Document:

Exhibit 10.79

Exhibit 10.79

FOOD PREPARATION AGREEMENT

BETWEEN

LINDLEY FOOD SERVICE CORPORATION

AND

SUBURBAN BOSTON CONSORTIUM OF ELDER NUTRITION PROGRAMS

THIS AGREEMENTis made and entered into this day by and between SUBURBAN BOSTON  CLIENT of ELDER NUTRITION PROGRAMS (the “Consortium”), whose Members are
(1)  Mystic Valley Elder Services, Inc., 300 Commercial Street, Malden, MA 02148 (2) Somerville-Cambridge Elder Services, Inc., 61 Medford Street, Somerville, MA 02143 and (3) Springwell, Inc., 125 Walnut Street, Watertown, MA 02472, hereinafter called the
"Client", and HOST AMERICA/LINDLEY FOOD SERVICE CORPORATION INC.,  a corporation with its office and place of business at Two Broadway, Hamden, CT 06518-2697, hereinafter called "HOST".

W I T N E S S E T H;

The parties agree and obligate themselves and successors and assigns as follows:

1.  Term:  The term of this Agreement shall commence on the 1st day of October, 2004, and shall continue until the 30th day of
September, 2007.  This Agreement may be extended up to two (2) additional one year periods, upon mutual agreement between Host and the Client.

2.  Termination:  The Client may terminate this Agreement with or without cause following the terms outlined in the “Bid Specifications Suburban
Boston Consortium of Elder Nutrition Programs 2004 – 2007” otherwise known as the “RFP” (exhibit A). 

If the Client, in exercising its reasonable business judgment, determines that any non-compliance by Host with terms of this Agreement endangers the life, health, and safety of any recipients of services provided under this
Agreement, then the Client may terminate this Agreement immediately by notifying Host as follows:

Step #1: Oral notice to the President of Host indicating that Lindley has not complied with the terms of the Agreement and such non-compliance has endangered the life, health or safety of the recipients of services under the
Agreement along with a similar written notice sent by facsimile to the President of Host and;

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Step #2: Within three (3) business days of the notice in step #1, Client shall send written notice to Host's President detailing the exact nature of the non-compliance, and how it has endangered the life, health or safety of
the recipients. 

3.  Notice:  Any notice required or permitted to be given shall be in writing and shall be mailed by certified mail or personally delivered. A notice shall
be deemed to be given three (3) days after it is mailed or upon receipt if personally delivered. Any notice to Host shall be addressed to: Attn: President, Host America Corporation, Two Broadway, Hamden, CT 06519-2697; and in the case of the Client to: Suburban
Boston Consortium, c/o Executive Director, Mystic Valley Elder Services, 300 Commercial Street #19, Malden, MA 02148.  Either party may change its address by giving ten (10) days written notice to the other party.

4.  Exclusive Right:  Host shall have the exclusive right to provide the services called for by this Agreement during the term of this Agreement.

5.  Obligations of Host:  Host shall be responsible for the preparation of meals including: (a.) providing and maintaining a production kitchen and
equipment for the preparation of meals (the "Food Preparation Facilities");  (b.) maintaining the Food Preparation Facilities in a sanitary condition;  (c.) performing all buying and record keeping functions; (d.) employing and training of food service
employees;  (e.) furnishing supervisory personnel to establish and maintain the operation at a high standard;    (f.) instituting reliable food cost control methods;  (g.) providing for any and all real or personal property tax or similar tax
related to the Food Preparation Facilities; (h.) maintaining adequate fire and hazard insurance on the Food Preparation Facilities; and (i)  compliance with the terms and specifications of that certain Request for Proposal entitled "Bid Specifications Suburban
Boston Consortium of Elder Nutrition Programs Fiscal Years 2004 –2007 (the “RFP”) to the extent those terms are not inconsistent with the terms of this Agreement and  (j) for compliance with the terms and specifications as set forth in the
Lindley Food Service Bid Response forSuburban Boston Consortium of Elder Nutrition Programs Fiscal Years 2005 –2007.

6.  Obligations of the Client:  The Client shall be responsible for:  (a.) providing and maintaining sites and personnel for the serving of meals (the
"Serving Sites"); (b.) maintaining the Serving Sites in a sanitary condition;   (c.) maintaining the Serving Sites in accordance with all laws, regulations, orders, directives, statutes, and other rules of any federal, state, or local government bureau or
department applicable to the Serving Sites; (d.)  maintaining Host's equipment located at the Serving Sites, if any;  (e.) serving the meals at the Serving Sites; (f.) maintaining adequate fire and hazard insurance on the Serving Sites; and (g.)
administering the nutrition services in compliance with all rules and regulations of the U.S. Department of Health and Human Services (HHS).

6a.  Tax Exempt Status:  The Client will submit to Host proof of its tax-exempt status prior to (or simultaneous with) the execution of this
Agreement.

7.  Client's Right to Inspect:  Host shall operate the Food Preparation Facilities in a manner compliant with the terms and conditions of the RFP.  The
Client shall have the right to inspect the Food Preparation Facilities at any time.

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8.  Compliance with Regulations:  Each party shall comply with all laws, ordinances, regulations, orders, directives, statutes, and other rules of any
federal, state, or local government bureau or department applicable to their activities hereunder.

Host's employees and agents shall also comply with applicable rules and regulations concerning conduct on the Client's premises which the Client imposes upon its employees and agents provided such rules and/or regulations are
not in violation of any federal, state, and/or local laws.

9.  Ownership of Inventory:  Lindley shall maintain title to all inventories purchased by Host.

10.  Proprietary Information:  During the term of this Agreement, the Client acknowledges that it may acquire or obtain access to proprietary information or
materials (the "Proprietary Items") of Lindley.  Proprietary Items are defined as confidential information or materials related to the business of Lindley which include, but are not limited to, trade secrets, signage, trademarks, logo, trade dress (including
product package design), symbols, slogan emblem, computer software, recipes, diet manuals, videotapes, technical and non-technical data related to the operations, methods, techniques, processes, finances, existing and future products, actual or potential customers
and suppliers, procedure and/or personnel manuals, and any information which has been disclosed to Lindley by a third party which Lindley is obligated to treat as confidential.

All Proprietary Items are confidential to and are and will remain the sole and exclusive property of Host.  In the event the Client receives, obtains access, or otherwise is exposed to any Proprietary Items, the Client
will and shall cause its officers, employees, and agents to, (a.) hold the Proprietary Items in trust and in strictest confidence, (b.) not produce, use, distribute or otherwise disseminate the Proprietary Items except to the extent necessary to aid the performance
of the services provided by Host, and (c.) otherwise protect the Proprietary Items from disclosure.

Upon request by Lindley and/or termination of this Agreement, the Client shall return all property belonging to Lindley, including without limitation, all tangible materials (originals or copies) containing or embodying
Proprietary Items then in its custody, control, or possession.

11.  Insurance:  Host shall maintain Workers' Compensation Insurance and Employers Liability covering Host's employees with limits of $100,000 per accident,
$100,000 per disease, and disease aggregate of $500,000.

Host shall maintain Comprehensive General Liability with limits of $1,000,000 General Aggregate, $1,000,000 Products and Completed Operations, $1,000,000 Personal Injury, and $1,000,000 each occurrence.

Host shall maintain Comprehensive Automobile Insurance covering Host's vehicles with limits of $1,000,000 Combined Single Limit.  Host will provide six (6) 12 foot box trucks and one (1) back up van for the
program.

Host shall cause certificates of insurance to remain current and delivered to the Client.

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12.  Indemnity:   The Client hereby releases, indemnifies and agrees to hold Host harmless from and against any loss,
liability claims, damages, costs, and expenses, including without limitation attorney’s fees asserted by any third party for claims or actions solely arising out of or as a result of the Clients negligence.

Host will indemnify and hold Client harmless form loss, damage or liability solely and directly arising from negligent acts of omissions of Host’s employees, contractors, or agency only when engaged in operation under
this Agreement.

13.  Relationship of the Parties:  Host shall at all time act as an independent contractor.  No employee of Host shall be deemed an employee of the
Client, and no employee of the Client shall be deemed an employee of Host.  Host and the Client shall have full responsibility for payment of wages and compensation to their respective employees and for compliance with all applicable federal and state payroll
tax requirements with respect to their respective employees.  Host shall be solely responsible for the supervision of its employees in accordance with Equal Opportunity Laws, Executive Orders, and Lindley and/or Client policies and procedures.  Host shall
have sole control of the manner and means of performing its obligations hereunder.

14.  Equal Opportunity Employment:  In the performance of this Agreement, neither party shall discriminate against any employee or applicant for employment
because of race, color, religion, sex, national origin, or age, nor shall either party discriminate against the handicapped, disabled, or veterans, including those of the Vietnam era.  Lindley shall take affirmative action to insure that, to the extent possible,
eligible persons are employed, and that employees are treated, during employment, without discrimination because of their race, color, religion, sex, national origin, age, handicap, disability, or veteran status, including veterans of the Vietnam era.

15.  Non-Solicitation of Employees by Client:  It is understood that the employees of Host who will supervise the operation of the Food Preparation
Facilities have been recruited and trained by Host at substantial expense.  The Client shall not hire directly or indirectly, or offer employment to, or allow any other entity or concern over which it has any control to hire or offer employment to any such
employee of Host in the operation of any Food Preparation Facilities during the term of this Agreement or for one (1) year thereafter, unless such employees were former employees of the Client. Host may proceed to enjoin such unauthorized employment.  If legal
action is necessary to enforce this provision or to collect damages, Host shall be entitled to recover all legal expenses, including reasonable attorney's fee.

16.  Non-Solicitation of Employees by Host:  It is understood that the employees of the Client have been recruited and trained by Client at substantial
expense.  Lindley shall not hire directly or indirectly, or offer employment to, or allow any other entity or concern over which it has any control to hire or offer employment to any such employee of the Client during the term of this Agreement or for one (1)
year thereafter, unless such employees were former employees of the Host. Client may proceed to enjoin such unauthorized employment.  If legal action is necessary to enforce this provision or to collect damages, Client shall be entitled to recover all legal
expenses, including reasonable attorney's fee.

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17.  Force Majeure:  In the event of a business interruption other than that caused by Host, the Client shall be entitled to extend to Lindley the term of
this Agreement by as many days as are involved in the business interruption.  Should there be such business interruption, this Agreement shall be renegotiated immediately and such renegotiated Agreement shall last the duration of the business interruption. 
The definition of business interruption will include, but is not limited to, war, public disorders, acts of enemies, sabotage, strikes, lockouts, picketing, labor difficulties, fires, uncompleted construction or acts of God only if not preventable, or any similar or
dissimilar cause beyond the control of either party.

18.  Event of Default and Remedies:  In the event either party defaults in the performance of its obligations under this Agreement and such default is not
cured within ten (10) business days of the receipt of written notice thereof, the non-defaulting party shall have the right, in addition to any other rights it may have, to terminate this Agreement without further notice.  If the nature of the default is such
that it may not be reasonably cured within ten (10) business days, the defaulting party shall not be in default if appropriate cure is commenced within ten business (10) days and thereafter a cure is reasonably prosecuted to completion.

19.  Assignment:  Neither Host nor the Client may assign or transfer this Agreement in whole or in part without the written consent of the other
party.  Such consent shall not be unreasonably withheld.

20.  Method of Operation:  Host shall prepare and deliver meals (including therapeutic and weekend meals) for the Client's distribution to the following
locations:

            - Serving Sites

            - Designated points of delivery for the home-delivered meals (the "Delivery Points").

The respective three (3) Client members will furnish Host with final meal counts for regular meals including congregate, home delivered, home delivered and congregate cold suppers, home delivered breakfast, frozen, holiday,
and weekend meals by 2:00 p.m. of the day prior to meal service.  Ordinarily, the members will furnish these counts no earlier than 12:45 of the day prior to regular meal service.

Upon delivery of meals to each Serving Site or Delivery Point, an authorized on-site representative (if present) of the Client shall sign a meal delivery ticket in duplicate certifying the number, types, quantity of meals and
supplies, if applicable, delivered.  One copy shall be returned to Lindley's employee delivering the meals, and a copy shall be retained by the Client's representative.  Such meal delivery ticket shall be the controlling document in the event of disputes
over the number of meals delivered.

In the event that an authorized on-site representative of the Client is not present upon the delivery of the meals to the Serving Site or Delivery Point, then upon arrival the on-site representative will sign the meal delivery
ticket in duplicate certifying the number, types, and quantity of meals and supplies, if applicable, delivered.  The on-site representative will then leave one copy for Host's employee to pick up the next time he or she delivers meals to such Serving Site or
Delivery Point, and a copy shall be retained by the Client's representative.

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21.  Days of Operation:  Meals shall be prepared five (5) days a week for the term of this Agreement, except designated holidays.

22.  Obligations of Host:  Host will deliver all congregate meals and home delivered meals to the designated sites as specified in the terms of the
Client’s Bid Specifications

Host will provide special event meals as requested, provided Host is given one (1) week’s advance notice of the requirement for such meals.

Host will deliver and maintain while in Lindley's possession food according to the following specifications:

            - Hot foods will be at or above 140 degrees Fahrenheit.

            - Cold foods will be at or below 40 degrees Fahrenheit.

            - Frozen foods will be at or below 0 degrees Fahrenheit.

            - Neutral foods will be at room temperature.

Host will prepare a monthly holiday/special events menu for each Serving Site on such days as are determined by mutual agreement between Lindley and the Client.

23.  Menus:  All meals shall meet or exceed the one-third daily Recommended Dietary Allowance for person’s age fifty-one (51) and over as established
by the Food and Nutrition Board of the National Academy of Science National Research Council.  Meals will also meet the nutrition standards set forth by the Massachusetts Executive Office of Elder Affairs.  Menus will be planned by both parties and for
3-month periods of time.

24.  Charges:  In consideration for meals and services provided to the Client, Host will charge the Client the Contract Rate as detailed in the “Meal
Pricing” & “Menu Cost Analysis” sections of Lindley’s Bid proposal response for the Suburban Boston Consortium of Elder Nutrition Program, Fiscal Years 2005 – 2007 hereafter known as Appendix B. (see attachment of pages noted
in proposal as “Appendix 8” and “Appendix 6”) These categories include meal cost analysis for: Regular Hot Congregate, Hot Home Delivered, Cold Supper, Cold Breakfast, Therapeutic Hot Home Delivered, Ethnic, HDM Cold Pack only, Kosher Meal
cost, Frozen Handling Fee and Disposable Fee.

Meal pricing is volume driven based on the total number of meals ordered daily form the Everett commissary kitchen regardless of Senior Meal contract type.   For example, the total number of meals ordered daily for
the Suburban Boston Consortium and North Shore Consortium will drive the category used for meal price.  It total meal count for both Consortiums is> 4600, the congregate rate is$2.77 (2.73 with quick pay discount) and HDM rate is $3.00 (2.955 with quick pay
discount).

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The Client is responsible for payment of paper and disposables at Host’s cost for all meals produced for the life of the contract.  Host will purchase these disposables through the Massachusetts Paper Client vendor
(currently Mansfield Paper, Inc), for which the Client is a member.  Disposable / paper usage and cost will be broken down and listed directly onto each individual agency weekly invoice.  Host will be responsible for receiving and disbursing paper products
ordered for congregate meal sites by the Consortium.  Currently SCES and Springwell use this system.  If Host has access to paper products at a lesser cost hat the specified products that the Client uses through Massachusetts Paper Consortium Vendor, Host
must obtain prior approval by the Client so use these products.

25.  Meal Shortages:  In the event Host fails to deliver meals or portions of meals, or Host delivers food that is unwholesome, fails to meet
specifications, or has been substituted without prior approval, the Client's representative shall note all discrepancies on the meal delivery ticket and the following procedures shall apply:

A.  Alternate Vendor Procedures:  The Client's representative shall procure the necessary items from an alternate vendor.  Host will be responsible for
establishing appropriate alternate vendors in the local area.  All meals or portions of meals procured from alternate vendors must meet the one-third (1/3) Recommended Dietary Allowance.

Host will be responsible for alternate vendor bills.  Supporting documentation must be submitted to Host for all such payments.  The Client will submit to Lindley all requests for alternate vendor payments within
thirty (30) days of occurrence.

B.  Meal Credits:  When meals or portions of meals cannot be replaced using an alternate vendor, Host will issue a credit to the Client based on the
following allocation:

	
  

	
               

	
Percentage of

	
Food Grouping

		
Meal Cost

	
Meat or Meat Alternative

		
41%

	
Fruit/Salad

		
15%

	
Milk

		
15%

	
Vegetable or Soup

		
10%

	
Dessert (other than fruit)

		
10%

	
Bread or Bread Alternative

		
  5%

	
Margarine

		
  2%

	
Condiments

		
  2%

Credits will be deducted from the Client's invoice.

The Client will submit to Host all requests for credits within thirty (30) days of occurrence.

26.  Closings:  In the event the Client and/or the State or local government permanently closes a Serving Site/Delivery Point, the Client shall notify Host
of the closing five (5) working days in advance.  If five (5) working days notice is not provided, the Client shall pay for the normal number of meals served at such closed Serving Site/Delivery Point, or accept menu substitutions which will allow Host to
utilize food products which were purchased for the closed day.

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In the event the Client and/or the State or local government temporarily closes a Serving Site/Delivery Point, the Client shall notify Host of the closing two (2) working days in advance.  If two (2) working days notice
is not provided, the Client shall pay for the normal number of meals ordered for such closed Serving Site/Delivery Point, or accept menu substitutions which will allow Lindley to utilize food products which were purchased for the closed day.

In the event a Serving Site/Delivery Point is closed due to inclement weather, acts of God, and/or other unforeseen emergencies, the Client shall not be responsible for payment for food to be delivered on said day if notice
has been given to Lindley by 7:00 a.m. of the serving day.  If necessary under these circumstances, Host may make menu substitutions on the following serving day, which shall be reported to the Client as soon as possible.

In the event inclement weather or any other act of God is predicted, Lindley may consult with the Client to determine if shelf-stable meals should be sent the day or days before such event is predicted to occur.

27.  Billing and Payment:  On or before the fifth (5th) day of each week, Host will bill the three (3) Consortium member agencies for the preceding week's
charges.  Additionally Host will submit a monthly account receivable (A/R) statement to each member, pertaining to each members A/R aging.

Payments made by the Client to Host are due within thirty (30) days from invoice date. If payment is not made forty-five (45) days from invoice date, the price of all meals on such overdue invoice will be increased by three
($.03) cents.  A quick pay discount of 1.5% will be offered on all invoices paid within seven (7) days of invoice date and 1.25% discount will be offered on all invoices paid fourteen (14) days of invoice date.   This is detailed in the “Meal
Cost” & “Menu Cost Analysis” sections of Lindley’s Bid Proposal response for Suburban Boston Consortium of Elder Nutrition Programs Fiscal Years 2005 – 2007; Appendix B (see attachment of pages noted in proposal as “Appendix
8” and “Appendix 6”).  These categories include meal cost analysis for: Regular Host Congregate, Hot Home Delivered, Cold Supper, Cold Breakfast, Therapeutic Hot Home Delivered, Kosher, & HDM Cold Pack.

28.  Maintenance of Records:  Host shall maintain records for a minimum of six (6) years after the end of the federal year to which they pertain unless
litigation, claim, or audit is started before the end of the six (6) year period, in which case the records shall be retained until all litigation, claim, or audit finding involving the records has been resolved.

29.  Client's Right to Audit:  The Client reserves the right to audit records pertaining to Host’s operation of the Food Preparation Operation of the
Client.  The cost of such audit will be at the sole expense of the Client and shall be conducted at Host's location where said records are normally maintained upon reasonable notice.

30.  Arbitration:  Governing Law, Venue:  Any controversy or claim greater than $10,000 arising out of or relating to this Agreement or the breach
thereof shall be resolved by arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules,

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and shall be binding on all parties.  Any controversy or claim less than $10,000 may be heard either in a court of law or, as with claims in excess of $10,000, resolved by arbitration.

The parties mutually agree that the proper locale for any such arbitration proceeding shall be Boston, MA.  Any judicial proceeding filed by either party to enforce the terms of this Agreement shall be held in either
Federal District Court for Massachusetts or the Massachusetts Superior Court or District Court located in Middlesex County, MA.  Any claim or controversy arising out of this Agreement, regardless of whether heard by a judge or by an arbitrator, shall be governed
by the laws of the Commonwealth of Massachusetts without regard to any principles of conflicts of laws.

31.  Headings and Captions:  All headings and captions appearing in this Agreement are inserted for purposes of convenience and reference only, and shall
not be used to construe or interpret any provision hereof.

32.  Severability:  If any term, covenant, or condition of this Agreement or the application thereof to any person or circumstance shall be invalid or
unenforceable, the remainder of this Agreement and the application of any term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby, and all other terms shall be valid and enforceable
to the fullest extent permitted by the law.

33.  Waiver of Contractual Right:  The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver or limitation
of that party’s right to subsequently enforce and compel strict compliance with every provision of this Agreement. 

34.  Equipment:  The Client will maintain ownership of all delivery equipment transferred to the Lindley facility on or before October 1, 2004 and any
equipment purchased by the Client for the duration of the contract.  Delivery Equipment includes but is not limited to the following: Cambro-Camcarriers, Cambro-Soup Containers, Coolers, Nutra-Systems, Insulated Soft Bags, Hotel Pans and Covers, Warming Ovens
Cambro Dollies.

35.  Entire Agreement; Modification:  This Agreement, and the Consortium RFP  (attached hereto as Exhibit “A”) set forth the entire
agreement of the parties with respect to the subject matter hereof, and supercede all existing written or oral agreements between these parties concerning such subject matters.  In the event of any conflict between this Agreement, the Consortium RFP, the
provisions of this Agreement shall control.

36.  Authority:  Lindley and the Client each represent that the person executing this Agreement on its behalf, in duplicate, has been duly and validly
authorized to execute this Agreement on its behalf and that such person has full power and authority under all applicable laws and their respective articles of incorporation, bylaws or other governing instrument to enter into this Agreement.

(The remainder of this page has been intentionally left blank))

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HOST AMERICA, INC.

	
          

	
SUBURBAN BOSTON CONSORTIUM

	
                                                                             

		
                                                                             

	
 

		
 

	
 

		
 

	
By:   /s/ Gill
Rossomando                             

		
Mystic Valley Elder Services, Inc.

			
 

	
Title:  President, Lindley Food Service          

		
By:  /s/ David
O’Leary                                   

			
 

	
Date:  9/12/04                                             

		
Title:  Executive
Director                                

			
 

	
Attest:

		
Date:  9/8/04                                                 

	
 

		
 

			
Attest:

	
 

		
 

	
By:  /s/                                                         

		
By:  /s/ John
O’Neill                                       

			
 

			
Somerville-Cambridge Elder Services, Inc.

			
 

			
By:  /s/ John
O’Neill                                       

			
 

			
Title:  Executive
Director                                

			
 

			
Date:  9/08/04                                               

			
 

			
Attest:

			
 

			
By:  /s/ David
O’Leary                                   

			
 

			
 

			
 

			
Springwell, Inc.

			
 

			
By:  /s/Simon E.
Tompson                              

			
 

			
Title:  Executive
Director                                

			
 

			
Date:  9/8/04                                                 

			
 

			
Attest:

			
 

			
By:  /s/ David
O’LearyExhibit 10.1
                                                                    ------------

                           MAXCOR FINANCIAL GROUP INC.

                             2002 STOCK OPTION PLAN

                16(A) OFFICER NONQUALIFIED STOCK OPTION AGREEMENT

Name of Optionee:                   [Name of Officer]
----------------

Optioned Shares:                    ____________ (_____) shares of the common
---------------                     stock, $.001 par value, of Maxcor Financial
                                    Group Inc. ("Shares")

Per Share Option Price:             $_______
----------------------

Option Grant Date:                  _________________, 2004
-----------------

Date Stock Option
-----------------
Becomes Exercisable:                _____ Shares, on _______________, 2005
-------------------
                                    _____ Shares, on ________________, 2006

                                    _____ Shares, on ________________, 2007

                                    _____ Shares, on ________________, 2008

Termination Date:                   _____________, 2014 (or upon such earlier
----------------                    date as specified in the Plan in the event
                                    of an earlier termination of employment)

                              Page 31 of 51 Pages
<PAGE>

         This Stock Option Agreement (this "Agreement") is executed and
delivered as of the Option Grant Date by and between Maxcor Financial Group Inc.
(the "Company") and the Optionee, currently an officer of the Company who is
subject to the reporting requirements of Section 16(a) of the Securities
Exchange Act of 1934 (the "Exchange Act"). The Optionee and the Company hereby
agree as follows:

1.       The Company, pursuant to the Company's 2002 Stock Option Plan, as
         amended (the "Plan"), which is incorporated herein by reference, and
         subject to the terms and conditions thereof, hereby grants to the
         Optionee an option to purchase the Optioned Shares (the "Option") at
         the Per Share Option Price.

2.       The Option granted hereby is a nonqualified stock option.

3.       The Option granted hereby shall terminate, subject to the provisions of
         the Plan, no later than at the close of business on the Termination
         Date.

4.       The Optionee shall comply with and be bound by all the terms and
         conditions contained in the Plan.

5.       Payment by the Optionee of the aggregate Per Share Option Price may be
         made (i) in cash and/or (ii) if at the time of exercise the Optionee is
         still subject to the reporting requirements of Section 16(a) of the
         Exchange Act, through the surrender of Shares previously acquired and
         owned by the Optionee for at least six (6) months and having a Fair
         Market Value (as defined in the Plan) equal to the portion of the
         aggregate Per Share Option Price being paid thereby. In addition, if in
         existence and maintained at the time of exercise, such payment may be
         made through a cashless exercise procedure established by the Company
         with a broker-dealer. Exercises in cash shall be made by wire transfer
         or certified or official bank check or, with the consent of an
         authorized officer of the Company, by personal check.

6.       Options granted hereby shall not be transferable except (i) by will or
         the laws of descent and distribution, or (ii) as specifically provided
         in this Section 6. The Optionee may transfer nonqualified stock options
         to members of his or her Immediate Family (as defined below) if the
         Optionee does not receive any consideration for the transfer and the
         transferee agrees to be bound by this Agreement. "Immediate Family"
         means children, grandchildren and spouse of the Optionee or one or more
         trusts for the benefit of such family members or partnerships in which
         such family members are the only partners. During the lifetime of the
         Optionee, the Option may be exercised only by the Optionee, the
         guardian or legal representative of the Optionee, or a permitted
         transferee under this Section 6 (such persons, together with any
         beneficiaries and the estate of the Optionee, the "Permitted
         Transferees").

7.       Notwithstanding any provision to the contrary contained herein or in
         the Plan, if the Optionee's employment with the Company or any of its
         subsidiaries (each, a "Subsidiary") is terminated under circumstances
         constituting Cause (as defined in the Plan) or if, during the period of

                              Page 32 of 51 Pages
<PAGE>

         the Optionee's employment with the Company or a Subsidiary, the
         Optionee engages in Injurious Conduct (as herein defined) then, unless
         otherwise determined by the Compensation Committee of the Company's
         Board of Directors (the "Committee"):

                  (i) all outstanding Options held by the Optionee (and/or, if
         applicable, any Permitted Transferees) as of the date of such
         termination or the discovery of such conduct shall terminate and be
         forfeited;

                  (ii) the Optionee (and/or, if applicable, any Permissible
         Transferees) shall (a) sell back to the Company all Shares that are
         held, as of the date of such termination or the discovery of such
         conduct, by the Optionee (and/or, if applicable, any Permitted
         Transferees) and that were acquired upon exercise of the Option on or
         after the date which is 180 days prior to the date of such termination
         or the discovery of such conduct (Shares so acquired, the "Acquired
         Shares"), for a per share price equal to the Per Share Option Price of
         the Option, and (b) to the extent such Acquired Shares have previously
         been sold or otherwise disposed of by the Optionee (and/or, if
         applicable, by any Permitted Transferees), repay to the Company the
         excess of the aggregate Fair Market Value (as defined in the Plan) of
         such Acquired Shares on the date of such sale or disposition over the
         aggregate Per Share Option Price with respect to the Acquired Shares.

                  For purposes of the preceding clause (ii)(b) of this Section
         7, the amount of the repayment described therein shall not be affected
         by whether the Optionee (and/or, if applicable, any Permitted
         Transferees) received such Fair Market Value with respect to such sale
         or other disposition, and repayment may, without limitation, be
         effected, at the discretion of the Company, by means of offset against
         any amount owed by the Company to the Optionee or, if applicable, any
         Permitted Transferees.

                  "Injurious Conduct" for purposes of this Agreement shall mean
         (i) the Optionee's fraud, misappropriation or dishonesty in connection
         with Optionee's position or employment arrangement, (ii) conduct by the
         Optionee that is in material competition with the Company or any
         Subsidiary or (iii) conduct by the Optionee that breaches Optionee's
         duty of loyalty to the Company or any Subsidiary or that is materially
         injurious (monetarily or otherwise) to the Company or any Subsidiary.

8.       Notwithstanding any provision to the contrary contained herein or in
         the Plan, in any instance where the exercisability of the Option
         extends past the date of termination of the Optionee's employment with
         the Company or any Subsidiary, the right of the Optionee to continued
         exercisability shall be forfeited if, in the determination of the
         Committee, the Optionee at any time within such remaining period of
         exercisability engages in any of the conduct described in clauses (ii)
         or (iii) of the definition of Injurious Conduct in Section 7 above.

9.       If the Optionee is resident in the United States, payment of the
         minimum federal, state, local or other withholding tax requirements
         related to the exercise by the Optionee of the Option granted hereby

                              Page 33 of 51 Pages
<PAGE>

         may be satisfied, if at the time of exercise the Optionee is still
         subject to the reporting requirements of Section 16(a) of the Exchange
         Act, by the Optionee either (i) electing to have the Company withhold
         from the Shares to be delivered upon such exercise a number of Shares
         equal in Fair Market Value to such minimum tax withholding requirement
         or (ii) surrendering to the Company a number of Shares previously
         acquired and owned by the Optionee for at least six (6) months and
         having a Fair Market Value equal to such minimum tax withholding
         requirement.

10.      The obligation of the Company to sell and deliver any Shares under the
         Option is specifically subject to all applicable laws, rules,
         regulations and governmental and stockholder approvals. Nothing herein
         shall require the Company to effect registration of any Shares under
         either federal or state securities laws.

11.      Any notice by the Optionee to the Company hereunder shall be in writing
         and shall be deemed duly given only upon receipt thereof by the Company
         (Attn: General Counsel) at its principal offices. Any notice by the
         Company to the Optionee shall be in writing and shall be deemed duly
         given if mailed to the Optionee at the address last specified to the
         Company by the Optionee.

12.      The validity and construction of this Agreement shall be governed by
         the laws of the State of Delaware.

13.      This Agreement shall inure to the benefit of and be binding upon the
         Optionee and the heirs, executors and Permitted Transferees, if any, of
         the Optionee.

14.      This Agreement shall not become effective unless and until
         countersigned by the Optionee and returned to the Company.

         This Agreement is made under and subject to the provisions of the Plan,
and all of the provisions of the Plan are also provisions of this Agreement. If
there is a difference or conflict between the provisions of this Agreement and
the provisions of the Plan, the provisions of the Plan will govern, provided
that no provisions of the Plan shall be deemed an enlargement of any benefits or
rights of the Optionee under this Agreement. By signing this Agreement, the
Optionee accepts and agrees to all of the foregoing terms and provisions and to
all of the terms and provisions of the Plan incorporated herein by reference and
confirms that he or she has received a copy of the Plan and the related
prospectus.

                              Page 34 of 51 Pages
<PAGE>

                  IN WITNESS WHEREOF, the Company has caused this Agreement to
be executed by a duly authorized representative and the Optionee has hereunto
set his or her hand as of the Option Grant Date.

                                    MAXCOR FINANCIAL GROUP INC.

                                    By:
                                        ----------------------------------------
                                        Gilbert D. Scharf
                                        President

                                    --------------------------------------------
                                                [Name of Optionee]

                              Page 35 of 51 Pages

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