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                                                                    EXHIBIT 4.1

                 SUB SURFACE WASTE MANAGEMENT OF DELAWARE, INC.

                      2005-I EMPLOYEE STOCK INCENTIVE PLAN

                           AS ADOPTED FEBRUARY 12, 2005

1.       PURPOSE.

         The purpose of this Plan is to provide incentives to attract, retain
and motivate eligible persons whose present and potential contributions are
important to the success of the Company, its Parent and Subsidiaries, by
offering them an opportunity to participate in the Company's future performance
through awards of Options, Restricted Stock and Stock Bonuses. Capitalized terms
not defined in the text are defined in Section 2.

2.       DEFINITIONS.

         As used in this Plan, the following terms will have the following
meanings:

         "AWARD" means any award under this Plan, including any Option,
Restricted Stock or Stock Bonus.

         "AWARD AGREEMENT" means, with respect to each Award, the signed written
agreement between the Company and the Participant setting forth the terms and
conditions of the Award.

         "BOARD" means the Board of Directors of the Company.

         "CAUSE" means any cause, as defined by applicable law, for the
termination of a Participant's employment with the Company or a Parent or
Subsidiary of the Company.

         "CODE" means the Internal Revenue Code of 1986, as amended.

         "COMPANY" means Sub Surface Waste Management of Delaware, Inc., a
Delaware corporation, or any successor corporation.

         "DISABILITY" means a disability, whether temporary or permanent,
partial or total, as determined by the Board.

         "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended.

         "EXERCISE PRICE" means the price at which a holder of an Option may
purchase the Shares issuable upon exercise of the Option.

         "FAIR MARKET VALUE" means, as of any date, the value of a share of the
Company's Common Stock determined as follows:

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                  (a)      if such Common Stock is publicly traded and is then
                           listed on a national securities exchange, its closing
                           price on the date of determination on the principal
                           national securities exchange on which the Common
                           Stock is listed or admitted to trading as reported in
                           The Wall Street Journal;

                  (b)      if such Common Stock is quoted on the NASDAQ National
                           Market, its closing price on the NASDAQ National
                           Market on the date of determination as reported in
                           The Wall Street Journal;

                  (c)      if such Common Stock is publicly traded but is not
                           listed or admitted to trading on a national
                           securities exchange, the average of the closing bid
                           and asked prices on the date of determination as
                           reported by Bloomberg, L.P.;

                  (d)      in the case of an Award made on the Effective Date,
                           the price per share at which shares of the Company's
                           Common Stock are initially offered for sale to the
                           public by the Company's underwriters in the initial
                           public offering of the Company's Common Stock
                           pursuant to a registration statement filed with the
                           SEC under the Securities Act; or

                  (e)      if none of the foregoing is applicable, by the Board
                           in good faith.

         "INSIDER" means an officer or director of the Company or any other
person whose transactions in the Company's Common Stock are subject to Section
16 of the Exchange Act.

         "OPTION" means an award of an option to purchase Shares pursuant to
Section 6.

         "PARENT" means any corporation (other than the Company) in an unbroken
chain of corporations ending with the Company if each of such corporations other
than the Company owns stock possessing 50% or more of the total combined voting
power of all classes of stock in one of the other corporations in such chain.

         "PARTICIPANT" means a person who receives an Award under this Plan.

         "PERFORMANCE FACTORS" means the factors selected by the Board, in its
sole and absolute discretion, from among the following measures to determine
whether the performance goals applicable to Awards have been satisfied:

                  (a) Net revenue and/or net revenue growth;

                  (b) Earnings before income taxes and amortization and/or
earnings before income taxes and amortization growth;

                  (c) Operating income and/or operating income growth;

                  (d) Net income and/or net income growth;

                  (e) Earnings per share and/or earnings per share growth;

                  (f) Total stockholder return and/or total stockholder return
growth;

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                  (g) Return on equity;

                  (h) Operating cash flow return on income;

                  (i) Adjusted operating cash flow return on income;

                  (j) Economic value added; and

                  (k) Individual confidential business objectives.

         "PERFORMANCE PERIOD" means the period of service determined by the
Board, not to exceed five years, during which years of service or performance is
to be measured for Restricted Stock Awards or Stock Bonuses.

         "PLAN" means this Sub Surface Waste Management of Delaware, Inc.
2005-I Employee Stock Incentive Plan, as amended from time to time.

         "RESTRICTED STOCK AWARD" means an award of Shares pursuant to Section
7.

         "SEC" means the Securities and Exchange Commission.

         "SECURITIES ACT" means the Securities Act of 1933, as amended.

         "SHARES" means shares of the Company's Common Stock reserved for
issuance under this Plan, as adjusted pursuant to Sections 3 and 19, and any
successor security.

         "STOCK BONUS" means an award of Shares, or cash in lieu of Shares,
pursuant to Section 8.

         "SUBSIDIARY" means any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company if each of the
corporations other than the last corporation in the unbroken chain owns stock
possessing 50% or more of the total combined voting power of all classes of
stock in one of the other corporations in such chain.

         "TERMINATION" or "TERMINATED" means, for purposes of this Plan with
respect to a Participant, that the Participant has for any reason ceased to
provide services as an employee, officer, director, consultant, independent
contractor, or advisor to the Company or a Parent or Subsidiary of the Company.
An employee will not be deemed to have ceased to provide services in the case of
(i) sick leave, (ii) military leave, or (iii) any other leave of absence
approved by the Company, provided that such leave is for a period of not more
than 90 days, unless reemployment upon the expiration of such leave is
guaranteed by contract or statute or unless provided otherwise pursuant to a
formal policy adopted from time to time by the Company and issued and
promulgated to employees in writing. In the case of any employee on an approved
leave of absence, the Board may make such provisions respecting suspension of
vesting of the Award while on leave from the employ of the Company or a
Subsidiary as it may deem appropriate, except that in no event may an Option be
exercised after the expiration of the term set forth in the Option agreement.
The Board will have sole discretion to determine whether a Participant has
ceased to provide services and the effective date on which the Participant
ceased to provide services (the "TERMINATION DATE").

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         "UNVESTED SHARES" means "Unvested Shares" as defined in the Award
Agreement.

         "VESTED SHARES" means "Vested Shares" as defined in the Award
Agreement.

3.       SHARES SUBJECT TO THE PLAN.

         3.1 NUMBER OF SHARES AVAILABLE. Subject to Sections 3.2 and 19, the
total aggregate number of Shares reserved and available for grant and issuance
pursuant to this Plan will be 10,000,000 plus Shares that are subject to: (a)
issuance upon exercise of an Option but cease to be subject to such Option for
any reason other than exercise of such Option; (b) an Award granted hereunder
but forfeited or repurchased by the Company at the original issue price; and (c)
an Award that otherwise terminates without Shares being issued. At all times the
Company shall reserve and keep available a sufficient number of Shares as shall
be required to satisfy the requirements of all outstanding Options granted under
this Plan and all other outstanding but unvested Awards granted under this Plan.

         3.2 ADJUSTMENT OF SHARES. In the event that the number of outstanding
shares is changed by a stock dividend, recapitalization, stock split, reverse
stock split, subdivision, combination, reclassification or similar change in the
capital structure of the Company without consideration, then (a) the number of
Shares reserved for issuance under this Plan, (b) the Exercise Prices of and
number of Shares subject to outstanding Options, and (c) the number of Shares
subject to other outstanding Awards will be proportionately adjusted, subject to
any required action by the Board or the stockholders of the Company and
compliance with applicable securities laws; provided, however, that fractions of
a Share will not be issued but will either be replaced by a cash payment equal
to the Fair Market Value of such fraction of a Share or will be rounded up to
the nearest whole Share, as determined by the Board.

4.       ELIGIBILITY.

          ISOs (as defined in Section 6 below) may be granted only to employees
(including officers and directors who are also employees) of the Company or of a
Parent or Subsidiary of the Company. All other Awards may be granted to
employees, officers, directors, consultants, independent contractors and
advisors of the Company or any Parent or Subsidiary of the Company; provided
such consultants, contractors and advisors render bona fide services not in
connection with the offer and sale of securities in a capital-raising
transaction.

5.       ADMINISTRATION.

         5.1 BOARD AUTHORITY. This Plan will be administered by the Board.
Subject to the general purposes, terms and conditions of this Plan, the Board
will have full power to implement and carry out this Plan. Without limitation,
the Board will have the authority to:

                  (a)      construe and interpret this Plan, any Award Agreement
                           and any other agreement or document executed pursuant
                           to this Plan;

                  (b)      prescribe, amend and rescind rules and regulations
                           relating to this Plan or any Award;

                  (c)      select persons to receive Awards;

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                  (d)      determine the form and terms of Awards;

                  (e)      determine the number of Shares or other consideration
                           subject to Awards;

                  (f)      determine whether Awards will be granted singly, in
                           combination with, in tandem with, in replacement of,
                           or as alternatives to, other Awards under this Plan
                           or any other incentive or compensation plan of the
                           Company or any Parent or Subsidiary of the Company;

                  (g)      grant waivers of Plan or Award conditions;

                  (h)      determine the vesting, ability to exercise and
                           payment of Awards;

                  (i)      correct any defect, supply any omission or reconcile
                           any inconsistency in this Plan, any Award or any
                           Award Agreement;

                  (j)      determine whether an Award has been earned; and

                  (k)      make all other determinations necessary or advisable
                           for the administration of this Plan.

         5.2 BOARD DISCRETION. Any determination made by the Board with respect
to any Award will be made at the time of grant of the Award or, unless in
contravention of any express term of this Plan or Award, at any later time, and
such determination will be final and binding on the Company and on all persons
having an interest in any Award under this Plan. The Board may delegate to one
or more officers of the Company the authority to grant an Award under this Plan
to Participants who are not Insiders of the Company.

6.       OPTIONS.

          The Board may grant Options to eligible persons and will determine
whether such Options will be Incentive Stock Options within the meaning of the
Code ("ISO") or Nonqualified Stock Options ("NQSOS"), the number of Shares
subject to the Option, the Exercise Price of the Option, the period during which
the Option may be exercised, and all other terms and conditions of the Option,
subject to the following:

         6.1 FORM OF OPTION GRANT. Each Option granted under this Plan will be
evidenced by an Award Agreement that will expressly identify the Option as an
ISO or an NQSO (hereinafter referred to as the "STOCK OPTION AGREEMENT"), and
will be in such form and contain such provisions (which need not be the same for
each Participant) as the Board may from time to time approve, and which will
comply with and be subject to the terms and conditions of this Plan.

         6.2 DATE OF GRANT. The date of grant of an Option will be the date on
which the Board makes the determination to grant such Option, unless otherwise
specified by the Board. The Stock Option Agreement and a copy of this Plan will
be delivered to the Participant within a reasonable time after the granting of
the Option.

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         6.3 EXERCISE PERIOD. Options may be exercisable within the times or
upon the events determined by the Board as set forth in the Stock Option
Agreement governing such Option; provided, however, that no Option will be
exercisable after the expiration of ten (10) years from the date the Option is
granted; and provided further that no ISO granted to a person who directly or by
attribution owns more than ten percent (10%) of the total combined voting power
of all classes of stock of the Company or of any Parent or Subsidiary of the
Company ("TEN PERCENT STOCKHOLDER") will be exercisable after the expiration of
five (5) years from the date the ISO is granted. The Board also may provide for
Options to become exercisable at one time or from time to time, periodically or
otherwise, in such number of Shares or percentage of Shares as the Board
determines.

         6.4 EXERCISE PRICE. The Exercise Price of an Option will be determined
by the Board when the Option is granted and may be not less than 85% of the Fair
Market Value of the Shares on the date of grant; provided that: (a) the Exercise
Price of an ISO will be not less than 100% of the Fair Market Value of the
Shares on the date of grant; and (b) the Exercise Price of any ISO granted to a
Ten Percent Stockholder will not be less than 110% of the Fair Market Value of
the Shares on the date of grant. Payment for the Shares purchased may be made in
accordance with Section 9 of this Plan.

         6.5 METHOD OF EXERCISE. Options may be exercised only by delivery to
the Company of a written stock option exercise agreement (the "EXERCISE
AGREEMENT") in a form approved by the Board, (which need not be the same for
each Participant), stating the number of Shares being purchased, the
restrictions imposed on the Shares purchased under such Exercise Agreement, if
any, and such representations and agreements regarding Participant's investment
intent and access to information and other matters, if any, as may be required
or desirable by the Company to comply with applicable securities laws, together
with payment in full of the Exercise Price for the number of Shares being
purchased.

         6.6 TERMINATION. Notwithstanding the exercise periods set forth in the
Stock Option Agreement, exercise of an Option will always be subject to the
following:

                 (a) If the Participant's service is Terminated for any reason
except death or Disability, then the Participant may exercise such Participant's
Options only to the extent that such Options would have been exercisable upon
the Termination Date no later than three (3) months after the Termination Date
(or such shorter or longer time period not exceeding five (5) years as may be
determined by the Board, with any exercise beyond three (3) months after the
Termination Date deemed to be an NQSO), but in any event, no later than the
expiration date of the Options.

                 (b) If the Participant's service is Terminated because of
Participant's death or Disability (or the Participant dies within three (3)
months after a Termination other than for Cause or because of Participant's
Disability), then Participant's Options may be exercised only to the extent that
such Options would have been exercisable by Participant on the Termination Date
and must be exercised by Participant (or Participant's legal representative or
authorized assignee) no later than twelve (12) months after the Termination Date
(or such shorter or longer time period not exceeding five (5) years as may be
determined by the Board, with any such exercise beyond (i) three (3) months
after the Termination Date when the Termination is for any reason other than the
Participant's death or Disability, or (ii) twelve (12) months after the
Termination Date when the Termination is for Participant's death or Disability,
deemed to be an NQSO), but in any event no later than the expiration date of the
Options.

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                  (c) Notwithstanding the provisions in paragraph 6.6(a) above,
if a Participant's service is Terminated for Cause, neither the Participant, the
Participant's estate nor such other person who may then hold the Option shall be
entitled to exercise any Option with respect to any Shares whatsoever, after
Termination, whether or not after Termination the Participant may receive
payment from the Company or Subsidiary for vacation pay, for services rendered
prior to Termination, for services rendered for the day on which Termination
occurs, for salary in lieu of notice, or for any other benefits. For the purpose
of this paragraph, Termination shall be deemed to occur on the date when the
Company dispatches notice or advice to the Participant that his service is
Terminated.

         6.7 LIMITATIONS ON EXERCISE. The Board may specify a reasonable minimum
number of Shares that may be purchased on any exercise of an Option, provided
that such minimum number will not prevent Participant from exercising the Option
for the full number of Shares for which it is then exercisable.

         6.8 LIMITATIONS ON ISO. The aggregate Fair Market Value (determined as
of the date of grant) of Shares with respect to which ISO are exercisable for
the first time by a Participant during any calendar year (under this Plan or
under any other incentive stock option plan of the Company, Parent or Subsidiary
of the Company) will not exceed $100,000. If the Fair Market Value of Shares on
the date of grant with respect to which ISO are exercisable for the first time
by a Participant during any calendar year exceeds $100,000, then the Options for
the first $100,000 worth of Shares to become exercisable in such calendar year
will be ISO and the Options for the amount in excess of $100,000 that become
exercisable in that calendar year will be NQSOs. In the event that the Code or
the regulations promulgated thereunder are amended after the Effective Date of
this Plan to provide for a different limit on the Fair Market Value of Shares
permitted to be subject to ISO, such different limit will be automatically
incorporated herein and will apply to any Options granted after the effective
date of such amendment.

         6.9 MODIFICATION, EXTENSION OR RENEWAL. The Board may modify, extend or
renew outstanding Options and authorize the grant of new Options in substitution
therefor, provided that any such action may not, without the written consent of
a Participant, impair any of such Participant's rights under any Option
previously granted. Any outstanding ISO that is modified, extended, renewed or
otherwise altered will be treated in accordance with Section 424(h) of the Code.
The Board may reduce the Exercise Price of outstanding Options without the
consent of Participants affected by a written notice to them; provided, however,
that the Exercise Price may not be reduced below the minimum Exercise Price that
would be permitted under Section 6.4 of this Plan for Options granted on the
date the action is taken to reduce the Exercise Price.

         6.10 NO DISQUALIFICATION. Notwithstanding any other provision in this
Plan, no term of this Plan relating to ISO will be interpreted, amended or
altered, nor will any discretion or authority granted under this Plan be
exercised, so as to disqualify this Plan under Section 422 of the Code or,
without the consent of the Participant affected, to disqualify any ISO under
Section 422 of the Code.

7.       STOCK AWARD.

                  A Stock Award is an offer by the Company to sell to an
eligible person Shares that may or may not be subject to restrictions. The Board
will determine to whom an offer will be made, the number of Shares the person
may purchase, the price to be paid (the "PURCHASE PRICE"), the restrictions to
which the Shares will be subject, and all other terms and conditions of the
Stock Award, subject to the following:

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         7.1 FORM OF STOCK AWARD. All purchases under a Stock Award made
pursuant to this Plan will be evidenced by an Award Agreement (the "STOCK
PURCHASE AGREEMENT") that will be in such form (which need not be the same for
each Participant) as the Board will from time to time approve, and will comply
with and be subject to the terms and conditions of this Plan. The offer of Stock
will be accepted by the Participant's execution and delivery of the Stock
Purchase Agreement and full payment for the Shares to the Company within thirty
(30) days from the date the Stock Purchase Agreement is delivered to the person.
If such person does not execute and deliver the Stock Purchase Agreement along
with full payment for the Shares to the Company within thirty (30) days, then
the offer will terminate, unless otherwise extended by the Board.

         7.2 PURCHASE PRICE. The Purchase Price of Shares sold pursuant to a
Stock Award will be determined by the Board on the date the Stock Award is
granted, except in the case of a sale to a Ten Percent Stockholder, in which
case the Purchase Price will be 100% of the Fair Market Value. Payment of the
Purchase Price must be made in accordance with Section 9 of this Plan.

         7.3 TERMS OF STOCK AWARDS. Stock Awards shall be subject to such
restrictions as the Board may impose. These restrictions may be based upon
completion of a specified number of years of service with the Company or upon
completion of the performance goals as set out in advance in the Participant's
individual Stock Purchase Agreement. Stock Awards may vary from Participant to
Participant and between groups of Participants. Prior to the grant of a Stock
Award, the Board shall: (a) determine the nature, length and starting date of
any Performance Period for the Stock Award; (b) select from among the
Performance Factors to be used to measure performance goals, if any; and (c)
determine the number of Shares that may be awarded to the Participant. Prior to
the payment of any Stock Award, the Board shall determine the extent to which
such Stock Award has been earned. Performance Periods may overlap and
Participants may participate simultaneously with respect to Stock Awards that
are subject to different Performance Periods and have different performance
goals and other criteria.

         7.4 TERMINATION DURING PERFORMANCE PERIOD. If a Participant is
Terminated during a Performance Period for any reason, then such Participant
will be entitled to payment (whether in Shares, cash or otherwise) with respect
to the Stock Award only to the extent earned as of the date of Termination in
accordance with the Stock Purchase Agreement, unless the Board determines
otherwise.

8.       STOCK BONUSES.

         8.1 AWARDS OF STOCK BONUSES. A Stock Bonus is an award of Shares (which
may consist of Restricted Stock) for extraordinary services rendered to the
Company or any Parent or Subsidiary of the Company. A Stock Bonus will be
awarded pursuant to an Award Agreement (the "STOCK BONUS AGREEMENT") that will
be in such form (which need not be the same for each Participant) as the Board
will from time to time approve, and will comply with and be subject to the terms
and conditions of this Plan. A Stock Bonus may be awarded upon satisfaction of
such performance goals as are set out in advance in the Participant's individual
Award Agreement (the "PERFORMANCE STOCK BONUS AGREEMENT") that will be in such
form (which need not be the same for each Participant) as the Board will from
time to time approve, and will comply with and be subject to the terms and
conditions of this Plan. Stock Bonuses may vary from Participant to Participant
and between groups of Participants, and may be based upon the achievement of the
Company, Parent or Subsidiary and/or individual performance factors or upon such
other criteria as the Board may determine.

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         8.2 TERMS OF STOCK BONUSES. The Board will determine the number of
Shares to be awarded to the Participant. If the Stock Bonus is being earned upon
the satisfaction of performance goals pursuant to a Performance Stock Bonus
Agreement, then the Board will: (a) determine the nature, length and starting
date of any Performance Period for each Stock Bonus; (b) select from among the
Performance Factors to be used to measure the performance, if any; and (c)
determine the number of Shares that may be awarded to the Participant. Prior to
the payment of any Stock Bonus, the Board shall determine the extent to which
such Stock Bonuses have been earned. Performance Periods may overlap and
Participants may participate simultaneously with respect to Stock Bonuses that
are subject to different Performance Periods and different performance goals and
other criteria. The number of Shares may be fixed or may vary in accordance with
such performance goals and criteria as may be determined by the Board. The Board
may adjust the performance goals applicable to the Stock Bonuses to take into
account changes in law and accounting or tax rules and to make such adjustments
as the Board deems necessary or appropriate to reflect the impact of
extraordinary or unusual items, events or circumstances to avoid windfalls or
hardships.

         8.3 FORM OF PAYMENT. The earned portion of a Stock Bonus may be paid to
the Participant by the Company either currently or on a deferred basis, with
such interest or dividend equivalent, if any, as the Board may determine.
Payment may be made in the form of cash or whole Shares or a combination
thereof, either in a lump sum payment or in installments, all as the Board will
determine.

9.       PAYMENT FOR SHARE PURCHASES.

         9.1 PAYMENT. Payment for Shares purchased pursuant to this Plan may be
made in cash (by check) or, where expressly approved for the Participant by the
Board and where permitted by law:

                  (a)      by cancellation of indebtedness of the Company to the
                           Participant;

                  (b)      by surrender of shares that either: (1) have been
                           owned by Participant for more than one year and have
                           been paid for within the meaning of Rule 144 of the
                           Securities Act of 1933 (and, if such shares were
                           purchased from the Company by use of a promissory
                           note, such note has been fully paid with respect to
                           such shares); or (2) were obtained by Participant in
                           the public market;

                  (c)      by waiver of compensation due or accrued to the
                           Participant for services rendered;

                  (d)      with respect only to purchases upon exercise of an
                           Option, and provided that a public market for the
                           Company's stock exists:

                           (1)      through a "same day sale" commitment from
                                    the Participant and a broker-dealer that is
                                    a member of the National Association of
                                    Securities Dealers (an "NASD DEALER")
                                    whereby the Participant irrevocably elects
                                    to exercise the Option and to sell a portion
                                    of the Shares so purchased to pay for the
                                    Exercise Price, and whereby the NASD Dealer
                                    irrevocably commits upon receipt of such
                                    Shares to forward the Exercise Price
                                    directly to the Company; or

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                           (2)      through a "margin" commitment from the
                                    Participant and a NASD Dealer whereby the
                                    Participant irrevocably elects to exercise
                                    the Option and to pledge the Shares so
                                    purchased to the NASD Dealer in a margin
                                    account as security for a loan from the NASD
                                    Dealer in the amount of the Exercise Price,
                                    and whereby the NASD Dealer irrevocably
                                    commits upon receipt of such Shares to
                                    forward the Exercise Price directly to the
                                    Company; or

                  (e)      by any combination of the foregoing.

10.      WITHHOLDING TAXES.

         10.1 WITHHOLDING GENERALLY. Whenever Shares are to be issued in
satisfaction of Awards granted under this Plan, the Company may require the
Participant to remit to the Company an amount sufficient to satisfy federal,
state and local withholding tax requirements prior to the delivery of any
certificate or certificates for such Shares. Whenever, under this Plan, payments
in satisfaction of Awards are to be made in cash, such payment will be net of an
amount sufficient to satisfy federal, state, and local withholding tax
requirements.

         10.2 STOCK WITHHOLDING. When, under applicable tax laws, a participant
incurs tax liability in connection with the exercise or vesting of any Award
that is subject to tax withholding and the Participant is obligated to pay the
Company the amount required to be withheld, the Board may allow the Participant
to satisfy the minimum withholding tax obligation by electing to have the
Company withhold from the Shares to be issued that number of Shares having a
Fair Market Value equal to the minimum amount required to be withheld,
determined on the date that the amount of tax to be withheld is to be
determined. All elections by a Participant to have Shares withheld for this
purpose will be made in accordance with the requirements established by the
Board and be in writing in a form acceptable to the Board.

11.      PRIVILEGES OF STOCK OWNERSHIP.

         11.1 VOTING AND DIVIDENDS. No Participant will have any of the rights
of a stockholder with respect to any Shares until the Shares are issued to the
Participant. After Shares are issued to the Participant, the Participant will be
a stockholder and will have all the rights of a stockholder with respect to such
Shares, including the right to vote and receive all dividends or other
distributions made or paid with respect to such Shares; provided, that if such
Shares are Restricted Stock, then any new, additional or different securities
the Participant may become entitled to receive with respect to such Shares by
virtue of a stock dividend, stock split or any other change in the corporate or
capital structure of the Company will be subject to the same restrictions as the
Restricted Stock; provided, further, that the Participant will have no right to
retain such stock dividends or stock distributions with respect to Shares that
are repurchased at the Participant's Purchase Price or Exercise Price pursuant
to Section 12.

         11.2 FINANCIAL STATEMENTS. Pursuant to regulation 260.140.46 of the
Rules of the California Corporations Commissioner, the Company will provide
financial statements to each Participant prior to such Participant's purchase of
Shares under this Plan, and to each Participant annually during the period such
Participant has Awards outstanding; provided, however, the Company will not be
required to provide such financial statements to Participants whose services in
connection with the Company assure them access to equivalent information.

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12.      TRANSFERABILITY.

         Awards granted under this Plan, and any interest therein, will not be
transferable or assignable by Participant, and may not be made subject to
execution, attachment or similar process, other than by will or by the laws of
descent and distribution. During the lifetime of the Participant an Award will
be exercisable only by the Participant. During the lifetime of the Participant,
any elections with respect to an Award may be made only by the Participant
unless otherwise determined by the Board and set forth in the Award Agreement
with respect to Awards that are not ISOs.

13.      RESTRICTIONS ON SHARES.

         At the discretion of the Board, the Company may reserve to itself
and/or its assignee(s) in the Award Agreement a right to repurchase a portion of
or all Unvested Shares held by a Participant following such Participant's
Termination at any time within ninety (90) days after the later of (a)
Participant's Termination Date, or (b) the date Participant purchases Shares
under this Plan. Such repurchase by the Company shall be for cash and/or
cancellation of purchase money indebtedness, and the price per share shall be
the Participant's Exercise Price or the Purchase Price, as applicable.

14.      CERTIFICATES.

         All certificates for Shares or other securities delivered under this
Plan will be subject to such stock transfer orders, legends and other
restrictions as the Board may deem necessary or advisable, including
restrictions under any applicable federal, state or foreign securities law, or
any rules, regulations and other requirements of the SEC or any stock exchange
or automated quotation system upon which the Shares may be listed or quoted.

15.      ESCROW; PLEDGE OF SHARES.

         To enforce any restrictions on a Participant's Shares, the Board may
require the Participant to deposit all certificates representing Shares,
together with stock powers or other instruments of transfer approved by the
Board appropriately endorsed in blank, with the Company or an agent designated
by the Company to hold in escrow until such restrictions have lapsed or
terminated, and the Board may cause a legend or legends referencing such
restrictions to be placed on the certificates. Any Participant who is permitted
to execute a promissory note as partial or full consideration for the purchase
of Shares under this Plan will be required to pledge and deposit with the
Company all or part of the Shares so purchased as collateral to secure the
payment of Participant's obligation to the Company under the promissory note;
provided, however, that the Board may require or accept other or additional
forms of collateral to secure the payment of such obligation and, in any event,
the Company will have full recourse against the Participant under the promissory
note notwithstanding any pledge of the Participant's Shares or other collateral.
In connection with any pledge of the Shares, Participant will be required to
execute and deliver a written pledge agreement in such form as the Board will
from time to time approve. The Shares purchased with the promissory note may be
released from the pledge on a pro rata basis as the promissory note is paid.

                                       11
<PAGE>

16.      EXCHANGE AND BUYOUT OF AWARDS.

         The Board may, at any time or from time to time, authorize the Company,
with the consent of the respective Participants, to issue new Awards in exchange
for the surrender and cancellation of any or all outstanding Awards. The Board
may at any time buy from a Participant an Award previously granted with payment
in cash, Shares (including Restricted Stock) or other consideration, based on
such terms and conditions as the Board and the Participant may agree.

17.      SECURITIES LAW AND OTHER REGULATORY COMPLIANCE.

         An Award will not be effective unless such Award is in compliance with
all applicable federal and state securities laws, rules and regulations of any
governmental body, and the requirements of any stock exchange or automated
quotation system upon which the Shares may then be listed or quoted, as they are
in effect on the date of grant of the Award and also on the date of exercise or
other issuance. Notwithstanding any other provision in this Plan, the Company
will have no obligation to issue or deliver certificates for Shares under this
Plan prior to: (a) obtaining any approvals from governmental agencies that the
Company determines are necessary or advisable; and/or (b) completion of any
registration or other qualification of such Shares under any state or federal
law or ruling of any governmental body that the Company determines to be
necessary or advisable. The Company will be under no obligation to register the
Shares with the SEC or to effect compliance with the registration, qualification
or listing requirements of any state securities laws, stock exchange or
automated quotation system, and the Company will have no liability for any
inability or failure to do so.

18.      NO OBLIGATION TO EMPLOY.

         Nothing in this Plan or any Award granted under this Plan will confer
or be deemed to confer on any Participant any right to continue in the employ
of, or to continue any other relationship with, the Company or any Parent or
Subsidiary of the Company or limit in any way the right of the Company or any
Parent or Subsidiary of the Company to terminate Participant's employment or
other relationship at any time, with or without cause.

19.      CORPORATE TRANSACTIONS.

         19.1 ASSUMPTION OR REPLACEMENT OF AWARDS BY SUCCESSOR. In the event of
(a) a dissolution or liquidation of the Company, (b) a merger or consolidation
in which the Company is not the surviving corporation (other than a merger or
consolidation with a wholly-owned subsidiary, a reincorporation of the Company
in a different jurisdiction, or other transaction in which there is no
substantial change in the stockholders of the Company or their relative stock
holdings and the Awards granted under this Plan are assumed, converted or
replaced by the successor corporation, which assumption will be binding on all
Participants), (c) a merger in which the Company is the surviving corporation
but after which the stockholders of the Company immediately prior to such merger
(other than any stockholder that merges, or which owns or controls another
corporation that merges, with the Company in such merger) cease to own their
shares or other equity interest in the Company, (d) the sale of substantially
all of the assets of the Company, or (e) the acquisition, sale, or transfer of
more than 50% of the outstanding shares of the Company by tender offer or
similar transaction, any or all outstanding Awards may be assumed, converted or
replaced by the successor corporation (if any), which assumption, conversion or
replacement will be binding on all Participants. In the alternative, the
successor corporation may substitute equivalent Awards or provide substantially
similar consideration to Participants as was provided to stockholders (after
taking into account the existing provisions of the Awards). The successor
corporation may also issue, in place of outstanding Shares of the Company held
by the Participant, substantially similar shares or other property subject to
repurchase restrictions no less favorable to the Participant. In the event such

                                       12
<PAGE>

successor corporation (if any) refuses to assume or substitute Awards, as
provided above, pursuant to a transaction described in this Subsection 19.1,
such Awards will expire on such transaction at such time and on such conditions
as the Board will determine. Notwithstanding anything in this Plan to the
contrary, the Board may provide that the vesting of any or all Awards granted
pursuant to this Plan will accelerate upon a transaction described in this
Section 19. If the Board exercises such discretion with respect to Options, such
Options will become exercisable in full prior to the consummation of such event
at such time and on such conditions as the Board determines, and if such Options
are not exercised prior to the consummation of the corporate transaction, they
shall terminate at such time as determined by the Board.

         19.2 OTHER TREATMENT OF AWARDS. Subject to any greater rights granted
to Participants under the foregoing provisions of this Section 19, in the event
of the occurrence of any transaction described in Section 19.1, any outstanding
Awards will be treated as provided in the applicable agreement or plan of
merger, consolidation, dissolution, liquidation, or sale of assets.

         19.3 ASSUMPTION OF AWARDS BY THE COMPANY. The Company, from time to
time, also may substitute or assume outstanding awards granted by another
company, whether in connection with an acquisition of such other company or
otherwise, by either: (a) granting an Award under this Plan in substitution of
such other company's award; or (b) assuming such award as if it had been granted
under this Plan if the terms of such assumed award could be applied to an Award
granted under this Plan. Such substitution or assumption will be permissible if
the holder of the substituted or assumed award would have been eligible to be
granted an Award under this Plan if the other company had applied the rules of
this Plan to such grant. In the event the Company assumes an award granted by
another company, the terms and conditions of such award will remain unchanged
(except that the exercise price and the number and nature of Shares issuable
upon exercise of any such option will be adjusted appropriately pursuant to
Section 424(a) of the Code). In the event the Company elects to grant a new
Option rather than assuming an existing option, such new Option may be granted
with a similarly adjusted Exercise Price.

20.      ADOPTION AND STOCKHOLDER APPROVAL.

         This Plan will become effective on the date on which it is adopted by
the Board (the "EFFECTIVE DATE"). This Plan shall be approved by the
stockholders of the Company within twelve (12) months before or after the date
this Plan is adopted by the Board. Upon the Effective Date, the Board may grant
Awards pursuant to this Plan. In the event that stockholder approval of this
Plan is not obtained within the time period provided herein, all Awards granted
hereunder shall be cancelled, any Shares issued pursuant to any Awards shall be
cancelled and any purchase of Shares issued hereunder shall be rescinded.

21.      TERM OF PLAN/GOVERNING LAW.

         Unless earlier terminated as provided herein, this Plan will terminate
ten (10) years from the date this Plan is adopted by the Board or, if earlier,
the date of stockholder approval. This Plan and all agreements thereunder shall
be governed by and construed in accordance with the laws of the State of
California.

22.      AMENDMENT OR TERMINATION OF PLAN.

         The Board may at any time terminate or amend this Plan in any respect,
including without limitation amendment of any form of Award Agreement or
instrument to be executed pursuant to this Plan; provided, however, that the
Board will not, without the approval of the stockholders of the Company, amend
this Plan in any manner that requires such stockholder approval.

                                       13
<PAGE>

23.      NONEXCLUSIVITY OF THE PLAN.

         Neither the adoption of this Plan by the Board, the submission of this
Plan to the stockholders of the Company for approval, nor any provision of this
Plan will be construed as creating any limitations on the power of the Board to
adopt such additional compensation arrangements as it may deem desirable,
including, without limitation, the granting of stock options and bonuses
otherwise than under this Plan, and such arrangements may be either generally
applicable or applicable only in specific cases.

24.      ACTION BY BOARD.

         Any action permitted or required to be taken by the Board or any
decision or determination permitted or required to be made by the Board pursuant
to this Plan shall be taken or made in the Board's sole and absolute discretion.

                                    * * * * *

                                       14<PAGE>

February 14, 2005

CONFIDENTIAL
------------
Mr. Robert Tarini
Chairman & CEO
Technest Holdings, Inc.
90 Grove Street
Ridgefield, CT 06877

         This letter agreement (this "Agreement") confirms the engagement of
Greenfield Capital Partners, LLC., a Delaware limited liability company
("GREENFIELD") by Technest Holdings, Inc., (the "COMPANY") to act as: (i) the
Company's exclusive placement agent ("PLACEMENT AGENT") to arrange the issuance
by the Company of debt securities (including, without limitation, senior or
subordinated debt, secured or unsecured debt, or bank debt) ("Debt"), equity
securities or any securities (including debt securities, preferred stock or
warrants) convertible or exercisable into, or exchangeable for, equity
securities (collectively, "EQUITY SECURITIES" and, together with Debt,
"SECURITIES"), and (ii) the Company's exclusive financial advisor ("FINANCIAL
ADVISOR") to perform the following financial advisory and investment banking
services:

                  (a) assisting the Company in analyzing its business,
operations, properties, financial condition and prospects and/or analyzing the
business, operations, properties, financial conditions and prospects of a third
party entity;

                  (b) assisting the Company in preparation of materials
(including a private placement memorandum) describing the Company for
distribution and presentation to parties that might be interested in a Financing
or a transaction on behalf of the Company (it being understood that all such
materials shall be the responsibility of the Company);

                  (c) advising the Company as to strategy and tactics for
negotiations related to a financing or a transaction and, if requested by the
Company, participating in such negotiations;

                  (d) assisting and advise the Company with respect to the form
and structure of a financing or a transaction, including financing alternatives,
and with the preparation of letters of intent or term sheets relating to a
financing Or a transaction; and

                  (e) rendering such other financial advisory and investment
banking services as may from time to time be agreed upon in writing by
Greenfield and the Company,

The sale of Securities (a "FINANCING" or "FINANCINGS") may occur through a
private placement pursuant to one or more exemptions from registration under the
Securities Act of 1933, as amended (the "SECURITIES Act"), and in compliance
with applicable state securities laws ("BLUE SKY LAWS").

         1. RETENTION. (a) Subject to the terms and conditions of this
Agreement, the Company hereby engages Greenfield to act on behalf of the
Company: (i) as its exclusive Placement Agent during the Authorization Period
(as defined in Section 2 below) to arrange for the sale of Securities in an
amount and on terms and conditions satisfactory to the Company, and (ii) to act
as its exclusive Financial Advisor during the Authorization Period with respect
to a Transaction (as defined in Section 4(c) below), and Greenfield hereby
accepts such engagement on the terns and conditions hereof. During the
Authorization Period, except for Greenfield; the Company will not retain or
consult with any person or entity to provide such services to the Company or any
of its subsidiaries or affiliates.

                  (b) To the extent Greenfield is requested by the Company to
perform any financial advisory or investment banking services which are not
within the scope of this Agreement as described herein (such as rendering a
fairness opinion), the payment of any fees to Greenfield in respect of such
services shall be mutually agreed upon by Greenfield and the Company in writing,
IN advance, depending on the level and type of services required, and shall be
in addition to the fees and expenses described herein. Except as set forth in
the immediately preceding sentence, if Greenfield is legally required to render
services directly or indirectly relating to the subject matter of this Agreement
(including, but not limited to, producing documents, answering interrogatories,
giving depositions, giving expert or other

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Greenfield Capital Partners LLC

Page 2

testimony, and whether by subpoena, court process or order or otherwise), the
Company shall pay Greenfield's then current hourly rates for the persons
involved by the time expended in rendering such services, including, but not
Limited to, time for meetings, conferences, preparation and travel, and all
related reasonable out-of-pocket costs and expenses, and the reasonable legal
fees and expenses of Greenfield's legal counsel incurred in connection
therewith.

          2. AUTHORIZATION PERIOD. Greenfield's engagement under this Agreement
shall become effective on the date of this Agreement and, unless extended by the
Company and Greenfield in writing, shall expire one hundred eighty days (180
days) after the date of this Agreement or terminated earlier as provided for
herein ("AUTHORIZATION PERIOD"). Greenfield shall be entitled to terminate its
engagement hereunder at any time upon ten (10) days prior written notice to the
Company. The Company agrees that neither it, its controlling equity holders, nor
its management will initiate any discussions regarding a Financing or a
Transaction with any prospective investor in Securities or any Person (as
defined below) during the term of this Agreement; except through Greenfield. In
the event the Company or the Company's management receive any inquiry regarding
a Financing or a Transaction ON or after the effective date of this agreement,
Greenfield will be promptly informed of such inquiry so that they can evaluate
investor or Person party and its interest in a Financing or a Transaction; and
assist the Company in any resulting negotiations. For purposes of this
Agreement, "PERSON" shall mean any natural person, corporation, unincorporated
organization, partnership, limited liability company, association, joint stock
company, joint venture, trust or government or any agency or political
subdivision of any government or any other entity.

           3. COMPENSATION FOR FINANCING. Upon the closing of a Financing THE
Company shall pay Greenfield the compensation set forth below:

                  (a) CASH FEE FOR EQUITY FINANCING. The Company shall pay
Greenfield a cash placement fee equal to ten percent (10.0%) of any gross
proceeds received by the Company in connection with the portion of any Financing
placed by Greenfield in which Equity Securities are issued by the Company (an
"EQUITY FINANCING"). In addition, the Company shall pay to Greenfield a
non-accountable cash allowance of three percent (3.0%) of any gross proceeds
received by the Company in connection with any Equity Financing. Both the cash
placement fee and cash allowance shall apply to the financing transaction
involving Genex Technologies, Inc. that was initiated prior to this agreement.
The cash placement fee and the non-accountable cash allowance shall be paid by
wire transfer on the closing of the financing (and such payment shall be a
condition of the closing), except with respect to consideration which is
contingent upon the occurrence of some future event which shall be paid by the
Company to Greenfield upon receipt of such consideration by the Company,
Greenfield shall act as solicitation agent on behalf of the Company in
connection with the exercise of warrants ("INVESTOR WARRANTS") issued to any
investors in connection with a Financing and shall pay Greenfield a cash fee of
thirteen percent (13.0%) of the gross proceeds received by the Company in
connection with the exercise of such Investor Warrants.

                  (b) CASH FEES FOR DEBT FINANCING. The Company shall pay
Greenfield a cash placement fee equal to ten percent (10%) of any gross proceeds
received by the Company in connection with any debt financing by the Company
including the issuance of Debt Securities which are not convertible or
exchangeable into equity security (a "DEBT FINANCING"), In addition, the Company
shall pay to Greenfield a non-accountable cash allowance of three percent (3.0%)
on any gross proceeds received by the Company in connection with any Debt
Financing. In the case of a committed Debt Financing, the placement fee will be
calculated based on the aggregate amount committed to the Company from investors
in the Debt Financing. The cash placement fee shall be paid by wire transfer on
the closing of the Debt Financing (and such payment shall be a condition of the
closing).

          4. TAIL PERIOD. The Company shall, and shall cause its affiliates to,
pay to Greenfield all compensation described in Section 3 with respect to all
Securities sold to an investor or investors and with respect to any Transaction
entered into with any Person at any time prior to the expiration of two (2)
years after the expiration of the Authorization Period (the "TAIL PERIOD") if
(i) such investor or investors (or their affiliates) were identified in writing
to the Company by Greenfield during the Authorization Period, or (ii) upon
written request of the Company, Greenfield advised the Company with respect TO
such investor or investors during the Authorization Period, or (iii) a closing
of a Transaction occurs within six (6) months following the expiration of the
Tail Period.

         5. REIMBURSEMENTS. If a sale of Securities to be placed by Greenfield
(and otherwise acceptable to the Transaction is not consummated by the Company
during the Authorization Period due to (i) the

<PAGE>

Greenfield Capital Partners LLC

Page 3

occurrence of an event which is reasonably likely to have a material adverse
effect on the business, financial condition, results of operations or future
prospects of the Company, or (ii) Greenfield discovers facts or events which a
reasonable person engaged in the business of investment banking is likely to
conclude that reports or registration statements filed by the Company, or other
public disclosure made by the Company contains an untrue statement of material
fact or omits to state material facts which should have been disclosed therein,
the Company shall reimburse Greenfield for all of its reasonable out-of-pocket
expenses, not to exceed $50,000, incurred in connection with its engagement,
including the fees and disbursements of counsel for Greenfield and the expenses
of any travel that may be necessary, upon provision of reasonable documentation
of such expenses. If any Financing or Transaction is consummated, the
non-accountable cash allowance set forth in Section 3(a) and Section 4(a) hereof
shall constitute payment of all such expenses TO the extent paid by the Company
and no additional obligation with respect to such expenses shall exist.

         6. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. The
Company represents, warrants, and covenants to Greenfield as follows:

                  (a) Neither the Company nor any person acting on its behalf
has taken, and the Company shall not and shall not permit its affiliates to
take, directly or indirectly, any action so as to cause any of the transactions
contemplated by this Agreement to not be exempt from registration or
qualification under all applicable securities laws or which constitutes general
advertising or general solicitation (as those terms are used in Regulation D
under the Securities Act) with respect to the Securities.

                  (b) The Company shall take and shall cause its affiliates to
take such actions as may be required to comply with this Agreement in all
respects.

                  (c) The Company will furnish, or cause to be furnished, to
Greenfield such information as Greenfield believes necessary or appropriate to
its engagement hereunder (all such information, the "INFORMATION"), and the
Company represents that all such Information will be accurate and complete in
all material respects. The Company will promptly notify Greenfield of any change
that may be material to such information. It is understood that Greenfield will
be entitled to rely on and use the Information and other information that is
publicly available without independent verification, and will not be responsible
in any respect for the accuracy, completeness or reasonableness of all such
information or to conduct any independent verification or any appraisal or
physical inspection of properties or assets. The Company acknowledges that
Greenfield has not made and is not making any independent evaluation of the
Company or its assets in performing services hereunder as the Company's
Placement Agent or Financial Advisor.

         7. INDEMNIFICATION. The Company agrees to the indemnification
provisions and other agreements set forth on SCHEDULE A attached hereto and made
a part hereof, all of the provisions of which are incorporated herein by
reference and made a part of this Agreement as if set forth in full herein.

         8. ADVERTISEMENTS. The Company agrees that Greenfield has the right to
place advertisements in financial and other newspapers, journals, websites or
otherwise publicize, at its option and expense, describing its services to the
Company hereunder to the extent such services result in a consummated Financing
or Transaction, including, without limitation; the reproduction of the Company's
logo and a hyperlink to the Company's website. The foregoing shall also include
placement of a tombstone on the corporate website of Greenfield. If requested by
Greenfield, the Company shall include a mutually acceptable reference to
Greenfield in any press release or other public announcement made by the Company
regarding the matters described in this Agreement. The Company agrees that it
shall not use Greenfield's name, nor the name of any of its employees,
representatives or affiliates in any public manner without the prior written
consent from Greenfield, which consent shall not be unreasonably withheld.

         9, CERTAIN PROVISIONS. Greenfield's rights to compensation (which term
includes all fees, amounts and Placement Agent Warrants or Debt Placement Agent
Warrants due or which may become due) shall remain operative and in full force
and effect regardless of (i) any withdrawal, termination or consummation of or,
in the case of the expense, indemnification, reimbursement, advertisements, and
contribution obligations of the Company, failure to initiate or consummate any
transaction described herein or (ii) any termination or the completion or
expiration of this Agreement.

         10.0 NOTICES. All notices, demands, consents, requests, instructions
and other communications to be given or delivered or permitted under or by
reason of the provisions of this Agreement or in connection with the
transactions contemplated hereby shall be in writing and shall be deemed to be
delivered and received by the

<PAGE>

Greenfield Capital Partners LLC

Page 4

intended recipient as follows: (a) if personally delivered, on the business day
of such delivery (as evidenced by the receipt of the personal delivery service),
(b) if mailed certified or registered mail return receipt requested, four (4)
business days after being mailed, (c) if delivered by overnight courier (with
all charges having been prepaid), on the business day of such delivery (as
evidenced by the receipt of the overnight courier service of recognized
standing), or (d) if delivered by facsimile transmission, on the business day of
such delivery if sent by 6:00 p.m. in the time zone of the recipient, or if sent
after that time, on the next succeeding business day (as evidenced by the
printed confirmation of delivery generated by the sending party's facsimile
machine). If any notice, demand, consent, request, instruction or other
communication cannot be delivered because of a changed address of which no
notice was given (in accordance with this section, or the refusal to accept
same, the notice, demand, consent, request, instruction or other communication
shall be deemed received on the second business day the notice is sent (as
evidenced by a sworn affidavit of the sender). All such notices, demands,
consents, requests, instructions and other communications will be sent to the
following addresses or facsimile numbers as applicable:

If to the Company, to:
                          Technest Holdings, Inc.
                          90 Grove street
                          Ridgefield, CT 06877
                          Facsimile No:
                          Attn.: Robert Tarini

If to Greenfield, to:
                           Greenfield Capital Partners LLC
                           90 Grove Street
                           Ridgefield, CT 06877
                           Facsimile No.: 203-431-8309
                           Attn,: Michael Byl

or to such other address as any party may specify by notice given to the other
party in accordance with this section,

         11. CONFIDENTIALITY. No financial advice rendered by Greenfield
pursuant to or in connection with this Agreement may be disclosed publicly in
any manner without Greenfield's prior written consent, except as may be required
by applicable law, regulation or court order but subject to the limitation
below. If the Company is required or reasonably expects to be so required to
disclose any such advice, the Company shall provide Greenfield with prompt
notice thereof so that Greenfield may seek a protective order or other
appropriate remedy and take reasonable efforts to assure that all of such advice
disclosed will be covered by such order or other remedy, and the Company will
cooperate with Greenfield in obtaining such protective order or other
appropriate remedy. Whether or not such a protective order or other remedy is
obtained, the Company will and will cause its affiliates to disclose only that
portion of such advice which the Company is so required to disclose.

         12. INDEPENDENT CONTRACTOR. Greenfield shall be an independent
contractor in providing its Placement Agent and Financial Advisor services
hereunder. Nothing contained in this Agreement shall be deemed or construed to
create a partnership or joint venture, to create the relationships of
principal/agent, employer/employee, or otherwise create any fiduciary duty or
any liability whatsoever of either party with respect to the indebtedness,
liabilities, obligations or actions of the other party or any of their employees
or agents, or any other person or entity, Greenfield shall not have any right to
legally bind or otherwise obligate the Company in any manner whatsoever-

         13. MISCELLANEOUS.

                  (a) ATTORNEYS' FEES. If any party to this Agreement brings an
action directly or indirectly based upon this Agreement or the matters
contemplated hereby against another party, the prevailing party shall be
entitled to

<PAGE>

Greenfield Capital Partners LLC

Page 5

recover, in addition to any other appropriate amounts, its reasonable costs and
expenses in connection with such proceeding, including, but not limited to,
reasonable attorneys' fees and expenses and court costs.

                  (b) AMENDMENT. This Agreement may not be modified, amended,
altered or supplemented, except by a written agreement executed by each of the
parties hereto.

                  (c) ENTIRE AGREEMENT. This Agreement contains the entire
understanding and agreement of the parties relating to the subject matter hereof
and supersedes all prior and/or contemporaneous understandings and agreements of
any kind and nature (whether written or oral) among the parties with respect to
such subject matter, all of which are merged herein.

                  (d) WAIVER. Any waiver by a party hereto of any breach of or
failure to comply with any provision or condition of this Agreement by any other
party hereto shall not be construed as, or constitute, a continuing waiver of
such provision or condition, or a waiver of any other breach of, or failure to
comply with, any other provision or condition of this Agreement, any such waiver
to be limited to the specific matter and instance for which it is given. No
waiver of any such breach or failure or of any provision or condition of this
Agreement shall be effective unless in a written instrument signed by the party
granting the waiver and delivered to the other party hereto in the manner
provided for in the Notice section hereof. No failure or delay by any party to
enforce or exercise its rights hereunder shall be deemed a waiver hereof, nor
shall any single or partial exercise of any such right or any abandonment or
discontinuance of steps to enforce such rights, preclude any other or further
exercise thereof or the exercise of any other right.

                  (e) GOVERNING LAW; JURISDICTION. This Agreement shall be
governed by and construed IN accordance with the laws of the State of New Fork
applicable to agreements made and to be performed in that state, without regard
to any of its principles of conflicts of laws or other laws that would result in
the application of the laws of another jurisdiction. The parties shall make
reasonable efforts to resolve any dispute concerning this Agreement, its
construction or its alleged breach by face-to-face negotiations. Each of the
parties unconditionally and irrevocably consents to the exclusive jurisdiction
of the courts of the State of New York and the federal district court for the
Southern District of New York with respect to any suit, action or proceeding
arising out of or relating to this Agreement, and each of the parties hereby
unconditionally and irrevocably waives any objection to venue in any such court
or to assert that any such court is an inconvenient forum, and agrees that
service of any summons, complaint, notice or other process relating to such
suit, action or other proceeding may be effected in the manner provided in die
Notice section hereof. Each of the parties hereby unconditionally and
irrevocably waives the right to a trial by jury in any such action, suit or
other proceeding.

                  (f) BINDING EFFECT, NO ASSIGNMENT, This Agreement shall be
binding upon and shall inure to the benefit of the parties hereto and their
respective successors and permitted assigns. Neither this Agreement nor any
right, interest or obligation hereunder may be assigned by the Company without
the prior written consent of Greenfield, and any attempt to do so shall be void
and of no force and effect. The Company acknowledges and agrees that (1) a sale
of substantially all of the assets of the Company; (2) a merger or consolidation
in which the shareholders of the Company immediately before such merger or
consolidation hold, immediately after the merger or consolidation, less than of
50% of the voting power of the surviving entity; or (3) any transaction or
series of related transactions in which in excess of 50% of the Company's voting
power is transferred, shall be deemed to constitute an assignment hereunder.

                  (g) HEADINGS. The section headings contained in this Agreement
are inserted for reference purposes only and shall not affect in any way the
meaning, construction or interpretation of this Agreement. Any reference to the
masculine, feminine, or neuter gender shall be a reference to such other gender
as is appropriate. References to the singular shall include the plural and vice
versa.

                  (h) DRAFTING HISTORY. This Agreement shall be construed and
interpreted without regard to any presumption against the party causing this
Agreement to be drafted. The parties acknowledge that this Agreement was
negotiated and drafted with each Party being represented by competent counsel of
its choice and with each Party having an equal opportunity to participate in the
drafting of the provisions hereof and shall therefore be construed as if drafted
jointly by the Parties.

Counterparts

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Greenfield Capital Partners LLC

Page 6

                  (i) COUNTERPARTS. This Agreement may be executed in two (2) or
more counterparts (including by facsimile signature, which shall constitute a
legal and valid signature), and by the different Parties hereto in separate
counterparts, each of which when executed shall be deemed to be an original, and
all of which, when taken together, shall constitute one and the same document.
This Agreement shall become effective when one or more counterparts, taken
together, shall have been executed and delivered by all of the Parties,

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Greenfield is delighted to accept this engagement and looks forward to working
with you as your Placement Agent and Financial Advisor. Please confirm that the
foregoing correctly sets forth our agreement by signing and returning to
Greenfield the enclosed duplicate copy of this Agreement

                                        Very truly yours,

                                        GREENFIELD CAPITAL PARTNERS LLC

                                        By: /s/ Michael Byl
                                            --------------------------------
                                            Name: Michael Byl
                                            Title: President

ACCEPTED AND AGREED TO

this 14th day of Feb 2005

TECHNEST HOLDINGS, INC.

By: /s/ Robert Tarini
    -----------------------------
    Name: Robert Tarini
    Title: CEO

<PAGE>

                                                                      SCHEDULE A
                                                                      ----------

                           INDEMNIFICATION PROVISIONS

TO:      Greenfield Capital Partners LLC
         90 Grove Street
         Ridgefield, CT 06877

         In connection with your engagement pursuant to our letter agreement of
even date herewith (the "engagement"), the Company agrees to indemnify and hold
harmless Greenfield Capital Partners LLC ("Greenfield" or "you") and its
affiliates, the respective directors, officers, partners, agents and employees
of Greenfield and its affiliates, and each other person, if any, controlling
Greenfield or any of its affiliates (collectively, "INDEMNIFIED PERSONS"), from
and against, and we agree that no Indemnified Person shall have any liability to
us or our owners, parents, affiliates, security holders or creditors for, any
losses, claims, damages or liabilities (including actions or proceedings in
respect thereof) (collectively "LOSSES") (A) related to or arising out of (i)
our actions or failures to act (including statements or omissions made, or
information provided in writing, by us or our agents) or (ii) actions or
failures to act by an Indemnified Person with our consent or in reliance on our
actions or failures to act, or (B) otherwise related to or arising out of the
Engagement or your performance thereof, except that this clause (B) shall not
apply to any Losses that are finally judicially determined to have resulted
primarily from your bad faith or gross negligence or breach of the letter
agreement. If such indemnification is for any reason not available or
insufficient to hold you harmless, we agree to contribute to the Losses involved
in such proportion as is appropriate to reflect the relative benefits received
(or anticipated to be received) by us and by you with respect to the Engagement
or, if such allocation is judicially determined unavailable, in such proportion
as is appropriate to reflect other equitable considerations such as the relative
fault of us on the one hand and of you on the other hand; PROVIDED, HOWEVER,
that, in no event shall the amount to be contributed by you exceed the fees
actually received by you under the Engagement.

         We will reimburse each Indemnified Person for all expenses (including
reasonable fees and disbursements of counsel) as they are incurred by such
Indemnified Person in connection with investigating, preparing for or defending
any action, claim, investigation, inquiry, arbitration or other proceeding
("ACTION") referred to above (or enforcing this agreement or any related
engagement agreement), whether or not in connection with pending or threatened
litigation in which any Indemnified Person is a party, and whether or not such
Action is initiated or brought by you. We further agree that we will not settle
or compromise or consent to the entry of any judgment in any pending or
threatened Action in respect of which indemnification may be sought hereunder
(whether or not an Indemnified Person is a party therein) unless we have given
you reasonable prior written notice thereof and used all reasonable efforts,
after consultation with you, to obtain an unconditional release of each
Indemnified Person from all liability arising therefrom. In the event we are
considering entering into one or a series of transactions involving a merger or
other business combination or a dissolution or liquidation of all or a
significant portion of our assets, we shall promptly notify you in writing, If
requested by Greenfield, we shall then establish alternative means of providing
for our obligations set forth herein on terms and conditions reasonably
satisfactory to Greenfield.

         If multiple claims are brought against you in any Action with respect
to at least one of which indemnification is permitted under applicable law and
provided for under this agreement, we agree that any judgment, arbitration award
or other monetary award shall be conclusively deemed to be based on claims as to
which indemnification is permitted and provided for. In the event that you are
called or subpoenaed to give testimony in a court of law, we agree to pay your
expenses related thereto. Our obligations hereunder shall be in addition to any
rights that any Indemnified Person may have at common law or otherwise. Solely
for the purpose of enforcing this agreement, we hereby consent to personal
jurisdiction and to service and venue in any court in which any claim which is
subject to this agreement is brought by or against any Indemnified Person. We
acknowledge that in connection with the Engagement you are acting as an
independent contractor with duties owing solely to us. YOU HEREBY AGREE, AND WE
HEREBY AGREE ON OUR OWN BEHALF AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW,
ON BEHALF OF OUR SECURITY HOLDERS, TO WAIVE ANY RIGHT TO TRIAL BY JURY WITH
RESPECT TO ANY CLAIM, COUNTER-CLAIM OR ACTION ARISING OUT OF THE, ENGAGEMENT,
YOUR PERFORMANCE THEREOF OR THIS AGREEMENT.

         The provisions of this agreement shall apply to the Engagement
(including related activities prior to the date hereof) and any modification
thereof and shall remain in full force and effect regardless of the completion
or termination of the Engagement. This agreement and any other agreements
relating to the Engagement shall be governed by and construed in accordance with
the laws of the state of New York, without regard to conflicts of law principles
thereof.

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