Document:

Exhibit
      4.1

    

    2008
      CYBERLUX CORPORATION

    INCENTIVE
      STOCK OPTION PLAN

    

    
      	
            	1.	
              Purpose

            

    

    

    The
      purpose of this 2008 Incentive Stock Option Plan (the “Plan”) is to secure for
      Cyberlux Corporation (the “Corporation”) and its stockholders the benefits which
      flow from providing corporate officers and managerial employees with the
      incentive inherent in common stock ownership. It is generally recognized that
      stock option plans aid in retaining competent executives and furnish a device
      to
      attract executives of exceptional ability to the Corporation because of the
      opportunity offered to acquire a proprietary interest in the business. The
      stock
      options granted under the Plan are intended to qualify as incentive stock
      options within the meaning of Internal Revenue Code Section 422.

    

    
      	
            	2.	
              Amount
                of Stock. 

            

    

    

    The
      total
      number of shares of Common Stock to be subject to options granted on or after
      May 31, 2007 pursuant to the Plan shall not exceed 30,000,000 shares of the
      Corporation’s Common Stock of the par value of $.0001 each. This total number of
      shares shall be subject to appropriate increase or decrease in the event of
      a
      stock dividend upon, or a subdivision, split-up, combination or reclassification
      of, the shares purchasable under such options. In the event that options granted
      under this Plan shall lapse without being exercised in whole or in part, other
      options may be granted covering the shares not purchased under the lapsed
      options. 

    

    
      	
            	3.	
              Stock
                Option Committee.

            

    

    

    The
      Board
      of Directors shall from time to time appoint a Stock Option Committee (the
      “Committee”) to serve under this Plan. The Committee shall consist of three or
      more directors.

    

    
      	
            	4.	
              Eligibility
                and Participation.

            

    

    

    Options
      may be granted pursuant to the Plan to corporate officers and managerial
      employees. From time to time, the Committee shall select the officers and
      managerial employees to whom options may be granted by the Board of Directors
      and shall determine the number of shares to be covered by each option to be
      granted. Future as well as present officers and managerial employees (including
      officers and managerial employees who are directors but who are not members
      of
      the Committee) shall be eligible to participate in the Plan. No option may
      be
      granted under the Plan after May, 2018.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    

    

    
      	
            	5.	
              Option
                Agreement.

            

    

    

    The
      terms
      and provisions of options granted pursuant to the Plan shall be set forth in
      an
      agreement, herein called Option Agreement, between the Corporation and the
      employee receiving the same. The Option may be in such form, not inconsistent
      with the terms of this Plan, as shall be approved by the Board of
      Directors.

    

    
      	
            	6.	
              Price.

            

    

    

    The
      purchase price per share of Common Stock purchasable under options granted
      pursuant to the Plan shall be $0.01 per share consistent with the 10 day trading
      average of share trades in the foregoing period of May 17, 2007 through May
      30,
      2007 discounted by 15%. The purchase price per share of Common Stock purchasable
      under options granted pursuant to this Plan to a person who owns more than
      10
      percent of the voting power of the Corporation’s voting stock shall not be less
      than 110 percent of the fair market value of such shares, at the time the
      options were granted.

    For
      the
      purposes of the preceding sentence (a) the employee shall be considered as
      owning the shares owned directly or indirectly by or for himself, the stock
      which the employee may purchase under outstanding options and the stock owned,
      directly or indirectly, by or for his brothers and sisters (whether of the
      whole
      or half blood), spouse, ancestors, and lineal descendants and (b) stock owned
      directly or indirectly, by or for a corporation, partnership, estate, or trust
      shall be considered as being owned proportionately by of for its shareholders,
      partners or beneficiaries. For all purposes of this Plan, the fair market value
      of the Common Stock of the Corporation shall be determined in good faith at
      the
      time of the grant of any option by decision of the Stock Option Committee.
      In
      making such determination, the Stock Option Committee shall not take into
      account the effect of any restrictions on the Common Stock other than
      restrictions which, by their terms, will never lapse. The full purchase price
      of
      shares purchased shall be paid upon exercise of the option. Under certain
      circumstances such purchase price shall be subject to adjustment as referred
      to
      in Section 10 of this Plan.

    

    
      	
            	7.	
              Option
                Period.

            

    

    

    No
      option
      granted pursuant to the Plan shall be exercisable after the expiration of ten
      years from the date the option is first granted. No option granted pursuant
      to
      the Plan to a person owning more than 10 percent of the voting power of the
      Corporation’s voting stock shall be exercisable after the expiration of five
      years from the date the option is first granted. For the purposes of the
      preceding sentence (a) the employee shall be considered as owning the stock
      owned directly or indirectly by or for himself, the stock which the employee
      may
      purchase under outstanding options and the stock owned directly or indirectly,
      by or for his brothers or sisters (whether of the whole or half blood), spouse,
      ancestors, and lineal descendants and (b) stock owned directly or indirectly,
      by
      or for a corporation, partnership, estate or trust shall be considered as being
      owned proportionately by or for its shareholders, partners, or beneficiaries.
      The expiration date stated in the Option Agreement is hereinafter called the
      Expiration Date.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
            	8.	
              Termination
                of Employment.

            

    

    

    The
      Option Agreement shall provide that:

    

    (a)
       If
      prior
      to the Expiration Date, the employee shall for any reason whatever, other than
      (1) his authorized retirement as defined in (b) below, or (2) his death, cease
      to be employed by the Corporation, any unexercised portion of the option granted
      shall automatically terminate.

    

    (b) If
      prior
      to the Expiration Date, the employee shall (1) retire upon or after reaching
      the
      age which at the time of retirement is established as the normal retirement
      age
      for employees of the Corporation or (2) with the written consent of the
      Corporation, retire prior to such age on account of physical or mental
      disability (such retirement pursuant to (1) or (2) being deemed and “authorized
      retirement”) any unexercised portion of the option shall expire at the end of
      three months after such authorized retirement, and during such three months’
period the employee may exercise all or any part of the then unexercised portion
      of the option; and

    

    (c) If
      prior
      to the Expiration Date, the employee shall die (at a time when he is an officer
      or employee of the Corporation or within three months after his authorized
      retirement), the legal representatives of his estate or a legatee or legatees
      shall have the privilege, for a period of six months after his death, of
      exercising all or any part of the then unexercised portion of the option.

    

    Nothing
      in (b) or (c) shall extend the time for exercising any option granted pursuant
      to the Plan beyond the Expiration Date.

    

    
      	
            	9.	
              Assignability.

            

    

    

    The
      Option Agreement shall provide that the option granted thereby shall not be
      transferable or assignable by the employee otherwise than by will or laws of
      descent and distribution and during the lifetime of the employee shall be
      exercisable only by him.

    

    
      	
            	10.	
              Adjustment
                in case of Stock Splits, Stock Dividends,
                etc.

            

    

    

    The
      Option Agreement may contain such provisions as the Board of Directors may
      approve as equitable concerning the effect upon the option granted thereby
      and
      upon the per share or per unit option price, of (a) stock dividends upon,
      subdivisions, split-ups, combinations or reclassifications of, the securities
      purchasable under the option. or (b) proposals to merge or consolidate the
      Corporation or to sell all or substantially all of its assets, or to liquidate
      or dissolve the Corporation.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    

    

    
      	
            	11.	
              Stock
                for Investment.

            

    

    

    The
      Option Agreement shall provided that the employee shall upon each exercise
      of a
      part or all of the option granted represent and warrant that his purchase of
      stock pursuant to such option is for investment only, and not with a view of
      distribution involving a public offering. At any time, the Board of Directors
      of
      the Corporation may waive the requirement of such a provision in any Option
      Agreement entered into under any stock option plan of the
      Corporation.

    

    
      	
            	12.	
              Amendment
                of the Plan.

            

    

    

    The
      Board
      of Directors of the Corporation may from time to time alter, amend, suspend
      or
      discontinue the Plan and make rules for its administration, except that the
      Board of Directors shall not amend the Plan in any manner which would have
      the
      effect of preventing options issued under the Plan from being “incentive stock
      options” as defined in Section 422 of the Internal Revenue Code of
      1986.

    

    
      	
            	13.	
              Options
                Discretionary.

            

    

    

    The
      granting of options under the Plan shall be entirely discretionary with the
      Stock Option Committee and nothing in the Plan shall be deemed to give any
      officer or managerial employee the right to participate in the Plan or to
      receive options.

    

    
      	
            	14.	
              Limitations
                as to Amount.

            

    

    

    No
      person
      to whom options are granted hereunder shall receive options, first exercisable
      during any single calendar year, for shares, the fair market value of which
      (determined at the time of the grant of the options) exceeds $100,000.
      Accordingly, no optionee shall be entitled to exercise options in any single
      calendar year, except to the extent first exercisable in previous calendar
      years, for shares of Common Stock the value of which (determined at the time
      of
      grant of the options) exceeds $100,000.

    

    WHEREFORE,
      this Plan has been approved by unanimous vote of the Board of Directors this
      31st day of May 2007.

    
      	 	 	 	 
	 	 	 	/s/ Donald F. Evans 
	
            	 	 	
              
Donald
              F. Evans
	 	 	 	Chairman[MMC Energy, Inc. Letterhead]

    

    April
      4,
      2008 

    

    Mr.
      Michael Hamilton 

    245
      Prospect Ave

    Apt
      LP-D

    Hackensack,
      NJ 07601

    

    RE:
      Change
      in Control and Severance Agreement

    

    Dear
      Mr.
      Hamilton 

    

    MMC
      Energy, Inc. (the “Company”)
      has
      determined that appropriate steps should be taken to reinforce and encourage
      your continued employment and dedication. In consideration for you remaining
      in
      its employ, the Company and you agree as follows:

    

    1. TERMINATION
      OF YOUR EMPLOYMENT IN CONNECTION WITH A QUALIFYING EVENT.

     

    In
      the
      event of a Qualifying Termination (as defined below), then:

     

    (a) subject
      to your execution and nonrevocation of the release as provided in
      Section 5(b) below, the Company shall pay to you a cash amount equal to
      $750,000, (and you shall not be entitled to any other severance benefits which
      may otherwise be payable to you upon a termination of employment as set forth
      in
      any other agreement between you and the Company or any of its Subsidiaries
      (as
      defined below), if any) (the “Payment”).
      The
      Payment shall be payable to you in accordance with the Company’s normal payroll
      cycle over the thirty-month period immediately following the date of such
      Qualifying Termination; provided,
      however,
      if there
      shall occur a Change in Control, (A) any portion of the Payment that is to
      be
      paid hereunder but has not yet been paid shall be accelerated and paid to you
      as
      a lump sum within ten days of such Change in Control and
      (B)
      if the relevant Qualifying Event occurs subsequent to a Change in Control,
      the
      Payment shall be payable to you as a lump sum within ten days of such Qualifying
      Event. 

     

    (b) subject
      to your execution and nonrevocation of the release as provided in
      Section 5(b) below, notwithstanding any provision to the contrary contained
      in any plan or agreement evidencing an Equity Award granted to you (other than
      an Excluded Agreement) the vesting and/or exercisability of each of your
      outstanding Equity Awards shall be accelerated in full, effective as of the
      date
      of your termination of employment; provided,
      however,
      that
      such acceleration of vesting and/or exercisability shall not apply to any Equity
      Award where such acceleration would be contrary to applicable law. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    2. TERM

     

    (a) The
      initial term of this Agreement (the “Initial
      Term”)
      shall
      commence on the date hereof (the “Effective
      Date”)
      and
      shall terminate on the third anniversary of the Effective Date, except as
      otherwise provided in Sections 2(b) and 2(c) below.

     

    (b) During
      the one-year period commencing immediately prior to the expiration of the
      Initial Term or any Renewal Term (as defined below) then in effect, the
      Compensation Committee of the Board of Directors (the “Committee”)
      shall
      determine, in its sole discretion, whether and for what period, if any, and
      upon
      what terms and conditions (including any modification to the terms and
      conditions of this Agreement as then in effect that the Committee shall
      determine to be advisable) the Company shall offer to you to extend the term
      of
      this Agreement (any such extension being referred to herein as a “Renewal
      Term”)
      following the expiration of the then-effective Initial Term or Renewal Term
      as
      the case may be. Following its determination, the Committee shall advise you
      in
      writing of the terms and conditions upon which the Company would be willing
      to
      extend the term of this Agreement; provided,
      however,
      that if
      the Committee fails to so advise you or if you do not accept the terms and
      conditions upon which the Company would be willing to extend the term of the
      Agreement, the Agreement shall terminate upon the expiration of the Initial
      Term
      or Renewal Term then in effect except as otherwise provided in Section
      2(c).

     

    (c) Notwithstanding
      the provisions of Sections 2(a) and 2(b) above, the then-effective Initial
      Term
      or Renewal Term shall automatically be extended in the event that such term
      would otherwise expire during the period commencing upon the first public
      announcement of a definitive agreement that would result in a Change in Control
      (even though still subject to approval of the Company’s stockholders and other
      conditions and contingencies) and ending upon the expiration of the Change
      in
      Control Period. Such extension shall be upon the terms and conditions of this
      Agreement as then in effect, provided that such extension of the term of the
      Agreement shall expire upon the first to occur of the first public announcement
      of the termination of such definitive agreement or the expiration of the Change
      in Control Period.

     

    (d) Notwithstanding
      the provisions of this Section 2, the obligation of the Company to make payments
      or provide benefits pursuant to this Agreement to which you have acquired a
      right in accordance with the applicable provisions of this Agreement prior
      to
      the expiration of the then-effective Initial Term or Renewal Term shall survive
      the termination of this Agreement until such payments and benefits have been
      provided in full.

     

    (e) Notwithstanding
      the provisions of Sections 2(a), 2(b) and 2(c) but subject to Section 2(d),
      prior to the occurrence of a Change in Control, this Agreement shall immediately
      terminate upon your termination of employment for any reason other than by
      the
      Company without Cause (as defined below) or by you for Good Reason (as defined
      below). 

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    3. SECTION
      409A; SECTION 280G.  

     

    (a) To
      the
      extent applicable, this Agreement shall be interpreted in accordance with
      Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)
      and
      Department of Treasury regulations and other interpretive guidance issued
      thereunder, including without limitation any such regulations or other guidance
      that may be issued after the Effective Date (collectively, “409A
      Guidance”).
      Notwithstanding anything in this Agreement to the contrary, if a payment
      obligation under this Agreement arises on account of your separation from
      service while you are a “specified employee” (as defined under 409A Guidance),
      any payment of “deferred compensation” (as defined under Treasury Regulation
      Section 1.409A-1(b)(1), after giving effect to the exemptions in Treasury
      Regulation Sections 1.409A-1(b)(3) through (b)(12)) that is scheduled to be
      paid
      within six (6) months after such separation from service shall accrue with
      interest and shall be paid within fifteen (15) days after the end of the
      six-month period beginning on the date of such separation from service or,
      if
      earlier, within fifteen (15) days after the appointment of the personal
      representative or executor of your estate following your death. For purposes
      of
      the preceding sentence, interest shall accrue at the prime rate of interest
      plus
      five percent (5%), as published in the northeast edition of The Wall Street
      Journal on the date of your separation from service. The Company shall consult
      with you in good faith regarding the implementation of this Section 3;
provided,
      that
      neither the Company nor any of its Subsidiaries, nor any of their respective
      directors, employees or representatives shall have any liability to you with
      respect to such implementation provided such implementation is done in good
      faith. The preceding provisions, however, shall not be construed as a guarantee
      by the Company of any particular tax effect to you under this Agreement. The
      Company shall not be liable to you for any payment made under this Agreement
      that is determined to result in an additional tax, penalty, or interest under
      Section 409A of the Code, nor for reporting in good faith any payment made
      under
      this Agreement as an amount includible in gross income under Section 409A of
      the
      Code. For purposes of Section 409A of the Code, the right to a series of
      installment payments under this Agreement shall be treated as a right to a
      series of separate payments. “Termination of employment,” “resignation,” or
      words of similar import, as used in this Agreement mean, for purposes of any
      payments under this Agreement that are payments of deferred compensation subject
      to Section 409A of the Code, your “separation from service” as defined in
      Section 409A of the Code.

     

    (b) 
      Certain
      Additional Payments.

     

    (i) Gross-Up
      Payment Amount.
      Notwithstanding anything in this Agreement to the contrary, in the event it
      shall be determined that any payment or distribution by the Company to or for
      your benefit, whether paid, payable, distributed or distributable pursuant
      to
      this Agreement or otherwise would be subject to the excise tax imposed by
      Section 4999 of the Internal Revenue Code of 1986 (the “Code”)
      (or
      any successor provision) or any interest or penalties with respect to such
      excise tax (such excise tax, together with any such interest and penalties,
      are
      collectively referred to in this Agreement as the “Excise
      Tax”),
      then
      you shall be entitled to receive an additional payment (a “Gross-Up
      Payment”)
      in an
      amount such that after the payment by you of all taxes (including any interest
      or penalties imposed with respect to such taxes), including any Excise Tax,
      imposed upon the Gross-Up Payment, you retain an amount of the Gross-Up Payment
      equal to the Excise Tax imposed upon the Payment.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (ii) Determinations.
      All
      determinations required to be made under this Section 3, including whether
      and when a Gross-Up Payment is required and the amount of such Gross-Up Payment
      and the assumptions to be utilized in arriving at such determination, shall
      be
      made by an accounting firm of recognized standing reasonably selected by you
      (the “Accounting
      Firm”),
      which
      shall provide detailed supporting calculations to both you and the Company
      within thirty (30) business days of the receipt of written notice from
      you
      that there has been a Payment. Any Gross-Up Payment, as determined pursuant
      to
      this Section 3, shall be paid by the Company to you within five (5) days of
      the receipt of the Accounting Firm’s determination. All fees and expenses of the
      Accounting Firm shall be borne by the Company. Any determination by the
      Accounting Firm shall be binding upon you and the Company. As a result of the
      possible uncertainty in application of Section 4999 of the Code at the time
      of
      the initial determination by the Accounting Firm hereunder, it is possible
      that
      Gross-Up Payments will not have been made by the Company that should have been
      made (“Underpayment”),
      consistent with the calculations required to be made hereunder. In the event
      that you thereafter are required to make a payment of any Excise Tax, the
      Accounting Firm shall determine the amount of the Underpayment that has occurred
      and any such Underpayment shall be promptly paid by the Company to or for your
      benefit.

     

    (iii) 409A
      Payment Deadline.
      In all
      events and without in any way tolling the time periods provided for in Section
      3(b)(ii) above, the Gross-Up Payment, if any, including any Underpayment, shall
      not be made later than the December 31 following your taxable year in which
      you
      remit the Excise Tax.

     

    4. DEFINITIONS.

     

    For
      purposes of this Agreement, the following terms shall have the following
      meanings:

     

    (a) “Cause”
shall
      be defined as the occurrence of:
      (i) your
      conviction for a felony, excluding convictions associated with traffic
      violations; (ii) you being
      under the influence of drugs or alcohol (other than prescription medicine or
      other medically-related drugs to the extent that they are taken in accordance
      with their directions) during the performance of your duties under this
      Agreement, or, while under the influence of such drugs or alcohol, engaging
      in
      grossly inappropriate conduct during the performance of your duties under this
      Agreement; or engaging in behavior that would constitute grounds for liability
      for harassment (as proscribed by the U.S. Equal Employment Opportunity
      Commission Guidelines or any other applicable state or local regulatory body)
      or
      other egregious conduct that violates laws governing the workplace,
      (iii) an
      egregious and material act of dishonesty (including without limitation theft
      or
      embezzlement) whether or not involving the Company but relating to your business
      affairs; (iv) a willful and material violation of any provision of the Company’s
      Code of Conduct, Policy Memorandum Concerning Insider Trading or that certain
      Assignment of Inventions, Non-Disclosure and Non-Competition Agreement, dated
      December 9, 2007, between you and the Company; (v) intentional reckless conduct
      that is materially detrimental to the business or reputation of the Company;
      or
      (vi) material and continued failure (other than by reason of Disability) to
      carry out reasonably assigned duties or instructions consistent with the title
      of Chief Executive Officer (provided that material failure to carry out
      reasonably assigned duties shall be deemed to constitute Cause only after a
      finding by the Board of Directors of such material failure on your part, which
      shall include the specifics giving rise to such failure, and the failure by
      you
      to remedy such material failure within 30 days after delivery of a written
      version of such finding to you).

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    (b) “Change
      in Control”
means
      the occurrence of any of the following, provided
      that
      the
      occurrence also constitutes, within the meaning of 409A Guidance, a change
      in
      the ownership or effective control of the Company or a change in the ownership
      of a substantial portion of the assets of the Company:

     

    (i)
       any
      “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange
      Act), other than a trustee or other fiduciary holding securities of the Company
      under an employee benefit plan of the Company, becomes the “beneficial owner”
(as defined in Rule 13d-3 promulgated under the Exchange Act), directly or
      indirectly, of securities of the Company representing more than fifty percent
      (50%) of total fair market value or total voting power of the Company’s
      then-outstanding securities entitled to vote generally in the election of
      directors;

     

    (ii) the
      Company is party to a merger, consolidation or similar transaction, or series
      of
      related transactions, which results in the holders of the voting securities
      of
      the Company outstanding immediately prior to such transaction(s) failing to
      retain immediately after such transaction(s) direct or indirect beneficial
      ownership of more than fifty percent (50%) of the total combined voting power
      of
      the securities entitled to vote generally in the election of directors of the
      Company or the surviving entity outstanding immediately after such
      transaction(s);

     

    (iii) the
      sale
      or disposition of all or substantially all of the Company’s assets or
      consummation of any transaction, or series of related transactions, having
      similar effect (other than a sale or disposition to one or more subsidiaries
      of
      the Company); or

     

    (iv) a
      change
      in the composition of the Board over a period of twelve (12) months or less
      as a
      result of which a majority of the Board members ceases, by reason of one or
      more
      contested elections for Board membership, to be comprised of individuals who
      either (A) have been Board members continuously since the beginning of such
      period or (B) have been elected or nominated for election as Board members
      during such period by at least a majority of the Board members described in
      clause (A) who were still in office at the time the Board approved such election
      or nomination. 

     

    (c) “Change
      in Control Period”
means
      a
      period commencing upon the date of the consummation of a Change in Control
      and
      ending on the date occurring twelve (12) months following the date of the
      consummation of such Change in Control.

     

    (d) “Disability”
shall
      mean your absence from employment for at least ninety (90) days in
      any
      twelve (12) month period as a result of your incapacity due to mental or
      physical illness or incapacity, as reasonably determined by the
      Company. 

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    (e) “Equity
      Award”
means
      any option, stock appreciation right, restricted stock, restricted stock unit,
      performance share or performance unit award or other award with respect to
      shares of the capital stock of the Company granted to you by the Company prior
      to a Change in Control, including any such award which is assumed or continued
      by, or for which a replacement award is substituted by, any successor to the
      Company in connection with the Change in Control. 

     

    (f) “Excluded
      Agreement”
means
      any written agreement between you and the Company entered into after the date
      of
      this Agreement which expressly disclaims the operation of Section 1(b)
      hereof.

     

    (g) “Good
      Reason”
shall
      mean (i)
      the
      assignment to you, without your explicit consent, of duties that are
      significantly different from, and that result in a substantial diminution of,
      your duties on the Effective Date; (ii) the
      assignment to you of a title that is different from and subordinate to the
      title
      specified in the definition of Cause above; or (iii) a
      material breach by the Company of this Agreement; provided,
      however,
      that no diminution of duties, position or title shall be deemed to occur solely
      because the Company becomes a subsidiary of another corporation or entity or
      because there has been a change in the reporting hierarchy incident thereto
      involving you.

     

    (h) “Qualifying
      Termination”
shall
      mean:

     

    (i)
       the
      occurrence of a Change in Control and, (A) on or within thirty (30) days
      thereafter, your employment is terminated for any reason by the Company or
      you
      or (B) within twelve (12) months thereafter your employment is terminated by
      (1)
      the Company (or its successor) for any reason other than death, disability
      or
      Cause or (2) you for Good Reason; or 

     

    (ii)
       any
      time
      prior to the occurrence of any Change in Control, your employment is terminated
      by (A) the Company for any reason other than for death, Disability or Cause
      or
      (B) you for Good Reason. 

     

    (i) “Subsidiaries”
shall
      mean collectively, MMC Energy North America, LLC and any other current or future
      direct or indirect subsidiary of such entity or the Company. 

     

    5. MISCELLANEOUS.

     

    (a) Governing
      Law.
      The
      terms of this Agreement and all rights and obligations of the parties thereto,
      including its enforcement, shall be interpreted and governed by the laws of
      the
      State of New York without regard to the principles of conflicts of laws of
      the
      State of New York or those of any other jurisdiction which could cause the
      application of the laws of any jurisdiction other than the State of New
      York.

     

    (b) Release.
      Any and
      all payments and other benefits to which you may become entitled under Section
      1
      are conditioned upon and subject to your execution of, and not having revoked
      within any applicable revocation period, a general release of the Company,
      its
      Subsidiaries and their respective directors and officers, and in the form
      attached on Annex
      A
      hereto.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    (c) Entire
      Agreement; Amendments.
      The
      terms contained in this Agreement constitute the entire agreement between the
      parties with respect to the subject matter hereof and supersede all prior
      negotiations, representations or agreements relating thereto whether written
      or
      oral. No amendment or modification of this Agreement shall be valid or binding
      upon the parties unless in writing and signed by both parties.

     

    (d) Withholding.
      The
      Company shall be permitted in its discretion to withhold from any amounts
      payable under this Agreement such Federal, state or local taxes as the Company
      determines are required to be withheld pursuant to any applicable law or
      regulation. 

     

    (e) No
      Guarantee of Employment.
      This
      Agreement does not and shall not be construed as a guarantee of continued
      employment of you by the Company for any period of time. 

     

    (f) Headings.
      The
      headings of the sections contained in this Agreement are for convenience of
      reference only and shall not be deemed to control or affect the meaning or
      construction of any provision of this Agreement.

     

    (g) Notice.
      For
      purposes of this Agreement, notices and all other communications provided for
      in
      this Agreement shall be in writing and shall be deemed to have been given when
      hand delivered, sent by overnight courier, or mailed by first-class, registered
      or certified mail, return receipt requested, postage prepaid, addressed, in
      the
      case of you, to your address as shown on the Company’s records, and, in the case
      of the Company, to its principal office, to the attention of Chair of the
      Compensation Committee of the Board of Directors (with a copy to John E. Depke,
      DLA Piper US LLP, 1251 Avenue of the Americas, New York, NY 10020) or to such
      other address as either party may have furnished to the other in writing in
      accordance herewith, except that notices of change of address shall be effective
      only upon receipt.

     

    (h) Counterparts.
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original of the party executing the same and all of which together
      shall constitute one and the same instrument.

     

    (i) Successors
      and Assigns.
      The
      rights and obligations of the Company under this Agreement shall be binding
      upon
      its successors and assigns and may be assigned by the Company to the successors
      in interest of the Company. The rights and obligations of you under this
      Agreement shall be binding upon your heirs, legatees, personal representatives,
      executors or administrators. This Agreement may not be assigned by you, but
      any
      amount owed to you upon your death shall inure to the benefit of your heirs,
      legatees, personal representatives, executors, or administrators.

     

    (j) Waiver.
      No
      delay or omission by the Company in exercising any right under this Agreement
      shall operate as a waiver of that or any other right. A waiver or consent given
      by the Company on any one occasion shall be effective only in that instance
      and
      shall not be construed as a bar or waiver of any right on any other
      occasion.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    (k) Severability.
      In the
      event that any one or more of the provisions of this Agreement is held to be
      invalid, illegal or unenforceable, the validity, legality and enforceability
      of
      the remaining provisions will not in any way be affected or impaired
      thereby.

     

    [Remainder
      of Page Intentionally Left Blank]

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

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

    
      	 	 	 
	 	MMC ENERGY, INC.
	 
 	 
 	 
 
	 	By:  	/s/ Denis Gagnon
	 	
              
Name:
              Denis Gagnon
	 	Title: Chief Financial
              Officer

    

     

    ACCEPTED
      AND AGREED TO

    as
      of the
      first date written above

     

    By: /s/
      Michael Hamilton

    
      
Michael
      Hamilton

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    ANNEX
      A

    RELEASE
      OF CLAIMS

    

    This
      Release of all Claims (the "Release")
      is
      entered into by and between MMC Energy, Inc. [OR NAME OF ANY SUCCESSOR ENTITY]
      (the “Company”)
      and
      Michael Hamilton (the “Executive”)
      and
      dated as of [INSERT DATE] (the “Effective
      Date”).

    

    In
      consideration of the promises set forth in the change in control and severance
      agreement between the Executive and the Company, dated as of April 4, 2008
      (the
“Agreement”),
      the
      Executive and the Company (the “Parties”)
      hereby
      agree as follows:

    

    1. Agreement
      Entitlements.
      The
      Executive’s termination of employment shall be effective as of the Effective
      Date. Consequently, the Company shall provide the Executive the post-termination
      payments and other benefit to which he would not be entitled under the
      Agreement, but for the execution of this Release (capitalized terms used herein
      and not otherwise defined have the meanings ascribed to them in the
      Agreement).

     

    2. Release
      of Claims.
      

     

    (a) As
      used
      in this Release, the term “claims” shall include all claims, covenants,
      warranties, promises, undertakings, actions, suits, causes of action,
      obligations, debts, accounts, attorneys’ fees, judgments, losses and
      liabilities, of whatsoever kind or nature, in law, equity or
      otherwise.

     

    (b) The
      Executive, for and on behalf of himself and his successors, assigns, legal
      representatives, heirs, executors and administrators, does hereby remise,
      release, absolve and discharge, the Company, its Subsidiaries, all of their
      respective successors and assigns, subsidiaries, affiliates and legal
      representatives (in their capacities as such), past and present, and all of
      their respective directors, officers, shareholders, members, agents, employees,
      attorneys, successors, assigns, legal representatives, heirs, executors and
      administrators, past and present, and each and every one of them, in their
      individual and corporate capacities as such (collectively, the “Releasees”)
      from
      any and all claims which the Executive had, may have had, or now has against
      the
      Company, the Releasees, collectively or any member of the Releasees
      individually, for or by reason of any matter, cause or thing whatsoever
      including any claim arising out of or attributable to the Executive’s employment
      or the termination of the Executive’s employment with the Company, including but
      not limited to claims of breach of contract, wrongful termination, unjust
      dismissal, defamation, libel or slander, or under any applicable Federal, state
      or local law dealing with discrimination based on age, race, sex, national
      origin, handicap, religion, disability, sexual preference or any other factor.
      This release of claims includes, but is not limited to, all claims arising
      under: the Age Discrimination in Employment Act of 1967 (the “ADEA”,
      a law
      which prohibits discrimination on the basis of age); the National Labor
      Relations Act; Title VII of the Civil Rights Act of 1964; the Americans with
      Disabilities Act of 1990; the Civil Rights Act of 1991; the Employee Retirement
      Income Security Act of 1974; the Family Medical Leave Act; the Equal Pay Act;
      all as amended, and all other Federal, state and local labor and
      anti-discrimination laws, the common law and any other purported restriction
      on
      an employer’s right to terminate the employment of employees. Notwithstanding
      the foregoing, this Section 2(b) shall not apply to any claims that arise under
      or are in connection with (i) this Release, (ii) employee benefit plans of
      general applicability in which the Executive participated as of the date of
      his
      termination of employment, and (iii) the Executive’s rights, if any, to
      indemnification by the Company under the articles, by-laws, policies or other
      agreements or applicable law.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (c) The
      Executive represents that the Executive has not filed or permitted to be filed
      against the Releasees, any member of the Releasees individually or the Releasees
      collectively, any complaint, charge, claim, suit, action or proceeding before
      any local, state or federal court or other body (each individually, a
“Proceeding”).
      The
      Executive further represents that the Executive is not aware of any basis on
      which such a Proceeding could reasonably be instituted. The Executive covenants
      and agrees that the Executive will not initiate or cause to be initiated on
      the
      Executive’s behalf any Proceeding at any time hereafter with respect to the
      subject matter of this Release and claims release pursuant to this Release
      (including, without limitation, any claims relating to the termination of the
      Executive’s employment), except as may be necessary to enforce this Release, to
      obtain benefits described in or granted under this Release, to seek a
      determination of the validity of the waiver of the Executive’s rights under the
      ADEA or as required by law. Except as otherwise provided in the preceding
      sentence, the Executive will not voluntarily participate in any judicial
      proceeding of any nature or description against the Releasees, any member of
      the
      Releasees individually or the Releasees collectively as of the Effective Date.
      The Executive waives any right the Executive may have to benefit in any manner
      from any relief (whether monetary or otherwise) arising out of any Proceeding,
      including any Proceeding conducted by the Equal Employment Opportunity
      Commission (“EEOC”).
      Further, the Executive understands that, by executing this Release, the
      Executive will be limiting the Executive’s right to pursue certain claims and
      the availability of certain remedies the Executive may have against the
      Releasees, any member of the Releasees individually or the Releasees
      collectively. Notwithstanding the above, nothing in this Section 2(c) shall
      prevent the Executive from initiating or participating in an investigation
      or
      proceeding conducted by the EEOC.

     

    3. Time
      to Consider.
      The
      Executive acknowledges that he has been advised that he has twenty-one (21)
      days
      from the date of receipt of this Release to consider all the provisions of
      this
      Release and he does hereby knowingly and voluntarily waive said given twenty-one
      (21) day period. EXECUTIVE FURTHER ACKNOWLEDGES THAT HE HAS READ THIS RELEASE
      CAREFULLY, HAS BEEN ADVISED BY THE COMPANY TO, AND HAS IN FACT, CONSULTED AN
      ATTORNEY, AND FULLY UNDERSTANDS THAT BY SIGNING BELOW HE IS GIVING UP CERTAIN
      RIGHTS WHICH HE MAY HAVE TO SUE OR ASSERT A CLAIM AGAINST ANY OF THE RELEASEES,
      AS DESCRIBED IN SECTION 2 OF THIS RELEASE AND THE OTHER PROVISIONS HEREOF.
      EXECUTIVE ACKNOWLEDGES THAT HE HAS NOT BEEN FORCED OR PRESSURED IN ANY MANNER
      WHATSOEVER TO SIGN THIS RELEASE, AND EXECUTIVE AGREES TO ALL OF ITS TERMS
      VOLUNTARILY.

     

    4. Revocation.
      The
      Executive hereby acknowledges and understands that the Executive shall have
      seven (7) days from the date of his execution of this Release to revoke this
      Release and that neither the Company nor any other person is obligated to
      provide any post-employment benefits to the Executive pursuant to Section 1
      until eight (8) days have passed since the Executive’s signing of this Release
      without the Executive having revoked this Release, in which event the Company
      immediately shall arrange and/or pay for any such benefits otherwise
      attributable to said eight (8) day period, consistent with the terms of the
      Release. If the Executive revokes this Release, the Executive will be deemed
      not
      to have accepted the terms of this Release, and no action will be required
      of
      the Company under any section of this Release.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5. Availability
      of Relief.
      In the
      event that the Executive fails to abide by any of the terms of this Release,
      including but not limited to Section 2 of this Release, the Company may, in
      addition to any other legal, monetary or equitable remedies it may have,
      terminate any portion of the payments that are subsequently due pursuant to
      Section 1, if any, without waiving the release granted to the Releasees
      herein.

     

    6. Miscellaneous.

     

    (a) Notices.
      All
      notices, requests, demands and other communications hereunder shall be given
      in
      accordance with the notice provisions contained in Section 5(g) of the
      Agreement.

     

    (b) Successors.
      This
      Release shall be binding upon and inure to the benefit of the Parties, their
      respective heirs, successors and assigns.

     

    (c) Taxes.
      The
      Company shall withhold from any amounts payable under this Release such taxes
      as
      may be required to be withheld pursuant to any applicable law or
      regulation.

     

    (d) Severability.
      In the
      event that any provision of this Release is determined to be invalid or
      unenforceable, the remaining terms and conditions of this Release shall be
      unaffected and shall remain in full force and effect. In addition, if any
      provision is determined to be invalid or unenforceable due to its duration
      and/or scope, the duration and/or scope of such provision, as the case may
      be,
      shall be reduced, such reduction shall be to the smallest extent necessary
      to
      comply with applicable law, and such provision shall be enforceable, in its
      reduced form, to the fullest extent permitted by applicable law.

     

    (e) Non-Admission.
      Nothing
      contained in this Release shall be deemed or construed as an admission of
      wrongdoing or liability on the part of the Executive or on the part of the
      Company.

     

    (f) Non-Waiver.
      A
      failure of either the Executive or any of the Releasees to insist on strict
      compliance with any provision of this Release shall not be deemed a waiver
      of
      such provision or any other provision hereof.

     

    (g) Governing
      Law.
      The
      validity, interpretations, construction and performance of this Release shall
      be
      governed by the laws of the State of New York without giving effect to conflict
      of laws principles.

     

    (h) Headings.
      The
      headings of the sections contained in this Release are for convenience of
      reference only and shall not be deemed to control or affect the meaning or
      construction of any provision of this Release.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (i) Counterparts. This
      Release may be executed by one or more of the Parties hereto on any number
      of
      separate counterparts and all such counterparts shall be deemed to be one and
      the same instrument. Each party hereto confirms that any facsimile copy of
      such
      party’s executed counterpart of this Release (or its signature page thereof)
      shall be deemed to be an executed original thereof. 

     

    IN
      WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand as of the
      date first written above.

    

      
        	 	 
	 	
                
                  

                

                Michael
                  Hamilton

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