Document:

Exhibit 10.8

                        AMENDMENT AND DEFERRAL AGREEMENT

        This  Amendment  and Deferral  Agreement  (the  "AMENDMENT  AND DEFERRAL
AGREEMENT") is entered into by and between  INCENTRA  SOLUTIONS,  INC., a Nevada
corporation  (the  "BORROWER"),  and Laurus Master Fund,  Ltd., a Cayman Islands
company ("LAURUS"), and is effective as of February 6, 2006.

        WHEREAS, the Borrower issued an Amended and Restated Secured Convertible
Term Note to Laurus on May 13, 2004 in the aggregate  original  principal amount
of $5,000,000 (as amended,  modified or  supplemented,  the "NOTE"),  payable in
full on May 13, 2007 (the "MATURITY DATE");

        WHEREAS,  pursuant to Section 1.2 of the Note, the Borrower is obligated
to repay to Laurus  $158,749.11 of the principal amount (the "MONTHLY  PRINCIPAL
AMOUNT") of the Note,  together  with  interest  accrued  thereon,  on the first
business day of each consecutive  calendar month (prior to giving effect to this
Amendment);

        WHEREAS,  the  Borrower  wishes  to defer  the  payment  of the  Monthly
Principal  Amount  due and  payable  under the Note for the  months of  January,
February,  March,  April,  May and June 2006 until the Maturity Date, and Laurus
wishes to allow the  Borrower  to defer  payment of all such  Monthly  Principal
Amounts and to allocate  and include  such  Monthly  Principal  Amounts with the
final  payment due with  respect to the Note on the  Maturity  Date,  as is more
fully described in Section 1 below;

        NOW,  THEREFORE,  in  consideration  of the  mutual  promises  set forth
herein,  and  for  other  good  and  valuable  consideration,  the  receipt  and
sufficiency  of which are  hereby  acknowledged,  the  parties  hereby  agree as
follows:

        1.      DEFERRAL OF CERTAIN  PRINCIPAL  PAYMENTS.  Laurus  hereby agrees
that the Monthly Principal Amount for each of January,  February,  March, April,
May and June 2006 due from the  Borrower to Laurus  under the Note,  equal to an
aggregate  of  $952,494.66  (collectively,  the  "DEFERRED  AMOUNT"),  is hereby
deferred  until the Maturity  Date,  at which time the Deferred  Amount shall be
paid in full along with the final payment due on such date pursuant to the Note.
Notwithstanding the foregoing, the Borrower shall remain obligated to pay all of
the Monthly Interest Amount (as defined in the Note) when due.

2. LAURUS  REPRESENTATIONS.  This Amendment is made with Laurus in reliance upon
Laurus'  representation  to the  Borrower,  which by Laurus'  execution  of this
Amendment,  Laurus hereby confirms, that its investment decision with respect to
the Note and the  transactions  relating  thereto  has been made for Laurus' own
account,  not as a  nominee  or  agent,  and not  with a view to the  resale  or
distribution  of any part thereof,  and that Laurus has no present  intention of
selling,  granting any  participation  in, or otherwise  distributing any of the
same. By executing this  Amendment,  Laurus further  represents that Laurus does
not presently have any contract, undertaking,  agreement or arrangement with any
person to sell, transfer or grant  participations to such person or to

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any third person,  with respect to any of the shares of common stock  underlying
the Note.  Laurus has not been formed for the specific purpose of lending to the
Company or acquiring  shares relating  thereto.  Laurus agrees and  acknowledges
that it has had an opportunity to discuss the Borrower's  business,  management,
financial  affairs  and the  terms  and  conditions  of the  Amendment  with the
Borrower's management and/or its duly authorized representatives.  Laurus hereby
confirms,  represents and warrants to the Borrower that Laurus is an "accredited
investor"  as defined  in Rule  501(a) of  Regulation  D  promulgated  under the
Securities  Act and has  knowledge  and  experience  in  financial  and business
matters  such that it is  capable  of  evaluating  the  merits  and risks of the
investment to be made hereunder.

        3.      NO OTHER  AMENDMENTS.  Except  as  expressly  set  forth in this
Amendment,  no other term or provision of the Note is hereby amended or affected
in any way,  and the Note shall  remain in full force and effect  after the date
hereof.

        4.      GOVERNING LAW. This Amendment shall be governed by and construed
in  accordance  with  the laws of the  State  of New  York,  without  regard  to
principles of conflicts of laws.

        5.      FACSIMILE  SIGNATURES;   COUNTERPARTS.  This  Amendment  may  be
executed by  facsimile  signatures  and in any number of  counterparts,  each of
which shall be an  original,  but all of which  together  shall  constitute  one
instrument.

       [BALANCE OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGES FOLLOW]

                                       2
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        IN WITNESS WHEREOF, the parties hereto have executed this Amendment as a
sealed instrument as of the date set forth in the first paragraph hereof.

                                        INCENTRA SOLUTIONS, INC.

                                        By: /s/ Thomas P. Sweeney, III
                                            ----------------------------------
                                            Thomas P. Sweeney, III
                                            Chairman and CEO

                                        LAURUS MASTER FUND, LTD.

                                        By: /s/ David Grin
                                            ----------------------------------
                                        Name:  David Grin
                                        Title: Managing Partner

                                       3EXHIBIT 4.1

                      NON-QUALIFIED STOCK OPTION AGREEMENT
                      ------------------------------------

     AGREEMENT  made  as  of  the  1st  day  of  March,  2005,  between  GRIFFON
CORPORATION, a Delaware corporation, (hereinafter called the "Company") and ERIC
EDELSTEIN (hereinafter called "Optionee").

                              W I T N E S S E T H:

     WHEREAS, concurrently herewith the Company and the Optionee intend to enter
into an employment agreement (the "Employment  Agreement") pursuant to which the
Optionee shall be employed as an Executive  Vice  President and Chief  Financial
Officer of the Company; and

     WHEREAS,  in  order  to  induce  Optionee  to  enter  into  the  Employment
Agreement,  the Company has determined that it is advisable to grant to Optionee
an award of certain  options to purchase the Company's  common stock,  par value
$.25 per share (the "Common Stock"); and

     WHEREAS,  the  Optionee  is only  willing  to  enter  into  the  Employment
Agreement if the Company enters into this option agreement.

     NOW,  THEREFORE,  in consideration of the premises and the mutual covenants
hereinafter set forth, the parties hereto agree as follows:

  1. Grant of  Option.  The  Company  hereby  grants  to  Optionee  an option to
     ----------------
     purchase a total of 250,000 shares of the  authorized  and unissued  Common
     Stock of the Company  (the  "Option")  at an  exercise  price of $22.94 per
     share,  which is the closing  price of the Common Stock on the date hereof.
     The within Option is  immediately  vested and is  exercisable in accordance
     with Section 2 hereof.

  2. Exercisability  and Term of Option.  The within  Option may be exercised at
     ----------------------------------
     any time before the Expiration Date in the following amounts:

         As to 50% of the shares of Common Stock, on or after March 1, 2006
         As to 100% of the shares of Common Stock, on or after March 1, 2007

     The rights  represented by this Option are exercisable at the option of the
     holder  hereof in whole at any time,  or in part from time to time,  within
     the periods above specified at the price specified in Section 1 hereof. The
     within  Option may be  exercised  by Optionee at any time prior to February
     28, 2012 (the "Expiration Date");  provided, that in the event of the prior
     termination  or  expiration  of  the  Employment  Agreement  or  Optionee's
     employment  with the Company on or before March 1, 2007,  whether under the
     Employment  Agreement or  otherwise,  the Optionee  shall have until May 1,
     2007 to exercise the within Option; provided, further, that in the event of
     any  termination  or expiration of the  Employment  Agreement or Optionee's
     employment with the Company prior to the Expiration Date but after March 1,
     2007,  whether under the  Employment  Agreement or otherwise,  the Optionee
     shall have a period of sixty (60) days from such  termination or expiration
     to  exercise  the  within  Option,  but in no event  shall  the  Option  be
     exercisable after the Expiration Date.

<PAGE>

  3. Anti-dilution.  The price per share at which  shares of Common Stock may be
     -------------
     purchased  hereunder,  and the number of such shares to be  purchased  upon
     exercise hereof, are subject to change or adjustment as follows:

     (A) In case the Company shall,  while this Option remains  unexercised,  in
     whole or in part, and in force, effect a recapitalization of such character
     that the shares of Common Stock purchasable hereunder shall be changed into
     or become  exchangeable  for a larger or smaller  number of  shares,  then,
     after the date of record for effecting such recapitalization, the number of
     shares of Common  Stock  which  the  holder  hereof  shall be  entitled  to
     purchase hereunder shall be increased or decreased,  as the case may be, in
     direct  proportion  to the  increase or decrease in the number of shares of
     Common Stock by reason of such  recapitalization,  and the  purchase  price
     hereunder per share of such  recapitalized  Common Stock shall, in the case
     of an increase in the number of such shares,  be  proportionately  reduced,
     and in the  case of a  decrease  in the  number  of such  shares,  shall be
     proportionately  increased. For the purpose of this subsection (A), a stock
     dividend,  stock  split  up or  reverse  split  shall  be  considered  as a
     recapitalization  and as an  exchange  for a larger  or  smaller  number of
     shares, as the case may be.

     (B) In the case of any  consolidation of the Company with, or merger of the
     Company into,  any other  Company,  or in case of any sale or conveyance of
     all or substantially  all of the assets of the Company in connection with a
     plan of complete  liquidation of the Company,  then, as a condition of such
     consolidation,  merger or sale or conveyance,  adequate  provision shall be
     made whereby the holder hereof shall  thereafter have the right to purchase
     and receive,  upon the basis and upon the terms and conditions specified in
     this Option and in lieu of shares of Common Stock  immediately  theretofore
     purchasable  and  receivable  upon the  exercise of the rights  represented
     hereby,  such shares of stock or  securities as may be issued in connection
     with such consolidation, merger or sale or conveyance with respect to or in
     exchange for the number of outstanding  shares of Common Stock  immediately
     therefore  purchasable  and  receivable  upon the  exercise  of the  rights
     represented hereby had such consolidation, merger or sale or conveyance not
     taken place, and in any such case appropriate  provision shall be made with
     respect to the rights and interests of the holder of this Option to the end
     that the  provisions  hereof  shall be  applicable  as  nearly as may be in
     relation to any shares of stock or securities  thereafter  deliverable upon
     the exercise hereof.

  4. Non-Transferability  of Option.  The Option  granted  under this  Agreement
     ------------------------------
     shall not be transferable otherwise than by will or the laws of descent and
     distribution  or to the extent  permitted  by the Board of Directors of the
     Company or the Compensation Committee of the Board of Directors.

  5. Purchase for Investment. To the extent that, at the time of exercise of the
     -----------------------
     within  Option,  the  underlying  shares have not been  registered for sale
     under the Securities Act or 1933, as amended, the Optionee  represents,  on
     behalf of himself and any  transferees  permitted by the terms of the Plan,
     that any shares of Common Stock  purchased  pursuant to this Agreement will
     be  acquired  in  good  faith  for   investment   and  not  for  resale  or
     distribution, and Optionee on behalf of himself and said person or persons,
     agrees that each notice of the exercise of the within  Option shall contain
     or be  accompanied  by a  representation  in writing  signed by him or said
     person or persons, as the case may be, in form satisfactory to the Company,
     that the shares of Common Stock to be purchased pursuant to such notice are
     being so acquired and will not be sold except in compliance with applicable
     securities laws.

  6. Covenant of the Company.  The Company  covenants and agrees that all shares
     -----------------------
     may be delivered upon the exercise of this Option and will,  upon delivery,
     be fully paid and  non-assessable,  and, without limiting the generality of
     the foregoing,  the Company  covenants and agrees that it will at all times
     to

<PAGE>

     reserve or hold available a sufficient  number of shares of Common Stock to
     cover the number of shares issuable upon the exercise of this Option.

  7. Rights as  Shareholder.  This Option shall not entitle the holder hereof to
     ----------------------
     any voting  rights or other rights as a shareholder  of the Company,  or to
     any other rights  whatsoever  except the rights  herein  expressed,  and no
     dividends  shall be  payable  or accrue in  respect  of this  Option or the
     interest  represented hereby or the shares  purchasable  hereunder until or
     unless, and except to the extent that, this Option shall be exercised.

  8. Information.  The Company  will  transmit to the holder of this Option such
     -----------
     information,   documents  and  reports  as  are  generally  distributed  to
     shareholders of the Company  concurrently with the distribution  thereof to
     such shareholders.

  9. Notices.  Notices to be given to the holder of this Option  shall be deemed
     -------
     to have been  sufficiently  given if delivered or mailed,  addressed in the
     name and at the  address of such  holder  appearing  in the  records of the
     Company,  and if mailed,  sent first class  registered  or certified  mail,
     postage  prepaid.  The address of the  Company is 100  Jericho  Quadrangle,
     Jericho,  New York 11753,  and the Company shall give written notice of any
     change of address to the holder hereof.

 10. Applicable  Law.  This Agreement and the legal  relations among the parties
     ---------------
     hereto shall be governed by and  construed in  accordance  with the laws of
     the State of New York applicable to contracts made and performed therein.

 11. Consent to  Jurisdiction  and  Waivers.   The  parties  hereto  irrevocably
     --------------------------------------
     consent  that any legal  action or  proceeding  against  any of them under,
     arising out of or in any manner  relating  to, this  Agreement or any other
     document delivered in connection  herewith,  may be brought in any court of
     the State of New York located  within Nassau County or in the United States
     District  Court for the Eastern  District of New York. By the execution and
     delivery of this Agreement,  the parties expressly and irrevocably  consent
     and submit to the personal  jurisdiction  of any of such courts in any such
     action or  proceeding.  The  parties  further  irrevocably  consent  to the
     service of any complaint,  summons, notice or other process relating to any
     such action or proceeding by delivery thereof to it by hand or by any other
     manner permitted by law. The parties hereby expressly and irrevocably waive
     any claim or defense in any such action or proceeding  based on any alleged
     lack of personal  jurisdiction,  improper  venue or forum non convenient or
     any similar basis.

          IN WITNESS WHEREOF,  the Company has caused this Option to be executed
and delivered as of the date first above written.

                                GRIFFON CORPORATION

                                By: /s/ Patrick Alesia
                                    ----------------------------
                                    PATRICK ALESIA, Vice President

                                    /s/ Eric Edelstein
                                    ----------------------------
                                     ERIC EDELSTEIN, Optionee

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