THIS AGREEMENT (this "Agreement") made and effective as of March 19, 2001, is between URECOATS
INDUSTRIES INC., a Delaware corporation with offices at 4100 North Powerline Road, Suite F-1, Pompano
Beach, Florida 33073 (the "Company"), and TIMOTHY M. KARDOK, an individual with an address at 6057
N.W. 77th Drive, Parkland, Florida 33067 (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.
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 of two (2) years starting on March 19, 2001 and ending on February 28,2003 (the "Initial Term"), unless
sooner terminated in accordance with Section 7 hereof. The Initial Term together with the period of any extension
or renewal of such employment is referred to herein as the "Employment Period".
2. POSITION; DUTIES.
From March 19, 2001 to the end of the Initial Term, unless sooner terminated in accordance with Section 7
hereof, the Executive shall hold the title of President and Chief Operating Officer of Urecoats Industries Inc. The
Executive shall have the duties and responsibilities of management usually vested in a president and chief
operating officer and such other duties and responsibilities as may be assigned to him from time to time by the
Company's Board of Directors.
During the Employment Period, the Executive shall also be appointed and serve as a director of the Company.
Such appointment shall terminate automatically upon the termination the Executive's employment hereunder
without need for a formal resignation.
3. MANNER OF PERFORMANC