Document:

EX-10.2

MMA FINANCIAL, INC.

EMPLOYMENT AGREEMENT

Jenny Netzer

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is dated as of June 27, 2007 (the
“Effective Date”) by and between MMA Financial, Inc., a Maryland corporation
(“Employer”) and Jenny Netzer (“Employee”).

WHEREAS, Employer and Employee are parties to an existing employment agreement dated as of
July 1, 2003 (the “Existing Agreement”); and

WHEREAS, Employer and Employee desire to replace the Existing Agreement in its entirety as of
the Effective Date;

NOW, THEREFORE, in consideration of the foregoing, the mutual covenants hereinafter set forth,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Employer and Employee hereby agree as follows:

1. Employment and Duties. Employer agrees to continue to employ Employee, and
Employee agrees to continue to be employed by Employer, on the terms and conditions provided in
this Agreement. Employee shall have the duties and responsibilities set forth on the attached
Exhibit A and such other duties and responsibilities as are reasonably ancillary thereto as
determined from time to time by the Employer. Employee agrees to devote Employee’s best efforts
and full time, attention and skill in performing the duties of his/her position. Provided that
such activity shall not violate any provision of this Agreement (including the noncompetition
provisions of Section 8 below) or materially interfere with his/her performance of
Employee’s duties hereunder, nothing herein shall prohibit Employee (a) from participating in any
other business activities approved in advance by Employer in accordance with any terms and
conditions of such approval, such approval not to be unreasonably withheld or delayed, (b) from
engaging in charitable, civic, fraternal or trade group activities, or (c) from investing in other
entities or business ventures.

2. Compensation. As compensation for performing the services required by this
Agreement, and during the term of this Agreement, Employee shall be compensated as follows:

(a) Base Compensation. From March 1, 2007 through February 28, 2008, Employer shall
pay to Employee a salary (“Base Compensation”) of $325,000 per annum, payable in accordance
with the general policies and procedures of Employer, but in any event no less frequently than
every two weeks, in substantially equal installments, subject to withholding for applicable
federal, state and local taxes. For the avoidance of doubt, Employer agrees to pay to Employee a
lump sum cash payment sufficient to adjust amounts actually paid to Employee from March 1, 2007
through the Effective Date to the level of Base Compensation described in the preceding sentence as
soon as practicable after the date hereof through Employer’s regular payroll process. Assuming
that notice of termination has not been given under Section 7, Employee’s Base Compensation
shall increase by $25,000 on each March 1, from March 1, 2008 through December 31, 2010.
Additional increases in Base Compensation, if any, shall be determined by Employer based on
periodic reviews of Employee’s performance.

(b) Incentive Compensation.

(i) In addition to Employee’s Base Compensation, Employee shall be eligible to receive
additional compensation (“Incentive Compensation”) in the form of an annual bonus and
long-term incentive payment totaling up to 200% of Employee’s Base Compensation then in effect.
The amount of the bonus will be based on a formula weighted approximately 60% Employee’s
performance and 40% Employer’s company-wide performance. The amount of the long-term incentive
payment will be based on a formula weighted among achievement of strategic objectives, absolute
total shareholder return (“TSR”) and the Company’s (defined below) supplemental performance
measure, as approved by the Board of Directors for purposes of assessing management performance.
These formulas may be modified from time to time by Employer, following consultation with Employee.

(ii) Incentive Compensation may, at the election of Employer, take the form of cash or equity
or equity-based awards in Municipal Mortgage & Equity, LLC (the “Company”). To the extent
Employee’s Incentive Compensation consists of such equity awards, such awards may be granted under
Employer’s employee share incentive plans as in effect from time to time, and may be subject to the
approval of the Company’s Compensation Committee. Employee understands and agrees that the equity
component of Incentive Compensation may be awarded on a deferred basis and may vest and be issued
over time in multiple installments. Incentive Compensation for any given calendar year shall be
determined no later than 60 days after the last day of Employer’s calendar year and paid on March
5 of the following calendar year; in the case of awards with delayed vesting, each installment
shall be paid within thirty days of the vesting date. Incentive Compensation shall be pro-rated for
any partial calendar years. Other than as specifically set forth herein, if this Agreement is
terminated for any reason during any fiscal year for which Employee is eligible for Incentive
Compensation, no Incentive Compensation shall be payable to Employee for that calendar year.

3. Employee Benefits. During the Term (as defined in Section 6), Employee and
Employee’s eligible dependents shall have the right to participate in any retirement, pension,
insurance, health or other benefit plan or program adopted by Employer (or in which Employer
participates) subject, in the case of a plan or program (other than any severance plan), to all of
the terms and conditions thereof, and to any limitations imposed by law. To the extent that
Employee has similar benefits under a plan or program established by any other entity, Employee
shall nonetheless have the right to the benefits provided by Employer’s plan or program;
provided, however, that where by the terms of any plan or program, or under
applicable law, Employee may only participate in one such plan or program, Employee shall have the
option to limit participation to the plan or program sponsored by Employer, or to such other plan
or program. Employee shall have the right, to the extent permitted under any applicable law, to
participate concurrently in plans or programs sponsored by others (including self-employment plans
or programs) and in plans or programs sponsored by Employer.

4. Vacation, Sickness and Leaves of Absence.

(a) Vacation and Sick Leave. Employee shall be entitled to ten (10) weeks paid
vacation during each fiscal year. Employee shall provide Employer with reasonable notice of
anticipated vacation dates. Employee shall be entitled to such sick leave, with pay, as Employer
provides to other employees.

(b) Carry-Forward/Pay Out of Vacation and Sick Leave. Vacation or sick days that are
not taken in a given fiscal year may be carried over to the next fiscal year; provided, however,
that no more than a total of ten vacation days and ten sick days may be carried forward. In the
event of the expiration of the Term or the termination of this Agreement for any reason, Employer
agrees to compensate Employee for all unused vacation and sick days carried forward, plus all
unused vacation and sick days for the year of expiration or termination (assuming proportionate
accrual of such vacation and sick days during such year), such compensation not to exceed, however,
a total of ten vacation days and ten sick days.

(c) Leaves of Absence. Employee may also be granted leaves of absence with or without
pay for such valid and legitimate reasons as Employer, in its sole discretion, may determine.

5. Expenses. Employee shall be entitled to receive, within a reasonable period of
time after Employee has delivered to Employer an itemized statement thereof, and after presentation
of such invoices or similar records as Employer may reasonably require, reimbursement for all
necessary and reasonable expenses incurred by Employee in connection with the performance of the
duties described in Section 1 hereof. To the extent necessary to avoid characterizing any
reimbursement to Employee as deferred compensation under Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”), such reimbursements shall be submitted no later than
March 1 following the close of the calendar year in which the expense was incurred by Employee and
paid on or before March 15th following the close of such calendar year. Amounts which
are not submitted within the required timeframe shall not be eligible for reimbursement hereunder.

6. Term. The term of this Agreement shall commence on the Effective Date and end on
December 31, 2010 (the “Expiration Date”), unless earlier terminated in accordance with the
provisions of Section 7 (the period that this Agreement is in effect being herein referred
to as the “Term”). Any termination of this agreement shall be subject to Section 8
below.

7. Termination and Termination Benefits.

(a) Termination by Employer.

(i) With Cause. Employer may terminate this Agreement for Cause (defined below) upon
ten days prior written notice to Employee. In the event that Employer terminates this Agreement
pursuant to this Section 7(a)(i), Employee shall be entitled to receive the Base
Compensation and the benefits to which Employee is entitled under this Agreement through the
Termination Date (as defined in Section 7(f) below), payable within 30 days of the
Termination Date. As used in this Agreement, “Cause” shall mean (A) acts or omissions by
Employee with respect to Employer which constitute intentional misconduct or a knowing violation of
law; (B) receipt by Employee of money, property or services from Employer or from another person
dealing with Employer in violation of law or this Agreement, (C) breach by Employee of the
provisions of Section 8 below, (D) breach by Employee of the duty of loyalty to Employer,
(E) gross negligence by Employee in the performance of the duties assigned pursuant to
Section 1 hereof, (F) repeated failure by Employee to perform the duties assigned pursuant
to Section 1 hereof, which failure is not cured to the satisfaction of Employer within 30
days following delivery of written notice from Employer of such failure; provided that such
cure period shall be available to Employee on only two occasions, (G) violation of Employer’s
policies with respect to alcohol or drug use or abuse, or (H) Employee pleaded guilty or no
contest to or is convicted of any criminal offense (other than minor traffic violations).

(ii) Unsatisfactory Performance. Employer may upon written notice terminate
this Agreement for unsatisfactory job performance in the event Employee fails to achieve stated
goals and Employee’s performance is materially below Employer’s expectations. Employer shall not
terminate Employee under this Section 7(a)(ii) unless Employer shall have given Employee
written notice of such unsatisfactory performance and Employee shall fail to cure such performance
within ninety (90) days of such notice. In the event of termination under this Section
7(a)(ii), Employee shall be paid Employee’s Base Compensation and all other benefits to which
Employee is entitled under this Agreement through the Termination Date (as defined in
Section 7(f)). Employee shall also receive, as severance pay, an amount equal to the
lesser of (a) twelve (12) months’ Base Compensation, or (b) the Base Compensation that Employee
would have received during the remaining Term of this Agreement.

(iii) Without Cause. Employer may terminate this Agreement without Cause upon 90 days
prior written notice to Employee. In the event that Employer terminates this Agreement pursuant to
this Section 7(a)(iii), Employee shall be entitled to receive (x) Employee’s Base
Compensation and the benefits to which Employee is entitled under this Agreement through the
Termination Date (as defined in Section 7(f)), plus (y) the Proportionate Share (as defined
in Section 7(f)) of Employee’s Incentive Compensation, plus (z) severance payments in an
aggregate amount equal to twelve (12) months’ Base Compensation; provided, however,
that in the event of a termination without Cause within eighteen (18) months after a Change in
Control (as defined in Section 7(f)), the severance amount for purposes of applying clause
(z) shall be twenty-four (24) months’ Base Compensation.

(iv) Disability. If a Disability (defined in Section 7(f) below) prevents the
Employee from performing the duties assigned to Employee under Section 1 hereof, Employer
may terminate this Agreement upon 30 days prior written notice to Employee. In the event that
Employer terminates Employee pursuant this Section 7(a)(iv), Employee shall be entitled to
receive (x) Employee’s Base Compensation and the benefits to which Employee is entitled under this
Agreement through the Termination Date, plus (y) the Proportionate Share (as defined in
Section 7(f)) of Employee’s Incentive Compensation, plus (z) severance payments in an
aggregate amount equal to the greater of (A) twelve (12) months’ Base Compensation and (B) the Base
Compensation that Employee would have received from the Termination Date through the Expiration
Date. Nothing in this Section 7(a)(iv) shall be construed to limit Employee’s rights under
or vary the terms of any disability insurance policy provided by Employer in any manner adverse to
Employee. Employee shall be considered to have a “Disability” if Employee is unable to
perform the duties assigned to Employee under Section 1 hereof due to illness, physical or
mental disability or other incapacity for a total of 120 or more business days during any
twelve-month period.

(b) Termination by Employee. Employee may terminate this Agreement for Good Reason
(defined in Section 7(f) below) upon 30 days prior written notice to Employer. In the
event that Employee terminates this Agreement pursuant to this Section 7(b), Employee shall
be entitled to receive (x) Employee’s Base Compensation and the benefits to which Employee is
entitled under this Agreement through the Termination Date, plus (y) the Proportionate Share (as
defined in Section 7(f)) of Employee’s Incentive Compensation, plus (z) severance payments
in an aggregate amount equal to the lesser of (A) twelve (12) months’ Base Compensation and (B) the
Base Compensation that Employee would have received from the Termination Date through the
Expiration Date; provided, however, that in the event of a termination for Good
Reason within eighteen (18) months after a Change in Control (as defined in Section 7(f)),
the severance amount for purposes of applying clause (z)(A) shall be twenty-four (24) months’ Base
Compensation. As used in this Agreement, “Good Reason” shall mean (i) the reduction by
Employer of Employee’s Base Compensation without Employee’s consent, (ii) the failure by Employer
to provide in any material respect any of the material payments or benefits to which Employee is
entitled under this Agreement; (iii) a situation where Employer, through a formal assignment of
duties or otherwise, requires Employee to take any act which would be a violation of federal, state
or local criminal law, the Company’s charter or bylaws or (iv) without Employee’s consent, the
Employer requires Employee to relocate to an office more than 100 miles from Employer’s current
office in Boston, Massachusetts.

(c) Death Benefit. Notwithstanding any other provision of this Agreement, this
Agreement shall terminate on the date of Employee’s death. In such event, Employee’s estate shall
be entitled to receive an amount equal to twenty-four (24) months’ Base Compensation or $650,000
(the “Death Benefit”), payable in accordance with Employer’s usual payroll practices, except that
if Employer receives any insurance proceeds with respect to the Employee’s death, an amount equal
to the lesser of such proceeds or any unpaid Death Benefit shall be paid to Employee’s estate in a
lump sum within five (5) business days of receipt by Employer.

(d) Severance Payments. Severance payments owing to the Employee under this
Section 7 shall be payable in a lump sum severance payment to Employee on the Termination
Date.

(e) Vesting of Deferred Awards. In the event of a termination under Section
7(a)(ii) (Unsatisfactory Performance), 7(a)(iii) (Without Cause), 7(a)(iv)
(Disability), 7(b) (Good Reason), or 7(c) (Death), or in the event this Agreement
shall expire on the Expiration Date, without renewal, within eighteen (18) months of a Change in
Control, Employee shall become fully vested in any and all outstanding deferred share awards,
options, or other equity-based compensation previously awarded to Employee but not yet vested at
the time of such termination. Awards which become vested under this paragraph shall be paid to
Employee within thirty days of the Termination Date.

(f) Certain Definitions

(i) “Proportionate Share” shall mean the dollar amount of Employee’s Incentive
Compensation (determined in accordance with Employer’s usual and customary practices) that would
have been payable for the year in which the Termination Date occurs multiplied by a fraction, the
numerator of which shall be the number of days elapsed, as of the Termination Date, in the year of
termination, and the denominator of which shall be 365. Proportionate Share amounts shall be
payable as and when provided in Section 2(b)(ii).

(ii) “Termination Date” shall mean the effective date of termination of Employee’s
employment as specified in the written notice described in this Section 7.

(iii) “Change in Control” means:

(A) Any “Person,” as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as Amended (the “Act), or Persons acting in concert (other than
the Company, a subsidiary, any trustee or other fiduciary holding securities under an employee
benefit plan of the Company, or any corporation owned, directly or indirectly, by the shareholders
of the Company in substantially the same proportions as their ownership of shares of the Company),
is or becomes the “beneficial owners” (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of securities of the Company representing fifty percent (50%) or more of the
combined voting power of the Company’s then outstanding voting securities;

(B) during any period of two consecutive years, individuals who at the beginning of such
period constitute the Company’s Board of Directors (the “Board) and any new director (other than a
director designated by a person who has entered into an agreement with the Company to effect a
transaction described in clause (A) or (C) of this Section 7(g)(iii) whose election by the
Board or nomination for election by the Company’s shareholders was approved by a vote of at least
two-thirds (2/3) of the directors then still in office who either were directors at the beginning
of the period or whose election or nomination for election was previously so approved, cease for
any reason to constitute at least a majority thereof;

(C) the shareholders of the Company approve a merger, consolidation, recapitalization, or
reorganization of the Company, or a reverse share split of any class of voting securities of the
Company, or the consummation of any such transaction if shareholder approval is not obtained, other
than any such transaction which would result in at least fifty percent (50%) of the total voting
power represented by the voting securities of the Company or the surviving entity outstanding
immediately after such transaction being beneficially owned by persons who together beneficially
owned at least fifty percent (50%) of the combined voting power of the voting securities of the
Company outstanding immediately prior to such transaction, with the relative voting power of each
such continuing holder compared to the voting power of each such continuing holder not
substantially altered as a result of the transaction; provided that, for purposes of this
paragraph (C), such continuity of ownership (and preservation of relative voting power) shall be
deemed to be satisfied if the failure to meet such fifty percent (50%) threshold (or to
substantially preserve such relative voting power) is due solely to the acquisition of voting
securities by an employee benefit plan of the Company or such surviving entity or of any subsidiary
of the Company or such surviving entity;

(D) the shareholders of the Company approve a sale of all or substantially all of the assets
of the Company; or

(E) the Company ceases to own directly or indirectly a majority of the voting interests in the
Employer, or there is an assignment of this Agreement in connection with a sale of all or
substantially all of the assets of Employer.

Notwithstanding anything herein to the contrary, it shall not be a Change in Control if
following a transaction or series of related transactions described in Section 7(f)(iii),
twenty-five percent (25%) or more of the Company’s then outstanding voting securities are
beneficially owned by Employee and Persons who were members of the Company’s Section 16 reporting
group immediately prior thereto.

(iv) “Deferred Compensation” means any amount that is deemed to be deferred
compensation under (and subject to) Section 409A of the Code.

(v) “Specified Employee” has the meaning given to such term by Section
409A(a)(2)(B)(i) of the Code.

(vi) “Separation From Service” means a separation from service within the meaning of
Section 409A of the Code.

8. Covenant Not to Compete.

(a) Noncompetition.

(i) Except as provided below, from and after the Effective Date and continuing until
the later of (A) twelve (12) months following Employee’s last day of employment or (B) the
Expiration Date, Employee shall not without the prior written consent of Employer become
employed by, or undertake to work for, directly or indirectly, whether as an advisor,
principal, agent, partner, officer, director, employee, shareholder, associate or consultant
of or to, any person, partnership, corporation or other business entity which is a Major
Competitor of Employer. As used herein, (x) “Major Competitor” shall mean Charter Mac, and
any other person, partnership, corporation or other business entity engaged directly or
through Affiliates in the business of offering, promoting or syndicating to any person,
including developers, investors, owners, or project sponsors, low income housing tax credits
under Section 42 of the Code or renewable energy tax credits under any applicable sections
of the Code, unless the net worth of such person or entity (if privately held) or the market
capitalization of such company (if publicly held) is less than $200 Million and (y)
“Affiliate” shall mean any person or entity controlled by or under common control
with any other person or entity, whether by the ownership of, or the right to control the
voting of, voting securities, by contract, or otherwise. Notwithstanding the foregoing, if
Employer terminates Employee without Cause under Section 7(a)(iii) of this
Agreement, or Employee resigns for Good Reason under Section 7b), this Section
8(a)(i) shall not apply.

(ii) From and after the Effective date and continuing until the later of (A)
twenty-four (24) months following Employee’s last day of employment or (B) the Expiration
Date, Employee shall not (w) solicit any employee of Employer to change employment; (x)
solicit any client, customer or investor of Employer or any of its subsidiaries which closed
(in any capacity) a transaction with Employer or any of its subsidiaries during the last
twenty-four (24) months of Employee’s employment; (y) disclose proprietary or confidential
information of Employer or its subsidiaries, including without limitation, tax structures
and solutions, deal structures, pricing, customer or client lists or information, revenues,
expenses, or other similar information; or (z) disparage the Company or any of its products,
partners, officers, directors, employees, affiliates, subsidiaries or agents in his or her
dealings with any person or entity within or outside of the Company, except that statements
made pursuant to legal process shall not be deemed to violate this clause.

(b) Reasonable Restrictions. Employee acknowledges that the restrictions of
Section 8(a) above are reasonable, fair and equitable in scope, term and duration, are
necessary to protect the legitimate business interests of Employer, and are a material inducement
to Employer to enter into this Agreement. Employer and Employee both agree that in the event a
court shall determine any portion of the restrictions in Section 8(a) are not reasonable,
the court may change such restrictions, including without limitation the geographical restrictions
and the duration restrictions, to reflect a restriction which the court will enforce as reasonable.

(c) Specific Performance. Employee acknowledges that the obligations undertaken by
him/her pursuant to this Agreement are unique and that if Employee shall fail to abide by any of
the restrictions set forth in Section 8(a), Employer will suffer harm for which there is no
adequate remedy at law. Employee therefore confirms that Employer shall have the right, in the
event of a violation of Section 8(a), to injunctive relief to enforce the terms of this
Section 8 in addition to any other remedies available at law or in equity.

9. Indemnification. Employer hereby agrees to defend, indemnify and hold Employee
harmless, to the maximum extent allowed by law, from any and all liability for acts or omissions of
Employee performed in the course of Employee’s employment (or reasonably believed by Employee to be
within the scope of his/her employment); provided that such acts or omissions do not
constitute (a) criminal conduct, (b) willful misconduct, or (c) a fraud upon, or breach of
Employee’s duty of loyalty to, Employer. Employer shall at all times carry Director and Officer
liability insurance in commercially reasonable amounts, but in any event not less than ten million
dollars ($10,000,000).

10. Miscellaneous.

(a) Complete Agreement. This Agreement constitutes the entire agreement among the
parties with respect to the matters set forth herein and supersedes all prior understandings and
agreements between the parties as to such matters. No amendments or modifications shall be binding
unless set forth in writing and signed by both parties.

(b) Successors and Assigns. Neither party may assign its rights or interest under
this Agreement without the prior written consent of the other party, except that Employer’s
interest in this Agreement may be assigned to a successor by operation of law or to a purchaser
purchasing substantially all of Employer’s business, and Employee’s benefits under this Agreement
may be assigned by operation of law to Employee’s heirs, devisees and personal representatives.
This Agreement shall be binding upon and shall inure to the benefit of each of the parties and
their respective permitted successors and assigns.

(c) Severability. Each provision of this Agreement is severable, such that if any
part of this Agreement shall be deemed invalid or unenforceable, the balance of this Agreement
shall be enforced so as to give effect as to the intent of the parties.

(d) Representations. Employer represents and warrants to Employee that it has the
requisite corporate power to enter into this Agreement and perform the terms hereof and that the
execution, delivery and performance of this Agreement have been duly authorized by all appropriate
company action. Employee represents that Employee is not a party to any agreement that would be
violated by this Agreement or by Employee accepting employment with Employer.

(e) Construction. This Agreement shall be governed in all respects by the internal
laws of the State of Maryland (excluding reference to principles of conflicts of law). As used
herein, the singular shall include the plural, the plural shall include the singular, and the use
of any pronoun shall be construed to refer to the masculine, feminine or neuter, all as the context
may require.

(f) Compliance with Section 409A. To the extent that Section 409A of the Code applies
to any election or payment required under this Agreement, such payment or election shall be made in
conformance with the provisions of Section 409A of the Code.

(g) Notices. All notices required or permitted under this Agreement shall be in
writing and shall be deemed given on the date sent if delivered by hand or by facsimile (with
electronic confirmation of delivery), and on the next business day if sent by overnight courier or
by United States mail, postage prepaid, to each party at the following address (or at such other
address as a party may specify by notice under this section):

If to Employer:

MMA Financial, Inc.

621 East Pratt Street

Suite 300

Baltimore, Maryland 21202

Facsimile: (410) 727-5387

Attention: Chief Executive Officer

If to Employee:

Jenny Netzer

[REDACTED]

(g) Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original and all of which together shall constitute one instrument.

1

IN WITNESS WHEREOF, and intending to be legally bound, the parties have executed this
Agreement as of the date and year first above written.

EMPLOYER:

	 	 	MMA FINANCIAL, INC.

By: /s/ Michael L. Falcone

Name: Michael L. Falcone

Title: Chief Executive Officer and President

EMPLOYEE:

/s/ Jenny Netzer

Jenny Netzer

2

3

EXHIBIT A

JOB DESCRIPTION

	 
	TITLE: Executive Vice President

	DUTIES AND RESPONSIBILITIES:

(a) Leading Employer’s new product development initiatives related to affordable housing and
tax advantaged investing;

(b) Assisting Employer with strategic initiatives; and

(c) Serving on Employer’s Senior Staff.

4Exhibit 10.1

    EXHIBIT
      10.1

     

    CONSULTING
      AGREEMENT

    

    This
      Consulting Agreement (this “Agreement”) is made and effective as of the
      25th
      of June,
      2007 (the “Effective Date”), by and between Extex Consulting, Inc. (hereinafter
      referred to as “Consultant”) and Unicorp, Inc. (hereinafter referred to as
“Company”).

    

    WHEREAS,
      the Consultant is hired to provide Management and Technical assistance to the
      Company; and

    

    WHEREAS,
      the Consultant is willing to enter into an agreement with the Company upon
      the
      terms and conditions herein set forth.

    

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

    

    
      	
              1.

            	
              Term.
                Subject to the terms and conditions hereof, the term of engagement
                of the
                Consultant under this Consulting Agreement shall be for the period
                commencing on June 1, 2007 (the “Commencement Date”) and terminating on
                May 30, 2008, unless sooner terminated as provided in accordance
                with the
                provisions of Section 5 hereof. (Such term of this agreement is herein
                sometimes called the “Retained
                Term”).

            

    

    

    
      	
              2.

            	
              Consulting.
                As of the Commencement Date, the Company hereby agrees to retain
                the
                Consultant to provide Management and Technical assistance as may
                be
                requested by the Company during the term hereof. Consultant designates
                it’s employee, William E. Dozier, to provide the service pursuant to
                this
                agreement as an Executive of the
                Company.

            

    

    

    3. Duties
      and Responsibilities.

    

    
      	 	
              (a)

            	
              Duties.
                Executive shall perform such duties as are usually performed by a
                Chief
                Operating Officer
                with such duties as assigned from time to time by the Company
                of
                a business similar in size and scope as the Company and such other
                reasonable additional duties as may be prescribed from time-to-time
                by the
                Company’s Chief Executive Officer which are reasonable and consistent with
                the Company’s operations, taking into account Executive’s expertise and
                job responsibilities. This agreement shall survive any job title
                or
                responsibility change. All actions of Consultant shall be subject
                and
                subordinate to the review and approval of the Chief Executive Officer
                and
                the board of directors. The Chief Executive Officer of the Company
                shall
                be the final and exclusive arbiter of all policy decisions relative
                to the
                Company’s business (including their
                subsidiaries).

            

    

    

    
      	 	
              (b)

            	
              Devotion
                of Time.
                During the term of this agreement, Consultant agrees to devote the
                necessary time to the business and affairs of the Company (including
                its
                subsidiaries) to the extent necessary to discharge the responsibilities
                assigned to Consultant and to use reasonable best efforts to perform
                faithfully and efficiently such responsibilities. However, the Company
                acknowledges the Consultant is performing said duties on a part time
                basis
                and is compensated accordingly. During the term of this Agreement
                it shall
                not be a violation of this Agreement for Consultant to manage personal
                investments or companies in which personal investments are made or
                perform
                services for other clients so long as such activities do not interfere
                with the performance of Consultant’s responsibilities with the Company and
                which companies are not in direct competition with the Company. The
                Company acknowledges that the Consultant is currently serving as
                a board
                member for Evolution Petroleum Corp. and does not consider this an
                interference with this Agreement. 

            

    

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    4. Compensation
      and Benefits During the Engagement Term.

    

    (a)
      Compensation. In
      exchange, the Company agrees to pay Consultant $10,000 per month. 

     

    (b)
      Reimbursement.
      The
      Company agrees to reimburse Consultant for all reasonable ordinary and necessary
      business and travel related expenses up to $2500 per month. Any additional
      expenses must be pre-approved verbally or in writing. 

    

    

    
      	 	
              (c)

            	
              Options.
                The Consultant shall receive a non-qualified stock option to purchase
                500,000 shares at an exercise price of $0.35 per share. The option
                shall
                vest according to the following schedule provided that on any vesting
                date
                set forth below, Consultant is still engaged as a Consultant for
                the
                Company at such date:

            

    

    

    (i)
      100,000 Options will vest immediately upon the execution of this
      Agreement;

    

    (ii)
      100,000 Options will vest two (2) months from the date of execution of this
      Agreement;

    

    (iii)
      100,000 Options will vest three (3) months from the date of execution of this
      Agreement;

    

    (iv)
      100,000 Options will vest four (4) months from the date of execution of this
      Agreement; and 

    

    (v)100,000
      Options will vest five (5) months from the date of execution of this
      Agreement;

    

    

    
      	 	
              (d)

            	
               Acquisition
                Bonus.
                The Consultant will receive a percentage of the gross purchase price
                of
                each producing property acquired by the Company during the term of
                this
                Agreement. The Consultant must assist in all aspects of each acquisition
                including identifying, performing due diligence and financing of
                each
                acquired property. 

            

    

    

      The
      following table defines how the Consultant is to be paid:

    

    Gross
      Purchase Price   Fee

    

          
      $0 -
      $2,500,000           2.0%

    $2,500,001
      - $5,000,000     1.0%

    $5,000,001
      +        
0.5%

    
      	 	 	 

    

    The
      Bonus
      will be paid in the Company’s common stock and valued at the time of closing and
      funding of each acquisition. The total purchase price for the Prospects shall
      be
      defined as the full value paid for the Prospects based on the actual purchase
      price paid plus any adjustments paid by the Company to the selling party
      (“Seller”) which includes any consideration, including stock, debt, and the
      calculated amount of value assigned to the time between the effective date
      of
      purchase and time of closing the Prospects. Any consideration for adjustments
      or
      the effective date which cannot be established at the time the closing occurs
      shall be paid by the Company to the Consultant based upon the final settlement
      arrangements in the Purchase Sale Agreement executed between the Company and
      the
      Seller or other agreement(s) that are binding between the parties. In the event
      part of the purchase price is deferred, proportional payment to the Consultant
      will be deferred. The Consultant acknowledges that the Welsh Field and Energy
      XXI interests in the Southwest Speaks field will not be subject to this
      Acquisition Bonus fee. 

    

    

    
      	(e)  	
              Succession
                Fee. If
                the Consultant notifies the Company at least 30 days prior to the
                expiration of this Agreement that the Consultant does not intend
                to renew
                this Agreement for an extended period of time then the Consultant
                is
                entitled to receive a succession fee of 25% of the replacement’s base
                salary if he identifies and retains a new Chief Operating Officer
                on
                behalf of the Company.

            

    

    

    
      	(f)  	
              The
                options shall be evidenced by an option agreement, shall expire in
                four
                years, and shall be subject to the terms of the Company’s 2004 Stock
                Option Plan and such option agreement. Notwithstanding the expiration
                date, the option (including all vested and unvested options) shall
                automatically terminate 90 days after the Consultant ceases to be
                engaged
                by the Company, provided that if the Consultant is terminated by
                the
                Company for Cause, any unvested options shall automatically terminate
                on
                the date of the Consultant’s termination. The parties acknowledge that any
                existence of vesting provisions lasting longer than the Engagement
                Term is
                not meant to extend the Engagement Term, and that such vesting provisions
                do not require the Company to engage the Consultant for any period
                of
                time.

            

    

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    5.
      Termination.
      

    

    
      	(a)  	
              Consultant's
                engagement under the Agreement may be terminated under any of the
                following circumstances:

            

    

    

    (i)
       Immediately
      by the Company, upon the death of Consultant.

    

    (ii)
       By
      the
      Consultant at any time, upon 14 days written notice.

    

    (iii)
       Immediately,
      upon written notice by the Company for Cause which for purposes of the Agreement
      shall be defined as (i) Consultant’s willful and persistent inattention to his
      reasonable duties which amounts to gross negligence or willful dishonesty
      towards, fraud upon, or deliberate injury or attempted injury to, the Company,
      (ii) Consultant’s willful breach of any term or provision of the Agreement which
      breach shall have remained substantially uncorrected for 15 days with an
      opportunity to cure following written notice to the Consultant; or (iii) the
      commission by Consultant of any act or any failure by Consultant to act
      involving criminal conduct, whether or not directly relating to the business
      and
      affairs of the Company. 

    

    
      	(b)  	
              Effects
                of Termination.
                In
                the event that the Agreement is terminated pursuant to Section 5(a)
                or upon expiration of the term of the Agreement, neither the Consultant
                nor the Company shall have any further obligations hereunder except
                for
                (a) obligations occurring prior to the date of termination, and
                (b) obligations, promises or covenants contained herein which are
                expressly made to extend beyond the term of the
                Agreement.

            

    

    

    
      	(c)  	
              Improper
                Termination.
                In the event of the Consultant's termination by the Company for any
                reason
                other than for Cause or the death of the Consultant, Consultant shall
                continue to be paid, as severance pay, an amount equal to his fee
                at the
                time of termination until the earlier of: (i) the end of the Engagement
                Term, or (ii) 60 calendar days from the date of the termination.
                Except
                for the severance pay the Company shall not have any further obligations
                hereunder except for (a) obligations occurring prior to the date of
                termination, and (b) obligations, promises or covenants contained
                herein which are expressly made to extend beyond the term of the
                Agreement. Should such termination occur prior to the Consultant
                vesting
                in Options set forth in Section 4(c), all unvested Options will
                immediately vest and be considered part of severance
                pay.

            

    

    

    
      	
              6.
                

            	
              Revealing
                of Trade Secrets, etc.
                Consultant acknowledges the interest of the Company in maintaining
                the
                confidentiality of information related to its business and shall
                not at
                any time during the Engagement Term or thereafter, directly or indirectly,
                reveal or cause to be revealed to any person or entity the supplier
                lists,
                customer lists or other confidential business information of the
                Company;
                provided, however, that the parties acknowledge that it is not the
                intention of this paragraph to include within its subject matter
                (a)
                information not proprietary to the Company, (b) information which
                is then
                in the public domain through no fault of Consultant, or (c) information
                required to be disclosed by law.

            

    

    

    
      
        
        

      

      
        3

        
          

        

      

       

      
        
        

      

    

    
      	
              7.
                

            	
              Arbitration.
                If
                a dispute should arise regarding this Agreement, all claims, disputes,
                controversies, differences or other matters in question arising out
                of
                this relationship shall be settled finally, completely and conclusively
                by
                arbitration of a single arbitrator, which is mutually agreed upon,
                in
                Houston, Texas, in accordance with the Commercial Arbitration Rules
                of the
                American Arbitration Association (the "Rules"). Arbitration shall
                be
                initiated by written demand. This Agreement to arbitrate shall be
                specifically enforceable only in the District Court of Harris County,
                Texas. A decision of the arbitrator shall be final, conclusive and
                binding
                on the Company and the Consultant, and judgment may be entered in
                the
                District Court of Harris County, Texas, for enforcement and other
                benefits. On appointment, the arbitrator shall then proceed to decide
                the
                arbitration subjects in accordance with the Rules. Any arbitration
                held in
                accordance with this paragraph shall be private and confidential.
                The
                matters submitted for arbitration, the hearings and proceedings and
                the
                arbitration award shall be kept and maintained in strictest confidence
                by
                Consultant and the Company and shall not be discussed, disclosed
                or
                communicated to any persons. On request of any party, the record
                of the
                proceeding shall be sealed and may not be disclosed except insofar,
                and
                only insofar, as may be necessary to enforce the award of the arbitrator
                and any judgment enforcing an award. The prevailing party shall be
                entitled to recover reasonable and necessary attorneys' fees and
                costs
                from the non-prevailing party.

            

    

    

    
      	
              8.

            	
              Survival.
                In the event that this Agreement shall be terminated, then notwithstanding
                such termination, the obligations of Consultant pursuant to Section
                6 of
                this Agreement shall survive such termination.

            

    

    

    
      	
              9.

            	
              Contents
                of Agreement, Parties in Interest, Assignment, etc.
                This Agreement sets forth the entire understanding of the parties
                hereto
                with respect to the subject matter hereof. All of the terms and provisions
                of this Agreement shall be binding upon and inure to the benefit
                of and be
                enforceable by the respective heirs, representatives, successors
                and
                assigns of the parties hereto, except that the duties and responsibilities
                of Consultant hereunder which are of a personal nature shall neither
                be
                assigned nor transferred in whole or in part by Consultant. This
                Agreement
                shall not be amended except by a written instrument duly executed
                by the
                parties. 

            

    

    

    
      	
              10.

            	
              Severability;
                Construction.
                If any term or provision of this Agreement shall be held to be invalid
                or
                unenforceable for any reason, such term or provision shall be ineffective
                to the extent of such invalidity or unenforceability without invalidating
                the remaining terms and provisions hereof, and this Agreement shall
                be
                construed as if such invalid or unenforceable term or provision had
                not
                been contained herein. The parties have participated jointly in the
                negotiation and drafting of this Agreement. In the event an ambiguity
                or
                question of intent or interpretation arises, this Agreement shall
                be
                construed as if drafted jointly by the parties and no presumption
                or
                burden of proof shall arise favoring or disfavoring any party by
                virtue of
                the authorship of any of the provisions of this
                Agreement.

            

    

    

    
      	
              11.

            	
              Notices.
                Any notice, request, instruction or other document to be given hereunder
                by any party to the other party shall be in writing and shall be
                deemed to
                have been duly given when delivered personally; or five (5) days
                after
                dispatch by registered or certified mail, postage prepaid, return
                receipt
                requested; or one (1) day after dispatch by overnight courier service;
                in
                each case, to the party to whom the same is so given or
                made:

            

    

    

    If
      to the Company addressed to:

     

    Unicorp,
      Inc.

    5075
      Westheimer, Suite 975

    Houston,
      Texas 77056

    Attn:
      Chief Executive Officer

    

    If
      to Consultant addressed to:

    

    Extex
      Consulting, Inc.

    3000
      Sage
      #1312

    Houston,
      Texas 77056

    Attn:
      William E .Dozier

    

    or
      to
      such other address as the one party shall specify to the other party in
      writing.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    
      	
              12.

            	
              Counterparts
                and Headings.
                This Agreement may be executed in one or more counterparts, each
                of which
                shall be deemed an original and all which together shall constitute
                one
                and the same instrument. All headings are inserted for convenience
                of
                reference only and shall not affect the meaning or interpretation
                of this
                Agreement.

            

    

    

    
      	
              13.

            	
              Governing
                Law; Venue.
                This Agreement shall be construed and enforced in accordance with,
                the
                laws of the State of Texas, without regard to the conflict of laws
                provisions thereof. Venue of any dispute concerning this Agreement
                shall
                be exclusively in Harris County,
                Texas.

            

    

    

    14. Waiver. 
      The
      failure of either party to enforce any provision of this Agreement shall not
      be
      construed as a waiver or limitation of that party’s right to subsequently
      enforce and compel strict compliance with every provision of this
      Agreement.

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
      executed and delivered as of the day and year first above written.

    

    

    EXTEX
      CONSULTING, INC.              UNICORP,
      INC.

    

    

    

    _/s/ 
      William E. Dozier________________       _/s/ 
      Kevan Casey___________________

    William
      E. Dozier                  Kevan
      Casey, Chief Executive Officer

     

     

    
      
        
        

      

      
        5

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