Exhibit 10.69


                        AMENDMENT TO EMPLOYMENT AGREEMENT

     AMENDMENT TO EMPLOYMENT  AGREEMENT ("this Amendment") dated this 1st day of
August,  2000, by and between  TREMONT  INVESTMENT  MANAGEMENT,  INC., a company
organized  under the laws of the  Province of Nova Scotia and the laws of Canada
and ROBERT PARNELL,  an individual  residing at 230 Guildwood Parkway,  Toronto,
Ontario M1E 1P7 Canada ("Parnell").

                                  WITNESSETH:

     WHEREAS,  Parnell is employed by Tremont pursuant to and in accordance with
the terms and  conditions  contained in an employment  agreement  dated July 17,
1998 (the "Employment Agreement"), by and between Tremont and Parnell; and

     WHEREAS,  Parnell and Tremont are each desirous of amending the  Employment
Agreement in accordance with this Amendment, effective August 1, 2000.

         NOW, THEREFORE, in consideration of the promises and mutual covenants,
terms and conditions hereinafter set forth and in the Employment Agreement, the
parties hereto hereby agree as follows:

1. Section 2 of the  Employment  Agreement  is hereby  amended and shall read as
follows:  "Term of Employment.  Parnell's  employment under this Agreement shall
commence as of the date hereof and continue until July 31, 2001,  which shall be
automatically renewed for one-year periods, unless sooner terminated pursuant to
Section 8 of the Employment Agreement.

2. Section 7(a) of the  Employment  Agreement are hereby amended by deleting the
following phases: (i)  "U.S.$125,000.00  for the annual period commencing on the
August 1, 1998 and ending on July 31,  1999" and (ii)  "U.S.$150,000.00  for the
annual period  commencing on the August 1, 1999 and ending on July 31, 2000" and
inserting in their place  "U.S.$200,000.00  for the annual period  commencing on
the August 1, 2000 and ending on July 31, 2001".  The  following  phase has been
deleted  from the  paragraph  that  follows  section 7 (a)(ii):  "Following  the
Initial Term, the renewal of the terms of Parnell's  employment and compensation
shall be  determined  by the Board of  Directors of the  Corporation;  provided,
however,  that Parnell's annual salary shall not exceed  U.S.$150,000 until such
time as any and all redeemable  preferred  shares of the  Corporation  issued to
Tremont in exchange for additional capital contributions, as contemplated in the
Joint Venture and provided for in the Shareholders' Agreement have been redeemed
in full.

3. Except to the extent amended by this  Amendment,  the terms and conditions of
the Employment  Agreement shall remain in full force and effect. In the event of
any conflict  between the terms of the  Employment  Agreement and the Amendment,
the Amendment shall control.



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4. Each party hereby represents and warrants to the other that each has read the
foregoing  provisions and that each has had a sufficient  opportunity to discuss
this  Amendment  with  anyone each party might  desire  prior to signing  below.
Further, in signing this Amendment, each party has not relied on or been induced
to execute this  Amendment by any  statements,  representations,  agreements  or
promises,  oral or  written,  made  by the  other  except  for  those  expressly
contained in this Amendment.

     IN WITNESS  WHEREOF,  this Amendment has been executed and delivered by the
parties hereto as of the date first above written.


                                 By: /s/ Robert Parnell
                                     ----------------------------------------
                                     Robert Parnell


                                 TREMONT INVESTMENT MANAGEMENT, INC.


                                 By: Stephen T. Clayton
                                     ----------------------------------------
                                     Stephen T. Clayton, Chief Financial Officer









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