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<SEC-DOCUMENT>0001362310-09-003419.txt : 20090309
<SEC-HEADER>0001362310-09-003419.hdr.sgml : 20090309
<ACCEPTANCE-DATETIME>20090309140659
ACCESSION NUMBER:		0001362310-09-003419
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20090305
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090309
DATE AS OF CHANGE:		20090309

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARGAN INC
		CENTRAL INDEX KEY:			0000100591
		STANDARD INDUSTRIAL CLASSIFICATION:	CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700]
		IRS NUMBER:				131947195
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31756
		FILM NUMBER:		09665652

	BUSINESS ADDRESS:	
		STREET 1:		ONE CHURCH STREET SUITE 401
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		301 315-0027

	MAIL ADDRESS:	
		STREET 1:		ONE CHURCH STREET SUITE 401
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUROFLOW INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ULTRA DYNAMICS CORP
		DATE OF NAME CHANGE:	19830522
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c82223e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



<DIV style="font-size: 10pt">
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): March 5, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>ARGAN, INC.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>001-31756</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>13-1947195</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>One Church Street, Suite 201, Rockville, MD<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>20850</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(301) 315-0027</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>One Church Street, Suite 401, Rockville, MD<BR></B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<P>
<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="justify" style="font-size: 10pt"><B>Item&nbsp;5.02(c) Compensatory Arrangements of Certain Officers.</B>


<P align="justify" style="font-size: 10pt">On December&nbsp;8, 2006, Gemma Power Systems, LLC, a Connecticut limited liability company and a wholly-owned subsidiary of
Argan, Inc. (&#147;GPS LLC&#148;) entered into employment agreements with William F. Griffin, Jr.  and Joel M. Canino
(together the &#147;Employees&#148;). On March&nbsp;5, 2009, GPS LLC entered into a Second Amendment to
Employment Agreement with each of the Employees that renewed the term of each of the Employee&#146;s employment with GPS LLC
(commencing June&nbsp;8, 2009 and continuing through June&nbsp;7,
2012) and set forth the new terms of each Employee&#146;s duties,
salary, and bonus compensation. A copy of each such amendment is attached as <U>Exhibits 10.1</U> and <U>10.2</U> to
this Form 8-K.


<P align="justify" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>

<P align="justify" style="font-size: 10pt">(d)  Exhibits.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;No.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Description</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amendment to Employment Agreement between Gemma Power
Systems, LLC and William F. Griffin, Jr., dated March&nbsp;5, 2009</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amendment to Employment Agreement between Gemma Power
Systems, LLC and Joel M. Canino, dated March&nbsp;5, 2009</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Employment Agreement dated as of
December&nbsp;8, 2006, between Gemma Power Systems, LLC and William
F. Griffin, filed as an exhibit to the Registrant&#146;s Form 8-K
filed December&nbsp;14, 2006, and incorporated herein by reference</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Employment Agreement dated as of
December&nbsp;8, 2006, between Gemma Power Systems, LLC and Joel M.
Canino, filed as an exhibit to the Registrant&#146;s Form 8-K
filed December&nbsp;14, 2006, and incorporated herein by reference</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Amendment to the Employment Agreement of William
F. Griffin, dated February&nbsp;29, 2008, filed as an exhibit to the
Registrant&#146;s Form 8-K filed on March&nbsp;5, 2008 and
incorporated herein by reference</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Amendment to the Employment
Agreement of Joel M. Canino, dated February&nbsp;29, 2008, filed as an exhibit to the
Registrant&#146;s Form 8-K filed on March&nbsp;5, 2008 and
incorporated herein by reference</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="justify" style="font-size: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
<BR>
&nbsp;

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">ARGAN, INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;<BR>
&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;<BR>
&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;<BR>
&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: March&nbsp;9, 2009&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:&nbsp;&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Arthur F. Trudel</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Arthur F. Trudel, Senior Vice President and<br>
Chief Financial Officer</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>






<P align="center" style="font-size: 10pt">
- - 2 -

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>




<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;No.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Description</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amendment to Employment Agreement between Gemma Power
Systems, LLC and William F. Griffin, Jr., dated March&nbsp;5, 2009</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amendment to Employment Agreement between Gemma Power
Systems, LLC and Joel M. Canino, dated March&nbsp;5, 2009</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TR valign="bottom">
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Employment Agreement dated as of
December&nbsp;8, 2006, between Gemma Power Systems, LLC and William
F. Griffin, filed as an exhibit to the Registrant&#146;s Form 8-K
filed December&nbsp;14, 2006, and incorporated herein by reference</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Employment Agreement dated as of
December&nbsp;8, 2006, between Gemma Power Systems, LLC and Joel M.
Canino, filed as an exhibit to the Registrant&#146;s Form 8-K
filed December&nbsp;14, 2006, and incorporated herein by reference</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Amendment to the Employment Agreement of William
F. Griffin, dated February&nbsp;29, 2008, filed as an exhibit to the
Registrant&#146;s Form 8-K filed on March&nbsp;5, 2008 and
incorporated herein by reference</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Amendment to the Employment
Agreement of Joel M. Canino, dated February&nbsp;29, 2008, filed as an exhibit to the
Registrant&#146;s Form 8-K filed on March&nbsp;5, 2008 and
incorporated herein by reference</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt">- 3 -

<P align="center" style="font-size: 10pt; display: none">3




</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>c82223exv10w1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 10.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;10.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><U><B>SECOND AMENDMENT TO EMPLOYMENT AGREEMENT</B></U>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (this &#147;<U>Amendment</U>&#148;) is made and entered
into as of the 5th day of March, 2009, by and between GEMMA POWER SYSTEMS, LLC, a Connecticut
limited liability company (the &#147;<U>Company</U>&#148;), and WILLIAM F. GRIFFIN, JR. (the
&#147;<U>Employee</U>&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><U><B>RECITALS</B></U><B>:</B>
</DIV>



<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B>R-1. </B>The Employee is a principal employee of the Company;
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>R-2. </B>The Employee and the Company entered into that certain Employment Agreement dated as of
December&nbsp;8, 2006, as amended by that certain First Amendment thereto dated February&nbsp;8, 2008 (the
&#147;<U>Employment Agreement</U>&#148;); and
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>R-3. </B>The parties wish to enter into this Amendment to memorialize the extension of the term of
employment of the Employee and to further modify and amend its terms, as set forth hereinafter.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>NOW, THEREFORE</B>, in consideration of the foregoing premises, the mutual promises and covenants
set forth herein, and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties agree as follows:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>1.&nbsp;</B><U><B>Incorporation of Recitals; Defined Terms</B></U><B>. </B>The above Recitals are hereby
incorporated into the body of this Amendment as if fully set forth herein. Capitalized terms used
and not defined herein shall have the meaning ascribed to them in the Employment Agreement.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>2.&nbsp;</B><U><B>Renewal of Term</B></U><B>. </B>The Company and the Employee hereby agree that, notwithstanding
anything to the contrary contained in Section&nbsp;3 of the Employment Agreement:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>2.1 </B>the Term of Employee&#146;s employment under the Employment Agreement shall be extended for the
period of three (3)&nbsp;years, commencing June&nbsp;8, 2009 and continuing to June&nbsp;7, 2012 (the &#147;<U>Second
Renewal Term</U>&#148;); and
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>2.2 </B>the Employee shall have the right to extend the Term of Employee&#146;s employment under the
Employment Agreement for an additional period of three (3)&nbsp;years, commencing June&nbsp;8, 2012 and
continuing to June&nbsp;7, 2015 (the &#147;<U>Third Renewal Term</U>&#148;), by giving written notice to the
Company at least three (3)&nbsp;months prior to the expiration date of the Second Renewal Term (and the
automatic renewal provisions of Section&nbsp;3 of the Employment Agreement shall not apply with respect
to said Third Renewal Term or any one year term within said Third Renewal Term, the Company and the
Employee hereby waiving their rights to elect not to renew the term of the Employee&#146;s employment
with respect to said Third Renewal Term or any one year term within said Third Renewal Term per Section&nbsp;3 of the Employment Agreement);
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">in both cases unless earlier terminated as provided in the Employment Agreement, subject to and in
accordance with the terms and conditions of this Amendment. Any renewal of the Employee&#146;s term of
employment after the Third Renewal Term shall be governed by the provisions for automatic renewal
for successive one year terms in accordance with Section&nbsp;3 of the Employment Agreement.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>3.&nbsp;</B><U><B>Duties of the Employee</B></U><B>. </B>It is understood and agreed that, notwithstanding anything
to the contrary contained in the Employment Agreement, since the termination of employment by the
Company of Timothy Curran, the Employee has served, and during the Second Renewal Term the Employee
shall continue to serve, as the Chief Executive Officer of the Company, subject to the other terms
and conditions of the Employment Agreement, as amended by this Second Amendment.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B>4. </B><U><B>Compensation</B></U><B>.</B>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>4.1 </B><U><B>Salary</B></U><B>. </B>Notwithstanding anything to the contrary set forth in the Employment
Agreement, during the Second Renewal Term, the Company shall pay the Employee Salary at the annual
rate of $200,000, payable as set forth in the Employment Agreement.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>4.2 </B><U><B>Bonus</B></U><B>. </B>In addition to the Salary set forth in Section&nbsp;4.1, notwithstanding
anything to the contrary set forth in the Employment Agreement, for the fiscal year of the Company
ending January&nbsp;31, 2010, and for each fiscal year of the Company thereafter ending within the
Second Renewal Term:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 13%">(i)&nbsp;if the Adjusted EBITDA of the Companies (as defined in that certain Membership Interest
Purchase Agreement dated December&nbsp;8, 2006 by and among Argan, Inc., the Company, the Employee and
the other parties named therein) for such fiscal year exceeds $20,000,000<B>, </B>the Employee shall be
eligible for bonus compensation; and
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 13%">(ii)&nbsp;if the Adjusted EBITDA of the Companies for such fiscal year exceeds $25,000,000, the
Employee shall be eligible for additional bonus compensation;
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">in each case as determined by the Board of Directors of the Company (the &#147;<U>Company Board</U>&#148;)
based upon the Employee&#146;s contributions to the financial performance of the Company during such
fiscal year; subject, in each case, to such approvals as may, in the judgment of the Company Board,
be necessary or appropriate from the Board of Directors of Argan, Inc. (the &#147;<U>Argan Board</U>&#148;),
or from the Compensation Committee or other committees of the Argan Board.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>4.3 </B><U><B>Additional Bonus</B></U><B>. </B>In addition to the bonus compensation provided for in Section
4.2, the Employee shall also be eligible for such additional bonus(es) for such special or
extraordinary circumstances or occurrences as, in the sole discretion of the Company Board, may merit special consideration for the Employee, subject to such
approvals as may, in the judgment of the Company Board, be necessary or appropriate from the Argan
Board or from the Compensation Committee or other committees of the Argan Board.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>5.&nbsp;</B><U><B>Car Allowance</B></U><B>. </B>In addition to the payment for covered and reserved parking costs,
as set forth in Section&nbsp;8 of the Employment Agreement, the Company shall provide to the Employee a
car allowance in the amount of $1,500 per month, to be used by the Employee to defray the costs of
ownership, leasing, financing, maintenance and/or operation of a car or other vehicle.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>6.&nbsp;</B><U><B>COBRA Benefits</B></U><B>. </B>Should the Employee (i)&nbsp;be eligible for COBRA benefits (allowing
the Employee to maintain his health insurance benefits at his expense for up to the applicable
coverage period under COBRA) after the termination of his employment with the Company for reasons
other than gross misconduct, and (ii)&nbsp;make a timely affirmative election of continuation coverage
under COBRA, then the Company will pay the monthly premium costs thereof for coverage for the
Employee, and/or his spouse and dependent children, if any, for the period(s) for which the
Employee, or his spouse and any dependent children, as the case may be, are entitled to
continuation coverage under COBRA, or until the Employee, or his spouse or any dependent children,
as the case may be, become eligible for health insurance from another source other than Medicare
(e.g., another employer&#146;s health insurance program), if earlier.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>7.&nbsp;</B><U><B>Counterparts</B></U><B>. </B>This Amendment may be executed in one or more counterparts, each of
which shall be deemed to be an original but all of which together shall constitute one and the
same.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>8.&nbsp;</B><U><B>Continuation in Full Force and Effect</B></U><B>. </B>Except as specifically amended by this
Amendment, all of the terms, covenants and conditions of the Employment Agreement shall continue in
full force and effect.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>&#091;Signatures on following page&#093;</B>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>IN WITNESS WHEREOF</B>, each of the undersigned has executed, or has caused its duly authorized
representative to execute, this Amendment as of the date first above written.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>THE COMPANY</B>:<BR>
<BR>
<B>GEMMA POWER SYSTEMS, LLC</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Rainer H. Bosselmann
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Rainer H. Bosselmann&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chairman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>THE EMPLOYEE</B>:<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ William F. Griffin, Jr.
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>WILLIAM F. GRIFFIN, JR.</B>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>c82223exv10w2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 10.2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;10.2</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><U><B>SECOND AMENDMENT TO EMPLOYMENT AGREEMENT</B></U>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (this &#147;<U>Amendment</U>&#148;) is made and entered
into as of the 5<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day of March, 2009, by and between GEMMA POWER SYSTEMS, LLC, a
Connecticut limited liability company (the &#147;<U>Company</U>&#148;), and JOEL M. CANINO (the
&#147;<U>Employee</U>&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><U><B>RECITALS</B></U><B>:</B>
</DIV>



<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B>R-1. </B>The Employee is a principal employee of the Company;
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>R-2. </B>The Employee and the Company entered into that certain Employment Agreement dated as of
December&nbsp;8, 2006, as amended by that certain First Amendment thereto dated February&nbsp;8, 2008 (the
&#147;<U>Employment Agreement</U>&#148;); and
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>R-3. </B>The parties wish to enter into this Amendment to memorialize the extension of the term of
employment of the Employee and to further modify and amend its terms, as set forth hereinafter.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>NOW, THEREFORE</B>, in consideration of the foregoing premises, the mutual promises and covenants
set forth herein, and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties agree as follows:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>1.&nbsp;</B><U><B>Incorporation of Recitals; Defined Terms</B></U><B>. </B>The above Recitals are hereby
incorporated into the body of this Amendment as if fully set forth herein. Capitalized terms used
and not defined herein shall have the meaning ascribed to them in the Employment Agreement.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>2.&nbsp;</B><U><B>Renewal of Term</B></U><B>. </B>The Company and the Employee hereby agree that, notwithstanding
anything to the contrary contained in Section&nbsp;3 of the Employment Agreement:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>2.1 </B>the Term of Employee&#146;s employment under the Employment Agreement shall be extended for the
period of three (3)&nbsp;years, commencing June&nbsp;8, 2009 and continuing to June&nbsp;7, 2012 (the &#147;<U>Second
Renewal Term</U>&#148;); and
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>2.2 </B>the Employee shall have the right to extend the Term of Employee&#146;s employment under the
Employment Agreement for an additional period of three (3)&nbsp;years, commencing June&nbsp;8, 2012 and
continuing to June&nbsp;7, 2015 (the &#147;<U>Third Renewal Term</U>&#148;), by giving written notice to the
Company at least three (3)&nbsp;months prior to the expiration date of the Second Renewal Term (and the
automatic renewal provisions of Section&nbsp;3 of the Employment Agreement shall not apply with respect
to said Third Renewal Term or any one year term within said Third Renewal Term, the Company and the
Employee hereby waiving their rights to elect not to renew the term of the Employee&#146;s employment
with respect to said Third Renewal Term or any one year term within said Third Renewal Term per Section&nbsp;3 of the Employment Agreement);
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">in both cases unless earlier terminated as provided in the Employment Agreement, subject to and in
accordance with the terms and conditions of this Amendment. Any renewal of the Employee&#146;s term of
employment after the Third Renewal Term shall be governed by the provisions for automatic renewal
for successive one year terms in accordance with Section&nbsp;3 of the Employment Agreement.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B>3. </B><U><B>Compensation</B></U><B>.</B>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>3.1 </B><U><B>Salary</B></U><B>. </B>Notwithstanding anything to the contrary set forth in the Employment
Agreement, during the Second Renewal Term, the Company shall pay the Employee Salary at the annual
rate of $200,000, payable as set forth in the Employment Agreement.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>3.2 </B><U><B>Bonus</B></U><B>. </B>In addition to the Salary set forth in Section&nbsp;3.1, notwithstanding
anything to the contrary set forth in the Employment Agreement, for the fiscal year of the Company
ending January&nbsp;31, 2010, and for each fiscal year of the Company thereafter ending within the
Second Renewal Term:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 13%">(i)&nbsp;if the Adjusted EBITDA of the Companies (as defined in that certain Membership Interest
Purchase Agreement dated December&nbsp;8, 2006 by and among Argan, Inc., the Company, the Employee and
the other parties named therein) for such fiscal year exceeds $20,000,000<B>, </B>the Employee shall be
eligible for bonus compensation; and
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 13%">(ii)&nbsp;if the Adjusted EBITDA of the Companies for such fiscal year exceeds $25,000,000, the
Employee shall be eligible for additional bonus compensation;
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">in each case as determined by the Board of Directors of the Company (the &#147;<U>Company Board</U>&#148;)
based upon the Employee&#146;s contributions to the financial performance of the Company during such
fiscal year; subject, in each case, to such approvals as may, in the judgment of the Company Board,
be necessary or appropriate from the Board of Directors of Argan, Inc. (the &#147;<U>Argan Board</U>&#148;),
or from the Compensation Committee or other committees of the Argan Board.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%"><B>3.3 </B><U><B>Additional Bonus</B></U><B>. </B>In addition to the bonus compensation provided for in Section
3.2, the Employee shall also be eligible for such additional bonus(es) for such special or
extraordinary circumstances or occurrences as, in the sole discretion of the Company Board, may
merit special consideration for the Employee, subject to such approvals as may, in the judgment of
the Company Board, be necessary or appropriate from the Argan Board or from the Compensation
Committee or other committees of the Argan Board.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>4.&nbsp;</B><U><B>Car Allowance</B></U><B>. </B>In addition to the payment for covered and reserved parking costs,
as set forth in Section&nbsp;8 of the Employment Agreement, the Company shall provide to the Employee a car allowance in the amount of $1,500 per month, to be used by the
Employee to defray the costs of ownership, leasing, financing, maintenance and/or operation of a
car or other vehicle.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>5.&nbsp;</B><U><B>Transfer of Key-Man Life Insurance Policy</B></U><B>. </B>Upon the Employee&#146;s execution of this
Amendment, the Company will submit to the insurance company issuing the key-man term life insurance
policy on the life of the Employee described in Section&nbsp;5.2 of the Employment Agreement (the
&#147;<U>Term Life Policy</U>&#148;) all documentation, reasonably required by the insurer, and take all
other actions reasonably required by the insurer, to transfer ownership of the Term Life Policy to
the Employee. The Employee agrees to cooperate with the Company to accomplish such transfer and,
on the effective date of such transfer, to pay the Company the amount of the prepaid premium for
the Term Life Policy for the period following the effective date of transfer.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>6.&nbsp;</B><U><B>COBRA Benefits</B></U><B>. </B>Should the Employee (i)&nbsp;be eligible for COBRA benefits (allowing
the Employee to maintain his health insurance benefits at his expense for up to the applicable
coverage period under COBRA) after the termination of his employment with the Company for reasons
other than gross misconduct, and (ii)&nbsp;make a timely affirmative election of continuation coverage
under COBRA, then the Company will pay the monthly premium costs thereof for coverage for the
Employee, and/or his spouse and dependent children, if any, for the period(s) for which the
Employee, or his spouse and any dependent children, as the case may be, are entitled to
continuation coverage under COBRA, or until the Employee, or his spouse or any dependent children,
as the case may be, become eligible for health insurance from another source other than Medicare
(e.g., another employer&#146;s health insurance program), if earlier.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>7.&nbsp;</B><U><B>Counterparts</B></U><B>. </B>This Amendment may be executed in one or more counterparts, each of
which shall be deemed to be an original but all of which together shall constitute one and the
same.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>8.&nbsp;</B><U><B>Continuation in Full Force and Effect</B></U><B>. </B>Except as specifically amended by this
Amendment, all of the terms, covenants and conditions of the Employment Agreement shall continue in
full force and effect.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>&#091;Signatures on following page&#093;</B>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><B>IN WITNESS WHEREOF</B>, each of the undersigned has executed, or has caused its duly authorized
representative to execute, this Amendment as of the date first above written.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>THE COMPANY</B>:<BR>
<BR>
<B>GEMMA POWER SYSTEMS, LLC</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Rainer H. Bosselmann
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Rainer H. Bosselmann&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chairman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>THE EMPLOYEE</B>:<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Joel M. Canino
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>JOEL M. CANINO</B>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>




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