<SEC-DOCUMENT>0001144204-12-035442.txt : 20120619
<SEC-HEADER>0001144204-12-035442.hdr.sgml : 20120619
<ACCEPTANCE-DATETIME>20120619165414
ACCESSION NUMBER:		0001144204-12-035442
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20120619
DATE AS OF CHANGE:		20120619
GROUP MEMBERS:		CRESCENDO INVESTMENTS II, LLC
GROUP MEMBERS:		CRESCENDO PARTNERS II, L.P. SERIES L

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CPI AEROSTRUCTURES INC
		CENTRAL INDEX KEY:			0000889348
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
		IRS NUMBER:				112520310
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-46461
		FILM NUMBER:		12915525

	BUSINESS ADDRESS:	
		STREET 1:		200A EXECUTIVE DR
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
		BUSINESS PHONE:		5165865200

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROSENFELD ERIC
		CENTRAL INDEX KEY:			0001219603

	FILING VALUES:
		FORM TYPE:		SC 13D/A
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>v316449_sc13da.htm
<DESCRIPTION>FORM SC 13D/A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE 13D</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Rule 13d-101)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TO RULE 13d-1(a) AND AMENDMENTS THERETO
FILED PURSUANT TO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">RULE 13d-2(a)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Amendment No. 1)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; font-weight: bold; text-align: center">CPI Aerostructures, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">(Name of Issuer)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; font-weight: bold; text-align: center">Common Stock</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">(Title of Class of Securities)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; font-weight: bold; text-align: center">125919 308</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">(CUSIP Number)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Eric Rosenfeld</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>c/o Crescendo Partners II, L.P. Series
        L</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>777 Third Avenue, 37<SUP>th</SUP> Floor</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10017</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Telephone: (212) 319-7676</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; font-weight: bold; text-align: center">June 13, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">(Date of Event which Requires Filing of this Statement)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the filing person
has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Note:</B> Schedules
filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. <I>See</I> Rule
13d-7 for other parties to whom copies are to be sent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">* The remainder of
this cover page shall be filled out for a reporting person<FONT STYLE="font-family: Times New Roman, Times, Serif">=</FONT>s initial
filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information that
would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The information required
on the remainder of this cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the <I>Notes</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-indent: 0"><B>CUSIP No. <FONT STYLE="color: black">125919 308</FONT></B></TD>
    <TD STYLE="width: 40%; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0">SCHEDULE 13D</TD>
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: right; text-indent: 0">Page 2 of 9 Pages</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 5%; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; width: 95%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NAMES OF REPORTING PERSONS</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Eric Rosenfeld</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">(a)&#9;</FONT><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: right; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">(b)&#9;<FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3</P></TD>
    <TD STYLE="border: Black 1pt solid; background-color: #E5E5E5; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SEC USE ONLY</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOURCE OF FUNDS (SEE INSTRUCTIONS)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PF, AF</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States</P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; width: 20%; text-align: center; vertical-align: middle"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;NUMBER
OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SHARES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BENEFICIALLY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>OWNED BY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EACH</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>REPORTING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PERSON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WITH</B></P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 5%; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;7</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 75%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE VOTING POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1,160,882</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;8</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED VOTING POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;9</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72.45pt; text-indent: -72.45pt">1,160,882</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;10</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; width: 5%; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; width: 95%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1,160,882</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">12</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">13</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
(11)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">14.1%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">14</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IN&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-indent: 0"><B>CUSIP No. <FONT STYLE="color: black">125919 308</FONT></B></TD>
    <TD STYLE="width: 40%; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0">SCHEDULE 13D</TD>
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: right; text-indent: 0">Page
    3  of 9 Pages</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; width: 5%; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; width: 95%; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NAMES OF REPORTING PERSONS</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Crescendo Partners II, L.P. Series L</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">CHECK THE APPROPRIATE BOX IF A
        MEMBER OF A GROUP (SEE INSTRUCTIONS)&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">(a) </FONT><FONT STYLE="font-family: Wingdings 2">&#163;&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">(b) <FONT STYLE="font-family: Wingdings 2">&#163;&nbsp;</FONT></FONT></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #E5E5E5">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; font-size: 10pt; border: Black 1pt solid">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOURCE OF FUNDS (SEE INSTRUCTIONS)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">WC</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; font-size: 10pt; border: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><BR>
<BR>
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) </FONT><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delaware</P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 20%; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NUMBER OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SHARES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BENEFICIALLY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>OWNED BY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EACH</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>REPORTING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PERSON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WITH</B></P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 5%; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 75%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE VOTING POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">883,334</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED VOTING POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">9</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72.45pt; text-indent: -72.45pt">883,334</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">10</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 5%; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 95%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">883,334</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">12</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; font-size: 10pt; border: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) </FONT><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">13</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11.0%&#9;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">14</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PN&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-indent: 0"><B>CUSIP No. <FONT STYLE="color: black">125919 308</FONT></B></TD>
    <TD STYLE="width: 40%; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0">SCHEDULE 13D</TD>
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: right; text-indent: 0">Page 4 of 9 Pages</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; width: 5%; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; width: 95%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NAMES OF REPORTING PERSONS</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Crescendo Investments II, LLC</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">CHECK THE APPROPRIATE BOX IF A
        MEMBER OF A GROUP (SEE INSTRUCTIONS)&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">(a) <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">(b)
<FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #E5E5E5">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; font-size: 10pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOURCE OF FUNDS (SEE INSTRUCTIONS)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AF</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: black">CHECK IF
DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delaware</P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; width: 20%; text-align: center; vertical-align: middle"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NUMBER
OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SHARES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BENEFICIALLY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>OWNED BY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EACH</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>REPORTING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PERSON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WITH</B></P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 5%; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; width: 75%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE VOTING POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">883,334</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED VOTING POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">9</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72.45pt; text-indent: -72.45pt">883,334</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">10</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt; border: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; width: 5%; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; width: 95%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">883,334</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; font-size: 10pt; text-align: center; vertical-align: middle">12</TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) <FONT STYLE="font-family: Wingdings 2">&#163;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">13</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11.0%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt; text-align: center; vertical-align: middle">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">14</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border: Black 1pt solid; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">OO&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-indent: 0"><B>CUSIP No. <FONT STYLE="color: black">125919 308</FONT></B></TD>
    <TD STYLE="width: 40%; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0">SCHEDULE 13D</TD>
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: right; text-indent: 0">Page 5 of 9 Pages</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Amendment No. 1 amends the original
Schedule 13D (&ldquo;<U>Schedule 13D</U>&rdquo;), filed by Crescendo Partners II, L.P. Series L (&ldquo;<U>Crescendo Partners II</U>&rdquo;),
Crescendo Investments II, LLC (&ldquo;<U>Crescendo Investments II</U>&rdquo;) and Eric Rosenfeld (&ldquo;<U>Rosenfeld</U>&rdquo;
and, together with Crescendo Partners II and Crescendo Investments II, collectively referred to as the &ldquo;<U>Reporting Persons</U>&rdquo;)
with respect to ownership of shares of the common stock, par value $0.001 (the &ldquo;<U>Common Stock</U>&rdquo;) of CPI Aerostructures,
Inc., a New York corporation (the &ldquo;<U>Issuer</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The percentage of beneficial ownership reflected
in this Schedule 13D is based <FONT STYLE="color: black">upon 8,057,719 shares of Common Stock, which includes 7,007,719 outstanding
as of the Issuer&rsquo;s Quarterly Report on Form 10-Q filed May 9, 2012 and 1,050,000 shares of Common Stock issued in connection
with the Issuer&rsquo;s public offering of securities reported in a Final Prospectus Supplement filed June 8, 2012 and consummated
on June 13, 2012 as reported on the Issuer&rsquo;s Current Report on Form 8-K</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1. Security and Issuer.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 1 of the Schedule 13D is hereby amended in its entirety
to read as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The class of equity securities to which
this Schedule 13D relates is the Common Stock of the Issuer. The Issuer&rsquo;s principal executive offices are located at 91 Heartland
Boulevard, Edgewood, New York 11717<FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2. Identity and Background.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 2 of the Schedule 13D is hereby amended in its entirety
to read as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Crescendo Partners II&rsquo;s business address
is 777 Third Avenue, 37th Floor, New York, New York 10017. Crescendo Partners II is a limited partnership organized and existing
under the laws of Delaware. The principal business of Crescendo Partners II is making investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Crescendo Investments II&rsquo;s business
address is 777 Third Avenue, 37th Floor, New York, New York 10017. Crescendo Investments II is a limited liability company organized
and existing under the laws of Delaware. The principal business of Crescendo Investments II is to act as the sole general partner
of Crescendo Partners II. Rosenfeld is the Senior Managing Member of Crescendo Investments II.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Rosenfeld&rsquo;s business address is c/o
Crescendo Partners II, L.P. Series L, 777 Third Avenue, 37th Floor, New York, New York 10017. Rosenfeld is a citizen of the United
States. Rosenfeld is the President and Chief Executive Officer of Crescendo Partners L.P. The principal business of Crescendo Partners
L.P. is making investments. Rosenfeld also serves as the Non-Executive Chairman of the Board of Directors of the Issuer, is a member
of the Issuer&rsquo;s Compensation and Nominating and Corporate Governance Committees and is Chairman of the Issuer&rsquo;s Strategic
Planning Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-indent: 0"><B>CUSIP No. <FONT STYLE="color: black">125919 308</FONT></B></TD>
    <TD STYLE="width: 40%; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0">SCHEDULE 13D</TD>
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: right; text-indent: 0">Page
    6  of 9 Pages</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">During the last five years, none of the
Reporting Persons has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">During the last five years, none of the
Reporting Persons has been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction resulting
in any judgment, decree or final order enjoining them from engaging in future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation with respect to such laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3. Sources and Amount of Funds or Other Consideration.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 3 of the Schedule 13D is hereby amended to add the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For Rosenfeld&rsquo;s services as a director
and the Non-Executive Chairman of the Board of Directors of the Issuer and as part of his annual director compensation, the Issuer
granted Rosenfeld options to purchase Common Stock from time to time (&ldquo;<U>Company Options</U>&rdquo;). The Company Options,
when granted, became immediately exercisable and expire five years from the date of grant. Of the Company Options that have not
expired or been exercised, Rosenfeld has options to purchase an aggregate of 156,548 shares of Common Stock, with an average exercise
price of $9.44 per share (low $5.50, high $15.27).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Of the Company Options, Rosenfeld has exercised
options to purchase an aggregate of 75,000 shares of the Issuer&rsquo;s Common Stock for a total purchase price of $613,350. Rosenfeld
used his personal funds to pay the aggregate purchase price for the shares acquired by exercise of options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 4. Purpose of Transaction.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4 of the Schedule 13D is hereby amended in its entirety
to read as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Reporting Persons made the acquisitions
reported on in this Schedule 13D in the ordinary course of their business activities. Each of the Reporting Persons may acquire
or dispose of additional securities or sell securities of the Issuer from time to time in the market or in private transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Other than pursuant to the rights described
above, and except that Rosenfeld may acquire additional shares by exercising the Company Options described above and that Rosenfeld
will be granted options to purchase additional shares of the Issuer&rsquo;s Common Stock under the Issuer&rsquo;s current non-employee
director compensation plan if he continues to serve as a director, none of the Reporting Persons has any agreements to acquire
any additional shares of Common Stock at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-indent: 0"><B>CUSIP No. <FONT STYLE="color: black">125919 308</FONT></B></TD>
    <TD STYLE="width: 40%; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0">SCHEDULE 13D</TD>
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: right; text-indent: 0">Page 7 of 9 Pages</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a director and Non-Executive Chairman
of the Issuer&rsquo;s Board of Directors, Rosenfeld is involved in making material business decisions regarding the Issuer&rsquo;s
policies and practices and may be involved in the consideration of various proposals considered by the Issuer&rsquo;s Board of
Directors. Except as discussed above, none of the Reporting Persons have any plans or proposals to acquire or dispose of securities
of the Issuer, effect an extraordinary corporate transaction, such as a merger, reorganization or liquidation involving the Issuer
or any of its subsidiaries, cause a sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries,
cause any material change in the present capitalization or dividend policy of the Issuer, cause a change in the present board of
directors or management of the Issuer, cause any other material change in the Issuer&rsquo;s business or corporate structure, cause
any changes in the Issuer&rsquo;s charter or bylaws or other actions that may impede the acquisition of control of the Issuer by
any person, cause a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized
to be quoted on an inter-dealer quotation system of a registered national securities association, cause a class of equity securities
of the Issuer to become eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of
1934, or take any other action similar to any of those enumerated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5. Interest in Securities of the Issuer.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5 of the Schedule 13D is hereby amended in its entirety
to read as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Crescendo Partners II is the beneficial
owner of 883,334 Common Stock of the Issuer. Crescendo Partners II has sole voting and dispositive power over these shares. Crescendo
Partners II beneficially owns 11.0% of the Issuer&rsquo;s Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Crescendo Investments II is the beneficial
owner of 883,334 shares of Common Stock of the Issuer. Crescendo Investments II, in its capacity of being the sole general partner
of Crescendo Partners II, controls Crescendo Partners II. Accordingly, Crescendo Investments II is the beneficial owner of the
shares held by Crescendo Partners II. Crescendo Investments II has sole voting and dispositive power over the shares held by Crescendo
Partners II. Crescendo Investments II beneficially owns 11.0% of the Issuer&rsquo;s Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Rosenfeld is the beneficial owner of 1,160,882
shares of Common Stock of the Issuer. This amount represents (i) 883,334 shares of Common Stock held by Crescendo Partners II,
(ii) 46,000 shares of Common Stock held jointly by Rosenfeld and his spouse, (iii) 75,000 shares of Common Stock held by Rosenfeld
and (iv) 156,548 shares of Common Stock issuable upon immediately exercisable options held by Rosenfeld. Rosenfeld, being the Senior
Managing Member of Crescendo Investments II, exercises control over Crescendo Partners II and Crescendo Investments II. As a result
of Rosenfeld&rsquo;s control of Crescendo Partners II and Crescendo Investments II, Rosenfeld has sole voting and dispositive power
over the shares held by Crescendo Partners II. Accordingly, Rosenfeld is deemed to be the beneficial owner of the shares held by
Crescendo Partners II. However, Rosenfeld disclaims ownership of the Common Stock held by Crescendo Partners II and Crescendo Investments
II, except to the extent of his pecuniary interest therein. Additionally, Rosenfeld has sole voting and dispositive power over
the shares held jointly with his spouse. Rosenfeld beneficially owns 14.1% of the Issuer&rsquo;s Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-indent: 0"><B>CUSIP No. <FONT STYLE="color: black">125919 308</FONT></B></TD>
    <TD STYLE="width: 40%; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0">SCHEDULE 13D</TD>
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: right; text-indent: 0">Page 8 of 9 Pages</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the last 60 days, the Reporting Persons
have not effected any transactions of the Issuer&rsquo;s Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6. Contracts, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 6 of the Schedule 13D is hereby amended in its entirety
to read as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With respect to 83,334 shares of Common
Stock of the Issuer acquired by Crescendo Partners II from Chemical Investments, Inc., Crescendo Partners II was assigned piggy-back
registration rights, pursuant to two Registration Rights Agreements dated February 26, 2002 and one dated October 9, 1997.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company Options described in Item 3
are subject to the terms of stock option agreements between Rosenfeld and the Issuer, a form of which is attached hereto as Exhibit
2 and the terms of which are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7. Material to be filed as Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 7 of the Schedule 13D is hereby amended in its entirety
to read as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">Stipulation to Jointly File (a)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">Form of Stock Option Agreement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">Registration Rights Agreement, dated February 26, 2002,
between Issuer and Chemical Investments, Inc. as assigned to Crescendo Partners II, relating 20,000 shares of common stock. (b)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">Registration Rights Agreement, dated February 26, 2002,
between Issuer and Chemical Investments, Inc. as assigned to Crescendo Partners II, relating 30,000 shares of common stock. (b)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">Registration Rights Agreement, dated October 9, 1997,
between Issuer and Chemical Investments, Inc. (formerly known as Chase Equity Securities), as assigned to Crescendo Partners II,
relating 33,334 shares of common stock. (b)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a) Previously filed as an exhibit to the Schedule 13D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b) Filed as an exhibit to the Issuer&rsquo;s Registration Statement
on Form SB-2 (No. 333-101902) declared effective on February 12, 2003 and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border: windowtext 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-indent: 0"><B>CUSIP No. <FONT STYLE="color: black">125919 308</FONT></B></TD>
    <TD STYLE="width: 40%; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0">SCHEDULE 13D</TD>
    <TD STYLE="width: 30%; border: Black 1pt solid; padding: 5.4pt; font-size: 10pt; font-weight: bold; text-align: right; text-indent: 0">Page 9 of 9 Pages</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After reasonable inquiry and to the best
of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: June 19, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; padding: 0; text-indent: 0">/s/ Eric Rosenfeld</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">Eric Rosenfeld&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 56%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 6%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 38%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">CRESCENDO INVESTMENTS II, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding: 0; text-indent: 0">/s/ Eric Rosenfeld</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Name:</TD>
    <TD STYLE="padding: 0; text-indent: 0">Eric Rosenfeld</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Title:</TD>
    <TD STYLE="padding: 0; text-indent: 0">Managing Member</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">CRESCENDO PARTNERS II, L.P. SERIES L</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; text-indent: 0">Crescendo Investments II, LLC, as General Partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding: 0; text-indent: 0">/s/ Eric Rosenfeld</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Name:</TD>
    <TD STYLE="padding: 0; text-indent: 0">Eric Rosenfeld</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Title:&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Managing Member</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 9; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2
<SEQUENCE>2
<FILENAME>v316449_ex-2.htm
<DESCRIPTION>EXHIBIT 2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 2</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">STOCK OPTION AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in; color: red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">AGREEMENT, made as of the __________ __,
20__ (&ldquo;Grant Date&rdquo;) by and between CPI Aerostructures, Inc., a New York corporation (&ldquo;Company&rdquo;) with principal
offices located at ______________, Edgewood, New York 11717, and Eric Rosenfeld (&ldquo;Optionee&rdquo;) with offices located at
_________________________________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Optionee is ____________________
of the Company, and the Company is desirous of increasing the incentive of the Optionee to exert his utmost efforts in improving
the business of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, on __________ __, 20__, pursuant
to the terms and conditions of the Company&rsquo;s ___________________(&ldquo;Plan&rdquo;), the Compensation Committee authorized
that __________________ be granted immediately exercisable options to purchase_______ shares of the authorized but unissued common
shares of the Company, $.001 par value (&ldquo;Common Shares&rdquo;) on ________________ as long as _____________is serving as
____________________, conditioned upon the Optionee&rsquo;s acceptance thereof upon the terms and conditions set forth in this
Agreement and subject to the terms of the Plan (capitalized terms used herein and not otherwise defined shall have the meanings
set forth in the Plan); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Optionee desires to acquire
the Option on the terms and conditions set forth in this Agreement and subject to the terms of the Plan<FONT STYLE="color: blue">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IT IS AGREED:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&#9;<U>Grant of Stock Option</U>.
The Company hereby grants to the Optionee the right and option (&ldquo;Option&rdquo;) to purchase all or any part of an aggregate
of _______ Common Shares (&ldquo;Option Shares&rdquo;) on the terms and conditions set forth herein and subject to the provisions
of the Plan.<FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: red; background-color: white"><STRIKE> </STRIKE></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&#9;<U>Non-Incentive Stock Option</U>.
The Option represented hereby is not intended to be an Option that qualifies as an &ldquo;Incentive Stock Option&rdquo; under Section
422 of the Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&#9;<U>Exercise Price</U>. The
exercise price (&ldquo;Exercise Price&rdquo;) of the Option shall be $_______ per share, subject to adjustment as hereinafter provided.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&#9;<U>Exercisability</U>. Subject
to the terms and conditions of the Plan and this Agreement, this Option is exercisable immediately to the extent of all of the
Option Shares, and shall remain exercisable until the close of business on __________ __, 20__ (&ldquo;Exercise Period&rdquo;).</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&#9;<U>Termination Due to Death</U>.
Upon the death of the Optionee, the Option may thereafter be exercised by the legal representative of the estate or by the legatee
of the Optionee under the will of the Optionee for a period of one year from the date of such death or until the expiration of
the Exercise Period, whichever period is shorter.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in; color: red">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.&#9;<U>Withholding Tax</U>. Not
later than the date as of which an amount first becomes includible in the gross income of the Optionee for Federal income tax purposes
with respect to the Option, the Optionee shall pay to the Company, or make arrangements satisfactory to the Committee regarding
the payment of, any Federal, state and local taxes of any kind required by law to be withheld or paid with respect to such amount
(&ldquo;Withholding Tax&rdquo;). The obligations of the Company under the Plan and pursuant to this Agreement shall be conditional
upon such payment or arrangements with the Company and the Company shall, to the extent permitted by law, have the right to deduct
any Withholding Taxes from any payment of any kind otherwise due to the Optionee from the Company.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">7.&#9;<U>Adjustments</U>. In the
event of any change in the Common Shares of the Company as a whole occurring as the result of a common stock split, or reverse
split, common stock dividend payable on Common Shares, combination or exchange of shares, or other extraordinary or unusual event
occurring after the grant of the Option, the Compensation Committee shall determine, in its sole discretion, whether such change
equitably requires an adjustment in the terms of this Option or the aggregate number of shares reserved for issuance under the
Plan. Any such adjustments will be made by the Compensation Committee, whose determination will be final, binding and conclusive.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.&#9;<U>Method of Exercise</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">8.1&#9;Notice to the Company. The Option
shall be exercised in whole or in part by written notice in substantially the form attached hereto as Exhibit A directed to the
Company at its principal place of business accompanied by full payment as hereinafter provided of the exercise price for the number
of Option Shares specified in the notice and of the Withholding Taxes, if any.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">8.2&#9;<U>Delivery of Option Shares</U>.
The Company shall deliver a certificate for the Option Shares to the Optionee as soon as practicable after payment therefor.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">8.3&#9;<U>Payment of Purchase Price</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">8.3.1&#9;<U>Cash Payment</U>. The
Optionee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order
of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the
receipt of good and available funds in payment of the purchase price thereof.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">8.3.2&#9;<U>Cashless Payment</U>.
Provided that prior approval of the Company has been obtained, the Optionee may use Common Shares of the Company owned by him or
her to pay the purchase price for the Option Shares by delivery of stock certificates in negotiable form which are effective to
transfer good and valid title thereto to the Company, free of any liens or encumbrances. Common Shares used for this purpose shall
be valued at the Fair Market Value.<FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: white">&#9;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">8.3.3&#9;<U>Payment of Withholding
Tax</U>. Any required Withholding Tax may be paid in cash or with Common Shares in accordance with Sections 8.3.1 and 8.3.2.<FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: white">&#9;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">8.3.4&#9;<U>Exchange Act Compliance</U>.
Notwithstanding the foregoing, the Company shall have the right to reject payment in the form of Common Shares if in the opinion
of counsel for the Company, (i) it could result in an event of &ldquo;recapture&rdquo; under Section 16(b) of the Securities Exchange
Act of 1934; (ii) such Common Shares may not be sold or transferred to the Company; or (iii) such transfer could create legal difficulties
for the Company.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.&#9;<U>Nonassignability</U>. The
Option shall not be assignable or transferable, except by will or by the laws of descent and distribution in the event of the death
of the Employee. No transfer of the Option by the Employee by will or by the laws of descent and distribution shall be effective
to bind the Company unless the Company shall have been furnished with written notice thereof and a copy of the will and such other
evidence as the Company may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees
of the terms and conditions of the Option.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.&#9;<U>Company Representations</U>.
The Company hereby represents and warrants to the Optionee that:<FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: red; background-color: white"><STRIKE>
</STRIKE></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; color: red"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&#9;the Company, by appropriate
and all required action, is duly authorized to enter into this Agreement and consummate all of the transactions contemplated hereunder;
and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)&#9;the Option Shares, when issued
and delivered by the Company to the Optionee in accordance with the terms and conditions hereof, will be duly and validly issued
and fully paid and non-assessable.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; color: red"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.&#9;<U>Optionee Representations</U>.
The Optionee hereby represents and warrants to the Company that:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&#9;he is acquiring the Option and
shall acquire the Option Shares for his own account and not with a view towards the distribution thereof;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)&#9;he has received a copy of the
Plan as in effect as of the date of this Agreement;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii)&#9;he has received a copy of
all reports and documents required to be filed by the Company with the Securities and Exchange Commission pursuant to the Exchange
Act, within the last 24 months and all reports issued by the Company to its stockholders;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iv)&#9;he understands that he must
bear the economic risk of the investment in the Option Shares, which cannot be sold by him unless they are registered under the
Securities Act of 1933 (&ldquo;1933 Act&rdquo;) or an exemption therefrom is available thereunder and that the Company is under
no obligation to register the Option Shares for sale under the 1933 Act;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(v)&#9;in his position with the Company,
he has had both the opportunity to ask questions and receive answers from the officers and directors of the Company and all persons
acting on its behalf concerning the terms and conditions of the offer made hereunder and to obtain any additional information to
the extent the Company possesses or may possess such information or can acquire it without unreasonable effort or expense necessary
to verify the accuracy of the information obtained pursuant to clause (iii) above;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vi)&#9;he is aware that the Company
shall place stop transfer orders with its transfer agent against the transfer of the Option Shares in the absence of registration
under the 1933 Act or an exemption therefrom as provided herein; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vii)&#9;if, at the time of issuance
of the Option Shares, the issuance of such shares have not been registered under the 1933 Act, the certificates evidencing the
Option Shares shall bear the following legends:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-indent: 0in">&ldquo;The shares represented by
this certificate have been acquired for investment and have not been registered under the Securities Act of 1933. The shares may
not be sold or transferred in the absence of such registration or an exemption therefrom under said Act.&rdquo;<FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: red; background-color: white"><STRIKE>
</STRIKE></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-indent: 0in">&ldquo;The shares represented by
this certificate have been acquired pursuant to a Stock Option Agreement dated as of __________ __, 20__, a copy of which is on
file with the Company, and may not be transferred, pledged or disposed of except in accordance with the terms and conditions thereof.&rdquo;<FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: red; background-color: white"><STRIKE>
</STRIKE></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.&#9;<U>Restriction on Transfer
of Option Shares</U>.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">12.1&#9;Anything in this Agreement
to the contrary notwithstanding, the Optionee hereby agrees that he or she shall not sell, transfer by any means or otherwise dispose
of the Option Shares acquired by him or her without registration under the 1933 Act, or in the event that they are not so registered,
unless (i) an exemption from the 1933 Act registration requirements is available thereunder, and (ii) the Optionee has furnished
the Company with notice of such proposed transfer and the Company&rsquo;s legal counsel, in its reasonable opinion, shall deem
such proposed transfer to be so exempt.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">12.2&#9;Anything in this Agreement
to the contrary notwithstanding, Optionee hereby agrees that he shall not sell, transfer by any means or otherwise dispose of the
Option Shares acquired by him (i) prior to six months after the Grant Date and (ii) except in accordance with Company&rsquo;s policy
regarding the sale and disposition of securities owned by Company insiders.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">13.&#9;<U>Miscellaneous</U>.<FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><STRIKE>
</STRIKE></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">13.1&#9;<U>Notices</U>. All notices,
requests, deliveries, payments, demands and other communications which are required or permitted to be given under this Agreement
shall be in writing and shall be either delivered personally or sent by registered or certified mail, or by private courier to
the parties at their respective addresses set forth herein, or to such other address as either party shall have specified by notice
in writing to the other. Notice shall be deemed duly given hereunder when delivered or mailed as provided herein.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">13.2&#9;<U>Conflicts with the Plan</U>.
In the event of a conflict between the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan
shall in all respects be controlling.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">13.3&#9;<U>Optionee and Stockholder
Rights</U>. The Optionee shall not have any of the rights of a stockholder with respect to the Option Shares until such shares
have been issued after the due exercise of the Option. Nothing contained in this Agreement shall be deemed to confer upon Optionee
any right to continue to be a director of the Company.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">13.4&#9;<U>Waiver</U>. The waiver by
any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other or subsequent
breach.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">13.5&#9;<U>Entire Agreement</U>. This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof. This Agreement may not
be amended except by writing executed by the Optionee and the Company.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">13.6&#9;<U>Binding Effect; Successors</U>.
This Agreement shall inure to the benefit of and be binding upon the parties hereto and, to the extent not prohibited herein, their
respective heirs, successors, assigns and representatives. Nothing in this Agreement, expressed or implied, is intended to confer
on any person other than the parties hereto and as provided above, their respective heirs, successors, assigns and representatives,
any rights, remedies, obligations or liabilities.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">13.7&#9;<U>Governing Law</U>. This
Agreement shall be governed by and construed in accordance with the laws of the State of New York (without regard to choice of
law provisions).</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">13.8&#9;<U>Headings</U>. The headings
contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning or
interpretation of any of the terms or provisions of this Agreement.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">13.9&#9;<U>Section 409A</U>.
The Option granted hereunder is intended to be exempt from the provisions of Section 409A of the Internal Revenue Code of 1986,
as amended (&ldquo;Section 409A &rdquo;). To the extent that the Options or any payments or benefits provided hereunder are considered
deferred compensation subject to Section 409A, the Company intends for this Agreement and the Option to comply with the standards
for nonqualified deferred compensation established by Section 409A (the &ldquo;409A Standards&rdquo;). Notwithstanding anything
herein to the contrary, to the extent that any terms of this Agreement or the Option would subject the Optionee to gross income
inclusion, interest or an additional tax pursuant to Section 409A, those terms are to that extent superseded by the 409A Standards.
The Company reserves the right to amend the Option granted hereunder to cause such Option to comply with or be exempt from Section
409A.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties hereto
have signed this Agreement as of the day and year first above:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CPI AEROSTRUCTURES, INC. &#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:&#9;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: &#9;Edward J. Fred</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title:&#9;Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Optionee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ERIC ROSENFELD</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM OF NOTICE OF EXERCISE OF OPTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: blue">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">DATE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CPI AEROSTRUCTURES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Edgewood, New York 11717</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">Re:</TD><TD STYLE="text-align: justify"><U>Purchase of Option Shares</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; color: red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In accordance with my Stock Option Agreement
dated as of __________ __, 20__ with CPI Aerostructures, Inc. (&ldquo;Company&rdquo;), I hereby irrevocably elect to exercise the
right to purchase _________ common shares, par value $.001 per share of the Company, which are being purchased for investment and
not for resale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As payment for my shares, enclosed is (check
and complete applicable box[es]):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9633;</TD><TD>a [personal check] [certified check] [bank check] payable to the order of &ldquo;CPI Aerostructures, Inc.&rdquo; in the sum
of $_________;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9633;</TD><TD>confirmation of wire transfer in the amount of $_____________; and/or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9633;</TD><TD>with the consent of the Company, a certificate for _____________ Common Shares of the Company, free and clear of any encumbrances,
duly endorsed, having a Fair Market Value (as such term is defined in the ________________<FONT STYLE="color: blue"><U> </U></FONT>Plan)
of $___________.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">I hereby represent and warrant to, and agree
with, the Company that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&#9;I am acquiring the Option Shares
for my own account, for investment, and not with a view towards the distribution thereof;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)&#9;I have received a copy of the
Plan and all reports and documents required to be filed by the Company with the Commission pursuant to the Exchange Act within
the last 24 months and all reports issued by the Company to its stockholders;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii)&#9;I understand that I must bear
the economic risk of the investment in the Option Shares, which cannot be sold by me unless they are registered under the Securities
Act of 1933 (&ldquo;1933 Act&rdquo;) or an exemption therefrom is available thereunder and that the Company is under no obligation
to register the Option Shares for sale under the 1933 Act;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; color: red">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iv)&#9;I agree that I will not sell,
transfer by any means or otherwise dispose of the Option Shares acquired by me hereby except in accordance with Company&rsquo;s
policy regarding the sale and disposition of securities owned by Company insiders; <FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: red; background-color: white"><STRIKE>
</STRIKE></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(v)&#9;in my position with the Company,
I have had both the opportunity to ask questions and receive answers from the officers and directors of the Company and all persons
acting on its behalf concerning the terms and conditions of the offer made hereunder and to obtain any additional information to
the extent the Company possesses or may possess such information or can acquire it without unreasonable effort or expense necessary
to verify the accuracy of the information obtained pursuant to clause (ii) above;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vi)&#9;my rights with respect to the
Option Shares shall, in all respects, be subject to the terms and conditions of the Company&rsquo;s ________________ Plan and the
Agreement;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vii)&#9;I am aware that the Company
shall place stop transfer orders with its transfer agent against the transfer of the Option Shares in the absence of registration
under the 1933 Act or an exemption therefrom as provided herein; and</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(viii)&#9;if, at the time of issuance
of the Option Shares, the issuance of such shares have not been registered under the 1933 Act, the certificates evidencing the
Option Shares shall bear the following legends:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.5in; text-indent: 0in">&ldquo;The shares represented
by this certificate have been acquired for investment and have not been registered under the Securities Act of 1933. The shares
may not be sold or transferred in the absence of such registration or an exemption therefrom under said Act.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.5in; text-indent: 0in">&ldquo;The shares represented
by this certificate have been acquired pursuant to a Stock Option Agreement dated as of __________ __, 20__, a copy of which is
on file with the Company, and may not be transferred, pledged or disposed of except in accordance with the terms and conditions
thereof.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.5in; text-indent: 0in">Kindly forward to me my certificate
at your earliest convenience.<FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: red; background-color: white"><STRIKE>
</STRIKE></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9;&#9;&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 38%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">(Signature)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">(Address)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-decoration: none"></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">(Print Name)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">(Social Security Number)</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: 0.5in">&nbsp;</P>



<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
