EXECUTION COPY

                       INSIDER PLEDGE AND ESCROW AGREEMENT

      THIS INSIDER PLEDGE AND ESCROW AGREEMENT (the "Agreement") is made and
entered into as of August 1, 2006 (the "Effective Date") by and among LEONARD
STERNHEIM (the "Pledgor"), CORNELL CAPITAL PARTNERS, LP (the "Pledgee"), DELEK
RESOURCES, INC., a Florida corporation (the "Company"), and DAVID GONZALEZ,
ESQ., as escrow agent ("Escrow Agent").

                                    RECITALS:

      WHEREAS, the Company shall issue and sell to the Pledgee, as provided in
the Securities Purchase Agreement of even date herewith between the Company and
the Pledgee (the "Securities Purchase Agreement"), and the Pledgee shall
purchase up to Two Million Dollars ($2,000,000) of secured convertible
debentures (the "Convertible Debentures"), which shall be convertible into
shares of the Company's common stock, no par value per share (the "Common
Stock") (as converted, the "Conversion Shares");

      WHEREAS, to induce the Pledgee to enter into the transaction contemplated
by the Securities Purchase Agreement, the Convertible Debentures, the Investor
Registration Rights Agreement of even date herewith between the Company and the
Pledgee (the "Investor Registration Rights Agreement"), and the Irrevocable
Transfer Agent Instructions among the Company, the Pledgee, the Transfer Agent,
and the Escrow Agent (the "Transfer Agent Instructions") (collectively referred
to as the "Transaction Documents"), the Pledgor has agreed to irrevocably pledge
to the Pledgee Fourteen Million (14,000,000) shares (the "Pledged Shares") of
Common Stock beneficially owned by the Pledgor in accordance with this
Agreement.

      NOW, THEREFORE, in consideration of the mutual covenants, agreements,
warranties, and representations herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:

                              TERMS AND CONDITIONS

      1. Obligations Secured. The obligations secured hereby are any and all
obligations of the Company now existing or hereinafter incurred to the Pledgee,
whether oral or written and whether arising before, on or after the date hereof
including, without limitation, those obligations of the Company to the Pledgee
under the Transaction Documents and any other amounts now or hereafter owed to
the Pledgee by the Company thereunder (collectively, the "Obligations").

      2. Pledge and Transfer of Pledged Shares. The Pledgor hereby grants to
Pledgee an irrevocable, first priority security interest in all Pledged Shares
as security for the Company's Obligations. Simultaneously with the execution of
the Transaction Documents, the Pledgor shall deliver to the Escrow Agent stock
certificates made out in favor of the Pledgor representing the Pledged Shares,
together with duly executed stock powers or other appropriate transfer documents
with medallion bank guarantees and executed in blank by the Pledgor (the
"Transfer Documents"), and such stock certificates and Transfer Documents shall
be held by the Escrow Agent until the full payment of all Obligations due to the
Pledgee, including the repayment of all amounts owed by the Company to the
Pledgee under the Convertible Debentures (whether outstanding principal,
interest, legal fees, or any other amounts owed to the Pledgee by the Company).

<PAGE>

      3. Rights Relating to Pledged Shares. Upon the occurrence of an Event of
Default (as defined herein), the Pledgee shall be entitled to vote the Pledged
Shares, receive dividends and other distributions thereon, and enjoy all other
rights and privileges incident to the ownership of the number of Pledged Shares
actually released from escrow in accordance with Section 6.1 hereof.

      4. Release of Pledged Shares from Pledge. Upon the full payment of all
Obligations due to the Pledgee under the Transaction Documents, including the
repayment of all amounts owed by the Company to the Pledgee under the
Convertible Debentures (whether outstanding principal, interest, legal fees, and
any other amounts owed to the Pledgee by the Company), the parties hereto shall
notify the Escrow Agent to such effect in writing. Promptly upon receipt of such
written notice, the Escrow Agent shall return to the Pledgor the Transfer
Documents and the certificates representing the Pledged Shares (collectively the
"Pledged Materials"), whereupon any and all rights of Pledgee in the Pledged
Materials shall be terminated.

      5. Event of Default. An "Event of Default" shall be deemed to have
occurred under this Agreement upon an Event of Default under the Convertible
Debentures.

      6. Remedies.

            (a) Upon and anytime after the occurrence of an Event of Default,
the Pledgee shall have the right acquire the Pledged Shares in accordance with
the following procedure: (a) the Pledgee shall provide written notice of such
Event of Default (the "Default Notice") to the Escrow Agent, with a copy to the
Pledgor; (b) in a Default Notice the Pledgee shall specify the number of Pledged
Shares to be issued to the Plegdee, provided however, that the Pledgee shall not
have the right to acquire such number of Pledged Shares which would cause the
Pledgee, together with its affiliates, to beneficially own in excess of 4.99% of
the outstanding capital of the Pledgor (unless the Pledgee waives such
limitation by providing 65 days' advance written notice); and (c) as soon as
practicable after receipt of a Default Notice, the Escrow Agent shall deliver
the specified number of Pledged Shares along with the applicable Transfer
Documents to the Pledgor's Transfer Agent with instructions to issue such
Pledged Shares to the Pledgee in accordance with the Irrevocable Transfer Agent
Instructions of even date herewith, among the Pledgee, the Pledgor, the Escrow
Agent, and the Transfer Agent.

            (b) Upon receipt of the Pledged Shares issued to the Pledgee, the
Pledgee shall have the right to (i) sell the Pledged Shares and to apply the
proceeds of such sales, net of any selling commissions, to the Obligations owed
to the Pledgee by the Pledgor under the Transaction Documents, including,
without limitation, outstanding principal, interest, legal fees, and any other
amounts owed to the Pledgee, and exercise all other rights and (ii) any and all
remedies of a secured party with respect to such property as may be available
under the Uniform Commercial Code as in effect in the State of New Jersey. To
the extent that the net proceeds received by the Pledgee are insufficient to
satisfy the Obligations in full, the Pledgee shall be entitled to a deficiency
judgment against the Pledgor for such amount. The Pledgee shall have the
absolute right to sell or dispose of the Pledged Shares in any manner it sees
fit and shall have no liability to the Pledgor or any other party for selling or
disposing of such Pledged Shares even if other methods of sales or dispositions
would or allegedly would result in greater proceeds than the method actually
used. The Pledgor shall remain liable for shortfalls, if any, that may exist
after the Pledgee has exhausted all remedies hereunder. The Pledgee shall return
any Pledged Shares issued to it and instruct the Escrow Agent to return any
Pledged Shares it is holding in escrow after the all amounts owed to the Pledgee
under the Convertible Debentures have been satisfied.


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<PAGE>

            (c) Each right, power and remedy of the Pledgee provided for in this
Agreement or any other Transaction Document shall be cumulative and concurrent
and shall be in addition to every other such right, power or remedy. The
exercise or beginning of the exercise by the Pledgee of any one or more of the
rights, powers or remedies provided for in this Agreement or any other
Transaction Document or now or hereafter existing at law or in equity or by
statute or otherwise shall not preclude the simultaneous or later exercise by
the Pledgee of all such other rights, powers or remedies, and no failure or
delay on the part of the Pledgee to exercise any such right, power or remedy
shall operate as a waiver thereof. No notice to or demand on the Pledgor in any
case shall entitle it to any other or further notice or demand in similar or
other circumstances or constitute a waiver of any of the rights of the Pledgee
to any other further action in any circumstances without demand or notice. The
Pledgee shall have the full power to enforce or to assign or contract is rights
under this Agreement to a third party.

      7. Representations, Warranties and Covenants.

            (a) The Pledgor represents, warrants and covenants that:

                  (i) Pledgor is, and at the time when pledged hereunder will
be, the legal, beneficial and record owner of, and has (and will have) good and
valid title to, all Pledged Shares pledged hereunder, subject to no pledge,
lien, mortgage, hypothecation, security interest, charge, option or other
encumbrance whatsoever;

                  (ii) Pledgor has full power, authority and legal right to
pledge all the Pledged Shares pledged pursuant to this Agreement; and

                  (iii) all the Pledged Shares have been duly and validly
issued, are fully paid and non-assessable and are subject to no options to
purchase or similar rights.

            (b) The Pledgor covenants and agrees to take all reasonable steps to
defend the Pledgee's right, title and security interest in and to the Pledged
Shares and the proceeds thereof against the claims and demands of all persons
whomsoever (other than the Pledgee and the Escrow Agent); and the Pledgor
covenants and agrees that it will have like title to and right to pledge any
other property at any time hereafter pledged to the Pledgee as Collateral
hereunder and will likewise take all reasonable steps to defend the right
thereto and security interest therein of the Pledgee.


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<PAGE>

            (c) The Pledgor covenants and agrees to take no action which would
violate or be inconsistent with any of the terms of any Transaction Document, or
which would have the effect of impairing the position or interests of the
Pledgee under any Transaction Document.

            (d) The Pledgor represents, warrants and covenants that (i) the
Pledgor has been the beneficial owner of the Pledged Shares for a period of not
less than two (2) years as computed in accordance with Rule 144(d) promulgated
under the Securities Act of 1933, as amended, and (ii) this Agreement is made
with recourse. Upon an Event of Default, the Pledgee shall be deemed to have
acquired the Pledged Shares on the date they were acquired by the Pledgor. The
Pledgor is an "affiliate" of the Company, as such term is defined in Rule 144(a)
promulgated under the Securities Act of 1933, as amended.

      8. Concerning the Escrow Agent.

            (a) The Escrow Agent undertakes to perform only such duties as are
expressly set forth herein and no implied duties or obligations shall be read
into this Agreement against the Escrow Agent.

            (b) The Escrow Agent may act in reliance upon any writing or
instrument or signature which it, in good faith, believes to be genuine, may
assume the validity and accuracy of any statement or assertion contained in such
a writing or instrument, and may assume that any person purporting to give any
writing, notice, advice or instructions in connection with the provisions hereof
has been duly authorized to do so. The Escrow Agent shall not be liable in any
manner for the sufficiency or correctness as to form, manner, and execution, or
validity of any instrument deposited in this escrow, nor as to the identity,
authority, or right of any person executing the same; and its duties hereunder
shall be limited to the safekeeping of such certificates, monies, instruments,
or other document received by it as such escrow holder, and for the disposition
of the same in accordance with the written instruments accepted by it in the
escrow.

            (c) Pledgee and the Pledgor hereby agree, to defend and indemnify
the Escrow Agent and hold it harmless from any and all claims, liabilities,
losses, actions, suits, or proceedings at law or in equity, or any other
expenses, fees, or charges of any character or nature which it may incur or with
which it may be threatened by reason of its acting as Escrow Agent under this
Agreement; and in connection therewith, to indemnify the Escrow Agent against
any and all expenses, including attorneys' fees and costs of defending any
action, suit, or proceeding or resisting any claim (and any costs incurred by
the Escrow Agent pursuant to Sections 6.4 or 6.5 hereof). The Escrow Agent shall
be vested with a lien on all property deposited hereunder, for indemnification
of attorneys' fees and court costs regarding any suit, proceeding or otherwise,
or any other expenses, fees, or charges of any character or nature, which may be
incurred by the Escrow Agent by reason of disputes arising between the makers of
this escrow as to the correct interpretation of this Agreement and instructions
given to the Escrow Agent hereunder, or otherwise, with the right of the Escrow
Agent, regardless of the instructions aforesaid, to hold said property until and
unless said additional expenses, fees, and charges shall be fully paid. Any fees
and costs charged by the Escrow Agent for serving hereunder shall be paid by the
Pledgor.


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<PAGE>

            (d) If any of the parties shall be in disagreement about the
interpretation of this Agreement, or about the rights and obligations, or the
propriety of any action contemplated by the Escrow Agent hereunder, the Escrow
Agent may, at its sole discretion deposit the Pledged Materials with the Clerk
of the United States District Court of New Jersey, sitting in Newark, New
Jersey, and, upon notifying all parties concerned of such action, all liability
on the part of the Escrow Agent shall fully cease and terminate. The Escrow
Agent shall be indemnified by the Pledgor, the Company and Pledgee for all
costs, including reasonable attorneys' fees in connection with the aforesaid
proceeding, and shall be fully protected in suspending all or a part of its
activities under this Agreement until a final decision or other settlement in
the proceeding is received.

            (e) The Escrow Agent may consult with counsel of its own choice (and
the costs of such counsel shall be paid by the Pledgor and Pledgee) and shall
have full and complete authorization and protection for any action taken or
suffered by it hereunder in good faith and in accordance with the opinion of
such counsel. The Escrow Agent shall not be liable for any mistakes of fact or
error of judgment, or for any actions or omissions of any kind, unless caused by
its willful misconduct or gross negligence.

            (f) The Escrow Agent may resign upon ten (10) days' written notice
to the parties in this Agreement. If a successor Escrow Agent is not appointed
within this ten (10) day period, the Escrow Agent may petition a court of
competent jurisdiction to name a successor.

      9. Conflict Waiver. The Pledgor hereby acknowledges that the Escrow Agent
is general counsel to the Pledgee, a partner in the general partner of the
Pledgee, and counsel to the Pledgee in connection with the transactions
contemplated and referred herein. The Pledgor agrees that in the event of any
dispute arising in connection with this Agreement or otherwise in connection
with any transaction or agreement contemplated and referred herein, the Escrow
Agent shall be permitted to continue to represent the Pledgee and the Pledgor
will not seek to disqualify such counsel and waives any objection Pledgor might
have with respect to the Escrow Agent acting as the Escrow Agent pursuant to
this Agreement.

      10. Notices. Unless otherwise provided herein, all demands, notices,
consents, service of process, requests and other communications hereunder shall
be in writing and shall be delivered in person or by overnight courier service,
or mailed by certified mail, return receipt requested, addressed:


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<PAGE>

If to the Company, to:   Delek Resources, Inc.
                         1224 Washington Avenue
                         Miami Beach, FL 33319
                         Attention: Leonard Sternheim
                         Telephone: (305) 531-1174
                         Facsimile: (305) 531-1274

With a copy to:          Kirkpatrick & Lockhart Nicholson Graham, LLP
                         201 South Biscayne Boulevard, Suite 2000
                         Miami, Florida 33131
                         Attention: Clayton E. Parker, Esq.
                         Telephone: (305) 539-3306
                         Facsimile: (305) 328-7095

If to the Pledgee:       Cornell Capital Partners LP
                         101 Hudson Street, Suite 3700
                         Jersey City, NJ 07302
                         Attention: Mark A. Angelo
                         Telephone: (201) 985-8300
                         Facsimile: (201) 985-8744

With copy to:            Cornell Capital Partners, LP
                         101 Hudson Street, Suite 3700
                         Jersey City, NJ 07302
                         Attention: Troy Rillo David Gonzalez, Esq.
                         Telephone: (201) 985-8300
                         Facsimile: (201) 985-1964

If to the Pledgor, to:   Leonard Sternheim
                         c/o Delek Resources, Inc.
                         1224 Washington Avenue
                         Miami Beach, FL 33319
                         Attention: Leonard Sternheim
                         Telephone: (305) 531-1174
                         Facsimile: (305) 531-1274

Any such notice shall be effective (a) when delivered, if delivered by hand
delivery or overnight courier service, or (b) five (5) days after deposit in the
United States mail, as applicable.

      11. Binding Effect. All of the covenants and obligations contained herein
shall be binding upon and shall inure to the benefit of the respective parties,
their successors and assigns.

      12. Governing Law; Venue; Service of Process. The validity, interpretation
and performance of this Agreement shall be determined in accordance with the
laws of the State of New Jersey applicable to contracts made and to be performed
wholly within that state except to the extent that Federal law applies. The
parties hereto agree that any disputes, claims, disagreements, lawsuits, actions
or controversies of any type or nature whatsoever that, directly or indirectly,
arise from or relate to this Agreement, including, without limitation, claims
relating to the inducement, construction, performance or termination of this
Agreement, shall be brought in the state superior courts located in Hudson
County, New Jersey or Federal district courts located in Newark, New Jersey, and
the parties hereto agree not to challenge the selection of that venue in any
such proceeding for any reason, including, without limitation, on the grounds
that such venue is an inconvenient forum. The parties hereto specifically agree
that service of process may be made, and such service of process shall be
effective if made, pursuant to Section 8 hereto.


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<PAGE>

      13. Enforcement Costs. If any legal action or other proceeding is brought
for the enforcement of this Agreement, or because of an alleged dispute, breach,
default or misrepresentation in connection with any provisions of this
Agreement, the successful or prevailing party or parties shall be entitled to
recover reasonable attorneys' fees, court costs and all expenses even if not
taxable as court costs (including, without limitation, all such fees, costs and
expenses incident to appeals), incurred in that action or proceeding, in
addition to any other relief to which such party or parties may be entitled.

      14. Remedies Cumulative. No remedy herein conferred upon any party is
intended to be exclusive of any other remedy, and each and every such remedy
shall be cumulative and shall be in addition to every other remedy given
hereunder or now or hereafter existing at law, in equity, by statute, or
otherwise. No single or partial exercise by any party of any right, power or
remedy hereunder shall preclude any other or further exercise thereof.

      15. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute the same instrument.

      16. No Penalties. No provision of this Agreement is to be interpreted as a
penalty upon any party to this Agreement.

      17. JURY TRIAL. EACH OF THE PLEDGEE AND THE PLEDGOR HEREBY KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVES THE RIGHT WHICH IT MAY HAVE TO A TRIAL BY
JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION BASED HEREON, OR ARISING
OUT OF, UNDER OR IN ANY WAY CONNECTED WITH THE DEALINGS BETWEEN PLEDGEE AND
PLEDGOR, THIS PLEDGE AND ESCROW AGREEMENT OR ANY DOCUMENT EXECUTED IN CONNECTION
HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL
OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO OR THERETO IN EACH CASE WHETHER NOW
EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY OR
OTHERWISE.

                   [REMAINDER OF PAGE INTENTIALLY LEFT BLANK]


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<PAGE>

      IN WITNESS WHEREOF, the parties hereto have duly executed this Insider
Pledge and Escrow Agreement as of the date first above written.

                                        DELEK RESOURCES, INC.


                                        By:
                                            ------------------------------------
                                        Name: Leonard Sternheim
                                        Title: Chief Executive Officer


                                        INSIDER


                                        By:
                                            ------------------------------------
                                        Name: Leonard Sternheim


                                        CORNELL CAPITAL PARTNERS, LP


                                        By: Yorkville Advisors, LLC
                                        Its: General Partner


                                        By:
                                            ------------------------------------
                                        Name: Mark Angelo
                                        Title: Portfolio Manager


                                        ESCROW AGENT


                                        By:
                                            ------------------------------------
                                        Name: David Gonzalez, Esq.

      FOR VALUE RECEIVED, the Pledgor hereby unconditionally and absolutely
guarantees the Company's Obligations (as defined above). This Agreement is made
with recourse.


By:
    ------------------------------------
Name: Leonard Sternheim


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