Document:

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EXHIBIT 4(e): FORM OF LETTER TO NOMINEE HOLDERS

UROPLASTY, INC.
2718 Summer Street Northeast
Minneapolis, Minnesota   55413-2820

February _____, 2002

To: Securities Dealers, Brokers, Commercial Banks, Trust Companies, and Other
    Nominees
Re: Rights Offering of Shares and Warrants

    This letter is being distributed to securities dealers, brokers, commercial
banks, trust companies and other nominees in connection with the offering by
Uroplasty, Inc. ("Uroplasty") of an aggregate of 3,069,036 shares of its common
stock, (the "Shares"), and 1,534,518 common stock purchase warrants (the
"Warrants"), pursuant to a Rights Offering. Non-transferable subscription rights
will initially be distributed on February _____, 2002 ("Subscription Rights"),
to all holders of record of shares of Uroplasty Common Stock as of the close of
business on February _____, 2002 (the "Record Date"). Each Subscription Right,
upon exercise, permits the holder to acquire two (2) Shares and one (1) Warrant
at a subscription price of $2.00 per subscription right. Each Subscription Right
also carries the right to oversubscribe at the Subscription Price for an
unlimited number of additional shares of Common Stock (subject to proration if
necessary). The Subscription Rights are described in the enclosed prospectus and
evidenced by a Rights Subscription Certificate registered in your name or in the
name of your nominee.

    Each beneficial owner of shares of Common Stock registered in your name or
the name of your nominee is entitled to one Subscription Right for each two
shares of Common Stock owned by such beneficial owner as of the Record Date.
Please note that the Company reverse split its stock, one-for-two, effective on
the Record Date.

    We are asking you to contact your clients for whom you hold shares of Common
Stock registered in your name or in the name of your nominee to obtain
instructions with respect to the Subscription Rights.

    Enclosed are copies of the following documents:

    1.  Prospectus;

    2.  Form of Letter from Uroplasty, Inc. to its Stockholders;

    3.  Rights Subscription Certificates; and

    4.  Return envelope addressed to Uroplasty, Inc., which is acting as its
        own Subscription Agent.

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    Your prompt action is requested. The Subscription Rights will expire at 5:00
P.M., Minnesota Time, on March _____, 2002 (as it may be extended, the
"Expiration Date").

    To exercise Subscription Rights, properly completed and executed
Subscription Certificates and payment in full for all Subscription Rights
exercised must be delivered to Uroplasty, Inc. as indicated in the Prospectus
prior to the Expiration Date.

    You may obtain additional copies of the enclosed materials by contacting
Christie Reeves at Uroplasty, Inc., at (612) 378-1180, or
christie.reeves@uroplasty.com.

Sincerely,

By: ________________________
Daniel G. Holman
Chief Executive Officer<PAGE>
                                                                    EXHIBIT 10.1

                  CONVERTIBLE NOTE REDEMPTION OPTION AGREEMENT

                  This CONVERTIBLE NOTE REDEMPTION OPTION AGREEMENT (the
"AGREEMENT") dated as of February 5, 2002 (the "EFFECTIVE DATE") is entered into
by and among E Com Ventures, Inc., a Florida corporation, with headquarters
located at 11701 N.W. 101st Road, Miami, Florida 33178 (the "COMPANY"), and the
undersigned (on the signature pages hereto) designated as "Holders of
Convertible Notes" (each individually, a "HOLDER" and collectively, the
"HOLDERS").

         WHEREAS:

         A.       Prior to the date hereof, the Company has issued to the
Holders the Company's Series C Convertible Notes on March 9, 2000 and Series D
Convertible Notes on March 27, 2000 (collectively, the "NOTES"); and

         B.       The Company desires to have the option to redeem the Notes,
and the Holders desire to allow the Company to have the option to redeem the
Notes, upon the terms and conditions stated in this Agreement.

         NOW THEREFORE, in consideration of the foregoing, of the mutual
covenants and agreements contained herein and of other good and valuable
consideration, the receipt, adequacy and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

         1.       REDEMPTION OF NOTES

                  a.       Scheduled Redemption. In the event that the Company
         elects to redeem a portion of the Notes in accordance with Section 1(b)
         below, on or prior to each Redemption Date (as set forth in Schedule 1
         attached hereto) the Company shall pay to the Holders, in aggregate,
         the Redemption Amount corresponding to such Redemption Date as set
         forth in Schedule 1 and any Redemption Amount corresponding to any
         previous Redemption Date (as set forth on Schedule 1) on which the
         Company failed to pay the applicable Redemption Amount or on which the
         Company did not previously elect to redeem. If the Company has elected
         to redeem a portion of the Notes in accordance with Section 1(b) below,
         on the applicable Redemption Date, each Holder shall receive from the
         Company that Redemption Amount designated for such Holder on Schedule 1
         for such applicable Redemption Date and any Redemption Amount
         corresponding to any previous Redemption Date (as set forth on Schedule
         1) on which the Company failed to pay the applicable Redemption Amount
         or on which the Company did not previously elect to redeem. (Schedule 2
         sets forth the components of each Holder's portion of the Redemption
         Amount on the applicable Redemption Date as applied to all Notes held
         by each Holder.) Each Holder's portion of each Redemption Amount on
         each Redemption Date shall consist of (x) the principal redeemed for
         each of such Holder's Notes (as set forth on Schedule 2) on such
         Redemption Date and (y) the additional amount for each of such Holder's
         Notes (as set forth on Schedule 2) as of such Redemption Date
         determined by multiplying twenty percent (20%) by the principal
         redeemed for each of

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         such Holder's Notes (as set forth on Schedule 2) on such Redemption
         Date. Interest and, if applicable, Default Interest (as defined in each
         Note) on each Note shall continue to be calculated and paid in
         accordance with each such Note.

                  b.       Mechanics of Redemption.

                           i.       Notice. In the event that the Company elects
         to redeem a portion of the Notes corresponding to such Redemption Date
         and any portion of Notes corresponding to any previous Redemption Date
         in which the applicable Redemption Amount was not paid by the Company
         to the Holders, the Company shall deliver written notice, in the form
         attached hereto as Exhibit A (a "NOTICE OF REDEMPTION"), via facsimile
         to each Holder no later than the fifth (5th) Business Day (defined
         below) prior to the applicable Redemption Date. Each Notice of
         Redemption sent by the Company to each Holder shall indicate (i) the
         aggregate Redemption Amounts to be paid by the Company to the Holders,
         (ii) each Holder's pro rata share of each Redemption Amount paid on
         such Redemption Date and (iii) for each series of such Holder's Notes
         (A) the principal balance of Notes being redeemed, (B) the additional
         amount being paid and (C) the principal balance remaining after such
         payment. In the event that the Company fails to provide each Holder
         with the requisite written notice (in the form of Exhibit A) prior to
         or on the fifth (5th) Business Day prior to any Redemption Date, such
         failure shall be deemed to be constructive notice by the Company to all
         Holders that the Company has elected not to redeem the portion of the
         Notes corresponding to such Redemption Date (each, a "NOTICE FAILURE").

                           ii.      Payment of Redemption Amount. On or prior to
         the applicable Redemption Date, if the Company has properly elected to
         redeem a portion of the Notes in accordance with Section 1(b) above,
         the Company shall pay to each Holder such Holder's portion of the
         applicable Redemption Amount (as set forth on Schedule 1) and any
         Redemption Amount corresponding to any previous Redemption Date (as set
         forth on Schedule 1) on which the Company failed to pay the applicable
         Redemption Amount or on which the Company did not previously elect to
         redeem. If the Company has properly elected to redeem a portion of the
         Notes and the Company fails to make full payment of the aggregate
         Redemption Amounts payable on the applicable Redemption Date, then (i)
         the Company shall pay to the Holders, on a pro rata basis (determined
         by dividing the outstanding principal balance of all Notes held by such
         Holder by the outstanding principal balance of all Notes held by all
         Holders), on the Redemption Date any funds that the Company reasonably
         determines are available, (ii) the Company shall use its best efforts
         to promptly pay to the Holders any due but unpaid Redemption Amount and
         (iii) the provisions of Section 1(c) below shall be applicable.

                           iii.     Disputes; Miscellaneous. In the event of a
         dispute as to any determination or calculation described in this
         Agreement, the applicable Holders and the Company shall use their best
         efforts to resolve such dispute within three (3) Business Days. If such
         Holders and the Company are unable to resolve such dispute within three
         (3) Business Days, then the Company shall within two (2) Business Days
         submit each of their calculations to an independent, reputable
         accounting firm selected by such Holders and consented to by the
         Company (such consent not to be unreasonably withheld). The Company
         shall use its

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         reasonable best efforts to cause the accountant to perform the
         determinations or calculations and notify the Company and the Holders
         of the results no later than the fifth (5th) Business Day after the
         date it receives the disputed determinations or calculations. Such
         accountant's determination or calculation shall be binding upon such
         parties absent manifest error. The Company shall be liable for all
         costs and expenses related to such determination or calculation if (A)
         the absolute value of the difference between (1) the accountant's
         determination or calculation and (2) the Company's determination or
         calculation is equal to or greater than (B) the absolute value of the
         difference between (1) the accountant's determination or calculation
         and (2) the applicable Holder's determination or calculation;
         otherwise, such costs and expenses shall be paid by such Holder.

                           iv.      General Payment Provisions. All payments
         made by the Company under this Agreement shall be made in lawful money
         of the United States of America by wire transfer of immediately
         available funds to such accounts as the Holders may from time to time
         designate by written notice to the Company in accordance with the
         provisions of the applicable Notes. Whenever any amount expressed to be
         due by the terms of this Agreement is due on any day which is not a
         Business Day, the same shall instead be due on the next succeeding day
         which is a Business Day. For purposes of this Agreement, "BUSINESS DAY"
         shall mean any day in which the Nasdaq National Market is open for
         business.

                  c.       Redemption Failure. In the event that (i) the Company
         fails to make full payment of any Redemption Amount by the applicable
         Redemption Date or (ii) the Company materially breaches any
         representation, warranty, covenant or other term or condition of this
         Agreement or any Note, including without limitation the failure to pay
         fully when due any accrued but unpaid interest on any Note or (iii) a
         Notice Failure has occurred (each, a "REDEMPTION FAILURE"), then during
         the period commencing on the Business Day on which such Redemption
         Failure occurred and ending on the Business Day on which the Company
         fully cures such Redemption Failure (and for purposes of this Agreement
         in the event that the Company has caused a Notice Failure, the Company
         may only cure such Notice Failure by providing proper written notice
         (in the form of Exhibit A) to each Holder for a subsequent Redemption
         Date pursuant to the requirements set forth in Section 1(b)) (a
         "REDEMPTION FAILURE PERIOD") the additional conversion restrictions and
         conversion limitations described in Section 3(b)(i) below shall not be
         applicable to any of the Holders or Notes and shall be of no force and
         effect. Notwithstanding anything herein to the contrary, a Redemption
         Failure (other than a violation of any Note which constitutes an Event
         of Default, as such term is defined in the Notes) does not constitute
         an Event of Default, as such term is defined in the Notes.

         2.       REPRESENTATIONS AND WARRANTIES.

                  a.       Organization and Qualification. The Company is a
         corporation duly organized and validly existing in good standing under
         the laws of the jurisdiction in which it is incorporated, and has the
         requisite corporate power and authorization to own its properties and
         to carry on its business as now being conducted.

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                  b.       Authorization; Enforcement; Validity. (i) The Company
         has the requisite corporate power and authority to enter into and
         perform this Agreement, (ii) the execution and delivery of this
         Agreement by the Company, and the consummation by the Company of the
         transactions contemplated hereby, have been duly authorized by the
         Company's Board of Directors and, with the exception of GMAC Commercial
         Credit LLC, no further consent or authorization is required by the
         Company, its Board of Directors or its shareholders, (iii) this
         Agreement has been duly executed and delivered by the Company, and (iv)
         this Agreement constitutes the valid and binding obligations of the
         Company enforceable against the Company in accordance with its terms,
         except as such enforceability may be limited by general principles of
         equity or applicable bankruptcy, insolvency, reorganization,
         moratorium, liquidation or similar laws relating to, or affecting
         generally, the enforcement of creditors' rights and remedies.

                  c.       No Conflicts. The execution, delivery and performance
         of this Agreement by the Company, the performance by the Company of its
         obligations under this Agreement and the consummation by the Company of
         the transactions contemplated hereby will not (i) result in a violation
         of the Company's Articles of Incorporation, any outstanding series of
         notes or preferred stock of the Company or the Company's By-laws or
         (ii) conflict with, or constitute a default (or an event which with
         notice or lapse of time or both would become a default) under, or give
         to others any rights of termination, amendment, acceleration or
         cancellation of, any material agreement, indenture or instrument to
         which the Company is a party, or result in a violation of any law,
         rule, regulation, order, judgment or decree (including federal and
         state securities laws) applicable to the Company or by which any
         property or asset of the Company is bound or affected, except in the
         case of (ii) above where such conflict or default would not have a
         Material Adverse Effect. As used in this Agreement "MATERIAL ADVERSE
         EFFECT" means any material adverse effect on the business, properties,
         assets, operations, results of operations or financial condition of the
         Company, taken as a whole. The Company is not in violation of any term
         of or in default under its Articles of Incorporation, any outstanding
         series of notes or preferred stock of the Company or By-laws. The
         Company is not in violation of any term of or in default under any
         contract, agreement, mortgage, indebtedness, indenture, instrument,
         judgment, decree or order or any statute, rule or regulation applicable
         to the Company, except for possible violations or defaults which would
         not have a Material Adverse Effect. The business of the Company is not
         being conducted, and shall not be conducted, in violation of any law,
         ordinance, regulation of any governmental entity, except for possible
         violations of the sections for which either individually or in the
         aggregate would not have a Material Adverse Effect. Except as
         specifically contemplated by this Agreement and as required under the
         Securities Act of 1933, as amended, the Company is not required to
         obtain any consent, authorization or order of, or make any filing or
         registration with, any court or governmental agency or any regulatory
         or self-regulatory agency in order for it to execute, deliver or
         perform any of its obligations under or contemplated by this Agreement.

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                  d.       No Undisclosed Events, Liabilities, Developments or
         Circumstances. No event, liability, development or circumstance has
         occurred or exists, or is contemplated to occur, with respect to the
         Company or its business, properties, prospects, operations or financial
         condition, that would be required to be disclosed by the Company under
         applicable federal and state securities laws on a registration
         statement filed with the Securities and Exchange Commission relating to
         an issuance and sale by the Company of its common stock and which has
         not publicly been announced.

         3.       COVENANTS.

                  a.       Company Covenants.

                           i.       Filing of Form 8-K. Within fifteen (15)
         calendar days following the Effective Date, the Company shall file a
         Form 8-K with the United States Securities and Exchange Commission
         describing the terms of the transactions contemplated by this Agreement
         in the form required by the Securities Exchange Act of 1934 Act, as
         amended.

                           ii.      Best Efforts. The Company shall use its best
         efforts timely to satisfy each of the conditions to be satisfied by it
         as provided in Sections 4 of this Agreement.

                  b.       Holder Covenants.

                           i.       Additional Conversion Limitation. In
         addition to any conversion limitations or conversion restrictions set
         forth in each of the Holder's Notes, effective as of and from the
         Business Day immediately following the Effective Date up to and through
         the last Redemption Date under this Agreement (as set forth on Schedule
         1), each Holder agrees, unless such Holder has received the prior
         consent of the Company, not to convert any part of the outstanding and
         unpaid principal balance of such Holder's Notes into fully paid and
         nonassessable shares of Company common stock; provided, however, that
         during any Redemption Failure Period, the additional conversion
         limitations described in this Section 3(b)(i) shall not be applicable
         to any of the Holders or Notes and, during such Redemption Failure
         Period, the Holders may convert their Notes in accordance with the
         terms and provisions of such Notes (as amended by any written
         contractual arrangements between the Company and the applicable Holder)
         without regard to any conversion limitation described in this Section
         3(b)(i).

         4.       CONDITIONS TO HOLDER'S OBLIGATIONS. The obligations of each
Holder as described in this Agreement are subject to the satisfaction, at or
before the Effective Date, of each of the following conditions, provided that
these conditions are for each Holder's sole benefit and may be waived by such
Holder at any time in its sole discretion by providing the Company with prior
written notice thereof:

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                  a.       The Company shall have executed this Agreement and
         delivered the same to Holders' nominee;

                  b.       The representations and warranties of the Company
         shall be true and correct as of the date when made and as of the
         Effective Date as though made at that time and the Company shall have
         performed, satisfied and complied with the covenants, and agreements
         required by this Agreement to be performed, satisfied or complied with
         by the Company at or prior to the Effective Date;

                  c.       On the Effective Date, the Company shall have paid
         the first Redemption Amount to the Holders in the manner satisfactory
         to the Holders;

                  d.       On the Effective Date, the Company shall reimburse
         the Holders for the Holders' costs and expenses, including without
         limitation attorneys' fees and expenses (in an amount not to exceed
         $5,000) incurred by the Holders concerning the due diligence review of
         the contemplated transactions and the Company, and the negotiation and
         preparation of documentation and the consummation of the transactions
         contemplated thereby; and

                  e.       The Company shall have delivered to the Holders'
         nominee such other documents relating to the transactions contemplated
         by this Agreement as the Holders may reasonably request.

         5.       MISCELLANEOUS.

                  a.       No Limitation on Other Rights. Except as set forth in
         Section 3(b)(i) above, the Holders do not waive any other rights or
         remedies available to the Holders under the Notes. Interest on the
         unpaid principal balance of the Notes and Default Interest, if any,
         shall accrue and shall be paid in accordance with the terms and
         provisions of the Notes. (The parties acknowledge, assuming that the
         Company timely pays all Redemption Amounts set forth on Schedule 1 to
         the Holders, that Schedule 3 sets forth the interest payments and
         interest payment dates required to be paid by the Company to the
         Holders pursuant to the applicable Notes.) The rights and remedies
         provided in this Agreement shall be cumulative and in addition to all
         other rights and remedies available under the Notes, at law or in
         equity, and no remedy contained herein shall be deemed a waiver of
         compliance with the provisions giving rise to such remedy and nothing
         herein shall limit a Holder's right to pursue actual damages for any
         failure by the Company to comply with the terms of this Agreement.

                  b.       Reorganization, Reclassification, Consolidation,
         Merger or Sale. Any recapitalization, reorganization, reclassification,
         spin-off, distribution of securities of any Company subsidiary,
         consolidation, merger, acquisition, business combination, purchase,
         tender or exchange offer made to and accepted by the holders of more
         than fifty percent

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         (50%) of the outstanding shares of the Company's common stock, sale of
         all or substantially all of the Company's assets to another person or
         entity, or any other transaction which is effected in such a way that
         holders of Company common stock are entitled to receive (either
         directly or upon subsequent liquidation) stock, securities or assets
         with respect to or in exchange for Company common stock is referred to
         herein as "ORGANIC CHANGE." Prior to the consummation of any Organic
         Change following which the Company is not a surviving entity, the
         Company will secure from the person or entity purchasing such assets or
         Company common stock or the successor resulting from such Organic
         Change a written agreement (in form and substance satisfactory to
         Holders of a majority of the outstanding principal balance of the
         Notes) to assume all obligations and duties of the Company contained in
         this Agreement.

                  c.       Indemnification. In consideration of each Holder's
         execution and delivery of this Agreement and in addition to all of the
         Company's other obligations under this Agreement, the Company shall
         defend, protect, indemnify and hold harmless each Holder and all of
         their shareholders, officers, directors, employees and direct or
         indirect investors and any of the foregoing person's agents or other
         representatives (including, without limitation, those retained in
         connection with the transactions contemplated by this Agreement)
         (collectively, the "INDEMNITEES") from and against any and all actions,
         causes of action, suits, claims, losses, costs, penalties, fees,
         liabilities and damages, and expenses in connection therewith
         (irrespective of whether any such Indemnitee is a party to the action
         for which indemnification hereunder is sought), and including
         reasonable attorneys' fees and disbursements (the "INDEMNIFIED
         LIABILITIES"), incurred by any Indemnitee as a result of, or arising
         out of, or relating to (a) any material misrepresentation or breach of
         any representation or warranty made by the Company in this Agreement or
         any other certificate, instrument or document contemplated hereby or
         thereby or (b) any material breach of any covenant, agreement or
         obligation of the Company contained in this Agreement or any other
         certificate, instrument or document contemplated hereby or thereby. To
         the extent that the foregoing undertaking by the Company may be
         unenforceable for any reason, the Company shall make the maximum
         contribution to the payment and satisfaction of each of the Indemnified
         Liabilities which is permissible under applicable law.

                  d.       Payment of Collection, Enforcement and Other Costs.
         If (i) this Agreement and applicable Notes are placed in the hands of
         an attorney for collection or enforcement or is collected or enforced
         through any legal proceeding, (ii) an attorney is retained to represent
         a Holder in any bankruptcy, reorganization, receivership or other
         proceedings affecting creditors' rights and involving a claim under
         this Agreement, or (iii) an attorney is retained to represent a Holder
         in connection with any proceeding against the Holder for breach of
         fiduciary duty in connection with this Agreement, then the Company
         shall pay to the Holder all reasonable attorneys' fees, costs and
         expenses incurred in connection therewith, in addition to all other
         amounts due hereunder.

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                  e.       Restriction on Redemption and Dividends. Until all of
         the Company's payment obligations have been fully satisfied as provided
         herein, the Company shall not, directly or indirectly, redeem, or
         declare or pay any dividend (whether in cash, stock or other property
         or in connection with any spin off) or distribution on, its capital
         stock without the prior express written consent of Holders of not less
         than two-thirds (2/3) of the outstanding principal balance of the
         Notes. In the event the Holders consent to such redemption, dividend or
         distribution, then the Holders on the record date for such redemption,
         dividend or distribution shall be entitled to receive on the date of
         redemption, payment or distribution of such dividend or other
         distribution the amount of cash or property equal to the cash or
         property which would be received by the Holders in the event the
         Holders owned the number of shares of Company common stock into which
         the Notes would be convertible pursuant to the terms of the Notes
         immediately prior to such record date without regard to any conversion
         limitations or conversion restrictions included in this Agreement or
         the applicable Notes.

                  f.       No Amendment of Notes. This Agreement shall not be
         construed in any manner as an amendment or modification to the terms
         and provisions of the Notes.

                  g.       Incorporation of Recitals. The recitals portion of
         this Agreement is expressly incorporated into and made a part of this
         Agreement.

                  h.       Governing Law. This Agreement shall be construed and
         enforced in accordance with, and all questions concerning the
         construction, validity, interpretation and performance of this
         Agreement shall be governed by, the laws of the State of Florida,
         without giving effect to provisions thereof regarding conflict of laws.
         Each party hereby irrevocably submits to the non-exclusive jurisdiction
         of the state and federal courts sitting in the City of Miami, for the
         adjudication of any dispute hereunder or in connection herewith or with
         any transaction contemplated hereby or discussed herein, and hereby
         irrevocably waives, and agrees not to assert in any suit, action or
         proceeding, any claim that it is not personally subject to the
         jurisdiction of any such court, that such suit, action or proceeding is
         brought in an inconvenient forum or that the venue of such suit, action
         or proceeding is improper. Each party hereby irrevocably waives
         personal service of process and consents to process being served in any
         such suit, action or proceeding by mailing a copy thereof to such party
         at the address for such notices to it under this Agreement and agrees
         that such service shall constitute good and sufficient service of
         process and notice thereof. Nothing contained herein shall be deemed to
         limit in any way any right to serve process in any manner permitted by
         law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND
         AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
         HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR
         ANY TRANSACTION CONTEMPLATED HEREBY.

                  i.       Specific Shall Not Limit General; Construction. No
         specific provision contained in this Agreement shall limit or modify
         any more general provision contained herein.

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         This Agreement shall be deemed to be jointly drafted by the Company and
         all Holders and shall not be construed against any person as the
         drafter hereof.

                  j.       Failure or Indulgence Not Waiver. No failure or delay
         on the part of any Holder in the exercise of any power, right or
         privilege hereunder shall operate as a waiver thereof, nor shall any
         single or partial exercise of any such power, right or privilege
         preclude other or further exercise thereof or of any other right, power
         or privilege.

                  k.       Counterparts. This Agreement may be executed in two
         or more identical counterparts, all of which shall be considered one
         and the same agreement and shall become effective when counterparts
         have been signed by each party and delivered to the other party;
         provided that a facsimile signature shall be considered due execution
         and shall be binding upon the signatory thereto with the same force and
         effect as if the signature were an original, not a facsimile signature.

                  l.       Headings. The headings of this Agreement are for
         convenience of reference and shall not form part of, or affect the
         interpretation of, this Agreement.

                  m.       Severability. If any provision of this Agreement
         shall be invalid or unenforceable in any jurisdiction, such invalidity
         or unenforceability shall not affect the validity or enforceability of
         the remainder of this Agreement in that jurisdiction or the validity or
         enforceability of any provision of this Agreement in any other
         jurisdiction.

                  n.       Entire Agreement; Amendments. This Agreement
         supersedes all other prior oral agreements between the Holders, the
         Company, their affiliates and persons acting on their behalf with
         respect to the matters discussed herein, and this Agreement and the
         instruments referenced herein contain the entire understanding of the
         parties with respect to the matters covered herein and therein and,
         except as specifically set forth herein or therein, neither the Company
         nor any Holder makes any representation, warranty, covenant or
         undertaking with respect to such matters. No provision of this
         Agreement may be amended other than by an instrument in writing signed
         by the Company and Holders of at least two-thirds (2/3) of the
         outstanding principal balance of the Notes, and no provision hereof may
         be waived other than by an instrument in writing signed by the party
         against whom enforcement is sought.

                  o.       Notices. Any notices, consents, waivers or other
         communications required or permitted to be given under the terms of
         this Agreement must be in writing and will be deemed to have been
         delivered: (i) upon receipt, when delivered personally; (ii) upon
         receipt, when sent by facsimile (provided confirmation of transmission
         is mechanically or electronically generated and kept on file by the
         sending party); or (iii) one (1) Business Day after deposit with a
         nationally recognized overnight delivery service, in each case properly
         addressed to the party to receive the same. The addresses and facsimile
         numbers for such communications shall be the same as the information
         included in the transaction documents concerning the Notes.

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                  p.       Successors and Assigns. This Agreement shall be
         binding upon and inure to the benefit of the parties and their
         respective successors and assigns, including any purchasers of the
         Notes. The Company shall not assign this Agreement or any rights or
         obligations hereunder without the prior written consent of Holders of
         at least two-thirds (2/3) of the outstanding principal balance of the
         Notes. A Holder may assign some or all of its rights hereunder without
         the consent of the Company, provided, however, that any such assignment
         shall not release such Holder from its obligations hereunder unless
         such obligations are assumed by such assignee and the Company has
         consented to such assignment and assumption.

                  q.       No Third Party Beneficiaries. This Agreement is
         intended for the benefit of the parties hereto and their respective
         permitted successors and assigns, and is not for the benefit of, nor
         may any provision hereof be enforced by, any other person.

                  r.       Survival. The agreements and covenants set forth in
         Sections 1, 3 and 5 shall survive the Effective Date. Each Holder shall
         be responsible only for its own representations, warranties, agreements
         and covenants hereunder.

                  s.       Further Assurances. Each party shall do and perform,
         or cause to be done and performed, all such further acts and things,
         and shall execute and deliver all such other agreements, certificates,
         instruments and documents, as the other party may reasonably request in
         order to carry out the intent and accomplish the purposes of this
         Agreement and the consummation of the transactions contemplated hereby.

                  t.       Payment Set Aside. To the extent that the Company
         makes a payment or payments to the Holders hereunder, and such payment
         or payments or the proceeds of such enforcement or exercise or any part
         thereof are subsequently invalidated, declared to be fraudulent or
         preferential, set aside, recovered from, disgorged by or are required
         to be refunded, repaid or otherwise restored to the Company, a trustee,
         receiver or any other person under any law (including, without
         limitation, any bankruptcy law, state or federal law, common law or
         equitable cause of action), then to the extent of any such restoration
         the obligation or part thereof originally intended to be satisfied
         shall be revived and continued in full force and effect as if such
         payment had not been made or such enforcement or setoff had not
         occurred.

                  u.       Termination. Except for the terms and provisions of
         Sections 1, 5(c) and 5(d), the terms and provisions of this Agreement
         shall terminate on the first (1st) Business Day following the last
         Redemption Date under this Agreement (as set forth on Schedule 1).

                          ***SIGNATURE PAGES FOLLOW***

                                       10
<PAGE>

         IN WITNESS WHEREOF, the Holders and the Company have caused this
Convertible Note Redemption Option Agreement to be duly executed as of the
Effective Date.

COMPANY:                                    HOLDERS OF CONVERTIBLE NOTES:

E COM VENTURES, INC.                        SERIES C CONVERTIBLE NOTE HOLDERS:

By:                                         CRANSHIRE CAPITAL, L.P.
   --------------------------------
Name:                                       By:  Downsview Capital, Inc.,
     ------------------------------              the General Partner
Title:
      -----------------------------

                                                 By:
                                                    ----------------------------
                                                 Name:    Mitchell P. Kopin
                                                 Title:   President

                                            S. ROBERT PRODUCTIONS, LLC

                                            By:
                                               ---------------------------------
                                            Name:
                                                 -------------------------------
                                            Title:
                                                  ------------------------------

                                            RICE OPPORTUNITY FUND, LLC

                                            By:
                                               ---------------------------------
                                            Name:
                                                 -------------------------------
                                            Title:
                                                  ------------------------------

                         ***SIGNATURE PAGE CONTINUES***

                                       11
<PAGE>

                                             SERIES D CONVERTIBLE NOTE HOLDERS:

                                             CRANSHIRE CAPITAL, L.P.
                                             By:      Downsview Capital, Inc.,
                                                      the General Partner

                                                      By:
                                                         -----------------------
                                                      Name:  Mitchell P. Kopin
                                                      Title: President

                                             EURAM CAP STRAT. "A" FUND LIMITED

                                             By:
                                                --------------------------------
                                             Name:
                                                  ------------------------------
                                             Title:
                                                   -----------------------------

                                             RICE OPPORTUNITY FUND, LLC

                                             By:
                                                --------------------------------
                                             Name:
                                                  ------------------------------
                                             Title:
                                                   -----------------------------

                       ***CONCLUSION OF SIGNATURE PAGES**

                                       12

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