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Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001206774-10-001059.txt : 20100428
<SEC-HEADER>0001206774-10-001059.hdr.sgml : 20100428
<ACCEPTANCE-DATETIME>20100428080038
ACCESSION NUMBER:		0001206774-10-001059
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20100617
FILED AS OF DATE:		20100428
DATE AS OF CHANGE:		20100428
EFFECTIVENESS DATE:		20100428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MECHANICAL TECHNOLOGY INC
		CENTRAL INDEX KEY:			0000064463
		STANDARD INDUSTRIAL CLASSIFICATION:	MEASURING & CONTROLLING DEVICES, NEC [3829]
		IRS NUMBER:				141462255
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06890
		FILM NUMBER:		10775178

	BUSINESS ADDRESS:	
		STREET 1:		431 NEW KARNER ROAD
		STREET 2:		BUILDING #4
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12205
		BUSINESS PHONE:		5185332200

	MAIL ADDRESS:	
		STREET 1:		431 NEW KARNER ROAD
		STREET 2:		BUILDING #4
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12205
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>mti_def14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<html>
<head>
    <title>mti_def14a.htm</title>
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<body bgcolor="#ffffff"><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">SCHEDULE 14A<br></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">INFORMATION REQUIRED IN PROXY STATEMENT</font></font><font size="2" style="FONT-FAMILY: serif"><br>SCHEDULE 14A INFORMATION</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Proxy Statement Pursuant to Section 14(a) of
the Securities</font></font><font size="2" style="FONT-FAMILY: serif"><br></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Exchange Act of 1934</font></font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">Filed by the
Registrant <font size="2" style="FONT-FAMILY: wingdings">x<br></font></font><font size="2" style="FONT-FAMILY: serif">Filed by a Party other than the Registrant
<font size="2" style="FONT-FAMILY: wingdings">o</font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; ">
<tr valign="bottom">
            <td align="left" colspan="2" nowrap valign="top" width="99%"><font size="2" style="FONT-FAMILY: serif">Check the appropriate box:</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
            <td align="left" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">Preliminary proxy statement</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
            <td align="left" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">Confidential, for Use of the Commission
      Only (as permitted by Rule 14a-6(e)(2))</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">x<font style="FONT-FAMILY: times new roman">&#160;</font></font></td>
            <td align="left" nowrap valign="top" width="98%"><font size="2">Definitive proxy
      statement</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
            <td align="left" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">Definitive additional
  materials</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
            <td align="left" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">Soliciting material pursuant to Rule
      14a-11(c) or Rule 14a-12</font></td>
          </tr></table>
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: serif">MECHANICAL TECHNOLOGY,
INCORPORATED</font></font></font><br><font size="2" style="FONT-FAMILY: serif">(NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" colspan="5" nowrap valign="top" width="99%"><font size="2" style="FONT-FAMILY: serif">Payment of filing fee (Check the
      appropriate box):</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">x<font style="FONT-FAMILY: times new roman">&#160;</font></font></td>
            <td align="left" colspan="4" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">No fee required.</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="4" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif"><font style="FONT-FAMILY: wingdings">o</font>&#160;Fee computed on table below
      per Exchange Act rules 14a-6(i)(4) and 0-11.</font></td>
          </tr><tr>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="4" nowrap valign="top" width="98%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td align="left" nowrap valign="top" width="1%">&#160;&#160;&#160;&#160;&#160;
    </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%"><font size="2" style="FONT-FAMILY: serif">Title of each class of securities to
      which transaction applies:</font></td>
          </tr><tr>
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">(2)</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%"><font size="2" style="FONT-FAMILY: serif">Aggregate number of securities to which
      transaction applies:</font></td>
          </tr><tr>
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">(3)</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%"><font size="2" style="FONT-FAMILY: serif">Per unit price or other underlying value
      of transaction computed pursuant to Exchange Act Rule 0-11:</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%">&#160;</td>
            <td align="left" nowrap valign="top" width="1%">&#160;</td>
            <td align="left" colspan="2" nowrap valign="top" width="96%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">(4)</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%"><font size="2" style="FONT-FAMILY: serif">Proposed maximum aggregate value of
      transaction:</font></td>
          </tr><tr>
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">(5)</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%"><font size="2" style="FONT-FAMILY: serif">Total fee paid:</font></td>
          </tr><tr>
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%">&#160;</td>
            <td align="left" colspan="4" nowrap valign="top" width="98%"><font style="FONT-FAMILY: serif">&#160;</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
            <td align="left" colspan="4" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">Fee paid previously with preliminary
      materials.</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
            <td align="left" colspan="4" valign="top" width="98%">
              <div align="justify"><font size="2" style="FONT-FAMILY: serif">Check box if
      any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2)
      and identify the filing for which the offsetting fee was paid previously.
      Identify the previous filing by registration statement number, or the form
      or schedule and the date of its filing.</font></div>
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%">&#160;</td>
            <td align="left" colspan="4" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%"><font size="2" style="FONT-FAMILY: serif">Amount Previously Paid:</font></td>
          </tr><tr>
            <td align="right" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="49%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
            <td align="left" nowrap valign="top" width="47%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">(2)</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%"><font size="2" style="FONT-FAMILY: serif">Form, Schedule or Registration Statement
      No.:</font></td>
          </tr><tr>
            <td align="right" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="49%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
            <td align="left" nowrap valign="top" width="47%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">(3)</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%"><font size="2" style="FONT-FAMILY: serif">Filing Party:</font></td>
          </tr><tr>
            <td align="right" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="49%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
            <td align="left" nowrap valign="top" width="47%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">(4)</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" colspan="2" nowrap valign="top" width="96%"><font size="2" style="FONT-FAMILY: serif">Date Filed:</font></td>
          </tr><tr>
            <td align="right" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap valign="top" width="49%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
            <td align="left" nowrap valign="top" width="47%">&#160;</td>
          </tr></table>
    </div><br>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><img src="mti_def14a1x3x1.jpg" alt=""> </div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">MECHANICAL TECHNOLOGY, INCORPORATED<br>431 NEW
KARNER ROAD<br></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">ALBANY, NEW YORK 12205</font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">NOTICE OF ANNUAL MEETING OF
STOCKHOLDERS</font></font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">To the Stockholders
of Mechanical Technology, Incorporated:</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">NOTICE IS HEREBY GIVEN that the 2010 Annual
Meeting of Stockholders (the &#8220;Annual Meeting&#8221;) of Mechanical Technology,
Incorporated, a New York corporation (the &#8220;Company&#8221;), will be held on Thursday,
June 17, 2010, at 10:00 a.m., local time, at the Company&#8217;s corporate
headquarters located at 431 New Karner Road, Albany, New York 12205, for the
following purposes:</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">1.</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160; </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">To
      elect two Directors to hold office until the Company&#8217;s 2013 Annual Meeting
      of Stockholders and until such Director&#8217;s successor is duly elected and
      qualified.</font></td>
          </tr><tr>
            <td nowrap>&#160;</td>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">2.</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">To
      ratify the appointment of PricewaterhouseCoopers LLP as our independent
      auditor for fiscal year 2010.</font></td>
          </tr><tr>
            <td nowrap>&#160;</td>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">3.</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">To
      transact such other business as may properly come before the
      meeting.</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Board of Directors has fixed the close of
business on April 19, 2010 as the record date for determining stockholders
entitled to notice of, and entitled to vote at, the Annual Meeting and any
adjournments or postponements thereof. Only holders of the Company&#8217;s common
stock of record at the close of business on that date will be entitled to notice
of, and to vote at, the Annual Meeting and any adjournments or postponements
thereof.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Board of Directors recommends that you
vote in favor of the proposal for the election of the nominees as Directors of
the Company and for the ratification of PricewaterhouseCoopers, LLP as our
independent auditors, as described in the accompanying proxy statement, and for
any such other matters as may be submitted to you for a vote at the
meeting.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Your participation in the Company&#8217;s affairs is
important regardless of the number of shares you hold. To ensure your
representation at the Annual Meeting, the Company urges you to mark, sign, date
and return the enclosed proxy card promptly, even if you anticipate attending in
person. If you attend the Annual Meeting, you will, of course, be entitled to
vote in person.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In the event that there are insufficient
shares to be voted in favor of the foregoing proposal at the time of the Annual
Meeting, the Annual Meeting may be adjourned in order to permit further
solicitation of proxies.</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">By Order of the Board
of Directors,</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td nowrap width="49%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: serif">/s/ PENG K. LIM</font></font></td>
            <td nowrap width="50%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">/s/ FREDERICK W. JONES</font></td>
          </tr><tr valign="bottom">
            <td nowrap width="49%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></td>
            <td nowrap width="50%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Frederick W. Jones</font></td>
          </tr><tr valign="bottom">
            <td nowrap width="49%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Chief Executive Officer</font></td>
            <td nowrap width="50%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Acting Chief Financial
  Officer</font></td>
          </tr></table>
    </div><br>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">Albany, New
York<br>May 3, 2010</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Your vote is important. Whether or not you
intend to be present at the meeting, please mark, sign, and date the enclosed
proxy and return it in the enclosed envelope to assure that your shares are
represented at the meeting. If you attend the meeting, you may vote in person if
you wish to do so, even if you have previously submitted your
proxy.</font></font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Important Notice Regarding the Availability of
Proxy Materials for the Stockholder Meeting to Be Held on June 17, 2010: The
proxy statement and annual report to stockholders are available at
http://www.amstock.com/proxyservices/viewmaterial.asp?CoNumber=15895</font></font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><img src="mti_def14a1x4x1.jpg" alt=""> </div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">MECHANICAL TECHNOLOGY, INCORPORATED<br>431 NEW
KARNER ROAD<br></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">ALBANY, NEW YORK 12205</font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">PROXY STATEMENT</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">This proxy statement (the &#8220;Proxy Statement&#8221;)
is furnished in connection with the solicitation of proxies by the Board of
Directors (the &#8220;Board&#8221;) of Mechanical Technology, Incorporated, a New York
corporation (referred to in this proxy as the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;us&#8221; or &#8220;MTI&#8221;),
to be voted at the 2010 Annual Meeting of Stockholders of the Company (the
&#8220;Annual Meeting&#8221;) to be held on Thursday, June 17, 2010 at 10:00 a.m., local
time, at the Company&#8217;s corporate headquarters located at 431 New Karner Road,
Albany, New York 12205.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Record Date and Voting
Securities</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Notice of Annual Meeting, Proxy Statement
and proxy card (the &#8220;Proxy Card&#8221;) are first being mailed to stockholders of the
Company on or about May 3, 2010 in connection with the solicitation of proxies
for the Annual Meeting. The Board has fixed the close of business on April 19,
2010 as the date of record (the &#8220;Record Date&#8221;) for the determination of
stockholders entitled to notice of, and entitled to vote at, the Annual Meeting.
Only holders of record of our common stock, par value $0.01 per share (&#8220;Common
Stock&#8221;), at the close of business on the Record Date will be entitled to notice
of, and to vote at, the Annual Meeting. As of the Record Date, there were
4,771,658 shares of Common Stock outstanding and entitled to vote at the Annual
Meeting and approximately 456 stockholders of record. However, we believe that a
significant number of shares are held by brokers under a &#8220;nominee name&#8221; and that
the number of beneficial stockholders of our Common Stock exceeds 10,000. Each
holder of Common Stock outstanding as of the close of business on the Record
Date will be entitled to one vote for each share held as of the Record Date with
respect to each matter submitted at the Annual Meeting.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Proxies</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Board is soliciting a proxy in the form
accompanying this Proxy Statement for use at the Annual Meeting, and will not
vote such proxy at any other meeting. James Prueitt and Frederick Jones, or each
acting individually, are the persons named as proxies on the Proxy Card
accompanying this Proxy Statement, who have been selected by the Board to serve
in such capacity. Mr. Prueitt is the Vice President of Engineering and
Operations of MTI Micro and Mr. Jones is the Vice President of Finance and
Operations of MTI Instruments Inc. and Acting Chief Financial Officer of the
Company.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Voting of Proxies</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Because many of our stockholders are unable to
attend the Annual Meeting, the Board solicits proxies to give each stockholder
an opportunity to vote on all matters scheduled to come before the Annual
Meeting, as set forth in this Proxy Statement. Stockholders are urged to read
the material in this Proxy Statement carefully, specify their choice on each
matter by marking the appropriate box on the enclosed Proxy Card and then sign,
date, and return the card in the enclosed, stamped envelope.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Each proxy that is (a) executed properly; (b)
received by us prior to or at the Annual Meeting; and (c) not properly revoked
by the stockholder pursuant to the instructions below, will be voted in
accordance with the directions specified on the proxy and otherwise, in
accordance with the judgment of the persons designated therein as proxies. If no
choice is specified and the proxy is properly signed and returned, the shares
will be voted by the persons named as proxies in accordance with the
recommendations of the Board contained in this Proxy Statement.</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our Board knows of no matters to be presented
at the Annual Meeting other than those described in this Proxy Statement. In the
event that other business properly comes before the meeting, the persons named
as proxies will have discretionary authority to vote the shares represented by
the accompanying proxy in accordance with their own judgment.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Revocation of Proxies</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Each stockholder giving a proxy has the power
to revoke it at any time before the shares represented by that proxy are voted.
Revocation of a proxy is effective when our Secretary receives either (i) an
instrument revoking the proxy; or (ii) a duly executed proxy bearing a later
date. Additionally, a stockholder may change or revoke a previously executed
proxy by voting in person at the Annual Meeting.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Subject to the terms and conditions set forth
herein, all proxies received by us will be effective, notwithstanding any
transfer of the shares to which such proxies relate, unless at or prior to the
Annual Meeting we receive a written notice of revocation signed by the person
who, as of the Record Date, was the registered holder of such shares. The notice
of revocation must indicate the certificate number(s) and number of shares to
which such revocation relates and the aggregate number of shares represented by
such certificate(s).</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Quorum and Method of
Tabulation</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The presence, in person or by proxy, of
thirty-three and one-third percent (33 1/3%) of the total number of outstanding
shares of Common Stock entitled to vote is necessary to constitute a quorum for
the transaction of business at the Annual Meeting. A quorum being present, the
affirmative vote of a plurality of the votes is necessary to elect the nominees
as Directors of MTI, as set forth in Proposal No. 1. The other matters submitted
for stockholder approval at the Annual Meeting will be decided by the
affirmative vote of a majority of the shares present, in person or by proxy, at
the Annual Meeting and entitled to vote on such matters.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">One or more inspectors of election appointed
for the meeting will tabulate the votes cast in person or by proxy at the Annual
Meeting, and will determine whether or not a quorum is present. The inspectors
of election will treat abstentions as shares that are present and entitled to
vote for purposes of determining the presence of a quorum, but as &#8220;un-voted&#8221; for
purposes of determining the approval of any matter submitted to stockholders for
a vote. Therefore, abstentions will be the equivalent of &#8220;un-voted&#8221; for purposes
of determining the approval of any matter submitted for a stockholder
vote.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Many of our shares of Common Stock are held in
&#8220;street name,&#8221; meaning that a depository, broker-dealer or other financial
institution holds the shares in its name, but such shares are beneficially owned
by another person. Generally, a street name holder must receive direction from
the beneficial owner of the shares to vote on issues other than routine
stockholder matters, such as the ratification of auditors. If a broker indicates
on a proxy that it does not have discretionary authority as to certain shares to
vote on a particular matter, those shares will be treated as shares that are
present and entitled to vote for purposes of determining quorum, but as
&#8220;un-voted&#8221; for purposes of determining the approval of such matter submitted to
the stockholders for a vote.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Householding of Annual Meeting
Materials</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Some banks, brokers and other nominee record
holders may be participating in the practice of &#8220;householding&#8221; proxy statements
and annual reports. This means that only one copy of our Proxy Statement or
Annual Report to Stockholders may have been sent to multiple stockholders who
share an address unless we have received instructions to the contrary. We will
promptly deliver a separate copy of either document to any stockholder upon
written or oral request. Requests may be made by mail to: Mechanical Technology,
Incorporated, ATTN: Investor Relations Department, 431 New Karner Road, Albany,
New York 12205; by e-mail: contact@mechtech.com; or by telephone: (518)
533-2200. Any stockholder who would like to receive separate copies of the Proxy
Statement and/or Annual Report to Stockholders in the future, or any stockholder
who is receiving multiple copies and would like to receive only one copy per
household in the future, should contact their bank, broker, or other nominee
record holder, or us directly at the address, e-mail address or phone number
listed above.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">3</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Proxy Solicitation Expense</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We do not anticipate engaging a paid proxy
solicitor to assist with the solicitation of proxies for the Annual Meeting. In
addition to solicitation by mailing of this Proxy Statement, our directors,
officers, and employees, without receiving any additional compensation, may
solicit proxies personally or by telephone, facsimile or email. We have retained
Broadridge Financial Solutions, Inc. to request brokerage houses, banks, and
other custodians or nominees holding stock in their names for others to forward
proxy materials to their customers or principals who are the beneficial owners
of shares and will reimburse them for their expenses in doing so. We do not
anticipate that the costs and expenses incurred in connection with this proxy
solicitation, which will be paid by the Company, will materially exceed those
normally expended for a proxy solicitation for routine matters to be voted on at
an annual meeting of our stockholders.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">PROPOSAL No. 1: ELECTION OF
DIRECTORS</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We currently have five Directors of the Board.
At the Annual Meeting, two Directors are to be elected to hold office until the
expiration of their terms and until qualified successors shall be elected,
respectively. The Directors serve staggered terms.</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>Listed below are the Directors
nominated for election at the Annual Meeting.</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td nowrap width="65%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Name</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="15%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Position with the
    Company</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Age</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Director Since</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Terms Expiring</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td nowrap width="15%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Chairman and Chief Executive
      Officer</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
            <td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">47</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
            <td nowrap width="6%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">2006</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
            <td nowrap width="7%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">2010</font></td>
          </tr><tr valign="bottom">
            <td nowrap width="65%" style="TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: serif">Dr. Walter L. Robb</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="15%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Director</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">81</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="6%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">1997</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="7%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">2010</font></td>
          </tr></table>
    </div><br>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Board has nominated Peng K. Lim and Dr.
Walter L. Robb to serve three-year terms, expiring in 2013. Peng K. Lim and Dr.
Water L. Robb are completing their final year of their three-year terms,
expiring on June 17, 2010, and William P. Phelan is beginning his second year of
his three-year term, expiring in 2012. Thomas J. Marusak and E. Dennis O&#8217;Connor
are each beginning their third year of their three-year terms, expiring in
2011.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Vote Required for Approval</font></font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The affirmative vote of the plurality of the
shares of Common Stock represented and entitled to vote at the Annual Meeting is
required to elect the nominated Directors.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">THE BOARD OF DIRECTORS RECOMMENDS THAT YOU
VOTE &#8220;FOR&#8221; ELECTION OF<br>THE NOMINEES LISTED ABOVE AS DIRECTORS OF THE
COMPANY.</font></font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Information about Our
Directors</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Set forth below is certain information
regarding the Directors of the Company, including those who have been nominated
for election at the Annual Meeting.</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td nowrap width="89%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1">Name</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Age</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Director Since</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Terms Expiring 2010</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="6%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">47</font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="6%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">2006</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Dr. Walter L. Robb</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">81</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="6%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">1997</font></td>
          </tr><tr>
            <td align="left" nowrap width="89%">&#160;</td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="6%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Terms Expiring 2011</font></font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="6%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: serif">Thomas J. Marusak (1) (2)</font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">59</font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="6%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">2004</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">E. Dennis O&#8217;Connor (1) (2)</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">70</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="6%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">1993</font></td>
          </tr><tr>
            <td align="left" nowrap width="89%">&#160;</td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="6%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="89%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Terms Expiring 2012</font></font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="6%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: serif">William P. Phelan (1) (2)</font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">53</font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="6%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">2004</font></td>
          </tr></table>
    </div><br>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">4</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160; </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Member
      of the Audit Committee</font></td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(2)</font></td>
            <td nowrap valign="top">&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Member
      of the Governance, Compensation and Nominating
  Committee</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Messrs. Marusak, O&#8217;Connor, and Phelan are
&#8220;independent directors&#8221;, as defined by the listing standards of The Nasdaq Stock
Market Inc.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></font><font size="2" style="FONT-FAMILY: serif"> has
served as our Chief Executive Officer since December 2006, Chairman of the Board
since May of 2008, and since May 2006, the President and Chief Executive Officer
of MTI MicroFuel Cells, Inc., or MTI Micro, a Delaware corporation and our
majority owned subsidiary. From 2001 to 2005, Mr. Lim served as the President
and Chief Executive Officer of Tapwave, Inc., a handheld and entertainment
platform company. Mr. Lim served as Vice President, Worldwide Product
Development of Palm, Inc., a handheld and wireless computer company, from April
1999 until May 2001. Mr. Lim served as Vice President of Engineering of Fujitsu
Personal Systems, a pen-based and wireless computer company and a wholly-owned
subsidiary of Fujitsu Limited, from June 1997 until March 1999. From July 1996
to June 1997, Mr. Lim was an Engineering Platform Director for Texas
Instruments, a semiconductor company. Mr. Lim holds a B.S. and an M.S. in
Electrical Engineering from University of Windsor (Ontario, Canada) and a Master
of Engineering Management from Northwestern University. Mr. Lim is an alumnus of
the Stanford Executive Program for Growing Companies at Stanford University. His
leadership roles and experience, including those mentioned above, his knowledge
of and extensive experience in engineering and manufacturing for global markets,
his experience as one of the executives responsible for taking Palm, Inc.
through a successful IPO, and his experience serving as a director of a publicly
traded company qualify him to serve as a director and chairman of Mechanical
Technology. Mr. Lim served on the board of Novatel Wireless, Inc. from 2001
through 2007.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Thomas J. Marusak</font></font><font size="2" style="FONT-FAMILY: serif">
has served as a director since December 2004. Since 1986, Mr. Marusak has served
as President of Comfortex Corporation, an internationally recognized
manufacturer of window blinds and specialty shades. Mr. Marusak served with New
York&#8217;s Capital Region Center for Economic Growth as Chairman of the Technology
Council from June 2001 to July 2004 and Chairman of the Board of Directors from
July 2004 until December 2005. Mr. Marusak has served as a director for the New
York State Energy and Development Authority since September 1999. Mr. Marusak
also represented the interests of small- and medium-sized manufacturing
businesses of New York as a delegate at the White House in 1995. He was
previously a member of the Advisory Board of Directors for Key Bank of New York
from 1996 through 2004, and served on the Advisory Boards of Dynabil Industries
Inc. and Clough Harbour Associates Technology Services Company of Albany from
2000 through 2005. Mr. Marusak received a B.S. in Engineering from Pennsylvania
State University, and an M.S. in Engineering from Stanford University. Mr.
Marusak brings technical development, manufacturing experience, product
development and introduction, financial accounting, and human resources
expertise to the board, as well as relevant experience in committee and board
service.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">E. Dennis O&#8217;Connor</font></font><font size="2" style="FONT-FAMILY: serif">
has served as a director since 1993, and is a retired attorney specializing in
intellectual property. From 1984 until his retirement in June 2000, Mr. O&#8217;Connor
served as the Director of New Products and Technology for Masco Corporation, a
diversified manufacturer of building, home improvement, and other specialty
products for the home and family. Mr. O&#8217;Connor holds a J.D. from George
Washington University and a B.S. in Mechanical Engineering from Notre Dame
University. Mr. O&#8217;Connor contributes to the Company&#8217;s Board significant
experience in corporate law, with an emphasis on intellectual property and
contract law, having practiced for thirty one years in this arena. He has also
served on various corporate committees throughout his career relating to
accounting and finance, with a background specializing in technical and
management assessment.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">William P. Phelan</font></font><font size="2" style="FONT-FAMILY: serif">
has served as a director since December 2004. Mr. Phelan is the co-founder and
Chief Executive Officer of Bright Hub, Inc., a software company founded in 2006,
which focuses on the development of online commerce for software. Since May
2004, Mr. Phelan has acted as Chairman and CEO of Chatham Capital Management,
Inc. In May 1999, Mr. Phelan founded OneMade, Inc., an electronic commerce
marketplace technology systems and tools provider. Mr. Phelan served as Chief
Executive Officer of OneMade, Inc. from May 1999 to May 2004. OneMade, Inc. was
sold to America Online in May 2003. Mr. Phelan also serves on the Board of
Trustees and Chairman of the Audit Committee of the Paradigm mutual fund family.
In addition, Mr. Phelan served as a member of the Board of Directors of
Florists&#8217; Transworld Delivery, the largest floral services</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">5</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">organization in the
world, from January 1995 through December 1999. He has also held numerous
executive positions at Fleet Equity Partners, Cowen &amp; Company, and UHY
Advisors Inc., formerly Urbach Kahn &amp; Werlin, PC. Mr. Phelan has a B.A. in
Accounting and Finance from Siena College, an M.S. in Taxation from City College
of New York, and is a Certified Public Accountant. Mr. Phelan contributes
leadership, capital markets experience, strategic insight as well and innovation
in technology to the Board. His accounting expertise makes him well qualified to
serve as the Chairman of the Audit Committee.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Dr. Walter L. Robb</font></font><font size="2" style="FONT-FAMILY: serif">
has served as a director since 1997. Dr. Robb has served as President of Vantage
Management, Inc., a management consulting company, since 1993. Prior to that
time, Dr. Robb served in various executive positions with General Electric
Company. Dr. Robb served as Senior Vice President for Corporate Research and
Development with General Electric from 1986 until his retirement in December
1992, directing the General Electric Research and Development Center, one of the
world&#8217;s largest and most diversified industrial laboratories, while also serving
on its Corporate Executive Council. Dr. Robb served on the Board of Directors of
Plug Power Inc., from 1997 through October 2002, has served on the board of
directors of Celgene Corporation, a publicly held integrated biopharmaceutical
company, since 1992, and a number of privately held companies. Dr. Robb&#8217;s
experience at GE Medical Systems, where he served as CEO of a division with
10,000 employees, $1.6 billion in revenue and $76 million in net income, as well
as his tenure on the GE Executive Committee, brings significant managerial and
technical expertise to the board.</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>There are no family relationships
among any of our directors or executive officers.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">BOARD OF DIRECTORS MEETINGS AND
COMMITTEES</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Board held twelve meetings during 2009.
All Directors attended at least 75% of all of the Board and Committee meetings
that they were eligible to attend during 2009 The Board has no formal policy
regarding attendance at the Annual Meeting; however, Directors are encouraged,
but not required, to attend any meetings of our stockholders. All of our current
Directors attended the 2009 Annual Meeting of Stockholders.</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>The Board has established an Audit
Committee and a Governance, Compensation and Nominating Committee.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Audit Committee</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Audit Committee consists of Mr. Phelan
(Chairman), Mr. O&#8217;Connor and Mr. Marusak. The Board has determined that the
current members of the Audit Committee are independent directors as defined
under Rule 5605(a)(2) of the Nasdaq Stock Market Inc. Rules (&#8220;Nasdaq
Rules&#8221;).</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Audit Committee met four times during
2009, and each member attended 100% of the meetings. The responsibilities of the
Audit Committee are set forth in the charter of the Audit Committee, which was
adopted by the Board of the Company and is published in the Investor
Relations/Corporate Governance section of our website at </font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: serif">www.mechtech.com</font></font><font size="2" style="FONT-FAMILY: serif">. The Committee, among other matters, is
responsible for the annual appointment of the independent registered public
accountants as MTI&#8217;s auditors, and reviews the arrangements for and the results
of the auditors&#8217; examination of our books and records, auditors&#8217; compensation,
internal accounting control procedures, and activities. The Audit Committee also
reviews our accounting policies, control systems and compliance activities and
reviews the charter of the Audit Committee.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Governance, Compensation and Nominating
Committee</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our Board adopted a Governance, Compensation
and Nominating Committee charter, which is published in the Investor
Relations/Corporate Governance section of our website at </font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: serif">www.mechtech.com</font></font><font size="2" style="FONT-FAMILY: serif">. The Governance, Compensation and Nominating
Committee consists of Mr. O&#8217;Connor, Mr. Marusak and Mr. Phelan, who are all
&#8220;independent directors&#8221; as defined under Rule 5605(a)(2) of the Nasdaq Rules.
Mr. O&#8217;Connor is Chairman of the Governance, Compensation, and Nominating
Committee.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">6</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The role of the Governance, Compensation and
Nominating Committee is to assist the Board by 1) identifying, evaluating and
recommending the nomination of Board members; 2) setting the compensation for
our Chief Executive Officer and other senior executives; 3) establishing bonus
and option pool amounts for other employees and performing other compensation
oversight; 4) establishing Director compensation; 5) selecting and recommending
Director candidates to the Board; 6) recommending improved governance of the
Company to the Board; and 7) assisting the Board with other assigned tasks as
needed.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In appraising potential Director candidates,
the Governance, Compensation and Nominating Committee focuses on desired
characteristics and qualifications of candidates, and although there are no
stated minimum requirements or qualifications, preferred characteristics include
business savvy and experience, concern for the best interests of our
stockholders, proven success in the application of skills relating to our areas
of business activities, adequate availability to participate actively in the
Board&#8217;s affairs, high levels of integrity and sensitivity to current business
and corporate governance trends and legal requirements and that candidates meet
the director independence standards of The Nasdaq Global Market System, if
applicable. The Governance, Compensation and Nominating Committee has adopted a
formal policy for the consideration of director candidates recommended by
stockholders. Individuals recommended by stockholders are evaluated in the same
manner as other potential candidates. A stockholder wishing to submit such a
recommendation should forward it in writing to our Secretary at 431 New Karner
Road, Albany, New York 12205. The mailing envelope should include a clear
notation that the enclosure is a &#8220;Director Nominee Recommendation.&#8221; The
recommending party should be identified as a stockholder and should provide a
brief summary of the recommended candidate&#8217;s qualifications, taking into account
the desired characteristics and qualifications considered for potential Board
members mentioned above.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Governance, Compensation and Nominating
Committee administers our executive compensation programs. This Committee is
responsible for establishing the policies that govern base salaries, as well as
short and long-term incentives for senior management. Within prescribed option
grant ranges and vesting provisions, the Committee has delegated to our Chief
Executive Officer and Chief Financial Officer authority to award stock option
grants to non-executive personnel upon commencement of employment with us. The
Committee considers recommendations made by our Chief Executive Officer and
certain other executives when reaching its compensation decisions, including
with respect to executive and director compensation. The Governance,
Compensation and Nominating Committee met two times during 2009.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Governance, Compensation and Nominating
Committee Interlocks and Insider Participation</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In 2009, the Governance, Compensation and
Nominating Committee consisted of Mr. O&#8217;Connor, Mr. Marusak and Mr. Phelan, none
of whom are or have been employees of MTI. During 2009, no executive officer of
the Company served as a director of any other for-profit entity that had an
executive officer that served on the Board of the Company. For information
concerning the committee members&#8217; relationship to us, see &#8220;Security Ownership of
Certain Beneficial Owners and Management&#8221; and &#8220;Certain Relationships and Related
Transactions.&#8221;</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">The Board&#8217;s Role in Risk
Oversight<br></font></font><font size="2" style="FONT-FAMILY: serif">The Board
executes its oversight responsibility for risk management directly and through
its Committees, as follows:</font></div>
    <ul style="FONT-SIZE: 10pt; MARGIN-LEFT: 16px; TEXT-ALIGN: justify">
      <li><font size="2" style="FONT-FAMILY: serif">The Audit Committee has primary
  responsibility for overseeing the integrity of the Company&#8217;s financial</font>
  <font size="2" style="FONT-FAMILY: serif">reporting risk by reviewing (i) the
  Company&#8217;s disclosure controls and procedures; (ii) any significant</font>
  <font size="2" style="FONT-FAMILY: serif">deficiencies in the design or
  operation of internal controls; (iii) any fraud material or otherwise; (iv)
  the use</font> <font size="2" style="FONT-FAMILY: serif">of judgments in
  management&#8217;s preparation of the financial statements, and (v) through
  consultation with</font> <font size="2" style="FONT-FAMILY: serif">Company&#8217;s
  independent auditors on the above items. The Board of Directors is kept
  abreast of the</font> <font size="2" style="FONT-FAMILY: serif">Committees' risk
  oversight and other activities via reports of the Committee Chairmen to the
  full Board.<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">The Governance, Compensation and
  Nominating Committee oversees risks associated with our</font> <font size="2" style="FONT-FAMILY: serif">compensation policies and practices, with
  respect to both executive compensation and compensation</font> <font size="2" style="FONT-FAMILY: serif">generally. The Board of Directors is kept
  abreast of the Committees' risk oversight and other activities via</font>
  <font size="2" style="FONT-FAMILY: serif">reports of the Committee Chairmen to
  the full Board.</font> </li>
    </ul>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">7</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <ul style="FONT-SIZE: 10pt; MARGIN-LEFT: 16px; TEXT-ALIGN: justify">
      <li><font size="2" style="FONT-FAMILY: serif">The Board considers specific risk
  topics, including risks associated with our strategic plan, our capital</font>
  <font size="2" style="FONT-FAMILY: serif">structure and our development
  activities. In addition, the Board receives detailed regular reports from
  the</font> <font size="2" style="FONT-FAMILY: serif">heads of our principal
  business and corporate functions&#8212;that include discussions of the risks and
  exposures</font> <font size="2" style="FONT-FAMILY: serif">involved in their
  respective areas of responsibility. These reports are provided in connection
  with every</font> <font size="2" style="FONT-FAMILY: serif">regular Board
  meeting and are discussed, as necessary, at Board meetings. Further, the Board
  is routinely</font> <font size="2" style="FONT-FAMILY: serif">informed of
  developments at and affecting the Company that could affect our risk profile
  or other aspects of</font> <font size="2" style="FONT-FAMILY: serif">our
  business.</font> </li>
    </ul>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Executive Sessions of
Directors<br></font></font><font size="2" style="FONT-FAMILY: serif">Executive
sessions, or meetings of outside (non-management) Directors without management
present, are held periodically throughout the year. At these executive sessions,
the outside Directors review, among other things, the criteria upon which the
performance of the Chief Executive Officer and other senior managers is based,
the performance of the Chief Executive Officer against such criteria, and the
compensation of the Chief Executive Officer and other senior managers. Meetings
are held from time to time with the Chief Executive Officer to discuss relevant
subjects.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Board Leadership
Structure<br></font></font><font size="2" style="FONT-FAMILY: serif">The Board
recognizes that one of its key responsibilities is to evaluate and determine its
optimal leadership structure so as to provide independent oversight of
management. The Board understands that there is no single, generally accepted
approach to providing Board leadership and that given the dynamic and
competitive environment in which we operate, the right Board leadership
structure may vary as circumstances warrant.</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim has
served as our Chairman of the Board since May 2008 and CEO since May 2006. Based
on its most recent review of MTI&#8217;s Board leadership structure, the Board
continues to believe that this leadership structure is optimal for the market
environment and the size of the Board. Coupled with the ongoing efforts to
commercialize its Mobion technology and obtain additional capital funding, the
Board believes that having one leader serving as both the Chairman and Chief
Executive Officer provides decisive and effective leadership.</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">In considering its
leadership structure, the Board has taken a number of factors into account. The
Board, which consists of a majority of independent Directors who are highly
qualified and experienced, exercises a strong, independent oversight function.
This oversight function is enhanced by the fact that each of the Board&#8217;s key
Committees - the Audit and Governance, Compensation and Nominating Committees,
are comprised entirely of independent Directors. The Board does not currently
have a lead independent director.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Board Membership<br></font></font><font size="2" style="FONT-FAMILY: serif">To fulfill its responsibility to recruit and
recommend to the full Board nominees for election as Directors, the Governance,
Compensation and Nominating Committee reviews the size and composition of the
Board to determine the qualifications and areas of expertise needed to further
enhance the composition of the Board and works with management in attracting
candidates with those qualifications. The goal of the Committee is to achieve a
Board that, as a whole, provides effective oversight of the management and
business of our Company, through the appropriate diversity of experience,
expertise, skills, specialized knowledge and other qualifications and attributes
of the individual Directors. Important criteria for Board membership include the
following:</font></div>
    <ul style="FONT-SIZE: 10pt; MARGIN-LEFT: 16px; TEXT-ALIGN: justify">
      <li><font size="2" style="FONT-FAMILY: serif">Members of the Board should be
  individuals of high integrity and independence, substantial</font> <font size="2" style="FONT-FAMILY: serif">accomplishments, and have prior or current
  associations with institutions noted for their excellence.<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">Members of the Board should have
  demonstrated leadership ability, with broad experience, diverse</font> <font size="2" style="FONT-FAMILY: serif">perspectives, and the ability to exercise
  sound business judgment.<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">The background and experience of
  members of the Board should be in areas important to the operations of</font>
  <font size="2" style="FONT-FAMILY: serif">the Company such as business,
  education, finance, government, law, medicine or science.<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">The composition of the Board
  should reflect the benefits of diversity as to gender, ethnic background
  and</font> <font size="2" style="FONT-FAMILY: serif">experience.</font> </li>
    </ul>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">The satisfaction of
these criteria is implemented and assessed through ongoing consideration of
Directors and nominees by the Corporate Governance Committee and the Board, as
well as the Board&#8217;s self-evaluation process.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">8</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">Based upon these
activities and its review of the current composition of the Board, the Committee
and the Board believe that these criteria have been satisfied.</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">In addition, in
accordance with our Corporate Governance Principles, the Committee considers the
number of boards of other public companies on which a candidate serves.
Moreover, Directors are expected to act ethically at all times and adhere to the
Company&#8217;s Code of Business Conduct and Ethics for members of the Board of
Directors.</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">The Governance,
Compensation and Nominating Committee and the Board believe that each of the
nominees for election at the Annual Meeting brings a strong and unique set of
attributes, experiences and skills and provides the Board as a whole with an
optimal balance of experience, leadership, competencies, qualifications and
skills in areas of importance to our Company. Under &#8220;Proposal 1&#8212;Election of
Directors&#8221; above, we provide an overview of each nominee&#8217;s principal occupation,
business experience and other directorships, together with the key attributes,
experience and skills viewed as particularly meaningful in providing value to
the Board, our Company and our shareholders.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">REPORT OF THE AUDIT COMMITTEE
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Audit Committee is currently composed of
three directors, each of whom is an &#8220;independent director&#8221; as defined under Rule
5605 (a)(2) of the Nasdaq Rules and the applicable rules of the SEC. In
addition, the Board has made a determination that Mr. Phelan qualifies as an
&#8220;audit committee financial expert&#8221; as defined in Item 407(d)(5) of Regulation
S-K under the Exchange Act of 1934 (the &#8220;Exchange Act&#8221;). Mr. Phelan&#8217;s
designation by the Board as an &#8220;audit committee financial expert&#8221; is not
intended to be a representation that he is an expert for any purpose as a result
of such designation, nor is it intended to impose on him any duties,
obligations, or liability greater than the duties, obligations or liability
imposed on him as a member of the Audit Committee and the Board in the absence
of such designation.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In accordance with the Committee&#8217;s charter,
available on our website at </font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: serif">www.mechtech.com</font></font><font size="2" style="FONT-FAMILY: serif">, our management has the primary
responsibility for the financial statements and the financial reporting process,
including maintaining an adequate system of internal controls over financial
reporting. Our independent registered public accountants, PricewaterhouseCoopers
LLP (&#8220;PwC&#8221;), report directly to the Audit Committee and are responsible for
performing an independent audit of our consolidated financial statements in
accordance with auditing standards generally accepted in the United States of
America. The Audit Committee, among other matters, is responsible for appointing
our independent registered public accountants, evaluating such independent
registered public accountants&#8217; qualifications, independence and performance,
determining the compensation for such independent auditor, and pre-approval of
all audit and non-audit services. Additionally, the Audit Committee is
responsible for oversight of our accounting and financial reporting processes
and audits of our financial statements including the work of the independent
auditor. The Audit Committee reports to the Board with regard to:</font></div>
    <ul style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
      <li><font size="2" style="FONT-FAMILY: serif">the scope of the annual
  audit;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">fees to be paid to the independent
  registered public accountants;</font> <br>&#160;
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">the performance of our independent
  registered public accountants;</font> <br>&#160;
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">compliance with accounting and
  financial policies and financial statement presentation; and</font> <br>&#160;
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">the procedures and policies
  relative to the adequacy of internal accounting controls.</font> </li>
    </ul>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Audit Committee reviewed and discussed
with our management and PwC MTI&#8217;s 2009 quarterly consolidated financial
statements and 2009 annual consolidated financial statements, including
management&#8217;s assessment of the effectiveness of our internal control over
financial reporting. Our management has represented to the Audit Committee that
MTI&#8217;s consolidated financial statements were prepared in accordance with
accounting principles generally accepted in the United States of America.
</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">9 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Additionally, the Audit Committee has
discussed with PwC any matters required to be discussed under American Institute
of Certified Public Accountants Auditing Standard Section 380, </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">The Auditor's Communication With Those Charged With
Governance</font></font><font size="2" style="FONT-FAMILY: serif">, which include,
among other items, matters related to the conduct of the audit of our annual
consolidated financial statements. The Audit Committee has also discussed the
critical accounting policies used in the preparation of our annual consolidated
financial statements, alternative treatments of financial information within
generally accepted accounting principles that PwC discussed with management, the
ramifications of using such alternative treatments and other written
communications between PwC and management.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">PwC has provided to the Audit Committee the
written disclosures and the letter required by applicable requirements of the
Public Company Accounting Oversight Board regarding the independent accountant&#8217;s
communications with the audit committee concerning independence, and the Audit
Committee discussed with PwC that firm&#8217;s independence. The Audit Committee has
also concluded that PwC&#8217;s performance of non-audit services is compatible with
PwC&#8217;s independence. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Audit Committee also discussed with PwC
their overall scope and plans for its audit and has met with PwC, with and
without management present, to discuss the results of its audit and the overall
quality of our financial reporting. The Audit Committee also discussed with PwC
whether there were any audit problems or difficulties, and management&#8217;s
response.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Based on the reviews and discussions referred
to above, the Audit Committee recommended to the Board, and the Board has
approved, that the audited consolidated financial statements be included in our
Annual Report on Form 10-K for the year ended December 31, 2009. This report is
provided by the following independent directors, who constitute the
Committee.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Audit Committee: </font></font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">Mr. William P. Phelan
(Chairman)<br>Mr. E. Dennis O&#8217;Connor <br>Mr. Thomas J. Marusak </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">A representative from PwC is expected to be
present at the Annual Meeting and will have the opportunity to make a statement
and answer appropriate questions from stockholders.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Accounting Fees </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Aggregate fees for professional services
rendered by our principal auditor, PwC, for the years ended December 31, 2009
and 2008 are as follows <font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font>:</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" nowrap width="87%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Year Ended</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Year Ended</font></font></td>
          </tr><tr valign="bottom">
            <td nowrap width="87%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">December 31,</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">December 31,</font></font></td>
          </tr><tr valign="bottom">
            <td nowrap width="87%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">2009</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">2008</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="87%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Audit Fees</font> </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">172,000</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">179,000</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="87%"><font size="2" style="FONT-FAMILY: serif">Audit Related Fees</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">25,000</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: serif">60,000</font></td>
            <td align="right" nowrap width="1%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="87%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Tax Fees</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">42,215</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">71,576</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="87%"><font size="2" style="FONT-FAMILY: serif">All Other Fees</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="right" nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="right" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="right" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="87%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Total</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2">&#160;&#160; </font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: serif">239,215</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2">&#160;&#160; </font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2">&#160;&#160; </font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2" style="FONT-FAMILY: serif">310,576</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 2pt double"><font size="2">&#160;&#160; </font></td>
          </tr><tr valign="bottom" bgcolor="white">
            <td align="left" nowrap width="87%"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" nowrap width="1%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
            <td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
            <td align="right" nowrap width="1%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" nowrap width="1%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
            <td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
            <td align="right" nowrap width="1%"><font size="2">&#160;</font></td>
          </tr></table>
    </div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td nowrap valign="top">&#160; &#160;&#160;&#160; </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">The
      aggregate amounts included in </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Audit Fees </font></font><font size="2" style="FONT-FAMILY: serif">are classified by the related fiscal
      periods for the audit of our annual financial statements and review of
      financial statements and statutory and regulatory filings or engagements.
      The aggregate fees included in each of the other categories are fees
      billed during those fiscal periods.</font></td>
          </tr></table>
    </div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">&#160;</font></div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">10 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Audit Fees </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Audit</font></font><font size="2" style="FONT-FAMILY: serif"> </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Fees</font></font><font size="2" style="FONT-FAMILY: serif"> billed for the
fiscal years ended December 31, 2009 and 2008, respectively, were for
professional services rendered for the audits of our consolidated financial
statements included in Form 10-K and review of financial statements included in
Form 10-Q, and for services that are normally provided by PwC in connection with
statutory and regulatory filings or engagements. </font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Audit Related Fees </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Audit Related Fees</font></font><font size="2" style="FONT-FAMILY: serif">
billed during the fiscal year ended December 31, 2009 pertained to consultations
concerning accounting and financial reporting standards over complex significant
transactions performed by the Company during that period. The </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Audit Related Fees</font></font><font size="2" style="FONT-FAMILY: serif">
billed during the fiscal year ended December 31, 2008 were for assurance and
related services related to the review of the Company&#8217;s S-1 preliminary
prospectus and related amendments.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Tax Fees </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Tax</font></font><font size="2" style="FONT-FAMILY: serif"> </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Fees</font></font><font size="2" style="FONT-FAMILY: serif"> billed during
the fiscal years ended December 31, 2009 and 2008, respectively, were for
services related to tax compliance, including the preparation of tax returns and
claims for refunds; and tax planning and tax advice, including assistance with
and representation in tax audits and advice related to proposed
transactions.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">All Other Fees </font></font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>None. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Audit Committee has considered whether the
provision of the non-audit services above is compatible with maintaining the
auditors&#8217; independence, and has concluded that it is. </font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Audit Committee Pre-Approval Policies and
Procedures </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Pursuant to Section 202(a) of the
Sarbanes-Oxley Act, the Audit Committee has adopted the following policies and
procedures under which frequently utilized audit and non-audit services are
pre-approved by the Audit Committee and the authority to authorize the
independent registered public accountants to perform such services is delegated
to a single committee member or executive officer. </font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">a)</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Annual
      audit, quarterly review and annual tax return services will be
      pre-approved upon review and acceptance of the tax and audit engagement
      letters submitted by the independent registered public accountants to the
      Audit Committee.</font></td>
          </tr><tr>
            <td nowrap>
            </td>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">b)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Additional audit and non-audit services related to the resolution
      of accounting issues or the adoption of new accounting standards, audits
      by tax authorities or reviews of public filings by the SEC must be
      pre-approved by the Audit Committee and the authority to authorize the
      independent auditor to perform such services is delegated to the Chairman
      of the Audit Committee for fees up to $5,000, and for fees above $5,000
      entire Committee approval is required.</font></td>
          </tr><tr>
            <td nowrap>
            </td>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">c)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Additional audit and non-audit services related to tax savings
      strategies, tax issues arising during the preparation of tax returns, tax
      estimates and tax code interpretations must be pre-approved by the Audit
      Committee and the authority to authorize the independent auditor to
      perform such services is delegated to the Chairman of the Audit Committee
      for fees up to $5,000, and for fees above $5,000 entire Committee approval
      is required.</font></td>
          </tr><tr>
            <td nowrap>
            </td>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">d)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Additional audit and non-audit services related to the tax and
      accounting treatments of proposed business transactions must be
      pre-approved by the Audit Committee and the authority to authorize the
      independent registered public accountants to perform such services is
      delegated to the Chairman of the Audit Committee for fees up to $5,000,
      and for fees above $5,000 entire Committee approval is
  required.</font></td>
          </tr></table>
    </div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">&#160;</font></div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">11 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">e)</font></td>
            <td valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Quarterly and annually, a detailed analysis of audit and non-audit
      services will be provided to and reviewed with the Audit
    Committee.</font></td>
          </tr></table>
    </div>
    <div align="justify">&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">All of the 2009 services described under the
captions &#8220;Audit Fees&#8221; and &#8220;Tax Fees&#8221; were approved by the Audit
Committee.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font style="FONT-FAMILY: serif">PROPOSAL 2: RATIFICATION OF INDEPENDENT
AUDITOR</font></font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The Audit Committee has selected
PricewaterhouseCoopers LLP (&#8220;PWC&#8221;) as MTI&#8217;s independent auditor for fiscal year
2010, and the Board is asking shareholders to ratify that selection. Although
current law, rules, and regulations, as well as the charter of the Audit
Committee, require the Audit Committee to engage, retain, and supervise MTI&#8217;s
independent auditor, the Board considers the selection of the independent
auditor to be an important matter of shareholder concern and is submitting the
selection of PWC for ratification by shareholders as a matter of good corporate
practice.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The affirmative vote of holders of a majority
of the shares of common stock cast in person or by proxy at the meeting is
required to approve the ratification of the selection of PWC as MTI&#8217;s
independent auditor for the current fiscal year.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">The Board of Directors recommends a vote FOR
the proposal.</font></font><font size="2" style="FONT-FAMILY: serif">
</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
</font></font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Review, Approval or Ratification of
Transactions with Related Persons</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In early 2007, we formalized the process by
which we review and approve transactions in which we or one or more related
persons participate. Although we have always had procedures in place, we
strengthened our current procedures by adopting a written policy requiring that
all related person transactions be reported to our Chief Financial Officer and
approved or ratified by the Governance, Compensation and Nominating Committee of
the Board of Directors. In completing our review of proposed related person
transactions, the Governance, Compensation and Nominating Committee considers
the aggregate value of the transaction, whether the transaction was undertaken
in the ordinary course of business, the nature of the relationships involved,
and whether the transaction is on terms comparable to those that could be
obtained in arm&#8217;s length dealings with an unrelated third party.</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>We believe transactions among
related parties are as fair to us as those obtainable from unaffiliated third
parties.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On September 18, 2008, the Company&#8217;s
subsidiary, MTI Micro, executed a Convertible Note and Warrant Purchase
Agreement (the &#8220;Purchase Agreement&#8221;), Secured Convertible Promissory Note
Agreements (the &#8220;Bridge Notes&#8221;), Security Agreement (the &#8220;Security Agreement&#8217;)
and Warrant Agreements (the &#8220;Warrants&#8221;). The investors (the &#8220;Bridge Investors&#8221;),
included MTI, in the form of conversion of existing debt of $700,000, Dr. Walter
L. Robb, a member of the Company&#8217;s and MTI Micro&#8217;s Boards of Directors, and
Counter Point Ventures Fund II, LP (Counter Point). Counter Point is a venture
capital fund sponsored and managed by Dr. Walter L. Robb. General Electric
Pension Trust, an employee benefit plan trust, is a passive limited partner in
Counter Point. The Bridge Notes allowed MTI Micro to borrow up to an aggregate
of $2.2 million, including conversion of the outstanding debt totaling $700,000
owed to the Company. Under this agreement, MTI Micro closed on $1.5 million of
funding from other investors on September 18, 2008.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On February 20, 2009, MTI Micro and the
Investors agreed to, among other things, amend the Bridge Notes (&#8220;Amendment No.
1&#8221;) to permit MTI Micro to sell additional Bridge Notes with an additional
principal amount of up to $500,000 to additional investors, and to extend the
maturity date from March 31, 2009 to May 31, 2009 (the &#8220;Maturity Date&#8221;). No
other terms of the Bridge Notes were amended. Following the effectiveness of the
Amendment No. 1, MTI Micro borrowed an additional $500,000 from Counter Point,
bringing the aggregate</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">12 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">outstanding principal
amount borrowed under the Bridge Notes, as amended, to $2.7 million, including
conversion of outstanding debt totaling $700,000 owed to the
Company.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On April 15, 2009, MTI Micro and the Investors
agreed to amend the Bridge Notes (&#8220;Amendment No. 2&#8221;) to permit MTI Micro to sell
additional Bridge Notes with an additional principal amount of up to $800,000 to
an additional investor and Counter Point, and to extend the maturity date from
May 31, 2009 to March 31, 2010 (the &#8220;Maturity Date&#8221;). Effective December 4,
2009, MTI Micro had sold all additional Bridge Notes. The Bridge Notes had an
interest rate of 10%, compounded annually.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On December 9, 2009, MTI Micro entered into a
Secured Convertible Promissory Note Negotiated Conversion Agreement (the
&#8220;Conversion Agreement&#8221;) with MTI and the parties to the Bridge Documentation.
Pursuant to the Conversion Agreement, effective December 9, 2009, MTI Micro, MTI
and the other parties to the Bridge Documentation (the &#8220;Bridge Investors&#8221;)
agreed to, among other things, convert the aggregate principal and accrued
interest amount of $3,910,510 outstanding under the Bridge Notes into an
aggregate of 55,864,425 shares of Common Stock of MTI Micro using a conversion
price per share of $0.070 (the &#8220;Negotiated Conversion&#8221;). As an incentive for MTI
Micro to agree to the terms of the Negotiated Conversion, MTI Micro, MTI and the
Bridge Investors also agreed that immediately prior to the consummation of the
Negotiated Conversion, MTI Micro would issue to each current MTI Micro
stockholder (including MTI), without consideration, a warrant (&#8220;Micro Warrant&#8221;)
exercisable after one (1) year for up to 50% of the aggregate number of shares
of Common Stock each such MTI Micro stockholder currently held in MTI Micro, at
$0.070 per share and with a term of seven (7) years. Accordingly, immediately
prior to the consummation of the Negotiated Conversion on December 9, 2009, MTI
Micro issued Micro Warrants exercisable for an aggregate of 32,779,310 shares of
MTI Micro Common Stock.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">As a result of the Negotiated Conversion, MTI
converted an aggregate principal and accrued interest amount of $786,917
outstanding under the Bridge Notes into an aggregate of 11,241,666 shares of
Common Stock of MTI Micro, and MTI&#8217;s ownership interest in MTI Micro decreased
from approximately 97.3% to approximately 61.8%, or 69.2% on a fully-diluted
basis including the Micro Warrants issued to all current MTI Micro stockholders
and the Bridge Warrants.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In addition, effective immediately upon the
consummation of the Negotiated Conversion, the security interest granted by MTI
Micro to the Bridge Investors under the Security Agreement that collateralized
the Bridge Investors&#8217; Bridge Notes by all of the assets of MTI Micro (the
&#8220;Collateral&#8221;) terminated, and all rights to the Collateral under the Security
Agreement reverted to MTI Micro.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On January 11, 2010, MTI Micro entered into a
Common Stock and Warrant Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with
Counter Point. Dr. Robb and Counter Point beneficially held approximately 29.5%
of the fully-diluted capital stock of MTI Micro of December 31, 2009, and as of
March 15, 2010 hold an aggregate of approximately 30.7% of the fully-diluted
capital stock of MTI Micro.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Pursuant to the Purchase Agreement, MTI Micro
may issue and sell to Counter Point up to 28,571,429 shares of common stock, par
value $0.01 per share (the &#8220;Micro Common Stock&#8221;), at a purchase price per share
of $0.070, over a period of twelve (12) months, and warrants (&#8220;Warrants&#8221;) to
purchase shares of Micro Common Stock equal to 20% of the shares of Micro Common
Stock purchased under the Purchase Agreement at an exercise price of $0.070 per
share. The sale and issuance of the Micro Common Stock and Warrants shall occur
over multiple closings (each, a &#8220;Closing&#8221;) occurring over two (2) one month
closing periods and five (5) two-month closing periods (each, a &#8220;Closing
Period&#8221;). Three Closings have occurred through March 15, 2010, with MTI Micro
raising $660,000 from the sale of 9,428,571 shares of Micro Common Stock and
Warrants to purchase 1,885,714 shares of Micro Common Stock to Counter Point.
Subsequent Closings may occur thereafter at MTI Micro&#8217;s sole discretion during
the Closing Periods upon delivery of written notice by MTI Micro to Counter
Point of its desire to consummate a Closing, and Counter Point&#8217;s acceptance of
such offer under the Purchase Agreement on the terms agreed upon with MTI Micro.
In the event the terms and conditions of the Purchase Agreement no longer
reflect current market conditions or otherwise, either party may elect not to
participate in a Subsequent Closing(s) or the parties may amend the Purchase
Agreement on mutually agreeable terms with respect to such Subsequent
Closing(s). If MTI Micro were to issue and sell the remainder of the 28,571,429
shares under the Purchase Agreement, the Company would continue to hold an
aggregate of 55.8% of the fully-diluted capital stock of MTI Micro.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">13 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif"> The purchase price per share of the Micro
Common Stock and the exercise price of the Warrants are the same as the
conversion price of MTI Micro&#8217;s bridge notes that were converted into Micro
Common Stock in December 2009, resulting in the conversion of an aggregate of
$3,910,510 of outstanding principal and accrued interest under secured
promissory notes issued by MTI Micro into an aggregate of 55,864,425 shares of
Micro Common Stock at a conversion price of $0.070 per share.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING
COMPLIANCE </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Section 16(a) of the Exchange Act, requires
our directors, executive officers and holders of more than 10% of our Common
Stock to file with the SEC initial reports of ownership of our Common Stock and
other equity securities on a Form 3 and report of changes in such ownership on a
Form 4 or Form 5. Officers, directors and 10% stockholders are required by SEC
regulations to furnish us with copies of all Section 16(a) forms they file. To
our knowledge, based solely on a review of Forms 3, 4 and 5 and amendments
thereto furnished to us during the most recent fiscal year and written
representations by the persons required to file such reports, all filing
requirements of Section 16(a) were satisfied with respect to our most recent
fiscal year. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">STOCKHOLDER COMMUNICATIONS WITH THE BOARD OF
DIRECTORS </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Stockholders who wish to communicate with the
Board, or a particular Director, may send a letter to our Secretary at 431 New
Karner Road, Albany, New York 12205. The mailing envelope must contain a clear
notation indicating that the enclosed letter is a &#8220;Stockholder-Board
Communication.&#8221; All such letters must identify the author as a stockholder and
clearly state whether the intended recipients are all members of the Board or
certain specified individual Directors. The Secretary will make copies of all
such letters and circulate them to the appropriate Director or Directors.
</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">CODE OF ETHICS </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We have adopted a Code of Ethics for
employees, officers and Directors. The Code of Ethics, as revised, was filed as
Exhibit 14.1 to our Annual Report on Form 10-K for the year ended December 31,
2005. A copy may be obtained at no charge by written request to the attention of
our Secretary at 431 New Karner Road, Albany, New York 12205. A copy of the Code
of Ethics is also available on our website at www.mechtech.com. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">EXECUTIVE OFFICERS </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The executive officers of the registrant (all
of whom serve at the pleasure of the Board), their ages, and the position or
office held by each, are as follows: </font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" nowrap width="15%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Executive Officers</font></font></td>
            <td align="right" nowrap width="1%">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Age</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="80%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Position or Office</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="15%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">47</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Chief Executive Officer</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="15%"><font size="2" style="FONT-FAMILY: serif">James K. Prueitt</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">52</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="80%"><font size="2" style="FONT-FAMILY: serif">Vice President of Engineering and Operations, MTI MicroFuel Cells
      Inc.</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="15%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Frederick W. Jones</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">42</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="80%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Acting Chief Financial Officer, MTI and
      Vice President of Finance and Operations, MTI Instruments
  Inc.</font></td>
          </tr></table>
    </div><br>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></font><font size="2" style="FONT-FAMILY: serif"> has
served as our Chief Executive Officer since December 2006, Chairman of the Board
since May of 2008, and since May 2006, the President and Chief Executive Officer
of MTI MicroFuel Cells, Inc., or MTI Micro, a Delaware corporation and our
majority owned subsidiary. From 2001 to 2005, Mr. Lim served as the President
and Chief Executive Officer of Tapwave, Inc., a handheld and entertainment
platform company. Mr. Lim served as Vice President, Worldwide Product
Development of Palm, Inc., a handheld and wireless computer company, from April
1999 until May 2001. Mr. Lim served as Vice President of Engineering of Fujitsu
Personal Systems, a pen-based and wireless computer company and a wholly-owned
subsidiary of Fujitsu Limited, from June 1997 until March 1999. From July 1996
to June 1997, Mr. Lim was an Engineering Platform Director for Texas
Instruments, a semiconductor company. Mr. Lim holds a B.S. and an M.S. in
Electrical Engineering from University of Windsor (Ontario, Canada) and a Master
of Engineering Management from Northwestern University. Mr. Lim is </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">14 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">an alumnus of the
Stanford Executive Program for Growing Companies at Stanford University. Mr. Lim
served on the board of Novatel Wireless, Inc. from 2001 through
2007.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">James K. Prueitt</font></font><font size="2" style="FONT-FAMILY: serif">
has served as Vice President of Engineering and Operations of MTI Micro since
November 2007 and served as MTI Micro&#8217;s Senior Director of Engineering between
April 2006 and November 2007. Mr. Prueitt manages research and development,
purchasing, quality, operations and program management. Prior to joining our
company, Mr. Prueitt spent 20 years at Polaroid Corporation where he served most
recently as Divisional Vice President of Hardware and Software research and
development. Mr. Prueitt also holds an M.B.A. from the University of West
Florida and an M.S. in Mechanical Engineering from the University of
Kentucky.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Frederick W. Jones </font></font><font size="2" style="FONT-FAMILY: serif">was promoted to Vice President of Finance of MTI Instruments in April,
2010, from the Senior Director of Finance and Operations at MTI Instruments,
Inc., which he had held since May 2007. He has also been serving as the Acting
Chief Financial Officer of MTI since June 2009. Since joining the Company in
1993, Mr. Jones has held a variety of roles at MTI and its subsidiaries,
including Staff Accountant, Controller and Director of Finance and
Administration. In his current capacity, Mr. Jones supervises the financial
reporting, Sarbanes-Oxley compliance, treasury, human resources and risk
management for MTI. In addition, Mr. Jones also oversees the production, quality
and shipping departments of MTI Instruments. Prior to his employment with MTI,
Mr. Jones served as Controller for both Hobbs Management Corporation and Galesi
Management Corporation. Mr. Jones received a Bachelors degree in Business
Administration and Accounting from Siena College.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Subject to any terms of any employment
agreement with the Company (as further described in the Proxy Statement), each
of the executive officers holds his respective office until the regular annual
meeting of the Board following the Annual Meeting of Stockholders and until his
successor is elected and qualified or until his earlier resignation or
removal.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">EXECUTIVE COMPENSATION </font></font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Compensation Philosophy </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The primary objectives of our compensation
policies are to attract, retain, motivate, develop, and reward our management
team for executing our strategic business plan thereby enhancing stockholder
value, while recognizing and rewarding individual and company performance. These
compensation policies include (i) an overall management compensation program
that is competitive with national and regional companies of similar size or
within our industry; and (ii) long-term incentive compensation in the form of
stock-based compensation that will encourage management to continue to focus on
stockholder return. Our executive compensation program ties a substantial
portion of each executive&#8217;s overall compensation to key strategic, financial,
and operational goals, including establishing and maintaining customer
relationships, signing OEM agreements; meeting revenue targets and profit and
expense targets; introducing new products; progressing products towards
manufacturing; and improving operational efficiency.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We believe that potential equity ownership in
our company is important to provide executive officers with incentives to build
value for our stockholders. We believe that equity awards provide executives
with a strong link to our short- and long-term performance, while creating an
ownership culture to maintain the alignment of interests between our executives
and our stockholders. When implemented responsibly, we also believe these equity
incentives can function as a powerful executive retention tool.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our Governance, Compensation and Nominating
Committee, consisting entirely of independent directors, administers our
compensation plans and policies, including the establishment of policies that
govern base salary as well as short- and long-term incentives for our executive
management team.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Summary of Cash and Other Compensation
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The following table sets forth the total
compensation received for services rendered in all capacities to our company
during the fiscal years ended December 31, 2008 and 2009 by our three &#8220;named
executive officers,&#8221; namely Peng K. Lim, our Chief Executive Officer, and our
two other executive officers during fiscal 2009.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">15 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">SUMMARY COMPENSATION TABLE </font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td nowrap width="52%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Non-Equity</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
          </tr><tr valign="bottom">
            <td nowrap width="52%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Incentive</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
          </tr><tr valign="bottom">
            <td nowrap width="52%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Plan</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">All Other</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
          </tr><tr valign="bottom">
            <td nowrap width="52%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Stock</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Option</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Compensa-</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Compensa-</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
          </tr><tr valign="bottom">
            <td nowrap width="52%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Name and Principal</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Salary</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Bonus</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Awards</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Awards</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">tion</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">tion</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Total</font></font></td>
          </tr><tr valign="bottom">
            <td nowrap width="52%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Position</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Year</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">$</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">$</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">($)(1)</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">($)(2)</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">($)</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">($)</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">(3)</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">($)</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">Peng K. Lim</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">2009</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">381,411</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;&#160;&#160;&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">$</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;&#160;&#160;&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">71,120</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;&#160;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;&#160;&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">87,500</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">(4)&#160;&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font color="#ffffff" size="1" style="FONT-FAMILY: serif"><font color="#000000">$</font></font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">11,796</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;&#160;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">551,827</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1">&#160;&#160;</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      Chief Executive Officer (6)</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">2008</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">300,000</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">259,607</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">175,000</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">(5)</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">10,579</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">745,186</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr>
            <td align="left" nowrap width="52%">&#160;</td>
            <td align="left" nowrap width="1%">
            </td>
            <td nowrap width="4%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="4%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="2%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="2%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="3%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="2%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">Frederick W. Jones</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">2009</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">110,002</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">6,096</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">6,400</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">(10)</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">4,751</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">127,249</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      Acting Chief Financial</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      Officer, MTI and</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      subsidiaries, Vice</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      President of Finance &amp;</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      Operations of MTI</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      Instruments(7)</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr>
            <td align="left" nowrap width="52%">&#160;</td>
            <td align="left" nowrap width="1%">
            </td>
            <td nowrap width="4%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="4%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="2%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="2%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="3%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="2%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">James K. Prueitt,</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">2009</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">188,300</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">7,358</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">195,658</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      Vice President of</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      Engineering and</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      Operations, MTI</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">2008</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">188,300</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">29,009</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">18,830</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">(7)</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">5,372</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="1" style="FONT-FAMILY: serif">241,511</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="52%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;
      MicroFuel Cells Inc(8) (9)</font></font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="3%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">The
      amounts shown in this column represent the grant date fair values of
      restricted stock awards awarded each of the past two years. The award
      values prior to 2009 were recalculated from the amounts shown in prior
      Proxy Statements to reflect the grant date fair value, as required by SEC
      rules effective for 2010. The assumptions we use in calculating these
      amounts are discussed in Note 13 to the financial statements on the
      Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2009,
      filed with the SEC on March 31, 2010.</font></td>
          </tr><tr>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(2)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">The
      amounts shown in this column represent the grant date fair values of any
      stock option awards awarded each of the past two years. The award values
      prior to 2009 were recalculated from the amounts shown in prior Proxy
      Statements to reflect the grant date fair value, as required by SEC rules
      effective for 2010. The assumptions we use in calculating these amounts
      are discussed in Note 13 to the financial statements on the Company&#8217;s
      Annual Report on Form 10-K for the year ended December 31, 2009, filed
      with the SEC on March 30, 2010.</font></td>
          </tr><tr>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(3)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">The
      following is a summary of the major categories included in &#8216;All Other
      Compensation:&#8217;</font></td>
          </tr></table>
    </div>&#160;<br>
    <div style="TEXT-ALIGN: center">
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; TEXT-ALIGN: center; ">
<tr valign="bottom" style="TEXT-ALIGN: center;">
            <td nowrap width="75%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="18" nowrap width="24%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">2009 All Other
    Compensation</font></font></td>
          </tr><tr valign="bottom">
            <td nowrap width="75%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font size="1" style="DISPLAY: inline; FONT-WEIGHT: bold">Total -</font></td>
          </tr><tr valign="bottom">
            <td nowrap width="75%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">401(k)</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="3" nowrap width="5%" style="TEXT-ALIGN: center">&#160;</td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td colspan="4" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">All Other</font></font></td>
          </tr><tr valign="bottom">
            <td nowrap width="75%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Matching</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="3" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Severance</font></font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1" style="DISPLAY: inline; FONT-WEIGHT: bold">Other</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td colspan="4" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Compensation</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="75%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2">&#160;&#160;&#160; </font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">11,180</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2">&#160;&#160;&#160; </font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2">&#160;&#160;&#160; </font></td>
            <td nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$&#160;&#8212;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2">&#160;&#160;&#160; </font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2">&#160;&#160;&#160; </font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0">&#160;<font size="2" style="FONT-FAMILY: serif">617</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2">&#160;&#160;&#160; </font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2">&#160;&#160;&#160; </font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$</font></td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">11,796</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2">&#160;&#160;&#160; </font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="75%" bgcolor="#ffffff"><font size="2" style="FONT-FAMILY: serif">Frederick W. Jones</font></td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#ffffff"><font size="2" style="FONT-FAMILY: serif">4,751</font></td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
            <td nowrap width="3%" bgcolor="#ffffff"><font size="2" style="FONT-FAMILY: serif">&#160;&#160; &#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#ffffff">&#160; <font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
            <td align="left" nowrap width="1%" bgcolor="#ffffff">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#ffffff"><font size="2" style="FONT-FAMILY: serif">4,751</font></td>
            <td align="right" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="75%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">James K. Prueitt</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">7,358</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#160;&#160; &#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0">&#160;<font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">7,358</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(4)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Mr.
      Lim is eligible for a potential bonus of up to $175,000 for the period
      June 1, 2009 &#8211; May 31, 2010 based on the achievement of certain
      performance objectives. As of December 31, 2009, 50% of the bonus had been
      earned.</font></td>
          </tr><tr>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(5)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">The
      Company had accrued for Mr. Lim, as of December 31, 2008, a $175,000 bonus
      related to successful completion of certain performance objectives
      established for 2008. The entire $175,000 was paid out in
  2009.</font></td>
          </tr><tr>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(6)</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Included in Mr. Lim&#8217;s salary for 2009 is $41,665 of compensation
      which Mr. Lim elected to defer during the period January 1, 2009 &#8211; May 31,
      2009 and $50,000 of compensation in consideration of Mr. Lim&#8217;s
      postponement of his annual salary increase from his May 2008 anniversary
      date until January 2009. These were converted, net of taxes to 753,558
      shares of MTI Micro common stock as part of MTI Micro&#8217;s December 9, 2009
      Secured Convertible Promissory Note Negotiated Conversion
    Agreement.</font></td>
          </tr></table>
    </div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">&#160;</font></div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">16</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(7)</font></td>
            <td valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Mr.
      Jones did not become a named executive officer until 2009.</font></td>
          </tr><tr>
            <td colspan="3" valign="top">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(8)</font></td>
            <td valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">Included in Mr. Prueitt&#8217;s salary for 2009 is $4,345 of compensation
      which Mr. Prueitt elected to defer during the period March 1, 2009 &#8211; May
      31, 2009 which was converted, net of taxes, to 58,806 shares of MTI Micro
      common stock as part of MTI Micro&#8217;s December 9, 2009 Secured Convertible
      Promissory Note Negotiated Conversion Agreement.</font></td>
          </tr><tr>
            <td colspan="3" valign="top">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(9)</font></td>
            <td valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">The
      Company had accrued for Mr. Prueitt, as of December 31, 2008, an $18,830
      bonus related to successful completion of certain performance objectives
      established for 2008. The entire $18,830 was paid out in
2009.</font></td>
          </tr><tr>
            <td colspan="3" valign="top">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(10)</font></td>
            <td valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: serif">The
      Company has accrued for Mr. Jones, as of December 31, 2009, $6,400 related
      to successful completion of certain performance objectives established for
      2009. The entire amount was paid out in
2010.</font></td>
          </tr></table>
    </div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Base Salary and Cash Incentives of the Chief
Executive Officer </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Mr. Lim joined our company in May 2006 as
President and Chief Executive Officer of MTI Micro at an annual salary of
$300,000, and was promoted to our Chief Executive Officer in December 2006,
receiving no base salary change. During our annual Chief Executive Officer
compensation review in 2007, the Governance, Compensation and Nominating
Committee engaged Radford to review the compensation package of our Chief
Executive Officer based upon competitive market data. After consideration of the
analysis and information provided by and the recommendations from Radford, we
determined that no base salary adjustment was required for Mr. Lim during 2007.
Mr. Lim&#8217;s base salary was not changed during 2008.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Effective January 1, 2009, Mr. Lim&#8217;s base
annual salary was increased to $350,000 with a cash incentive compensation bonus
targeted at 50% of base salary as described in his employment agreement dated
December 31, 2008. As part of Mr. Lim&#8217;s amended employment agreement, Mr. Lim&#8217;s
salary was reduced by $8,333 per month (or 28.57%) for the months of January and
February 2009.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On February 24, 2009, we entered into a letter
agreement with Mr. Lim amending certain terms of Mr. Lim&#8217;s current employment
agreement. In an effort to reduce our cash requirements, Mr. Lim agreed to
extend the deferral of $8,333 (or 28.57%) of his base salary per month
commencing March 1, 2009 through May 31, 2009.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif"> In consideration of Mr. Lim&#8217;s postponement of
his annual salary increase from his May 2008 anniversary date until January 2009
and for the salary deferrals from January 1 through May 31, 2009, net of taxes,
Mr. Lim was issued 753,558 shares of MTI Micro common stock as part of MTI
Micro&#8217;s December 9, 2009 Secured Convertible Promissory Note Negotiated
Conversion Agreement.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In April 2010, Mr. Lim voluntarily reduced the
portion of his monthly salary that is allocated to MTI Micro from $9,722.22 to
$2,430.56 as part of a cash conservation program. The voluntary reduction in
salary does not affect the amount of potential bonus or severance benefits that
Mr. Lim is otherwise entitled to under the terms of his employment agreement,
and will continue until such time as MTI Micro secures additional funding. The
portions of his salary allocated to MTII and MTI were not affected.
</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">During 2008 and 2009, Mr. Lim participated in
an annual cash incentive compensation plan with a bonus targeted at 50% of base
salary as described in his employment agreement. Mr. Lim was paid a $175,000
bonus in 2009 related to his performance in 2008 under his annual cash incentive
plan.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Mr. Lim is eligible for future bonus
arrangements with a targeted annual payout of 50% of base salary payable for the
twelve month period of June through May each year. Any future bonus compensation
to Mr. Lim will be contingent solely upon the determination of the Governance,
Compensation and Nominating Committee that set objectives for Mr. Lim have been
satisfied. For the June 2009 to May 2010 period, 50% of Mr. Lim&#8217;s bonus target
will be based on MTI Instruments achieving certain revenue and cash flow targets
in 2009, and 50% will be based on MTI Micro receiving additional government
funding on or before May 8, 2010. We have accrued for Mr. Lim, as of December
31, 2009, a $95,455 bonus under his annual cash incentive compensation
plan.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Base Salary and Cash Incentives of Other Named
Executive Officers </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We evaluated other named executive officer
base salaries during 2009 and maintained current base salary levels for all of
our other named executive officers. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">17 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On February 24, 2009, we entered into a letter
agreement with Mr. Prueitt amending certain terms of Mr. Prueitt&#8217;s current
employment agreement dated December 31, 2008. In an effort to reduce our cash
requirements, Mr. Prueitt agreed to defer 10% of his monthly base salary per
month ($1,569.16 per month) commencing March 1, 2009 through May 31, 2009. In
consideration of this salary deferral, Mr. Prueitt was paid for such deferred
salary amounts, less appropriate tax withholdings, by the issuance of 58,806
shares of MTI Micro common stock as part of MTI Micro&#8217;s December 9, 2009 Secured
Convertible Promissory Note Negotiated Conversion Agreement.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">As part of a cash conservation program at MTI
Micro, Mr. Prueitt&#8217;s salary was reduced by 20% starting April 12 and continuing
until such time as MTI Micro secures additional funding.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Mr. Prueitt is eligible to receive a bonus
payment for the period from May 2009 to May 2010 of up to 10% of his base salary
if MTI Micro receives additional government funding on or before May 8, 2010 and
meets certain milestone developments before the same date. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">During 2008, Mr. Prueitt participated in an
annual cash incentive compensation plan and was paid a bonus of $18,830 based on
the successful completion of certain performance objectives established for
2008.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In addition to base salary compensation, we
consider short-term cash incentives to be an important tool in motivating and
rewarding near-term performance against established short-term goals. We do not
utilize a specific formula, but executive management is eligible for cash awards
contingent upon achievement of individual, financial, or company-wide
performance criteria. The criteria are established to ensure that a reasonable
portion of an executive&#8217;s total annual compensation is performance based.
</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We believe that the higher an executive&#8217;s
level of responsibility, the greater the portion of that executive&#8217;s total
earnings potential should be tied to the achievement of critical technological,
operational and financial goals. Our Chief Executive Officer generally is
eligible for annual cash incentive awards of up to 50% of his base salary, with
other named executive officer eligibility between 5% and 10% of base salary. We
believe this strategy places the desired proportionate level of risk and reward
on performance by the Chief Executive Officer and other named executive
officers.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">While performance targets are established at
levels that are intended to be achievable, we believe that we have structured
these incentives so that maximum bonus payouts would require a substantial level
of both individual and company performance.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Long-Term Equity Incentive Compensation
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Equity awards typically take the form of stock
options and restricted stock grants. Authority to make equity awards to
executive officers rests with our Governance, Compensation and Nominating
Committee. In determining the size of awards for new or current executives, we
consider the competitive market, strategic plan performance, contribution to
future initiatives, benchmarking of comparative equity ownership for executives
in comparable positions at similar companies, individual option history, and
recommendations of our Chief Executive Officer and Chairman.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We generally base our criteria for
performance-based equity awards on one or more of the following long-term
measurements:</font></div>
    <ul style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
      <li><font size="2" style="FONT-FAMILY: serif">procurement and maintenance of OEM
  alliance/strategic agreements;</font> <br>&#160;
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">manufacturing readiness;</font>
  <br>&#160;
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">financing targets;</font>
  <br>&#160;
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">gross revenue and profit
  goals;</font> <br>&#160;
        </li>
      <li><font size="2" style="FONT-FAMILY: serif">operating expense improvements;
  and</font> </li>
    </ul>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">18 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <ul style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
      <li><font size="2" style="FONT-FAMILY: serif">product launches, new product
  introductions or improvements to existing products or product-intent</font>
  <font size="2" style="FONT-FAMILY: serif">prototypes.</font> </li>
    </ul>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">These performance measurements support various
initiatives identified by our Board of Directors as critical to our future
success, and are either expressed as absolute in terms of success or failure, or
will be measured in more qualitative terms.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The timing of all equity awards for our Chief
Executive Officer and our Chief Financial Officer in the past have generally
coincided with either employment anniversary dates or the annual meeting dates.
Other executive officer equity awards have occurred in conjunction with
completion or assignment of objectives, promotions, commencement of employment,
or coincide with our annual meeting date. We do not time option grants to our
executives in coordination with the release of material non-public information,
nor do we impose any equity ownership guidelines on our executives.
</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The following table sets forth certain
information regarding the options held and value of each such officer&#8217;s
unexercised options as of December 31, 2009. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END
2009</font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 12pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="10" nowrap width="22%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
            <td nowrap width="1%">
            </td>
            <td colspan="4" nowrap width="9%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Option Awards</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="5%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Equity Incentive</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="4%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Number of</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Number of</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Plan Awards:</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="4%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Securities</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Securities</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Number of Securities</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="4%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
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            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Underlying</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Underlying</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="4%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Unexercised</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Unexercised</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Unexercised</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Option</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Option Grant</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Options (#)</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Options (#)</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Unearned Options</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Exercise Price</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Option Expiration</font></font></td>
          </tr><tr valign="bottom">
            <td width="66%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Name</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Date</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td colspan="2" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Exercisable</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Unexercisable</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td colspan="2" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">(#)</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td colspan="2" nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">($)</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Date</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">05/08/2006</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">20,213</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">35.44</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">05/07/2013</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">05/08/2006</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">35,553</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">5,072</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">35.44</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">05/07/2013</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">05/08/2006</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">20,313</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">35.44</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">05/07/2013</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">06/18/2007</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">8,750</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">10.72</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">06/17/2014</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">06/18/2007</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">14,224</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">14,214</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">(2)</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">10.72</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">06/17/2014</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">06/18/2007</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">6,563</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">10.72</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">06/17/2014</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">05/21/2008</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">13,750</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">13,750</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">(3)</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">3.60</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">05/20/2015</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">05/21/2008</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">5,000</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">5,000</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">(4)</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">3.60</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
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            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">12/31/2008</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
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            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">46,668</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">23,332</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">(5)</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">1.16</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">12/31/2015</font></td>
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            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">11/13/2009</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">35,000</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">35,000</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">(6)</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
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            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">1.40</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">11/13/2019</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%"><font size="2" style="FONT-FAMILY: serif">James
      K. Prueitt</font></td>
            <td align="right" width="1%">&#160;</td>
            <td width="3%"><font size="2" style="FONT-FAMILY: serif">03/17/2007</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="5%"><font size="2" style="FONT-FAMILY: serif">4,375</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="3%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">10.72</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">03/16/2014</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%"><font size="2" style="FONT-FAMILY: serif">10/08/2007</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="5%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="3%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">6,250</font></td>
            <td align="left" width="2%"><font size="2" style="FONT-FAMILY: serif">(7)</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">9.84</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">10/07/2014</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%"><font size="2" style="FONT-FAMILY: serif">10/08/2007</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="5%"><font size="2" style="FONT-FAMILY: serif">9,376</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="3%"><font size="2" style="FONT-FAMILY: serif">9,374</font></td>
            <td align="left" width="1%"><font size="2" style="FONT-FAMILY: serif">(8)</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">9.84</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">10/07/2014</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%"><font size="2" style="FONT-FAMILY: serif">05/21/2008</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="5%"><font size="2" style="FONT-FAMILY: serif">8,750</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">&#160;</td>
            <td align="right" width="3%"><font size="2" style="FONT-FAMILY: serif">8,750</font></td>
            <td align="left" width="1%"><font size="2" style="FONT-FAMILY: serif">(9)</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%">&#160;</td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">3.60</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">&#160;</td>
            <td width="3%" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">05/20/2015</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%"><font size="2" style="FONT-FAMILY: serif">04/19/2006</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="5%"><font size="2" style="FONT-FAMILY: serif">1,875</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="3%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%">&#160;</td>
            <td align="right" width="1%">&#160;</td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">35.04</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">04/18/2016</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%"><font size="2" style="FONT-FAMILY: serif">04/19/2006</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="5%"><font size="2" style="FONT-FAMILY: serif">2,346</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="3%"><font size="2" style="FONT-FAMILY: serif">779</font></td>
            <td align="left" width="1%"><font size="2" style="FONT-FAMILY: serif">(10)</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%">
            </td>
            <td align="right" width="1%">&#160;</td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">35.04</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">04/18/2016</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Frederick Jones</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">12/15/2000</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">1,250</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">23.00</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">12/14/2010</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">04/17/2003</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">938</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">16.15</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">04/16/2013</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">06/23/2004</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">469</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">49.33</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">06/22/2014</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">09/23/2004</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">657</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">33.08</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">09/22/2014</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">03/17/2007</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">750</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">10.72</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">03/16/2014</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="66%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">11/13/2009</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">3,000</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">3,000</font></td>
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            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">1.40</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: right"><font size="2" style="FONT-FAMILY: serif">11/13/2019</font></td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="FONT-SIZE: 10pt; LINE-HEIGHT: 12pt; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td nowrap>&#160;&#160;&#160;&#160;&#160;&#160;&#160; </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options vest
      at a rate of 6.25% per quarter beginning August 8, 2006, becoming fully
      exercisable on May 8, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(2)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options vest
      at a rate of 6.25% quarterly beginning January 1, 2008, becoming fully
      exercisable on October 1, 2011 unless performance targets for accelerated
      vesting of this grant are achieved.</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">19</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br><a name="page_2"><!--EFPlaceholder-->
</a>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="FONT-SIZE: 10pt; LINE-HEIGHT: 12pt; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(3)</font></td>
            <td nowrap>&#160;&#160;&#160;&#160;&#160;&#160;&#160; </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options vest
      at a rate of 50% annually beginning May 21, 2009, becoming fully
      exercisable on May 21, 2010</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(4)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options vest
      at a rate of 50% annually beginning May 21, 2009, becoming fully
      exercisable on May 21, 2010</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(5)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options
      vested 50% immediately on the grant date, with the remaining options
      vesting at a rate of 4.17% quarterly over three years beginning March 31,
      2009, becoming fully exercisable on December 31, 2011.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(6)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options
      vested 50% immediately on the grant date, with the remaining options
      vesting at a rate of 4.17% quarterly over three years beginning February
      13, 2010, becoming fully exercisable on November 13, 2012.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(7)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options were
      scheduled to vest 100% only upon successful achievement of performance
      targets by March 31, 2010. The performance targets were not met and the
      options were cancelled.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(8)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options
      vested at a rate of 25% on the first anniversary of the grant date and
      6.25% on each quarterly anniversary thereafter beginning October 1, 2009,
      becoming fully exercisable on October 8, 2011 unless performance targets
      for accelerated vesting of this grant are achieved.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(9)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options vest
      at a rate of 50% annually beginning on the first anniversary of the grant
      date, becoming fully exercisable on May 21, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(10)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The options vest
      at a rate of 25% annually beginning on the first anniversary of the grant
      date, becoming fully exercisable on April 19,
2010.</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Equity Awards to Officers </font></font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Equity Awards of the Chief Executive Officer
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: serif">During November 2009, we awarded Mr. Lim the following: </font></div>
    <ul style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
      <li><font size="2" style="FONT-FAMILY: serif">options to purchase 70,000 shares
  of Common Stock that vested 50% on November 13, 2009, with the</font> <font size="2" style="FONT-FAMILY: serif">remaining options vesting quarterly over
  three years beginning February 13, 2010, with a 10-year term.</font> </li>
    </ul>
    <div align="justify"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Equity Awards of Other Named Executive
Officers </font></font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160; </font>During November 2009, we awarded Mr.
Jones the following: </font></div>
    <ul style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
      <li><font size="2" style="FONT-FAMILY: serif">options to purchase 6,000 shares
  of Common Stock that vested 50% on November 13, 2009, with the</font> <font size="2" style="FONT-FAMILY: serif">remaining options vesting quarterly over
  three years beginning February 13, 2010, with a 10-year term.</font> </li>
    </ul>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">MTI Equity Incentive Plans
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">As of December 31, 2009, we have three equity
compensation plans: 1) 1996 Stock Incentive Plan; 2) 1999 Employee Stock
Incentive Plan; and 3) 2006 Equity Incentive Plan. The Governance, Compensation
and Nominating Committee administers all equity compensation plans and has the
authority to determine the terms and conditions of the awards granted under
equity plans. </font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">1996 Stock Incentive Plan </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The 1996 Stock Incentive Plan, or 1996 Plan,
was approved by our stockholders during December 1996. Under the 1996 Plan, our
Board of Directors was authorized to award stock options, stock appreciation
rights, restricted stock, and other stock-based incentives to our officers,
employees and others. As of December 31, 2009, there were 71,591 options
outstanding under the 1996 Plan, of which 71,023 were exercisable with zero
shares reserved for future grants. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">20</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br><a name="page_3"><!--EFPlaceholder-->
</a>
    <div align="justify"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">1999 Employee Stock Incentive Plan
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The 1999 Employee Stock Incentive Plan, or
1999 Plan, was approved by our stockholders during March 1999. Under the 1999
Plan, our Board of Directors is authorized to award stock options and restricted
stock to our officers, employees and others. The 1999 Plan expired on March 18,
2009. As of December 31, 2009, options to purchase 367,278 shares of our Common
Stock were outstanding under the 1999 Plan, of which 315,332 were exercisable
with zero shares reserved for future grants. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Options issued under both the 1996 Plan and
1999 Plan terminate between seven and ten years after the date of grant. Stock
option grants or restricted stock awards under these plans can be issued to vest
immediately, vest over a certain period, vest based upon successful completion
of a performance measure specified by our Governance, Compensation and
Nominating Committee, or a prescribed combination of performance and time
vesting (i.e. a time vesting option accelerated by achievement of a performance
objective or a performance vesting option that will vest at a certain date in
the future). </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The 1996 Plan and 1999 Plan provide that in
the event of a change of control all unexercised and outstanding options and
restricted stock shall become fully vested and exercisable as of the date of the
change of control, provided the optionee is employed by us at the date of the
change. This is commonly referred to as a single trigger acceleration of option
vesting. </font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">2006 Equity Incentive Plan</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif"> </font></font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The 2006 Equity Incentive Plan, or 2006 Plan,
was approved by our stockholders during May 2006. The plan was amended and
restated by our Board effective September 16, 2009 to increase the initial
aggregate number of 250,000 shares of common stock which may be awarded or
issued to 600,000.</font><font size="1" style="FONT-FAMILY: serif"> </font><font size="2" style="FONT-FAMILY: serif">We were not required to obtain stockholder
approval of the amendment. Under the 2006 Plan, the Board of Directors is
authorized to issue stock options, stock appreciation rights, restricted stock,
and other stock-based incentives to officers, employees and others. The number
of shares which may be awarded under the 2006 Plan and awards outstanding have
been adjusted for stock splits and other similar events. As of December 31,
2009, 277,534 options to purchase our Common Stock were outstanding under the
2006 Plan, of which 185,262 were exercisable with an additional 316,216 shares
reserved for future grants. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The 2006 Plan provides for the grant of
incentive stock options intended to qualify under Section 422 of the Internal
Revenue Code of 1986, nonqualified stock options, stock appreciation rights,
restricted stock, restricted stock units and other stock-based awards.
</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our Governance, Compensation and Nominating
Committee selects the recipients of awards and determines (i) the number of
shares of Common Stock covered by options and the dates upon which such options
become exercisable, (ii) the exercise price of options (which may not be less
than 100% of fair market value of the Common Stock), (iii) the duration of
options (which may not exceed seven years), and (iv) the number of shares of
Common Stock subject to any stock appreciation rights, restricted stock award,
restricted stock unit award or other stock-based awards and the terms and
conditions of such awards, including conditions for forfeiture, repurchase,
issue price and repurchase price, if any. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Upon a &#8220;Substantial Corporate Change,&#8221; as such
term is defined in the 2006 Plan, the 2006 Plan and any unexercised or
forfeitable awards will terminate unless either (i) an award agreement with a
participant provides otherwise or (ii) provision is made in writing in
connection with such transaction for the assumption or continuation of
outstanding awards, or the substitution for such awards with awards covering the
stock or securities of a successor employer entity, or a parent or subsidiary of
such successor. If an award would otherwise terminate under the preceding
sentence, we will either provide that optionees or holders of stock appreciation
rights or other exercisable awards will have the right, at such time before the
completion of the transaction causing such termination as we reasonably
designate, to exercise any unexercised portions of the options or stock
appreciation rights or other exercisable awards, including portions of such
awards not already exercisable, or for any awards including the foregoing, cause
us, or agree to allow the successor, to cancel each award after payment to the
participant of an amount, if any, in cash, cash equivalents, or successor equity
interests substantially equal to the fair market value of the consideration (as
valued by the administrator) paid for our shares, under the transaction minus,
for options and </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">21</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br><a name="page_4"><!--EFPlaceholder-->
</a>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">stock appreciation
rights or other exercisable awards, the exercise price for the shares covered by
such awards (and, for any awards, where we determine it is appropriate, any
required tax withholdings), and with such allocation among cash, cash
equivalents, and successor equity interests as we determine or approve.
</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Perquisites and Other Benefits
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our executive officers are eligible to
participate in similar benefit plans available to all our other employees
including medical, dental, vision, group life, disability, accidental death and
dismemberment, paid time off, and 401(k) plan benefits. In addition, we pay 100%
of Mr. Lim&#8217;s group term life insurance premiums, representing an additional cost
in 2009 of $617. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We also maintain a standard directors and
officers liability insurance policy with coverage similar to the coverage
typically provided by other small publicly held technology companies.
</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Severance, Change in Control and Non-Compete
Agreements </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Most of the our executive officers are
entitled to receive severance payments equal to a specified number of months of
base salary and benefits in the event their employment is terminated &#8220;without
cause&#8221; or in Mr. Lim&#8217;s case, if he is terminated &#8220;without cause&#8221; or if he
terminates his employment with us for &#8220;good reason.&#8221; Mr. Lim&#8217;s stock options are
also subject to acceleration or a continuation of vesting should we terminate
his employment without cause or if he terminates his employment with us for good
reason.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">A change in control will accelerate the
vesting of outstanding stock options issued under the 1996 and 1999 Stock
Incentive Plans; however options outstanding under the 2006 Equity Plan will not
automatically accelerate vesting unless provided in an employment agreement. See
&#8220;Employment Agreements.&#8221; </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We believe these severance and change in
control arrangements are reasonable and mitigate some of the risk that exists
for executives working in small technology companies by maintaining employee
engagement and encouraging retention in an environment with substantial
challenges and changes. This is especially true considering each executive
officer has signed a Non-Competition and Non-Solicitation Agreement limiting
future opportunities in the event the executive&#8217;s employment is terminated for
any reason. These agreements specify that the executive will not compete with
our businesses for a period of one year following such termination.
</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-STYLE: italic">Peng K. Lim </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Mr. Peng&#8217;s amended employment agreement also
provides that if we terminate Mr. Lim&#8217;s employment without cause or if Mr. Lim
terminates his employment for good reason he will receive 1) his accrued salary,
business expenses, and earned bonus through the date of termination; 2) 100% of
his regular base salary and target bonus (in monthly installments) for 12
months, and certain other benefits for one year from the date of termination; 3)
the first year premium for converting his group life insurance coverage to an
individual policy; and 4) continued vesting of his outstanding options at the
rate described in the each respective option agreement (including the full
acceleration of the vesting of the performance-based options) for one year from
the date of termination, with continued exercisability for all vested options
for five years following the period ending one year after the date of
termination. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">If Mr. Lim&#8217;s employment is terminated for
&#8220;cause,&#8221; Mr. Lim will receive his accrued salary, business expenses, and earned
bonus through the date of termination. If Mr. Lim&#8217;s employment is terminated by
reason of death or disability, in addition to these accrued entitlements, Mr.
Lim will receive a pro-rata bonus, continuation of vesting of outstanding
time-based options for one additional quarter, vesting of performance-based
options as of the date of termination, and all vested options will remain
exercisable for one year. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">For purposes of this agreement, &#8220;cause&#8221; means
gross misconduct, gross negligence, theft, dishonesty, fraud, or gross
dereliction of duties; or indictment on any felony charge or misdemeanor charge
involving theft, moral turpitude; or a violation of the federal securities laws
whether or not related to his conduct at work. &#8220;Good reason&#8221; means our failure
to renew the agreement at substantially equivalent or greater salary and target
bonus; a significant diminution of Mr. Lim&#8217;s job title, responsibilities or
reporting relationship; or relocation of the job to a location outside a 50 mile
radius of MTI Micro&#8217;s office location on the commencement date. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">22</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br><a name="page_5"><!--EFPlaceholder-->
</a>
    <div align="justify"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Other Named Executive Officers
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our employment agreement with Mr. Prueitt
provides that if we terminate Mr. Prueitt&#8217;s employment without cause, he will
continue to receive his base salary and benefits for a four-month period. In
addition, Mr. Jones is entitled to receive his base salary and benefits for a
four month period if he is terminated in connection with a change of control of
MTI Instruments. </font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Potential Payments upon Termination
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The following table sets forth a breakdown of
termination payments and the net realizable value of stock and stock options if
the employment of any of our named executive officers had been terminated as of
December 31, 2009. Severance payments are made either on a salary continuation
basis paid over the severance period or on a lump sum basis payable upon a fixed
date subsequent to termination of employment.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 12pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" width="63%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="5%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="6%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Intrinsic</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="63%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="5%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="7%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Health &amp;</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Value of</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="63%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="5%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="7%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Life</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Stock</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="63%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="5%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Guaranteed</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="7%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Insurance</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Options at</font></font></td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Accrued</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="63%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Name</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Severance Term</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Salary</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Bonus</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td colspan="2" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Continuation</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Separation</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Vacation</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160; </td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Total</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" width="63%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">One (1) year salary &amp; benefits</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$350,000</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" nowrap width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$175,000&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2">$</font><font size="2" style="FONT-FAMILY: serif">14,122</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$&#8212;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$14,492</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">$553,614</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="63%"><font size="2" style="FONT-FAMILY: serif">James
      K. Prueitt</font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%"><font size="2" style="FONT-FAMILY: serif">Four (4)
      months salary &amp; benefits</font></td>
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: serif">62,767</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="5%"><font size="2" style="FONT-FAMILY: serif">&#8212;&#160;</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="6%"><font size="2" style="FONT-FAMILY: serif">5,978</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: serif">7,797</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: serif">76,542</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="63%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Frederick Jones</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Four (4) months salary &amp; benefits (A)</font></td>
            <td align="left" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">43,708</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;&#160;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">5,170</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">4,483</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">4,483</font></td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; LINE-HEIGHT: 12pt; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify; ">
<tr>
            <td valign="top" width="1%">
              <div align="justify"><font size="2" style="FONT-FAMILY: serif">(A)</font></div>
            </td>
            <td valign="top" width="1%">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </td>
            <td valign="top" width="97%">
              <div align="justify"><font size="2" style="FONT-FAMILY: serif">Mr. Jones is
      only entitled to severance if he is terminated in connection with a change
      of control of MTI Instruments.</font></div>
            </td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Directors&#8217; Compensation </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Directors who are also our employees are not
compensated for serving on the Board. Information regarding compensation
otherwise received by our directors who are also executive officers is provided
under the heading &#8220;Executive Compensation.&#8221; </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On April 20, 2007, our Board of Directors
adopted a new compensation plan for non-management directors that eliminated the
quarterly cash retainer compensation of $12,000 per year, after reducing it from
$16,000 per year, on March 13, 2007. Beginning in 2007, non-employee directors
annually received the following: 1) options to purchase 50,000 shares of our
Common Stock, 2) the Chairman of the Audit Committee, the Chairman of the
Governance, Compensation and Nominating Committee each received additional
options to purchase 7,500 shares of our Common Stock, and 3) members of the
Audit Committee, the Governance, Compensation and Nominating Committee and the
Technical Committee of our MTI Micro subsidiary each received additional options
to purchase 5,000 shares of our Common Stock. Future compensation will be issued
on an annual basis thereafter on the third Monday of each March. These options
were priced based on the closing price of our Common Stock on the date of grant,
vest immediately and have a seven-year term. Each non-employee director is also
reimbursed for reasonable travel and related expenses incurred on our behalf.
</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On March 12, 2008, the Board of Directors
approved the deferral of the issuance of all annual stock option compensation
for the Company&#8217;s non-management directors until a later date in 2008. The Board
of Directors determined in November 2008 to waive any cash compensation for the
Company&#8217;s non-management directors for fiscal 2008. The Board also waived its
cash fees for fiscal 2009.</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">On September 18, 2009, the Board of Directors
approved a grant of 15,000 stock options to each non-management Director to
purchase shares of our common stock. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">23</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br><a name="page_6"><!--EFPlaceholder-->
</a>
    <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">DIRECTOR COMPENSATION FOR FISCAL YEAR 2009 </font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 12pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" colspan="2" width="83%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">All</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" colspan="2" width="83%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Fees Earned or</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Option</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Other</font></font></td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="3%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Name</font></font></td>
            <td align="left" width="82%">&#160;</td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Paid in Cash ($)</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Awards (5)($</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">)</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Compensation</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Total ($</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">)</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" colspan="2" width="83%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Thomas J. Marusak (1)</font></td>
            <td width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">12,356</font></td>
            <td width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">12,356</font></td>
          </tr><tr valign="bottom">
            <td align="left" colspan="2" width="83%"><font size="2" style="FONT-FAMILY: serif">E. Dennis O&#8217;Connor (2)</font></td>
            <td width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">12,356</font></td>
            <td width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">12,356</font></td>
          </tr><tr valign="bottom">
            <td align="left" colspan="2" width="83%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">William P. Phelan (3)</font></td>
            <td width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">12,356</font></td>
            <td width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td width="1%" bgcolor="#c0c0c0">
            </td>
            <td width="3%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">12,356</font></td>
          </tr><tr valign="bottom">
            <td align="left" colspan="2" width="83%"><font size="2" style="FONT-FAMILY: serif">Dr. Walter Robb (4)</font></td>
            <td width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">12,356</font></td>
            <td width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">&#8212;</font></td>
            <td width="1%">
            </td>
            <td width="3%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">12,356</font></td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="FONT-SIZE: 10pt; LINE-HEIGHT: 12pt; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td nowrap>&#160;&#160;&#160;&#160;&#160;&#160;&#160; </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">As of December
      31, 2009, Mr. Marusak had 31,147 options outstanding and
      exercisable.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(2)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">As of December
      31, 2009, Mr. O&#8217;Connor had 45,012 options outstanding and
      exercisable.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(3)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">As of December
      31, 2009, Mr. Phelan had 33,127 options outstanding and
    exercisable.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(4)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">As of December
      31, 2009, Dr. Robb had 44,607 options outstanding and
    exercisable.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(5)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The amounts shown
      in this column represent the grant date fair values of stock option awards
      awarded during 2009.</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">ADDITIONAL INFORMATION</font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND<br>MANAGEMENT AND RELATED STOCKHOLDER MATTERS</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The following table sets forth information
regarding the beneficial ownership of our Common Stock as of March 31, 2010 by
each of our directors and named executive officers and all of our executive
officers and directors as a group. We are not aware of any stockholders that
beneficially own more than 5% of our Common Stock. </font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 12pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" width="85%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="5" nowrap width="14%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Shares Beneficially
    Owned</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" width="85%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="6%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="1%">
            </td>
            <td colspan="2" nowrap width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Percent of</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" width="85%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: serif">Name
      and Address of Beneficial Owner (1)</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td colspan="2" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Number (2)</font></font></td>
            <td nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td colspan="2" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-FAMILY: serif">Class</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" width="85%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: serif">Executive Officers</font></font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="6%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="85%"><font size="2" style="FONT-FAMILY: serif">Peng K.
      Lim (3)</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="6%"><font size="2" style="FONT-FAMILY: serif">253,651</font></td>
            <td align="right" width="1%">&#160;</td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">5.0</font></td>
            <td align="left" width="2%"><font size="2" style="FONT-FAMILY: serif">%</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">James K. Prueitt (4)</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">39,845</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">&#160;</td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">*</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="85%"><font size="2" style="FONT-FAMILY: serif">Frederick Jones (5)</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="6%"><font size="2" style="FONT-FAMILY: serif">7,564</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">*</font></td>
            <td align="left" width="2%">
            </td>
          </tr><tr>
            <td align="left" width="85%">&#160;</td>
            <td align="left" width="1%">
            </td>
            <td align="left" width="6%">
            </td>
            <td align="left" width="1%">
            </td>
            <td align="left" width="1%">
            </td>
            <td align="left" width="4%">
            </td>
            <td align="left" width="2%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="85%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: serif">Non-Employee Directors</font></font></td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="6%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="4%" bgcolor="#c0c0c0">
            </td>
            <td align="left" width="2%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="85%"><font size="2" style="FONT-FAMILY: serif">Thomas
      J. Marusak (6)</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="6%"><font size="2" style="FONT-FAMILY: serif">32,022</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">*</font></td>
            <td align="left" width="2%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">E. Dennis O&#8217;Connor (7)</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">62,700</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">1.3</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">%</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="85%"><font size="2" style="FONT-FAMILY: serif">William
      P. Phelan (8)</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="6%"><font size="2" style="FONT-FAMILY: serif">33,127</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">*</font></td>
            <td align="left" width="2%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Dr. Walter L. Robb (9)</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">98,982</font></td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" width="4%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">2.1</font></td>
            <td align="left" width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">%</font></td>
          </tr><tr valign="bottom">
            <td align="left" width="85%"><font size="2" style="FONT-FAMILY: serif">&#160;
      </font></td>
            <td align="right" width="1%">&#160;</td>
            <td align="right" width="6%"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
            <td align="right" width="1%">&#160;</td>
            <td align="right" width="1%">&#160;</td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
            <td align="left" width="2%"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
          </tr><tr valign="bottom" bgcolor="silver">
            <td align="left" width="85%"><font size="2" style="FONT-FAMILY: serif">All
      current directors and officers as a group (7 persons) (10)</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="6%"><font size="2" style="FONT-FAMILY: serif">527,891</font></td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="1%">
            </td>
            <td align="right" width="4%"><font size="2" style="FONT-FAMILY: serif">10.0</font></td>
            <td align="left" width="2%"><font size="2" style="FONT-FAMILY: serif">%</font></td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="FONT-SIZE: 10pt; LINE-HEIGHT: 12pt; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top">
              <div align="justify"><font size="2" style="FONT-FAMILY: serif">*</font></div>
            </td>
            <td nowrap>&#160;&#160;&#160;&#160;&#160;&#160;&#160; </td>
            <td width="100%">
              <div align="justify"><font size="2" style="FONT-FAMILY: serif">Less than
      1%.</font></div>
            </td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap>
            </td>
            <td width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">Unless otherwise
      indicated, each of the stockholders has sole voting and investment power
      with respect to the shares of Common Stock beneficially owned by the
      stockholder. The address of all listed stockholders is c/o Mechanical
      Technology, Incorporated, 431 New Karner Road, Albany, New York
      12205.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(2)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">The number of
      shares beneficially owned by each stockholder is determined under rules
      promulgated by the SEC and includes voting or investment power with
      respect to securities. Under these rules, beneficial ownership includes
      any shares as to which the individual or entity has sole or shared voting
      power or investment power and includes any shares as to which the
      individual or entity has the right to acquire beneficial ownership within
      60 days after March 31, 2010, through the exercise of any warrant, stock
      option or other right. The inclusion in this schedule of such shares,
      however, does not constitute an admission that the named stockholder is a
      direct or indirect beneficial owner of such shares. The number of shares
      of Common Stock outstanding used in calculating the percentage for each
      listed person includes the shares of Common Stock underlying options
      held</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">24</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br><a name="page_7"><!--EFPlaceholder-->
</a>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="FONT-SIZE: 10pt; LINE-HEIGHT: 12pt; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify; ">
<tr>
            <td nowrap>
            </td>
            <td nowrap>&#160;&#160;&#160;&#160;&#160;&#160;&#160; </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">by such person,
      which are exercisable within 60 days of March 31, 2010, but excludes
      shares of Common Stock underlying options held by any other person.
      Percentage of beneficial ownership is based on 4,771,658 shares of Common
      Stock outstanding as of March 31, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(3)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">Includes 242,263
      shares of Common Stock issuable upon exercise of stock options exercisable
      within 60 days of March 31, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(4)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">Includes 38,595
      shares of Common Stock issuable upon exercise of stock options exercisable
      within 60 days of March 31, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(5)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">Includes 7,564
      shares of Common Stock issuable upon exercise of stock options exercisable
      within 60 days of March 31, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(6)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">Includes 31,147
      shares of Common Stock issuable upon exercise of stock options exercisable
      within 60 days of March 31, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(7)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">Includes 43,137
      shares of Common Stock issuable upon exercise of stock options exercisable
      within 60 days of March 31, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(8)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">Includes 33,127
      shares of Common Stock issuable upon exercise of stock options exercisable
      within 60 days of March 31, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(9)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">Includes 42,732
      shares of Common Stock issuable upon exercise of stock options exercisable
      within 60 days of March 31, 2010.</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: serif">(10)</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: serif">Includes 118,996
      shares of Common Stock issuable upon exercise of stock options exercisable
      within 60 days of March 31, 2010.</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">ANNUAL REPORT TO STOCKHOLDERS
</font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our Annual Report to Stockholders accompanies
this Proxy Statement. Our Annual Report on Form 10-K for the year ended December
31, 2009, as filed with the SEC, will be promptly delivered to any stockholder,
without charge, upon written or oral request. Requests may be made by mail to:
Mechanical Technology, Incorporated, ATTN: Investor Relations Department, 431
New Karner Road, Albany, New York 12205; by e-mail: contact@mechtech.com; or by
telephone: (518) 533-2200. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">STOCKHOLDER PROPOSALS </font></font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>We did not receive any stockholder
proposals for inclusion in this Proxy Statement. </font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In order to be included in proxy material for
the 2011 Annual Meeting of Stockholders, stockholders&#8217; proposed resolutions must
be received by us at our offices, 431 New Karner Road, Albany, New York 12205 on
or before January 3, 2011. We suggest that proponents submit their proposals by
certified mail, return receipt requested, addressed to our Secretary.
</font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">If the Company does not receive notice of a
proposal to be presented at the 2011 Annual Meeting of Stockholders on or before
March 19, 2011, the proxies designated by the Board will have discretionary
authority to vote on any such proposal. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">25</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br><a name="page_8"><!--EFPlaceholder-->
</a>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">OTHER MATTERS </font></font></div>
    <div>&#160;</div>
    <div align="justify">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We do not know of any matters which will be
brought before the meeting other than those specifically set forth in the notice
thereof. If any other matter properly comes before the meeting, however, it is
intended that the shares represented by proxies will be voted with respect
thereto in accordance with the best judgment of the persons voting them.
</font></div>
    <div>&#160;</div>
    <div align="right">
      <table border="0" cellpadding="0" cellspacing="0" width="50%" style="FONT-SIZE: 12pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" colspan="2" width="100%"><font size="2" style="FONT-FAMILY: serif">By Order of the Board of Directors,</font></td>
          </tr><tr>
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" width="99%">
            </td>
          </tr><tr>
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" width="99%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: serif">/s/ PENG K.
    LIM</font></td>
            <td align="left" width="99%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" colspan="2" width="100%"><font size="2" style="FONT-FAMILY: serif">Peng K. Lim</font></td>
          </tr><tr valign="bottom">
            <td align="left" colspan="2" width="100%"><font size="2" style="FONT-FAMILY: serif">Chief Executive Officer</font></td>
          </tr></table>
    </div><br>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">Albany, New
York<br>May 3, 2010</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">26</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Appendix A &#8211; Proxy Card</font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="3" style="FONT-FAMILY: serif">ANNUAL MEETING OF STOCKHOLDERS
OF</font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="6" style="FONT-FAMILY: serif">MECHANICAL TECHNOLOGY,
INCORPORATED</font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="3" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">June 17, 2010<br><br><br></font><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">NOTICE OF INTERNET
AVAILABILITY OF PROXY MATERIAL:</font><br></font>The Notice of Meeting, Proxy
Statement, Proxy Card<br>are available at
http://www.amstock.com/proxyservices/viewmaterial.asp?CoNumber=15895</font><br><br>&#160;<br><br></font></div>
    <div>&#160;</div>
    <div align="center"><font size="5" style="FONT-FAMILY: serif">Please sign, date and
mail<br>your proxy card in the<br>envelope provided as soon<br>as
possible.<br><br></font></div>
    <div>&#160;</div>
    <div align="center"><font size="1" style="FONT-FAMILY: serif"><font style="FONT-FAMILY: wingdings"><br></font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="1" style="FONT-FAMILY: serif"><font style="FONT-FAMILY: wingdings">&#234;&#160;</font>Please detach along perforated line
and mail in the envelope provided.<font style="FONT-FAMILY: wingdings">&#160;&#234;</font></font></div>
    <div>&#160;</div>
    <div style="PADDING-RIGHT: 4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 4pt; PADDING-BOTTOM: 4pt; PADDING-TOP: 4pt; BORDER-BOTTOM: black 1pt solid">
      <center>
        <div align="center"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">The
Board of Directors recommends a vote FOR the following proposals:<br>PLEASE
SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE
IN BLUE OR BLACK INK AS SHOWN HERE</font> <font size="2" style="FONT-WEIGHT: bold; FONT-FAMILY: wingdings">x</font></font></div>
      </center>
    </div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" width="97%" style="PADDING-RIGHT: 2pt; PADDING-LEFT: 2pt; FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; ">
<tr>
            <td colspan="3" rowspan="2" valign="top" width="41%">
            </td>
            <td rowspan="2" valign="top" width="8%">
            </td>
            <td colspan="2" valign="top" width="48%" style="BORDER-LEFT: #000000 1pt solid">
            </td>
            <td valign="bottom" width="1%"><font size="1" style="FONT-FAMILY: serif">FOR</font></td>
            <td valign="bottom" width="1%"><font size="1" style="FONT-FAMILY: serif">AGAINST</font></td>
            <td valign="bottom" width="1%"><font size="1" style="FONT-FAMILY: serif">ABSTAIN</font></td>
          </tr><tr>
            <td rowspan="3" valign="top" width="1%" style="PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid"><font size="2" style="FONT-FAMILY: serif">2. </font></td>
            <td align="left" rowspan="5" valign="top" width="47%">
              <div align="justify"><font size="2" style="FONT-FAMILY: serif">TO RATIFY THE
      APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS OUR INDEPENDENT AUDITOR FOR
      FISCAL YEAR 2010.</font></div>
            </td>
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            </td>
            <td valign="top" width="1%">
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Robb</font></td>
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            <td valign="top" width="1%">&#160;</td>
            <td valign="top" width="1%">&#160;</td>
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            <td nowrap valign="middle" width="1%"><font size="4" style="FONT-FAMILY: webdings">c</font></td>
            <td nowrap valign="middle" width="8%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1">WITHHOLD
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            <td nowrap valign="middle" width="32%">&#160;</td>
            <td nowrap valign="middle" width="8%">&#160;</td>
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              <div style="PADDING-LEFT: 2pt" align="justify"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">IF THIS PROXY IS PROPERLY
      EXECUTED AND RETURNED, THE SHARES REPRESENTED THEREBY WILL BE VOTED. IF A
      CHOICE IS SPECIFIED BY THE STOCKHOLDER, THE SHARES WILL BE VOTED
      ACCORDINGLY. IF NOT OTHERWISE SPECIFIED, THE SHARES REPRESENTED BY THIS
      PROXY WILL BE VOTED BY THE PERSONS NAMED AS PROXIES, IN ACCORDANCE WITH
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              <div>&#160;</div>
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            <td nowrap valign="top" width="1%"><font size="4" style="FONT-FAMILY: webdings">c</font></td>
            <td nowrap valign="top" width="8%"><font size="1"><font style="DISPLAY: inline; FONT-WEIGHT: bold">FOR ALL EXCEPT<br></font>(See
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            <td nowrap width="32%">
            </td>
            <td nowrap width="8%">
            </td>
          </tr><tr>
            <td colspan="2" nowrap valign="top" width="9%">&#160;</td>
            <td nowrap width="32%">
            </td>
            <td nowrap width="8%">
            </td>
          </tr><tr>
            <td nowrap valign="top" width="1%">
            </td>
            <td nowrap valign="top" width="8%">
            </td>
            <td nowrap width="32%">
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            <td nowrap width="8%">
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            <td valign="top" width="1%">&#160;</td>
          </tr><tr>
            <td colspan="3" width="41%"><br><br><br><br><br><br></td>
            <td width="8%">
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            <td colspan="5" width="51%" style="BORDER-LEFT: #000000 1pt solid">&#160;</td>
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            <td align="left" colspan="4" width="49%" style="BORDER-BOTTOM: #000000 1pt solid">
              <div style="PADDING-LEFT: 60pt; TEXT-INDENT: -60pt" align="justify"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-WEIGHT: bold">INSTRUCTIONS:</font></font> To
      withhold authority to vote for any individual nominee(s), mark <font style="DISPLAY: inline; FONT-WEIGHT: bold">&#8220;FOR ALL EXCEPT&#8221;</font> and
      fill in the circle next to each nominee you wish to withhold, as shown
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            </td>
            <td colspan="5" width="51%" style="BORDER-LEFT: #000000 1pt solid">
            </td>
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            <td align="left" colspan="3" width="41%" style="BORDER-BOTTOM: #000000 1pt solid"><br><br><br><br><br><br></td>
            <td align="left" width="8%" style="BORDER-BOTTOM: #000000 1pt solid">
            </td>
            <td colspan="5" valign="bottom" width="51%" style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center">&#160;

              <div style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">&#160;MARK &#8220;X&#8221; HERE IF YOU PLAN TO ATTEND THE MEETING.&#160;
      </font><font size="3" style="FONT-FAMILY: webdings">c</font></div>
            </td>
          </tr><tr>
            <td align="left" colspan="3" valign="middle" width="41%" style="BORDER-BOTTOM: #000000 1pt solid">
              <div align="justify">To change the address on your account, please check the
      box at right and indicate your new address in the address space above.
      Please note that changes to the registered name(s) on the account may not
      be submitted via this method.</div>
              <div>&#160;</div>
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            <td align="left" colspan="3" valign="middle" width="41%">
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            <td colspan="5" width="51%">
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    </div>
    <center>
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<tr>
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              <td nowrap width="1%">Date:</td>
              <td width="38%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">
              </td>
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              <td width="60%">
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              <td width="1%">
              </td>
              <td width="38%">
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        <table border="0" cellpadding="0" cellspacing="0" width="49%" style="PADDING-RIGHT: 2pt; PADDING-LEFT: 2pt; FONT-SIZE: 8pt; FLOAT: right; PADDING-BOTTOM: 2pt; PADDING-TOP: 2pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; ">
<tr>
              <td nowrap width="1%">Signature of Shareholder</td>
              <td width="60%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
              <td nowrap width="1%">Date:</td>
              <td width="38%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid">
              </td>
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              <td width="60%">
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              <td width="1%">
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<tr>
              <td nowrap valign="top" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Note:&#160;</font></td>
              <td align="left" valign="top" width="99%">
                <div align="justify">Please sign exactly as your name or names appear on
      this Proxy. When shares are held jointly, each holder should sign. When
      signing as executor, administrator, attorney, trustee or guardian, please
      give full title as such. If the signer is a corporation, please sign full
      corporate name by duly authorized officer, giving full title as such. If
      signer is a partnership, please sign in partnership name by authorized
      person.</div>
                <div>&#160;</div>
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      </div>
    </center>
    <div align="center">
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    <div>&#160;</div>
    <hr align="center" noshade size="2" width="97%">
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    </div>
    <div>&#160;</div>
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div align="center"><img src="proxycardx2x1.jpg" alt=""></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif">2010 ANNUAL MEETING OF STOCKHOLDERS
PROXY<br>&#160;</font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF
DIRECTORS</font></font></div>
    <div>&#160;</div>
    <div align="justify"><font style="FONT-FAMILY: serif">The undersigned hereby
revokes any proxy heretofore given to vote such shares, and hereby ratifies and
confirms all that said proxies may do by virtue hereof.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="FONT-FAMILY: serif">The undersigned hereby
appoints Mr. James K. Prueitt and Mr. Rick Jones, or either of them, as proxies
to vote all the stock of the undersigned with all the powers which the
undersigned would possess if personally present at the Annual Meeting of the
Stockholders of Mechanical Technology, Incorporated, to be held at our corporate
headquarters located at 431 New Karner Road, Albany, New York 12205 at 10:00
a.m., local time, on Thursday, June 17, 2010, or any adjournment thereof, as
follows:</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif">(Continued and to be signed on the reverse
side.)</font></font></div>
    <div>&#160;</div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
