Document:

EMPLOYMENT AGREEMENT

      This  employment  contract  (the  "Agreement")  is  entered  into and made
effective  as of  September  ___,  2006 (the  "Effective  Date") by and  between
American Racing Capital,  Inc., a Nevada  corporation  (the  "Company"),  and A.
Robert Koveleski, a resident of the State of California (the "Employee").

                                    RECITALS

      WHEREAS,  the Company  desires to employ and retain the  Employee  for the
term  specified  herein in order to advance the  business  and  interests of the
Company on the terms and conditions set forth herein; and

      WHEREAS,  the  Employee  desires to provide his services to the Company in
such capacities, on and subject to the terms and conditions hereof; and

      WHEREAS,  the Company desires to provide the Employee with certain options
to  acquire  stock in the  Company  in  order  that  the  Employee  may have the
opportunity to participate in the growth and performance of the Company,  as set
forth herein; and

      NOW, THEREFORE,  the parties hereto,  intending to be legally bound, agree
as follows:

      1. Adoption of Recitals.  The Company and Employee  hereto adopt the above
recitals as being true and correct.

      2. Employment.

            (a)  Subject  to the terms and  conditions  set  forth  herein,  the
Company hereby employs Employee, and Employee hereby agrees to serve the Company
for a three-year  period from the Effective Date of this Agreement  ("Employment
Period").

      3. Duties and Responsibilities.

            (a) During the Employment  Period,  the Employee shall serve as Vice
President and Secretary of the Company. In such role, Employee shall perform all
executive and administrative duties, all functions and privileges incumbent with
the position of Vice President and Secretary, and any other duties as reasonably
prescribed  by the Board of Directors of the Company (the  "Board") from time to
time;  provided,  however,  that such duties and responsibilities are consistent
with  Employee's  position.  Employee shall also serve as a member of the Board.
During the Employment Period,  Employee shall perform and discharge  faithfully,
diligently,  in good faith and to the best of Employee's ability such duties and
responsibilities.  The  Employee  agrees  to  devote  as much of his  time as is
reasonably  necessary  to  accomplish  his  duties  and  obligations  under this
Agreement. Employee shall provide his services from San Diego, California.

            (b) Other Activities.  The Employee,  during the Employment  Period,
may engage in other activities for compensation  outside his employment with the
Company, as long as these activities do not materially interfere with or detract
from the  performance of Employee's  duties or constitute a breach of any of the
provisions contained in this Agreement.  Those activities will include but shall
not be  limited  to  serving  in a  consulting  role to any other  affiliate  or
subsidiary of the Company.

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      4. Compensation.

            (a) Base Salary. During the Employment Period, the Company shall pay
to Employee an annual base salary ("Base Salary") of One Hundred Twenty Thousand
Dollars  ($120,000.00)  payable on a bi-monthly basis or otherwise in accordance
with the Company's  customary  payroll  practices,  throughout  the term of such
employment   subject  to  the   provisions   of  Section  6  hereof   (governing
Terminations),  and subject to any  applicable tax and payroll  deductions.  The
Base Salary shall increase by five percent (5%) (the "Annual  Salary  Increase")
on the anniversary  date of the Effective Date on the same date each year during
the  Employment  Period.  The Board shall review the Annual Salary  Increase and
shall have the authority to modify the terms of the Annual Salary Increase.  Any
such  modifications  in the Annual Salary  Increase shall be communicated to the
Employee  thirty  (30) days  prior to the date when the Annual  Salary  Increase
would be effectuated.

            (b) Bonus. In addition to the Salary,  Employee shall be entitled to
such bonuses and benefits as may be determined  by the Board.  Any bonus granted
pursuant to this  Section 4(b) shall be paid within  forty-five  (45) days after
the end of the fiscal year for which such bonus is earned.

            (c) Stock  Options.  During the Employment  Period,  the Company may
issue to the  Employee  stock  options (the "Stock  Option") to acquire  250,000
shares  of the  Company's  common  stock,  par value  $.001  per share  ("Common
Stock").  The number of shares to be acquired  pursuant to the Stock Options may
be  determined  by the Board of Directors at the time of issuance and may differ
from the number set for herein.  After the expiration,  or exercise of the Stock
Option,  Employee  shall be entitled to  participate  in the  Company's  regular
employee stock option program in the same manner as the other  executives of the
Company and its affiliates.

            (d) Other Benefits.  During the Employment Period, Employee shall be
entitled to apply to participate in any and all employee benefit plans, programs
or  arrangements  (collectively  the  "Plans"),  implemented  by the Company and
available to  employees of the Company,  including  medical,  401(k)  plans,  or
similar plans, at such time when the Company will be able to adopt and implement
these  plans.  Employee's  participation  in such plans shall be governed by the
terms of the respective plans.

            (e) Fringe benefits.

                  (i) During the  Employment  Period,  the Company shall pay for
directly or  reimburse  Employee for all  reasonable,  customary  and  necessary
business-related  expenses incurred by Employee in connection with the duties of
Employee hereunder,  in accordance with the applicable Company policy, as may be
revised  from time to time,  and upon  submission  by Employee to the Company of
such written evidence of such expense as the Company may require.

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                  (ii) The Employee shall be entitled to four (4) vacation weeks
as provided in the  Company's  policies.  Employee's  vacation  accrual shall be
capped at two (2) years' worth of vacation  (which in aggregate shall be no more
than eight (8) weeks of vacation.

                  (iii)  Nothing  paid  to  Employee  under  any  Company  Plan,
bonuses,  or fringe benefit  arrangements  shall be deemed to be in lieu of Base
Salary payable to Employee hereunder.

      5. Restrictive Covenants.

            (a) Non Disclosure of Confidential Information.

                  (i) During and at all times after the Employment  Period,  the
Employee shall not, directly or indirectly, without the prior written consent of
the Board,  or a person  duly  authorized  thereby,  other than a person to whom
disclosure  is  reasonably  necessary  or  appropriate  in  connection  with the
performance by Employee of the duties of Employee as an employee of the Company,
access, maintain, keep, disclose or use for the benefit of himself or herself or
any other person, corporation, partnership, joint venture, association, or other
business organization,  any of the trade secrets or Confidential  Information of
the  Company.  If Employee is legally  required  to  disclose  any  Confidential
Information, Employee will notify Company prior to doing so by providing Company
with  written  notice  ten (10) days in  advance of the  intended  or  compelled
disclosure.  Notice  shall be  provided  as defined in Section 7 below.  For the
purposes  of  this  Agreement,   "Confidential   Information"   shall  mean  all
information,  whether  written or oral,  tangible or  intangible,  of a private,
secret,  proprietary or confidential nature, of or concerning the Company or any
of its  subsidiaries  or affiliates and their business and  operations,  and all
files, letters,  memoranda,  reports,  records, computer disks or other computer
storage medium,  data,  models or any  photographic or other tangible  materials
containing such information including without limitation, any sales, promotional
or marketing plans, programs, techniques, practices or strategies, any expansion
plans (including existing and entry into new geographic and/or product markets),
and any customer lists.

                  (ii) The  Employee  hereby  assigns to the  Company all right,
title and interest in such Work Product made or conceived by the Employee  alone
or jointly with others  (whether  during the Employment  Period or any period of
employment  with the Company or any of its  affiliates  following the Employment
Period) which relates to the business of the Company or any such affiliate. This
assignment shall include (a) the right to file and prosecute patent applications
on such Work Product in any and all countries, (b) the patent applications filed
and patents issuing thereon and (c) the right to obtain copyright,  trademark or
trade name protection for any such Work Product. The Employee shall promptly and
fully  disclose all such Work Product to the Company and  reasonably  assist the
Company,  at the  Company's  expense,  in obtaining  and  protecting  the rights
therein (including patents thereon) in any and all countries; provided, however,
that said Work  Product  will be the  property  of the  Company,  whether or not
patented or registered for copyright, trademark or trade name protection, as the
case may be. Work Product conceived by the Employee, which is not related to the
business of the  Company,  will remain the  property  of the  Employee.  For the
purposes  of this  Agreement,  "Work  Product"  shall mean the data,  materials,
documentation,  computer programs, inventions,  (whether or not patentable), and
all works of  authorship,  including all worldwide  rights therein under patent,
copyright, trade secret, confidential information, or other proprietary right.

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            (b)  Non-Competition.  In  consideration  of his  employment and the
other benefits arising under this Agreement, the Employee agrees that during the
Employment Period, and for (i) the greater of the balance of the Employment Term
or two (2) years following the termination of this Agreement by the Company "for
cause" or  termination  of this  Agreement by the Employee or (ii) six months in
the event the Employee is terminated  "without cause"  (provided that he Company
continues to make the payments due the Employee hereunder), the Employee (or any
affiliate) shall not directly or indirectly:

                  (i)  During  the  Employment  Period,  the  Employee  (or  any
affiliate) shall not directly or indirectly:

                  (ii) Own, manage, operate, join, control or participate in the
ownership,  management,  operation or control of, or be employed or retained by,
render  services  to,  provide  financing  (equity  or debt) or  advice  to,  or
otherwise be connected in any manner with any business that at any time competes
with any business of the Company (such as auto,  motorbike,  or vehicle  racing,
driving school or motorsports  related,  anywhere in North  America);  provided,
however,  that nothing  contained herein shall prevent the purchase or ownership
by the  Employee of less than 1% of the  outstanding  equity  securities  of any
class of securities of a company  registered  under Section 12 of the Securities
Exchange Act of 1934, as amended;

                  (iii) For any reason,  (1) induce any  customer or supplier of
the Company or any of its subsidiaries or affiliates to patronize or do business
with any business  directly or indirectly  in  competition  with the  businesses
conducted by the Company or any of its  subsidiaries or Affiliates in any market
in which the Company or any of its subsidiaries or Affiliates does business; (2)
canvass,  solicit or accept from any  customer or supplier of the Company or any
of its subsidiaries or affiliates any such competitive  business; or (3) request
or advise any  customer or vendor of the Company or any of its  subsidiaries  or
Affiliates  to  withdraw,  curtail or cancel  any such  customer's  or  vendor's
business with the Company or any of its subsidiaries or Affiliates; and

                  (iv) For any reason,  employ,  or knowingly permit any company
or business directly or indirectly  controlled by him, to employ, any person who
was  employed  by the Company or any of its  subsidiaries  or  affiliates  at or
within the prior one (1) year,  or in any manner  seek to induce any such person
to leave his or her  employment;  provided such  restriction  shall not apply to
general  solicitations  or  advertisements  posted on the web or  published in a
newspaper or other media.

            (c) Need for Restrictions. The Employee acknowledges and agrees that
each of the restrictive  covenants contained in this Section 5 is reasonable and
necessary  to  protect  the  legitimate   business  interests  of  the  Company,
including,  without limitation,  the need to protect the Company's trade secrets
and the Confidential Information.

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            (d) Breach of Restrictive Covenants. In the event of a breach by the
Employee of any restrictive covenant set forth in Section 5, the Employee agrees
that such a breach would cause  irreparable  injury to the Company,  and that if
the Company  shall bring legal  proceedings  against the Employee to enforce any
restrictive covenant,  the Company shall be entitled to seek all available civil
remedies,  at law or in equity,  including,  without limitation,  an injunction,
damages, attorneys' fees, and costs. Employee agrees that given the significance
of the Company's Confidential Information,  Employee, as a material part of this
Agreement, acknowledges and agrees that he will not oppose the Company's request
to post only the minimum bond  required by law in the event the relief sought by
the Company requires that the Company post a bond. Employee  specifically agrees
that he or she will  not make any  argument  or seek any  order  from the  court
requiring  the  posting  of a bond  greater  than  the  minimum  imposed  by any
applicable statute.

            (e)  Construction,  Survival.  If the period of time or scope of any
restrictions specified in this Section 5 should be adjudged unreasonable,  void,
or  unenforceable  in any proceeding,  then the period of time or scope shall be
reduced or altered so that the restrictions may be enforced as is adjudged to be
reasonable and consistent with public policy and law. All the provisions of this
Section 5 shall survive the Employment Period.

            (f) Successors and Assigns. The restrictive covenant may be enforced
by the Company and its successors and assigns.

      6. Termination.

            (a) Termination upon Death.  Employee's  employment  hereunder shall
terminate upon the death of Employee;  provided,  however,  that for purposes of
this Agreement the Date of Termination based upon the death of Employee shall de
deemed to have  occurred  on the last day of the month in which the death of the
Employee shall have occurred.

            (b)  Termination  upon  Incapacity.  If the  Employee  is  unable to
perform the  essential  functions of his  position,  with or without  reasonable
accommodation,  for a period in excess of twelve (12) weeks  during the previous
twelve  (12)  months,  due  to a  physical  or  mental  illness,  disability  or
condition,  the Company may terminate Employee's employment hereunder at the end
of any calendar month by giving  written Notice of Termination to Employee.  Any
questions as to the existence,  extent or  potentiality of illness or incapacity
of Employee upon which the Company and Employee cannot agree shall be determined
by a qualified independent physician selected and paid for by the Company who is
acceptable to Employee or his personal  representative,  as the case may be. The
determination  of such  physician  certified  in writing to the  Company  and to
Employee  shall be final and  conclusive  for all  purposes  of this  Agreement.
Section 6 (b) is intended to be  interpreted  and  applied  consistent  with the
Americans with  Disabilities Act and Sections 503 and 504 of the  Rehabilitation
Act of 1973;  the Family and  Medical  Leave Act of 1993;  the  California  Fair
Housing  and  Employment  Act;  and any  state  or local  ordinance  prohibiting
discrimination, harassment and/or retaliation on the basis of a disability.

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            (c)  Termination  for Cause.  The Company may  terminate  Employee's
employment  hereunder  for Cause by giving  written  Notice  of  Termination  to
Employee  (as  defined  below in Section 6 (f) hereof.  The Date of  Termination
shall be specified in the Notice of  Termination  and may be immediate.  For the
purpose  of  this  Agreement,  the  Company  shall  have  "Cause"  to  terminate
Employee's  employment  hereunder  upon  Employee's  (i)  continued  failure  to
materially  perform and  discharge the duties and  responsibilities  of Employee
under this Agreement after receiving written notice  specifically  setting forth
such failures and allowing  Employee thirty (30) days to cure such failures,  if
so  curable,  (provided,  however,  that after one such notice has been given to
Employee during the Employment Period,  Company is no longer required to provide
time to cure subsequent failures for the reasons specified in the initial notice
under this Subsection 6(c)(i)), or (ii) any breach by Employee of the provisions
of Sections 5; or (iii) Employee is convicted of a felony under federal or state
law  involving  moral  turpitude,   or  a  determination  by  the  Board,  after
consideration  of all available  information  and following the  procedures  set
forth below,  that  Employee  has  willfully  and  materially  violated  Company
policies  or  procedures  involving  discrimination,   harassment,   alcohol  or
substance abuse, or workplace violence; or (iv) misconduct which, in the opinion
and sole, but reasonable  discretion of the Company, is materially  injurious to
the Company,  or which constitutes a material breach of this Agreement,  Company
policy,  or  Employee's  duties to the Company;  provided  however that Employee
shall have thirty (30) days following written notice of such breach or violation
to cure the  breach or  violation,  (v)  Employee's  actions or  omissions  that
constitute fraud, or gross misconduct that have a material adverse effect on the
Company.

            (d)  Termination  by the  Company  without  Cause.  The  Company may
terminate the  Employee's  employment at any time without Cause upon thirty (30)
calendar days notice by delivering  written notice to the Employee.  The Date of
Termination  shall be specified in the Notice of Termination;  provided however,
that the Date of Termination shall not be earlier than thirty (30) calendar days
after delivery of the Notice of Termination.

            (e)  Termination  by the  Employee  for Good  Reason.  Employee  may
terminate this Agreement for Good Reason.  For purposes of this Agreement  `Good
Reason' shall mean (i) a material  breach by the Company or its affiliate of its
obligations  under this Agreement,  or any other agreement  between Employee and
the Company or a Company  affiliate,  (ii) any material change in the assignment
of duties or responsibilities to Employee by the Board which are inconsistent in
a material and adverse  respect  with  Employee's  position  causing it to be of
materially  less  stature or  responsibility,  or (iii)  Employee is required to
relocate from San Diego, California. Any such breach by the Company, if curable,
may be cured within ten (10) days after notice thereof to the Company.

            (f)  Termination  by  the  Employee.  Employee  may  terminate  this
Agreement  by  delivering  written  notice to the Company.  The  Employee  shall
provide  ninety (90)  calendar days written  notice to the Company.  The Date of
Termination  shall be specified in the Notice of Termination;  provided however,
that the Date of Termination shall not be earlier than ninety (90) calendar days
after delivery of the Notice of Termination.

            (g) Notice of  Termination.  Notice of  Termination  to effectuate a
termination  under Section 6 shall be made in accordance  with Notice defined in
Section 8. For purposes of this Agreement,  a "Notice of Termination" shall mean
a notice, in writing, which shall indicate the specific termination provision of
this  Agreement  relied  upon as the basis for the  Termination  and the Date of
Termination.  The Date of  Termination  shall not be earlier  than the date such
Notice of Termination is delivered (as defined above);  provided  however,  that
the  Company,  at its option,  may elect to have the Employee not report to work
after the date of the written notice.

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            (h) Date of  Termination.  "Date of  Termination"  means the date on
which this Agreement shall terminate  (except for those provisions which survive
termination as specified in this Agreement) in accordance with the provisions of
this Section 6.

            (i) Obligation to Pay.

                  (i) For  Terminations  under  Subsection  6(a),  the estate of
Employee shall be paid all sums otherwise payable to Employee, including without
limitation  all  pro-rated  Base Salary,  Bonuses or other  benefits  accrued or
accruable  to  Employee  through  the end of the  month  in which  the  death of
Employee occurred.  The Bonuses will be pro-rated to the Date of Termination and
will be pro-rated after receipt of year-end results.

                  (ii) For  Terminations  under Subsection 6(b), the Employee or
the person charged with legal  responsibility for the Employee's estate shall be
paid all sums  otherwise  payable to the Employee,  including the pro-rated Base
Salary,  Bonuses and other benefits accrued or accruable to the Employee through
the Date of Termination, and the Company shall have no further obligation to the
Employee  under this  Agreement.  The Bonuses  will be  pro-rated to the Date of
Termination  and will be  pro-rated  after  receipt of  year-end  results to the
extent any additional sums would be owed after receipt of year end results.

                  (iii) For  Terminations  for Cause under  Subsection 6(c), the
Company shall pay the Employee his Base Salary and benefits  accrued through the
Date of Termination.  The Employee shall receive  pro-rated Bonuses and benefits
through  the Date of  Termination  and will not be entitled to receive any other
Bonuses or  benefits  not earned or accrued as of the Date of  Termination.  The
Bonuses will be pro-rated to the Date of Termination and will be pro-rated after
receipt of year-end results. The Company shall have no further obligation to the
Employee under this Agreement.

                  (iv) For Terminations without Cause under Subsection 6(d), the
Employee  shall  be  entitled  to the  lesser  of (i) the  Base  Salary  for the
remainder  of the  Employment  Period,  as well as medical  and dental  benefits
included in section 4(d) of this  Agreement  (provided that such benefits are in
place at the time of termination), without regard to the Date of Termination set
forth in the Notice of Termination or (ii) the Base Salary for two (2) years, in
one lump sum. The Employee shall receive  pro-rated Bonuses and benefits through
the Date of Termination and will not be entitled to receive any other Bonuses or
benefits not earned or accrued as of the Date of  Termination.  The Bonuses will
be pro-rated to the Date of Termination  and will be pro-rated  after receipt of
year-end results.

                  (v) For  Terminations  for Good Reason under  Subsection 6(e),
the  Employee  shall be  entitled  to the lesser of (i) the Base  Salary for the
remainder  of the  Employment  Period,  as well as medical  and dental  benefits
included in section 4(d) of this  Agreement  provided  that such benefits are in
place at the time of termination), without regard to the Date of Termination set
forth in the Notice of Termination or (ii) the Base Salary for two (2) years, in
one lump sum. The Employee shall receive  pro-rated Bonuses and benefits through
the Date of Termination and will not be entitled to receive any other Bonuses or
benefits not earned or accrued as of the Date of  Termination.  The Bonuses will
be pro-rated to the Date of Termination  and will be pro-rated  after receipt of
year-end results.

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                  (vi) For  Terminations by the Employee under  Subsection 6(f),
the Company shall pay the Employee his Base Salary and benefits  accrued through
the Date of  Termination.  The  Employee  shall  receive  pro-rated  Bonuses and
benefits through the Date of Termination and will not be entitled to receive any
other  Bonuses or benefits not earned or accrued as of the Date of  Termination.
The Bonuses will be pro-rated to the Date of  Termination  and will be pro-rated
after receipt of year-end results.  The Company shall have no further obligation
to the Employee under this Agreement.

      7.  Notice.  For the  purpose  of this  Agreement,  notices  and all other
communications to either party hereunder  provided for in the Agreement shall be
in writing and shall be deemed to have been duly given when  delivered in person
or three (3) business days after being mailed by certified mail,  return receipt
requested,  postage  prepaid,  two (2) business  days after being  provided to a
courier  for next  business  day  delivery,  or 24  hours  after  being  sent by
telecopy:

  in the case of the Company to:             American Racing Capital
                                             P.O. Box 563
                                             Zephyr Cove, NY 89448
                                             Attention:  Davy Jones
                                             Facsimile:

  in the case of Employee to:                A. Robert Koveleski
                                             6860 Robbins Court
                                             San Diego, CA 92122
                                             Telephone:  (858) 442-0568
                                             Facsimile:  (858) 558-0568

  With a copy (not constituting notice) to:  Harry J. Proctor Esq.
                                             Solomon Ward Seidenwurm & Smith LLP
                                             401 B Street, Suite 1200
                                             San Diego, CA 92101
                                             Telephone: (619) 231-0303
                                             Facsimile: (619) 231-4755

or to such other  address as either  party  shall  designate  by giving  written
notice of such change to the other party.

      8. Director's and Officer's Liability  Insurance.  To protect the Employee
from any liability,  loss, claims,  damages, or costs,  including legal fees and
costs,  prior to any public  offering  of any  securities  of the  Company,  the
Company,  at such time when the Company  shall have  sufficient  funds to do so,
shall purchase and maintain  director's and officer's  liability  insurance (the
"D&O Insurance") in an amount not less than One Million Dollars ($1,000,000), or
in such amount as is later agreed upon by the Employee and the Company and which
shall  include a duty to defend  clause.  The policy  shall name the Employee by
name or  title  as an  insured  in each  (and  all) of his  duties  and  titles,
including Vice President, Secretary and member of the Board.

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      9. Prior Agreements. The Employee represents to the Company (a) that there
are no  restrictions,  agreements,  or  understandings  whatsoever  to which the
Employee  is a party  which  would  prevent or make  unlawful,  impractical,  or
impossible the Employee's  execution of this Agreement or employment  hereunder,
or which would prevent him fully, faithfully, and completely from performing all
of his  obligations to the Company,  (b) that the  Employee's  execution of this
Agreement  and  employment  hereunder  shall  not  constitute  a  breach  of any
contract, agreement or understanding,  oral or written, to which the Employee is
a party or by which the Employee is bound, and (c) that the Employee is free and
able to execute this  Agreement and to enter into  employment by the Company.  A
written or oral notice or complaint  that Employee  breached  this  provision or
violated a  restrictive  covenant or an agreement  not to disclose  confidential
information  shall subject the Employee,  at the Company's sole  discretion,  to
immediate termination with cause,  irrespective of any advance notice provisions
contained in Section 8 above.  The Employee  also agrees to fully  indemnify the
Company for any and all direct damages,  costs and/or reasonable attorney's fees
incurred by the Company  that result or arise in any manner from any claims that
were related to the Employee's  breach of a restrictive  covenant,  an agreement
not to  disclose  confidential  information,  or other  duties  and  obligations
Employee owed or owes to any third party;  provided however, that Employee shall
not be  responsible  for special or  consequential  damages,  nor shall any such
damages exceed the amount of monetary compensation paid to Employee hereunder.

      10. Right to Review and Seek  Counsel.  The Employee  hereby  acknowledges
that he has actively engaged in the discussion and negotiation of this Agreement
and its terms and has had full and fair  opportunity  to discuss  and review the
Agreement  and its terms  with any legal or other  advisor of his choice and has
either done so, or voluntarily  declined to do so. Employee  further agrees that
this Agreement has been fully  negotiated by parties acting at arms' length with
full  opportunity  to negotiate  terms such that this  Agreement  and all of its
terms shall be deemed to have been drafted mutually by both parties.

      11. Waiver.  The waiver by the Company of a breach or threatened breach of
this  Agreement  by the  Employee  shall  not be  construed  as a waiver  of any
subsequent breach by the Employee.  Inaction or silence by the Company shall not
be deemed a waiver. No waiver of any breach is effective unless expressly stated
in writing and signed by a duly authorized member of the Board or its authorized
designee.

      12.  Entire  Agreement/Amendments.  No provision of this  Agreement may be
modified, waived or discharged unless such waiver,  modification or discharge is
approved  by the Board and  agreed to in  writing  signed by  Employee  and such
officer as may be specifically  authorized by the Board. This Agreement contains
the  entire   understanding   of  the  parties   hereto  and  no  agreements  or
representations,  oral or  otherwise,  express or implied,  with  respect to the
subject  matter hereof have been made by either  party,  which are not set forth
expressly  in  this  Agreement.  This  Agreement  supersedes  all  negotiations,
preliminary  agreements,  and all  prior  and  contemporaneous  discussions  and
understandings  of the parties  hereto  and/or  their  affiliates.  The Employee
acknowledges that he has not relied on any prior or contemporaneous  discussions
or understandings in entering into this Agreement.

                                     - 9 -
<PAGE>

      13.  Governing  Law.  This  Agreement  shall be governed and  construed in
accordance  with the laws of the State of Nevada  without regard to conflicts of
law.

      14. Consent to Personal Jurisdiction and Venue. Each party hereby consents
to personal  jurisdiction  and  exclusive  venue of the Federal and State courts
located in San Diego, California,  and waive any objections to such courts based
on venue in connection  with any claim or dispute  arising under this Agreement.
For purposes of this Section,  the term "Employee"  includes any business entity
owned or controlled by the Employee.

      15.  Headings  and  Captions.  The titles and captions of  paragraphs  and
subparagraphs  contained  in this  Agreement  are provided  for  convenience  of
reference  only,  and  shall  not be  considered  terms  or  conditions  of this
Agreement.

      16. Validity.  The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, which shall remain in full force and effect.

      17.  Survival.  The  provisions  of this  Agreement  shall not survive the
termination of Employee's employment  hereunder,  except that all the provisions
of Section 5, Section 8, Section 9, and Section 10 shall survive  termination of
this Agreement and termination of Employee's employment, and be binding upon the
parties.

      18. Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the Company and its successors  and assigns,  and the Employee
agrees that this Agreement may be assigned by the Company. This Agreement is not
assignable by the Employee.

      19.  Counterparts.   This  Agreement  may  be  executed  in  one  or  more
counterparts  and by facsimile,  each of which shall be deemed to be an original
but all of which together will constitute one and the same instrument.

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the
day, month and year first above mentioned.

American Racing Capital, Inc.               Employee

By:
     -------------------------------
Name:                                       By:/s/ A. Robert Koveleski
     -------------------------------           ----------------------------
Title:                                             A. Robert Koveleski
      ------------------------------

                                     - 10 -EXHIBIT
      10.1

     

     

    URON
      Management Agreement

    

    This
      agreement is entered into this 1st day of August 2006 by and between Multiband
      Corporation (“Multiband”) and URON, Inc. (“System Operator”).

    

    WHEREAS,
      System Operator has requested Multiband to provide customer service and billing
      as set forth in the terms and conditions of this agreement.

    

    
      	1.	
              Multiband
                Services and Duties.
                The System Operator hereby agrees to contract Multiband to provide
                certain
                services and Multiband agrees to provide certain services to System
                Operator and its subscribers as outlined in Exhibit
                A.
                In addition to the foregoing, Multiband will maintain subscriber
                records
                and provide monthly reporting to System Operator. Multiband will
                use its
                best efforts to maximize call center efficiencies and automation
                to assist
                in the System Operator’s growth and profitability. The System Operator
                hereby agrees that in order to provide 24 hours a day, 7 days a week
                coverage, that outside of the below stated hours, calls are covered
                by a
                3rd
                party call center. Hours will be extended based on call
                volumes.

            

    

    

    Current
      Hours of Operation - Central Standard Time

    	•  	
            Monday
              - Friday 7:00
              am - 12 midnight 

          

    	•  	
            Saturdays
              9:00
              am - 7:00 pm 

          

    	•  	
            Sundays
              9:00
              am - 5:00 pm 

          

    

    
      	2.	
              System
                Operator Responsibilities.
                The System Operator hereby acknowledges that it is still responsible
                for
                its MDU systems and the maintenance thereof, along with, but not
                limited
                to the following:

            

    

    

    	1.  	
            provide
              Multiband with any information required about the MDU systems to enable
              Multiband to ensure subscriber support;

          

    	2.  	
            notify
              Multiband of any promotions the System Operator my
              deploy;

          

    	3.  	
            warn
              Multiband of any action that may increase call volume to the call
              center

          

    	4.  	
            give
              a written thirty (30) day notice of any rate increase the System Operator
              may apply

          

    	5.  	
            System
              Operator must have the ability to receive electronic reporting on a
              platform agreed upon by Multiband

          

    

    
      	3.	
              Service
                Rates/Payment Terms.
                Multiband shall receive payment for services provided to the System
                Operator as set forth in Exhibit
                A.
                Such payments shall be due to Multiband on the tenth (10th)
                day of the month following the service provided for the previous
                month.
                Failure to pay on or before the due date will result in an interest
                penalty equal to 18% per annum. In the event System Operator has
                not paid
                Multiband for services rendered by any payment due date, then Multiband
                is
                hereby authorized by System Operator to pay itself by extracting
                the
                delinquent amounts plus interest from the revenue received from System
                Operator’s subscribers.

            

    

     

    
      
         

      

      
        Exhibit 10.1
          Page
          1

        
          

        

      

      
         

      

    

     

    
      	4.	
              Term.
                The initial term of this agreement shall be 1 year and shall automatically
                renew for an additional 1 year period with written consent of both
                System
                Operator and Multiband.

            

    

    

    
      	5.	
              Indemnification.
                The System Operator agrees to indemnify and hold Multiband harmless
                to any
                losses, costs, expenses or liabilities relating to the performance
                of
                Multiband’s obligations hereunder. 

            

    

    

    
      	6.	
              Amendments.
                This Agreement may not be amended, changed or modified without written
                consent from both parties.

            

    

    

    
      	7.	
              No
                Partnership.
                Nothing in this Agreement constitutes a partnership or joint venture.
                It
                is understood that Multiband and System Operator are independent
                entities
                and this Agreement is a contracted
                relationship.

            

    

    

    
      	8.	
              Governing
                Law.
                This Agreement shall be governed by the laws of the Sate of
                Minnesota.

            

    

    

    
      	9.	
              Non-Recourse.
                Notwithstanding anything contained in this Agreement to the contrary,
                it
                is expressly understood and agreed by each party that each and every
                representation, warranty, undertaking and agreement made in this
                Agreement, on the part of the other party, was not made or intended
                to be
                made as a personal or individual representation, undertaking or agreement
                on the part of any past, present or future general, limited partner,
                officer, director or shareholder or any of them, and no personal
                or
                individual liability or responsibility is assumed by, nor shall any
                recourse at any time be asserted or enforced against, any such past,
                present, or future general or limited partner, officer, director
                or
                shareholder or any of them, all of which recourse is hereby forever
                waived
                and released, the party’s sole recourse being to the assets and property
                of the other party. 

            

    

    

    
      	10.	
              DISCLAIMER
                OF WARRANTIES AND LIMITATIONS OF
                LIABILITY

            

    

    Both
      parties understand and acknowledge that this is a service Agreement, the sole
      and exclusive remedy of Client for any and all losses and damages relating
      to
      the Agreement or anything relating to the subject matter of the Agreement,
      including, without limitations, any claim of breach of warrant, breach of
      contract, negligence, or strict liability, shall be limited to a refund of
      the
      amount paid which is attributable to any nonconforming service, except as
      expressly stated herein. There are no warranties, expressed or implied. All
      other warranties, including warranties of merchantability or fitness, for a
      particular purpose, are excluded and will not apply to the service to be
      provided under this agreement. System Operator shall not be liable to Client,
      its employees, agents, customers or to any third party for any claim, lost
      sales
      or lost profits, which in any way arise out of or in conjunction with the
      services to be provided under this agreement, even if System Operator has been
      advised of the possibility of such loss or damage.

    

    
      	11.	
              Assignment.
                Neither party may assign or transfer this Agreement or any right
                or duties
                hereunder without written consent of the other, which consent shall
                not be
                unreasonably withheld.

            

    

     

    
      
         

      

      
        Exhibit 10.1
          Page
          2

        
          

        

      

      
         

      

    

    
 

    
      	12.	
              Confidentiality.
                Multiband acknowledges that, in the performance of its duties and
                responsibilities hereunder, it will receive confidential information.
                Multiband agrees that all such information shall be maintained as
                confidential and shall be used by Multiband only to perform its
                obligations under this Agreement.

            

    

    

    IN
      WITNESS WHEREOF, the parties have agreed to the terms and conditions of this
      Agreement.

    

    
      	Multiband
              Corporation	 	 	URON
              Inc.
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	 	 	 	By:	 
	 	
              

            	 	 	 	
              

            
	 	 	 	 	Name:

	 	 	 	 	 	
              

            

    

     

    

    
      
        Exhibit
          10.1 Page 3

         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
      A

    

    
      	1.	
              Tier
                1 and Tier 2- Customer Service and Help Desk:
                

            

    

    Multiband
      will make every reasonable effort to keep telephone support delivery at a high
      standard. As a part of this commitment, we will work diligently to keep hold
      times under an average of 2 minutes but can not make guarantees as incoming
      calls may change beyond Multiband’s control. We will make staffing decisions
      based on forecast of call volume and daily tracking of call traffic to help
      ensure and maintain this high level of customer support. 

    

    Call
      Handling:

    The
      Multiband facility has more than adequate incoming telecommunications capacity
      to handle ongoing telephone traffic associated with your business. The customer
      service team will greet the customer as one of your customers via phone system
      notification. The phones will be answered in a way that is suitable to the
      client. Call guides will be developed to bring consistency to the customer’s
      experience.

    

    Multiband
      will provide call traffic reports on a weekly or monthly basis depending on
      how
      often you want to see reports. Daily reports can be attained at customer’s
      request. 

    

    Sales
      Fulfillment: 

    Given
      the
      other call center functions Multiband is proposing, sales fulfillment within
      the
      call center becomes logical. As potential subscribers are evaluating services
      and service providers, it is not uncommon to have 1-2 phone interactions with
      a
      potential subscriber prior to them enrolling for service. Multiband has a great
      deal of experience in explaining various video and internet solutions and would
      be a strong asset to your business in securing subscribers who may be
      considering other options. 

    

    General
      Troubleshooting

    	-  	
            Verification
              if PC is on-line 

          

    	-  	
            Basic
              browser and e-mail setup and ongoing
              support

          

    	-  	
            Authentication
              support 

          

    	-  	
            Narrow
              down possible causes of issue for next
              escalation

          

    	-  	
            Verify
              system service delivery levels and signal strength (not available
              

          

    

    
      	2.	
              Invoice
                and Payment
                processing:

            

    

    Subscriber
      Invoices will be designed to reflect your preferred graphical look but will
      retain the layout of the existing Multiband invoice. The invoice will have
      telephone numbers and remittance addresses appropriate to the
      project.

     

    Below
      is
      our suggested invoicing and payment handling process:

    

    	1.  	
            Invoices
              are generated monthly in advance for services and would be delivered
              either electronically via email or via paper invoicing and the United
              States Postal Service.

          

    	2.  	
            Payments
              are either processed electronically via ACH or credit card on designated
              due date.

          

    	3.  	
            Customers
              will mail checks to the address designated by you and reflected on
              the
              invoice.

          

    

    This
      invoicing and payment process enables Multiband customer service agents to
      efficiently handle customer billing questions as billing data will be up to
      date. Fulfillment of customer billing questions and concerns in a timely and
      accurate fashion is of utmost importance. Multiband strongly recommends that
      subscribers take advantage of automated payment methods. This message can be
      printed on invoices and told to the customer by the call center.

    

      
        
          Exhibit
            10.1 Page 4

           

        

        
           

          
            

          

        

        
           

        

      

Billing
      Cycle Dates

    

    Weekly

    

    
      	3.	
              Service
                Pricing:

            

    

    

    Fixed
      Payment of $116,500 , payable in advance

    Plus
      an
      additional fee for Customer Service & Billing of $3.25 per sub/month
(includes
      Dispatching) 

    Also,
      includes Web-based customer portal where customers can maintain their
      accounts

    Credit
      Card fees   
      3%

    New
      property setup fee  $2.00
      per
      door

    

     

    
      	4.	
              Accounting
                and Legal Assistance: Time and
                Materials

            

    

     

    
      	5.	
              Services
                calls: Time and Materials

            

    

    

    
      	 	Agreed to by:	 	 
	 	 	 	 
	 	 	 	 
	 	Multiband Corporation.	 	 
	 	 	 	 
	 	 	 	 
	 	URON , Inc.	 	 

    

     

     

    
      
        
          Exhibit
            10.1 Page 5

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