EMPLOYMENT AGREEMENT

     This  Employment  Agreement made as of the 18 day of December , 1996 by and
between Endovasc Ltd., Inc. (ENDV),  a Nevada  corporation (the "Company"),  and
David P. Summers, Ph.D.

     Whereas, the Company wishes to employ the Employee and the Employee desires
to work  for the  Company  upon  the  terms  and  conditions  set  forth in this
Agreement;

     NOW,  THEREFORE,  in  consideration of the premises and the mutual premises
hereinafter set forth, the Company and the Employee agree as follows:

     1.  Employment.  The Company  hereby  agrees to employ the Employee and the
Employee  agrees to work for the Company upon the terms and conditions set forth
herein.

     2. Term of Employment.  Subject to Section 6, hereof,  this Agreement shall
have  a  term  of 3  years  commencing  June  10,  1996  (the  "Initial  Term").
Thereafter,  this Agreement  shall  continue in effect on a  year-to-year  basis
unless terminated in accordance with Section 6, hereof.

     3. Scope of Duties; Representations and Warranties.

          a. The Employee  shall be employed by the Company as its President and
     Chief Executive  Officer . At all times, the Employee shall serve under the
     direction  of the  Chairman  of the Board of  Directors  of the Company and
     Chief Operating Officer or their appointed  designee and shall perform such
     services as the Chairman and Board of  Directors  in its  discretion  shall
     deem appropriate.

          b. So long as he/she is employed by the Company,  the  Employee  shall
     devote his/her skill,  energy and best efforts to the faithful discharge of
     his/her duties as an employee of the Company.  The Employee  agrees that in
     the  provision of all services to the Company,  he/she will comply with and
     follow all directives,  policies,  standards and  regulations  from time to
     time established by the Board of Directors of the Company.

          c. The  Employee  represents  and  warrants  that  he/she  is under no
     contractual  or other  restrictions  or  obligations  which will in any way
     limit his  activities  on behalf of the Company;  other than those  already
     disclosed and mutually agreed upon as noted here: None.

     4. Compensation.

          a. During the first year of this Agreement,  the Company shall pay the
     Employee  a  base  salary,   payable   bi-monthly  in  arrears,   in  equal
     installments at a rate equal to $150,000 per annum. In each subsequent year
     of this Agreement,  the Company shall pay to the Employee a salary equal to
     the greater of (i) his salary for the immediate  preceding  year, or (ii) a
     salary  determined by the Board of Directors and/or CEO following an annual
     salary  and  performance  review.  The  Company  shall pay an annual  bonus
     pursuant  to an  annual  incentive  compensation  plan  up  to 50 % of  the
     Employee's base salary,  based upon Employee attaining mutually agreed upon
     goals.

          b. All payments of salary and other compensation to the Employee shall
     be made after deduction of any taxes which are required to be withheld with
     respect thereto under applicable federal and state laws.

     5.  Non-Compete.  The  Employee  agrees not to enter  into any  employment,
consulting or advisory  capacity  that competes with the Company's  products and
technologies  during  the  term  of  this  Agreement  and for  three  (3)  years
thereafter.

     6.  Confidentiality  and  Non-Disclosure.  The Employee  agrees to maintain
confidentiality  and  not  to  disclose  any  of the  Company's  trade  secrets,
processes,  designs and other  proprietary  information  during the term of this
Agreement,  except through similar  confidential  disclosures  having to do with
specific  negotiation on behalf of the Company,  and for a period of three years
after termination of his/her employment.

<PAGE>
     7. Governing Law. This Agreement shall be governed by the laws of the State
of Nevada.


Agreed to and accepted by Employee:         Agreed to and Accepted by Company:


/s/ David P. Summers                        /s/ Jackie R. See
Name: David P. Summers, Ph.D.                   Jackie R. See, M.D.
                                                Chief Operating Officer