Document:

EXHIBIT
10.5

          

           

          Confidential
treatment has been requested for portions of this exhibit. The copy filed
herewith omits the information subject to the confidentiality request. Omissions
are designated as [***]. A complete version of this exhibit has been filed
separately with the Securities and Exchange Commission.

        

         

        
          	
                  

                	
                  1600
      Broadway, Suite 2200

                  
                    Denver,
      CO 80202

                  

                

        

      

    

    
    

      

    CONFIDENTIAL
AND PROPRIETARY

    

    September
23, 2010

    

    Cargill,
Inc.

    15407
McGinty Road, West MS 62

    Wayzata,
MN 55391-2399

    Attn:
Brian Silvey

    

    Cargill
Commodity Services, Inc.

    15407
McGinty Road, West MS 19

    Wayzata,
MN 55391-2399

    Attn:
Dennis Inman

    

    Re: BioFuel Agreements

    

    Dear Mr.
Inman and Mr. Silvey:

     

    We direct
your attention to (a) the following agreements by and among Cargill,
Incorporated, Cargill Commodity Services, Inc. (collectively “Cargill”) and our
subsidiary, Buffalo Lake Energy, LLC (“BLE”): (i) the Master Agreement, dated
September 25, 2006; (ii) the Ethanol Marketing Agreement, dated as of September
25, 2006; (iii) the Corn Supply Agreement, dated September 25, 2006, (iv) the
Distillers Grains Marketing Agreement, dated as of September 25, 2006; (v) the
Grain Facility Lease, dated September 25, 2006 and (vi) that certain Agreement
and Omnibus Amendment dated as of July 30, 2009 (the “BLE Omnibus Agreement”
and, together with the forgoing agreements, the “BLE Agreements) and (b) the
following agreements by and between Cargill and our subsidiary, Pioneer Trail
Energy, LLC (“PTE”): (i) the Master Agreement, dated September 25, 2006; (ii)
the Ethanol Marketing Agreement, dated as of September 25, 2006; (iii) the Corn
Supply Agreement, dated September 25, 2006, (iv) the Distillers Grains Marketing
Agreement, dated as of September 25, 2006; (v) the Grain Facility Lease, dated
September 25, 2006 and (vi) that certain Agreement and Omnibus Amendment dated
as of July 30, 2009 (the “PTE Omnibus Agreement” and, together with the forgoing
agreements, the “PTE Agreements”).

     

    In
consideration of the mutual agreements contained in this letter and our
discussions regarding the resolution of certain payment and performance
obligations, respectively, of each of the parties hereto, the parties agree to
the following:

     

    
      	
            	
              1. 

            	
              Notwithstanding
      anything to the contrary contained in the BLE Agreements or the PTE
      Agreements, for the remaining duration of each of those agreements the
      commissions, rents and other consideration payable to Cargill thereunder
      shall be as set forth on the schedule attached hereto as “Exhibit
      A”.

            

    

     

    (303)
640-6500 • (303) 592-8117 (fax)

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    Letter
Agreement re: BioFuel Agreements

    Cargill,
Inc.

    Cargill
Commodity Services, Inc.

    September
23, 2010

    

    
      	
            	
              2. 

            	
              Notwithstanding
      anything to the contrary contained in the Distillers Grain Marketing
      Agreements described above, the Producer under such Agreements (as defined
      therein) shall be entitled to use any other marketer of its choosing to
      market and sell the wet distiller’s grains produced (DWG, MDWG, and CDS);
      for the purpose of clarity, no minimum commission shall be owed under
      Section 3.2 of the respective Distillers Grain Marketing Agreement on any
      shortfall due to the sales of such wet distiller’s grains to a third
      party.

            

    

    
      	
            	
              3. 

            	
              All
      ongoing deferrals under the Omnibus Agreements shall cease immediately;
      provided that,
      notwithstanding anything contained in those Agreements to the
      contrary, neither BLE nor PTE shall be required to begin repayment of any
      Deferred Rent Payments, Deferred Ethanol Commission Payments or Deferred
      DG Commission Payments (as each term is defined therein) unless and until
      the elevator turn back discussions (described below) are concluded. For
      the avoidance of doubt, all such Deferred Rent Payments, Deferred
      Commission Payments and Deferred DG Payments shall be and remain
      continuing obligations of BLE and PTE, respectively, and shall be due,
      payable in full and repaid on the earlier to occur of (i) a complete
      refinancing of the senior bank credit facility to which PTE and BLE are
      parties; (ii) such time as PTE and BLE collectively have accumulated $25
      million or more in cash available for such purpose; (iii) September 25,
      2014; or (iv) BioFuel, the LLC, BLE and PTE files a voluntary petition in
      bankruptcy, has filed against it an involuntary petition in bankruptcy,
      makes an assignment for the benefit of creditors or has a trustee or
      receiver appointed for any or all of its
assets.

            

    

     

    The
foregoing shall take effect immediately upon the later to occur of (i) your
execution of this letter, or (ii) closing and funding of the Bridge Loan (as
described below), provided that if such payment does not occur by September 30,
2010 the foregoing (items 1-3 above) shall be void and of no effect. All of the
other terms and conditions of the BLE Agreements and PTE Agreements shall remain
in full force and effect unless terminated, amended or modified in writing as
provided therein. We agree to cooperate in good faith with Cargill and its
attorneys to execute such further documentation concerning the understandings
set forth herein and any issues relating thereto as may be reasonably acceptable
to the parties.

     

    In
addition, we will continue to negotiate the terms of a proposal to turn back
occupancy and operation of the Grain Facilities to Cargill, to be completed no
later than December 31, 2010, subject to an adjustment of fees for corn
procurement and elevator operation and maintenance to reflect the cost of
operation to Cargill, currently estimated at $[***] per bushel. The Grain
Facilities will be turned back to Cargill and Cargill will become responsible
for all subsequent capital improvements and maintenance of the Grain Facilities.
Thereafter, Cargill will continue to be responsible for all corn procurement for
the Plants.

     

    BioFuel
Energy Corp. (“BioFuel”), is in the process of obtaining approximately $18
million for a short-term financing (the “Bridge Loan”) from a group of
investors, the proceeds of which are to be used to pay the entire outstanding
principal amount of its outstanding working capital loans under a separate
senior secured credit facility between BLE, PTE, BFE Operating Company, LLC and
a group of lenders (the “Credit Agreement”). Notwithstanding anything to the
contrary contained in that certain Agreement dated January 14, 2009 by and
between BioFuel Energy, LLC (the “LLC”) and Cargill (the “Settlement
Agreement”), Cargill agrees that the proceeds of the Bridge Loan may be
contributed by BioFuel to the LLC and used by the LLC as described herein, that
such proceeds shall not be considered “Available Cash Received” (as defined in
the Settlement Agreement) and that no such proceeds shall be owed to Cargill
under the Settlement Agreement.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    Letter
Agreement re: BioFuel Agreements

    Cargill,
Inc.

    Cargill
Commodity Services, Inc.

    September
23, 2010

     

    In order
to repay the Bridge Loan and certain other indebtedness, and for additional
capital, BioFuel proposes to conduct an offering of rights to purchase common
and/or preferred stock or, if a depositary structure is utilized, depositary
shares representing preferred stock (the “Offered Stock”) to its existing
shareholders, including Cargill (the “Rights Offering”). The parties agree that,
upon completion of the Rights Offering: (A) a portion of the proceeds therefrom,
will be used to pay Cargill the amount of $2,800,828.57, pursuant to Section
2.01(b) of the Settlement Agreement and (B) Cargill will forgive the remaining
Payable (as defined in the Settlement Agreement) in exchange for shares of the
Offered Stock in an amount equal to the amount of the remaining Payable and any
accrued interest, with the value of such shares to be as set forth in the
following sentence. The shares of Offered Stock will be issued to Cargill on the
twelfth business day following the Rights Offering and will be valued for
purposes of the foregoing at a per share value based upon the average of the
volume weighted averages of the trading prices of the BioFuel Common Stock on an
as-converted to common stock basis, as such prices are reported on the NASDAQ
Global Market (as reported by Bloomberg Financial Markets or such other source
as the parties shall agree in writing), for the 10 consecutive trading days
ending on the second trading day immediately preceding the date the Offered
Stock is issued to Cargill. The Offered Stock issued to Cargill shall be the
same and/or shall have the same par value, rights, preferences and powers as the
shares issued to any other participant or purchaser in the Rights Offering. All
of the foregoing set forth in this paragraph is expressly contingent upon the
successful completion of the Rights Offering and the ability to raise sufficient
proceeds from the Rights Offering to accomplish all of the
foregoing.

     

    BioFuel,
the LLC, BLE and PTE, on behalf of themselves and their respective successors,
assigns, executors and administrators hereby agree to fully release Cargill, its
affiliates, directors, officers and shareholders (the “Cargill Parties”) from
any and all claims, whether contingent or known, based upon or consisting of any
allegation that any Cargill Party bears responsibility or liability for the
financial condition of the BFE Entities.

     

    If this
letter comports with your understanding of our agreement, please sign below as
the properly designated representative of Cargill and return to me (via pdf or
fax) no later than September 23, 2010.

     

    Sincerely,

     

    BioFuel
Energy Corp.

     

    /s/ Scott
Pearce

    Scott
Pearce

    President
and CEO

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      Letter
Agreement re: BioFuel Agreements

      Cargill,
Inc.

      Cargill
Commodity Services, Inc.

      September
23, 2010

      

      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  BFE
      Operating Company, LLC

                                	 
      
	 
      	 
      
	
                                  By:

                                	/s/
      	 
      
	
                                  Its:

                                	
                                  Authorized
      Representative

                                	 
      
	 
      	 
      
	
                                  Pioneer
      Trail Energy, LLC

                                	 
      
	 
      	 
      
	
                                  By:

                                	/s/
        	 
      
	
                                  Its:

                                	
                                  Authorized
      Representative

                                	 
      
	 
      	 
      
	
                                  Buffalo
      Lake Energy, LLC

                                	 
      
	 
      	 
      
	
                                  By:

                                	/s/  	 
      
	
                                  Its:

                                	
                                  Authorized
      Representative

                                	 
      

                        

                      

                    

                  

                

              

            

          

        

      

      

      
        	
                Agreed
      to as of the date first set forth above:

              	 
      
	 
      	 
      
	
                Cargill,
      Incorporated

              	 
      
	 
      	 
      
	
                /s/
      Brian Silvey

              	 
      
	
                Name:
      Brian Silvey

              	 
      
	
                Title:

              	 
      
	 
      	 
      
	
                Cargill
      Commodity Services, Inc.

              	 
      
	 
      	 
      
	
                /s/
      Dennis Inman

              	 
      
	
                Name:
      Dennis Inman

              	 
      
	
                Title:

              	 
      

      

       

    

    
      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

     

    EXHIBIT
“A”

     

    COMMISSIONS, FEEs and
RENTS

     

    Ethanol
marketing commissions: The “Cargill Commission” under each Ethanol Marketing
Agreement shall be $[***] per gallon.

     

    DDG
Marketing Commissions: the first three paragraphs of “Exhibit A” to each of the
Distillers Grains Marketing Agreements shall each be replaced in their entirely
as follows:

     

    Cargill
agrees to pay Producer for all Standard-Grade DDG and DDGS loaded into railcars
and trucks and weighed at the Facility for shipment to customers an amount equal
to [***] percent ([***]%) of the F.O.B. Facility Price, with Cargill being
entitled to retain as its commission the greater of the remaining [***] percent
([***]%) or $[***] per ton (“Initial Price”), with settlement weights as
described in Section 8.4 of the Agreement.

     

    Cargill
agrees to pay Producer for all Non-Standard-Grade DDG and DDGS loaded into
railcars and trucks at the Facility and weighed for shipment to customers, an
amount equal to the F.O.B. Facility Price for such Non-Standard-Grade DDG or
DDGS less [***] percent ([***]%) of the weighted average F.O.B. Facility Price
of all Standard-Grade DDG or DDGS sold by Cargill to third parties in a
rolling [***] period preceding the date of Producer’s invoice, with Cargill
being entitled to retain as its commission the greater of the remaining [***]
percent ([***]%) or $[***] per ton (“Non-Standard Initial
Price”).

     

    Corn Commissions: current corn commissions shall
remain at $[***] per bushel, as provided in the Corn Supply Agreements;
provided
that, the
corn payment terms included in Section 2.2(c)  and 2.2(d) of each of the
Omnibus Agreements (e.g., modifying Sections 13(d) and 13(e) of each respective
Corn Supply Agreement), including without limitation the option to utilize the
“Concessionary Payment Date,” shall remain in effect for the duration of the
terms of the respective Corn Supply Agreements, subject to the payment of
interest, at an annualized rate of [***]% based on a 360 day year, on all such
extended payment amounts. For the purpose of clarity, in the event the parties
agree on the terms of turning back the Grain Facilities to Cargill, any revised
corn commission schedule will retain the foregoing proviso.

       

      Grain
Facility Lease Payments: the monthly rentals payable under each of the Grain
Facility Leases shall be reduced by $[***] per month for each plant, as
permanent reductions rather than deferrals, for the duration of the Lease term
or until such time as the Grain Facilities are turned back to Cargill (at which
time such Leases shall cease).

    

    
      
         

      

      
        Page
A-1FIRST
AMENDED AND RESTATED

    EXCHANGE
AGREEMENT

    

    THIS
FIRST AMENDED AND RESTATED EXCHANGE AGREEMENT (this “Agreement”) is executed as
of September 10, 2010, intending to be effective as of July 2, 2010 (the
“Effective Date”) by and among CALEDONIA CAPITAL CORPORATION, a Delaware
corporation (“Caledonia”) and STEELCLOUD, INC., a Virginia corporation (the
“Company”).

    

    WHEREAS, the parties hereto
previously entered into that certain Exchange Agreement dated as of July 2, 2010
(the “Exchange Agreement”); and

    

    WHEREAS,  the Exchange
Agreement contained certain inaccuracies that the parties now desire to correct;
and

    

    WHEREAS,
the Company has authorized 750,000 shares of Series A Preferred Stock (the
“Series A Preferred”) for issuance; and

    

    WHEREAS,
Caledonia desires to convert the Caledonia Shares (as defined below), into
90,000 shares of the Series A Preferred and a Note in the principal amount of
$70,000 (the “Note”); and

    

    WHEREAS,
Caledonia and the Company desire to enter into this Agreement to provide the
terms and conditions upon which the Caledonia Shares will be exchanged for
shares of the Series A Preferred and the Note.

    

    NOW
THEREFORE, in exchange for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Caledonia and the Company agree as
follows:

    

    1.  Exchange. As of the Effective
Date, Caledonia hereby elects to exchange 2,500,000 shares of the common stock
of the Company, $0.001 par value per share (the “Common Stock”) held by
Caledonia (the “Caledonia Shares”) into 90,000 shares of the Series A Preferred
and the Note.

    

    2.  Representations, Warranties and
Covenants

    

    (a) The Company. The
Company hereby makes the following representations, warranties and covenants in
favor Caledonia:

    

    (i)    Authorized Shares. The shares
of the Series A Preferred identified in Section 1 of this Agreement constitute
duly authorized shares of the capital stock of the Company the issuance of which
to Caledonia has been duly authorized by the board of directors of the
Company.

    

    (ii)    Validly Issued. Upon issuance
of the shares of the Series A Preferred identified in Section 1 of this
Agreement and receipt by the Company of the certificates representing Caledonia
Shares properly endorsed and accompanied by all instruments necessary to effect
the transfer of such shares of the Common Stock to the Company (collectively,
the “Certificates”), such shares of the Series A Preferred shall be validly
issued and outstanding, fully paid, nonassessable and free and clear of all
liens and encumbrances arising through the actions of the Company or its
directors, officers, employees or agents.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (iii)  Issuance of Series A
Preferred. Upon the Company's receipt of the Certificates and the duly
executed counterparts of this Agreement, the Company shall issue the shares of
the Series A Preferred specified in Section 1 of this Agreement to the party
identified in Section 1 of this Agreement as electing to receive such
shares.

    

    (iv)   Authorization. The Company
has full power and authority to enter into this Agreement, and this Agreement,
when executed and delivered, will constitute a valid and legally binding
obligation of the Company. The individual signing this Agreement on behalf of
the Company is duly authorized to execute this Agreement for and on behalf of
the Company. All organizational action required to be taken to authorize (i) the
execution and delivery of this Agreement by the undersigned individual for and
on behalf of the Company, and (ii) the performance by the Company of its
obligations hereunder has been taken.

    

    (b)           Caledonia. Caledonia
hereby makes the following representations, warranties and covenants in favor of
the Company:

    

    (i)    Title to Shares. Caledonia is
the owner of record of the Caledonia Shares and owns such shares of the Common
Stock free and clear of all liens, claims and encumbrances.

    

    (ii)   Authorization. Caledonia has
full power and authority to enter into this Agreement, and this Agreement, when
executed and delivered, will constitute a valid and legally binding obligation
of Caledonia. The individual signing this Agreement on behalf of Caledonia is
duly authorized to execute this Agreement for and on behalf of Caledonia. All
organizational action required to be taken to authorize (i) the execution and
delivery of this Agreement by the undersigned individual for and on behalf of
Caledonia, and (ii) the performance by Caledonia of its obligations hereunder
has been taken.

    

    (iii)  Purchase Entirely For Own
Account. This Agreement is made with Caledonia in reliance upon its
representation to the Company, which, by Caledonia’s execution of this
Agreement, it hereby confirms, that the shares of Series A Preferred to be
received by Caledonia and any securities issuable upon conversion thereof (such
shares of the Series A Preferred and securities issuable upon conversion thereof
being, collectively, the “Securities”) are being and will be acquired for
investment for Caledonia’s own account, not as nominee or agent, and not with a
view to the resale or distribution of any part thereof  in violation
of the Securities Act, and that neither Caledonia nor any of its officers,
members, managers or representatives with the authority, responsibility or power
to make a decision with regard to the purchase or sale of the Securities or any
portion thereof (collectively, “Caledonia’s Representatives”) has any present
intention of selling, granting any participation in or otherwise distributing
the same in violation of the Securities Act. Caledonia and Caledonia’s
Representatives are familiar with the phrase “acquired for investment and not
with a view to distribution” as it relates to the Securities Act of 1933, as
amended (the “Securities Act”) and state securities laws and the special meaning
given to such term by the Securities and Exchange Commission (the “SEC”). By
executing this Agreement, Caledonia further represents that it does not have any
contract, undertaking, agreement or arrangement with any person to sell,
transfer or grant participations to such person or to any third person, with
respect
to any of the Securities.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    (iv)
Reliance Upon Caledonia’s
Representations and Warranties. Caledonia and Caledonia’s Representatives
understand that the Securities are not, and upon issuance of any of the
Securities on conversion of shares of the Series A Preferred, at the time of
issuance may not be, registered under the Securities Act on the ground that the
sale provided for in this Agreement and the issuance of securities hereunder is
exempt from registration under the Securities Act, and that the Company's
reliance on such exemption is predicated on Caledonia’s representations and
warranties set forth herein. Caledonia and Caledonia’s Representatives realize
that the basis for the exemption may not be present if, notwithstanding such
representations and warranties, Caledonia or any of Caledonia's Representatives
has in mind merely acquiring the Securities or any portion thereof for a fixed
or determinable period in the future, or for a market rise, or for sale if the
market does not rise. Neither Caledonia nor any of Caledonia’s Representatives
has any such intention. Furthermore, Caledonia hereby covenants to indemnify the
Company for and hold the Company harmless from all losses, costs, damages,
liabilities and expenses arising out of or in connection with any breach or
inaccuracy of any representation, warranty or covenant made by Caledonia in this
Agreement.

    

    (v) Receipt of Information.
Caledonia and Caledonia's Representatives have received all the information they
consider necessary or appropriate for deciding whether to exchange the Caledonia
Shares into 90,000 shares of Series A Preferred and the Note. Caledonia further
represents that it has had an opportunity to ask questions and receive answers
from the Company regarding the terms and conditions of the Series A Preferred
and the business, properties, prospects and financial condition of the Company
and to obtain additional information necessary to verify the accuracy of any
information furnished to it.   In making the decision to enter
into this Agreement, Caledonia and Caledonia’s Representatives have relied
solely upon their review of this Agreement, the Articles of Amendment to the
Company's Articles of Incorporation designating the terms and conditions of the
Series A Preferred, the form of the Note, and independent investigations made by
such Caledonia or Caledonia's Representatives. Caledonia further represents and
affirms that none of the following information has ever been represented,
guaranteed or warranted to it or any of its officers, members, managers or
representatives, expressly or by implication, by any person: (1)  the
approximate or exact length of time that Caledonia will be required to remain a
shareholder of the Company, (2) the percentage of profit and/or amount of or
type of consideration, profit or loss to be realized, if any, as a result of its
entry into this Agreement; or (3) the possibility that the past performance or
experience on the part of the Company or any affiliate, officer, director,
employee or agent of the Company, might in any way indicate or predict the
results of ownership of the Securities or the potential success of the Company's
operations.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    (vi)   Accredited Investor.
Caledonia is an Accredited Investor, as such term is defined in Regulation D
promulgated under the Securities Act.

    

    (vii)  Restricted Securities.
Caledonia and each of Caledonia’s Representatives understand that none of the
Securities, the Note, nor any portion thereof may be sold, transferred or
otherwise disposed of without registration under the Securities Act or an
exemption therefrom, and that in the absence of an effective registration
statement covering the Securities or the Note (or such portion thereof) or an
available exemption from registration under the Securities Act, the Securities
and each portion thereof must be held indefinitely. Caledonia and each of
Caledonia's Representatives is aware that none of the Securities, the Note, nor
any portion thereof may be sold pursuant to Rule 144 promulgated under the
Securities Act unless all of the conditions of that Rule are met.

    

    (viii)    Legends. To the extent
applicable, each certificate or other document evidencing any of the Securities
or the Note shall be endorsed with the legends substantially in the form set
forth below:

     

    The
following legend under the Securities Act:

    

    THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED, OR
HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SUCH ACT, OR UNLESS STEELCLOUD,
INC. (THE “COMPANY”) HAS RECEIVED AN OPINION OF COUNSEL OR OTHER EVIDENCE,
SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT
REQUIRED.

    

    Also the
Company shall endorse such certificates with each legend imposed or required by
the Company's Articles of Incorporation, the Company's Bylaws or applicable
state securities laws.

    

    3.   Governing Law. This Agreement
shall be governed by the laws of the State of Virginia, without reference to the
choice of laws rules of such state.

    

    4.  Attorneys' Fees. In the event
any party hereto fails to perform any of its obligations under this Agreement or
the transactions contemplated hereby or in the event a dispute arises concerning
the meaning or interpretation of any provision of this Agreement, the defaulting
party or the party not prevailing in such dispute, as the case may be, shall pay
any and all reasonable costs and expenses incurred by the other party in
enforcing or establishing its rights hereunder, including court costs and
reasonable attorneys' fees.

    

    5.   Successors and Assigns. This
Agreement shall be binding upon each party hereto and its respective successors
and assigns.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    6.    Severability. If any term of
provision of this Agreement or any application thereof shall be held invalid or
unenforceable, the remainder of this Agreement and any other application of such
term or provision shall not be affected thereby.

    

    7.    Entire Agreement. This
Agreement constitutes the entire agreement of the parties with respect to the
subject matter hereof, and may not be changed or modified except by an agreement
in writing signed by the parties hereto. The Company and Caledonia hereby agree
that all prior or contemporaneous oral understandings, agreements or
negotiations relative to the subject matter hereof are merged into and revoked
by this Agreement.

    

    8.    Interpretation.
All provisions of this Agreement shall be interpreted according to their fair
meaning and shall not be strictly construed against any party.

    

    9.    Counterparts; Facsimile
Signature. This Agreement may be executed in one or more counterparts,
each of which shall be an original, but all of which, taken together, shall
constitute one agreement. An original signature or copy thereof transmitted by
facsimile shall constitute an original signature for purposes of this
Agreement.

    

     

    [Signatures
are set forth on the following page.]

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    IN WITNESS WHEREOF, the undersigned
have executed this Agreement as of the Effective
Date.

    

    COMPANY

    

    SteelCloud,
Inc.

    

    

    By: /s/ Brian H.
Hajost

    Name:
Brian H. Hajost

    Title:
President & CEO

    

    

    CALEDONIA

    

    Caledonia
Capital Corporation

    

    

    By:  /s/ Edward M.
Murchie

    Name:
Edward M. Murchie

    Title:
President

     

    
      
         

      

      
        6

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