Applicable Law. The Plan and all rights hereunder shall be governed by the laws of the State
of Ohio, without regard to any conflicts of laws principles.

 

		(d)	Entire Plan. This Plan (including any written or electronic communication to a Participant
setting forth the terms and conditions of an Award for a Plan Year) constitutes the entire agreement between the Company and the
Participant as to the subject matter hereof. No rights are granted to the Participant by virtue of this Plan other than those specifically
set forth herein.

 

		(e)	Tax Withholding. The Company or an Affiliate, as applicable, shall have the power and the
right to deduct, withhold or collect any amount required by law or regulation to be withheld with respect to any taxable event
arising with respect to an Award granted under the Plan.

 

		VIII.	DEFINITIONS

 

		(a)	Affiliate means any entity that, along with the Company, would be treated as a single employer
for purposes of Sections 414(b) or 414(c) of the Code, but modified under any Code section relevant to the purpose for which the
definition is applied.

 

		(b)	Award means the right to a payment of compensation based on the achievement of performance
objectives established by the Compensation Committee as described in this Plan.

 

		(c)	Board means the Company’s board of directors as constituted from time to time.

 

		(d)	Company means Rurban Financial Corp. and any successor.

 

		(e)	Compensation Committee means the compensation committee of the Board.

 

		(f)	Disability means a Participant’s eligibility for benefits under the Company’s
long-term disability plan.

 

		(g)	Named Executive Officers means, with respect to any Plan Year, the Company’s “named
executive officers” as described in Rule 402 promulgated under the Securities Exchange Act of 1934.

 

    	 

    	 	

    
 

 

		(h)	Participant means, with respect to each Plan Year, the Named Executive Officers and any
other individual who is selected for participation in this Plan by the Compensation Committee. Nothing in the foregoing is intended
to prohibit a Participant in this Plan from receiving awards of cash or equity pursuant to the terms and conditions of any other
formal or informal compensation plan maintained by the Company for any Plan Year.

 

		(i)	Performance Criteria means: (a) revenue; (b) income (including, but not limited to, net
earnings, net income, before or after taxes, interest income, non-interest income and fee income); (c) earnings per share; (d)
loan, deposit, new market or asset growth; (e) return measures (including return on assets and equity); (f) tangible equity; (g)
economic profit added; (h) earnings before or after taxes, interest, depreciation and/or amortization; (i) interest spread; (j)
productivity ratios; (k) share price (including, but not limited to, growth measures and total shareholder return); (l) expense
targets; (m) credit quality; (n) efficiency ratio; (o) market share; (p) customer satisfaction; (q) asset quality measures (including,
but not limited to, non-performing assets, classified assets, Texas Ratio, ALLL etc.; (r) capitalization (including, but not limited
to, Tier 1 capital); (s) net income after cost of capital (NIACC); (t) strategic objectives (including, branding, mergers and acquisitions,
succession management, dynamic market response, new product build out, expense reduction initiatives, risk management); (u) regulatory
compliance; or (v) such other measures as the Committee may select from time to time.

 

		(j)	Plan means this Rurban Financial Corp. and Affiliates Long-Term Incentive Compensation Plan,
as it may be amended from time to time.

 

		(k)	Plan Year means, unless a different period is established by the Compensation Committee,
each 12 month period beginning January 1.

 

		(l)	Retires means a Participant’s termination in accordance with the official retirement
policies of the Company.EXHIBIT 4.2

 

WARRANT TO PURCHASE

SHARES OF COMMON STOCK OF

EUROSITE POWER INC.

 

 

 

Key Terms/Definitions:

 

	Company	EuroSite Power Inc.
	Holder	 
	 	 
	Common stock	Common stock, $.001 par value per share, of the Company
	Warrant Shares (Number of shares of Common stock issuable on exercise of Warrant, subject to adjustment)	_____________shares
	Exercise Price per share of Common stock (subject to adjustment)	$1.00
	Expiration Date	_____________, 2013
	Securities Act	U.S. Securities Act of 1933 and the regulations thereunder

 

THIS IS TO CERTIFY that, for value received
and subject to the provisions hereinafter set forth, the Holder, or permitted assigns, is entitled to purchase from the Company
at any time on or after the date hereof and on or before the Expiration Date the number of Warrant Shares set forth in the table
above, subject to the terms, provisions and conditions hereinafter set forth, at the Exercise Price per share.

 

SECTION 1.          EXERCISE
OF WARRANT

 

This Warrant may be exercised in whole or
in part at any time by the surrender of this Warrant (with the Notice of Exercise at the end hereof duly completed and executed)
at the principal office of the Company and upon payment to the Company of the aggregate Exercise Price for the shares being purchased.
Tender of the price paid to purchase this Warrant shall be made by delivery of
a personal or bank check payable to the Company or by wire transfer to the Company’s designated bank account, together with
the executed copy of this Warrant. Notwithstanding any other provision hereof, if an exercise of any portion of this Warrant
is to be made in connection with a sale of the Company, the exercise of any portion of this Warrant may, at the election of the
Holder, be conditioned upon the consummation of the sale of the Company, in which case such exercise shall not be deemed to be
effective concurrently with the consummation of such transaction.

 

If this Warrant is exercised in respect
of less than all of the Warrant Shares at the time purchasable hereunder, the Holder shall be entitled to receive a new Warrant
of like tenor to this Warrant covering the number of shares in respect of which this Warrant shall not have been exercised.

 

Certificates for shares purchased hereunder
shall be transmitted by Continental Stock Transfer and Trust Company or another transfer agent appointed by the Company (the “Transfer
Agent”) to the Holder by crediting the account of the Holder’s prime broker with the Depository Trust Company through
its Deposit Withdrawal Agent Commission (“DWAC”) system if the Company is then a participant in such system
and there is an effective Registration Statement covering the exercise of the Warrant or permitting the resale of the Warrant Shares
by the Holder, and otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise within five
days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant (if required) and payment of the
aggregate Exercise Price as set forth above (the “Warrant Share Delivery Date”). This Warrant shall be deemed
to have been exercised on the date the Exercise Price is received by the Company. The Warrant Shares shall be deemed to have been
issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such
shares for all purposes, as of the date the Warrant has been exercised by payment to the Company of the Exercise Price and all
taxes required to be paid by the Holder, if any, prior to the issuance of such shares, have been paid.

 

If the Company fails to cause the Transfer
Agent to transmit to the Holder a certificate or the certificates representing the Warrant Shares by the Warrant Share Delivery
Date, then the Holder will have the right to rescind such exercise.

 

This Warrant and all rights and options
hereunder shall expire on the Expiration Date (as the same may be modified as provided herein), and shall be wholly null and void
to the extent this Warrant is not exercised before it expires.

 

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SECTION 2.          RESERVATION

 

The Company will at all times prior to the
Expiration Date reserve and keep available such number of authorized shares of its Common stock solely for the purpose of issuance
upon the exercise of the rights represented by this Warrant as herein provided for, as may at any time be issuable upon the exercise
of this Warrant.

 

SECTION 3.          STOCK
DIVIDENDS, ETC.

 

The per share Exercise Price and the number
of shares deliverable hereunder shall be adjusted as hereinafter set forth:

 

Section 3.1. Stock Dividends, Subdivisions
and Combinations. In case after the date hereof the Company shall:

 

(a)          take
a record of the holders of its Common stock for the purpose of entitling them to receive a dividend payable in, or other distribution
of, Common stock, or

 

(b)          subdivide
its outstanding shares of Common stock into a larger number of shares of Common stock, or

 

(c)          combine
its outstanding shares of Common stock into a smaller number of shares of Common stock,

 

then the per share Exercise Price shall be adjusted, for the
purpose of preserving the economic value of this Warrant, to the price determined by multiplying the per share Exercise Price in
effect immediately prior to such subdivision or combination or the taking of a record of holders in respect of such payment or
distribution, as the case may be (each, a “Triggering Event”) by a fraction (i) the numerator of which shall
be the total number of outstanding shares of Common stock of the Company immediately prior to such Triggering Event, and (ii) the
denominator of which shall be the total number of outstanding shares of Common stock of the Company immediately after such Triggering
Event.

 

Section 3.2.          Adjustment
of Number of Shares Purchasable. Upon each adjustment of the per share Exercise Price, the number of shares of Common stock
subsequently purchasable hereunder shall be an amount equal to the quotient derived by dividing the aggregate Exercise Price in
effect immediately before such adjustment by the per share Exercise Price in effect immediately following such adjustment or readjustment.

 

Section 3.3.          Notice
of Adjustments. Whenever the per share Exercise Price or number of shares deliverable upon exercise of this Warrant shall be
adjusted pursuant to this Section 3, the Company shall promptly prepare a certificate signed by an officer of the Company setting
forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment
was calculated (including a description of the basis on which the Board of Directors of the Company made any determination hereunder),
and shall promptly cause copies of such certificate to be mailed (by first class mail, postage prepaid) to the Holder.

 

SECTION 4.          MERGERS,
CONSOLIDATIONS, SALES

 

In the case of any consolidation or merger
of the Company with another entity (regardless of whether the Company is the surviving entity), or the sale of all or substantially
all of its assets to another entity, or any reorganization or reclassification of the Common stock or other equity securities of
the Company, then, as a condition of such consolidation, merger, sale, reorganization or reclassification, lawful and adequate
provision shall be made whereby the Holder shall thereafter have the right to receive upon the basis and upon the terms and conditions
specified herein and in lieu of the Warrant Shares immediately theretofore purchasable hereunder, such shares of stock, securities
or assets (including, without limitation, cash), if any, as may (by virtue of such consolidation, merger, sale, reorganization
or reclassification) be issued or payable with respect to or in exchange for a number of outstanding shares of Common stock equal
to the number of shares of Common stock immediately theretofore so purchasable hereunder had such consolidation, merger, sale,
reorganization or reclassification not taken place, and in any such case appropriate provisions shall be made with respect to the
rights and interests of the Holder to the end that the provisions hereof shall thereafter be applicable, as nearly as may be, in
relation to any shares of stock, securities or assets thereafter deliverable upon exercise of this Warrant. The Company shall not
effect any such consolidation, merger or sale unless (a) the Company provides the holder hereof with not less than 10 days prior
written notice of such consolidation, merger or sale (provided that the failure to give such notice shall not affect the validity
of such corporate event), and (b) prior to the consummation thereof, the successor entity (if other than the Company) resulting
from consolidation or merger or the entity purchasing such assets assumes, by written instrument, the obligation to deliver to
each such holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such holder may be
entitled to acquire.

 

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SECTION 5.          DISSOLUTION
OR LIQUIDATION

 

If the Company declares or pays a dividend
upon the Common stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally
accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common stock (a “Liquidating
Dividend”), then the Company shall pay to the Holder at the time of payment thereof the Liquidating Dividend which would
have been paid to such holder on the Common stock had this Warrant been fully exercised immediately prior to the date on which
a record is taken for such Liquidating Dividend, or, if no record is taken, the date as of which the record holders of Common stock
entitled to such dividends are to be determined; provided, however, that if the Liquidating Dividend is payable in connection with
the complete liquidation of the Company, the Liquidating Dividend shall be reduced by the amount of the Exercise Price.

 

SECTION 6.          NOTICE
OF DIVIDENDS

 

If the Board of Directors of the Company
shall declare any dividend or other distribution on any class of its Common stock except by way of a stock dividend payable in
Common stock on its Common stock, the Company shall mail notice thereof to the Holder not less than 10 days prior to the record
date fixed for determining shareholders entitled to participate in such dividend or other distribution.

 

SECTION 7.          NO
FRACTIONAL SHARES

 

No fractional shares shall be issued upon
the exercise of this Warrant under any circumstances.

 

SECTION 8.          FULLY
PAID STOCK

 

The Company covenants and agrees to take
all such actions necessary to ensure that the shares of stock represented by each and every certificate for its Common stock to
be delivered on the exercise of the purchase rights herein provided for shall, at the time of such delivery, be validly issued
and outstanding and be fully paid and nonassessable. In addition, the Company shall take all such actions as may be necessary to
ensure that all such shares of Common stock may be so issued without violation of any applicable law or governmental regulation
or any requirements of any trading market or securities exchange upon which shares of Common stock may be listed.

 

SECTION 9.          EXERCISE
AND TRANSFERABILITY OF WARRANTS AND SHARES

 

Notwithstanding anything contained in this
Warrant to the contrary, the terms and provisions of this Section 9 of this Warrant remain in full force and effect at all times
and shall survive the Expiration Date.

 

Section 9.1.          In
General. This Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant at the
principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the
form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable
upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new
Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified
in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned,
and this Warrant shall promptly be cancelled. The Warrant, if properly assigned, may be exercised by a new holder for the purchase
of Warrant Shares without having a new Warrant issued.

 

Section 9.2.          New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 9.1, as to any transfer which may be involved in such division
or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided
or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the original issue date
and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

Section 9.3.          Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose, in the name
of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute
owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual
notice to the contrary.

 

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Section 9.4.          Securities
Act Compliance. If at any time a registration statement under the Securities Act is not effective or is not otherwise available
for the exercise of this Warrant or the sale, resale or transfer of this Warrant or the Warrant Shares, the Company shall immediately
notify the Holder of this Warrant in writing that such registration statement is not then effective. In such event, the Company
may require the Holder of this Warrant or the proposed transferee of this Warrant, as a condition to the sale, resale or transfer
of this Warrant or the Warrant Shares, to execute such investment representations and other documents that the Company determines
are necessary to ensure compliance with the Securities Act. Thereafter, the Company shall promptly notify the Holder when such
a registration statement is effective and available for such purposes. The Company shall use best efforts to keep a registration
statement effective registering the issuance or resale of the Warrant Shares at all times that there are Warrants outstanding,
unless all of the Warrant Shares may be resold without restriction under the Securities Act.

 

SECTION 10.        PARTIAL
EXERCISE

 

If this Warrant is exercised in part only,
the holder hereof shall be entitled to receive a new Warrant covering the number of Warrant Shares in respect of which this Warrant
shall not have been exercised as provided in Section 1.

 

SECTION 11.        WARRANT DENOMINATIONS

 

Warrants are issuable or transferable in
the denomination of 1,000 Warrant Shares or any integral multiple thereof (as nearly as may be practicable and subject to required
adjustments hereunder), and the Warrants of each denomination are interchangeable upon surrender thereof at the office of the Company
for Warrants of other denominations, but aggregating the same number of Warrant Shares as the Warrants so surrendered. All Warrants
will be dated the same date as this Warrant.

 

SECTION 12.        LOST,
STOLEN WARRANTS, ETC.

 

In case this Warrant shall be mutilated,
lost, stolen or destroyed, the Company may issue a new Warrant of like date, tenor and denomination and deliver the same in exchange
and substitution for and upon surrender and cancellation of the mutilated Warrant, or in lieu of the Warrant lost, stolen or destroyed,
upon receipt of evidence satisfactory to the Company of the loss, theft or destruction of such Warrant, and upon receipt of indemnity
satisfactory to the Company. All warrants hereafter issued in exchange or substitution for this Warrant shall be substantially
in the form hereof.

 

SECTION 13.        WARRANT
HOLDER RIGHTS

 

This Warrant does not confer upon the holder
hereof any right to vote or to consent or to receive notice as a shareholder of the Company, as such, in respect of any matters
whatsoever, or any other rights or liabilities as a shareholder, prior to the exercise hereof as hereinbefore provided.

 

SECTION 14.        SEVERABILITY

 

Should any part of this Warrant for any
reason be declared invalid, such decision shall not affect the validity of any remaining portion, which remaining portion shall
remain in force and effect as if this Warrant had been executed with the invalid portion thereof eliminated, and it is hereby declared
the intention of the parties hereto that they would have executed and accepted the remaining portion of this Warrant without including
therein any such part, parts or portion which may, for any reason, be hereafter declared invalid.

 

SECTION 15.        AMENDMENT.

 

This Warrant is one of a series of Warrants
(the “Warrants”) issued by the Company pursuant to a registration statement under the Securities Act. The Warrants
may be amended, or any provision thereof waived, by the holders of at least 60% of the Warrant Shares then issuable upon exercise
of the Warrants then outstanding.

 

SECTION 16.        GOVERNING
LAW

 

This Warrant shall be governed by the laws
of the State of New York.

  

[Signature page immediately follows.]

 

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IN WITNESS WHEREOF, the Company has caused
this Warrant to be signed by a duly authorized officer.

 

	Dated: ________________, 2012	 
	 	EUROSITE POWER INC.
	 	 
	 	By:	 	 
	 	Name: Anthony S. Loumidis
	 	Title: Chief Financial Officer

 

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NOTICE OF EXERCISE

 

TO: EUROSITE POWER INC.

 

The undersigned hereby elects to purchase
________ Warrant Shares of the Company pursuant to the terms of the attached Warrant, and tenders herewith payment of the exercise
price in full, together with all applicable transfer taxes, if any.

 

Please issue a certificate or certificates
representing said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

 

The Warrant Shares shall be delivered to the following DWAC
Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

 

[SIGNATURE OF HOLDER]

 

Name of Investing Entity:_________________________________________________

 

Signature of Authorized Signatory of Investing Entity:__________________________

 

Name of Authorized Signatory:____________________________________________

 

Title of Authorized Signatory:_____________________________________________

 

Date:_________________________________________________________________

 

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FULL ASSIGNMENT

 

FOR VALUE RECEIVED,
________________________________hereby sells, assigns and transfers unto _________________________ the within Warrant and all
rights evidenced thereby and does irrevocably constitute and appoint_________________________, attorney, to transfer the said
Warrant on the books of the within-named Company.

 

	 	 	 
	 	Assignor	 
	 	 
	 	 	 
		Dated:____________________	 

  

PARTIAL ASSIGNMENT

 

FOR VALUE RECEIVED
__________________________ hereby sells, assigns and transfers unto that portion of the within Warrant and the rights
evidenced thereby which will on the date hereof entitle the holder to purchase _______________ shares of Common stock of
EuroSite Power Inc. and irrevocably constitutes and appoints _____________________, attorney, to transfer that part of the
said Warrant on the books of the within-named Company.

 

 

 

	 	 	 
	 	Assignor
	 	 
	 	 	 
		Dated_______________________

 

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