Document:

EXHIBIT 10.2

                          REGISTRATION RIGHTS AGREEMENT

      This Registration Rights Agreement (this "AGREEMENT") is made and entered
into as of this ___ day of _______ 2006 (the "EFFECTIVE DATE") between High Tide
Ventures, Inc., a Nevada corporation (the "COMPANY"), and the parties set forth
on the signature page and Exhibit A hereto (each, a "PURCHASER" and
collectively, the "PURCHASERS").

                                    RECITALS:

      WHEREAS, the Company and MMC Energy North America, LLC ("MMC") have
executed a Term Sheet, pursuant to which they will enter into an Agreement and
Plan of Merger and Reorganization, pursuant to which a newly organized,
wholly-owned subsidiary of the Company will merge with and into MMC, with MMC
being the surviving entity and a wholly-owned subsidiary of the Company (the
"MERGER") (the date such Merger becomes effective hereinafter referred to as the
"MERGER EFFECTIVE DATE");

      WHEREAS, as a condition to the consummation of the Merger, and to provide
the capital required by MMC for working capital purposes, the Company is
offering in compliance with Rule 506 of Regulation D of the Securities Act of
1933, as amended (the "SECURITIES ACT"), to accredited investors in a private
placement transaction (the "OFFERING"), up to 10,000,000 shares of the Company's
common stock, par value $0.001 per share ("COMMON STOCK") at the purchase price
of $1.00 per share;

      WHEREAS, The Offering will terminate upon the earlier of i) the receipt of
acceptable subscriptions totaling $10,000,000 or such greater amount as the
Company may determine, or ii) the election of the Company upon receipt of
subscriptions totaling at least $6,000,000; provided however, that the initial
closing of the Offering shall be concurrent with the close of the Merger (the
"CLOSING DATE"); and

      WHEREAS, the Purchasers, in connection with their intent to purchase
Shares in the Offering, shall execute and deliver Subscription Agreements (the
"SUBSCRIPTION AGREEMENTS") and Investor Questionnaires (the "INVESTOR
QUESTIONNAIRES") memorializing the Purchasers' agreement to purchase and the
Company's agreement to sell the number of Shares set forth therein at the
purchase price of $1.00 per share (the "PURCHASE PRICE") and this Agreement,
pursuant to which the Company will provide certain registration rights related
to the Shares on the terms set forth herein (the Subscription Agreements,
Investor Questionnaires and the Registration Rights Agreements are collectively
referred to as the "TRANSACTION DOCUMENTS").

      NOW, THEREFORE, in consideration of the mutual promises, representations,
warranties, covenants, and conditions set forth herein, the parties mutually
agree as follows:

      1. Certain Definitions. As used in this Agreement, the following terms
shall have the following respective meanings:

<PAGE>

      "Approved Market" means the NASD Over-The-Counter Bulletin Board, the
Nasdaq National Market, the Nasdaq Capital Market, the New York Stock Exchange,
Inc. or the American Stock Exchange, Inc.

      "Blackout Period" means, with respect to a registration, a period, in each
case commencing on the day immediately after the Company notifies the Purchasers
that they are required, because of the occurrence of an event of the kind
described in Section 4(f) hereof, to suspend offers and sales of Registrable
Securities during which the Company, in the good faith judgment of its board of
directors, determines (because of the existence of, or in anticipation of, any
acquisition, financing activity, or other transaction involving the Company, or
the unavailability for reasons beyond the Company's control of any required
financial statements, disclosure of information which is in its best interest
not to publicly disclose, or any other event or condition of similar
significance to the Company) that the registration and distribution of the
Registrable Securities to be covered by such registration statement, if any,
would be seriously detrimental to the Company and its stockholders and ending on
the earlier of (1) the date upon which the material non-public information
commencing the Blackout Period is disclosed to the public or ceases to be
material and (2) such time as the Company notifies the selling Holders that the
Company will no longer delay such filing of the Registration Statement,
recommence taking steps to make such Registration Statement effective, or allow
sales pursuant to such Registration Statement to resume; provided, however, that
(a) the Company shall limit its use of Blackout Periods, in the aggregate, to 30
Trading Days in any 12-month period and (b) no Blackout Period may commence
sooner than 60 days after the end of a prior Blackout Period.

      "Business Day" means any day of the year, other than a Saturday, Sunday,
or other day on which the Commission is required or authorized to close.

      "Closing Date" means the date set forth in the Recitals of this Agreement.

      "Commission" means the Securities and Exchange Commission or any other
federal agency at the time administering the Securities Act.

      "Common Stock" means the common stock, par value $0.001 per share, of the
Company and any and all shares of capital stock or other equity securities of:
(i) the Company which are added to or exchanged or substituted for the Common
Stock by reason of the declaration of any stock dividend or stock split, the
issuance of any distribution or the reclassification, readjustment,
recapitalization or other such modification of the capital structure of the
Company; and (ii) any other corporation, now or hereafter organized under the
laws of any state or other governmental authority, with which the Company is
merged, which results from any consolidation or reorganization to which the
Company is a party, or to which is sold all or substantially all of the shares
or assets of the Company, if immediately after such merger, consolidation,
reorganization or sale, the Company or the stockholders of the Company own
equity securities having in the aggregate more than 50% of the total voting
power of such other corporation.

      "Exchange Act" means the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission promulgated thereunder.

                                       2
<PAGE>

      "Family Member" means (a) with respect to any individual, such
individual's spouse, any descendants (whether natural or adopted), any trust all
of the beneficial interests of which are owned by anyof such individuals or by
any of such individuals together with any organization described in Section
501(c)(3) of the Internal Revenue Code of 1986, as amended, the estate of any
such individual, and any corporation, association, partnership or limited
liability company all of the equity interests of which are owned by those above
described individuals, trusts or organizations and (b) with respect to any
trust, the owners of the beneficial interests of such trust.

      "Holder" means each Purchaser or any of such Purchaser's respective
successors and Permitted Assigns who acquire rights in accordance with this
Agreement with respect to the Registrable Securities directly or indirectly from
a Purchaser or from any Permitted Assignee.

      "Majority Holders" means at any time Holders representing a majority of
the Registrable Securities.

      "Permitted Assignee" means (a) with respect to a partnership, its partners
or former partners in accordance with their partnership interests, (b) with
respect to a corporation, its stockholders in accordance with their interest in
the corporation, (c) with respect to a limited liability company, its members or
former members in accordance with their interest in the limited liability
company, (d) with respect to an individual party, any Family Member of such
party, (e) an entity that is controlled by, controls, or is under common control
with a transferor or (f) a party to this Agreement.

      "Piggyback Registration" means, in any registration of Common Stock as set
forth in Section 3(b), the ability of holders of Common Stock to include
Registrable Securities in such registration.

      "Purchase Price" means the Purchase Price per Share set forth in the
Subscription Agreement.

      The terms "register," "registered," and "registration" refer to a
registration effected by preparing and filing a registration statement in
compliance with the Securities Act, and the declaration or ordering of the
effectiveness of such registration statement.

      "Registrable Securities" means the Shares issued or issuable to each
Purchaser in connection with such Purchaser's purchase of Shares pursuant to the
Subscription Agreements, but excluding (i) any Registrable Securities that have
been publicly sold or may be sold immediately without registration under the
Securities Act either pursuant to Rule 144 of the Securities Act or otherwise;
(ii) any Registrable Securities sold by a person in a transaction pursuant to a
registration statement filed under the Securities Act or (iii) any Registrable
Securities that are at the time subject to an effective registration statement
under the Securities Act.

      "Registration Default Date" means the date that is 120 days following the
Registration Filing Date.

      "Registration Default Period" means the period following the Registration
Default Date during which any Registration Event occurs and is continuing.

                                       3
<PAGE>

      "Registration Event" means the occurrence of any of the following events:

            (a) the Company fails to file with the Commission the Registration
Statement on or before the Registration Filing Date (as defined in Section
3(a));

            (b) the Registration Statement is not declared effective by the
Commission on or before the Registration Default Date;

            (c) after the SEC Effective Date, sales cannot be made pursuant to
the Registration Statement for any reason (including without limitation by
reason of a stop order, or the Company's failure to update the Registration
Statement) except as excused pursuant to Section 3(a); or

            (d) the Common Stock generally or the Registrable Securities
specifically are not listed or included for quotation on an Approved Market, or
trading of the Common Stock is suspended or halted on the Approved Market, which
at the time constitutes the principal market for the Common Stock, for more than
two full, consecutive Trading Days; provided, however, a Registration Event
shall not be deemed to occur if all or substantially all trading in equity
securities (including the Common Stock) is suspended or halted on the Approved
Market for any length of time.

      "Registration Filing Date" means the date that is 120 days after the
Merger.

      "Registration Statement" means the registration statement that the Company
is required to file pursuant to this Agreement to register the Registrable
Securities.

      "Rule 144" means Rule 144 promulgated by the Commission under the
Securities Act.

      "Securities Act" means the Securities Act of 1933, as amended, or any
similar federal statute promulgated in replacement thereof, and the rules and
regulations of the Commission thereunder, all as the same shall be in effect at
the time.

      "SEC Effective Date" means the date the Registration Statement is declared
effective by the Commission.

      "Shares" mean the shares of Common Stock offered by the Company and
purchased by the Purchaser pursuant to the Subscription Agreement.

      "Subscription Agreement" means the Subscription Agreement dated as of the
date hereof between the Company and the Purchaser setting forth the terms and
conditions of the Company's offer of Shares and the Purchaser's purchase of
Shares.

      "Trading Day" means any day on which the national securities exchange, the
Nasdaq Stock Market, the NASD Over the Counter Bulletin Board or such other
securities market or quotation system, which at the time constitutes the
principal securities market for the Common Stock, is open for general trading of
securities.

                                       4
<PAGE>

      2. Term. This Agreement shall continue in full force and effect for a
period of two years from the Effective Date, unless terminated sooner hereunder.

      3. Registration.

            (a) Registration on Form SB-2. Not later than the Registration
Filing Date, the Company shall file with the Commission a registration statement
on Form SB-2, or other applicable form, relating to the resale by the Holders of
all of the Registrable Securities, and the Company shall use its commercially
reasonable best efforts to cause such registration statement to be declared
effective prior to the Registration Default Date; provided, however, that the
Company shall not be obligated to effect any such registration, qualification,
or compliance pursuant to this Section, or keep such registration effective
pursuant to the terms hereunder: (i) in any particular jurisdiction in which the
Company would be required to qualify to do business as a foreign corporation or
as a dealer in securities under the securities or blue sky laws of such
jurisdiction or to execute a general consent to service of process in effecting
such registration, qualification or compliance, in each case where it has not
already done so or (ii) during any Blackout Period, in which case the
Registration Filing Date shall be extended to the date immediately following the
last day of such Blackout Period.

            (b) Piggyback Registration. If the Company shall determine to
register for sale for cash any of its Common Stock, for its own account or for
the account of others (other than the Holders), other than (i) a registration
relating solely to employee benefit plans or securities issued or issuable to
employees, consultants (to the extent the securities owned or to be owned by
such consultants could be registered on Form S-8) or any of their Family Members
(including a registration on Form S-8) or (ii) a registration relating solely to
a Commission Rule 145 transaction, a registration on Form S-4 in connection with
a merger, acquisition, divestiture, reorganization, or similar event, the
Company shall promptly give to the Holders written notice thereof (and in no
event shall such notice be given less than 20 calendar days prior to the filing
of such registration statement), and shall, subject to Section 3(c), include as
a Piggyback Registration all of the Registrable Securities specified in a
written request delivered by the Holder within 10 calendar days after receipt of
such written notice from the Company. However, the Company may, without the
consent of the Holders, withdraw such registration statement prior to its
becoming effective if the Company or such other stockholders have elected to
abandon the proposal to register the securities proposed to be registered
thereby.

            (c) Underwriting. If a Piggyback Registration is for a registered
public offering involving an underwriting, the Company shall so advise the
Holders. In such event, the right of any Holder to Piggyback Registration shall
be conditioned upon such Holder's participation in such underwriting and the
inclusion of such Holder's Registrable Securities in the underwriting to the
extent provided herein. All Holders proposing to include the Registrable
Securities they hold through such underwriting shall (together with the Company
and any other stockholders of the Company selling their securities through such
underwriting) enter into an underwriting agreement in customary form with the
underwriter selected for such underwriting by the Company or the selling
stockholders, as applicable. Notwithstanding any other provision of this
Section, if the underwriter or the Company determines that marketing factors
require a limitation of the number of shares of Common Stock or the amount of
other securities to be underwritten, the underwriter may exclude some or all
Registrable Securities from such registration and underwriting. The Company
shall so advise all Holders (except those Holders who failed to timely elect to
include their Registrable Securities through such underwriting or have indicated
to the Company their decision not to do so), and indicate to each such Holder
the number of shares of Registrable Securities that may be included in the
registration and underwriting, if any. The number of shares of Registrable
Securities to be included in such registration and underwriting shall be
allocated among such Holders as follows:

                                       5
<PAGE>

            (i) In the event of a Piggyback Registration that is initiated by
      the Company, the number of shares that may be included in the registration
      and underwriting shall be allocated first to the Company and then, subject
      to obligations and commitments existing as of the date hereof, to all
      selling stockholders, including the Holders, who have requested to sell in
      the registration on a pro rata basis according to the number of shares
      requested to be included; and

            (ii) In the event of a Piggyback Registration that is initiated by
      the exercise of demand registration rights by a stockholder or
      stockholders of the Company (other than the Holders), then the number of
      shares that may be included in the registration and underwriting shall be
      allocated first to such selling stockholders who exercised such demand and
      then, subject to obligations and commitments existing as of the date
      hereof, to all other selling stockholders, including the Holders, who have
      requested to sell in the registration, on a pro rata basis according to
      the number of shares requested to be included.

      No Registrable Securities excluded from the underwriting by reason of the
underwriter's marketing limitation shall be included in such registration. If
any Holder disapproves of the terms of any such underwriting, such Holder may
elect to withdraw their Registrable Securities therefrom by delivery of written
notice to the Company and the underwriter. The Registrable Securities so
withdrawn from such underwriting shall also be withdrawn from such registration;
provided, however, that, if by the withdrawal of such Registrable Securities a
greater number of Registrable Securities held by other Holders may be included
in such registration (up to the maximum of any limitation imposed by the
underwriters), then the Company shall offer to all Holders who have included
Registrable Securities in the registration the right to include additional
Registrable Securities pursuant to the terms and limitations set forth herein in
the same proportion used above in determining the underwriter limitation.

            (d) Other Registrations. Prior to the SEC Effective Date, the
Company will not, without the prior written consent of the Majority Holders,
file or request the acceleration of any other registration statement filed with
the Commission, and during any time subsequent to the SEC Effective Date when
the Registration Statement for any reason is not available for use by any Holder
for the resale of any Registrable Securities, the Company shall not, without the
prior written consent of the Majority Holders, file any other registration
statement or any amendment thereto with the Commission under the Securities Act
or request the acceleration of the effectiveness of any other registration
statement previously filed with the Commission, other than (i) any registration
statement on Form S-8 or Form S-4 and (ii) any registration statement or
amendment which the Company is required to file or as to which the Company is
required to request acceleration pursuant to any obligation in effect on the
date of execution and delivery of this Agreement.

                                       6
<PAGE>

            (e) Occurrence of Registration Event. If a Registration Event
occurs, then the Company will make payments to each Purchaser (a "QUALIFIED
PURCHASER"), as partial liquidated damages for the minimum amount of damages to
the Qualified Purchaser by reason thereof, and not as a penalty, at a rate equal
to 1% of the Purchase Price per share of Registrable Securities then held by a
Qualified Purchaser monthly, for each calendar month of the Registration Default
Period (pro rated for any period less than 30 days); provided, however, if a
Registration Event occurs (or is continuing) on a date more than one-year after
the Qualified Purchaser acquired the Registrable Securities (and thus the
one-year holding period under Rule 144(d) has elapsed), liquidated damages shall
be paid only with respect to that portion of the Qualified Purchaser's
Registrable Securities that cannot then be immediately resold in reliance on
Rule 144. Each such payment shall be due and payable within five days after the
end of each calendar month of the Registration Default Period until the
termination of the Registration Default Period and within five days after such
termination. Such payments shall constitute the Qualified Purchaser's exclusive
remedy for such events. The Registration Default Period shall terminate upon (i)
the filing of the Registration Statement in the case of clause (a) of the
definition of Registration Event, (ii) the SEC Effective Date in the case of
clause (b) of the definition of Registration Event, (iii) the ability of the
Qualified Purchaser to effect sales pursuant to the Registration Statement in
the case of clause (c) of the definition of Registration Event, (iv) the listing
or inclusion and/or trading of the Common Stock on an Approved Market, as the
case may be, in the case of clause (d) of the definition of Registration Event,
and (v) in the case of the events described in clauses (b) and (c) of the
definition of Registration Event, the earlier termination of the Registration
Default Period. The amounts payable as partial liquidated damages pursuant to
this paragraph shall be payable in lawful money of the United States. Amounts
payable as liquidated damages to each Qualified Purchaser hereunder with respect
to each share of Registrable Securities shall cease when the Qualified Purchaser
no longer holds such shares of Registrable Securities or such shares of
Registrable Securities can be immediately sold by the Qualified Purchaser in
reliance on Rule 144(k).

      4. Registration Procedures. The Company will keep each Holder reasonably
advised as to the filing and effectiveness of the Registration Statement. At its
expense with respect to the Registration Statement, the Company will:

            (a) prepare and file with the Commission with respect to the
Registrable Securities, a registration statement on Form SB-2, or any other form
for which the Company then qualifies or which counsel for the Company shall deem
appropriate and which form shall be available for the sale of the Registrable
Securities in accordance with the intended methods of distribution thereof, and
use its commercially reasonable efforts to cause such registration statement to
become and remain effective at for a period of two years or for such shorter
period ending on the earlier to occur of (i) the sale of all Registrable
Securities and (ii) the availability under Rule 144(k) for the Holder to sell
the Registrable Securities (in either case, the "EFFECTIVENESS PERIOD");

            (b) if a registration statement is subject to review by the
Commission, promptly respond to all comments and diligently pursue resolution of
any comments to the satisfaction of the Commission;

                                       7
<PAGE>

            (c) prepare and file with the Commission such amendments and
supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to keep such registration statement effective
during the Effectiveness Period;

            (d) furnish, without charge, to each Holder of Registrable
Securities covered by such registration statement (i) a reasonable number of
copies of such registration statement (including any exhibits thereto other than
exhibits incorporated by reference), each amendment and supplement thereto as
such Holder may reasonably request, (ii) such number of copies of the prospectus
included in such registration statement (including each preliminary prospectus
and any other prospectus filed under Rule 424 under the Securities Act) as such
Holders may reasonably request, in conformity with the requirements of the
Securities Act, and (iii) such other documents as such Holder may require to
consummate the disposition of the Registrable Securities owned by such Holder,
but only during the Effectiveness Period;

            (e) use its commercially reasonable best efforts to register or
qualify such registration under such other applicable securities or blue sky
laws of such jurisdictions as any Holder of Registrable Securities covered by
such registration statement reasonably requests and as may be necessary for the
marketability of the Registrable Securities (such request to be made by the time
the applicable registration statement is deemed effective by the Commission) and
do any and all other acts and things necessary to enable such Holder to
consummate the disposition in such jurisdictions of the Registrable Securities
owned by such Holder; provided, however, that the Company shall not be required
to (i) qualify generally to do business in any jurisdiction where it would not
otherwise be required to qualify but for this paragraph, (ii) subject itself to
taxation in any such jurisdiction, or (iii) consent to general service of
process in any such jurisdiction;

            (f) as promptly as practicable after becoming aware of such event,
notify each Holder of Registrable Securities, the disposition of which requires
delivery of a prospectus relating thereto under the Securities Act, of the
happening of any event, which comes to the Company's attention, that will after
the occurrence of such event cause the prospectus included in such registration
statement, if not amended or supplemented, to contain an untrue statement of a
material fact or an omission to state a material fact required to be stated
therein or necessary to make the statements therein not misleading and the
Company shall promptly thereafter prepare and furnish to such Holder a
supplement or amendment to such prospectus (or prepare and file appropriate
reports under the Exchange Act) so that, as thereafter delivered to the
purchasers of such Registrable Securities, such prospectus shall not contain an
untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary to make the statements therein not misleading,
unless suspension of the use of such prospectus otherwise is authorized herein
or in the event of a Blackout Period, in which case no supplement or amendment
need be furnished (or Exchange Act filing made) until the termination of such
suspension or Blackout Period;

            (g) comply, and continue to comply during the Effectiveness Period,
in all material respects with the Securities Act and the Exchange Act and with
all applicable rules and regulations of the Commission with respect to the
disposition of all securities covered by such registration statement;

                                       8
<PAGE>

            (h) as promptly as practicable after becoming aware of such event,
notify each Holder of Registrable Securities being offered or sold pursuant to
the Registration Statement of the issuance by the Commission of any stop order
or other suspension of effectiveness of the Registration Statement;

            (i) use its best efforts to cause all the Registrable Securities
covered by the Registration Statement to be quoted on the NASD OTC Bulletin
Board or such other principal securities market on which securities of the same
class or series issued by the Company are then listed or traded;

            (j) provide a transfer agent and registrar, which may be a single
entity, for the shares of Common Stock at all times;

            (k) cooperate with the Holders of Registrable Securities being
offered pursuant to the Registration Statement to issue and deliver, or cause
its transfer agent to issue and deliver, certificates representing Registrable
Securities to be offered pursuant to the Registration Statement within a
reasonable time after the delivery of certificates representing the Registrable
Securities to the transfer agent or the Company, as applicable, and enable such
certificates to be in such denominations or amounts as the Holders may
reasonably request and registered in such names as the Holders may request;

            (l) during the Effectiveness Period, refrain from bidding for or
purchasing any Common Stock or any right to purchase Common Stock or attempting
to induce any person to purchase any such security or right if such bid,
purchase or attempt would in any way limit the right of the Holders to sell
Registrable Securities by reason of the limitations set forth in Regulation M
under the Exchange Act; and

            (m) take all other reasonable actions necessary to expedite and
facilitate the disposition by the Holders of the Registrable Securities pursuant
to the Registration Statement.

      5. Suspension of Offers and Sales. Each Holder agrees that, upon receipt
of any notice from the Company of the happening of any event of the kind
described in Section 4(f) hereof or of the commencement of an Blackout Period,
such Holder shall discontinue the disposition of Registrable Securities included
in the Registration Statement until such Holder's receipt of the copies of the
supplemented or amended prospectus contemplated by Section 4(f) hereof or notice
of the end of the Blackout Period, and, if so directed by the Company, such
Holder shall deliver to the Company (at the Company's expense) all copies
(including, without limitation, any and all drafts), other than permanent file
copies, then in such Holder's possession, of the prospectus covering such
Registrable Securities current at the time of receipt of such notice.

      6. Registration Expenses. The Company shall pay all expenses in connection
with any registration obligation provided herein, including, without limitation,
all registration, filing, stock exchange fees, printing expenses, all fees and
expenses of complying with securities or blue sky laws, and the fees and
disbursements of counsel for the Company and of its independent accountants;
provided that, in any underwritten registration, each party shall pay for its
own underwriting discounts and commissions and transfer taxes. Except as
provided in this Section and Section 9, the Company shall not be responsible for
the expenses of any attorney or other advisor employed by a Holder.

                                       9
<PAGE>

      7. Assignment of Rights. No Holder may assign its rights under this
Agreement to any party without the prior written consent of the Company;
provided, however, that a Holder may assign its rights under this Agreement
without such consent to a Permitted Assignee as long as (a) such transfer or
assignment is effected in accordance with applicable securities laws; (b) such
transferee or assignee agrees in writing to become subject to the terms of this
Agreement; and (c) the Company is given written notice by such Holder of such
transfer or assignment, stating the name and address of the transferee or
assignee and identifying the Registrable Securities with respect to which such
rights are being transferred or assigned.

      8. Information by Holder. Holders included in any registration shall
furnish to the Company such information as the Company may reasonable request in
writing regarding such Holders and the distribution proposed by such Holders.

      9. Indemnification.

            (a) In the event of the offer and sale of Registrable Securities
under the Securities Act, the Company shall, and hereby does, indemnify and hold
harmless, to the fullest extent permitted by law, each Holder, its directors,
officers, partners, each other person who participates as an underwriter in the
offering or sale of such securities, and each other person, if any, who controls
or is under common control with such Holder or any such underwriter within the
meaning of Section 15 of the Securities Act, against any losses, claims, damages
or liabilities, joint or several, and expenses to which the Holder or any such
director, officer, partner or underwriter or controlling person may become
subject under the Securities Act or otherwise, insofar as such losses, claims,
damages, liabilities or expenses (or actions or proceedings, whether commenced
or threatened, in respect thereof) arise out of or are based upon any untrue
statement of any material fact contained in any registration statement prepared
and filed by the Company under which shares of Registrable Securities were
registered under the Securities Act, any preliminary prospectus, final
prospectus or summary prospectus contained therein, or any amendment or
supplement thereto, or any omission to state therein a material fact required to
be stated therein or necessary to make the statements therein in light of the
circumstances in which they were made not misleading, and the Company shall
reimburse the Holder, and each such director, officer, partner, underwriter and
controlling person for any legal or any other expenses reasonably incurred by
them in connection with investigating, defending or settling any such loss,
claim, damage, liability, action or proceeding; provided that the Company shall
not be liable in any such case (i) to the extent that any such loss, claim,
damage, liability (or action or proceeding in respect thereof) or expense arises
out of or is based upon an untrue statement in or omission from such
registration statement, any such preliminary prospectus, final prospectus,
summary prospectus, amendment or supplement in reliance upon and in conformity
with written information furnished to the Company through an instrument duly
executed by or on behalf of such Holder specifically stating that it is for use
in the preparation thereof or (ii) if the person asserting any such loss, claim,
damage, liability (or action or proceeding in respect thereof) who purchased the
Registrable Securities that are the subject thereof did not receive a copy of an
amended preliminary prospectus or the final prospectus (or the final prospectus
as amended or supplemented) at or prior to the written confirmation of the sale
of such Registrable Securities to such person because of the failure of such
Holder or underwriter to so provide such amended preliminary or final prospectus
and the untrue statement or omission of a material fact made in such preliminary
prospectus was corrected in the amended preliminary or final prospectus (or the
final prospectus as amended or supplemented). Such indemnity shall remain in
full force and effect regardless of any investigation made by or on behalf of
the Holders, or any such director, officer, partner, underwriter or controlling
person and shall survive the transfer of such shares by the Holder.

                                       10
<PAGE>

            (b) As a condition to including Registrable Securities in any
registration statement filed pursuant to this Agreement, each Holder agrees to
be bound by the terms of this Section 9 and to indemnify and hold harmless, to
the fullest extent permitted by law, the Company, its directors and officers,
and each other person, if any, who controls the Company within the meaning of
Section 15 of the Securities Act, against any losses, claims, damages or
liabilities, joint or several, to which the Company or any such director or
officer or controlling person may become subject under the Securities Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions or
proceedings, whether commenced or threatened, in respect thereof) that arises
out of or is based upon an untrue statement in or omission from such
registration statement, any such preliminary prospectus, final prospectus,
summary prospectus, amendment or supplement in reliance upon and in conformity
with written information furnished to the Holder through an instrument duly
executed by or on behalf of the Company specifically stating that it is for use
in the preparation thereof, and such Holder shall reimburse the Company, and
each such director, officer, and controlling person for any legal or other
expenses reasonably incurred by them in connection with investigating,
defending, or settling and such loss, claim, damage, liability, action, or
proceeding; provided, however, that such indemnity agreement found in this
Section 9 shall in no event exceed the gross proceeds from the offering received
by such Holder. Such indemnity shall remain in full force and effect, regardless
of any investigation made by or on behalf of the Company or any such director,
officer or controlling person and shall survive the transfer by any Holder of
such shares.

            (c) Promptly after receipt by an indemnified party of notice of the
commencement of any action or proceeding involving a claim referred to in this
Section (including any governmental action), such indemnified party shall, if a
claim in respect thereof is to be made against an indemnifying party, give
written notice to the indemnifying party of the commencement of such action;
provided that the failure of any indemnified party to give notice as provided
herein shall not relieve the indemnifying party of its obligations under this
Section, except to the extent that the indemnifying party is actually prejudiced
by such failure to give notice. In case any such action is brought against an
indemnified party, unless in the reasonable judgment of counsel to such
indemnified party a conflict of interest between such indemnified and
indemnifying parties may exist or the indemnified party may have defenses not
available to the indemnifying party in respect of such claim, the indemnifying
party shall be entitled to participate in and to assume the defense thereof,
with counsel reasonably satisfactory to such indemnified party and, after notice
from the indemnifying party to such indemnified party of its election so to
assume the defense thereof, the indemnifying party shall not be liable to such
indemnified party for any legal or other expenses subsequently incurred by the
latter in connection with the defense thereof, unless in such indemnified
party's reasonable judgment a conflict of interest between such indemnified and
indemnifying parties arises in respect of such claim after the assumption of the
defenses thereof or the indemnifying party fails to defend such claim in a
diligent manner, other than reasonable costs of investigation. Neither an
indemnified nor an indemnifying party shall be liable for any settlement of any
action or proceeding effected without its consent. No indemnifying party shall,
without the consent of the indemnified party, consent to entry of any judgment
or enter into any settlement, which does not include as an unconditional term
thereof the giving by the claimant or plaintiff to such indemnified party of a
release from all liability in respect of such claim or litigation.
Notwithstanding anything to the contrary set forth herein, and without limiting
any of the rights set forth above, in any event any party shall have the right
to retain, at its own expense, counsel with respect to the defense of a claim.

                                       11
<PAGE>

            (d) In the event that an indemnifying party does or is not permitted
to assume the defense of an action pursuant to Sections 9(c) or in the case of
the expense reimbursement obligation set forth in Sections 9(a) and (b), the
indemnification required by Sections 9(a) and (b) hereof shall be made by
periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills received or expenses, losses, damages, or
liabilities are incurred.

            (e) If the indemnification provided for in this Section is held by a
court of competent jurisdiction to be unavailable to an indemnified party with
respect to any loss, liability, claim, damage or expense referred to herein, the
indemnifying party, in lieu of indemnifying such indemnified party hereunder,
shall (i) contribute to the amount paid or payable by such indemnified party as
a result of such loss, liability, claim, damage or expense as is appropriate to
reflect the proportionate relative fault of the indemnifying party on the one
hand and the indemnified party on the other (determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact
or omission relates to information supplied by the indemnifying party or the
indemnified party and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such untrue statement or
omission), or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law or provides a lesser sum to the indemnified party
than the amount hereinafter calculated, not only the proportionate relative
fault of the indemnifying party and the indemnified party, but also the relative
benefits received by the indemnifying party on the one hand and the indemnified
party on the other, as well as any other relevant equitable considerations. No
indemnified party guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any
indemnifying party who was not guilty of such fraudulent misrepresentation.

            (f) Other Indemnification. Indemnification similar to that specified
in this Section (with appropriate modifications) shall be given by the Company
and each Holder of Registrable Securities with respect to any required
registration or other qualification of securities under any federal or state law
or regulation or governmental authority other than the Securities Act.

      10. Rule 144. For a period of at least 24 months following the Closing
Date, the Company will use its commercially reasonable best efforts to timely
file all reports required to be filed by the Company after the date hereof under
the Securities Act and the Exchange Act and the rules and regulations adopted by
the Commission thereunder, and if the Company is not required to file reports
pursuant to such sections, it will prepare and furnish to the Purchasers and
make publicly available in accordance with Rule 144(c) such information as is
required for the Purchasers to sell shares of Common Stock under Rule 144.

                                       12
<PAGE>

      11. Independent Nature of Each Purchaser's Obligations and Rights. The
obligations of each Purchaser under this Agreement are several and not joint
with the obligations of any other Purchaser, and each Purchaser shall not be
responsible in any way for the performance of the obligations of any other
Purchaser under this Agreement. Nothing contained herein and no action taken by
any Purchaser pursuant hereto, shall be deemed to constitute such Purchasers as
a partnership, an association, a joint venture, or any other kind of entity, or
create a presumption that the Purchasers are in any way acting in concert or as
a group with respect to such obligations or the transactions contemplated by
this Agreement. Each Purchaser shall be entitled to independently protect and
enforce its rights, including without limitation the rights arising out of this
Agreement, and it shall not be necessary for any other Purchaser to be joined as
an additional party in any proceeding for such purpose.

      12. Miscellaneous.

            (a) Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York and the United States of
America, both substantive and remedial, without regard to New York conflicts of
law principles. Any judicial proceeding brought against either of the parties to
this agreement or any dispute arising out of this Agreement or any matter
related hereto shall be brought in the courts of the State of New York, New York
County, or in the United States District Court for the Southern District of New
York and, by its execution and delivery of this agreement, each party to this
Agreement accepts the jurisdiction of such courts. The foregoing consent to
jurisdiction shall not be deemed to confer rights on any person other than the
parties to this Agreement.

            (b) Successors and Assigns. Except as otherwise provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, Permitted Assigns, executors and administrators of the parties
hereto. In the event the Company merges with, or is otherwise acquired by, a
direct or indirect subsidiary of a publicly traded company, the Company shall
condition the merger or acquisition on the assumption by such parent company of
the Company's obligations under this Agreement.

            (c) Entire Agreement. This Agreement constitutes the full and entire
understanding and agreement between the parties with regard to the subjects
hereof.

            (d) Notices, etc. All notices or other communications which are
required or permitted under this Agreement shall be in writing and sufficient if
delivered by hand, by facsimile transmission, by registered or certified mail,
postage pre-paid, by electronic mail, or by courier or overnight carrier, to the
persons at the addresses set forth below (or at such other address as may be
provided hereunder), and shall be deemed to have been delivered as of the date
so delivered:

                                       13
<PAGE>

         if to the Company to:

                  High Tide Ventures, Inc.
                  26 Broadway, Suite 907
                  New York, NY 10004
                  Attention: Karl W. Miller, Chief Executive Officer
                  Facsimile: (604) 922-8993

         If to the Purchasers:

                  To each Purchaser at the address
                  set forth on Exhibit A

or at such other address as any party shall have furnished to the other parties
in writing.

            (e) Delays or Omissions. No delay or omission to exercise any right,
power or remedy accruing to any Holder, upon any breach or default of the
Company under this Agreement, shall impair any such right, power or remedy of
such Holder nor shall it be construed to be a waiver of any such breach or
default, or an acquiescence therein, or of or in any similar breach or default
thereunder occurring; nor shall any waiver of any single breach or default be
deemed a waiver of any other breach or default theretofore or thereafter
occurring. Any waiver, permit, consent or approval of any kind or character on
the part of any Holder of any breach or default under this Agreement, or any
waiver on the part of any Holder of any provisions or conditions of this
Agreement, must be in writing and shall be effective only to the extent
specifically set forth in such writing. All remedies, either under this
Agreement, or by law or otherwise afforded to any holder, shall be cumulative
and not alternative.

            (f) Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be enforceable against the parties actually
executing such counterparts, and all of which together shall constitute one
instrument. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile signature page were an original thereof.

            (g) Severability. In the case any provision of this Agreement shall
be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired
thereby.

            (h) Amendments. The provisions of this Agreement may be amended at
any time and from time to time, and particular provisions of this Agreement may
be waived, with and only with an agreement or consent in writing signed by the
Company and the Majority Holders. The Purchasers acknowledge that by the
operation of this Section, the Majority Holders may have the right and power to
diminish or eliminate all rights of the Purchasers under this Agreement.

                                       14
<PAGE>

            (i) Limitation on Subsequent Registration Rights. After the date of
this Agreement, the Company shall not, without the prior written consent of the
Majority Holders, enter into any agreement with any holder or prospective holder
of any securities of the Company that would grant such holder registration
rights senior to those granted to the Holders hereunder.

                            [SIGNATURE PAGES FOLLOW]

                                       15
<PAGE>

This Registration Rights Agreement is hereby executed as of the date first above
written.

                                         COMPANY:

                                         HIGH TIDE VENTURES, INC.

                                         By:    ___________________________
                                         Name:  Brent Peters
                                         Its:   President and Chief Executive
                                                Officer

                      [SIGNATURE PAGE OF PURCHASER FOLLOWS]

                                       16
<PAGE>

      This Registration Rights Agreement is hereby executed as of the date first
above written.

                                         PURCHASER:

                                         ---------------------------------------

                                         ---------------------------------------
                                                              (PRINT NAME)

                                         BY:
                                                      --------------------------

                                         NAME:
                                                      --------------------------

                                         ITS:
                                                      --------------------------

                                       17
<PAGE>

                                    Exhibit A

                                   Purchasers

Purchaser Name                  Purchaser Address               Number of Shares
--------------                  -----------------               ----------------Exhibit 10.3

                               SPLIT-OFF AGREEMENT

      SPLIT-OFF AGREEMENT, dated as of this 15th day of May 2006 (this
"Agreement"), by and among MMC Energy, Inc. (f/k/a High Tide Ventures, Inc.), a
Nevada corporation ("Seller"), Brent Peters ("Peters"), Douglas Smith ("Smith")
(Peters and Smith are collectively referred to as "Buyer"), High Tide Leasco,
Inc., a Nevada corporation ("Leasco"), and MMC Energy North America, LLC, a
Delaware limited liability company ("MMC").

                                R E C I T A L S:

      WHEREAS, Seller is the owner of all of the issued and outstanding capital
stock of Leasco. Leasco is a newly-formed wholly owned subsidiary of Seller
which was organized to acquire, and has so acquired, a mineral lease previously
granted to Seller. Seller has no other businesses or operations;

      WHEREAS, prior to the execution of this Agreement, Seller, MMC, and a
newly-formed wholly-owned Delaware subsidiary of Seller, MMC Energy Acquisition
Corp. ("Acquisition Corp."), have entered into an Agreement and Plan of Merger
and Reorganization (the "Merger Agreement") pursuant to which Acquisition Corp.
merged with and into MMC with MMC being the surviving entity (the "Merger"), and
the members of MMC received shares of common stock in Seller in exchange for
their membership interests;

      WHEREAS, the execution and delivery of this Agreement was required by MMC
as a condition subsequent to its execution of the Merger Agreement. The
consummation of the purchase and sale transaction contemplated by this Agreement
was also a condition subsequent to the completion of the Merger pursuant to the
Merger Agreement. Seller has represented to MMC in the Merger Agreement that the
purchase and sale transaction contemplated by this Agreement would be
consummated as soon as practicable following the consummation of the Merger, and
MMC relied on such representation in entering into the Merger Agreement;

      WHEREAS, Buyer desires to purchase the Shares (as defined in Section 1.1)
from Seller, and to assume, as between Seller and Buyer, all responsibilities
for any debts, obligations and liabilities of Leasco, on the terms and subject
to the conditions specified in this Agreement; and

      WHEREAS, Seller desires to sell and transfer the Shares to the Buyer, on
the terms and subject to the conditions specified in this Agreement;

      NOW, THEREFORE, in consideration of the premises and the covenants,
promises, and agreements herein set forth and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending legally to be bound, agree as follows.

<PAGE>

I. PURCHASE AND SALE OF STOCK.

      1.1 Purchased Shares. Subject to the terms and conditions provided below,
Seller shall sell and transfer to Buyer and Buyer shall purchase from Seller, on
the Closing Date (as defined in Section 1.3), all the issued and outstanding
shares of capital stock of Leasco (the "Shares").

      1.2 Purchase Price. The purchase price for the Shares shall be the
transfer and delivery by each of Peters and Smith to Seller of 3,839,870 shares
of common stock of Seller that each of them owns, or an aggregate of 7,679,740
shares (the "Purchase Price Shares"), deliverable as provided in Section 2.2.

      1.3 Closing. The closing of the transactions contemplated in this
Agreement (the "Closing") shall take place as soon as practicable following the
execution of this Agreement. The date on which the Closing occurs shall be
referred to herein as the Closing Date (the "Closing Date").

II. CLOSING.

      2.1 Transfer of Shares. At the Closing, Seller shall deliver to Buyer
certificates representing the Shares, duly endorsed to Buyer or as directed by
Buyer, which delivery shall vest Buyer with good and marketable title to all of
the issued and outstanding shares of capital stock of Leasco, free and clear of
all liens and encumbrances.

      2.2 Payment of Purchase Price. At the Closing, Buyer shall deliver to
Seller a certificate or certificates representing the Purchase Price Shares duly
endorsed to Seller, which delivery shall vest Seller with good and marketable
title to the Purchase Price Shares, free and clear of all liens and
encumbrances.

      2.3 Transfer of Records. On or before the Closing, Seller shall arrange
for transfer to Leasco all existing corporate books and records in Seller's
possession relating to Leasco and its business, including but not limited to all
agreements, litigation files, real estate files, mineral leases, personnel files
and filings with governmental agencies; provided, however, when any such
documents relate to both Seller and Leasco, only copies of such documents need
be furnished. On or before the Closing, Buyer and Leasco shall transfer to
Seller all existing corporate books and records in the possession of Buyer or
Leasco relating to Seller, including but not limited to all corporate minute
books, stock ledgers, certificates and corporate seals of Seller and all
agreements, litigation files, real property files, personnel files and filings
with governmental agencies; provided, however, when any such documents relate to
both Seller and Leasco or its business, only copies of such documents need be
furnished.

III. BUYER'S REPRESENTATIONS AND WARRANTIES. Buyer represents and warrants to
Seller and MMC that:

      3.1 Capacity and Enforceability. Buyer has the legal capacity to execute
and deliver this Agreement and the documents to be executed and delivered by
Buyer at the Closing pursuant to the transactions contemplated hereby. This
Agreement and all such documents constitute valid and binding agreements of
Buyer, enforceable in accordance with their terms.

                                      -2-
<PAGE>

      3.2 Compliance. Neither the execution and delivery of this Agreement nor
the consummation of the transactions contemplated hereby by Buyer will result in
the breach of any term or provision of, or constitute a default under, or
violate any agreement, indenture, instrument, order, law or regulation to which
Buyer is a party or by which Buyer is bound.

      3.3 Purchase for Investment. Buyer is financially able to bear the
economic risks of acquiring an interest in Leasco and the other transactions
contemplated hereby, and has no need for liquidity in this investment. Buyer has
such knowledge and experience in financial and business matters in general and
with respect to businesses of a nature similar to the business of Leasco so as
to be capable of evaluating the merits and risks of, and making an informed
business decision with regard to, the acquisition of the Shares. Buyer is
acquiring the Shares solely for his own account and not with a view to or for
resale in connection with any distribution or public offering thereof, within
the meaning of any applicable securities laws and regulations, unless such
distribution or offering is registered under the Securities Act of 1933, as
amended (the "Securities Act"), or an exemption from such registration is
available. Buyer has (i) received all the information he has deemed necessary to
make an informed investment decision with respect to the acquisition of the
Shares; (ii) had an opportunity to make such investigation as he has desired
pertaining to Leasco and the acquisition of an interest therein and to verify
the information which is, and has been, made available to him; and (iii) had the
opportunity to ask questions of Seller concerning Leasco. Buyer acknowledges
that Buyer is an officer and director of Seller and Leasco and, as such, has
actual knowledge of the business, operations and financial affairs of Leasco.
Buyer has received no public solicitation or advertisement with respect to the
offer or sale of the Shares. Buyer realizes that the Shares are "restricted
securities" as that term is defined in Rule 144 promulgated by the Securities
and Exchange Commission under the Securities Act, the resale of the Shares is
restricted by federal and state securities laws and, accordingly, the Shares
must be held indefinitely unless their resale is subsequently registered under
the Securities Act or an exemption from such registration is available for their
resale. Buyer understands that any resale of the Shares by him must be
registered under the Securities Act (and any applicable state securities law) or
be effected in circumstances that, in the opinion of counsel for Leasco at the
time, create an exemption or otherwise do not require registration under the
Securities Act (or applicable state securities laws). Buyer acknowledges and
consents that certificates now or hereafter issued for the Shares will bear a
legend substantially as follows:

THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR QUALIFIED UNDER
ANY APPLICABLE STATE SECURITIES LAWS (THE "STATE ACTS"), HAVE BEEN ACQUIRED FOR
INVESTMENT AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED
EXCEPT PURSUANT TO A REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
QUALIFICATION UNDER THE STATE ACTS OR EXEMPTIONS FROM SUCH REGISTRATION OR
QUALIFICATION REQUIREMENTS (INCLUDING, IN THE CASE OF THE SECURITIES ACT, THE
EXEMPTIONS AFFORDED BY SECTION 4(1) OF THE SECURITIES ACT AND RULE 144
THEREUNDER). AS A PRECONDITION TO ANY SUCH TRANSFER, THE ISSUER OF THESE
SECURITIES SHALL BE FURNISHED WITH AN OPINION OF COUNSEL OPINING AS TO THE
AVAILABILITY OF EXEMPTIONS FROM SUCH REGISTRATION AND QUALIFICATION AND/OR SUCH
OTHER EVIDENCE AS MAY BE SATISFACTORY THERETO THAT ANY SUCH TRANSFER WILL NOT
VIOLATE THE SECURITIES LAWS.

                                      -3-
<PAGE>

      Buyer understands that the Shares are being sold to him pursuant to the
exemption from registration contained in Section 4(1) of the Securities Act and
that the Seller is relying upon the representations made herein as one of the
bases for claiming the Section 4(1) exemption.

      3.4 Liabilities. Following the Closing, Seller will have no liability for
any debts, liabilities or obligations of Leasco or its business or activities,
and there are no outstanding guaranties, performance or payment bonds, letters
of credit or other contingent contractual obligations that have been undertaken
by Seller directly or indirectly in relation to Leasco or its business and that
may survive the Closing.

      3.5 Title to Purchase Price Shares. Buyer is the sole record and
beneficial owner of the Purchase Price Shares. At Closing, Buyer will have good
and marketable title to the Purchase Price Shares, which Purchase Price Shares
are, and at the Closing will be, free and clear of all options, warrants,
pledges, claims, liens, and encumbrances and any restrictions or limitations
prohibiting or restricting transfer to Seller, except for restrictions on
transfer as contemplated by applicable securities laws.

IV. SELLER'S AND LEASCO'S REPRESENTATIONS AND WARRANTIES. Seller and Leasco,
jointly and severally, represent and warrant to Buyer that:

      4.1 Organization and Good Standing. Seller is a corporation duly
incorporated, validly existing, and in good standing under the laws of the State
of Nevada. Leasco is a corporation duly incorporated, validly existing and in
good standing under the laws of the State of Delaware.

      4.2 Authority and Enforceability. The execution and delivery of this
Agreement and the documents to be executed and delivered at the Closing pursuant
to the transactions contemplated hereby, and performance in accordance with the
terms hereof and thereof, have been duly authorized by Seller and all such
documents constitute the valid and binding agreements of Seller enforceable in
accordance with their terms.

      4.3 Title to Shares. Seller is the sole record and beneficial owner of the
Shares. At Closing, Seller will have good and marketable title to the Shares,
which Shares are, and at the Closing will be, free and clear of all options,
warrants, pledges, claims, liens and encumbrances, and any restrictions or
limitations prohibiting or restricting transfer to Buyer, except for
restrictions on transfer as contemplated by Section 3.3 above. The Shares
constitute all of the issued and outstanding shares of capital stock of Leasco.

      4.4 WARN Act. Leasco does not have a sufficient number of employees to
make it subject to the Worker Adjustment and Retraining Notification Act ("WARN
Act").

                                      -4-
<PAGE>

      4.5 Representations in Merger Agreement. Leasco represents and warrants
that all of the representations and warranties by Seller, insofar as they relate
to Leasco, contained in the Merger Agreement are true and correct.

V. OBLIGATIONS OF BUYER PENDING CLOSING. Buyer covenants and agrees that between
the date hereof and the Closing:

      5.1 Not Impair Performance. Buyer shall not take any intentional action
that would cause the conditions upon the obligations of the parties hereto to
effect the transactions contemplated hereby not to be fulfilled, including,
without limitation, taking or causing to be taken any action that would cause
the representations and warranties made by any party herein not to be true,
correct and accurate as of the Closing, or in any way impairing the ability of
Seller to satisfy its obligations as provided in Article VI.

      5.2 Assist Performance. Buyer shall exercise its reasonable best efforts
to cause to be fulfilled those conditions precedent to Seller's obligations to
consummate the transactions contemplated hereby which are dependent upon actions
of Buyer and to make and/or obtain any necessary filings and consents in order
to consummate the sale transaction contemplated by this Agreement.

VI. OBLIGATIONS OF SELLER PENDING CLOSING. Seller covenants and agrees that
between the date hereof and the Closing:

      6.1 Business as Usual. Leasco shall operate and Seller shall cause Leasco
to operate in accordance with past practices and shall use best efforts to
preserve its goodwill and the goodwill of its employees, customers and others
having business dealings with Leasco. Without limiting the generality of the
foregoing, from the date of this Agreement until the Closing Date, Leasco shall
(a) make all normal and customary repairs to its equipment, assets and
facilities, (b) keep in force all insurance, (c) preserve in full force and
effect all material franchises, licenses, contracts and real property interests
and comply in all material respects with all laws and regulations, (d) collect
all accounts receivable and pay all trade creditors in the ordinary course of
business at intervals historically experienced, and (e) preserve and maintain
Leasco's assets in their current operating condition and repair, ordinary wear
and tear excepted. Leasco shall not (i) amend, terminate or surrender any
material franchise, license, contract or real property interest, or (ii) sell or
dispose of any of its assets except in the ordinary course of business. Neither
Leasco nor Buyer shall take or omit to take any action that results in Seller
incurring any liability or obligation prior to or in connection with the
Closing.

      6.2 Not Impair Performance. Seller shall not take any intentional action
that would cause the conditions upon the obligations of the parties hereto to
effect the transactions contemplated hereby not to be fulfilled, including,
without limitation, taking or causing to be taken any action which would cause
the representations and warranties made by any party herein not to be materially
true, correct and accurate as of the Closing, or in any way impairing the
ability of Buyer to satisfy his obligations as provided in Article V.

                                      -5-
<PAGE>

      6.3 Assist Performance. Seller shall exercise its reasonable best efforts
to cause to be fulfilled those conditions precedent to Buyer's obligations to
consummate the transactions contemplated hereby which are dependent upon the
actions of Seller and to work with Buyer to make and/or obtain any necessary
filings and consents. Seller shall cause Leasco to comply with its obligations
under this Agreement.

VII. SELLER'S AND LEASCO'S CONDITIONS PRECEDENT TO CLOSING. The obligations of
Seller and Leasco to close the transactions contemplated by this Agreement are
subject to the satisfaction at or prior to the Closing of each of the following
conditions precedent (any or all of which may be waived by Seller and MMC in
writing):

      7.1 Representations and Warranties; Performance. All representations and
warranties of Buyer contained in this Agreement shall have been true and
correct, in all material respects, when made and shall be true and correct, in
all material respects, at and as of the Closing, with the same effect as though
such representations and warranties were made at and as of the Closing. Buyer
shall have performed and complied with all covenants and agreements and
satisfied all conditions, in all material respects, required by this Agreement
to be performed or complied with or satisfied by Buyer at or prior to the
Closing.

      7.2 Additional Documents. Buyer shall deliver or cause to be delivered
such additional documents as may be necessary in connection with the
consummation of the transactions contemplated by this Agreement and the
performance of their obligations hereunder.

      7.3 Release by Leasco. At the Closing, Leasco shall execute and deliver to
Seller and MMC a general release which in substance and effect releases Seller
and MMC from any and all liabilities and obligations that Seller and MMC may owe
to Leasco in any capacity and from any and all claims that Leasco may have
against Seller, MMC, or their respective managers, members, officers, directors,
stockholders, employees and agents (other than those arising pursuant to this
Agreement or any document delivered in connection with this Agreement).

VIII. BUYER'S CONDITIONS PRECEDENT TO CLOSING. The obligation of Buyer to close
the transactions contemplated by this Agreement is subject to the satisfaction
at or prior to the Closing of each of the following conditions precedent (any
and all of which may be waived by Buyer in writing):

      8.1 Representations and Warranties; Performance. All representations and
warranties of Seller and Leasco contained in this Agreement shall have been true
and correct, in all material respects, when made and shall be true and correct,
in all material respects, at and as of the Closing with the same effect as
though such representations and warranties were made at and as of the Closing.
Seller and Leasco shall have performed and complied with all covenants and
agreements and satisfied all conditions, in all material respects, required by
this Agreement to be performed or complied with or satisfied by them at or prior
to the Closing.

                                      -6-
<PAGE>

IX. OTHER AGREEMENTS.

      9.1 Expenses. Each party hereto shall bear its expenses separately
incurred in connection with this Agreement and with the performance of its
obligations hereunder.

      9.2 Confidentiality. The parties hereto shall not make any public
announcements concerning this transaction other than in accordance with mutual
agreement reached prior to any such announcement(s) and other than as may be
required by applicable law or judicial process. If for any reason the
transactions contemplated hereby are not consummated, then Buyer shall return
any information received by Buyer from Seller or Leasco, and Buyer shall cause
all confidential information obtained by Buyer concerning Leasco and its
business to be treated as such.

      9.3 Brokers' Fees. No party to this Agreement has employed the services of
a broker and each agrees to indemnify the other against all claims of any third
parties for fees and commissions of any brokers claiming a fee or commission
related to the transactions contemplated hereby.

9.4 Access to Information Post-Closing; Cooperation.

            (a) Following the Closing, Buyer and Leasco shall afford to Seller
      and its authorized accountants, counsel, and other designated
      representatives reasonable access (and including using reasonable efforts
      to give access to persons or firms possessing information) and duplicating
      rights during normal business hours to allow records, books, contracts,
      instruments, computer data and other data and information (collectively,
      "Information") within the possession or control of Buyer or Leasco insofar
      as such access is reasonably required by Seller. Information may be
      requested under this Section 9.4(a) for, without limitation, audit,
      accounting, claims, litigation and tax purposes, as well as for purposes
      of fulfilling disclosure and reporting obligations and performing this
      Agreement and the transactions contemplated hereby. No files, books or
      records of Leasco existing at the Closing Date shall be destroyed by Buyer
      or Leasco after Closing but prior to the expiration of any period during
      which such files, books or records are required to be maintained and
      preserved by applicable law without giving the Seller at least 30 days'
      prior written notice, during which time Seller shall have the right to
      examine and to remove any such files, books and records prior to their
      destruction.

            (b) Following the Closing, Seller shall afford to Leasco and its
      authorized accountants, counsel and other designated representatives
      reasonable access (including using reasonable efforts to give access to
      persons or firms possessing information) duplicating rights during normal
      business hours to Information within Seller's possession or control
      relating to the business of Leasco. Information may be requested under
      this Section 9.4(b) for, without limitation, audit, accounting, claims,
      litigation and tax purposes as well as for purposes of fulfilling
      disclosure and reporting obligations and for performing this Agreement and
      the transactions contemplated hereby. No files, books or records of Leasco
      existing at the Closing Date shall be destroyed by Seller after Closing
      but prior to the expiration of any period during which such files, books
      or records are required to be maintained and preserved by applicable law
      without giving the Buyer at least 30 days prior written notice, during
      which time Buyer shall have the right to examine and to remove any such
      files, books and records prior to their destruction.

                                      -7-
<PAGE>

            (c) At all times following the Closing, Seller, Buyer and Leasco
      shall use reasonable efforts to make available to the other party on
      written request, the current and former officers, directors, employees and
      agents of Seller or Leasco for any of the purposes set forth in Section
      9.4(a) or (b) above or as witnesses to the extent that such persons may be
      reasonably be required in connection with any legal, administrative or
      other proceedings in which Seller or Leasco may from time to be involved.

            (d) The party to whom any Information or witnesses are provided
      under this Section 9.4 shall reimburse the provider thereof for all
      out-of-pocket expenses actually and reasonably incurred in providing such
      Information or witnesses.

            (e) Seller, Buyer, Leasco and their respective employees and agents
      shall each hold in strict confidence all Information concerning the other
      party in their possession or furnished by the other or the other's
      representative pursuant to this Agreement with the same degree of care as
      such party utilizes as to such party's own confidential information
      (except to the extent that such Information is (i) in the public domain
      through no fault of such party or (ii) later lawfully acquired from any
      other source by such party), and each party shall not release or disclose
      such Information to any other person, except such party's auditors,
      attorneys, financial advisors, bankers, other consultants and advisors or
      persons with whom such party has a valid obligation to disclose such
      Information, unless compelled to disclose such Information by judicial or
      administrative process or, as advised by its counsel, by other
      requirements of law.

            (f) Seller, Buyer and Leasco shall each use their best efforts to
      forward promptly to the other party all notices, claims, correspondence
      and other materials which are received and determined to pertain to the
      other party.

      9.5 Guarantees, Surety Bonds and Letter of Credit Obligations. In the
event that Seller is obligated for any debts, obligations or liabilities of
Leasco by virtue of any outstanding guarantee, performance or surety bond or
letter of credit provided or arranged by Seller on or prior to the Closing Date,
Buyer and Leasco shall use best efforts to cause to be issued replacements of
such bonds, letters of credit and guarantees and to obtain any amendments,
novations, releases and approvals necessary to release and discharge fully
Seller from any liability thereunder following the Closing. Buyer and Leasco,
jointly and severally, shall be responsible for, and shall indemnify, hold
harmless and defend Seller from and against, any costs or losses incurred by
Seller arising from such bonds, letters of credits and guarantees and any
liabilities arising therefrom and shall reimburse Seller for any payments that
Seller may be required to pay pursuant to enforcement of its obligations
relating to such bonds, letters of credit and guarantees.

      9.6 Filings and Consents. Buyer, at its risk, shall determine what, if
any, filings and consents must be made and/or obtained prior to Closing to
consummate the purchase and sale of the Shares. Buyer shall indemnify the Seller
Indemnified Parties (as defined in Section 11.1 below) against any Losses (as
defined in Section 11.1 below) incurred by any Seller Indemnified Parties by
virtue of the failure to make and/or obtain any such filings or consents.
Recognizing that the failure to make and/or obtain any filings or consents may
cause Seller to incur Losses or otherwise adversely affect Seller, Buyer and
Leasco confirm that the provisions of this Section 9.6 will not limit Seller's
right to treat such failure as the failure of a condition precedent to Seller's
obligation to close pursuant to Article VII above.

                                      -8-
<PAGE>

      9.7 Insurance. Buyer acknowledges that on the Closing Date, effective as
of the Closing, all insurance coverage and bonds provided by Seller for Leasco,
and all certificates of insurance evidencing that Leasco maintains any required
insurance by virtue of insurance provided by Seller, will terminate with respect
to any insured damages resulting from matters occurring subsequent to Closing.

      9.8 Agreements Regarding Taxes.

            (a) Tax Sharing Agreements. Any tax sharing agreement between Seller
      and Leasco is terminated as of the Closing Date and will have no further
      effect for any taxable year (whether the current year, a future year, or a
      past year).

            (b) Returns for Periods Through the Closing Date. Seller will
      include the income and loss of Leasco (including any deferred income
      triggered into income by Reg. ss.1.1502-13 and any excess loss accounts
      taken into income under Reg. ss.1.1502-19) on Seller's consolidated
      federal income tax returns for all periods through the Closing Date and
      pay any federal income taxes attributable to such income. Seller and
      Leasco agree to allocate income, gain, loss, deductions and credits
      between the period up to Closing (the "Pre-Closing Period") and the period
      after Closing (the "Post-Closing Period") based on a closing of the books
      of Leasco and both Seller and Leasco agree not to make an election under
      Reg. ss.1.1502-76(b)(2)(ii) to ratably allocate the year's items of
      income, gain, loss, deduction and credit. Seller, Leasco and Buyer agree
      to report all transactions not in the ordinary course of business
      occurring on the Closing Date after Buyer's purchase of the Shares on
      Leasco's tax returns to the extent permitted by Reg.
      ss.1.1502-76(b)(1)(ii)(B). Buyer agrees to indemnify Seller for any
      additional tax owed by Seller (including tax owned by Seller due to this
      indemnification payment) resulting from any transaction engaged in by
      Leasco during the Pre-Closing Period or on the Closing Date after Buyer's
      purchase of the Shares. Leasco will furnish tax information to Seller for
      inclusion in Seller's consolidated federal income tax return for the
      period which includes the Closing Date in accordance with Leasco's past
      custom and practice.

            (c) Audits. Seller will allow Leasco and its counsel to participate
      at Leasco's expense in any audits of Seller's consolidated federal income
      tax returns to the extent that such audit raises issues that relate to and
      increase the tax liability of Leasco. Seller shall have the absolute
      right, in its sole discretion, to engage professionals and direct the
      representation of Seller in connection with any such audit and the
      resolution thereof, without receiving the consent of Buyer or Leasco or
      any other party acting on behalf of Buyer or Leasco, provided that Seller
      will not settle any such audit in a manner which would materially
      adversely affect Leasco after the Closing Date unless such settlement
      would be reasonable in the case of a person that owned Leasco both before
      and after the Closing Date. In the event that after Closing any tax
      authority informs the Buyer or Leasco of any notice of proposed audit,
      claim, assessment, or other dispute concerning an amount of taxes which
      pertain to the Seller, or to Leasco during the period prior to Closing,
      Buyer or Leasco must promptly notify the Seller of the same within 15
      calendar days of the date of the notice from the tax authority. In the
      event Buyer or Leasco does not notify the Seller within such 15 day
      period, Buyer and Leasco, jointly and severally, will indemnify the Seller
      for any incremental interest, penalty or other assessments resulting from
      the delay in giving notice. To the extent of any conflict or
      inconsistency, the provisions of this Section 9.8 shall control over the
      provisions of Section 11.2 below.

                                      -9-
<PAGE>

            (d) Cooperation on Tax Matters. Buyer, Seller and Leasco shall
      cooperate fully, as and to the extent reasonably requested by the other
      party, in connection with the filing of tax returns pursuant to this
      Section and any audit, litigation or other proceeding with respect to
      taxes. Such cooperation shall include the retention and (upon the other
      party's request) the provision of records and information which are
      reasonably relevant to any such audit, litigation or other proceeding and
      making employees available on a mutually convenient basis to provide
      additional information and explanation of any material provided hereunder.
      Leasco shall (i) retain all books and records with respect to tax matters
      pertinent to Leasco relating to any taxable period beginning before the
      Closing Date until the expiration of the statute of limitations (and, to
      the extent notified by Seller, any extensions thereof) of the respective
      taxable periods, and to abide by all record retention agreements entered
      into with any taxing authority, and (ii) give Seller reasonable written
      notice prior to transferring, destroying or discarding any such books and
      records and, if the Seller so requests, Buyer agrees to cause Leasco to
      allow Seller to take possession of such books and records.

      9.9 ERISA. Effective as of the Closing Date, Leasco shall terminate its
participation in, and withdraw from, all employee benefit plans sponsored by
Seller, and Seller and Buyer shall cooperate fully in such termination and
withdrawal. Without limitation, Leasco shall be solely responsible for (i) all
liabilities under those employee benefit plans notwithstanding any status as an
employee benefit plan sponsored by Seller, and (ii) all liabilities for the
payment of vacation pay, severance benefits, and similar obligations, including,
without limitation, amounts which are accrued but unpaid as of the Closing Date
with respect thereto. Buyer and Leasco acknowledge that Leasco is solely
responsible for providing continuation health coverage, as required under the
Consolidated Omnibus Reconciliation Act of 1985, as amended ("COBRA"), to each
person, if any, participating in an employee benefit plan subject to COBRA with
respect to such employee benefit plan as of the Closing Date, including, without
limitation, any person whose employment with Leasco is terminated after the
Closing Date.

                                      -10-
<PAGE>

X. TERMINATION. This Agreement may be terminated at, or at any time prior to,
the Closing by mutual written consent of Seller, Buyer and MMC.

      If this Agreement is terminated as provided herein, it shall become wholly
void and of no further force and effect and there shall be no further liability
or obligation on the part of any party except to pay such expenses as are
required of such party.

XI. INDEMNIFICATION.

      11.1 Indemnification by Buyer. Buyer covenants and agrees to indemnify,
defend, protect and hold harmless Seller, and its officers, directors,
employees, stockholders, agents, representatives and affiliates (collectively,
together with Seller, the "Seller Indemnified Parties") at all times from and
after the date of this Agreement from and against all losses, liabilities,
damages, claims, actions, suits, proceedings, demands, assessments, adjustments,
costs and expenses (including specifically, but without limitation, reasonable
attorneys' fees and expenses of investigation), whether or not involving a third
party claim and regardless of any negligence of any Seller Indemnified Party
(collectively, "Losses"), incurred by any Seller Indemnified Party as a result
of or arising from (i) any breach of the representations and warranties of Buyer
set forth herein or in certificates delivered in connection herewith, (ii) any
breach or nonfulfillment of any covenant or agreement (including any other
agreement of Buyer to indemnify Seller set forth in this Agreement) on the part
of Buyer under this Agreement, (iii) any debt, liability or obligation of
Leasco, (iv) the conduct and operations of the business of Leasco whether before
or after Closing, (v) claims asserted against Leasco whether before or after
Closing, or (vi) any federal or state income tax payable by Seller and
attributable to the transaction contemplated by this Agreement.

      11.2 Third Party Claims.

                  (a) Defense. If any claim or liability (a "Third-Party Claim")
            should be asserted against any of the Seller Indemnified Parties
            (the "Indemnitee") by a third party after the Closing for which
            Buyer has and Leasco (the "Indemnitor") within 20 days after the
            Third-Party Claim is asserted by a third party (said notification
            being referred to as a "Claim Notice") and give the Indemnitor a
            reasonable opportunity to take part in any examination of the books
            and records of the Indemnitee relating to such Third-Party Claim and
            to assume the defense of such Third-Party Claim and in connection
            therewith and to conduct any proceedings or negotiations relating
            thereto and necessary or appropriate to defend the Indemnitee and/or
            settle the Claim. The expenses (including reasonable attorneys'
            fees) of all negotiations, proceedings, contests, lawsuits or
            settlements with respect to any Third-Party Claim shall be borne by
            the Indemnitor. If the Indemnitor agrees to assume the defense of
            any Third-Party Claim in writing within 20 days after the Claim
            Notice of such Third-Party Claim has been delivered, through counsel
            reasonably satisfactory to Indemnitee, then the Indemnitor shall be
            entitled to control the conduct of such defense, and any decision to
            settle such Third-Party Claim, and shall be responsible for any
            expenses of the Indemnitee in connection with the defense of such
            Third-Party Claim so long as the Indemnitor continues such defense
            until the final resolution of such Third-Party Claim. The Indemnitor
            shall be responsible for paying all settlements made or judgments
            entered with respect to any Third-Party Claim the defense of which
            has been assumed by the Indemnitor. Except as provided on subsection
            (b) below, both the Indemnitor and the Indemnitee must approve any
            settlement of a Third Party Claim. A failure by the Indemnitee to
            timely give the Claim Notice shall not excuse Indemnitor from any
            indemnification liability except only to the extent that the
            Indemnitor is materially and adversely prejudiced by such failure.

                                      -11-
<PAGE>

                  (b) Failure to Defend. If the Indemnitor shall not agree to
            assume the defense of any Third-Party Claim in writing within 20
            days after the Claim Notice of such Third-Party Claim has been
            delivered, or shall fail to continue such defense until the final
            resolution of such Third-Party Claim, then the Indemnitee may defend
            against such Third-Party Claim in such manner as it may deem
            appropriate and the Indemnitee may settle such Third-Party Claim on
            such terms as it may deem appropriate. The Indemnitor shall promptly
            reimburse the Indemnitee for the amount of all settlement payments
            and expenses, legal and otherwise, incurred by the Indemnitee in
            connection with the defense or settlement of such Third-Party Claim.
            If no settlement of such Third-Party Claim is made, then the
            Indemnitor shall satisfy any judgment rendered with respect to such
            Third-Party Claim before the Indemnitee is required to do so, and
            pay all expenses, legal or otherwise, incurred by the Indemnitee in
            the defense against such Third-Party Claim.

      11.3 Non-Third-Party Claims. Upon discovery of any claim for which Buyer
has an indemnification obligation under the terms of Section 11.3 which does not
involve a claim by a third party against the Indemnitee, the Indemnitee shall
give prompt notice to Buyer of such claim and, in any case, shall give Buyer
such notice within 30 days of such discovery. A failure by Indemnitee to timely
give the foregoing notice to Buyer shall not excuse Buyer from any
indemnification liability except to the extent that Buyer is materially and
adversely prejudiced by such failure.

      11.4 Survival. Except as otherwise provided in this Section 11.4, all
representations and warranties made by Buyer, Leasco and Seller in connection
with this Agreement shall survive the Closing. Anything in this Agreement to the
contrary notwithstanding, the liability of all Indemnitors under this Article XI
shall terminate on the third (3rd) anniversary of the Closing Date, except with
respect to (a) liability for any item as to which, prior to the third (3rd)
anniversary of the Closing Date, any Indemnitee shall have asserted a Claim in
writing, which Claim shall identify its basis with reasonable specificity, in
which case the liability for such Claim shall continue until it shall have been
finally settled, decided or adjudicated, (b) liability of any party for Losses
for which such party has an indemnification obligation, incurred as a result of
such party's breach of any covenant or agreement to be performed by such party
after the Closing, (c) liability of Buyer for Losses incurred by a Seller
Indemnified Party due to breaches of their representations and warranties in
Article III of this Agreement, and (d) liability of Buyer for Losses arising out
of Third-Party Claims for which Buyer has an indemnification obligation, which
liability shall survive until the statute of limitation applicable to any third
party's right to assert a Third-Party Claim bars assertion of such claim.

                                      -12-
<PAGE>

XII. MISCELLANEOUS.

      12.1 Notices. All notices and communications required or permitted
hereunder shall be in writing and deemed given when received by means of the
United States mail, addressed to the party to be notified, postage prepaid and
registered or certified with return receipt requested, or personal delivery, or
overnight courier, as follows:

            (a)   If to Seller, addressed to:

                           26 Broadway, Suite 907
                           New York, NY 10004
                           Attn: Karl W. Miller, Chief Executive Officer
                           Facsimile: (212) 785-7640

            With a copy to (which shall not constitute notice hereunder):

                           McGuireWoods LLP
                           1345 Avenue of the Americas
                           New York, NY 10105
                           Attn: Louis W. Zehil, Esq.
                           Facsimile: (212) 548-2175

            (b)   If to Buyer or Leasco, addressed to:

                           Brent Peters
                           747 17th Street, Suite 301
                           West Vancouver. B.C., Canada V7V 3T4
                           Facsimile: (604) 922-8993

            With a copy to (which shall not constitute notice hereunder):

                           Gottbetter & Partners, LLP
                           488 Madison Avenue, 12th Floor
                           New York, New York 10022
                           Attention:  Adam S. Gottbetter, Esq.

            (c)   If to MMC, addressed to:

                           MMC Energy North America, LLC
                           26 Broadway, Suite 907
                           New York, NY 10004
                           Attn: Karl W. Miller, Chief Executive Officer
                           Facsimile: (212) 785-7640

                                      -13-
<PAGE>

            With a copy to (which shall not constitute notice hereunder):

                           McGuireWoods LLP
                           1345 Avenue of the Americas
                           New York, NY 10105
                           Attn: Louis W. Zehil, Esq.
                           Facsimile: (212) 548-2175

or to such other address as any party hereto shall specify pursuant to this
Section 12.1 from time to time.

      12.2 Exercise of Rights and Remedies. Except as otherwise provided herein,
no delay of or omission in the exercise of any right, power or remedy accruing
to any party as a result of any breach or default by any other party under this
Agreement shall impair any such right, power or remedy, nor shall it be
construed as a waiver of or acquiescence in any such breach or default, or of
any similar breach or default occurring later; nor shall any waiver of any
single breach or default be deemed a waiver of any other breach or default
occurring before or after that waiver.

      12.3 Time. Time is of the essence with respect to this Agreement.

      12.4 Reformation and Severability. In case any provision of this Agreement
shall be invalid, illegal or unenforceable, it shall, to the extent possible, be
modified in such manner as to be valid, legal and enforceable but so as to most
nearly retain the intent of the parties, and if such modification is not
possible, such provision shall be severed from this Agreement, and in either
case the validity, legality and enforceability of the remaining provisions of
this Agreement shall not in any way be affected or impaired thereby.

      12.5 Further Acts. Seller, Buyer and Leasco shall execute any and all
documents and perform such other acts which may be reasonably necessary to
effectuate the purposes of this Agreement.

      12.6 Entire Agreement; Amendments. This Agreement contains the entire
understanding of the parties relating to the subject matter contained herein.
This Agreement cannot be amended or changed except through a written instrument
signed by all of the parties hereto, including MMC. No provisions of this
Agreement or any rights hereunder may be waived by any party without the prior
written consent of MMC.

      12.7 Assignment. No party may assign his or its rights or obligations
hereunder, in whole or in part, without the prior written consent of the other
parties.

      12.8 Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York, without giving effect to
principles of conflicts or choice of laws thereof.

      12.9 Counterparts. This Agreement may be executed in one or more
counterparts, with the same effect as if all parties had signed the same
document. Each such counterpart shall be an original, but all such counterparts
taken together shall constitute a single agreement. In the event that any
signature is delivered by facsimile transmission, such signature shall create a
valid and binding obligation of the party executing (or on whose behalf such
signature is executed) the same with the same force and effect as if such
facsimile signature page was an original thereof.

                                      -14-
<PAGE>

      12.10 Section Headings and Gender. The Section headings used herein are
inserted for reference purposes only and shall not in any way affect the meaning
or interpretation of this Agreement. All personal pronouns used in this
Agreement shall include the other genders, whether used in the masculine,
feminine or neuter, and the singular shall include the plural, and vice versa,
whenever and as often as may be appropriate.

      12.11 Specific Performance; Remedies. Each of Seller, Buyer and Leasco
acknowledges and agrees that MMC would be damaged irreparably if any provision
of this Agreement is not performed in accordance with its specific terms or is
otherwise breached. Accordingly, each of Seller, Buyer and Leasco agrees that
MMC will be entitled to seek an injunction or injunctions to prevent breaches of
the provisions of this Agreement and to enforce specifically this Agreement and
its terms and provisions in any action instituted in any court of the United
States or any state thereof having jurisdiction over the parties and the matter,
subject to Section 12.8, in addition to any other remedy to which they may be
entitled, at law or in equity. Except as expressly provided herein, the rights,
obligations and remedies created by this Agreement are cumulative and in
addition to any other rights, obligations or remedies otherwise available at law
or in equity, and nothing herein will be considered an election of remedies.

      12.12 Submission to Jurisdiction; Process Agent; No Jury Trial.

            (a) Each party to the Agreement hereby submits to the jurisdiction
      of any state or federal court sitting in the State of New York, in any
      action arising out of or relating to this Agreement and agrees that all
      claims in respect of the action may be heard and determined in any such
      court. Each party to the Agreement also agrees not to bring any action
      arising out of or relating to this Agreement in any other court. Each
      party to the Agreement agrees that a final judgment in any action so
      brought will be conclusive and may be enforced by action on the judgment
      or in any other manner provided at law or in equity. Each party to the
      Agreement waives any defense of inconvenient forum to the maintenance of
      any action so brought and waives any bond, surety, or other security that
      might be required of any other Party with respect thereto.

            (b) EACH PARTY TO THE AGREEMENT HEREBY AGREES TO WAIVE HIS OR HER
      RIGHTS TO JURY TRIAL OF ANY DISPUTE BASED UPON OR ARISING OUT OF THIS
      AGREEMENT OR ANY OTHER AGREEMENTS RELATING TO THE SUBJECT MATTER OF THIS
      AGREEMENT OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS
      CONTEMPLATED HEREBY. The scope of this waiver is intended to be all
      encompassing of any and all actions that may be filed in any court and
      that relate to the subject matter of the transactions, including, contract
      claims, tort claims, breach of duty claims, and all other common law and
      statutory claims. Each party to the Agreement hereby acknowledges that
      this waiver is a material inducement to enter into a business relationship
      and that they will continue to rely on the waiver in their related future
      dealings. Each party to the Agreement further represents and warrants that
      it has reviewed this waiver with its legal counsel, and that each
      knowingly and voluntarily waives its jury trial rights following
      consultation with legal counsel. NOTWITHSTANDING ANYTHING TO THE CONTRARY
      HEREIN, THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED
      ORALLY OR IN WRITING, AND THE WAIVER WILL APPLY TO ANY AMENDMENTS,
      RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER
      DOCUMENTS OR AGREEMENTS RELATING HERETO. In the event of commencement of
      any action, this Agreement may be filed as a written consent to trial by a
      court.

                                      -15-
<PAGE>

      12.13 Construction. The parties hereto have participated jointly in the
negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted
jointly by the parties hereto and no presumption or burden of proof will arise
favoring or disfavoring any party because of the authorship of any provision of
this Agreement. Any reference to any federal, state, local, or foreign law will
be deemed also to refer to law as amended and all rules and regulations
promulgated thereunder, unless the context requires otherwise. The words
"include," "includes," and "including" will be deemed to be followed by "without
limitation." The words "this Agreement," "herein," "hereof," "hereby,"
"hereunder," and words of similar import refer to this Agreement as a whole and
not to any particular subdivision unless expressly so limited. The parties
hereto intend that each representation, warranty, and covenant contained herein
will have independent significance. If any party hereto has breached any
representation, warranty, or covenant contained herein in any respect, the fact
that there exists another representation, warranty or covenant relating to the
same subject matter (regardless of the relative levels of specificity) which
that party has not breached will not detract from or mitigate the fact that such
party is in breach of the first representation, warranty, or covenant.

                       [Signature page follows this page.]

                                      -16-
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have hereunto set their hands as of
the day and year first above written.

                                       MMC ENERGY, INC.

                                       By: /s/ Brent Peters
                                          --------------------------------------
                                       Name:  Brent Peters
                                       Title: Chief Executive Officer

                                       HIGH TIDE LEASCO, INC.

                                       By: /s/ Brent Peters
                                          --------------------------------------
                                       Name:  Brent Peters
                                       Title  Chief Executive Officer

                                       BUYERS

                                       /s/ Douglas Smith
                                       -----------------------------------------
                                       Douglas Smith

                                       /s/ Brent Peters
                                       -----------------------------------------
                                       Brent Peters

                                       MMC ENERGY NORTH AMERICA, LLC

                                       By: /s/ Karl W. Miller
                                          --------------------------------------
                                       Name:  Karl W. Miller
                                       Title: Chief Executive Officer

                                      -17-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00104-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00104-of-00352.parquet"}]]