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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001001614-08-000041.txt : 20080603
<SEC-HEADER>0001001614-08-000041.hdr.sgml : 20080603
<ACCEPTANCE-DATETIME>20080603144026
ACCESSION NUMBER:		0001001614-08-000041
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20080603
DATE AS OF CHANGE:		20080603
EFFECTIVENESS DATE:		20080603

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TENGASCO INC
		CENTRAL INDEX KEY:			0001001614
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				870267438
		STATE OF INCORPORATION:			TN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-151383
		FILM NUMBER:		08877112

	BUSINESS ADDRESS:	
		STREET 1:		10215 TECHNOLOGY DRIVE
		STREET 2:		SUITE 301
		CITY:			KNOXVILLE
		STATE:			TN
		ZIP:			37932
		BUSINESS PHONE:		865-675-1554

	MAIL ADDRESS:	
		STREET 1:		10215 TECHNOLOGY DRIVE
		STREET 2:		SUITE 301
		CITY:			KNOXVILLE
		STATE:			TN
		ZIP:			37932
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>seight_registration.htm
<DESCRIPTION>S-8 REGISTRATION STATEMENT
<TEXT>
<html>
    <head>
        <title></title>
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<body text="#000000" vlink="#800000" link="#0000ff" bgcolor="#ffffff">
        <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 14pt; COLOR: #000000">UNITED STATES SECURITIES AND EXCHANGE
        COMMISSION</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="COLOR: #000000">WASHINGTON, D.C. 20549</font></b></p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 18pt; COLOR: #000000">FORM S-8</font></b></p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="COLOR: #000000">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
        1933</font></b></p>

        <p style="BORDER-TOP: #000000 0.8pt solid; MARGIN-TOP: 16pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 3pt; COLOR: #000000">&nbsp;</font></b></p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="center">
        <b><font style="FONT-SIZE: 24pt; COLOR: #000000">TENGASCO, INC.</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <font style="FONT-SIZE: 10pt; COLOR: #000000">(Exact Name of Registrant as Specified in Its
        Charter)</font></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="bottom" width="47%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font></p>
                </td>

                <td valign="bottom" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font></p>
                </td>

                <td valign="bottom" width="47%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 10pt; COLOR: #000000">Tennessee</font></b><br>
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">(State or Other Jurisdiction
                    of<br>
                     Incorporation or Organization)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 10pt; COLOR: #000000">87-0267438</font></b><br>
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">(I.R.S. Employer<br>
                     Identification No.)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 10pt; COLOR: #000000">10215 Technology Drive
                    N.W.<br>
                     Knoxville, Tennessee</font></b><br>
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">(Address of Principal Executive
                    Offices)</font></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 10pt; COLOR: #000000">37932-3379</font></b><br>
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">(Zip Code)</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 10pt; COLOR: #000000">TENGASCO, INC. STOCK INCENTIVE
        PLAN</font></b><br>
        <font style="FONT-SIZE: 10pt; COLOR: #000000">(Full Title of the Plan)<br>
         Jeffrey R. Bailey<br>
         Tengasco, Inc.<br>
         10215 Technology Drive N.W.<br>
         Knoxville, Tennessee 37932-3379<br>
         (Name and Address of Agent for Service)<br>
         (865)&nbsp;675-1554<br>
         (Telephone Number, Including Area Code, of Agent for Service)</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 10pt; COLOR: #000000">Indicate by check mark whether the registrant
        is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
        reporting company. See the definitions of &ldquo;large accelerated filer,&rdquo;
        &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b- 2
        of the Exchange Act.</font><br>
        &nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="19%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Large accelerated filer</font>
                    <font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'WINGDINGS'">o</font></p>
                </td>

                <td valign="top" width="34%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">&nbsp;</font></p>
                </td>

                <td valign="top" width="24%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Accelerated filer</font>
                    <font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'WINGDINGS'">o</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="53%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Non-accelerated filer</font>
                    <font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'WINGDINGS'">o</font>
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">&nbsp;(Do not check if a smaller
                    reporting company)</font></p>
                </td>

                <td valign="top" width="24%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Smaller reporting company</font>
                    <font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'WINGDINGS'">x</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 10pt; COLOR: #000000">CALCULATION OF REGISTRATION
        FEE</font></b></p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: #000000 0.8pt; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="middle" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Title of securities</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">to be registered</font></p>
                </td>

                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: #000000 0.8pt; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="middle" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Amount to be</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">registered (1)</font></p>
                </td>

                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: #000000 0.8pt; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="middle" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Proposed maximum</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">offering price per</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">share (2)</font></p>
                </td>

                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: #000000 0.8pt; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="middle" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Proposed maximum</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">aggregate offering</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">price (2)</font></p>
                </td>

                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: #000000 0.8pt; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="middle" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Amount of</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">registration fee (2)</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: medium none; BACKGROUND: #ccffcc; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">Common Stock</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">$0.001 par value</font></p>
                </td>

                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: medium none; BACKGROUND: #ccffcc; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="top" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="COLOR: #000000">&nbsp;</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">3,500,000</font></p>
                </td>

                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: medium none; BACKGROUND: #ccffcc; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="top" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="COLOR: #000000">&nbsp;</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">$ 1.19</font></p>
                </td>

                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: medium none; BACKGROUND: #ccffcc; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="top" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="COLOR: #000000">&nbsp;</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">$ 4,165,000</font></p>
                </td>

                <td style="BORDER-RIGHT: #000000 0.8pt; BORDER-TOP: medium none; BACKGROUND: #ccffcc; BORDER-LEFT: #000000 0.8pt; BORDER-BOTTOM: #000000 0.8pt solid" valign="top" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="COLOR: #000000">&nbsp;</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">$ 163.68</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">(1)</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">This amounts results from an
                    increase to the number of shares reserved for issuance under the Tengasco, Inc.
                    Stock Incentive Plan, which was previously approved by the Registrant&rsquo;s
                    Board of Directors and stockholders. Pursuant to Rule 416 under the Securities
                    Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), this Registration
                    Statement shall also cover any additional shares that may become issuable under
                    the Tengasco, Inc. Stock Incentive Plan through the operation of anti-dilution
                    provisions.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">(2)</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 10pt; COLOR: #000000">The proposed maximum offering
                    price per share and the proposed maximum aggregate offering price have been
                    estimated solely for the purpose of calculating the registration fee pursuant
                    to paragraphs (c) and (h)(1) of Rule 457 promulgated under the Securities Act,
                    based upon the average of the high and low prices of the Registrant&rsquo;s
                    Common Stock as quoted on the American Stock Exchange on June 2,
                    2008.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p></p>





        <p></p>

        <p style="MARGIN-TOP: 18pt; FONT-WEIGHT: bold; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px" align="center">
        <b>PART I</b></p>

        <p style="MARGIN-TOP: 18pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="COLOR: #000000">INFORMATION REQUIRED IN THE SECTION 10(a)
        PROSPECTUS</font></b></p>

        <p style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tengasco, Inc. (the
        &ldquo;Registrant&rdquo;) has sent or given or will send or give documents containing the
        information specified by Part&nbsp;I of this Form S-8 Registration Statement (the
        &ldquo;Registration Statement&rdquo;) to participants in the plan to which this
        Registration Statement relates, as specified in Rule&nbsp;428(b)(1) promulgated by the
        Securities and Exchange Commission (the &ldquo;Commission&rdquo;) under the Securities Act
        of 1933, as amended (the &ldquo;Securities Act&rdquo;). The Registrant is not filing such
        documents with the SEC, but these documents constitute (along with the documents
        incorporated by reference into the Registration Statement pursuant to Item&nbsp;3 of
        Part&nbsp;II hereof) a prospectus that meets the requirements of Section 10(a) of the
        Securities Act.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>PART II<br>
        &nbsp;<br>
         INFORMATION REUIRED IN THE REGISTRATION STATEMENT<br>
        &nbsp;</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>Item 3. Incorporation of Documents by Reference.</b></p>

        <p></p>

        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font> The following
        documents, which have been filed with the Commission by Registrant, are incorporated by
        reference in this Registration Statement, as of their respective dates:</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="top" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">(a)</font></p>
                </td>

                <td valign="top" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">The Registrant&rsquo;s Annual Report on Form 10-K
                    for the fiscal year ended December 31,
                    2007</font><b><font style="COLOR: #000000">;</font></b></p>
                </td>
            </tr>

            <tr>
                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="top" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">(b)</font></p>
                </td>

                <td valign="top" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">The Registrant&rsquo;s Current Reports on Form 8-K
                    and 8-K/A filed February 2, 2008;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="1%">&nbsp;</td>

                <td valign="top" width="3%">&nbsp;</td>

                <td valign="top" width="1%">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    (c)</p>
                </td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The Registrant&rsquo;s Current Report on Form 8-K filed June 2, 2008;</p>
                </td>
            </tr>

            <tr>
                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="top" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">(d)</font></p>
                </td>

                <td valign="top" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">The Registrant&rsquo;s Quarterly Report on Form
                    10-Q for the quarter ended March 31, 2008 filed May 14, 2008;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="middle">&nbsp;</td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    (e)</p>
                </td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">The description of Registrant&rsquo;s common stock
                    contained in the Registration Statement on Form&nbsp;10-SB filed August 8, 1997
                    (File No. 000-29386) and any amendment or report filed with the Commission for
                    the purpose of updating such description.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to
        Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended
        (the &ldquo;Exchange Act&rdquo;), subsequent to the date hereof and prior to the filing of
        a post-effective amendment which indicates that all securities offered hereby have been
        sold or which deregisters all securities remaining unsold shall be deemed to be
        incorporated by reference herein and to be a part hereof from the respective dates of
        filing of such documents.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="left">
        Any statement contained in a document incorporated or deemed to be incorporated by
        reference herein shall be deemed to be modified or superseded for purposes of this
        Registration Statement to the extent that a statement contained herein, (or in any other
        subsequently filed document which also is incorporated or deemed to be incorporated by
        reference herein), modifies or supersedes such statement. Any such statement so modified or
        superseded shall not be deemed, except as so modified or superseded, to constitute a part
        of this Registration Statement.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>Item 4. Description of Securities.</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="left">
        Not applicable.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>Item 5. Interests of Named Experts and Counsel.</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="left">
        Not applicable.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>Item 6. Indemnification of Directors and Officers.</b></p>

        <p></p>

        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="left">
        The Registrant is a Tennessee corporation. <font style="COLOR: #000000">The Tennessee
        Business Corporation Act (&ldquo;TBCA&rdquo;) provides that a corporation may indemnify any
        of its directors and officers against liability incurred in connection with a proceeding if
        (i)&nbsp;the director or officer acted in good faith, (ii)&nbsp;in the case of conduct in
        his or her official capacity with the corporation, the director or officer reasonably
        believed such conduct was in the corporation&rsquo;s best interest, (iii)&nbsp;in all other
        cases, the director or officer reasonably believed that his or her conduct was not opposed
        to the best interest of the corporation, and (iv)&nbsp;in connection with any criminal
        proceeding, the director or officer had no reasonable cause to believe that his or her
        conduct was unlawful. In actions brought by or in the right of the corporation, however,
        the TBCA provides that no indemnification may be made if the director or officer is
        adjudged to be liable to the corporation. In cases where the director or officer is wholly
        successful, on the merits or otherwise, in the defense of any proceeding instigated because
        of his or her status as a director or officer of a corporation, the TBCA mandates that the
        corporation indemnify the director or officer against reasonable expenses incurred in the
        proceeding unless the charter limits such indemnification. Notwithstanding the foregoing,
        the TBCA provides that a court of competent jurisdiction, upon application, may order that
        a director or officer be indemnified for reasonable expenses if, in consideration of all
        relevant circumstances, the court determines that such individual is fairly and reasonably
        entitled to indemnification, whether or not the standard of conduct set forth above was
        met.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="left">
        <font style="COLOR: #000000">Neither the Registrant&rsquo;s Charter nor its Bylaws contain
        any provision limiting the Registrant&rsquo;s statutory authority to indemnify any person
        under the Tennessee Business Corporation Act or otherwise.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px; FONT-FAMILY: 'COURIER NEW'" align="left">
        <font style="FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">The
        Registrant&rsquo;s
        B</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'TIMES NEW ROMAN'">oard of Directors on
        August 17, 1995, unanimously resolved to indemnify directors and executive officers on a
        mandatory basis to the fullest extent of the laws referenced above for the entire period a
        party is subject to any possible legal action or claim by reason of having so served. That
        resolution remains in force and effect.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 18px" align="left">
        <font style="FONT-SIZE: 12pt">The Tennessee Business Corporation Act authorizes a
        corporation to purchase and maintain insurance against liability asserted against or
        incurred by its directors, officers, agents and employees in that capacity or arising from
        the individual&rsquo;s status as director, officer, employee, or agent. The insuring of the
        directors, officers, agents and employees is permitted whether or not the Registrant would
        have the power to indemnify that director, officer, agent or employee under its charter or
        the terms of the Tennessee Business Corporation Act. The Registrant has accordingly
        obtained directors&rsquo; and officers&rsquo; liability insurance, the effect of which is
        to indemnify the directors and officers of the Registrant against certain damages and
        expenses because of certain claims made against them caused by their negligent act, error
        or omission as more fully stated in the terms of the policy of insurance.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 12pt; COLOR: #000000">Item 7. Exemption from Registration
        Claimed.</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="left">
        <font style="COLOR: #000000">None.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="COLOR: #000000">Item 8. Exhibits.</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 18px" align="left">
        The following exhibits are filed with or incorporated by reference into this Registration
        Statement.</p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="67">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">4.1</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="523">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Tengasco, Inc. Stock Incentive Plan, as
                    Amended</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="67">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">5.1</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="523">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Opinion of Law Offices of Kenneth N.
                    Miller</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="67">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">23.1</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="523">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Consent of Rodefer Moss &amp; Co, PLLC</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="67">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">23.2</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="523">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Consent of Law Offices of Kenneth N. Miller
                    (contained in Exhibit 5.1 to this Registration Statement)</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="67">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">24.1</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="523">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Power of Attorney (contained on the signature
                    pages of this Registration Statement)</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="COLOR: #000000">Item 9. Undertakings.</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font> (a)&nbsp;The
        undersigned registrant hereby undertakes:</p>

        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.2in" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are
        being made, a post-effective amendment to this Registration Statement:<br>
        </p>

        <p></p>

        <table>
            <tr>
                <td width="48">
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">
                    <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in" align="left">
                    To include any prospectus required by Section&nbsp;10(a)(3) of the Securities
                    Act;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1in; TEXT-INDENT: -36px" align="left">
        <font style="FONT-SIZE: 12pt">(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To reflect in the
        prospectus any facts or events arising after the effective date of the Registration
        Statement (or the most recent post-effective amendment thereof) which, individually or in
        the aggregate, represent a fundamental change in the information set forth in the
        Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume
        of securities offered (if the total dollar value of securities offered would not exceed
        that which was registered) and any deviation from the low or high end of the estimated
        maximum offering range may be reflected in the form of prospectus filed with the Commission
        pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no
        more than a 20% change in the maximum aggregate offering price set forth in the
        &ldquo;Calculation of Registration Fee&rdquo; table in the effective Registration
        Statement; and</font></p>

        <p style="MARGIN-TOP: 6pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1in; TEXT-INDENT: -47px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any material
        information with respect to the plan of distribution not previously disclosed in the
        Registration Statement or any material change to such information in the Registration
        Statement;</p>

        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.2in" align="left">Provided,
        however, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information
        required to be included in a post-effective amendment by those paragraphs is contained in
        periodic reports filed with or furnished to the Commission by the registrant pursuant to
        Section&nbsp;13 or Section 15(d) of the Exchange Act that are incorporated by reference in
        the Registration Statement.<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under
        the Securities Act, each such post-effective amendment shall be deemed to be a new
        Registration Statement relating to the securities offered therein, and the offering of such
        securities at that time shall be deemed to be the initial bona fide offering thereof.<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective
        amendment any of the securities being registered which remain unsold at the termination of
        the offering.</p>

        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that,
        for purposes of determining any liability under the Securities Act, each filing of the
        registrant&rsquo;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange
        Act that is incorporated by reference in the Registration Statement shall be deemed to be a
        new Registration Statement relating to the securities offered therein, and the offering of
        such securities at that time shall be deemed to be the initial bona fide offering
        thereof.<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising
        under the Securities Act may be permitted to directors, officers and controlling persons of
        the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been
        advised that in the opinion of the Commission such indemnification is against public policy
        as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
        claim for indemnification against such liabilities (other than the payment by the
        registrant of expenses incurred or paid by a director, officer or controlling person of the
        registrant in the successful defense of any action, suit or proceeding) is asserted by such
        director, officer or controlling person in connection with the securities being registered,
        the registrant will, unless in the opinion of its counsel the matter has been settled by
        controlling precedent, submit to a court of appropriate jurisdiction the question whether
        such indemnification by it is against public policy as expressed in the Securities Act and
        will be governed by the final adjudication of such issue.<br>
        </p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p></p>

        <p style="MARGIN-TOP: 18pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>SIGNATURES</b></p>

        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933,
        the registrant certifies that it has reasonable grounds to believe that it meets all of the
        requirements for filing on Form S-8 and has duly caused this registration statement to be
        signed on its behalf by the undersigned, thereunto duly authorized in the City of
        Knoxville, State of Tennessee, on June 2, 2008.</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="middle" width="48%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle" width="35%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle" width="15%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>TENGASCO, INC.</b><br>
                    &nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    By&nbsp;&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="middle" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    /s/ Jeffrey R. Bailey &nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Jeffrey R. Bailey&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td valign="middle" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Chief Executive Officer&nbsp;</p>
                </td>

                <td valign="middle">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p></p>

        <p style="MARGIN-TOP: 18pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="COLOR: #000000">POWER OF ATTORNEY</font></b></p>

        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="COLOR: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS,
        each person whose signature appears below hereby constitutes and appoints Jeffrey R. Bailey
        and Cary V. Sorensen, or either of them, his or her true and lawful attorneys-in-fact and
        agents, with full power of substitution and resubstitution, for him or her and in his or
        her name, place, and stead, in any and all capacities, to sign any and all amendments
        (including without limitation, post-effective amendments) to this Registration Statement,
        and to file the same, with all exhibits thereto, and other documents in connection
        therewith, with the Securities and Exchange Commission, granting unto said
        attorneys-in-fact and agents full power and authority to do and perform each and every act
        and thing requisite and necessary to be done in and about the premises, as fully to all
        intents and purposes as he or she might or could do in person, hereby ratifying and
        confirming all that said attorneys-in-fact and agents or any of them, or their substitute
        or substitutes, may lawfully do or cause to be done by virtue hereof.</font></p>

        <p style="MARGIN-TOP: 6pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this
        Registration Statement has been signed by the following persons in the capacities and on
        the dates indicated.</p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="638" border="0">
            <tr>
                <td valign="top" width="213">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <b>Signature</b></p>
                </td>

                <td valign="top" width="236">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <b>Title</b></p>
                </td>

                <td valign="top" width="189">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <b>Date</b></p>
                </td>
            </tr>

            <tr style="HEIGHT: 39.1pt">
                <td valign="top" width="213">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <u>s/Jeffrey R. Bailey</u></p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Jeffrey R. Bailey<br>
                    &nbsp;</p>
                </td>

                <td valign="top" width="236">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Director;</p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Chief Executive Officer</p>
                </td>

                <td valign="top" width="189">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    June 2, 2008</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="213">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <u>s/Matthew K. Behrent</u></p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Matthew K. Behrent<br>
                    &nbsp;</p>
                </td>

                <td valign="top" width="236">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Director</p>
                </td>

                <td valign="top" width="189">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    June 2, 2008</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="213">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <u>s/John A. Clendening</u></p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    John A. Clendening<br>
                    &nbsp;</p>
                </td>

                <td valign="top" width="236">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Director</p>
                </td>

                <td valign="top" width="189">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    June 2, 2008</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="213">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <u>s/Carlos P. Salas</u></p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Carlos P. Salas<br>
                    &nbsp;</p>
                </td>

                <td valign="top" width="236">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Director</p>
                </td>

                <td valign="top" width="189">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    June 2, 2008</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="213">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <u>s/Peter E. Salas</u></p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Peter E. Salas<br>
                    &nbsp;</p>
                </td>

                <td valign="top" width="236">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Director</p>
                </td>

                <td valign="top" width="189">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    June 2, 2008</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="213">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <u>s/Mark A. Ruth</u></p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Mark A. Ruth</p>
                </td>

                <td valign="top" width="236">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Principal and Financial</p>

                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    Accounting Officer</p>
                </td>

                <td valign="top" width="189">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    June 2, 2008</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 16pt; COLOR: #000000">EXHIBIT INDEX</font></b></p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="91">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="COLOR: #000000">Exhibit Number</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="499">
                    <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px" align="left">
                    <b>Description</b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="91">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">4.1</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="499">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Tengasco, Inc. Stock Incentive Plan, as
                    Amended</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="91">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">5.1</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="499">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Opinion of Law Offices of Kenneth N.
                    Miller</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="91">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">23.1</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="499">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Consent of Rodefer Moss PLLC</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="91">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">23.2</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="499">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Consent of Law Offices of Kenneth N. Miller
                    (contained in Exhibit 5.1 to this Registration Statement)</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="91">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">24.1</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="499">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="COLOR: #000000">Power of Attorney (contained on the signature
                    pages of this Registration Statement)</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p></p>
    </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>kenmiller_consent.htm
<DESCRIPTION>EXHIBIT 5.1 OPINION OF LAW OFFICES OF KENNETH N. MILLER
<TEXT>
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        <title></title>
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    <body text="#000000" vlink="#800000" link="#0000ff" bgcolor="#ffffff">
        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>
        Exhibit 5.1</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        [Letterhead of Law Offices of Kenneth N. Miller]</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
        <font style="FONT-SIZE: 11pt">June 2, 2008<br>
        Tengasco, Inc.<br>
        10215 Technology Drive N.W.<br>
        Knoxville, Tennessee 37932-3379<br>
        &nbsp;<br>
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re:</font>
        <i><font style="FONT-SIZE: 11pt">Tengasco, Inc.</font></i><br>
        &nbsp;<br>
        <font style="FONT-SIZE: 11pt">Gentlemen:<br>
        &nbsp;<br>
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have acted as counsel to Tengasco, Inc., a Tennessee
        corporation (the "Company"), in connection with a registration statement on Form S-8 (the
        "Registration Statement"), to be filed with the Securities and Exchange Commission for the
        purpose of registering an additional 3,500,000 shares (the "Shares") of common stock, $.001
        par value per share (the "Common Stock"), of the Company under the Securities Act of 1933,
        as amended (the "Act"), to be issued in accordance with the amendment on February 1, 2008
        of the Tengasco, Inc. Stock Incentive Plan (the "Plan") by the Company&rsquo;s Board of
        Directors.<br>
        &nbsp;<br>
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As counsel for the Company, we are familiar with the
        Certificate of Incorporation and By-Laws of the Company, and all amendments thereto. We are
        also familiar with the form of the Company's stock certificate, and the Plan pursuant to
        which shares of Common Stock are to be issued, as well as all corporate proceedings taken
        by the Company in connection with the authorization of the issuance of the Shares.
        Throughout such examination we have assumed the genuineness of signatures and accuracy and
        conformity to original documents of all copies of documents supplied to us. As to questions
        of fact material to the opinion expressed herein, we have, when relevant facts were not
        independently determinable, relied upon information furnished to us by officers and
        directors of the Company or their duly authorized agents or employees.<br>
        &nbsp;<br>
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based upon the foregoing, it is our opinion that the Shares
        being registered pursuant to the Registration Statement, when issued and paid for under the
        Plan, in accordance with the terms of the Plan, will be duly authorized, validly issued,
        fully paid and non-assessable.<br>
        &nbsp;<br>
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the filing of this opinion as an
        exhibit to the Registration Statement.<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Very
        truly yours,<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Law
        Offices of Kenneth N. Miller<br>
        &nbsp;<br>
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
        <u><font style="FONT-SIZE: 11pt">s/Kenneth N. Miller</font></u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By:
        Kenneth N. Miller</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>

         &nbsp;</font></p>

        <p></p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>rodeferconsent.htm
<DESCRIPTION>EXHIBIT 23.1 CONSENT OF RODEFER MOSS & CO.
<TEXT>
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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>
        Exhibit 23.1</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>Consent of Independent Registered Public Accountants</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the incorporation by reference in this
        Registration Statement on Form S-8 of our report dated March 27, 2008 relating to the
        financial statements and management&rsquo;s assessment of the effectiveness of internal
        control over financial reporting, which is included in Tengasco, Inc.&rsquo;s Annual Report
        on Form 10-K for the year ended December 31, 2007.<br>
        &nbsp;<br>
        /s/Rodefer Moss &amp; Co, PLLC<br>
        Knoxville, Tennessee<br>
        June 3, 2008</p>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>exhibit4_1stockplan.htm
<DESCRIPTION>EXHIBIT 4.1 TENGASCO, INC. STOCK INCENTIVE PLAN AS AMENDED
<TEXT>
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        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <font style="FONT-FAMILY: 'COURIER NEW'">-1-<br>
        &nbsp;</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 14pt">TENGASCO, INC. STOCK INCENTIVE PLAN</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 14pt">AS AMENDED</font></b><br>
        <br>
        &nbsp;<br>
        <br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 1</b><br>
        <br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>The Plan</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Name</font>. The name of this Plan is the Tengasco, Inc. Stock Incentive Plan.<br>
        <br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1in; TEXT-INDENT: -36px" align="justify">
        1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">Purpose and
        Scope</font>.</p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purposes of the Plan are to (i) attract and retain the
        best available personnel for positions of substantial responsibility, (ii) encourage
        ownership of the Company's common stock by Employees of the Company (and any current or
        future Parent or Subsidiary of the Company), (iii) encourage ownership of the Company's
        common stock by the Company&rsquo;s Directors (and any current or future Parent or
        Subsidiary of the Company), and (iv) promote the Company's business success by creating a
        long-term mutuality of interests between its Employees, non-employee Directors, other Plan
        participants and the Company&rsquo;s shareholders.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        Plan provides for the granting of (i) Incentive Stock Options, Nonqualified Stock Options
        and stock appreciation rights (&ldquo;SARs&rdquo;) to Employees; and, (ii) Nonqualified
        Stock Options and SARs to non-employee Directors of the Company and Consultants to the
        Company.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Effective Date and Duration of Plan</font>. This Plan is effective for a ten-year period
        commencing on February 1, 2008, and ending on January 31, 2018, provided that options and
        SARs granted under the Plan prior to the termination date shall continue to be exercisable
        in accordance with the terms of the Agreement granting such option or SAR beyond
        termination of the Plan.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 2</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>Definitions</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized terms in this Plan shall have the following
        meanings (unless the context plainly requires that a different meaning apply):<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Act</font>. The Securities Act of 1933, as amended from time to time, or any replacement
        legislation.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2
        <font style="BORDER-BOTTOM-STYLE: solid">Agreement</font>. Written agreement between the
        Company and the Recipient granting the option or SAR to the Recipient.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="justify">
        2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">Board</font>. The
        Board of Directors of the Company.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Code</font>. The Internal Revenue Code of 1986, as amended from time to time, or any
        replacement legislation and regulations promulgated thereunder.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5
        <font style="BORDER-BOTTOM-STYLE: solid">Committee</font>. The stock option or compensation
        committee appointed by the Board, if one is appointed. If no Committee has been appointed,
        the term Committee shall mean the Board. The Committee shall consist solely of two or more
        Non-Employee Directors as that term is defined under Regulation 240.16b-3 promulgated by
        the Securities and Exchange Commission.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Common Stock</font>. The Company&rsquo;s $.001 par value common stock.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Company</font>. Tengasco, Inc. and any successor to such corporation, whether by merger,
        consolidation, liquidation or otherwise.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Consultant</font>. Any person engaged by the Company (or any Parent or Subsidiary) as a
        non-employee service provider pursuant to the terms of a written contract.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Director</font>. Any duly elected member of the Board.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Disability</font>. Permanent and total disability within the meaning of Section 22(e)(3) of
        the Code.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Employee</font>. All persons employed by the Company or any Parent or Subsidiary, including
        officers, whether full-time or part-time.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Exchange Act</font>. The Securities Exchange Act of 1934, as amended from time to time, or
        any replacement legislation.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Fair Market Value</font>. The closing price per share of Common Stock on the American Stock
        Exchange or nationally recognized securities exchange on which the stock is listed. If the
        stock is not listed on a generally recognized securities exchange, Fair Market Value shall
        be determined by the Committee in good faith, using such criteria as the Committee may, in
        its sole discretion, deem appropriate.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Incentive Stock Option</font>. Any stock option granted under this Plan which is intended
        to qualify as an &ldquo;incentive stock option&rdquo; within the meaning of Section 422 of
        the Code.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Nonqualified Stock Option</font>. Any stock option granted under this Plan which is not
        intended to qualify as an Incentive Stock Option.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Optioned Shares</font>. Those Shares subject to a stock option granted pursuant to this
        Plan.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Parent</font>. A parent corporation, whether now or hereafter existing, within the meaning
        of Section 424(e) of the Code.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Plan</font>. The Tengasco, Inc. Stock Incentive Plan, as amended from time to time.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19
        <font style="BORDER-BOTTOM-STYLE: solid">Recipient</font>. An individual who has received a
        stock option or SAR pursuant to this Plan.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Share</font>. One share of the Company&rsquo;s Common Stock, as adjusted in accordance with
        Section 5.7 of this Plan.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        SAR</font>. A stock appreciation right which entitles the holder upon exercise of that
        right to the product of (a)&nbsp;the excess of the Fair Market Value of one Share on the
        date of exercise over the price per share established by the Committee (in its sole
        discretion) for the grant and (b) the number of Shares subject to the grant, payable in
        either Shares, cash or a combination of the two, as provided in Section 5.4(b).<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Subsidiary</font>. A subsidiary corporation, whether now or hereafter existing, within the
        meaning of Section 424(f) of the Code.<br>
        <br>
        &nbsp;<br>
        <br>
        &nbsp;<br>
        <br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 3<br>
        <br>
        Plan Administration</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Administration</font>.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        Plan shall be administered by the Committee. The Committee shall have the authority, in its
        sole discretion, including, but not limited to, determining the individuals who shall
        receive options and SARs; the times when they shall receive them; whether an option shall
        be an Incentive or a Nonqualified Stock Option; whether an SAR shall be granted separately,
        in tandem with or in addition to an option; the number of shares to be subject to each
        option and SAR; the term of each option and SAR; the date each option and SAR shall become
        exercisable; whether an option or SAR shall be exercisable in whole, in part or in
        installments, and if in installments, the number of shares to be subject to each
        installment; whether the installments shall be cumulative, the date each installment shall
        become exercisable and the term of each installment; whether to accelerate the date of
        exercise of any installment; whether shares may be issued on exercise of an option as
        partly paid, and, if so, the dates when future installments of the exercise price shall
        become due and the amounts of such installments; the exercise price of each option and the
        base price of each SAR; the form of payment of the exercise price; the form of payment by
        the Company upon the Recipient's exercise of an SAR; whether to require that the Recipient
        remain in the employ of the Company or its Subsidiary for a period of time from and after
        the date the option or SAR is granted to him; the amount necessary to satisfy the Company's
        obligation to withhold taxes; whether to restrict the sale or other disposition of the
        shares of Common Stock acquired upon the exercise of an option and to waive any such
        restriction; to subject the exercise of all or any portion of an option or SAR to the
        fulfillment of contingencies as specified in the Agreement, including without limitations,
        contingencies relating to financial objectives (such as earnings per share, cash flow
        return, return on investment or growth in sales) for a specified period for the Company,
        and/or the period of continued employment of the Recipient with the Company or its
        Subsidiary, and to determine whether such contingencies have been met; to construe the
        respective Agreements granting such options and SARs; with the consent of the Recipient, to
        cancel or modify an option or SAR, provided such option or SAR as modified would be
        permitted to be granted on such date under the terms of the Plan; and to make all other
        determinations necessary or advisable for administering the Plan. The determinations of the
        Committee on the matters referred to herein shall be conclusive.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options and SARs granted under this Plan shall be evidenced
        by duly adopted resolutions of the Committee included in the minutes of the meeting at
        which they are adopted or in a unanimous written consent.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee shall endeavor to administer the Plan and grant
        options and SARs hereunder in a manner that is compatible with the obligations of persons
        subject to Section 16 of the Exchange Act, although compliance with Section 16 is the
        obligation of the Recipient, not the Company. Neither the Committee, the Board, nor the
        Company can assume any legal responsibility for a Recipient&rsquo;s compliance with his
        obligations under Section 16 of the Exchange Act.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No member of the Committee or the Board shall be liable for
        any action taken or determination made in good faith with respect to the Plan or any option
        or SAR granted hereunder.<br>
        <br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 4<br>
        <br>
        Eligibility For Grants</b></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Eligibility and Terms of Grants</font>.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee shall have full discretionary authority to
        determine the persons eligible to receive an option or SAR.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In determining the persons to whom options or SARs shall be
        granted and the number of shares to be covered by each option or SAR, the Committee shall
        take into account the duties of the respective persons, their past, present and potential
        contributions to the success of the Company, and such other factors as the Committee shall
        deem relevant to accomplish the purposes of the Plan.<br>
        <br>
        </p>
        <!-- CONTINUOUS SECTION BREAK -->

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <font style="FONT-FAMILY: 'COURIER NEW'">-1-<br>
        &nbsp;</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Recipient shall be eligible to receive more than one grant
        of an option or SAR during the term of the Plan, on the terms and subject to the
        restrictions set forth herein.
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Granting of Options</font>.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        granting of any option or SAR shall be entirely in the discretion of the Committee and
        nothing in the Plan shall be construed as giving any Employee, Director or Consultant any
        right to participate under this Plan or to receive any option or right under it.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        Committee may, in its sole discretion, accept the cancellation of outstanding options or
        SARs in return for the grant of new options or SARs for the same or different number and at
        the same or different option price.</p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 5</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>General Provisions</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Stock Subject to Plan</font>.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        stock subject to options or SARs hereunder shall be shares of Common Stock. Such shares, in
        whole or part, may be authorized but unissued shares, reacquired shares or both. The
        aggregate number of shares of Common Stock as to which options and SARs may be granted from
        time to time under the Plan shall not exceed 7,000,000, subject to adjustment as provided
        in Section 5.7 hereof. The Company shall at all times during the term of the Plan reserve
        and keep available such number of shares of Common Stock as will be sufficient to satisfy
        the requirements of the Plan<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
        shares subject to an option or SAR which for any reason expire, are canceled or are
        terminated unexercised (other than those which expire, are canceled or terminated pursuant
        to the exercise of a tandem SAR or option) shall again become available for the granting of
        options or SARs under the Plan. The number of shares of Common Stock underlying that
        portion of an option or SAR which is exercised (regardless of the number of shares actually
        issued) shall not again become available for grant under the Plan.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Terms and Conditions; Agreements</font>. Each option or SAR granted under this Plan shall
        be evidenced by a written agreement (the &ldquo;Agreement&rdquo;) between the Company and
        the Recipient. The Agreement shall be in the form determined by the Committee in its
        discretion and shall be subject to such amendment or modification from time to time as the
        Committee shall deem necessary or appropriate to comply with or take advantage of
        applicable laws or regulations. Each Agreement shall specifically identify the portion, if
        any, of the option which constitutes an Incentive Stock Option and the portion, if any,
        which constitutes a Nonqualified Stock Option. Each Agreement shall comply with and be
        subject to the following terms and conditions:<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">Number of
        Shares</font>. Each Agreement shall state the number of shares covered by the option or
        SAR.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">Exercise Price and
        Base Price</font>.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)
        Each Agreement shall state the exercise price for the option or the base price for the SAR
        which price shall be determined by the Committee.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)
        The date on which the Committee adopts a resolution expressly granting an option or SAR
        shall be considered the day on which such option or SAR is granted, unless a future date is
        specified in the resolution, and the Fair Market Value of the Common Stock to which such
        option or SAR relates shall be determined at the close of the day on which the resolution
        is adopted, unless another value and/or another date is specified in the resolution.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">Term</font>. Each
        Agreement shall state the period during and times at which the option or SAR shall be
        exercisable, in accordance with the following limitations:<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)
        The date on which the Committee adopts a resolution expressly granting an option or SAR
        shall be considered the day on which such option or SAR is granted, although such grant
        shall not be effective until the Recipient has executed an Agreement with respect to such
        option or SAR.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)
        Subject to the provisions of section 7.4 hereof, the exercise period of any option or SAR
        shall not exceed ten (10) years from the date of the grant of the option or SAR.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)
        The Committee shall have the authority to accelerate or extend the exercisability of any
        outstanding option or SAR at such time and under such circumstances as it, in its sole
        discretion, deems appropriate. No exercise period may be so extended to increase the term
        of an option or SAR beyond ten (10) years from the date of the grant.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)
        The exercise period shall be subject to earlier termination as provided in Sections 5.5 and
        5.6 hereof, and furthermore, shall be terminated upon surrender of the option or SAR by the
        Recipient if such surrender has been authorized in advance by the Committee.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Notice of Intent to Exercise Option or SAR</font>. An option or SAR granted under the Plan
        may be exercised in whole or in part by notifying the Company (or its designee) in the
        manner and upon the terms as may be provided in the Agreement.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Exercise of Option or SAR</font>.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
        receipt by the Company (or its designee) of the notice provided in Section 5.3, an option
        shall deemed to be exercised as to the number of Shares specified in such notice and Shares
        in that amount shall be issued to the Recipient upon payment to the Company of the amount
        specified in Section 6.2 or 7.5, whichever is applicable. The option purchase price shall
        be paid in full upon exercise unless the Agreement permits installment payments. The
        purchase price for the option shall be paid in cash, or in shares of Common Stock having a
        Fair Market Value equal to such option price, or in property or in a combination of cash
        shares and property and, subject to approval of the Committee, may be effected in whole or
        in part with funds received from the Company at the time of exercise as a compensatory cash
        payment. The Committee shall have the sole and absolute discretion to determine whether or
        not property other than cash or Common Stock may be used to purchase the Optioned
        Shares.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
        receipt by the Company (or its designee) of the notice provided in Section 5.3 of the
        exercise of a SAR, the SAR shall deemed to be exercised as to the number of Shares
        specified in the notice and the Committee shall (as it may determine in its sole
        discretion) issue to the Recipient either (1) Shares of Common Stock based on the Fair
        Market Value on the date of payment (with any fractional Shares to be paid in cash), (2)
        cash or (3) a combination of Shares and cash, equal in value (in United States dollars) to
        the amount payable under the SAR. Any cash payment to be made by the Company under this
        Section may, as determined by the Committee in its sole discretion, be payable in
        installments over a period of no more than 6 months.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Termination.</font> Except as provided herein or in the Agreement, an option or SAR may not
        be exercised unless the Recipient then is an Employee or Director of or consultant to the
        Company (or a corporation or a parent or subsidiary corporation of such corporation issuing
        or assuming the option or SAR in a transaction to which Section 424(a) of the Code
        applies), and unless the Recipient has remained continuously as an Employee or officer or
        Director or consultant to the Company since the date of grant of the option or SAR.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
        otherwise provided in the Agreement, if the Recipient ceases to be an Employee or Director
        of, or consultant to, the Company (other than by reason of death, Disability or
        retirement), all options and SARs theretofore granted to such Recipient that are
        exercisable at the time of such cessation may, unless earlier terminated in accordance with
        their terms, be exercised within three months after such cessation; provided, however, that
        if the employment or consulting relationship of a Recipient shall terminate, or if a
        Director shall be removed, for cause<sub>,</sub> all options and SARs theretofore granted
        to such Recipient shall to the extent not previously exercised, terminate immediately. Any
        such determination by the Committee as to whether termination is for cause shall be final
        and biding upon the Recipient.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options
        and SARs granted under the Plan shall not be affected by any change in the status of a
        Recipient so long as he continues to be associated with the Company or its Subsidiary.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        Nothing in the Plan or in any Option or SAR granted hereunder shall confer upon a Recipient
        any right to continue in the employ of or maintain any other relationship with the Company
        or interfere in any way with the right of the Company to terminate such employment or other
        relationship between the Recipient and the Company.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 <font style="BORDER-BOTTOM-STYLE: solid">Death,
        Disability or Retirement</font> <font style="BORDER-BOTTOM-STYLE: solid">of
        Recipient.</font> Unless otherwise provided in the Agreement, if a Recipient shall die
        while an Employee or Director of or a consultant to the Company, or if the Recipient's
        employment, officer status or consulting relationship shall terminate by reason of
        Disability or retirement, all options or SARs theretofore granted to such Recipient,
        whether or not otherwise exercisable, unless earlier terminated in accordance with their
        terms, may be exercised by the Recipient or by the Recipient&rsquo;s estate or by a person
        who acquired the right to exercise such options or SARs by bequest or inheritance or
        otherwise by reason of the death or Disability of the Recipient, at any time within one
        year after the date of death, Disability or retirement of the Recipient; provided, however,
        that in the case of Incentive Stock Options such one-year period shall be limited to three
        months in the case of retirement.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6
        <font style="BORDER-BOTTOM-STYLE: solid">Non-Transferability of Options; Restrictions on
        Transferability</font> .<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
        option or SAR granted under the Plan shall be transferable otherwise than by will or the
        laws of descent and distribution, or qualified domestic relations order as defined in the
        Code or Title I of the Employee Retirement Income Security Act, and options and SARs may be
        exercised, during the lifetime of the holder thereof, only by him or his legal
        representatives. Notwithstanding the foregoing, at the discretion of the Committee,
        Nonqualified Stock Options may be transferred in a transaction for estate planning
        purposes.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
        attempted sale, pledge, assignment, hypothecation or other transfer of an option contrary
        to the provisions hereof and/or the levy of any execution, attachment or similar process
        upon an option, shall be null and void and without force or effect and shall result in a
        termination of the option.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
        a condition to the transfer of any shares of Common Stock issued upon exercise of an option
        granted under this Plan, the Company may require an opinion of counsel, satisfactory to the
        Company, to the effect that such transfer will not be in violation of the Act or any other
        applicable securities laws or that such transfer has been registered under Federal and all
        applicable state securities laws. Further, the Company shall be authorized to refrain from
        delivering or transferring shares of Common Stock issued under this Plan until the
        Committee determines that such delivery or transfer will not violate applicable securities
        laws and the Recipient has tendered to the Company any Federal, state or local tax owed by
        the Recipient as a result of exercising the Option or SAR or disposing of any Common Stock
        when the Company has a legal liability to satisfy such tax. The Company shall not be liable
        for damages due to delay in the delivery or issuance of any stock certificate for any
        reason whatsoever, including, but not limited to, a delay caused by listing requirements of
        any securities exchange or any registration requirements under the Act, the Exchange Act,
        or under any other state, federal or provincial law, rule or regulation. The Company is
        under no obligation to take any action or incur any expense in order to register or qualify
        the delivery or transfer of shares of Common Stock under applicable securities laws or to
        perfect any exemption from such registration or qualification. Furthermore, the Company
        will not be liable to any Recipient for failure to deliver or transfer shares of Common
        Stock if such failure is based upon the provisions of this paragraph.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Recapitalization; Effect of Other Changes</font>.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
        to any required action by the shareholders of the Company, the aggregate number of Shares
        for which options may be granted hereunder, the number of Shares covered by any outstanding
        option or SAR, and the price per Share thereof under each such option or SAR shall be
        proportionately adjusted for the following: (a) any dividend or other distribution declared
        as to Common Stock which is payable in Shares: and (b) an increase or decrease in the
        number of outstanding shares of Common Stock resulting from a stock split or reverse split
        of shares, recapitalization or other capital adjustment. All fractional Shares or other
        securities which result from such an adjustment shall be eliminated and not carried forward
        to any subsequent adjustment.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
        the event of the proposed dissolution or liquidation of the Company, or any corporate
        separation or division, including, but not limited to, split-up, split-off or spin-off, or
        a merger or consolidation of the Company with another corporation, the Committee may
        provide that the holder of each option and SAR then exercisable shall have the right to
        exercise such Option or SAR (at its then current exercise price) solely for the kind and
        amount of shares of stock and other securities, property, cash or any combination thereof
        receivable upon such dissolution, liquidation, corporate separation or division, or merger
        or consolidation by a holder of the number of Shares of Common Stock for which such option
        or SAR might have been exercised immediately prior to such dissolution, liquidation,
        corporate separation or division, or merger or consolidation.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paragraph
        (b) of this Section 5.7 shall not apply to a merger or consolidation in which the Company
        is the surviving corporation and shares of Common Stock are not converted into or exchanged
        for stock, securities of any other corporation, cash or any other thing of value.
        Notwithstanding the preceding sentence, in case of any consolidation or merger of another
        corporation into the Company in which the Company is the surviving corporation and in which
        there is a reclassification or change (including a change to the right to receive cash or
        other property) of the Shares of Common Stock (excluding a change in par value, or from no
        par value to par value, or any change as a result of a subdivision or combination, but
        including any change in such Shares into two or more classes or series of shares), the
        Committee may provide that the Recipient of each option or SAR then exercisable shall have
        the right to exercise such option or SAR solely for the kind and amount of shares of stock
        and other securities (including those of any new direct or indirect parent of the Company),
        property, cash or any combination thereof receivable upon such reclassification, change,
        consolidation or merger by the holder of the number of shares of Common Stock for which
        such option or SAR might have been exercised.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
        as expressly provided in this Section 5.7, the Recipient shall have no rights by reason of
        any subdivision or consolidation of shares of stock of any class other than the
        Company&rsquo;s Common Stock, or the payment of any stock dividend or any other increase or
        decrease in the number of shares of stock of any class other than the Company&rsquo;s
        Common Stock, or by reason of any dissolution, liquidation, merger, or consolidation or
        spin-off of assets or stock of another corporation; and any issue by the Company of shares
        of stock of any class, or securities convertible into shares of stock of any class, other
        than the Company&rsquo;s Common Stock, shall not affect, and no adjustment by reason
        thereof shall be made with respect to, the number or price of shares of Common Stock
        subject to an option or SAR. The grant of an option or SAR pursuant to the Plan shall not
        affect in any way the right or power of the Company to make adjustments, reclassifications,
        reorganizations or changes of its capital or business structures, or to merge or
        consolidate, or to dissolve, liquidate, or sell or transfer all or any part of its business
        or assets.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
        the extent that the foregoing adjustments relate to stock or securities of the Company,
        such adjustments shall be made by the Committee, whose determination in that respect shall
        be final, binding and conclusive, provided that each Incentive Stock Option granted
        pursuant to this Plan shall not be adjusted in a manner that causes such option to fail to
        continue to qualify as an Incentive Stock Option within the meaning of Section 422 of the
        Code.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8
        <font style="BORDER-BOTTOM-STYLE: solid">No Rights As a Shareholder; Non-Distributive
        Intent</font>.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
        a Recipient of an option, nor such Recipient's legal Representative, heir, legatee or
        distributee, shall be deemed to be the holder of, or to have any rights of a holder with
        respect to any shares subject to such option until after the option is exercised and the
        shares are issued.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
        adjustment shall be made for dividends (ordinary or extraordinary, whether in cash,
        securities or other property) or distributions or other rights for which the record date is
        prior to the date such stock certificate is issued, except as provided in Section 5.7
        hereof.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
        exercise of an option at a time when there is no registration statement in effect under the
        Act relating to the shares issuable upon exercise, Shares may be issued to the Recipient
        only if the Recipient represents and warrants in writing to the Company that the shares
        purchased are being acquired for investment and not with a view to the distribution thereof
        and provides the Company with sufficient information to establish an exemption from the
        registration requirements of the Act.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9
        <font style="BORDER-BOTTOM-STYLE: solid">Conversion of Outstanding Options to SARs</font>.
        The Company may, in its sole discretion and without the consent of the Recipient, elect at
        any time to convert any option granted under the Plan to a SAR. In the event of such an
        election, any converted SAR shall remain in effect until the option involved would have
        expired under the terms of the Agreement with the Recipient. The base price of such SAR
        shall be determined using the Fair Market Value of the Shares subject to the option on the
        date the option was first granted. Notice of such an election shall be provided to the
        Recipient as soon as feasible after the date of the election.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Withdrawal</font>. A Recipient may at any time elect in writing to abandon an option or SAR
        with respect to the number of Shares as to which the option or SAR shall not have been
        exercised.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Compliance with Applicable Laws and Articles of Incorporation</font>.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        Company shall have the right to place appropriate legends upon the certificate for any
        Shares issued pursuant to this Plan and take such other acts as it may deem necessary or
        appropriate to ensure that the issuance of Optioned Shares or the exercise of a SAR
        complies with applicable provisions of Federal and state securities laws.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        Company shall not be obligated to issue Shares under any option or in payment of any SAR
        granted under this Plan that would violate any law. Each Recipient may be required to make
        representations, enter into restrictive agreements, or take such other actions as may be
        deemed necessary or appropriate by the Company to ensure compliance with applicable law and
        the Company&rsquo;s Articles of Incorporation and By-laws.<br>
        <br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 6</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>Special Rules for Nonqualified Stock Options</b></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Option Price</font>. The purchase price of Shares subject to a Nonqualified Stock Option
        shall be determined by the Committee at the time the option is granted; provided, that the
        purchase price shall not be less than 85% of the Fair Market Value of such Shares on the
        date of the grant.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Payment Upon Exercise of Option</font>. The amount to be paid by the Recipient upon
        exercise of a Nonqualified Stock Option shall be the full purchase price for the Shares
        involved provided in the Agreement to be paid in the manner determined by the Committee,
        together with the amount of any required federal, state, and local tax withholding (as
        determined by the Committee in its sole discretion). The Committee may, in its sole
        discretion, permit a Recipient to elect to pay the required tax withholding by having the
        Company withhold Shares having a Fair Market Value at the time of exercise equal to the
        amount required to be withheld. An election by a Recipient to have shares withheld for this
        purpose will (together with such additional restrictions as the Company may impose) be
        subject to the following:<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
        a Recipient has received multiple option grants, a separate election must be made for each
        grant;<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        election must be made prior to the date the option is exercised;<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        election will be irrevocable;<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        election may be rejected by the Company;<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
        the Recipient is an "officer" of the Company within the meaning of Section 16 of the
        Exchange Act ("Section 16") as defined in Rule 16a-1(f) promulgated by the Securities
        Exchange Commission, the election may not be made within six months following the grant of
        the option; and,<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Recipient is an "officer" of the Company within the
        meaning of Section 16, the election must be made either six months prior to the day the
        option is exercised or during the period beginning on the third business day following the
        date of release of the Company's quarterly or annual summary statement of sales and
        earnings and ending on the twelfth business day following such date.<br>
        <br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 7</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>Special Rules for Incentive Stock Options</b></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Conformance With Code Requirements</font>. Incentive Stock Options granted under this Plan
        shall conform to, be governed by, and be interpreted in accordance with Section 422 of the
        Code and any regulations thereunder including, without limitation, those provisions of
        Section 422 of the Code that prohibit an option by its terms to be exercisable after ten
        (10) years from the date that it was granted. All Incentive Stock Options granted under the
        Plan shall at the time of the grant be specifically designated as such in the Agreement.
        Only Employees may be granted Incentive Stock Options. To the extent that any option
        granted as an Incentive Stock Option fails to conform to the applicable requirements, it
        shall be treated and honored by the Company as a Nonqualified Stock Option.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Option Price</font>. The purchase price of each Share optioned under the Incentive Stock
        Option provisions of this Plan shall be determined by the Board in its sole discretion but
        shall, in no event, be less than the Fair Market Value on the date of grant.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Limitation on Amount of Incentive Stock Option</font>. The aggregate Fair Market Value
        (determined on the date of grant) of the Shares with respect to which Incentive Stock
        Options are exercisable for the first time during any calendar year under all plans of the
        Company (and any Parent or Subsidiary) shall not exceed $100,000 (or such other limit as
        may be established by law from time to time).<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Limitation on Grants to Substantial Shareholders</font>. An Employee may not, immediately
        prior to the grant of an Incentive Stock Option hereunder, own stock in the Company
        representing more than ten percent (10%) of the total voting power of all classes of stock
        of the Company (after taking into account the attributions rules of Section 424(d) of the
        Code) unless the per share option price specified by the Board for the Incentive Stock
        Options granted such an Employee is at least one hundred ten percent (110%) of the Fair
        Market Value of the Company's stock on the date of grant and such option, by its terms, is
        not exercisable after the expiration of five (5) years from the date such option is
        granted. For purposes of this limitation, Section 424(d) of the Code governs the attributes
        of stock ownership.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Payment upon Exercise of Option</font>. The amount to be paid by the Recipient upon
        exercise of an Incentive Stock Option shall be the full purchase price thereof provided in
        the Agreement to be paid in the manner determined by the Committee.<br>
        <br>
        &nbsp;<br>
        <br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 8Amendment and Termination</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Amendment</font>.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        Committee shall have the right to amend the Plan at any time and from time to time;
        provided, that no such amendment of the Plan shall, without stockholder approval, (1)
        increase the number of shares which may be issued under the Plan as set forth in Section
        5.1, (2) change in any way the class of employees eligible to receive Incentive Stock
        Options under the Plan, (3) extend the duration of the Plan, or (4) be effective if
        stockholder approval of the amendment is required at such time in order for the
        Plan&rsquo;s stock options or SARs to qualify for any available exemption from Section 16
        of the Exchange Act or by any other applicable law, regulation, rule of order.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
        amendment may be made that would cause options granted hereunder not to qualify as
        Incentive Stock Options under the Code or would cause options or SARs under the Plan not to
        qualify for exemption under Section 16 of the Exchange Act.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
        amendment of the Plan shall, without the written consent of the holder of an option or SAR
        awarded under the Plan prior to the date of the amendment or termination adversely affect
        the rights of such holder with respect to such option or SAR.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
        anything herein or in any Agreement to the contrary, the Committee shall have the power to
        amend the Plan in any manner deemed necessary or advisable for options or SARs granted
        under the Plan to qualify to be treated as Incentive Stock Options under the Code or for
        any exemption provided under Section 16 of the Exchange Act and any such amendment shall,
        to the extent deemed necessary or advisable by the Board, be applicable to any outstanding
        stock options previously granted under the Plan. In the event of such an amendment to the
        Plan, the holder of any option or SAR outstanding under the Plan shall, upon request of the
        Committee and as a condition for exercising of such option or SAR, execute a conforming
        amendment in the form prescribed by the Committee to the Agreement within such reasonable
        period of time as the Committee shall specify in such request.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Termination</font>. The Committee shall have the right to terminate the Plan at any time;
        provided, that no such termination shall terminate any outstanding option or SAR previously
        granted under the Plan or adversely affect the rights of such holder without his or her
        written consent. No new options or SARs may be granted under the Plan on or after the date
        of termination.<br>
        <br>
        &nbsp;</p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 9<br>
        <br>
        Foreign Employees, Directors and Consultants</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Option Grants to Foreign Nationals</font>. The Committee may grant Options and SARs under
        this Plan to eligible Employees, Directors or consultants who are foreign nationals on such
        additional or different terms and conditions as may in the judgment of the Committee, in
        its sole discretion, be necessary or appropriate to comply with the provisions of any
        applicable laws of a foreign country.</p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>ARTICLE 10Miscellaneous</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Adoption By Board; Approval of Shareholders</font>. This Plan was initially approved by the
        Board effective October 25, 2000 and approved by the shareholders of the Company within
        twelve (12) months of that date on June 26, 2001 as required by section 422(b) of the Code.
        Thereafter, an amendment to the Plan was approved by the Board on May 19, 2005 and the
        amendment was approved by the shareholders on July 19, 2005. A further amendment to the
        Plan was approved by the Board on February 1, 2008 and by the shareholders of the Company
        on June 2, 2008.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2
        <font style="BORDER-BOTTOM-STYLE: solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assumption</font>.
        Subject to the provisions of Section 5.7 hereof, the terms and conditions of any
        outstanding option or SAR granted pursuant to this Plan shall be assumed by, be binding
        upon and shall inure to the benefit of any successor corporation to the Company and shall,
        to the extent applicable, continue to be governed by the terms and conditions of this Plan.
        Such successor corporation may, but shall not be obligated to, assume this Plan.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Termination of Right of Action</font>. Every right of action arising out of or in
        connection with the Plan by or on behalf of the Company, or by any shareholder of the
        Company against any past, present or future member of the Board or the Committee, or
        against any Employee, or by an Employee (past, present or future) against the Company,
        irrespective of the place where an action may be brought and of the place of residence of
        any such shareholder, Director or Employee, will cease and be barred by the expiration of
        three (3) years from the date of the act or omission in respect of which such right of
        action is alleged to have arisen or such shorter period as may be provided by law.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Tax Litigation</font>. The Company shall have the right, but not the obligation, to
        contest, at its expense, any tax ruling or decision, administrative or judicial, on any
        issue which is related to the Plan and which the Committee believes to be important to
        holders of options and SARs granted under this Plan and to conduct any such contest or
        litigation arising therefrom to a final decision.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        No Restrictions On Adoption of Other Plans</font>. Nothing in this Plan shall restrict the
        Company's rights to adopt other option plans pertaining to any or all of the Employees,
        Directors or Consultants covered under this Plan or other Employees, Directors or
        Consultants not covered under this Plan.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b>
        10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">Costs And
        Expenses</font>. Except as provided herein, all costs and expenses of administering the
        Plan shall be paid by the Company.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Plan Unfunded</font>. This Plan shall be unfunded. Except for the Company's reservation of
        a sufficient number of authorized shares to the extent required by law to meet the
        requirements of the Plan, the Company shall not be required to establish any special or
        separate fund or to make any other segregation of assets to assure payment of any grant
        under the Plan.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Government Regulations</font>. The rights of Recipients and the obligations of the Company
        hereunder shall be subject to all applicable laws, rules, and regulations and to such
        approvals as may be required by any governmental agency.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Proceeds From Sale of Stock</font>. Proceeds of the purchase of Optioned Shares by a
        Recipient may be used by the Company for any business purpose.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Governing Law</font>. This Plan shall be governed by and construed in accordance with the
        laws of the State of Tennessee.<br>
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="BORDER-BOTTOM-STYLE: solid">
        Invalidity</font>. If any provision of the Plan shall be held invalid or unlawful for any
        reason, such event shall not affect or render invalid or unenforceable the remaining
        provisions of the Plan.<br>
        <br>
        &nbsp;<br>
        <br>
        &nbsp;<br>
        <br>
        &nbsp;</p>

        <p></p>

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