<PAGE>

                                                                    Exhibit 10.1

                         EXECUTIVE EMPLOYMENT AGREEMENT

     This Executive Employment Agreement (the "Agreement"), effective as of
January 1, 2002 (the "Effective Date"), is the employment agreement by and
between GLAS-AIRE INDUSTRIES LTD., a corporation duly incorporated under the
laws of British Columbia with its registered and records office at 3137
Grandview Highway, Vancouver, British Columbia, Canada, and CRAIG GROSSMAN, an
individual residing at 4817 South Kalispell Street, Aurora, Colorado, United
States of America (the "Executive").

     Whereas, the Company desires to enter into this Executive Employment
Agreement with the Executive in order to employ the Executive and has offered
the Executive incentives for being employed by the Company; and the Company
believes it is necessary, proper, and in the best interests of the Company and
its shareholders to encourage the Executive to be employed by the Company; and

     Whereas, the Company desires to employ the Executive for the period of 24
months from the Effective Date hereof and any renewal periods thereafter; and

     Whereas, both parties desire to embody the terms and conditions of
employment of the Executive into a written agreement.

     Now, Therefore, in consideration of the mutual covenants herein contained,
the parties hereby agree as follows:

     1.   Definitions.

          a. "Board" shall mean the Board of Directors of the Company together
     with an executive committee thereof (if any), as the same shall be
     constituted from time to time.

          b. "Cause" for termination shall mean (i) that the Company acting in
     good faith based upon information then known to the Company has determined
     that Executive has engaged in or committed willful misconduct, gross
     negligence, embezzlement, theft, fraud or other illegal conduct; (ii)
     Executive's refusal or unwillingness to perform his duties; (iii) engaging
     in any conduct that involves a conflict of interest, insubordination,
     failure to follow the written directions of the Board of Directors or any
     committee thereof, or any other material breach of this Agreement; (iv)
     breach of any confidentiality or trade secret agreements between the
     Company and Executive; or (v) conviction of any felony, or any entry of a
     plea of nolo contendere, under the laws of Canada, any province in Canada,
     the United States or any state in the United States. In the case of (ii)
     and (iii), the Board of Directors must provide written notice containing
     the Board's good faith determination that the Executive was guilty of
     conduct set forth above in clause (ii) and (iii) and provide Executive a
     period of thirty (30) days in which to cure or remedy (if possible) the
     offending conduct; and upon cure or remedy, there shall be no cause.

                                      -1-
<PAGE>

          c. "Change of Control" shall mean the occurrence of one or more of the
     following three (3) events:

               i. after the Effective Date of this Agreement, any person or
          persons acting in concert, becomes a beneficial owner (as such term is
          defined in Rule 13d-3 promulgated under the Securities Exchange Act of
          1934) directly or indirectly of securities representing 33% or more of
          the total number of votes which may be cast for the election of
          directors of Glas-Aire Industries Group Ltd., a Nevada corporation
          ("Glas-Aire Group"); provided that the issuance by Glas-Aire Group of
          the Series A Preferred Stock or the shares of common stock to be
          issued upon conversion of the Series A Preferred Stock shall not be
          considered in determining whether a "change of control" has occurred;
          or

               ii. within one (1) year after a merger, consolidation,
          reorganization, liquidation, or sale of assets involving Glas-Aire
          Group or a contested election of a Glas-Aire Group director or any
          combination of the foregoing, the individuals who were directors of
          Glas-Aire Group immediately prior thereto shall cease to constitute a
          majority of the Board of Glas-Aire Group; or

               iii. within one (1) year after a tender offer or exchange offer
          for voting securities of Glas-Aire Group, the individuals who were
          directors of Glas-Aire Group immediately prior thereto shall cease to
          constitute a majority of the Board or Glas-Aire Group.

          d. "Disability" shall mean written documentation by a physician
     mutually agreeable to the Company and the Executive (or in the event of the
     Executive's total physical or mental disability, the Executive's legal
     representative) that the Executive is physically or mentally unable to
     perform his duties under this Agreement and that such disability can
     reasonably be expected to continue for a period of six (6) consecutive
     months or for shorter periods aggregating one hundred eighty (180) days in
     any twelve (12) month period.

          e. "Executive" shall mean Craig Grossman and, if the context requires,
     his heirs, personal representatives, and permitted successors and assigns.

          f. "Person" shall mean any natural person, incorporated entity,
     limited or general partnership, business trust, agency (governmental or
     private), division, political sovereign, or subdivision or instrumentality.

          g. "Reorganization" shall mean any transaction or any series of
     transactions consummated in a twelve (12) month period pursuant to which
     any Person acquires (by merger, acquisition, or otherwise) all or
     substantially all the assets of the Company or the then outstanding equity
     securities of the Company or any of its Subsidiaries and the Company or the
     Subsidiary or Subsidiaries which are involved are not the surviving entity
     or entities, the Company and any Subsidiary being deemed surviving if, and
     only if, the majority

                                      -2-
<PAGE>

     of the Board of Directors of the surviving entity were directors of the
     Company or Subsidiary involved with the transaction prior to the
     reorganization.

          h. "Subsidiary" or "Subsidiaries" shall mean any corporation or entity
     of which the Company shall from time to time own more than 50% of the
     voting stock or ownership interests.

     2.   Employment Period and Duties.

          a. Term. The Company hereby agrees to employ the Executive as
     President and Chief Executive Officer ("CEO") and the Executive hereby
     agrees to serve the Company in such capacity for a period commencing on the
     Effective Date of this Agreement and continuing thereafter for a period of
     twenty-four (24) months unless terminated by either party as provided
     herein.

          b. Services. Executive will perform those duties and have such
     authority and powers as are customarily associated with the offices of
     President and Chief Executive Officer and as set forth in the Company's
     Bylaws and, as may from time to time be assigned by the Board of Directors.

     3. Scope of Duties. The Executive will devote such amount of business time
to the conduct of the business of the Company as may be reasonably required to
effectively discharge Executive's duties under this Agreement, subject to the
supervision and direction of the Company's Board of Directors. Executive further
agrees to serve as Director of the Company, if nominated and elected as such;
provided, however, Executive shall be entitled to vacation periods as provided
in this Agreement and shall be entitled to engage in other business ventures,
and in particular to maintain employment as President and Chief Executive
Officer of Glas-Aire Industries Group Ltd., a Nevada Corporation, but only to
the extent that such other business does not interfere with or adversely affect
the performance of Executive's services under this Agreement.

     4. Location. The Executive shall perform the above services from a location
directed by the Company. If the Executive is required by the Company to relocate
to provide the above services, the Company shall pay for all direct costs and
expenses of relocation.

     5. Compensation. The remuneration of the Executive for his services
hereunder shall be at the rate of CDN $100,000 per year, together with any such
increments thereto as the Board of Directors of the Company may from time to
time determine, payable in bi-monthly installments in arrears.

     6. Reimbursement of Expenses. The Executive shall be reimbursed for all
reasonable, out-of-pocket expenses, including but not limited to travel and
entertainment expenses, incurred by him in connection with his duties hereunder.

     7. Vacation. The Executive shall be entitled to take and be paid for four
(4) paid vacation weeks per calendar year, to be taken at times acceptable to
the Executive. A total of up to four (4) weeks unused vacation may be
accumulated over the term of this Agreement. The Executive

                                      -3-
<PAGE>

shall also be entitled to be paid for all statutory holidays in effect in the
province of British Columbia. The Executive shall be entitled to additional
unpaid vacation to be negotiated with the Board of Directors.

     8.   Termination.

          a. Termination by Company for Other Than Cause. If the Company
     terminates the employment of the Executive without cause and without
     notice, the Executive will be entitled to receive as compensation in lieu
     of notice the remuneration that he would have received during the period
     following the termination for which the Executive is entitled to
     compensation for length of service under the Employment Standards Act.

          b. Termination by the Company for Cause. The Company shall have the
     right to terminate the employment of the Executive for Cause. Upon
     Termination of the Executive for Cause, Executive is to be immediately paid
     all salary and vacation pay accrued to the date of termination, but
     Executive will not be paid any severance compensation.

          d. Termination by Executive Without Cause. Executive may voluntarily
     terminate this Agreement at any time after giving the Company ninety (90)
     days prior written notice. In the event of a voluntary Termination by the
     Executive Without Cause, Company will pay to Employee all salary and
     vacation pay accrued to the date of termination, but Employee will not be
     paid any severance compensation.

          e. Change in Control. If at any time during the term of this Agreement
     there is a Change of Control, this, at Executive's option (to be exercised
     within one (1) year from the date Executive receives notice of the Change
     in Control), shall be considered a termination of Executive's employment by
     the Company for Other than Cause, and the provisions of paragraph (a) shall
     apply.

          f. Termination on Account of Executive's Death. In the event of
     Executive's death during the term of this Agreement, this Agreement shall
     terminate and Executive's designee shall receive all accrued salary and
     vacation pay.

     9. The Executive's Rights under Certain Plans. The Company agrees that
nothing contained herein is intended to or shall be deemed to be granted to the
Executive in lieu of any rights and privileges under any retirement, pension,
profit, insurance, hospitalization, moving expense reimbursement, or other plans
which may now be in effect or which will be adopted during the Employment
Period.

     10. Binding Agreement, Non-assignability. This Agreement and the rights and
obligations of the parties shall bind and inure to the benefit of each of the
parties hereto and shall also bind and inure to the benefit of any successor or
successors of the Company by reorganization, merger, or consolidation and any
assignee of all or substantially all of its business and properties; but except
as to any successor or assignee of the Company, neither this Agreement nor any
rights or benefits hereunder may be assigned by the Executive.

                                      -4-
<PAGE>

     11. Governing Law. This Agreement shall be governed by the laws of the
Province of British Columbia.

     12. Arbitration of Disputes and Judicial Proceedings. Any controversy or
claim arising out of or relating to this Agreement, or breach of this Agreement,
is to be settled by court action in British Columbia, Canada.

     13. Counterparts. This Agreement may be executed in several counterparts,
each of which shall be deemed an original and all of which shall constitute one
and the same instrument.

     In Witness Whereof, the Company has caused this Agreement to be executed
and its seal to be affixed hereunto by its officer thereunto duly authorized,
and the Executive has signed this Agreement, all as of the day and year written
above.

                                 GLAS-AIRE INDUSTRIES LTD.


April 12, 2002                   By:
                                    --------------------------------------------
                                 William R. Ponsoldt, Sr., Chairman of the Board


April 12, 2002
                                 -----------------------------------------------
                                 Craig Grossman

                                      -5-