Document:

Unassociated Document

MARLTON
TECHNOLOGIES, INC.

STOCK
OPTION AGREEMENT

THIS
STOCK OPTION (the “Option”) is granted as of the 20th day of
December 2004, by MARLTON TECHNOLOGIES, INC., a Pennsylvania corporation (the
“Company”) to JEFFREY K. HARROW (the “Optionee”).

W I T
N E S S E T H :

1.
Grant. Pursuant
to the Company’s 2001 Equity Incentive Plan (the “Plan”), the Company hereby
grants to the Optionee Stock Options (the “Options”) to purchase on the terms
and conditions set forth herein, an aggregate of One Hundred Twenty-Five
Thousand (125,000) shares (appropriately adjusted for any subsequent stock
splits, stock combinations or similar capital restructuring) of the Company’s
Common Stock, no par value per share (the “Option Shares”), at a purchase price
per share of Seventy-Five Cents ($.75) (the “Option Price”). 

2.
Term. This
Option Agreement and Optionee’s right to exercise Options vested in accordance
with Paragraph 3 shall terminate on the earlier of (i) December 19, 2009, or
(ii) upon termination of Optionee’s employment or Employment Agreement with the
Company, provided that in the event of termination due to Optionee’s death or
disability, Optionee (or Optionee’s spouse or estate) may exercise this Option
Agreement for a period of six months following the date of termination as to
Options fully vested on or before the date of termination.

3.
Vesting. The
Options will vest in full on the date of this Agreement. 

4.
Method
of Exercise and Payment. Vested
Options may be exercised from time to time, in whole or in part. The Option may
be exercised by written notice to the Company specifying the total number of
Option Shares to be exercised. The notice shall be accompanied by payment in
cash or by check equal to the aggregate Option Price of all Option Shares
covered by such notice.

5.
Notices. Any
notice to be given to the Company shall be addressed to the Company at its
principal executive office, and any notice to be given to the Optionee shall be
addressed to the Optionee at the address then appearing on the records of the
Company or at such other address as either party hereafter may designate in
writing to the other. Any such notice shall be deemed to have been duly given
when deposited in the United States mail, addressed as aforesaid, registered or
certified mail, and with proper postage and registration or certification fees
prepaid.

6.
General. This
Option shall not be assignable by Optionee. Stock certificates representing the
Option Shares acquired shall bear any legends required by applicable state and
federal securities laws. Company stock issuances are unregistered, requiring a
one year holding period.

7.
Tax
Provision. This
Option Agreement shall be interpreted and construed in a manner consistent with,
and to satisfy the requirements of, the incentive stock option provisions of the
Internal Revenue Code of 1986, as it may be amended from time to time (the
“Code”) and of the Plan. This Option Agreement is intended to satisfy the
requirements of the Plan, Section 422A(b) of the Code and qualify for special
tax treatment under Section 421 et seq. of the Code.

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

	 	
      MARLTON
      TECHNOLOGIES, INC.

	
      Attest:
	 
	
      /s/
      Alan I.
      Goldberg                             
      
	
      By:/s/
      Robert B
      Ginsburg                
      

	
      Alan
      I. Goldberg, Secretary
	
      Robert
      B. Ginsburg, President

	 	 
	
      Witness:
      
	 
	
      /s/
      Donna
      Peart                                   
      
	
      /s/
      Jeffrey K Harrow

	 	
      Optionee:
      Jeffrey K. HarrowUnassociated Document

MARLTON
TECHNOLOGIES, INC.

STOCK
OPTION AGREEMENT

THIS
STOCK OPTION (the “Option”) is granted as of the 20th day of
December 2004, by MARLTON TECHNOLOGIES, INC., a Pennsylvania corporation (the
“Company”) to SCOTT J. TARTE (the “Optionee”).

W I T
N E S S E T H :

1.
Grant. Pursuant
to the Company’s 2001 Equity Incentive Plan (the “Plan”), the Company hereby
grants to the Optionee Stock Options (the “Options”) to purchase on the terms
and conditions set forth herein, an aggregate of One Hundred Twenty-Five
Thousand (125,000) shares (appropriately adjusted for any subsequent stock
splits, stock combinations or similar capital restructuring) of the Company’s
Common Stock, no par value per share (the “Option Shares”), at a purchase price
per share of Seventy-Five Cents ($.75) (the “Option Price”). 

2.
Term. This
Option Agreement and Optionee’s right to exercise Options vested in accordance
with Paragraph 3 shall terminate on the earlier of (i) December 19, 2009, or
(ii) upon termination of Optionee’s employment or Employment Agreement with the
Company, provided that in the event of termination due to Optionee’s death or
disability, Optionee (or Optionee’s spouse or estate) may exercise this Option
Agreement for a period of six months following the date of termination as to
Options fully vested on or before the date of termination.

3.
Vesting. The
Options will vest in full on the date of this Agreement. 

4.
Method
of Exercise and Payment. Vested
Options may be exercised from time to time, in whole or in part. The Option may
be exercised by written notice to the Company specifying the total number of
Option Shares to be exercised. The notice shall be accompanied by payment in
cash or by check equal to the aggregate Option Price of all Option Shares
covered by such notice.

5.
Notices. Any
notice to be given to the Company shall be addressed to the Company at its
principal executive office, and any notice to be given to the Optionee shall be
addressed to the Optionee at the address then appearing on the records of the
Company or at such other address as either party hereafter may designate in
writing to the other. Any such notice shall be deemed to have been duly given
when deposited in the United States mail, addressed as aforesaid, registered or
certified mail, and with proper postage and registration or certification fees
prepaid.

6.
General. This
Option shall not be assignable by Optionee. Stock certificates representing the
Option Shares acquired shall bear any legends required by applicable state and
federal securities laws. Company stock issuances are unregistered, requiring a
one year holding period.

7.
Tax
Provision. This
Option Agreement shall be interpreted and construed in a manner consistent with,
and to satisfy the requirements of, the incentive stock option provisions of the
Internal Revenue Code of 1986, as it may be amended from time to time (the
“Code”) and of the Plan. This Option Agreement is intended to satisfy the
requirements of the Plan, Section 422A(b) of the Code and qualify for special
tax treatment under Section 421 et seq. of the Code.

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

	 	
      MARLTON
      TECHNOLOGIES, INC.

	
      Attest:
	 
	
      /s/
      Alan I. Goldberg                          
      
	
      By:/s/
      Robert B
      Ginsburg                   
      

	
      Alan
      I. Goldberg, Secretary
	
      Robert
      B. Ginsburg, President

	 	 
	
      Witness:
      
	 
	
      /s/
      Donna
      Peart                                  
      
	
      /s/
      Scott J. Tarte

	 	
      Optionee:
      Scott J. TarteAGREEMENT

      THIS AGREEMENT ("Agreement"), dated as of March 15, 2005 ("Effective
Date") by and among SPARKS EXHIBITS & ENVIRONMENTS CORP., a Pennsylvania
corporation located at 2828 Charter Road, Philadelphia, PA 19154 ("Sparks"),
ARGOSY INVESTMENT PARTNERS II, L.P., a Pennsylvania limited partnership located
at 950 West Valley Road, Suite 2902, Wayne, PA 19087 ("Argosy"), and ALLIANCE
MEZZANINE INVESTORS, L.P., a New Jersey limited partnership located at 96
Pompton Avenue, Verona, NJ 07044 ("Alliance"). Argosy and Alliance are
collectively referred to herein as the "Investors".

      NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
contained herein and other good and valuable consideration, intending to be
legally bound, the parties to this Agreement hereby agree as follows:

      1. Sale. The Investors own the securities and instruments set forth on
Schedule A (collectively, the "Securities") issued by Showtime Enterprises, Inc.
and Showtime Enterprises West, Inc. (collectively, the "Companies") pursuant to
the agreements set forth on Schedule A and agreements and documents ancillary
thereto (collectively, the "Showtime Agreements"). Subject to the satisfaction
of the terms and conditions of this Agreement, the Investors hereby sell,
transfer all of its right, title and interest to and deliver, and Sparks hereby
purchases, the Securities and Showtime Agreements free and clear of any liens,
claims and encumbrances (the "Sale Transaction") for the consideration set forth
in Section 2 hereof.

      2. Consideration. As consideration to the Investors for consummation of
the Sale Transaction, Sparks shall:

            a. pay the Investors $387,500 in cash (64.286%% to Argosy and
35.714% to Alliance) on or before March 23, 2005;

            b. deliver to the Investors its promissory notes ("Notes") in the
aggregate principal amount of $400,000 (64.286%% to Argosy and 35.714% to
Alliance) in substantially the form set forth in Exhibit A;

            c. deliver to the Investors warrants ("Warrants") to acquire a total
of 600,000 shares (64.286%% to Argosy and 35.714% to Alliance) of Marlton
Technologies, Inc., trading as MTY on the American Stock Exchange ("Marlton")
Common Stock pursuant to a Warrant Agreement (the "Warrant Agreement"), in
substantially the form set forth in Exhibit B; and

            d. deliver to the Investors the Royalty Agreement (the "Royalty
Agreement") in substantially the form set forth in Exhibit C.

      3. Representations.

            a. Each of the Investors hereby warrants and represents that (i) it
has not previously sold, pledged nor encumbered such party's Securities and
Showtime Agreements, (ii) it has the full power and authority to sell and
transfer the Securities and Showtime Agreements, (iii) the outstanding principal
balance on the Securities is $4,650,000 and (iv) upon satisfaction of the
conditions precedent, it shall transfer all of its right, title and interest to
the Securities and Showtime Agreements to Sparks, free and clear of any liens,
claims and encumbrances.

<PAGE>

            b. Each of the Investors hereby represents and warrants to Sparks
and Marlton that it is an "accredited investor" within the meaning of Rule
501(a) of the Securities Act (as such term is defined in the Warrant Agreement)
and is acquiring the Warrants for investment for its own account, with no
present intention of dividing or participating its participation with others
(except as contemplated herein and except for assignments by an Investor to its
limited partners that are "accredited investors") or reselling or otherwise
distributing the same in violation of the Securities Act or any applicable state
securities laws.

      4. Miscellaneous.

            4.1 Events of Default. The occurrence of the following shall
constitute an Event of Default hereunder: default in payment by Sparks as and
when due under Section 2a hereof.

            4.2 Notices. All notices, requests, demands, consents or other
communications required or permitted to be given under this Agreement shall be
in writing and shall be deemed to have been duly given if and when (i) delivered
personally, (ii) mailed by first class certified mail, return receipt requested,
postage prepaid, or (iii) sent by a nationally recognized overnight courier
service, postage or delivery charges prepaid, to the parties at their respective
addresses set forth on the first page of this Agreement or to such other
addresses of which the parties may give notice in accordance with this Section
4.1.

            4.3 Entire Understanding; Modification. This Agreement sets forth
the understanding between the parties with respect to the subject matter hereof
and supersedes all prior and contemporaneous, written, oral, expressed or
implied, communications, agreements and understandings with respect to the
subject matter hereof. This Agreement shall not be amended, modified,
supplemented or terminated except in writing signed by both parties.

            4.4 Parties in Interest. This Agreement shall inure to the benefit
of, bind and be enforceable by Sparks and the Investors. This Agreement shall
not be assignable or delegable by any party, provided Sparks may assign its
rights and duties hereunder without the Investors' consent to a successor in the
event of a sale, merger, consolidation or similar transaction of Sparks or its
parent entities. This agreement shall inure to the benefit of the successors and
permitted assigns of Sparks.

            4.5 Severability. If any provision of this Agreement is construed to
be invalid, illegal or unenforceable, then the remaining provisions hereof shall
not be affected thereby and shall be enforceable without regard thereto.

            4.6 Counterparts. This Agreement may be fully executed in any number
of counterparts, each of which when so executed and delivered shall be an
original hereof, and it shall not be necessary in making proof of this Agreement
to produce or account for more than one counterpart hereof.

            4.7 Section Headings; References. Section and subsection headings in
this Agreement are inserted for convenience of reference only, and shall neither
constitute a part of this Agreement nor affect its construction, interpretation,
meaning or effect. All words used in this Agreement shall be construed to be of
such number and gender as the context requires or permits.

                                       2
<PAGE>

            4.8 Waivers. Neither the failure nor delay on the part of either
party to exercise any right, remedy, power or privilege under this Agreement
shall operate as a waiver thereof, nor shall the single or partial exercise of
any right, remedy, power or privilege preclude any other or further exercise of
the same or any other right, remedy, power or privilege, nor shall any waiver of
any right, remedy, power or privilege with respect to any occurrence be
construed as a waiver of such right, remedy, power or privilege with respect to
any other occurrence. No waiver shall be effective unless it is in writing and
is signed by the party asserted to have granted such waiver.

            4.9 Controlling Law. This agreement is made under, and shall be
governed by, construed and enforced in accordance with, the substantive laws of
the Commonwealth of Pennsylvania applicable to agreements made and to be
performed entirely therein without giving effect to principles of conflicts of
laws.

            4.10 EXCLUSIVE JURISDICTION. IN ANY ACTION OR PROCEEDING BETWEEN THE
PARTIES HERETO, THE PARTIES IRREVOCABLY CONSENT AND AGREE TO THE EXCLUSIVE
JURISDICTION OF THE FEDERAL AND STATE COURTS LOCATED IN PENNSYLVANIA; AND
SERVICE OF PROCESS BY HAND DELIVERY OR BY CERTIFIED MAIL, TO THE ADDRESSES SET
FORTH ABOVE FOR EACH PARTY.

            4.11 Survival. The provisions of this Agreement shall survive and
continue in full force in accordance with their terms, notwithstanding
completion of the Sale Transaction hereunder.

                                       3
<PAGE>

            IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date above written.

                                    Sparks Exhibits & Environments Corp.

                                    By:
                                        ----------------------------------------

                                    Argosy Investment Partners II, L.P.
                                    By: Argosy Associates II, L.P., its general
                                        partner
                                        By: Argosy Associates II, Inc., its
                                            general partner

                                            By:
                                                --------------------------------
                                                Name:  Kirk Griswold
                                                Title: Vice President

                                    Alliance Mezzanine Investors, L.P.
                                    By:  AMI Advisors, LLC, its general partner

                                            By:
                                                --------------------------------
                                                Name:  Kevin J. Bodnar
                                                Title: Director

                                       4
<PAGE>

<TABLE>
<CAPTION>
                                   SCHEDULE A

----------------------------------------------------------------------------------------------------------
              Securities                        Outstanding Balance                      Agreements
----------------------------------------------------------------------------------------------------------
<S>                                           <C>                               <C>
12.5% Senior Subordinated                                                       Securities Purchase
Debentures                                                                      Agreement
----------------------------------------------------------------------------------------------------------
      $1,607,000 Argosy                       $1,607,000 Argosy                 dated December 31, 2002
----------------------------------------------------------------------------------------------------------
      $893,000 Alliance                       $893,000 Alliance
----------------------------------------------------------------------------------------------------------
Warrants
----------------------------------------------------------------------------------------------------------
      Series A  87.7 shares
Argosy
----------------------------------------------------------------------------------------------------------
      Series A  48.7 shares
Alliance
----------------------------------------------------------------------------------------------------------
      Series B  44.0 shares
Argosy
----------------------------------------------------------------------------------------------------------
      Series B  24.4 shares
Alliance
----------------------------------------------------------------------------------------------------------
      Series C  49.6 shares
Argosy
----------------------------------------------------------------------------------------------------------
      Series C  27.6 shares
Alliance
----------------------------------------------------------------------------------------------------------
  12.5% Senior Subordinated                                                     First Amendment to
Debentures                                                                      Securities
----------------------------------------------------------------------------------------------------------
      $643,000 Argosy                         $643,000 Argosy                   Purchase Agreement dated
----------------------------------------------------------------------------------------------------------
      $357,000 Alliance                       $357,000 Alliance                 September 11, 2003
----------------------------------------------------------------------------------------------------------
Warrants - Series D
----------------------------------------------------------------------------------------------------------
      55.23 shares Argosy
----------------------------------------------------------------------------------------------------------
      30.67 shares Alliance
----------------------------------------------------------------------------------------------------------
13.5% Senior Subordinated                                                       Second Amendment to
Debentures                                                                      Securities
----------------------------------------------------------------------------------------------------------
      $417,950 Argosy                         $417,950 Argosy                   Purchase Agreement dated
----------------------------------------------------------------------------------------------------------
      $232,050 Alliance                       $232,050 Alliance                 February 4, 2004
----------------------------------------------------------------------------------------------------------

Warrants
      Series E + Series F
----------------------------------------------------------------------------------------------------------
      75.39 + 152.31  Argosy
----------------------------------------------------------------------------------------------------------
      41.86 + 84.57  Alliance
----------------------------------------------------------------------------------------------------------
13.5% Senior Subordinated                                                       Third Amendment to
Debentures                                                                      Securities
----------------------------------------------------------------------------------------------------------
      $321,500 Argosy                         $321,500 Argosy                   Purchase Agreement dated
----------------------------------------------------------------------------------------------------------
      $178,500 Alliance                       $178,500 Alliance                 August 23, 2004
----------------------------------------------------------------------------------------------------------
</TABLE>

                                       5

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