Document:

FORM OF HARTFORD LIFE INSURANCE COMPANY                              EXHIBIT 4.1
PRINCIPAL PROTECTED CURRENCY LINKED MEDIUM-TERM NOTES

THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE (HEREINAFTER
DEFINED) AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE
INDENTURE) OR A NOMINEE OF A DEPOSITARY. THIS NOTE IS NOT EXCHANGEABLE FOR NOTES
REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER
OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO
A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE COMPANY (HEREINAFTER
DEFINED) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
UNLESS ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

     REGISTERED NO.:           CUSIP NO.:               PRINCIPAL AMOUNT: U.S.$

                         HARTFORD LIFE INSURANCE COMPANY

                        CURRENCY-LINKED MEDIUM-TERM NOTES

<TABLE>
<S>                                                               <C>
Issuance Date:                                                    Note Linked to Securities of One or More Issuers, One or More
Issue Price:  100%                                                Currencies, One or More Commodities, One or More Indices, or
Stated Maturity Date:                                             any Other Instrument(s) or Measure(s) or Baskets of any of the
Settlement Date:                                                  Foregoing:  [X] Yes [  ] No
Securities Exchange Listing:  [ ] Yes [X] No. If yes,                Supplemental Payment(s):  [X] Yes [  ] No
indicate name(s) of Securities Exchange(s):                          Currency or Currencies in the Basket:
__________________________________________.                          Spot Rate:
Depositary: The Depository Trust Company                             Initial Spot Rate:
Authorized Denominations: $1,000 and integrals thereof               Reuters Page:
Specified Currency: U.S. Dollars                                     Currency Weighting:
Amortizing Note: [ ] Yes [X] No. If yes,                          Participation Rate:
   Amortization schedule or formula:                              Off-Set Amount:
   Additional/Other Terms                                         Minimum Supplemental Payment:
Discount Note:  [ ] Yes [  ] No. If yes,                          Maximum Supplemental Payment:
   Total Amount of Discount:                                      Basket Valuation Date(s):
   Initial Accrual Period of Discount:                            Calculation Agent:
   Interest Payment Dates:                                        Additional/Other Terms:
   Additional/Other Terms:                                        Sinking Fund:  None
Redemption Provisions:  [  ] Yes [  ] No. If yes,                 Survivor's Option:  [  ] Yes [X] No.
   Initial Redemption Date:                                          If yes, Survivor's Option Rider is attached and incorporated
   Redemption Dates:                                                  into this Note.
   Initial Redemption Percentage:
   Annual Redemption Percentage Reduction, if any:
   Additional/Other Terms:
Aggregate Principal Amount of the Series:
</TABLE>

                                      1-1

<PAGE>

FORM OF HARTFORD LIFE INSURANCE COMPANY
PRINCIPAL PROTECTED CURRENCY LINKED MEDIUM-TERM NOTES

            Hartford Life Insurance Company (the "COMPANY"), for value received,
hereby promises to pay to Cede & Co., or its registered assigns, the Principal
Amount specified above plus the Supplemental Payment, if any, specified below on
the Stated Maturity Date specified above and, if so specified above, to pay
interest thereon from the Issuance Date specified above or from the most recent
Interest Payment Date specified above to which interest has been paid or duly
provided for at the rate per annum as specified above, until the principal
hereof is paid or made available for payment. Unless otherwise set forth above
under "Specified Currency," payments of principal, premium, if any, and interest
hereon will be made in the lawful currency of the United States of America
("U.S. DOLLARS" or "UNITED STATES DOLLARS"). The "PRINCIPAL AMOUNT" of this Note
at any time means (1) if this Note is a Discount Note (as hereinafter defined),
the Amortized Face Amount (as hereinafter defined) at such time (as defined in
Section 3(c) on the reverse hereof) and (2) in all other cases, the Principal
Amount hereof. Capitalized terms not otherwise defined herein shall have their
meanings set forth in the Indenture, dated as of September 8, 2006, (the
"INDENTURE"), between The Bank of New York Trust Company, N.A. (successor to
JPMorgan Chase Bank, N.A.), as the indenture trustee (the "INDENTURE TRUSTEE"),
and the Company, as amended or supplemented from time to time, or on the face
hereof.

            This Note is one of a duly authorized issue of securities of the
Company (herein called the "Notes"), issued and to be issued in one or more
series under the Indenture and reference is hereby made to the Indenture for a
statement of the respective rights, limitation of rights, duties and immunities
thereunder of the Company, the Trustee and the Holders of the Notes and of the
terms upon which the Notes are, and are to be, authenticated and delivered.

            This Note will mature on the Stated Maturity Date, unless its
principal (or any installment of its principal) becomes due and payable prior to
the Stated Maturity Date, whether, as applicable, by the declaration of
acceleration of maturity, notice of redemption by the Company or otherwise;
provided, that if the Stated Maturity Date is not a Business Day, then the
Maturity Date will be the next succeeding Business Day following such Stated
Maturity Date and any payment of interest due on the Stated Maturity Date will
be made on the Maturity Date as adjusted, with the same force and effect as if
made on the Stated Maturity Date, but no additional interest shall accrue or be
payable as a result of the delayed payment; provided, further, that if due to a
Market Disruption Event or otherwise, the final Index Valuation Date is
postponed so that it falls less than three Business Days prior to or following
the Stated Maturity Date, the Maturity Date will be the third Business Day
following the final Index Valuation Date. (Any date on which this Note becomes
due and payable, whether prior or subsequent to the Stated Maturity Date is
referred to as the "MATURITY DATE").

            If the Stated Maturity Date is postponed due to postponement of the
Index Valuation Date as described above, the Company shall give written notice
of such postponement and, once it has been determined, of the date to which the
Maturity Date has been rescheduled to the Indenture Trustee and the Paying Agent
at their New York offices, on which notices the Indenture Trustee and the Paying
Agent may conclusively rely. These notices shall be given no later than (i) with
respect to notice of the postponement of the Stated Maturity Date, the Business
Day immediately following the scheduled Index Valuation Date; and (ii) with
respect to notice of the date to which the Maturity Date has been rescheduled,
the Business Day immediately following the actual Index Valuation Date for
determining the Ending Index Level.

            A "DISCOUNT NOTE" is any Note that has an Issue Price that is less
than 100% of the Principal Amount thereof by more than a percentage equal to the
product of 0.25% and the number of full years to the Stated Maturity Date.

                                      1-2

<PAGE>

FORM OF HARTFORD LIFE INSURANCE COMPANY
PRINCIPAL PROTECTED CURRENCY LINKED MEDIUM-TERM NOTES

            Unless otherwise specified above, the interest payable on each
Interest Payment Date or the Maturity Date will be the amount of interest
accrued from and including the Issuance Date or from and including the last
Interest Payment Date to which interest has been paid or duly provided for, as
the case may be, to, but excluding, such Interest Payment Date or the Maturity
Date, as the case may be.

            Unless otherwise specified above, the interest payable on any
Interest Payment Date will be paid to the Holder on the Regular Record Date for
such Interest Payment Date, which Regular Record Date shall be the fifteenth
(15th) calendar day, whether or not a Business Day, immediately preceding the
related Interest Payment Date; provided that, notwithstanding any provision of
the Indenture to the contrary, interest payable on any Maturity Date shall be
payable to the Person to whom principal shall be payable; and provided, further,
that unless otherwise specified above, in the case of a Note initially issued
between a Regular Record Date and the Interest Payment Date relating to such
Regular Record Date, interest for the period beginning on the Issuance Date and
ending on such Interest Payment Date shall be paid on the Interest Payment Date
following the next succeeding Regular Record Date to the Holder on such next
succeeding Regular Record Date.

            Payments of principal of, and premium, if any, and interest and
other amounts due and owing, if any, will be made through the Indenture Trustee
to the account of DTC or its nominee and will be made in accordance with
depositary arrangements with DTC.

            Unless otherwise specified on the face hereof, the Holder hereof
will not be obligated to pay any administrative costs imposed by banks in making
payments in immediately available funds by the Company. Unless otherwise
specified on the face hereof, any tax assessment or governmental charge imposed
upon payments hereunder, including, without limitation, any withholding tax,
will be borne by the Holder hereof.

            REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET
FORTH ON THE REVERSE HEREOF. SUCH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE
THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.

            Unless the certificate of authentication hereon shall have been
executed by the Indenture Trustee pursuant to the Indenture, this Note shall not
be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

                                      1-3

<PAGE>

FORM OF HARTFORD LIFE INSURANCE COMPANY
PRINCIPAL PROTECTED CURRENCY LINKED MEDIUM-TERM NOTES

            IN WITNESS WHEREOF, the Company has caused this instrument to be
duly executed, by manual or facsimile signature.

                         HARTFORD LIFE INSURANCE COMPANY
Dated:

                         By:
                             ------------------------------
                             Authorized Officer

                          CERTIFICATE OF AUTHENTICATION

            This is one of the Notes of Hartford Life Insurance Company referred
to in the within-mentioned Indenture.

                         THE BANK OF NEW YORK TRUST COMPANY, N.A.
                         As Indenture Trustee
Dated:

                         By:
                             ------------------------------------
                             authorized signatory

                                      1-4

<PAGE>

                                [REVERSE OF NOTE]

            Section 1. GENERAL. This Note is one of a duly authorized issue of
Notes of the Company. The Notes of this series are issued pursuant to the
Indenture.

            Section 2. SPECIFIED CURRENCY. This Note is denominated in, and
payments of principal, premium, if any, and/or interest, if any, will be made in
the Specified Currency specified on the face hereof.

            Section 3. DETERMINATION OF INTEREST AMOUNTS AND CERTAIN OTHER
TERMS.

            (a) PERIODIC INTEREST NOTES. If this Note is designated on the face
hereof as a Periodic Interest Note:

                (i) This Note will bear interest at the rate per annum specified
            on the face hereof. Interest on this Note will be computed on the
            basis of a 360-day year of twelve 30-day months.

                (ii) Unless otherwise specified on the face hereof, the Interest
            Payment Dates for this Note will be as follows:

<TABLE>
<CAPTION>
                     Interest Payment Frequency    Interest Payment Dates
                     --------------------------    ----------------------

                     <S>                           <C>
                     Monthly                       Fifteenth day of each calendar month, beginning in the
                                                   first calendar month following the month this Note was
                                                   issued.

                     Quarterly                     Fifteenth day of every third calendar month, beginning in
                                                   the third calendar month following the month this Note was
                                                   issued.

                     Semi-annual                   Fifteenth day of every sixth calendar month, beginning in
                                                   the sixth calendar month following the month this Note was
                                                   issued.

                     Annual                        Fifteenth day of every twelfth calendar month, beginning
                                                   in the twelfth calendar month following the month this
                                                   Note was issued.
</TABLE>

                (iii) If any Interest Payment Date or the Maturity Date of this
            Note falls on a day that is not a Business Day, the Company will
            make the required payment of principal, premium, if any, and/or
            interest or other amounts on the next succeeding Business Day, and
            no additional interest will accrue in respect of the payment made on
            that next succeeding Business Day.

                                      2-1

<PAGE>

            (b) SUPPLEMENTAL PAYMENTS. If this Note is specified on the face
hereof as a "Note Linked to Securities of One or More Issuers, One or More
Currencies, One or More Commodities, Indices, or any other Instrument(s) or
Measure(s) or Baskets of any of the Foregoing" and as having "Supplemental
Payment(s)," a Supplemental Payment shall be payable on the Stated Maturity Date
or a later Maturity Date and shall be determined by the Calculation Agent by
reference to the relevant index or indicies, as specified on the face hereof
(the "Relevant Index"), and payment of principal, premium, if any, and interest,
if any, on this Note shall be made as set forth below.

                (i) DETERMINATION OF THE SUPPLEMENTAL PAYMENT: On the Index
            Valuation Date or Dates set forth on the face hereof, the
            Calculation Agent will determine the closing level of the Relevant
            Index (each a "Periodic Valuation Level"). If there is a single
            Index Valuation Date, the Periodic Valuation Level as of that date
            will be the Ending Index Level. If there is more than one Index
            Valuation Date, the Calculation Agent will determine the closing
            level of the Relevant Index for each such day and the arithmetic
            average of the sum of the Periodic Valuation Levels, divided by the
            number of Index Valuation Dates. This average will be the "Ending
            Index Level". The "closing level" of the Relevant Index on any
            Trading Day means the level of the Relevant Index at the regular
            official weekday close of the principal trading session(s) of the
            relevant exchange(s) or market(s) (the "Relevant Exchanges") for the
            stocks or other securities or instruments included in the Relevant
            Index or any Successor Index (as defined below). (As used herein, a
            "Trading Day" is a day on which trading is generally conducted on
            the New York Stock Exchange ("NYSE"), the American Stock Exchange
            LLC (the "AMEX"), the NASDAQ Stock Market and/or any relevant
            exchange or market for the Successor Index, all as determined by the
            Calculation Agent.) Prior to the Stated Maturity Date, the
            Calculation Agent will determine the Index Return using the
            following formula:

                   (Ending Index Level - Initial Index Level)
                   ------------------------------------------
                               Initial Index Level

            If the Index Return multiplied by the Participation Rate is less
            than or equal to the Off-Set Amount, if any, specified on the face
            of this Note, then the Supplemental Payment will equal $0.00 (or the
            Minimum Return, if any, specified on the face of this Note). If the
            Index Return multiplied by the Participation Rate is greater than
            the Off-Set Amount specified on the face of this Note, then the
            Supplemental Payment for each $1,000 principal amount of this Note
            will equal the lesser of the Maximum Return, if any, specified on
            the face of this Note or the amount computed as follows:

         ($1,000 x Index Return x Participation Rate) -- Off-Set Amount

                All calculations with respect to the Initial Index Level, the
            Ending Index Level, the Index Return or any closing level will be
            rounded to the nearest one hundred-thousandth, with five
            one-millionths rounded upward (E.G., .876545 would be rounded to
            .87655); all dollar amounts related to determination of the
            Supplemental Payment, if any, per $1,000 principal amount of this
            Note will be rounded to the nearest ten-thousandth, with five one
            hundred-thousandths rounded upward (E.G., .76545 would be rounded up
            to .7655); and all dollar amounts paid on the aggregate principal
            amount of this Note will be rounded to the nearest cent, with
            one-half cent rounded upward.

                                      2-2

<PAGE>

                The Company shall provide, or shall cause the Calculation Agent
            to provide, written notice to the Indenture Trustee and the Paying
            Agent at their New York offices, on which notice the Indenture
            Trustee and the Paying Agent may conclusively rely, of the amount of
            cash to be delivered with respect to each $1,000 principal amount of
            this Note, on or prior to 10:30 a.m. on the Business Day preceding
            the Maturity Date.

                (ii) OTHER PROVISIONS PERTAINING TO SUPPLEMENTAL PAYMENTS: The
            following additional terms apply with respect to the Supplemental
            Payment:

                (A) RELEVANT INDEX. The entity that sponsors any Relevant Index
                (the "Sponsor") is solely responsible for the computation of
                that Relevant Index.

                If more than one Relevant Index is specified on the face hereof,
                The determinations specified above will be made using the
                proportions listed next to the name of each Relevant Index and
                by applying the procedures specified in the Supplemental Payment
                Schedule, attached hereto.

                (B) MARKET DISRUPTION. Each of the following is a "Market
                Disruption Event" if the Calculation Agent determines that the
                actual event materially affects the Relevant Index:

                o   the suspension, absence or material limitation of the
                    trading of stocks or other securities or instruments then
                    constituting 20% or more of the stocks or other securities
                    or instruments which then comprise the Index (or any
                    Successor Index) on the Relevant Exchange(s) for such
                    securities for more than two hours of trading during, or
                    during the one-half hour period preceding the close of, the
                    principal trading session on such Relevant Exchange; or

                o   a breakdown or failure in the price and trade reporting
                    systems of any Relevant Exchange as a result of which the
                    reported trading prices for stocks or other securities or
                    instruments then constituting 20% or more of the stocks
                    which then comprise the Relevant Index (or any Successor
                    Index) during the one hour preceding the close of the
                    principal trading session on such Relevant Exchange(s) are
                    materially inaccurate; or

                o   the suspension, absence, limitation, cancellation or
                    repudiation of trading for more than two hours of trading
                    during, or during the one-half hour period preceding the
                    close of trading on the Relevant Exchange in 20% or more of
                    any options contracts relating to stocks or other securities
                    which then comprise 20% or more of the value of the Relevant
                    Index; or

                o   the suspension, absence or material limitation of the
                    trading on the primary securities exchange, as determined by
                    the Calculation Agent, for trading in options contracts,
                    futures or exchange traded funds related to the Relevant
                    Index or any Successor Index for more than two hours of
                    trading during, or during the one-half hour period preceding
                    the close of, the principal trading session on such
                    exchange; or

                                      2-3

<PAGE>

                o   a decision to permanently discontinue trading in the
                    relevant futures or options contracts;

                in each case as determined by the Calculation Agent in its sole
                discretion; and

                o   the Calculation Agent's determination, in its sole
                    discretion, that the event(s) described above materially
                    interfered with the Company's ability or the ability of any
                    of the Company's affiliates to adjust or unwind all or a
                    material portion of any hedge with respect to this Note.

                For the purpose of this definition of Market Disruption Event,
                unless otherwise specified on the face hereof:

                o   a limitation on the number of hours or days of trading will
                    not constitute a Market Disruption Event, if it results from
                    an announced change in the regular business hours of the
                    Relevant Exchange or market;

                o   limitations pursuant to the rules of any relevant exchange
                    similar to NYSE Rule 80A (or any applicable rule or
                    regulation enacted or promulgated by any other
                    self-regulatory organization or any government agency of
                    scope similar to NYSE Rule 80A as determined by the
                    Calculation Agent, in its sole discretion) on trading during
                    significant market fluctuations will constitute a
                    suspension, absence or material limitation of trading;

                o   a suspension of trading in futures or options contracts on
                    the Relevant Index by the primary securities market trading
                    in such contracts by reason of

                    o   a price change exceeding limits set by such exchange or
                        market,

                    o   an imbalance of orders relating to such contracts, or

                    o   a disparity in bid and ask quotes relating to such
                        contracts

                    will, in each such case, constitute a suspension, absence or
                    material limitation of trading in futures or options
                    contracts related to the Relevant Index; and

                o   a "suspension of trading" on any Relevant Exchange or on the
                    primary market on which futures or options contracts related
                    to the Relevant Index are traded will not include any time
                    when such market is itself closed for trading under ordinary
                    circumstances.

                If an Index Valuation Date (i) is not a Trading Day or (ii) if
                there is a Market Disruption Event on such day, the applicable
                Index Valuation Date will be postponed to, in the case of clause
                (i), the immediately succeeding Trading Day and, in the case of
                clause (ii) the next succeeding Trading Day, during which no
                Market Disruption Event shall have occurred or is continuing;
                PROVIDED that the Index Closing Level will not be determined on
                a date later than the tenth scheduled Trading Day after the
                final Index Valuation Date, and if such day is not

                                      2-4

<PAGE>

                a Trading Day, or if there is a Market Disruption Event on such
                date, the Calculation Agent will determine the Index Closing
                Level on such date in accordance with the formula for and method
                of calculating the Index Closing Level last in effect prior to
                commencement of the Market Disruption Event (or prior to the
                non-Trading Day), using the closing price (or, if trading in the
                relevant securities has been materially suspended or materially
                limited, the Calculation Agent's good faith estimate of the
                closing price that would have prevailed but for such suspension
                or limitation or non-trading day) on such tenth scheduled
                Trading Day of each security most recently constituting the
                Relevant Index.

                    (C) DISCONTINUANCE OF THE RELEVANT INDEX. If publication of
                the Relevant Index is discontinued or otherwise unavailable and
                the Sponsor (or another entity) publishes a successor or
                substitute index that the Calculation Agent, in its sole
                discretion, determines is comparable to the discontinued
                Relevant Index (the new index being referred to as a "Successor
                Index"), then the relevant closing levels will be determined by
                reference to the Successor Index at the close of trading on the
                Relevant Exchange(s) for the Successor Index on each relevant
                Index Valuation Date.

                If the Calculation Agent selects a Successor Index, the
                Calculation Agent will cause written notice to be promptly
                furnished to the Company, the Indenture Trustee and the Holder
                of this Note of the change to the Successor Index.

                If publication of the Relevant Index is discontinued prior to,
                and such discontinuation is continuing on an Index Valuation
                Date and the Calculation Agent determines that no Successor
                Index is available, then the Calculation Agent will notify the
                Company and the Indenture Trustee and will calculate the
                appropriate closing levels. These calculations by the
                Calculation Agent will be in accordance with the formula for and
                method of calculating the Relevant Index last in effect prior to
                its discontinuance using the closing price (or, if trading in
                the relevant securities has been materially suspended or
                materially limited, its good faith estimate of the closing price
                that would have prevailed but for such suspension or limitation)
                at the close of the principal trading session on such date of
                each security most recently composing the Relevant Index or
                Successor Index, as applicable. If a Successor Index is selected
                or the Calculation Agent calculates a level as a substitute for
                the Relevant Index, that Successor Index or level will be
                substituted for the Relevant Index for all purposes.

                    (D) ALTERATION OF METHOD OF CALCULATION OF INDEX. If at any
                time the method of calculating the Relevant Index or a Successor
                Index, or the level thereof, is changed in a material respect in
                the Calculation Agent's discretion, or if the Relevant Index or
                a Successor Index is in any other way modified so that the
                Relevant Index or such Successor Index does not, in the
                reasonable opinion of the Calculation Agent, fairly represent
                the level of the Relevant Index or such Successor Index had such
                changes or modifications not been made, then the Calculation
                Agent will, at the close of business in New York City on each
                date on which the Index Closing Level is to be determined, make
                such calculations and

                                      2-5

<PAGE>

                adjustments as, in the good faith judgment of the Calculation
                Agent, may be necessary in order to arrive at a level of a stock
                index comparable to the Relevant Index or such Successor Index,
                as the case may be, as if such changes or modifications had not
                been made, and the Calculation Agent will calculate the Index
                Closing Level with reference to the Relevant Index or such
                Successor Index, as adjusted.

                (iii) ALTERNATE SUPPLEMENTAL PAYMENT CALCULATION IN CASE OF AN
            EVENT OF DEFAULT. In case an Event of Default with respect to this
            Note shall have occurred and be continuing, the amount declared due
            and payable for each $1,000 principal amount of this Note upon any
            acceleration of this Note shall be determined by the Calculation
            Agent and shall be an amount in cash equal to $1,000 plus the
            Supplemental Payment, calculated as if the date of acceleration were
            the final Index Valuation Date, plus, if applicable, any accrued and
            unpaid interest on this Note to the date the principal hereof is
            paid or made available for payment. If more than one Index Valuation
            Date is specified on the face of this Note, then for each Index
            Valuation Date scheduled to occur after the date of acceleration,
            the Trading Days immediately preceding the date of acceleration (in
            such number equal to the number of Index Valuation Dates in excess
            of one) shall be the corresponding Index Valuation Dates, unless
            otherwise specified in the applicable pricing supplement. If the
            maturity of this Note is accelerated because of an Event of Default
            as described above, the Company shall provide, or shall cause the
            Calculation Agent to provide, written notice to the Indenture
            Trustee at its New York office, on which notice the Indenture
            Trustee may conclusively rely, and to the Holder of the cash amount
            due with respect to each $1,000 principal amount of this Note as
            promptly as possible and in no event later than two Business Days
            after the date of acceleration.

                (iv) CALCULATION AGENT. All determinations made by the
            Calculation Agent hereunder shall be made at the sole discretion of
            the Calculation Agent and shall, in the absence of manifest error,
            be conclusive for all purposes and binding on the Holder of this
            Note, the Indenture Trustee and the Company. The Company may appoint
            a different Calculation Agent from time to time without notice to or
            consent of the Holder of this Note.

            (c) DISCOUNT NOTES. If this Note is specified on the face hereof as
a "Discount Note":

                (i) PRINCIPAL AND INTEREST. This Note will bear interest in the
            same manner as set forth in Section 3(a) above, and payments of
            principal and interest shall be made as set forth on the face
            hereof. Discount Notes may not bear any interest currently or may
            bear interest at a rate that is below market rates at the time of
            issuance. The difference between the Issue Price of a Discount Note
            and par is referred to as the "DISCOUNT".

                (ii) REDEMPTION; REPAYMENT; ACCELERATION. In the event a
            Discount Note is redeemed, repaid or accelerated, the amount payable
            to the Holder of such Discount Note will be equal to the sum of: (A)
            the Issue Price (increased by any accruals of Discount) and, in the
            event of any redemption of such Discount Note, if applicable,
            multiplied by the Initial Redemption Percentage (as adjusted by the
            Annual Redemption Percentage Reduction, if applicable); and (B) any
            unpaid interest accrued on such Discount Note to the Maturity Date
            ("AMORTIZED FACE AMOUNT"). Unless otherwise specified on the face
            hereof, for purposes of determining the amount of Discount that has
            accrued as of any

                                      2-6

<PAGE>

            date on which a redemption, repayment or acceleration of maturity
            occurs for a Discount Note, a Discount will be accrued using a
            constant yield method. The constant yield will be calculated using a
            30-day month, 360-day year convention, a compounding period that,
            except for the Initial Period (as defined below), corresponds to the
            shortest period between Interest Payment Dates for the applicable
            Discount Note (with ratable accruals within a compounding period), a
            coupon rate equal to the initial coupon rate applicable to the
            applicable Discount Note and an assumption that the maturity of such
            Discount Note will not be accelerated. If the period from the date
            of issue to the first Interest Payment Date for a Discount Note (the
            "INITIAL PERIOD") is shorter than the compounding period for such
            Discount Note, a proportionate amount of the yield for an entire
            compounding period will be accrued. If the Initial Period is longer
            than the compounding period, then the period will be divided into a
            regular compounding period and a short period with the short period
            being treated as provided above.

            Section 4. REDEMPTION. Unless otherwise so indicated on the face
hereof and in a Redemption Schedule attached hereto, this Note may not be
redeemed prior to the Stated Maturity Date, except as set forth in the
Indenture.

            Section 5. SINKING FUNDS AND AMORTIZING NOTES. Unless specified on
the face hereof, this Note will not be subject to, or entitled to the benefit
of, any sinking fund. If this Note is specified on the face hereof as an
"Amortizing Note", this Note will bear interest in the same manner as set forth
in Section 3(a) above, and payments of principal, premium, if any, and interest
will be made as set forth on the face hereof and/or in accordance with Schedule
I attached hereto. The Company will make payments combining principal, premium
(if any) and interest, if applicable, on the dates and in the amounts set forth
in the table appearing in Schedule I attached to this Note or in accordance with
the formula specified on the face hereof. Payments made hereon will be applied
first to interest due and payable hereon and then to the reduction of the unpaid
principal amount hereof.

            Section 6. MODIFICATIONS AND WAIVERS. The Indenture contains
provisions permitting the Company and the Indenture Trustee (1) at any time and
from time to time without notice to, or the consent of, the Holders of any Notes
issued under the Indenture to enter into one or more supplemental indentures for
certain enumerated purposes and (2) with the consent of the Holders of a
majority in aggregate principal amount of the Outstanding Notes affected
thereby, to enter into one or more supplemental indentures for the purpose of
adding any provisions to, or changing in any manner or eliminating any of the
provisions of, the Indenture or of modifying in any manner the rights of Holders
of Notes under the Indenture; provided, that, with respect to certain enumerated
provisions, no such supplemental indenture shall be entered into without the
consent of the Holder of each Note affected thereby. Any such consent or waiver
by the Holder of this Note shall be conclusive and binding upon such Holder and
upon all future Holders of this Note and of any Note issued upon the
registration of transfer hereof or in exchange hereof or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Note or such other
Notes.

            Section 7. OBLIGATIONS UNCONDITIONAL. No reference herein to the
Indenture and no provisions of this Note or of the Indenture shall impair the
right of each Holder of any Note, which is absolute and unconditional, to
receive payment of the principal of, and any interest on, and premium, if any,
on, such Note on the respective Stated Maturity Date or redemption date

                                      2-7

<PAGE>

thereof and to institute suit for the enforcement of any such payment, and such
rights shall not be impaired without the consent of such Holder.

            Section 8. EVENTS OF DEFAULT. If an Event of Default with respect to
the Notes of this series shall occur and be continuing, the principal of, and
all other amounts payable on, the Notes of this series may be declared due and
payable, or may be automatically accelerated, as the case may be, in the manner
and with the effect provided in the Indenture In the event that this Note is a
Discount Note, the amount of principal of this Note that becomes due and payable
upon such acceleration shall be equal to the amount calculated as set forth in
Section 3(d) hereof.

            Section 9. WITHHOLDING; NO ADDITIONAL AMOUNTS. All amounts due in
respect of this Note will be made free and clear of any applicable withholding
or deduction for or on account of any present or future taxes, duties, levies,
assessments or other governmental charges of whatever nature imposed or levied
by or on behalf of any governmental authority, unless such withholding or
deduction is required by law. The Company will not pay any additional amounts to
the Holder of this Note in respect of any such withholding or deduction, any
such withholding or deduction will not give rise to an Event of Default or any
independent right or obligation to redeem this Note and the Holder will be
deemed for all purposes to have received cash in an amount equal to the portion
of such withholding or deduction that is attributable to such Holder's interest
in this Note as equitably determined by the Company.

            Section 10. LISTING. Unless otherwise specified on the face hereof,
this Note will not be listed on any securities exchange.

            Section 11. NO RECOURSE AGAINST CERTAIN PERSONS. No recourse shall
be had for the payment of any principal, interest or any other sums at any time
owing under the terms of this Note, or for any claim based hereon, or otherwise
in respect hereof, or based on or in respect of the Indenture against the
Nonrecourse Parties, whether by virtue of any constitution, statute or rule of
law, or by the enforcement of any assessment or penalty or otherwise, all such
personal liability being, by the acceptance hereof and as part of the
consideration for issue hereof, expressly waived and released.

            Section 12. MISCELLANEOUS.

            (a) This Note is issuable only as a registered Note without coupons
in denominations of $1,000 and any integral multiple of $1,000 in excess
thereof, or, if the specified currency of this Note is Canadian dollars, the
approximate Canadian dollar equivalent of $1,000 and any integral multiple of
such $1,000 equivalent in excess thereof, unless otherwise specified on the face
of this Note.

            (b) Prior to due presentment for registration of transfer of this
Note, the Company, the Indenture Trustee, the Registrar, the Paying Agent, any
Agent, and any other agent of the Company or the Indenture Trustee may treat the
Person in whose name this Note is registered as the owner hereof for the purpose
of receiving payment as herein provided and for all other purposes, whether or
not this Note shall be overdue, and none of the Company, the Indenture Trustee,
the Registrar, the Paying Agent, any Agent, or any other agent of the Company or
the Indenture Trustee shall be affected by notice to the contrary.

                                      2-8

<PAGE>

            (c) The Notes of this series are being issued by means of a
book-entry-only system with no physical distribution of certificates to be made
except as provided in the Indenture. The book-entry system maintained by DTC
will evidence ownership of the Notes of this series, with transfers of ownership
effected on the records of DTC and its participants pursuant to rules and
procedures established by DTC and its participants. The Company and the
Indenture Trustee will recognize Cede & Co., as nominee of DTC, as the
registered owner of the Notes of this series, as the Holder of the Notes of this
series for all purposes, including payment of principal, premium (if any) and
interest, notices and voting. Transfer of principal, premium (if any) and
interest to participants of DTC will be the responsibility of DTC, and transfer
of principal, premium (if any) and interest to beneficial holders of the Notes
of this series by participants of DTC will be the responsibility of such
participants and other nominees of such beneficial holders. So long as the
book-entry system is in effect, the selection of any Notes to be redeemed or
repaid will be determined by DTC pursuant to rules and procedures established by
DTC and its participants. Neither the Company nor the Indenture Trustee will be
responsible or liable for such transfers or payments or for maintaining,
supervising or reviewing the records maintained by DTC, its participants or
persons acting through such participants.

            (d) This Note or portion hereof may not be exchanged for Definitive
Notes, except in the limited circumstances provided for in the Indenture. The
transfer or exchange of Definitive Notes shall be subject to the terms of the
Indenture. No service charge will be made for any registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

            Section 13. GOVERNING LAW. THIS NOTE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

                                      2-9

<PAGE>

                                   SCHEDULE A

1. Delete the third and fourth full paragraphs of this Note and replace with the
following new paragraphs:

   This Note will mature on the Stated Maturity Date, unless its principal (or
   any installment of its principal) becomes due and payable prior to the Stated
   Maturity Date, whether, as applicable, by the declaration of acceleration of
   maturity, notice of redemption by the Company or otherwise; provided, that if
   the Stated Maturity Date is not a Business Day, then the Maturity Date will
   be the next succeeding Business Day following such Stated Maturity Date and
   any payment of interest due on the Stated Maturity Date will be made on the
   Maturity Date as adjusted, with the same force and effect as if made on the
   Stated Maturity Date, but no additional interest shall accrue or be payable
   as a result of the delayed payment. If due to a Market Disruption Event, the
   final Basket Valuation Date is postponed, the Stated Maturity Date will be
   postponed by the same number of days as the final Basket Valuation Date. (Any
   date on which this Note becomes due and payable, whether prior or subsequent
   to the Stated Maturity Date is referred to as the "MATURITY DATE").

   If the Stated Maturity Date is postponed due to postponement of the Basket
   Valuation Date as described above, the Company shall give written notice of
   such postponement and, once it has been determined, of the date to which the
   Maturity Date has been rescheduled to the Indenture Trustee and the Paying
   Agent at their New York offices, on which notices the Indenture Trustee and
   the Paying Agent may conclusively rely. These notices shall be given no later
   than (i) with respect to notice of the postponement of the Stated Maturity
   Date, the Business Day immediately following the scheduled Basket Valuation
   Date; and (ii) with respect to notice of the date to which the Maturity Date
   has been rescheduled, the Business Day immediately following the actual
   Basket Valuation Date for determining the Ending Spot Rate, the Currency
   Return, the Ending Basket Level and the Basket Return.

2. Delete all reference in this Note to "Index Valuation Date" and replace with
"Basket Valuation Date".

3. Delete all reference in this Note to "Trading Day" and replace with "Business
Day".

4. Delete all references in this Note to "index" or "indices" and replace with
"currency" or "currencies", respectively.

5. The procedures described in Section 3(b)(i) of this Note for determining the
Supplemental Payment are hereby replaced in its entirety as follows:

DETERMINATION OF THE SUPPLEMENTAL PAYMENT: On the Basket Valuation Date or Dates
set forth on the face hereof, the Calculation Agent will determine the Ending
Spot Rate(s), the Currency Return(s), the Ending Basket Level(s), and the Basket
Return(s) for the relevant currency or currencies (the "Relevant Currency", and
collectively, the "Relevant Currencies"). If there is a single Basket Valuation
Date, the Ending Spot Rate, the Currency Return, the Ending Basket Level, and
the Basket Return will be as of that date. If there are more than one Basket
Valuation Dates, the Calculation Agent will determine each of the Ending Spot
Rate, the Currency Return,

                                      2-10

<PAGE>

the Ending Basket Level, and the Basket Return, each divided by the number of
Basket Valuation Dates. The average of each will be the Ending Spot Rate(s), the
Currency Return(s), the Ending Basket Level(s), and the Basket Return(s).

The "Basket Closing Level" on any Business Day will be calculated as follows:

            Basket Closing Level = 100 x [1 + [sigma] (each Currency Return x
each Currency Weighting)]

The "Ending Basket Level" means the Basket Closing Level on the Basket Valuation
Date, or the arithmetic average of the Basket Closing Levels on the Basket
Valuation Dates.

The "Currency Return" for the Relevant Currency included in the Basket will be
calculated as follows:
                                     Ending Spot Rate - Initial Spot Rate
                                     ------------------------------------
                Currency Return =             Initial Spot Rate

and will then determine for such Basket Valuation Date the "Basket Return" using
the following formula:
                                     Ending Basket Level - 100
                                     -------------------------
                Basket Return =                100

On the final Basket Valuation Date, the Calculation Agent will determine the
final Basket Return by averaging each of the Basket Returns determined on each
Basket Valuation Date.

            If the final Basket Return multiplied by $1,000 multiplied by the
Participation Rate is less than or equal zero, then the Supplemental Payment
will be equal to $0.00 (or the Minimum Supplemental Payment, if any, specified
on the face of this Note). If the final Basket Return multiplied by $1,000
multiplied by the Participation Rate (the "Basket-linked Supplemental Payment")
is greater than zero, then the Supplemental Payment for each $1,000 principal
amount of this Note will equal the Basket-linked Supplemental Payment (or the
Maximum Supplemental Payment, if any, specified on the face of this Note).

            The "Ending Spot Rate" of the Relevant Currency on any Business Day
means the Spot Rate of the Relevant Currency at the regular official weekday
close of the Principal Financial Center for trading of the Relevant Currency. As
used herein, a "Business Day" is any day other than a Saturday or Sunday, as
determined by the Calculation Agent, on which banking business is generally
conducted in New York City and in the Principal Financial Center for each of the
Relevant Currencies.

            All calculations with respect to the Initial Spot Rate, Initial
Basket Level, the Ending Basket Level, the Basket Return, the Ending Spot Rate,
or any Basket Closing Level will be rounded to the nearest one
hundred-thousandth, with five one-millionths rounded upward (E.G., .876545 would
be rounded to .87655); all dollar amounts related to determination of the
Supplemental Payment payable at maturity will be rounded to the nearest
ten-thousandth, with five one hundred-thousandths rounded upward (E.G., .76545
would be rounded up to .7655); and all dollar amounts paid on the aggregate
principal amount of this Note will be rounded to the nearest cent, with one-half
cent rounded upward.

                                      2-11

<PAGE>

            The Company shall provide, or shall cause the Calculation Agent to
provide, written notice to the Indenture Trustee and the Paying Agent at their
New York offices, on which notice the Indenture Trustee and the Paying Agent may
conclusively rely, of the amount of cash to be delivered with respect to each
$1,000 principal amount of this Note, on or prior to 10:30 a.m. on the Business
Day preceding the Maturity Date.

6.          Delete in its entirety Section 3(b)(ii)(A), "RELEVANT INDEX" and
replace with "SPOT RATE", as set forth below:

            The exchange rate at a point in time to convert a Relevant Currency
            into Dollars or to convert Dollars into a Relevant Currency. Unless
            otherwise specified on the face hereof, the Calculation Agent will
            determine the Spot Rate for each Relevant Currency by observing
            trades through Electronic Broking Services, Reuters Dealing 3000 as
            of the Trade Date specified on the face hereof and as of each Basket
            Valuation Date.

7.          Replace in its entirety Section 3(b)(ii)(B) as follows:

            MARKET DISRUPTION. Each of the following is a "Market Disruption
            Event" if the Calculation Agent determines that the actual event
            prevents the Calculation Agent from calculating the Spot Rate of a
            Currency on any Basket Valuation Date and as a result, the
            Calculation Agent would not be able to calculate the Basket Return
            and the Supplemental Payment, if any, payable at maturity:

            (i) a day on which it becomes impossible to obtain a given Spot Rate
            from the Electronic Broking Services, Reuters Dealing 3000 or
            another source specific to a particular non-deliverable Currency; or

            (ii) a day that is declared not to be a Business Day, without prior
            public announcement or other public notice that such day shall not
            be a Business Day, until a time later than 9:00 a.m. in the
            Principal Financial Center for a particular currency two Business
            Days prior to the final Basket Valuation Date;

      in each case as determined by the Calculation Agent in its sole discretion
      provided that the Calculation Agent's determination, in its sole
      discretion, that the events described above materially interfered with the
      Company's ability or the ability of any of the Company's hedging
      counterparty or the affiliates of either to adjust or unwind all or a
      material portion of any hedge with respect to this Note.

      If a Basket Valuation Date (i) is not a Business Day or (ii) if there is a
      Market Disruption event on such day, the applicable Basket Valuation Date
      will be postponed to, in the case of clause (i) the immediately succeeding
      Business Day and, in the case of clause (ii) the next succeeding Business
      Day, during which no Market Disruption Event shall have occurred or is
      continuing; PROVIDED, however, that in no event will the applicable Basket
      Valuation Date be postponed by more than ten scheduled Business Days
      following the originally scheduled Basket Valuation Date.

8.          The procedures described in Section 3(b)(ii)(C) of this Note
regarding the DISCONTINUANCE OF THE RELEVANT INDEX are hereby deleted in its
entirety.

                                      2-12

<PAGE>

9.          The procedures  described in Section  3(b)(ii)(D)  of this Note
regarding the ALTERATION OF METHOD OF CALCULATION OF INDEX are hereby replaced
in its entirety as follows:

            ALTERATION OF METHOD OF CALCULATION OF THE SPOT RATE. Spot Rates for
            deliverable Currencies are normally determined by the Calculation
            Agent as observed through trades through Electronic Broking
            Services, Reuters Dealing 3000. Spot Rates for non-deliverable
            Currencies are normally determined by the Calculation Agent by
            reference to an "indicative survey" for that Currency. If the normal
            price sources are not available, then the Spot Rate is calculated as
            the arithmetic mean of the applicable Spot Rate quotations secured
            by the Calculation Agent at approximately 10:00 a.m., New York City
            time, on such date for the purchase or sale for settlement two
            Business Days later. If fewer than two dealers provide such Spot
            Rate quotations, then such Spot Rate is calculated as the arithmetic
            mean of the applicable Spot Rate quotations received by the
            Calculation Agent at approximately 10:00 a.m., New York City time,
            on such date from three leading commercial banks in New York
            (selected in the sole discretion of the Calculation Agent), for the
            sale by such banks of the settlement two Business Days later. If
            these Spot Rate quotations are available from fewer than three such
            banks, then the Calculation Agent, in its sole discretion, shall
            determine which Spot Rate is available and reasonable to be used. If
            no Spot Rate quotation is available, then such Spot Rate is the rate
            the Calculation Agent, in its sole discretion, determines to be fair
            and reasonable under the circumstances at approximately 10:00 a.m.,
            New York City time, on such date.

                                      2-13Exhibit 10.1

EXECUTION VERSION

ASSET PURCHASE AGREEMENT

          This ASSET PURCHASE AGREEMENT dated as of May 9, 2008 (the “Agreement”), by and among
COSCO Capital Management LLC, a New York limited liability company (“CCM”), COSCO Capital
Texas LP, a Texas limited partnership (“CTLP”), Private Energy Securities, Inc., a
Connecticut corporation (“PESI” and together with CCM and CTLP sometimes hereinafter called a “Seller” and
collectively the “Sellers”), Cameron O. Smith (“Smith”), William E. Weidner (“Weidner”), Lane W. McKay (“McKay”) and T. Prescott Kessey (“Kessey”), on the one hand, and Rodman & Renshaw Capital Group, Inc., a Delaware
corporation (“Rodman”) and Rodman & Renshaw, LLC, a
Delaware limited liability company (“RRLLC”), on the other hand.  Capitalized terms used herein and not otherwise defined shall have the respective meaning assigned to such terms
in Exhibit A annexed hereto and on the Schedules hereto. 

W I T N E S S E T H: 

          WHEREAS, CCM desires to sell to RRLLC, and RRLLC desires to purchase from CCM, substantially all of CCM’s assets;

            WHEREAS, CTLP
  desires to sell to RRLLC, and RRLLC desires to purchase from CTLP, substantially all of CTLP’s assets;

          WHEREAS, PESI desires to sell to RRLLC and RRLLC desires to purchase from PESI
  substantially all of PESI’s assets;

          WHEREAS, Smith, Weidner, McKay and Kessey (each sometimes hereinafter called an “Interestholder” and collectively the
“Interestholders”) own all of the issued and outstanding membership interests in CCM and limited partnership interests in CTLP;

          WHEREAS, Smith and Weidner own all of the issued and outstanding shares of the capital stock of PESI;

          WHEREAS, RRLLC is a wholly owned subsidiary
  of Rodman; and

          WHEREAS, RRLLC’s acquisition of CCM’s, CTLP’s and PESI’s assets will allow RRLLC to continue to operate the business previously operated by PESI, CCM and
  CTLP, consistent with past practice, of providing financing and advisory services to companies in the energy exploration and production sector (the “Acquired Business”).
  

          NOW, THEREFORE, in consideration of the foregoing and the mutual covenants in

this Agreement, the parties hereby agree as follows:

ARTICLE I 

PURCHASE AND SALE OF ASSETS 

          1.01      Purchase of CCM Assets. On the terms and subject to the conditions set forth herein, on the Closing Date (as defined below), RRLLC shall purchase from CCM, and CCM
shall sell, assign, transfer, convey and deliver to RRLLC, all of CCM’s right, title and interest in and to all of the assets and properties of CCM, as the same shall exist on the Closing Date, except for the CCM Excluded Assets (as defined
below) (all of such assets and properties being hereinafter collectively referred to as the “CCM Purchased Assets”). 

           1.02      List of CCM Assets.  Except as otherwise expressly provided in Section 1.03 hereof, the CCM Purchased Assets shall include, without limitation, all of CCM’s
right, title and interest in and to: 

- 2 -

(a)     cash and cash equivalents; 

(b)     all rights and privileges
under and pursuant to the Assumed Contracts (as defined below);

 (c)     miscellaneous
deposits and prepaid expenses;

 (d)     machinery
and equipment;

 (e)     office
furniture and fixtures;

 (f)     all
Intellectual Property Rights;

 (g)     all
licenses and permits relating to CCM;

 (h)     the
goodwill of CCM;

 (i)     all
claims against third parties relating to items included in the CCM Purchased Assets;

  (j)     all customer lists, and
other records that relate to the CCM Purchased Assets or the Assumed Liabilities
(as defined below); and

 (k)     all
    of the outstanding shares of the capital stock of COSCO Canada Ltd., an Alberta
    corporation (“CCL” and together with CCM, CTLP and PESI sometimes hereinafter called a “Company and collectively the
  “Companies”). 

 1.03     CCM
Excluded Assets.  The CCM Purchased Assets shall not include the following (the “CCM Excluded Assets”):

 (a)     the
    COSCO tradename and all related trademarks and service marks, including without
  limitation all applications with respect thereto; 

(b)     CCM’s accounting and tax records and files; 

(c)     CCM’s formation data, seals, and minutes or consents
of meetings of CCM’s managers and members;

- 3 -

 (d)     any contracts and leases
to which CCM is a party, except Assumed Contracts;

 (e)     CCM’s right, title and interest in and to those assets held with respect to any Employee Plan (as defined below);

 (f)     CCM’s claims,
  causes of action, rights of recovery, rights of set off, rights of recoupment and attorney-client work product and other legal privileges to the extent relating to any of the CCM Excluded Assets or the Excluded Liabilities (as defined below);

 (g)     CCM’s company charter, taxpayer and other identification numbers, seals, minute books, and other documents relating to the organization, maintenance, and existence of CCM as a limited liability company;

 (h)     CCM’s books, records, files,
  documents, correspondence, and other printed or written materials related to the CCM Excluded Assets or the Excluded Liabilities; 

(i)     CCM’s Tax Returns and any rights to Tax refunds and prepaid Taxes; 

(j)     CCM’s rights and interest in this Agreement and any
other agreements or instruments to be executed by CCM
in connection with its sale of the CCM Purchased Assets and other transactions
contemplated by this Agreement;

 (k)     any
  rights related to the CCM Excluded Assets or the Excluded Liabilities; and

 (l)     those
    assets set forth on Schedule
  1.03. 

 1.04     Purchase
of CTLP Assets.
On the terms and subject to the conditions set forth herein,
on the Closing Date (as defined below), RRLLC shall purchase from CTLP, and CTLP

- 4 -

shall sell, assign, transfer, convey and deliver to RRLLC, all of CTLP’s right, title and interest in and to all of the assets and properties of CTLP, as the same shall exist on the Closing Date, except for the CTLP Excluded
Assets (as defined below) (all of such assets and properties being hereinafter collectively referred to as the “CTLP Purchased Assets”). 

 1.05     List
of CTLP Assets. Except as expressly provided in Section 1.06 hereof, the CTLP Purchased Assets shall include, without limitation, all of CTLP’s right,
title and interest in and to:

 (a)     cash
  and cash equivalents;

 (b)     all
rights and privileges under and pursuant to the Assumed Contracts;

 (c)     miscellaneous
deposits and prepaid expenses;

 (d)     machinery
and equipment;

 (e)     office
    furniture and fixtures;

 (f)      all
Intellectual Property Rights;

 (g)     all
licenses and permits relating to CTLP;

 (h)     the
goodwill of CTLP;

 (i)      all
claims against third parties relating to items included in the CTLP Purchased
Assets; and 

  (j)      all customer lists, and
other records that relate to the CTLP Purchased Assets
or the Assumed Liabilities. 

 1.06     CTLP
Excluded Assets.
The CTLP Purchased Assets shall not include the following
(the “CTLP Excluded Assets”): 

- 5 -

 (a)     the COSCO tradename and
all related trademarks and service marks, including without limitation all applications
with respect thereto;

(b)     CTLP’s accounting and tax records and files; 

(c)     CTLP’s formation data, seals, and minutes of meetings or consents of CTLP’s
general partner or limited partners;

(d)     any
contracts and leases to which CTLP is a party, except Assumed Contracts;

 (e)     CTLP’s right, title and interest in and to those assets held with respect to any Employee Plan (as defined below);

 (f)      CTLP’s
  claims, causes of action, rights of recovery, rights of set off, rights of recoupment and attorney-client work product and other legal privileges to the extent relating to any of the CTLP Excluded Assets or the Excluded Liabilities;

 (g)     CTLP’s
  company charter, taxpayer and other identification numbers, seals, minute books, and other documents relating to the organization, maintenance, and existence of CTLP as a limited partnership;

 (h)     CTLP’s
  books, records, files, documents, correspondence, and other printed or written
  materials related to the CTLP Excluded Assets or the Excluded Liabilities;

(i)      CTLP’s Tax Returns and any rights to Tax refunds and prepaid Taxes;

(j)      CTLP’s rights and interest in this Agreement and any other agreements
or instruments to be executed by CTLP in connection
with its sale of the CTLP Purchased Assets and other
transactions contemplated by this Agreement; 

- 6 -

(k)     any rights related to the
CTLP Excluded Assets or the Excluded Liabilities; and

 (l)      those
assets set forth on Schedule 1.06. 

 1.07     Purchase
of PESI Assets. On the terms and subject to the conditions set forth herein, on the Closing Date (as defined below), RRLLC shall purchase from PESI, and
PESI shall sell, assign, transfer, convey and deliver to RRLLC, all of PESI’s right, title and interest in and to all of the assets and properties of PESI, as the same shall exist on the Closing Date, except for the PESI Excluded Assets (as
defined below) (all of such assets and properties being hereinafter collectively referred to as the “PESI Purchased Assets” and together with the CCM Purchased Assets and the CTLP
Purchased Assets the “Purchased Assets”). 

 1.08     List
of PESI Assets.  Except as otherwise expressly provided in Section 1.09 hereof, the PESI Purchased Assets shall include, without limitation, all of PESI’s
right, title and interest in and to:

(a)      cash
and cash equivalents in excess of $20,000:

(b)     all
rights and privileges under and pursuant to the Assumed Contracts;

(c)     miscellaneous
deposits and prepaid expenses;

(d)     machinery
and equipment;

(e)     office
furniture and fixtures;

(f)      all
Intellectual Property Rights;

(g)     all
licenses and permits relating to PESI;

(h)     the
goodwill of PESI;

(i)      all
claims against third parties relating to items included in the PESI Purchased
Assets; and

- 7 -

(j)      all customer lists,
and other records that relate to the PESI Purchased Assets
or the Assumed Liabilities. 

 1.09     PESI
Excluded Assets.  The PESI Purchased Assets shall
not include the following (the “PESI
Excluded Assets”): 

(a)     PESI’s accounting and tax records and files;

(b)     PESI’s formation data, seals, and minutes or consents of meetings of PESI’s
board of directors or shareholders;

(c)     any
contracts and leases to which PESI is a party, except Assumed Contracts;

 (d)     PESI’s right, title and interest in and to those assets held with respect to any Employee Plan (as defined below);

 (e)     PESI’s
  claims, causes of action, rights of recovery, rights of set off, rights of recoupment and attorney-client work product and other legal privileges to the extent relating to any of the PESI Excluded Assets or the Excluded Liabilities;

 (f)      PESI’s
  company charter, taxpayer and other identification numbers, seals, minute books, and other documents relating to the organization, maintenance, and existence of PESI as a limited liability company;

 (g)     PESI’s books, records, files, documents,
  correspondence, and other printed or written materials related to the PESI Excluded Assets or the Excluded Liabilities;

 (h)     PESI’s
  Tax Returns and any rights to Tax refunds and prepaid Taxes;

(i)     PESI’s
    rights and interest in this Agreement and any other agreements or instruments
    to be executed by PESI in connection with its sale of the PESI Purchased
    Assets and other transactions contemplated by this Agreement;

- 8 -

(j)      any
rights related to the PESI Excluded Assets or the Excluded Liabilities;

(k)     $20,000
of cash; and

(l)      those
assets set forth on Schedule 1.09

1.10     CCM Instruments of Transfer.
    On the Closing Date, CCM shall deliver, or cause to be delivered, to RRLLC:
    (a) duly executed instruments of transfer and assignment, including, without
    limitation, bills of sale and an assignment and assumption agreement in form
    and substance reasonably satisfactory to the Sellers and their counsel (the “Assumption Agreement”), and the certificate(s) representing 100% of the outstanding shares of CCL, endorsed in blank, all in form and substance reasonably satisfactory to RRLLC and its counsel,
sufficient to vest in RRLLC valid title to all of CCM’s right, title and
interest in and to the CCM Purchased Assets, free and clear of all mortgages,
claims, liens, charges or encumbrances of any kind or nature whatsoever; and
(b) a check in the amount of all cash and cash equivalents included in the CCM
Purchased Assets. 

 1.11     CTLP
Instruments of Transfer. On the Closing Date, CTLP
shall deliver, or cause to be delivered, to RRLLC: (a) duly executed  instruments
of transfer and assignment, including, without limitation, bills of sale and
the Assumption Agreement, all in form and substance reasonably satisfactory to
RRLLC and its counsel, sufficient to vest in RRLLC valid title to all of  CTLP’s
right, title and interest in and to the CTLP Purchased Assets, free and clear
of all mortgages, claims, liens, charges or encumbrances of any kind or nature
whatsoever; and (b) a check in the amount of all cash and cash equivalents included
in the CTLP Purchased Assets.

1.12     PESI
      Instruments of Transfer. On the Closing Date,
      PESI shall deliver, or cause to be delivered, to RRLLC: (a) duly executed
instruments of transfer and assignment,

- 9 -

including, without limitation, bills of sale and the Assumption Agreement, all in form and substance
    reasonably satisfactory to RRLLC and its counsel, sufficient to vest in RRLLC
    valid title to all of PESI’s right, title and interest in and to the
    PESI Purchased Assets, free and clear of all mortgages, claims, liens, charges
    or encumbrances of any kind or nature whatsoever; and (b) a check in the
amount of all cash and cash equivalents included in the PESI Purchased Assets. 

1.13     Assumption.

  (a)     Upon the transfer of the
Purchased Assets to RRLLC on the Closing Date, RRLLC shall, pursuant to the Assumption
Agreement, assume and agree to timely pay, perform and discharge those obligations
and liabilities of each Seller in accordance with their respective terms (the “Assumed
Liabilities”): (i) which are included in the
determination of the Closing Date Working Capital (as defined below);  and (ii)
which arise from and after the Closing Date under those agreements of Sellers
set forth on Schedules 4.14 or 4.15 annexed
hereto which are specifically designated to be assumed by  RRLLC on such Schedule,
(the “Assumed Contracts”);
provided, however, that to the extent that (x) consent to the assignment on an
Assumed Contract is required, or (y) an Assumed  Contract is not assignable and,
in either case, consent to the assignment of such Assumed Contract is not obtained,
RRLLC shall, nevertheless, assume and agree to pay, perform and discharge the
obligations and liabilities of such Seller under such  Assumed Contract to the
extent that RRLLC receives the benefits thereof, and the parties will cooperate
with respect to each such Assumed Contract so that RRLLC performs all remaining
obligations required of such Seller thereunder and RRLLC receives all remaining
rights and benefits of such Seller thereunder.

(b)     Except
as is otherwise specifically set forth in this Agreement, Rodman and RRLLC
shall not and does not assume any liability of any Seller (the “Excluded
Liabilities”).

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ARTICLE II 

CONSIDERATION; CLOSING 

2.01     Consideration; Payment of Consideration Allocation. 

 (a)     The “Consideration” to be paid to CCM, CTLP and PESI for the Purchased Assets shall consist of (a) the “Fixed Price”
(as defined below), plus (b) the “Variable Price” (as defined below), plus (c) the “Earn Out Price” (as defined below), which Fixed Price, Variable Price and Earn Out Price shall respectively be paid in the manner set forth
herein. 40% of the Consideration shall be allocated to the purchase of the CCM Purchased Assets (the “CCM Consideration”), 40% of the Consideration shall be allocated to the purchase of the CTLP Purchased Assets (the “CTLP Consideration”), and 20% of the Consideration shall be
allocated to the purchase of the PESI Purchased Assets (the “PESI Consideration”).

(b)     The
    parties agree that the CCM Consideration shall be allocated to the various
    assets and properties included in the CCM Purchased Assets in the manner
    set forth on Schedule 2.01A hereto,
    that the CTLP Consideration shall be allocated to the various assets and
    properties included in the CTLP Purchased Assets in the manner set forth
    on Schedule 2.01B hereto,
    and that the PESI Consideration shall be allocated to the various assets
    and properties included in the PESI Purchased Assets in the manner set forth
    on Schedule 2.01C hereto.
    Rodman and the Sellers agree to prepare and file all income tax returns (including,
    if applicable, Form 8594) in a manner consistent with the foregoing Allocation
    and will not in  connection with the filing of such returns make any allocation
    of the Consideration which is contrary to the Allocation. Rodman and the
    Sellers agree to consult with each other with respect to all issues relating
    to the Allocation in connection with any tax audits, controversy or litigation.

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2.02     Fixed Price.
The “Fixed Price” shall
be equal to ten million one hundred thousand dollars  ($10,100,000), and
shall be paid by RRLLC to the Sellers as follows: (a) at the Closing, six million
seventy-five thousand dollars ($6,075,000), shall be paid in cash, and two
million twenty-five thousand dollars ($2,025,000) shall be
paid by delivering to the Sellers that number of shares of the Common Stock,
par value $.001 per share, of Rodman (“Rodman
Stock”) as shall be equal to $2,025,000
divided  by the average of the closing prices of a share of Rodman Stock (the “First
Average Price”) as reported by the NASDAQ
stock exchange (or if the Rodman Stock is not then listed on  the NASDAQ stock
exchange the primary exchange on which the Rodman Stock is then listed) for the
ninety (90) calendar days immediately preceding the Closing Date (the “First
Consideration Shares”); (b) on the first anniversary
of the Closing Date (the “First Anniversary”),
seven hundred fifty thousand dollars ($750,000) shall be paid in cash, and
two  hundred fifty thousand dollars ($250,000) shall be paid by delivering
to the Sellers that number of shares of Rodman Stock as shall be equal to $250,000
divided by the average of the closing prices of a share of Rodman Stock as reported
by  the NASDAQ stock exchange (or if the Rodman Stock is not then listed on the
NASDAQ stock exchange the primary exchange on which the Rodman Stock is then
listed) for the ninety (90) calendar days immediately preceding the First Anniversary
(the
“Second Consideration Shares”);
and (c) on the second anniversary or the Closing Date (the “Second
Anniversary”), seven hundred fifty thousand
dollars ($750,000) shall be paid in cash, and two hundred fifty thousand
dollars ($250,000) shall be paid by delivering to the Sellers that number
of shares of Rodman Stock as shall be equal  to two hundred fifty
thousand dollars ($250,000) divided by the average of the closing prices
of a share of Rodman Stock as reported by the NASDAQ stock exchange (or if the
Rodman Stock is not then listed on the NASDAQ stock exchange the primary exchange
on which the Rodman Stock is then

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listed) for the ninety (90) calendar days immediately preceding
the Second Anniversary (the “Third Consideration Shares”).

2.03     Variable
Price.

(a)     The “Variable
      Price” shall be equal to the lesser
of:

(i)      four
million dollars ($4,000,000); or

(ii)     an
amount equal to one hundred thirty-five percent (135%) of the Committed
Revenue (as defined below) actually collected by Rodman or its affiliates (the “Rodman
Group”) for the period (the “VP
Period”) beginning on the first day of the
month following the Closing Date (the “VP Start
Date”) and ending on the last day of
the twenty-first month following the VP Start Date (the “VP
End Date”). 

(b)     “Committed Revenue” shall mean all revenue of the Rodman Group which is earned pursuant to those financing arrangements set
forth on Schedule 2.03 hereto; provided that, at any time prior to the Closing, the Sellers may update Schedule
2.03 to add or remove financing arrangements with third parties (the financing arrangements set forth on Schedule 2.03 at the Closing Date are the
“Financing Arrangements”); provided further that the Committed Revenue shall not include any revenue of the Rodman Group
which is earned on account of any new financing engagement entered into subsequent to the Closing Date, with a person that is a party to any Financing Arrangement.

(c)     The
Variable Price shall be paid by RRLLC to the Sellers as follows:

(i)     on
    or before the 15th day
    of each March, June, September and December during the VP Period, and on
    or before the 15th day
    following the VP End Date, Rodman will pay to the Sellers (a “VP
    Payment”) an amount equal to one hundred
    thirty-five percent (135%) of the Committed Revenue collected by the Rodman
Group, as mutually

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determined by Rodman and the Interestholder Representative,
during the period beginning on the later of (1) the VP Start Date or (2) the
first day of the third month preceding the date of such payment and ending on
the last day of the month preceding the date of such payment; 75% of each such
VP Payment shall be payable in cash and 25% of each such VP Payment (a “VP 25%
Payment”) shall be payable by delivering to the Interestholders that number of shares of Rodman Stock as shall be equal to such VP 25% Payment divided by the average of the closing prices of a share of Rodman Stock
as reported by the NASDAQ stock exchange (or if the Rodman Stock is not then listed on the NASDAQ stock exchange the primary exchange on which the Rodman Stock is then listed) for the ninety (90) calendar days immediately preceding the date of such
payment (the “Variable Consideration Shares”); and

 (ii)     Notwithstanding
    anything to the contrary that may be contained herein, in no event shall
  the aggregate amount of all VP Payments exceed four million dollars ($4,000,000). 

(d)     Notwithstanding Section 10.10,
to the extent that Rodman and the Interestholder Representative cannot agree
on the Committed Revenue for the VP Period, such dispute shall be settled as
follows: Rodman and the Interestholder Representative shall promptly endeavor
to resolve any such dispute through good faith negotiations; provided that if
Rodman and the Interestholder Representative fail to reach an agreement with
respect to such matters through such good faith negotiations on or before the
thirtieth (30th) day after such disagreement arose, then, as to any matters in
dispute, Rodman shall promptly select a firm of independent public accountants
of recognized national standing that has not rendered services to Rodman, or
any of its affiliates, for at least three years, and that is not otherwise affiliated
with Rodman or any of its affiliates, and such accounting firm shall promptly
make an independent determination 

- 14 -

of such matters as to which disagreement remains, which determination
shall be conclusive and binding on the parties hereto. Within ten (10) days of
such final determination, RRLLC shall pay to the VP Payment to the Sellers. The
fees of any such accounting firm in connection with such determination shall
be paid by 50% by Rodman and 50% by the Sellers. 

2.04     Earn Out Price. The “Earn Out Price” shall be calculated as follows: 

(a)     If the “Attributed Revenue” (as determined as provided on Schedule 2.04 hereto) for the two-year period (the “Attributed Revenue Period”) beginning on first day of the month following the Closing Date and ending on the last day of the twenty-fourth month following the Closing Date (the
“Two Year Attributed Revenue”) equals or exceeds twelve million dollars ($12,000,000), the Earn Out Price shall be:

 (i)       if the Two Year
  Attributed Revenue equals or exceeds twelve million dollars ($12,000,000) and is less than fourteen million dollars ($14,000,000), the Earn Out Price shall be equal to fifteen percent (15%) of such Two Year Attributed Revenue;

 (ii)      if the Two Year Attributed Revenue equals or exceeds fourteen million dollars ($14,000,000) and is less than seventeen million dollars ($17,000,000), the Earn Out Price shall be equal to twenty percent (20%) of such Two Year
  Attributed Revenue;

 (iii)     if
    the Two Year Attributed Revenue equals or exceeds seventeen million dollars
    ($17,000,000) and is less than twenty million dollars ($20,000,000), the Earn
  Out Price shall be equal to twenty-five percent (25%) of such Two Year Attributed Revenue;

(iv)     if
    the Two Year Attributed Revenue equals or exceeds twenty million dollars
    ($20,000,000) and is less than forty million dollars ($40,000,000),
    the Earn Out Price shall be equal to thirty percent (30%) of such Two Year
Attributed Revenue; and

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(v)      If
    the Two Year Attributed Revenue equals or exceeds forty million dollars ($40,000,000), the Earn Out
Price shall be twelve million dollars ($12,000,000).

(b)     If
    the Two Year Attributed Revenue is less than twelve million dollars ($12,000,000),
    the Earn Out Price shall be zero ($0).

(c)     The
    Earn Out Price, if any, shall be paid by RRLLC to the Sellers within ten
    (10) days after the final determination thereof (provided, however, that
    if a portion of the Earn Out Price is in dispute, RRLLC shall nevertheless
    pay the undisputed portion of the Earn Out Price to the Sellers within ten
    (10) days of its determination) as follows: 25% of such Earn Out Price shall
    be payable in cash and 75% of such Earn Out Price (the “EP 75% Price”)
    shall be payable by delivering to the Interestholders that number of shares
    of Rodman Stock as shall be equal to the EP 75% Price divided by the average
    of the closing prices of a share of Rodman Stock as reported by the NASDAQ
    stock exchange (or if the Rodman Stock is not then listed on the NASDAQ stock
    exchange the primary exchange on which the Rodman Stock is then listed) for
    the ninety (90) calendar days immediately preceding the two-year anniversary
    of the Closing Date (the “Earn Out Consideration Shares” and
    together with the First Consideration Shares, the Second Consideration Shares,
the Third Consideration Shares and the Variable Consideration Shares the “Consideration Shares”). 

2.05     Fractional Shares. The determination of the number of Consideration Shares to be delivered to any Interestholder at any time shall be rounded up or down, as the
case may be, to the nearest whole share.

2.06     Minimum Share Price.
Notwithstanding anything to the contrary which may be contained herein, if the
average of the closing prices of a share of Rodman Stock as determined in connection
with the payment of any portion of the Consideration to be paid with any

- 16 -

Consideration Shares (a “Share Payment”) is less than $2.50, (as adjusted for
stock splits, reverse stock splits, stock dividends, etc.) then, and in such event, Rodman shall have the option to deliver to the Interestholders that number of shares of Rodman Stock as
shall equal the quotient obtained by dividing the amount of such Share Payment by $2.50, and paying the balance of such Share Payment in cash (i.e. if a Share Payment is $100,000 and
the average price of Rodman Stock with respect to such Share Payment is $2.00, then Rodman may make such Share Payment by either (a) 50,000 shares of Rodman Stock ($100,000 ÷ $2.00) or (b) 40,000 shares of Rodman Stock
($100,000 ÷ $2.50), plus $20,000 in cash (40,000 shares at $2.00 per share = $80,000, with the balance of the $100,000 Share Payment-- $20,000, paid in cash)). 

2.07     Registration Rights.
If at any time following the six month anniversary of the Closing Date, Rodman
shall file a registration statement pursuant to the Act (a
“Registration Statement”),
which Registration Statement includes shares of Rodman Stock to be sold by any
Person other than Rodman, and if at such time any of the Consideration  Shares
are not freely tradable under Rule 144 of the Act (the “Restricted
Consideration Shares”), then any of such Restricted
Consideration Shares will be included in such  Registration Statement; provided
that, if in connection with any offering involving an underwriting of Rodman
Stock, the managing underwriter shall impose a limitation on the number of Restricted
Consideration Shares which may be included in the  Registration Statement because,
in its judgment, such limitation is necessary to effect an orderly public distribution,
then only such limited portion, if any, of the Restricted Consideration Shares
shall be included in such Registration Statement;  provided that the number of
Restricted Consideration Shares that shall be excluded from any such offering
shall be excluded on a pro rata basis with the shares of all other selling shareholders.
This Section 2.07 shall not apply to a registration of shares of Rodman Stock
on Form S-8 or Form S-4

- 17 -

or their then equivalents relating to an offering of shares
of Rodman Stock to be issued in connection with any acquisition of an entity
or business or otherwise issuable in connection with any stock option or employee
benefit plan. 

2.08     Closing.  The closing of the transactions contemplated hereby (the “Closing”) shall take
place at the offices of Morse, Zelnick, Rose & Lander LLP, 405 Park Avenue, New York, NY 10022 at 9:00 A.M. on Monday, June 2, 2008, or at such other place, date or time as shall be mutually agreed upon by the parties (such date or such other
agreed upon time and date is called the “Closing Date”).

2.09     Working
Capital

(a)     Within
    thirty (30) days following the Closing Date, the Interestholder Representative
    will deliver to Rodman a statement (the “Working Capital
Statement”) setting forth in reasonable detail
the Working Capital of each Company as of the Closing Date (the aggregate of
the Working Capital of the Companies being hereinafter called the “Closing Date Working Capital”).

(b)     Within
    fifteen (15) days after receipt of the Working Capital Statement from the
    Interestholder Representative, Rodman shall inform the Interestholder Representative
    whether Rodman has any exceptions to the Working Capital Statement. Unless
    Rodman delivers to the Interestholder Representative within such fifteen-day
    period a notice specifying in reasonable detail any exceptions, the Working
Capital Statement shall be conclusive and binding on the parties hereto.

(c)     Notwithstanding Section 10.10,
if Rodman delivers to the Interestholder Representative a notice setting forth
any such exceptions within such fifteen-day period, Rodman and the Interestholder
Representative shall promptly endeavor to resolve the matters set forth in

- 18 -

such notice through good faith negotiations; provided that
if Rodman and the Interestholder Representative fail to reach an agreement with
respect to such matters through such good faith negotiations on or before the
fifteenth day after receipt by the Interestholder Representative of such notice,
then, as to any matters in dispute, the Interestholder Representative shall promptly
select a firm of independent public accountants of recognized national standing
who have not rendered services to any of the Interestholders, or any of their
affiliates, for at least three years, and that is not otherwise affiliated with
the Interestholders, and such accounting firm shall promptly make an independent
determination of such matters as to which disagreement remains, which determination
shall be conclusive and binding on the parties hereto. The fees of any such accounting
firm in connection with such determination shall be paid by 50% by Rodman and
50% by the Sellers. 

(d)     If
    the Closing Date Working Capital as finally determined is more than zero
    (whether by the mutual agreement of the parties hereto or by the accounting
    firm) (the “Excess Working Capital”),
    Rodman will pay to the Sellers in cash, an amount equal to the lesser of
    (1) one million four hundred eighty thousand dollars ($1,480,000) or
    (2) the Excess Working  Capital. If the Closing Date Working Capital as finally
    determined is less than zero (the “Negative
    Working Capital”), each Seller will pay
    to Rodman in cash, an amount equal to  the Negative Working Capital multiplied
    by such Seller’s percentage of the Negative Working Capital (it being
    understood that for these purposes the Working Capital of CCL shall be combined
    with the Working Capital of CCM). Any such payment will be made within ten
    (10) days after such determination.

 

- 19 -

ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF THE INTERESTHOLDERS 

Each Interestholder, for himself only, hereby represents and warrants to and agrees with RRLLC and Rodman, as follows:

 3.01 Authorization of Agreement.  This Agreement has been duly and validly executed and delivered by or on behalf of such Interestholder and constitutes a valid obligation of such Interestholder, enforceable in accordance with its terms, except to the extent that
such enforceability may be limited by applicable insolvency, bankruptcy, reorganization or similar Laws affecting the enforcement of creditors’ rights generally or by general equity principles. No consent, authorization or approval of,
exemption by, or filling with any Governmental Entity is required to be obtained or made by such Interestholder in connection with the execution, delivery and performance of this Agreement or the consummation of the transactions contemplated hereby.

3.02     No Conflict. The performance of this Agreement by such Interestholder and the consummation of the
transactions contemplated hereby will not result in a breach or violation of any of the terms or provisions of, or constitute a default under, any material contract or other agreement or instrument to which such Interestholder is a party; (b) any
law, order, rule, regulation, writ, injunction or decree applicable to such Interestholder. 

3.03     Interests in Property
or Activities of the Companies. Except as set forth
on Schedule 3.03,
such  Interestholder (a) does not own any property or right, tangible or intangible,
which is used in the Acquired Business, and (b) is not a party to any contract
or other arrangement, written or verbal, with any Company,
in each case related to the Acquired Business.

- 20 -

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF THE SELLERS, THE 

INTERESTHOLDERS WITH RESPECT TO THE COMPANY 

The Sellers and the Interestholders jointly and severally, hereby represent and warrant to and agree with RRLLC and Rodman as follows:

4.01     Organization and Good
Standing.  Except as set forth on Schedule 4.01: (a) CCM is a limited liability
company duly organized, validly existing and in good standing under the laws of the State of New York; (b) CCL is a corporation duly organized, validly existing and in good standing under the laws of Alberta, Canada; (c) PESI is a corporation duly
organized validly existing and in good standing under the laws of the State of Connecticut; and (d) CTLP is a limited partnership duly organized, validly existing and in good standing under the laws of the State of Texas. Each Company has full power
and authority to conduct its business as it is now conducted and to own or lease and operate the assets and properties now owned or leased and operated by it. Each Company is duly qualified to do business and is in good standing in each jurisdiction
in which the nature of its business or the character of its properties requires such qualification, except where the failure to be so qualified would not have a Material Adverse Effect. 

4.02     Capitalization of the
Company; Options, Etc.
The owners of all of the equity interests of each Company and their respective
percentage interest thereof is as set  forth on Schedule
4.02. None of the Companies has outstanding (i)
any options, warrants or other rights to purchase, acquire or convert into, any
equity, membership or partnership interest, as the case may be, in such Company,
or (ii) any other agreement or right (preemptive, contractual or otherwise)
to issue or sell any such equity, membership or partnership interest.

- 21 -

4.03     Subsidiaries. Except as set forth on Schedule 4.03, none of the Companies owns any equity interest,
directly or indirectly, in any corporation, company, partnership, trust, joint venture or other entity.  Schedule 4.03 contains a true and correct copy of the Certificate of Incorporation
and By Laws of CCL. 

4.04     Authority and Compliance. Each Seller has full corporate power and authority to execute and deliver this Agreement. The consummation and performance by each
Seller of the transactions contemplated by this Agreement have been duly and validly authorized by all necessary corporate or limited liability company actions.  This Agreement has been duly and validly executed and delivered on behalf of each
Seller and constitutes a valid obligation of each Seller, enforceable in accordance with its terms, except to the extent that such enforceability may be limited by applicable insolvency, bankruptcy, reorganization or similar Laws affecting the
enforcement of creditors’ rights generally and by general equity principles. 

4.05     No Conflict.  Except as set forth on Schedule 4.05, the performance of this Agreement and the
consummation of the transactions contemplated hereby will not result in a breach or violation of any of the terms or provisions of, or constitute a default under (i) any Assumed Contract or other agreement or instrument relating to the Purchased
Assets, (ii) the Certificate of Formation or the Operating Agreement of CCM or the articles of incorporation or by-laws of PESI, or (iii) any law, order, rule, regulation, writ, injunction or decree applicable to the Sellers. 

4.06     Authorizations and Consents.
No consent, authorization or approval of, exemption
by, or filling with any Governmental Entity is required to be obtained or made
by any Seller in connection with the execution, delivery
and performance of this Agreement or the consummation of the transactions contemplated
hereby.

- 22 -

4.07     Financial
Statements; Liabilities. 

(a)     Schedule 4.07 contains copies of (i) the consolidated financial statements of CCM and its subsidiaries, (ii) the financial statements of
CTLP, and (iii) the financial statements of PESI, for the three years ended December 31, 2007, December 31, 2006, and December 31, 2005, (the “Financial Statements”). Except as set
forth on Schedule 4.07, each of the Financial Statements fairly present in all material respects the financial position of CCM and its subsidiaries, CTLP and PESI, as the case may be, at
December 31, 2007, December 31, 2006 and December 31, 2005 respectively, and the results of operations for each of the years then ended, in conformity with GAAP applied on a basis consistent with prior periods.

(b)     The
    Companies do not have any Liabilities, except for (i) the Liabilities set
    forth on Schedule 4.07,
    and (ii) Liabilities reflected in the books and records of the Companies
    all of which have arisen in the ordinary course of business. Since December
    31, 2007 (the “Latest Balance Sheet Date”),
    no Company has experienced any loss contingencies (as such term is used in
    Statement of Financial Accounting Standards No. 5 issued by the Financial
Accounting Standards Board in March 1975). 

4.08     Assets. 

(a)     Except as set forth on Schedule
4.08, one or more of the Sellers has good and valid
title to each item of personal property included in  the Purchased Assets, free
and clear of all liens, pledges, mortgages, security interests, conditional sales
contracts and other encumbrances of any kind or nature.

(b)     The
    Purchased Assets being conveyed hereunder constitute such assets as are necessary
to permit Buyer to continue the Acquired Business in a manner substantially

- 23 -

 similar to the manner in which the Sellers
are operating the Acquired Business on the date hereof.

4.09     Compliance
      with Law. The operation by each Company of its business and the use and occupancy of its assets and properties is in compliance with all, and not in
  violation of any applicable Law to which such Company or its assets are subject, except where such non-compliance or violation would not have a Material Adverse Effect. Each Company has obtained and adhered to the requirements of any government
  Permits necessary to the operation of its business, a list of all of such Permits being set forth on Schedule 4.09.

4.10     Absence
      of Certain Events.  Except as set forth on Schedule 4.10, since the Latest Balance Sheet Date,
no Company has:

 (a)     incurred any Liabilities, other than Liabilities incurred in the ordinary course of business consistent with past practice;

 (b)     sold, assigned or transferred any of its assets or properties except in the ordinary course of business consistent with past practice;

 (c)     created, incurred, assumed or guaranteed
  any indebtedness for money borrowed (other than in the ordinary course of business consistent with past practice), or mortgaged, pledged or subjected to any lien, pledge, mortgage, security interest, conditional sales contract or other encumbrance
  any of its assets or properties;

 (d)     amended
    or terminated any material contract, commitment or agreement to which it
    is a party or by which it is bound, or canceled, modified or waived any
    material debts or claims held by it, in each case other than in the ordinary
    course of business consistent with past practice,
    or waived any rights of substantial value, whether or not in the ordinary
    course of business; or

- 24 -

 

 (e)     entered
      into any material transaction or operated other than in the ordinary course
      of business consistent with past practice.

4.11     Taxes
and Tax Returns. 

(a)     CCM has not made an election
to be taxed as a corporation for Federal and state income tax purposes.

(b)     Except
    as set forth on Schedule 4.11, each Company has (i) timely filed all Tax Returns required to be filed by it through the Closing
Date with the appropriate Governmental Entities in all jurisdictions in which such Tax Returns are required to be filed, and such Tax Returns were true, correct and complete in all material respects, (ii) timely paid or caused to be paid all Taxes
required to be paid through the date hereof and as of the Closing Date (whether or not shown due on any Tax Return), and (iii) not requested or caused to be filed or caused to be requested any extension of time within which to file any Tax Return,
which Tax Return has not since been filed.

(c)     Neither
    any Company nor any Interestholder have been notified that either the IRS
    or any other Governmental Entity has raised any issues in connection with
    any Tax Return of any Company or relating to Taxes. There are no pending
    Tax audits and no waivers of statutes of limitations have been given or requested
with respect to any Company.

(d)     Each
    Company has complied in all material respects with all applicable Laws relating
    to the collection, withholding and payment of Taxes (such as required to
    have been withheld and paid in connection with amounts paid or owing to any
employee, independent contractor, creditor, member, or any other third party).

(e)     No
    written claim has ever been made by any Governmental Entity in a jurisdiction
  in which any Company does not file Tax Returns that any such Company is or
  may

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be subject to taxation by that
jurisdiction, and to the actual knowledge of the Sellers and the Interestholders,
no basis exists for any such claim to be made. 

(f)      No Company is required to
include in income during a taxable period that ends after the Closing Date any
income that economically accrued and was accounted for prior to the Closing Date
by reason of the installment method of accounting, open transaction reporting,
the completed contract method of accounting or otherwise.

(g)     Schedule
      4.11 lists all the jurisdictions in which
      each Company is required to file Tax Returns
      or pay Taxes.

(h)     There
    are no liens for Taxes (other than Taxes not yet due and payable) upon
    any of the assets of any Company.

(i)      No
    Company has made any payments, and is not obligated to make any payments
    in connection with the transactions contemplated by this Agreement, that
    would be excess parachute payments within the meaning of Section 280G of
the Code (or any similar provision of state, local or foreign Tax Law).

(j)      No
    Company has entered into, or otherwise participated (directly or indirectly)
    in any “listed transaction” within the meaning of Treasury Regulations Section 1.6011-4(b)(2) or any
other “reportable transaction” within the meaning of Treasury Regulations
Section 1.6011-4(b). 

4.12     Patents,
Trademarks, Copyrights, etc. Each Company owns
or validly licenses all Intellectual Property Rights utilized in and necessary
to the conduct of its  business as currently being conducted (the “Company
Rights”).  As of the Closing, Schedule
4.12 will contain a complete
and correct list of all Company Rights indicating, where applicable, the registered
and beneficial owner and the expiration date thereof. To the actual knowledge
of the

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Sellers, the conduct of the business of
each Company as currently conducted does not infringe upon the valid Intellectual
Property Rights of others in any way. 

4.13     Legal Proceedings, Etc.  Except as set forth on Schedule 4.13, there are no claims, actions, suits,
proceedings, arbitrations or investigations, either administrative or judicial, pending or, to the actual knowledge of the Interestholder, threatened by, or against any Company, or affecting its business or any of its assets or properties, or
specifically relating to the transactions contemplated by this Agreement, at law or in equity or otherwise, before or by any Governmental Entity which could have a Material Adverse Effect.

4.14     Real
      Property. No Company owns any real property. Schedule 4.14 sets forth all real property leases
under which each Company is a lessee. All such leases are valid and binding, and are in full force and effect and to the actual knowledge of the Sellers and the Interestholders, there are no existing material defaults by such Company thereunder; and
no event has occurred which (whether with or without notice, lapse of time, or both) would constitute a material default thereunder by such Company.

4.15     Contracts
      and Commitments.  Except as set forth on Schedule 4.15, or any other Schedule annexed hereto,
no Company is a party to any:

 (a)     Contract or Contracts for the borrowing of money or for a guarantee, pledge or undertaking of the indebtedness of any other person;

(b)     Contract limiting or restraining in any respect such Company or any of the Interestholders from engaging or competing in any lines of business or with any person;

 (c)     any employment or consulting Contract;

(d)     any
    Contract to perform services by such Company involving receipt by such Company
of an amount in the aggregate in excess of $25,000;

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 (e)     Lease
      relating to personal property involving annual payments by or to such Company
in excess of $10,000;

 (f)      Contract
  with any labor union; or

 (g)     any
  other Contract that is material to the operation of the business of such
  Company or entered into otherwise than in the ordinary course of business.

With respect to each of the Contracts listed on any Schedule to this Agreement, (i) such Contract is valid and enforceable in accordance with its terms, except to the extent that such enforceability
may be affected by applicable bankruptcy, insolvency, reorganization, moratorium, or other Laws relating to or affecting the rights and remedies of creditors generally or general equity
principles, and (ii) the Company which is a party thereto is in compliance with the provisions thereof in all respects except where the failure to so be in compliance would not have a Material Adverse Effect.  Except as set forth on Schedule 4.15, the transactions contemplated by this Agreement, will not (i) result in the automatic termination of any Contract listed on any Schedule to this Agreement, (ii) result in the automatic
amendment of any of the terms of any such Contract, or (iii) give rise to a right in any party to unilaterally amend the terms of, or terminate, any such Contract.

4.16     Employee
Benefits.

(a)     Schedule
4.16(a) contains a true, correct and complete list
of Employee Benefit Plans (collectively, the “Employee
Plans”) with respect to which any Company
is obligated to contribute or has or has had any actual or potential Liability
at any time during the six-year period ending on the Closing Date. Any Employee
Plan which is intended to meet the qualification requirements
of Section 401(a) of the Code is noted on Schedule
4.16(a).

(b)     With
respect to each Employee Plan: 

 

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(i)       all
    required, declared or discretionary (in accordance with historical practices)
    payments, premiums, contributions, reimbursements or accruals for all periods
    ending prior to, or as of, the date hereof have been properly paid or properly
    accrued on the Financial Statements, and with respect to accruals properly
    made after the Latest Balance Sheet Date, on the books and records of such
Company;

 (ii)      there
  is no unfunded actual or potential Liability relating to such Employee Plan:

 (iii)     except
    as may be required under Laws of general application (including without limitation
    the Consolidated Omnibus Budget Reconciliation of 1985 (“COBRA”)), no Employee Plan obligates any Company to provide any employee or former employee, or their spouses, family members or beneficiaries, any post-employment or post-retirement health or life
    insurance, accident or other “welfare-type” benefits;

 (iv)     no
    Company has ever maintained or been obligated to contribute to a “multiemployer plan” (as defined in Section 3(37) of ERISA), a “multiple employer plan” (as
  defined in Section 413 of the Code) or a “defined benefit pension plan” (as
  defined in Section 3(35) of ERISA);

 (v)      such
    Employee Plan has been established and operated for the exclusive benefit
  of the participants and beneficiaries of such Employee Plan;

 (vi)     such
    Employee Plan has been established, maintained, operated and administered
    in accordance with its terms and in compliance in all material respects with
    ERISA, the Code and other applicable Laws (including with respect to reporting
  and disclosure); and

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(vii)     to the extent that such
Employee Plan is subject to the requirements of COBRA or the Health Insurance
Portability and Accountability Act of 1996, as amended, and any rules or regulations
promulgated thereunder (“HIPAA”), has been maintained in compliance in all material respects with COBRA and
HIPAA, including all notice requirements, in all material respects.

4.17     Employees.  Set forth on Schedule 4.17 is
    a complete and accurate list of the names, date of hire, annual wages, and
    job descriptions of all present employees and independent contractors (specifying
    whether each such individual is an employee or an independent contractor)
    of each Company who are in active employment on the date hereof. An employee
    shall be considered “in active employment” if he or she performs
services or is on vacation or authorized leave on the date hereof.

4.18      Insurance. Schedule
      4.18 contains a true, correct and complete
      list of all policies of liability,  theft, fidelity, business interruption,
      life, fire, errors and omissions, workers compensation, health and other
      material forms of insurance held by each Company (specifying the insurer,
      amount of coverage, type of insurance, policy number, scope  (including
      an indication of whether the coverage was on claims made, occurrence or
      some other basis (and if on a claims made basis, a description of any retroactive
      premium adjustments), and any material pending claims thereunder.

4.19     Certain
      Payments.
    None of the Companies, the Interestholders, any officer, any director, any
    manager, or, to the knowledge of the Interestholders, any employee,  agent
    or other Person acting on behalf of any Company has, directly or indirectly,
    given or agreed to give any money, gift, contribution, bribe, rebate, payoff,
    influence payment, kickback or similar benefit, to any customer, supplier,
    employee or agent of a customer or supplier, or official or employee of

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any Governmental Entity or other
Person who was, is, or may be in a position to help or hinder the business or
any Company (or assist in connection with any actual or proposed transaction)
that (i) could subject any Company to any damage or penalty in any Proceeding,
(ii) if not given in the past, would have resulted in a Material Adverse Effect,
or (iii) if not continued in the future, could reasonably be expected to result
in a Material Adverse Effect. There is not now, and there has never been, any
employment by any Company of, or beneficial ownership in any Company by, any
official of any Governmental Entity in any jurisdiction in which any Company
has conducted or proposes to conduct business. 

4.20     Information; Accredited
Investor. Each Seller has received the SEC Reports (as defined in Section 5.04 below) and has had an opportunity to speak to and ask
questions of the officers of Rodman concerning Rodman, its financial condition, its business and prospects which such Seller deems to be adequate in order for such Seller to have executed this Agreement. Each Seller is an “accredited
investor” as such term is defined in rule 501 promulgated under the Act.

4.21     Investment
      Intent.  Any Consideration Shares which may be acquired by any Seller pursuant to this Agreement are being acquired by such Seller solely for the
purpose of investment and not with a view to, or for sale in connection with, any distribution thereof. Each Seller acknowledges that any of the Consideration Shares have not and will not be registered under the Act, or the securities laws of any
state or other jurisdiction, and that all the Consideration Shares shall bear a legend in substantially the following form: 

“THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, (THE “SECURITIES
ACT”) AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS
A REGISTRATION STATEMENT WITH RESPECT TO THESE SHARES HAS BECOME

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EFFECTIVE
    UNDER THE SECURITIES ACT, OR THE CORPORATION HAS BEEN FURNISHED WITH AN OPINION
OF COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.”

4.22     Tax
      Matters.
    No Seller is a “foreign person” within the meaning of Section 1445(f)
    of the Code or the U.S. Treasury regulations promulgated thereunder.

4.23     Finder.
    There is no firm, corporation, agency or other person or entity that is entitled
    to a finder’s fee or any type of brokerage commission in relation
to or in connection with the transactions contemplated by this Agreement as a
    result of any agreement or understanding with the Company or any of their
directors, officers or employees or their respective affiliates.

ARTICLE V 

REPRESENTATIONS AND WARRANTIES OF RODMAN AND RRLLC

 Rodman and RRLLC hereby jointly and severally represent and warrant to the Sellers and the Interestholders as
  follows:

5.01     Organization
      and Good Standing. Rodman and RRLLC are corporations duly organized, validly existing and in good standing under the laws of the State of Delaware with full
  corporate power and authority to conduct their respective businesses as they are now being conducted and to own or lease and operate the assets and properties respectively owned or leased and operated by them.

5.02     Authority
  and Compliance. Each of Rodman and RRLLC
      has full corporate power and authority to execute and deliver this Agreement.
      The consummation and performance  by Rodman and RRLLC of the transactions
      contemplated by this Agreement have been duly and validly authorized by
      all necessary corporate and other proceedings. This Agreement has been
      duly and validly executed and delivered on behalf of Rodman and  RRLLC
      and constitutes a valid obligation of each of Rodman and RRLLC, enforceable
      in accordance with its terms, except to

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the extent that such enforceability may be limited by applicable
insolvency, bankruptcy, reorganization or similar laws affecting the enforcement
of creditors’ rights generally and by general equity principles. 

5.03     Authorizations and Consents.  Except for filings and/or approvals under applicable securities laws, no consent, authorization or approval of, exemption by, or
filing with, any Governmental Entity is required to be obtained or made by Rodman or RRLLC in connection with the execution, delivery and performance of this Agreement or the consummation of the transactions contemplated hereby.

5.04     No
      Conflict. The performance of this Agreement and the consummation of the transactions herein contemplated will not result in a breach or violation of any of the
terms or provisions of, or constitute a default under, (i) any contract or other agreement or instrument to which Rodman or RRLLC is a party or by which Rodman or RRLLC is bound, (ii) the Articles of Incorporation or By-Laws of Rodman or RRLLC, or
(iii) any law, order, rule, regulation, writ, injunction or decree applicable to Rodman or RRLLC.

5.05     SEC
      Reports.
    Rodman has filed all reports required to be filed by it under the Exchange
    Act for the one year preceding the date hereof (the foregoing being collectively
    referred to herein as the “SEC Reports”)
    on a timely basis. As of their respective dates, the SEC Reports complied
    in all material respects with the requirements of the Exchange Act and the
    rules and regulations of the Securities and Exchange Commission promulgated
    thereunder, and none of the SEC Reports, when filed, contained any untrue
    statement of a material fact or omitted to state a material fact required
    to be stated therein or necessary in order to make the statements therein,
in light of the circumstances under which they were made, not misleading.

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5.06     Material Adverse Changes.  Since the date of the latest financial statements included within the SEC Reports, there has been no event, occurrence or development
that has had a material adverse effect on the assets, business or financial condition of Rodman and its subsidiaries, taken as a whole.

5.07     Legal
      Proceedings, Etc. Except as may be disclosed in the SEC Reports, there are no claims, actions, suits, proceedings, arbitrations or investigations, either
administrative or judicial, pending or, to the actual knowledge of the Rodman, threatened by, or against Rodman or its subsidiaries, or affecting its business or any of its assets or properties, or specifically relating to the transactions
contemplated by this Agreement, at law or in equity or otherwise, before or by any Governmental Entity which could have a material adverse effect on the assets, business or financial condition of Rodman and its subsidiaries, taken as a whole.

5.08     Finder.
    There is no firm, corporation, agency or other person or entity that is entitled
    to a finder’s fee or any type of brokerage commission in relation
to or in connection with the transactions contemplated by this Agreement as a
    result of any agreement or understanding with Rodman or RRLLC or any of their
directors, officers or employees or their respective affiliates. 

ARTICLE VI 

COVENANTS  

6.01     Conduct of Business Until
Closing Date.  The Interestholders jointly and severally hereby covenant and agree with RRLLC and Rodman that from and after the date
hereof until the Closing Date, they will, except as set forth on Schedule 6.01, cause each Company to: 

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(a)     operate its business only in the usual, regular and ordinary manner and, to the extent consistent with such operation, to (i) preserve its
present business organizations intact, (ii) use its reasonable efforts to keep available the services of its present officers and significant employees, and (iii) use its reasonable efforts to preserve the present business relationships with
customers, suppliers, and others having business dealings with them;

 (b)     maintain for such Company the ownership of and/or the right to use its Company Rights and maintain in full force and
  effect insurance with responsible companies comparable in amount, scope and coverage to that in effect on the date of this Agreement;

 (c)     maintain its books, records and accounts in the usual,
  regular and ordinary manner on a basis consistent with prior periods;

 (d)     duly comply in all material respects with all laws known to be applicable to the Company and material to the conduct
  of its business; and

 (e)     perform all of its material obligations without default unless being contested in good faith. 

6.02     Access.  The Interestholders shall cause each Company to afford Rodman and RRLLC and their representatives free and full access during regular business hours, and
in a manner so as not to interfere with the normal business operations of the Sellers, to all of the books, records, contracts, documents, key personnel and properties of each Company.  The Interestholders will cause each Company to use its
commercially reasonable efforts to cause the key employees, accountants, attorneys and other representatives of such Company to cooperate fully with Rodman and RRLLC and to respond fully to any and all inquiries relating to the business, properties
and financial condition of such Company, as Rodman or RRLLC shall reasonably request. 

- 35 -

6.03     Employment Agreements.  At the Closing: (a) Smith shall enter into an employment agreement with RRLLC in substantially the form annexed hereto as Exhibit B-1 (the “Smith Employment Agreement”); (b) Weidner shall enter into an employment agreement with the RRLLC in substantially the
form annexed hereto as Exhibit B-2 (the “Weidner Employment Agreement”); (c) McKay shall enter into an employment
agreement with the RRLLC in substantially the form annexed hereto as Exhibit B-3 (the “McKay Employment Agreement”); and
(d) Kessey shall enter into an employment agreement with the RRLLC in substantially the form annexed hereto as Exhibit B-4 (the “Kessey Employment
Agreement”), (collectively the “Employment Agreements”).

6.04     Covenant
      Not to Compete.
    Each Interestholder acknowledges that, as of the date hereof: (a) the Companies
    are engaged in the business of providing financing and advisory services
    to companies in the energy exploration and production sector (the “Competitive Business”);
    and (b) the agreements and covenants contained in this Section 6.04 are essential
    to protect the business and goodwill of the Companies, which business and
    goodwill are being acquired by RRLLC hereunder in exchange for the Consideration.  Accordingly,
    each Interestholder hereby agrees with Rodman and RRLLC that for a period
    of three (3) years from and after the Closing Date (the “Restricted Period”),
    such Interestholder will not, directly or indirectly, in the Restricted Area
    (as defined below), otherwise than as an employee of or consultant to the
    Rodman Group: (x)
    engage or participate in the Competitive Business; (y) enter the employ of,
    or render any services (whether or not for a fee or other compensation) to,
    any person or entity engaged in the Competitive Business; or (z) acquire
    an equity interest in any person engaged in the Competitive Business; provided
    that if such Interestholder’s employment with the Company is terminated by the Company other than for “Cause” (as
defined in such

- 36 -

Interestholder’s Employment Agreement) or such Interestholder elects to terminate his employment with the Company for “Good Reason” (as defined in the such Interestholder’s Employment Agreement), then the
Restricted Period shall end on the first to occur of (a) the first anniversary of such termination with respect to such Interestholder, or (b) three (3) years from and after the Closing Date.  Notwithstanding the provisions of this Section 6.04,
each Interestholder may own, directly or indirectly, solely as a passive investment, (a) securities in those entities and those amounts as are noted on Schedule 6.04 hereto and (b) not more
than three (3%) percent of the outstanding securities of any company, the stock of which is traded on any national securities exchange or on the National Association of Securities Dealers Automated Quotation System.

The “Restricted Area” shall mean (i) the United States and (ii) any other country outside the United States in which any Company is
conducting or actively soliciting business as of the Closing Date.

Each Interestholder acknowledges that a violation of any of the covenants contained in this Section 6.04 may cause irreparable injury to RRLLC and Rodman and that money damages would not provide an
adequate remedy to RRLLC and Rodman, and therefore, RRLLC and Rodman shall, in addition to, and not in lieu of, any other rights and remedies available to any of them under law or in equity, have the right and remedy to have the covenant set forth
in this Section 6.04 specifically enforced by any court of competent jurisdiction.

In the event the covenants contained in this Section 6.04 are held by any court or other duly constituted judicial authority to be void or otherwise unenforceable in any particular jurisdiction or
with respect to any particular activity or with respect to the period of restraint, then such covenants so affected shall be deemed to have been amended and modified so as to

- 37 -

eliminate therefrom the particular jurisdiction or activity as to which such covenants are so held to be void or otherwise unenforceable or to reduce the period of restraint, and, as so modified and as to all other jurisdictions
and activities covered hereby, the terms and provisions hereof shall remain in full force and effect. 

6.05     Operational Covenants. Rodman and RRLLC hereby agree with each of Smith, Weidner, McKay and Kessey (the “RRLLC
Employees”) that for the period beginning on the Closing Date and ending on the earlier of (a) the third anniversary of the Closing Date or (b) the day on which none of the RRLLC Employees are employed by the
Rodman Group (the “Operational Term”):

 (a)     The
    business formerly operated by the Companies will be operated by RRLLC in
    a manner which will allow Rodman to separately determine the collective revenue
    and expenses of such business (the operation of such business by Rodman is
  herein after called the “Group”).

(b)     The
    Group will have its main offices located in a separate centrally designated
    location at Rodman’s headquarters (currently in New York City) and will initially operate branch offices in
Houston, Texas and Calgary, Alberta at the present location of such offices, and a non-branch office in Simsbury, Connecticut at the present location of such office. The “RRLLC Employee Designee” (as defined below) may establish the
policies and procedures for those offices not in Rodman’s headquarters as long as they are not inconsistent with Rodman’s
and procedures.

(c)     The
    RRLLC Employee Designee shall have authority to supervise directly the operations
    of the Group, which shall be managed in accordance with the Sellers’ traditional
    policies and procedures; provided that all such operations shall, subject
to the requirements of

- 38 -

applicable Law, be in compliance with all of Rodman’s policies and procedures, including without limitation Rodman’s compliance, conflict and employment practices;

(d)     The
    RRLLC Employee Designee shall have authority over the expenditures of the
    Group, which expenditures shall be in accordance with the budget in effect
    for the period during which such expenditure is incurred. The line items
    in the budget for the period from the Closing Date to the First Anniversary
    shall be as set forth on Exhibit C hereto (the “First Budget”).  At least 30 days prior to the First
    Anniversary, the RRLLC Employee Designee, the Chief Executive Officer of Rodman (the “Rodman CEO”), and the Chief Financial Officer of Rodman (the “Rodman CFO”) shall by collective agreement establish a budget for the period beginning on the First Anniversary and ending on the Second Anniversary (the “Second
      Budget”); provided that if on or before the First Anniversary the RRLLC Employee Designee on the one hand, and the Rodman CEO and CFO on the other hand, do not agree on such Second Budget, all line items in the
        Second Budget shall be equal to one hundred ten percent (110%) of the amount of such line item in the First Budget.  At least 30 days prior to the Second Anniversary, the RRLLC Employee Designee and the Rodman CEO and Rodman CFO shall by collective
        agreement establish a budget for the period beginning on the Second Anniversary and ending of the third anniversary of the Closing Date (the “Third Budget”); provided that if on or
          before the Second Anniversary the RRLLC Employee Designee on the one hand, and the Rodman CEO and the Rodman CFO on the other hand, do not agree on such Third Budget, all line items in the Third Budget shall be equal to one hundred ten percent
          (110%) of the amount of such line item in the Second Budget.  Notwithstanding anything contained elsewhere in this Agreement, during the Operational Term, the RRLLC Employee Designee shall have the authority and right to spend money up to the
          maximum of any expense line items shown on the

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First Budget, Second Budget, or Third Budget, as the case
may be, and Rodman and/or its 
affiliates shall supply the Group with such funds in a timely
manner for those purposes. 

 (e)     Rodman shall establish an
annual “Bonus Pool” (to be determined as provided on Schedule
6.05 hereto) for employees of the Group, a portion of which will be paid to each RRLLC Employee as is provided in such RRLLC Employee’s Employment Agreement. The RRLLC Employee Designee shall have the sole right to
distribute the portion of the Bonus Pool not so allocated to the RRLLC Employees to such RRLLC Employees or such other employees of the Group.

(f)      For
    purposes of this Agreement, Smith shall be the RRLLC Employee Designee for
    so long as he is employed by the Rodman Group; and if Smith is no longer
    employed by the Rodman Group then thereafter Weidner shall be the RRLLC Employee
    Designee for so long as he is employed by the Rodman Group; and if both Smith
    and Weidner are no longer employed by the Rodman Group then thereafter Kessey
    shall be the RRLLC Employee Designee for so long as he shall be employed
by the Rodman Group.

(g)     Notwithstanding
    anything to the contrary that may be contained herein, but subject in all
    respect to the rights of any RRLLC Employee under his employment agreement
    with RRLLC, the rights of each RRLLC Employee under this Section 6.05 shall
    immediately cease and be of no further force and effect at such time as such
    RRLLC Employee is no longer employed by the Rodman Group; provided that such
    RRLLC Employee shall continue to have rights under Section 6.05 for breaches
    by Rodman or RRLLC of Section 6.05 that occurred prior to such termination
of employment.

6.06     Right
to Use COSCO Name. For a period of thirty-six (36)
months from and after the Closing Date, CCM and CTLP
hereby grants to Rodman and RRLLC a royalty-free

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exclusive right to use the name “COSCO” or any variation thereof in connection with the operation of the Acquired Business. During such period, neither CCM nor CTLP, nor any of their respective affiliates, including but
not limited to any Interestholder, shall use the name “COSCO” in connection with any commercial venture. 

6.07     Endorsement of Checks. The Sellers hereby agrees that any check received by RRLLC on or after the Closing Date as payment on account of any trade account
receivable constituting a part of the Purchased Assets, which check is payable to a Seller, may be endorsed by RRLLC for its own account.

6.08     Publicity.
    No party to this Agreement shall issue a press release or other public announcement
    concerning this Agreement or the transactions contemplated hereby without
    obtaining the prior written consent of the other parties hereto, which consent
    shall not be unreasonably withheld or delayed; provided, however, that this
    Section 6.08 shall not prohibit Rodman from filing any reports or issuing
    any press releases that it is required to file with the Securities and Exchange
    Commission (“SEC”) under the Exchange Act, or pursuant to the rules of any securities exchange on which
Rodman’s Common Stock is then traded, without the consent of the Sellers
and Interestholders.

6.09     Continuation
of Employee Benefits.

(a)     Beginning
on the Closing Date, RRLLC shall provide to the RRLLC Employees
and all other former employees of the Sellers who begin working for the Rodman
Group any retirement plans (qualified and non-qualified), pension, health, dental,
disability, life, accidental death, dismemberment and  hospitalization insurance
and any other benefit plan or program that has been or is hereafter adopted by
RRLLC (or in which RRLLC participates), in each case according to the terms of
such plan or program on terms no less favorable than  made

- 41 -

available to other employees of the same level.  Notwithstanding anything to the contrary contained in the RRLLC’s Employee Manual, the RRLLC Employees and all other former employees of the Sellers who begin working for the
Rodman Group shall not be required to be employed by RRLLC for a period of time (e.g., “one year” or an “introductory period”) before receiving the employee benefits set forth in this Section 6.09 or in the Company Employee
Manual, except if the waiver of any such waiting period is not permitted by the terms of the applicable employee benefit plan or would have a material adverse effect on RRLLC. 

(b)     To the extent permitted under applicable Law, each RRLLC Employee and all other former employees of the Sellers who begin working for the Rodman Group shall be given credit for all their prior
service with the Sellers (or service credited by the Sellers) under all employee benefit plans, program policies and arrangements of the Rodman Group in which they participate or in which they become participants for purposes of eligibility and
vesting (but not for benefit accrual purposes), including without limitation for purposes of determining (i) short-term and long-term disability benefits, (ii) severance benefits, and (iii)
vacation benefits. 

(c)     To the extent of any changes in health, dental, disability, life, accidental death, dismemberment and hospitalization insurance covering RRLLC Employee and all other former employees of the
Sellers who begin working for the Rodman Group after the Closing Date, and to the extent permissible under such plans, RRLLC shall cause such employee benefit plans to (i) waive any preexisting condition limitations to the extent such conditions
were covered under the applicable medical, health or dental plans of the Rodman Group and (ii) waive any waiting period limitation or evidence of insurability requirement which would otherwise be applicable to such RRLLC Employee and all other
former employees of the Sellers who begin working for the

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Rodman Group on or after the Closing Date to the extent such persons had satisfied any similar  limitation or requirement under an analogous Sellers’ plan prior to the Closing Date. 

ARTICLE VII 

CONDITIONS PRECEDENT TO THE OBLIGATIONS OF RODMAN AND RRLLC 

The obligations of Rodman and RRLLC to consummate the transactions contemplated by this Agreement are subject to the satisfaction at the Closing of each of the following conditions; provided, however,
that Rodman and RRLLC may, in their sole discretion, waive any of such conditions and proceed with the transactions contemplated hereby.

7.01     Accuracy of Representations and Warranties.  The representations and warranties of the Sellers and Interestholders contained in this Agreement or any other
agreement or certificate that is executed and delivered by the Sellers or Interestholders to Rodman or RRLLC at the Closing in connection with this Agreement shall be true and correct in all material respects on and as of the Closing Date.

7.02     Performance of Agreements.  The Sellers and the Interestholders shall have performed and complied in all material respects with all covenants, obligations and
agreements to be performed or complied with by them on or before the Closing Date pursuant to this Agreement. 

7.03     Litigation, etc. 

(a)      No claim, action, suit, proceeding, arbitration, or hearing or notice of hearing shall be pending (and no action or investigation by any
governmental authority shall be threatened) which seeks to enjoin or prevent the consummation of the transactions contemplated by this Agreement. 

- 43 -

(b)      No law, regulation or governmental decree shall have been adopted or promulgated after the date hereof, the enforcement of which would
materially adversely affect the assets, properties, financial condition, results of operations, properties, business or prospects of any Company; and no law, regulation or governmental decree shall have been adopted or promulgated after the date
hereof, the enforcement of which would materially adversely affect the ability of Rodman or RRLLC to consummate the transactions contemplated by this Agreement. 

7.04     Employment Agreements.
Each of the Employment Agreements shall have been executed
and delivered by the parties thereto. 

7.05     Approvals; Consents.  All material approvals, consents, waivers, filings, registrations, permits, authorizations or other actions required in connection with the
this Agreement or which may be required to consummate the transactions contemplated hereby including without limitation any consents necessary to transfer any of the Assumed Contracts to RRLLC, shall have been obtained or made. 

7.06     Good Standing Certificates.  Rodman and RRLLC shall have received certificates of the Secretary of State (or other applicable office) in the jurisdictions in
which each Company is organized and in those jurisdictions in which each Company is qualified to do business, dated as of a date not more than ten (10) business days prior to the Closing Date, certifying as to the good standing of such Company in
each such jurisdiction. 

7.07     No Material Adverse Change. Between the date hereof and the Closing Date there shall not have occurred any changes in the properties, assets or businesses of the
Companies which in the aggregate are materially adverse to the Companies taken as a whole. 

- 44 -

7.08     Audited Financial Statements.

(a)     Rodman and RRLLC shall have received (i) the consolidated financial statements of CCM and its subsidiaries, (ii) the financial statements of CTLP, and (iii) the financial statements of PESI, for
the three years ended December 31, 2007, December 31, 2006, and December 31, 2005, which financial statements have been reported on by Marcum & Kliegman, LLP, without qualification as to scope of audit (collectively, the “Audited Financial Statements”) and which financial statements shall be in form satisfactory to meet the rules and regulations of the SEC
including, without limitation, the provisions of Regulation S-X promulgated by the SEC. 

(b)     The Audited Financial Statements shall not differ from the Financial Statements in any respect that would have a material adverse effect on the value of the Acquired Business, taken as a
whole.

7.09     Assumption Agreement. The
Sellers shall have executed and delivered to RRLLC
the Assumption Agreement. 

ARTICLE VIII 

CONDITIONS PRECEDENT TO THE OBLIGATIONS 

OF THE SELLERS AND THE INTERESTHOLDERS 

The obligations of the Sellers and the Interestholders to consummate the transactions contemplated by this Agreement are subject to the satisfaction at the Closing of each of the following conditions;
provided, however, that the Sellers and each Interestholder acting in their sole discretion may waive any of such conditions and proceed with the transactions contemplated hereby. 

 

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8.01     Accuracy
      of Representations and Warranties.
    The representations and warranties of Rodman and
    RRLLC contained in this Agreement or any other agreement or 
certificate that is executed and delivered by Rodman or RRLLC
to the Sellers any Interestholder at the Closing in connection with this Agreement
shall be true and correct in all material respects on and as of the Closing
Date.

8.02     Performance of Agreements.  Rodman and RRLLC shall have performed and complied in all respects with all covenants, obligations and agreements to be performed or
complied with by any of them on or before the Closing Date pursuant to this Agreement.

8.03     Litigation, etc. 

(a)     No claim, action, suit, proceeding, arbitration or hearing or notice of hearing shall be pending (and no action or-investigation by any governmental authority shall be threatened) which seeks to
enjoin or prevent the consummation of the transactions contemplated by this Agreement. 

(b)     No law, regulation or governmental decree shall have been adopted or promulgated after the date hereof, the enforcement of which would materially adversely affect the assets, properties, financial
condition, results of operations, properties, business or prospects of Rodman; and no law, regulation or governmental decree shall have been adopted or promulgated after the date hereof, the enforcement of which would materially adversely affect the
ability of any Seller or Interestholder to consummate the transactions contemplated by this Agreement. 

8.04     Employment Agreements.
The Employment Agreement to which such Interestholder
is a party shall have been executed and delivered by the parties thereto. 

  - 46 -

8.05     Approvals;
      Consents. All material approvals, consents,
      waivers, filings, registrations, permits, authorizations or other actions
      required in connection with this Agreement or which may be required to
      consummate the transactions contemplated hereby including 
without limitation any consents necessary to transfer any
of the Assumed Contracts to RRLLC, shall have been obtained or made. 

8.06     Assumption Agreement. RRLLC
shall have executed and delivered to the Sellers the
Assumption Agreement. 

8.07     No Material Adverse Change. Between the date hereof and the Closing Date there shall not have occurred any changes in the properties, assets or businesses of
Rodman or RRLLC which in the aggregate are materially adverse to the Rodman Group taken as a whole. 

ARTICLE IX 

INDEMNIFICATION 

9.01     Indemnification by the Interestholders and the Sellers.

(a)     Each Interestholder hereby severally covenants and agrees with Rodman and RRLLC that such Interestholder shall reimburse and indemnify Rodman and RRLLC and their respective affiliates, successors
and assigns (individually an “Indemnified Party”) and hold them harmless from, against and in respect of an amount equal to (1) any and all Losses incurred by any of them due to,
arising out of, or in connection with, (i) a breach of any of the representations, warranties, covenants or agreements made by the Sellers and the Interestholders in Article IV and Sections 6.01 and 6.06 of this Agreement and (ii) the failure of any
Seller to discharge any Excluded Liability multiplied by (2) such Interestholders applicable percentage interest, as set forth on Exhibit D annexed hereto.  Notwithstanding the fact that the
lead-in language to Article IV herein states that “the Sellers and the Interestholders jointly and severally”

- 47 -

 make the representations in that Article IV, the Interestholders
will only be severally liable for breaches of such representations as limited
in this Section 9.01(a) . 

(b)     The Sellers hereby jointly and severally covenant and agree with Rodman and RRLLC that the Sellers shall reimburse and indemnify Rodman and RRLLC and their respective affiliates, successors and
assigns (individually an “Indemnified Party”) and hold them harmless from, against and in respect of an amount equal to any and all Losses incurred by any of them due to, arising
out of, or in connection with, (i) a breach of any of the representations, warranties, covenants or agreements made by the Sellers and the Interestholders in Article IV and Sections 6.01 and 6.06 of this Agreement and (ii) the failure of any Seller
to discharge any Excluded Liability.

(c)     Each Interestholder severally hereby covenants and agrees with Rodman and RRLLC that he shall reimburse and indemnify Rodman and RRLLC and their respective affiliates, successors and assigns
(individually an “Indemnified Party”) and hold them harmless from, against and in respect of any and all Losses incurred by any of them due to, arising out of, or in connection
with, a breach of any of the representations, warranties, covenants or agreements made by such Interestholder in Article III and Section 6.04 of this Agreement. 

9.02     Indemnification by Rodman and RRLLC. Rodman and RRLLC hereby jointly and severally covenant and agree with (a) the Sellers and their respective affiliates,
successors and assigns, and (b) the Interestholders and their respective successors and assigns, that, in each case, they shall reimburse and indemnify each of them and their respective successors and assigns (also individually an
“Indemnified Party”)
and hold them harmless from, against and in respect of any and all Losses incurred
by any of them due to, arising out of, or in connection with, (x) a breach of
any of the representations, warranties, covenants or agreements made by

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 Rodman or RRLLC in this Agreement and (y) the failure of
RRLLC to discharge any Assumed Liability. 

9.03     Certain Limitations on Remedies. 

(a)     Notwithstanding anything to the contrary set forth in this Agreement (but subject to the proviso set forth in this sentence), (i) neither the Sellers and their respective affiliates, successors
and assigns nor the Interestholders and their respective successors and assigns shall be liable hereunder to Rodman or RRLLC for any Losses incurred by Rodman or RRLLC due to, arising out of, or in connection with, a breach of any of the
representations, warranties, covenants or agreements made by the Sellers and/or the Interestholders in Sections 3.01 thru 3.03, 4.01 thru 4.07, 4.09 thru 4.19, 6.01 thru 6.03, 6.05 and 6.07 (“Limited
Losses”) until the Limited Losses incurred by Rodman or RRLLC shall exceed in the aggregate one hundred thousand dollars ($100,000) (the “Basket Exclusion”), in which event they shall be liable for all such Limited Losses in accordance with the provisions of Section 9.01 herein; and (ii) Rodman and RRLLC and their respective affiliates, successors and assigns shall not be liable
hereunder to the Interestholders for any Losses arising out of, or in connection with a breach of any of the representations, warranties, covenants or agreements made by Rodman or RRLLC in Sections 5.01 thru 5.07 or Section 6.05 until the Losses
incurred by the Interestholders shall exceed in the aggregate the Basket Exclusion, in which event they shall be liable for all such Losses in accordance with Section 9.02 herein.

(b)     The aggregate amount required to be paid by the Sellers and the Interestholders on account of any and all breaches of the representations or warranties contained in Sections 4.01 thru 4.07 and
Sections 4.09 thru Section 4.19 (the “Interestholder Covered Sections”),
including any Third Party Claims related to such Interestholder Covered Sections,

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 shall not exceed six million
five hundred fifty thousand dollars ($6,550,000) (the “Cap”);
and the aggregate amount required to be paid by Rodman and RRLLC on account of
a breach of any of the representations or warranties
contained in Article V (the “Rodman Covered Sections”),
including any Third Party Claims related to such Rodman Covered Sections, shall
not exceed the Cap.

(c)     The sole remedy for a breach of any of the representations and warranties of any of the Interestholder Covered Sections, including any Third Party Claims related to such Interestholder Covered
Sections, or the Rodman Covered Sections, including any Third Party Claims related to such Rodman Covered Sections, shall be as set forth in this Article IX, except for any claims based upon fraud or intentional misconduct. 

9.04     Indemnification Procedures. 

(a)     A claim for indemnification for any matter not involving a Third Party Claim (as defined below) may be asserted by written notice to the party from whom indemnification is sought stating in
reasonable detail the nature of the claim and the amount claimed or demanded therewith within ten (10) business days after first having actual knowledge of the matter; provided that no failure to provide such written notice shall excuse the
indemnifying party from any of its obligations under this Article IX, except to the extent that the indemnifying party can demonstrate actual loss and prejudice as a result of such failure. Any dispute with respect to such claim shall be resolved in
accordance with Section 10.10 below. 

(b)     In the event that any proceedings shall be instituted or that any claim or demand shall be asserted by any third party in respect of which indemnification may be sought under this Article IX
(regardless of the limitations set forth herein) (each, a “Third Party Claim”),
the Indemnified Party shall promptly cause written notice of the assertion of
any Third Party 

- 50 -

Claim of which it has knowledge which is covered by such indemnity
to be forwarded to the indemnifying party. The failure of the Indemnified Party
to give reasonably prompt notice of any Third Party Claim shall not release, waive or otherwise affect the indemnifying party’s obligations with respect thereto, except to the extent that the indemnifying party can demonstrate actual loss and prejudice as a
result of such failure. The indemnifying party shall have the right, at its sole expense and with counsel of its choice, to defend against, negotiate, settle or otherwise deal with any Third Party Claim which relates to any Losses indemnified
against hereunder, including but not limited to asserting claims and affirmative defenses and impleading or pursuing claims against other Persons who may have been responsible for all or part of the Losses associated with such Third Party Claim,
provided that no settlement shall be effected by the indemnifying party without the consent of the Indemnified Party, which consent shall not be unreasonably withheld, unless it solely involves the payment of money by the indemnifying party and
contains a complete release of the Indemnified Party with respect to such Third Party Claim.  If the indemnifying party makes any payment on any Third Party Claim, the indemnifying party shall be subrogated, to the extent of such payment, to all
rights and remedies of the Indemnified Party to any insurance benefits or other claims of the Indemnified Party with respect to such Third Party Claim. 

9.05     Claims Period.  The period during which any claims for indemnification hereunder may be initiated by Indemnified Parties by providing written notice to the
indemnifying parties, in accordance with Sections 9.04 and 10.03 hereof, shall commence on the Closing Date and terminate at the first anniversary of the Closing Date
(the “Claims Period”);
provided, however, that indemnification claims with respect to the following
representations and warranties shall survive for the period of the applicable
statute of limitations: Section 4.08 

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(Assets); Section 4.11 (Taxes and Tax Returns); Section 4.20
(Information; Accredited Investor); Section 4.21 (Investment Intent); Section
4.22 (Tax Matters); Section 4.23 (Finder); and Section 5.08 (Finder).  If Indemnified
Parties have submitted any claim for indemnification, in accordance with Sections
9.04 and 10.03 hereof, to the indemnifying parties within the Claims Period with
respect to the facts and  circumstances existing prior to the expiration of the
Claims Period, but such claim has not been resolved by the parties prior to the
expiration of the Claims Period, then, in such event, such claim shall survive
until finally resolved as provided  herein. 

ARTICLE X 

GENERAL PROVISIONS 

10.01     Survival of Representations, Warranties, Covenants, and Agreements. The representations and warranties contained in Sections 3.01 thru 3.03, 4.01 thru 4.07 and
4.09 thru 4.19 and 5.01 thru 5.07 of this Agreement shall survive the execution of this Agreement and the closing of the transactions contemplated by this Agreement until the First Anniversary; provided, however, that the following representations
and warranties shall survive for the period of the applicable statute of limitations with respect thereto: Section 4.08 (Assets); Section 4.11 (Taxes and Tax Returns); Section 4.20 (Information; Accredited Investor); Section 4.21 (Investment
Intent); Section 4.22 (Tax Matters); Section 4.23 (Finder); and Section 5.08 (Finder); and provided further that any claims with respect to any such representations and warranties must be made as prescribed in Article IX. All covenants and
agreements contained in this Agreement shall survive for the period of the applicable statute of limitations with respect thereto. 

10.02     Expenses.
Whether or not the transactions contemplated by this Agreement are consummated,
all costs and expenses incurred by Rodman and RRLLC in connection with this Agreement
and the transactions contemplated hereby (including all legal fees) shall be
paid by 

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Rodman and all costs and expenses incurred by the Sellers
and the Interestholders in connection with this Agreement and the transactions
contemplated hereby (including all legal fees) shall be paid by the Sellers and
the Interestholders; provided, however, that Rodman shall pay all costs and
expenses associated with the Audited Financial Statements, as required by Section
7.08 above.

10.03     Notices.
All notices, requests, demands and other communications which are required
to be or may be given under this Agreement shall be in writing and shall be deemed
to have been duly given when (a) delivered in person, (b) the day following dispatch
by an overnight courier service (such as Federal  Express or UPS, etc.), or (c)
five (5) days after dispatch by certified or registered first class mail, postage
prepaid, return receipt requested, to the party to
whom the same is so given or made:

	
                   If to Rodman or RRLLC addressed to:   	   	
Rodman & Renshaw Capital Group, Inc.   
	   	   	
1270 Avenue of the Americas   
	   	   	
New York, NY 10022   
	   	   	
Attn: Chief Executive Officer   
	   
	
                   with a copy to:   	   	
Morse, Zelnick, Rose & Lander, LLP   
	   	   	
405 Park Avenue   
	   	   	
New York, New York 10022   
	   	   	
Attn: Kenneth S. Rose, Esq.   
	   
	   
	
                   If to PESI addressed to:   	   	
Private Energy Securities, Inc.   
	   	   	
14 Station Street, 2nd Floor   
	   	   	
Simsbury, CT 06070   
	   	   	
Attn: William E. Weidner   
	   
	
                   If to CTLP or CCM   	   	   
	
                   addressed to:   	   	
COSCO Capital Texas LP   
	   	   	
COSCO Capital Management LLC   
	   	   	
1001 Fannin, Suite 550   
	   	   	
Houston, TX 77002   
	   	   	
Attn: T. Prescott Kessey   
	   

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	                   If to the Interestholder  	 	 
	                   addressed to:  	 	Interestholder Representative  
	 	 	2210 Dorrington, #205  
	 	 	Houston, TX 77030  
	 	 	 
	
                    If to Smith addressed to:   	   	
Cameron O. Smith   
	   	   	
67 Park Ave., Suite 530   
	   	   	
New York, NY 10016   
	   
	
                    If to Weidner addressed to:   	   	
William E. Weidner   
	   	   	
12 Country Club Dr.   
	   	   	
West Simsbury, CT 06092   
	   
	   
	
                    If to Kessey addressed to:   	   	
T. Prescott Kessey   
	   	   	
2210 Dorrington, #205   
	   	   	
Houston, TX 77030   
	   
	
                    If to McKay addressed to:   	   	
Lane McKay   
	   	   	
10519 Willow Green Dr. SE   
	   	   	
Calgary, AB T2J 1P5   
	   
	
In each case with a copy to:   	   	
Jones Waldo Holbrook & McDonough PC   
	   	   	
170 South Main Street, Suite 1500   
	   	   	
Salt Lake City, Utah 84101   
	   	   	
Attn: Ronald S. Poelman, Esq.   

or such other address as any of the parties shall hereafter
notify the other parties in writing in the manner required
by this Section 10.03. 

10.04     Assignability and Amendments. This Agreement and the rights and obligations created hereunder, shall not be assignable by any of the parties, except that each of
the Sellers may freely assign its rights and/or obligations to its Interestholders in connection with such Seller’s liquidation and dissolution.  This Agreement cannot be altered or otherwise amended except pursuant to an instrument in writing
signed by each of the parties. This Agreement shall be binding upon and inure to the benefit of the parties, their successors, legal representatives and assigns. 

 

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10.05     Entire Agreement.
This Agreement and the Exhibits and Schedules which are a part hereof and the
other writings and agreements specifically identified herein contain the entire
agreement between the parties with respect to the transactions contemplated herein
and supersede all previous written or oral negotiations,
commitments and understandings with
respect thereto. 

10.06     Waivers, Remedies.  Any condition to the performance of any party hereto which legally may be waived on or prior to the Closing Date may be waived by the party
entitled to the benefit thereof.  Any waiver must be in writing and signed by the party to be bound thereby.  A waiver of any of the terms or conditions of this Agreement shall not in any way affect, limit or waive a party’s rights under any
other term or condition of this Agreement. All remedies under this Agreement shall be cumulative and not alternative. 

10.07     Counterparts and Headings. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall
constitute one and the same instrument. All headings (including, without limitation, Article headings and Section titles) are inserted for convenience of reference only and shall not affect its meaning or interpretation. 

10.08     Severability. If and to the extent that any court of competent jurisdiction holds any provision (or any part thereof) of this Agreement to be invalid or
unenforceable, such holding shall in no way affect the validity of the remainder of this Agreement. 

10.09     Governing Law; Jurisdiction.
    This Agreement shall be governed by and construed in accordance with the
    Laws of the State of New York without regard to conflict of law provisions.
    With respect to any claim or action arising under this Agreement each party
    hereby (a) irrevocably submits to the exclusive jurisdiction of the Courts
    of the State of New York and the United States District Court located in
the Borough of Manhattan in New York 

- 55 -

City, and (b) irrevocably waives any objection which such
party may have at any time to the laying of venue of any suit, action or proceeding
arising out of or relating to this Agreement brought in any such court, irrevocably
waives any claim that any such suit, action or proceeding brought in any such
court has been brought in an inconvenient forum and further irrevocably waives
the right to object, with respect  to such claim, suit, action or proceeding
brought in any such court, that such court does not have jurisdiction over such
party. Nothing in this Agreement will be deemed to preclude Rodman or RRLLC from
bringing an action or proceeding in respect  hereof in any other jurisdiction. 

10.10     Dispute Resolution and Arbitration. 

(a)     Each and every controversy or claim arising out of or relating to this Agreement and/or any document executed or delivered in connection herewith shall first be addressed through good faith
discussions between the parties to resolve such dispute. 

(b)     In
    the event that any controversy or claim arising out of or relating to this
    Agreement and/or any document executed or delivered in connection herewith
    cannot be resolved between the parties within thirty (30) days of written
    notice thereof despite their good faith efforts pursuant to (a) above, unless
    otherwise provided herein, such controversy or claim shall be settled by
    arbitration in accordance with the commercial rules of the American Arbitration
    Association, in New York, New York, and judgment upon the award rendered
    in such arbitration shall be final and binding upon the parties and may be
    entered in any court having jurisdiction thereof. Notice of the demand for
    arbitration shall be filed in writing with the other party to this Agreement
    and shall set forth the claims to be submitted to arbitration. Notwithstanding
    the foregoing, this agreement to arbitrate shall not bar any party from seeking
    injunctive relief or other temporary relief in any court of competent jurisdiction
and such relief 

- 56 -

may be sought prior to any good faith discussions between
the parties to attempt to resolve such dispute. This agreement to arbitrate may
be specifically enforced by a court of competent jurisdiction under the applicable Laws of the State of New York pertaining to arbitrations. The rules of the American Arbitration Association concerning commercial disputes shall be applicable to any such arbitration proceeding
except as they may be modified by the terms of this Agreement. 

(c)     The arbitrators in any arbitration under this Agreement shall have the authority and jurisdiction to enter any preliminary award that would aid and assist the conduct of the arbitration or
preserve the parties' rights with respect to the arbitration as the arbitrators shall deem appropriate in their discretion.  The award of such arbitrators shall be in writing and it shall specify in detail the issues submitted to arbitration and the
award of the arbitrators with respect to each of the issues so submitted. The parties hereby agree that any such arbitration award shall be final and binding on all parties hereto and shall be enforceable by any court of competent jurisdiction.

(d)     Counsel to the parties in connection with the negotiation of and consummation of the transactions under this Agreement shall be entitled to represent their respective party in any and all
Proceedings under this Section or in any other Proceeding under this Agreement.  The parties hereto waive the right and agree that they shall not seek to disqualify any such counsel in such Proceedings for any reason, including but not limited to
the fact that such counsel or any member thereof may be a witness in any such Proceedings or possess or have learned of information of a confidential or financial nature regarding the party whose interests are adverse to the party who is represented
by such counsel in any such Proceedings. 

 

- 57 -

  10.11     Construction. The
parties have participated jointly in the negotiation and drafting
of this Agreement. In the event an ambiguity or question of intent or interpretation arises,
    this Agreement shall be construed as if it was drafted jointly by the parties
    and no presumption of burden of proof shall arise favoring or disfavoring
    any party by virtue of the authorship of any of the provisions of this  Agreement. 

10.12     No Third Party Beneficiaries. Nothing in this Agreement shall be deemed to confer rights on any Person or to indicate that this Agreement has been entered into
for the benefit of any Person other than the parties hereto. 

10.13     Further Assurances. At any time after the Closing Date, each party shall upon request of another party, execute, acknowledge and deliver all such further and
other assurances and documents, and will take such action consistent with the terms of this Agreement, as may be reasonably requested to carry out the transactions contemplated herein and to permit each party to enjoy its rights and benefits
hereunder.

10.14     Interestholder Representative.  Each Interestholder and each Seller hereby designates T. Prescott Kessey (hereafter the “Interestholder Representative”) (i) to receive, together with the Interestholders, all communications, and make all determinations on behalf of the Interestholders and Sellers pursuant to Sections
2.01(b), 2.03 and 2.09, and (ii) to receive, together with all Interestholders, notice of, dispute, and settle any claims for indemnification involving Limited Losses on behalf of the Interestholders and Sellers; and each such Interestholder and
Seller agrees to be bound by any such determinations, agreements or settlements made by the Interestholder Representative with respect thereto. In the event that T. Prescott Kessey is unable, or unwilling, to serve as the Interestholder
Representative, William E. Weidner is hereby designated to serve as the alternate Interestholder Representative. 

 

- 58 -

10.15     Section 2.04 Disputes. Each
Interestholder and each Seller hereby designates the RRLLC
Employee Designee to receive, together with all Interestholders, all communications, and
make all determinations on behalf of the Interestholders and Sellers pursuant
to Section 2.04; and each such Interestholder and Seller agrees to be bound by
any such determinations, agreements or settlements made by the RRLLC  Employee
Designee with respect thereto. 

[signature page follows] 

- 59 -

IN WITNESS WHEREOF, the parties
hereto have duly executed this Agreement the day and
year first above written.

	
RODMAN & RENSHAW CAPITAL GROUP, INC.   
	 
	
By: /s/ Michael Lacovara  
	Michael Lacovara, Chief Executive Officer  
	 
	
RODMAN & RENSHAW, LLC   
	 
	
By: /s/ Michael Lacovara   
	
Michael Lacovara, Chief Executive Officer  
	 
	
COSCO CAPITAL MANAGEMENT LLC   
	 
	
By: /s/ Cameron O. Smith
	
      Cameron O. Smith, Senior Managing Director   
	 
	
PRIVATE ENERGY SECURITIES, INC.   
	 
	
By: /s/ William W. Weidner
	
      William W. Weidner,
 President   
	 
	
COSCO CAPITAL TEXAS LP   
	 
	
By: COSCO CAPITAL MANAGEMENT LLC   
	
Its: Sole General Partner   
	 
	
By: /s/ Cameron O. Smith
	
      Cameron O. Smith, Senior
 Managing Director   
	   
	
THE INTERESTHOLDERS:   
	   
	/s/
      Cameron O. Smith
	
Cameron O. Smith   
	   
	/s/ William
      W. Weidner
	 William W. Weidner   
	   
	/s/
      Lane W. McKay
	
  Lane W. McKay   
	   
	/s/ T.
      Prescott Kessey
	 T. Prescott Kessey
	 

- 60 -

EXHIBIT A

Definitions 

     The following terms used in this Agreement shall have the respective meanings set forth below.

     “Act” means the Securities Act of 1933, as amended. 

     “Code” means the Internal Revenue Code of 1986, as amended, or any successor Law. 

     “Confidential Information” means Intellectual Property Rights of the Company and all information of a proprietary nature relating
to the Company or its business excluding enters the public domain through no wrongful action or inaction on the part of any information that (a) as of the date hereof, is in the public domain; or (b) after the date hereof enters the public domain
through no wrongful action or inaction on the part of any Interestholder. 

     “Contract” means any written or oral contract, Permit, loan or credit agreement, note, bond, mortgage, indenture, lease, sublease,
purchase order or other agreement, instrument, concession, franchise or license. 

     “Employee Benefit Plan” means, with respect to any Person, (a) each plan, fund, program, agreement, arrangement or scheme providing
for employee benefits or for the remuneration, direct or indirect, of the employees, former employees, directors, managers, officers, of such Person or the dependents or beneficiaries of any of them (whether written or oral), including each deferred
compensation, bonus, incentive compensation, pension, retirement, stock purchase, stock option and other equity compensation plan, “welfare” plan (within the meaning of Section 3(1) of ERISA), (b) each “pension” plan (within the
meaning of Section 3(2) of ERISA), (c) each severance plan or agreement, health, vacation, summer hours, supplemental unemployment benefit, hospitalization insurance, medical, dental, legal and (d) each other employee benefit plan, fund, program,
agreement, arrangement or scheme under which such Person has any Liability, whether direct or indirect. Notwithstanding the foregoing the payment of wages and payments made in connection with  legally required benefits such as social security,
unemployment insurance, workers compensation, etc. shall not be deemed to be an “Employee Benefit Plan”

      “ERISA” means the Employment Retirement Income Security Act of
  1974, as amended, or any successor federal Law, and the rules and regulations promulgated thereunder, all as the same may from time to time be in effect. 

     “Exchange Act” means the Securities and Exchange Act of 1934, as amended. 

     “GAAP” means United States generally accepted accounting principles employed in the United States, as the same may be in effect
from time to time. 

     “Governmental Entity” means any national, federal, state, county, local, Canadian, or other foreign court, tribunal, arbitral body,
arbitrator, administrative agency or commission or other governmental or regulatory authority or instrumentality. 

     “Intellectual Property” means all intangible and intellectual property owned by the Company or licensed to the Company including,
without limitation, patents, patent applications, patent rights, trademarks, trademark applications, trade names, fictitious business names (d/b/a’s), service marks, service mark applications, copyrights, copyright applications, URL’s,
domain names, know-how, trade secrets, proprietary processes and formulae, franchises, licenses, customer lists, inventions, instructions, marketing materials, trade dress, logos and designs and all documentation and media constituting, describing
or relating to the foregoing, including, without limitation, manuals, memoranda and records. 

     “Intellectual Property Rights” means all rights in Intellectual Property.

     “IRS” means the
Internal Revenue Service of the United States. 

     “Law” means any law (both common and statutory law and civil and criminal law), treaty, convention, rule, directive, legislation,
ordinance, regulatory code (including, without limitation, statutory instruments, guidance notes, circulars, directives, decisions, rules and regulations) or similar provision having the force of law or an order of any Governmental Entity or any
self regulatory organization. 

     “Liability” means any actual or potential liability or obligation (including as related to Taxes), whether known or unknown,
asserted or unasserted, absolute or contingent, accrued or unaccrued, liquidated or unliquidated and whether due or to become due, regardless of when asserted. 

     “Losses” means any and all losses (including a diminution in value of assets or equity interests), claims, shortages, damages,
Liabilities and expenses (including reasonable attorneys’ and accountants’ and other professionals’ fees and litigation expenses and the costs of enforcement of any and all indemnification claims under Article IX), arising from or in connection with any such matter that is the subject of indemnification under Article IX, whether or not
foreseeable. 

     “Material Adverse Effect” means a material adverse effect on the assets, business or financial condition of the Companies, taken as
a whole. 

     “Permits” means all permits, licenses, authorizations, filings or registrations, franchises, approvals, certificates (including
certificates of need), exemptions, variances and similar rights obtained, or required to be obtained, from Governmental Entities. 

     “Person” shall be construed as broadly as possible and shall include an individual or natural person, a partnership (including a
limited liability partnership), a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization or a Governmental Entity. 

 

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     “Proceedings” means
actions, suits, claims, reviews, and investigations and legal, administrative
or arbitration proceedings. 

     “Tax” or “Taxes” means, with respect to any entity, any Liability for (a) all income taxes (including any tax on or based
upon net income, gross income, income as specially defined, earnings, profits or selected items of income, earnings or profits) and all gross receipts, sales, use, ad valorem, transfer, franchise, license, withholding, payroll, employment, excise,
severance, stamp, occupation, premium, property or windfall profits taxes, alternative or add-on minimum taxes, customs duties and other taxes, fees, assessments or charges of any kind whatsoever, together with all interest and penalties, additions
to tax and other additional amounts imposed by any Governmental Entity (domestic or foreign) on such entity (if any); and (b) any obligation to indemnify or otherwise assume or succeed to the Tax Liability of any other Person. 

     “Tax Returns” means federal, state, local and foreign returns, reports, statements, claim for refund, or information return or
statement relating to Taxes, including any schedule or attachment thereto, including any amendment thereof. 

     “Working Capital” means the total cash and cash equivalents included in the Purchased Assets minus the Assumed
Liabilities.

- 3 -

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