EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (“Agreement”) is effective as of January 17, 2002, by and between URECOATS
INDUSTRIES INC., a Delaware corporation with offices at Newport Center Plaza, 1239 East Newport Center Drive, Suite 101,
Deerfield Beach, Florida 33442 (the “Company”), and James P. Newell an individual residing at 5851 Holmberg Road, #4025,
Parkland, Florida 33067-4529 (the “Executive”).
W I T N E S S E T H :
WHEREAS, the Company wishes to employ the Executive and the Executive wishes to accept such employment, subject to
the terms and conditions hereinafter set forth.
WHEREAS, the Company wishes to memorialize the employment of the Executive in a formal Agreement and the Executive
wishes to enter into such Agreement, subject to the terms and conditions hereinafter set forth.
NOW THEREFORE, the parties hereto, in consideration of the premises and mutual promises contained herein and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, agree as follows:
1. EMPLOYMENT TERM . The Company hereby agrees to employ the Executive, and the Executive hereby accepts such
employment for a period beginning on January 17, 2002 through December 31, 2005, unless sooner terminated in accordance
with Section 6 hereof (the “Employment Period”).
2. POSITION; DUTIES . During the Employment Period, the Executive shall hold the title and position of Vice President of
Sales of the Company and shall have the duties and responsibilities usually vested in such capacity, as determined from time to
time by the Board of Directors, and such other duties and responsibilities as may be assigned to him from time to time by the
Board of Directors, Chief Executive Officer and/or President of the Company.
3. MANNER OF PERFORMANCE . The Executive shall serve the Company and devote all his business time, his best
efforts and all his skill and ability in the performance of his duties hereu