Document:

EXHIBIT 10.3

                         EXECUTIVE EMPLOYMENT AGREEMENT

         This agreement  ("Agreement") is made effective March 4, 1998,  between
OnLine  Entertainment,  Inc. ("ONLN" or the "Company') and Kris M. Budinger (the
"Executive').

         In  consideration  of the  mutual  benefits  and  obligations  in  this
Agreement,  and  intending  to be legally  bound,  ONLN and  Executive  agree as
follows:

         1.       OFFICE AND DUTIES

         a. Executive shall be employed as follows: (i) by ONLN as its President
and Chief Operating  Officer;  (ii) as President and Chief Operating  Officer of
Glitch Master  Marketing,  Inc. ("GMM"),  a subsidiary  corporation of ONLN; and
(iii) and as President and Chief Operating of Officer OnLine Power Supply,  Inc.
("OPS"),  a subsidiary  corporation of ONLN. The Executive shall have the duties
specified in the Bylaws of the respective  companies,  and such duties as may be
lawfully assigned by the respective Boards of Directors from time to time.

         b. Executive agrees to devote  substantially all of his time and energy
to the performance of the duties of those positions so long as his employment in
such position shall be continued by ONLN or its successors.  Notwithstanding the
above,  Executive shall be permitted to have interests in other business that do
not compete with the Company or its  subsidiaries,  and may render  services for
such other business interests,  provided such service does not prevent Executive
from performing his duties under this Agreement.

         c. The Company  agrees to nominate  Executive for election to the Board
at each annual  meeting of  stockholders  of the Company  during his  employment
hereunder,  or at which his  class,  if such class is  designated,  comes up for
election, and shall perform likewise for election to the Board of GMM and OPS.

         2.       TERM OF EMPLOYMENT

         a. ONLN shall employ  Executive and Executive  accepts such  employment
for a term  beginning on the date of this  Agreement  and ending March 31, 2003,
upon the terms and conditions set forth in this Agreement.

         b. Notwithstanding the foregoing,  if the Agreement shall not have been
terminated in accordance with the provisions herein on or before March 31, 2003,
the  remaining  term of the  Agreement  shall be extended  such that at each and
every moment of time  thereafter,  the remaining term shall be five years unless
(i) the  Agreement  is  terminated  earlier in  accordance  with the  provisions
herein, or (ii) on or after September 30, 2002, the Board of Directors  notifies
Executive  in writing of its  determination  to have the date of this  Agreement
expire six months from the date of such notification.

         c. So long as Executive continues employment with at least one of ONLN,
GMM, or OPS, the  termination of services by Executive for any one of ONLN, GMM,
or OPS: (i) shall not be deemed a  termination  of services for any other of the
respective  companies  unless otherwise  specifically set forth in writing;  and
(ii) shall not reduce the compensation to Executive under this Agreement.

                                       101

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Executive Employment Agreement
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         3.       DEFINITIONS

         For  purposes of this  Agreement,  the  following  terms shall have the
meaning set forth in this paragraph:

         a.       "Base Compensation" shall  mean an  amount  per annum equal to
the sum of:

                  (i) the annual base salary in effect for Executive immediately
preceding termination of employment (excluding any reduction in base salary made
in breach of this Agreement);

                  (ii) an amount  equal to the average of the cash  bonuses paid
to Executive  over the three most  recently  completed  calendar  years prior to
termination  (including any bonus amounts  deferred by Executive  under any ONLN
deferred compensation plan or arrangement);

                  (iii) continued  participation  in all basic and  supplemental
life,  accident,  disability,  and other  Company-sponsored  insurance  benefits
provided to  Executive  immediately  preceding  termination  (or,  if  continued
participation  in one or  more  of  these  benefits  is not  possible,  benefits
substantially similar to those which Executive would have been entitled to if he
had  continued as an employee of the Company at the same  compensation  level in
effect immediately prior to termination); and

                  (iv)  continuance  of vesting  and benefit  accrual  under any
Company-sponsored  retirement programs in effect for Executive immediately prior
to termination (or, if continued participation in such programs is not possible,
benefits substantially similar to those which executive would have been entitled
to if he had  continued  as an employee of the Company at the same  compensation
level immediately prior to termination).

         b.       "Board " means the Board of Directors of the Company.

         c.  "Cause"  shall mean (i) willful  refusal by  Executive  to follow a
lawful  written  demand of the Board,  (ii)  Executive's  willful and  continued
failure to perform his duties under this  Agreement  (except due to  Executive's
incapacity  due to  physical  or  mental  illness)  after a  written  demand  is
delivered to Executive by the Board specifically identifying the manner in which
the Board  believes  that  Executive  has failed to perform  his  duties,  (iii)
Executive's  willful engagement in conduct materially  injurious to the Company,
or (iv) Executive's  conviction for any felony  involving moral  turpitude.  For
purpose of clauses (i), (ii) or (iii) of this definition,  no act, or failure to
act on Executive's  part shall be deemed "willful" unless done, or omitted to be
done,  by  Executive  not in good  faith  and  without  reasonable  belief  that
Executive's act was in the best interests of the Company.

         d.  "Constructive   Termination"   shall  mean  Executive's   voluntary
termination  of employment  within ninety (90) days  following the occurrence of
one or more of the following events, unless such event is approved in writing by
Executive in advance of such event:

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                  (i) A  failure  by the  Company  to  abide by any part of this
Agreement that is not remedied  within ten (10) business days of notification by
Executive of such  failure,  including any  violation of  Executive's  rights as
described  in this  Agreement  unless  such rights are  replaced by  alternative
rights of approximately equal value;

                  (ii) A  reduction  in  Executive's  title or  responsibilities
below the positions specified in paragraph 1 of this Agreement; or

                  (iii) A relocation  of  Executive's  primary place of business
more than fifty (50) miles from its location as of the date of this Agreement.

         e. "Disability" shall be deemed to have occurred if Executive is unable
to substantially  perform the normal duties of his position with the Company, or
if  the  Executive  makes   application   for  disability   benefits  under  any
Company-sponsored  long-term disability program covering Executive and qualifies
for such benefits.

         f. "Retirement" shall mean Executive's  termination of service with the
Company at any time after 12 months from the date of this Agreement.

         4.       COMPENSATION

         For all  services  rendered  by the  Executive  in any  capacity to the
Company or any subsidiary or successor  during the term of this  Agreement,  the
Executive shall be compensated as follows:

         a. Base  Salary.  The minimum  annual base salary  payable to Executive
upon commencement of this Agreement shall be $72,000. The Board or its Executive
Compensation  Committee  of the Board (if one is  designated)  will  review  the
Executive's  base  salary  at least  annually  to  determine  the  amount of any
increase. Upon any such increase in Executive's base salary, such increased rate
shall  hereafter  constitute  Executive's  minimum  annual  base  salary for all
purposes of this  Agreement,  except  that the  Company  may reduce  Executive's
annual base Salary during any year by not more than 10% below the base salary in
effect at the  beginning  of the year as part of any  general  salary  reduction
which applies to all officers of the Company and its subsidiaries (if any).

         b.       Incentive Options.

                  (i) In recognition of the considerable  challenges accepted by
him,  Executive  shall receive an Incentive  Bonus  consisting of a stock option
grant to purchase  500,000 shares of the Company's common stock fully vested and
priced at $.0001 per share.  The Incentive  Options shall expire five years from
the date of this Agreement unless earlier exercised.

                  (ii) In addition  Executive shall receive a stock option grant
of 500,000 shares of the Company's  common stock priced at $.0001 per share, and
vesting in accordance  with the appropriate  portions of the  Performance  Bonus
schedule specified below (the "Performance  Options').  The Performance  Options
that  become  vested  shall  expire  five years from the date of this  Agreement
unless earlier exercised.

                                       103

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                  (iii) In case of any  merger in which the  Company  is not the
surviving entity,  reclassification,  capital  reorganization or other change of
outstanding  shares of the securities of the Company (other than a change in par
value,  or from par value to no par value,  or from no par value to par  value),
the Company  shall cause  effective  provision to be made so that the  Executive
shall have the right  thereafter,  by exercising  Incentive Options specified in
paragraph  4b(i) and all  Performance  Options that are vested,  to purchase the
kind and amount of shares of securities and property  receivable by the security
holders  upon such merger,  reclassification,  capital  reorganization  or other
change.

         c.  Performance  Bonus.  In order to promote  goals  that may  increase
shareholder value, the Executive shall,  subject to sub paragraphs (i) and (ii),
below, be eligible to receive Performance Bonuses as follows:

         (i)      For the Company's fiscal year ending December 30, 1998:

                  (A)  fifty  percent  of base  salary if the  Company  achieves
consolidated net income for the fiscal year ending December, 1998 of one hundred
thousand dollars ($100,000) or more.

                  (B)  Executive  shall  receive  an  additional  bonus of fifty
percent of base  salary if the average of the closing bid and ask prices of ONLN
common stock for the last 20 business days ending  December 31, 1998 as reported
on the Company's primary market or trading forum, is equal to or exceeds $6.00.

                  (C) Further,  if the consolidated gross revenue of the Company
for the fiscal year ending  December,  1998 exceeds  $1,200,000,  the  Executive
shall receive an additional bonus equal to five percent of the amount of revenue
which exceeds $1,200,000.

         (ii) For the  Company's  fiscal  years  ending  September  30, 1999 and
later:

                  (A) An amount  equal to fifty  percent  of base  salary if the
average of the closing  bid and ask prices of ONLN common  stock for the last 20
business  days ending  December  31, 1998 as reported on the  Company's  primary
market or trading forum, exceeds the previous year's 20 business day average for
the same period by 51 % or more.

                  (B) Further, if the audited  consolidated gross revenue of the
Company  exceeds  $3,000,000 by December 30, 1999, the Executive shall be deemed
vested in 35 percent of the Performance  Options;  if in excess of $6,000,000 by
December  30,  2000,  he will be  vested  in an  additional  35  percent  of the
Performance  Options,  and if in excess of  $9,000,000  by December 30, 2001, he
will be vested in the remaining 30% of the Performance  Options. The Performance
Options  will  vest  at  the  earliest  fiscal  year  in  which  the  respective
consolidated  gross  revenue  requirements  are achieved.  Therefore,  by way of
example,  it is possible for all the Performance  Options to vest based upon the
first  measuring  period  if  all  the  respective  consolidated  gross  revenue
requirements are met in the first measuring period. The Performance Options that
do not vest are forfeited.

                                       104

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         (iii)  Each cash  Performance  Bonus  shall be  payable  either 30 days
following the date Company's audited  consolidated  financial statements for the
fiscal year become  available  or on March 15  following  the end of that fiscal
year, whichever is later (the "Bonus Payment Date").

         (iv) In the event that there shall be a combination of the Company with
another  company,  or any other  occurrence  similar to a combination,  and as a
result  thereof  the  Executive  does not  continue  his  employment  under this
Agreement,  or this  Agreement is not accepted  and  continued by the  surviving
entity, then the Executive shall be fully vested in all Performance Options.

         (v)  Executive  shall be entitled to receive the bonus  provided for in
the  foregoing  paragraphs  for each  fiscal  year  during  which he is employed
hereunder and, in addition,  for the next eighteen (18) months after termination
of his employment:  provided,  that said post-  termination bonus coverage shall
only  extend for  twelve  (12)  months  after  termination  if  Executive  takes
employment  with  another  company  in the  same  industry  as ONLN or any  ONLN
subsidiary  within  twelve  (12) months of  termination,  and shall not apply if
Executive has been discharged for cause.

         (vi)  Bonus  payments  shall  be in cash or a  combination  of cash and
Restricted Stock or stock options at the discretion of the Executive.

         (vii)  In all  cases  where a bonus is based  upon the  average  of the
closing bid and ask prices for ONLN common  stock,  the  average  daily  trading
volume for the 20 day  measuring  period must be at least 10,000 shares in order
to qualify for the bonus.

         d. Registration of Performance and Incentive Stock Options. The Company
agrees  to file a  registration  statement  with  the  Securities  and  Exchange
Commission to register the public sale of the ONLN common stock  underlying  the
performance and incentive stock options granted under this Agreement,  within 90
days of the vesting of the first Performance Bonus option.

         e.  Vacation.  Executive  shall  receive five (5) weeks of vacation per
year.

         f.  Automobile  Allowance.  Executive  shall  receive an  unaccountable
automobile allowance of $500.00 per month.

         g. Benefit  Plans.  Executive  shall be entitled to  participate in all
perquisites  and  health  and  welfare  benefits  generally  available  to other
executive officers and employees of the Company.  Executive shall participate in
any key executive  long-term  incentive program or other executive bonus program
which the Board or its Executive Compensation Committee (if any) may define.

         h. Reimbursement.  Reimbursement of all reasonable expenses incurred by
Executive  in  connection  with  performance  of his duties upon  submission  of
vouchers,  subject to such  guidelines and policies as may be promulgated by the
Company for senior executives or employees.

         i. Life Insurance. In addition to any coverage required by the Company,
Executive  shall be  provided  with a life  insurance  policy  in the  amount of
$250,000  (provided  he can  meet the  medical  conditions  for such  coverage),
payable to such beneficiaries as he shall designate.

                                       105

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         5.       EXECUTIVE's RIGHTS UPON TERMINATION

         a. In the event that  Executive's  employment at ONLN is terminated for
any reason other than (i) Death,  (ii) Disability,  (iii) Cause,  (iv) voluntary
resignation by Executive not constituting Constructive  Termination,  or (v) the
expiration  of the  term of his  Agreement,  ONLN  will  pay to  Executive  Base
Compensation  for a period  continuing five years after the date of termination.
In addition,  ONLN will fully vest all stock options and restricted stock awards
previously  granted by ONLN to Executive and fully vest and  immediately  pay to
Executive  any accrued  award earned by Executive  under the  Performance  Bonus
Plan(s),  above, or any other ONLN Executive  incentive plans which may exist at
the time of termination and in which the Executive is a participant.

         b. In the event the  Executive's  employment at ONLN is terminated  for
Death,  Disability,  Cause, voluntary resignation not constituting  Constructive
Termination,  or upon expiration of the term of this Agreement,  Executive shall
be  entitled  to all  benefits  under this  Agreement,  including  base  salary,
performance  and  incentive  bonuses for eighteen  (18) months after such event.
Stock options vested to date of termination  may be exercised at any time during
the eighteen (18) months period  following  termination  and may be exercised by
the  estate of the  Executive  in the event of his  death  during  the same time
period.

         c. Should the Executive  exercise his option to terminate his Executive
Employment voluntarily for Constructive Termination,  the Company shall continue
to employ the Executive as an advisor and consultant  ("Consulting  Employment")
for a period of five  years.  During the period of  Consulting  Employment,  the
Executive  shall at reasonable  times but not full time, be available to consult
with and advise the Company's officers, directors,  representatives and clients.
Executive shall be entitled to all benefits under this Agreement, including base
salary,  performance  and  incentive  bonuses  during  the  term  of  Consulting
Employment.  Stock options  vested to date of  Constructive  Termination  may be
exercised  at any time during the period of  Consulting  Employment.  During the
period of Consulting  Employment,  the Executive shall be permitted to engage in
any business so long as such business  practice is not in  competition  with the
Company.

         d.  Base  Compensation  payments  shall  be made  when  payments  would
otherwise have been made to Executive if he were still employed by ONLN,  except
in such cases  where a  different  payment  schedule  is  provided  for in other
Company-sponsored plans or programs.

         e. In the event of  termination  of  employment  of  Executive  for any
reason,  the Company shall  immediately  release the  Executive,  and obtain the
release of the Executive by third parties,  from any and all personal guarantees
and other credit  obligations the Executive has incurred or undertaken on behalf
of the Company or any subsidiary.

         6.       DESIGNATION OF BENEFICIARIES

         a. If Executive should die while receiving Base  Compensation  payments
pursuant to this Agreement, the remaining Base Compensation payments which would
have  been paid to  Executive  if he had lived  shall be paid as  designated  by
Executive on his Company  beneficiary  Designation  Form. Such payments shall be
made at the same time and in the same manner as if the  Executive  were alive to
receive the payments, except in such cases where a different payment schedule is
provided, or in other company-sponsored plans or programs.

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         b. The filing of a new Company beneficiary Designation Form will cancel
all designations previously filed. Any finalized divorce or marriage (other than
a  common-law  marriage)  of  Executive  subsequent  to the date of  filing of a
beneficiary  designation shall revoke such designation,  unless: (i) In the case
of divorce,  the previous spouse was not designated as beneficiary,  and (ii) In
the case of marriage,  Executive's  new spouse had previously been designated as
beneficiary.

         c. If Executive fails to designate a beneficiary as provided for above,
or if the beneficiary designation is revoked by marriage,  divorce, or otherwise
without  execution  of a new  designation,  then  the  Company's  Board  (or its
Compensation  Committee  if one exists)  shall  direct the  distribution  of any
benefits under this Agreement to Executive's estate.

         7.       TRADE SECRETS AND CONFIDENTIAL INFORMATION

         The parties  hereto  recognize that a major need of the Company and its
subsidiaries  is to preserve  its  specialized  knowledge,  trade  secrets,  and
confidential  information concerning its business. The strength and good will of
the  Company  is derived  from the  specialized  knowledge,  trade  secrets  and
confidential   information   generated  from   experience  with  the  activities
undertaken  by  the  Company  and  its  subsidiaries.  The  disclosure  of  this
information  and  knowledge  to  competitors  would  be  beneficial  to them and
detrimental to the Company,  as would the  disclosure of  information  about the
marketing   practices,   pricing  practices,   costs,  profit  margins,   design
specifications,  analytical techniques, and similar items of the Company and its
subsidiaries.  By reason of his position with the Company, Executive has or will
have access to, and has obtained or will obtain,  specialized  knowledge,  trade
secrets and  confidential  information  about the Company's  operations  and the
operations of its subsidiaries.  Therefore,  Executive hereby agrees as follows,
recognizing  that the Company is relying on these  agreements  in entering  into
this Agreement:

         a. Executive covenants and agrees that Executive shall not, directly or
indirectly,  use,  disseminate,  or disclose for any purposes other than for the
purposes  of the  Company's  business,  any  confidential  information  or trade
secrets of the Company or its subsidiaries,  unless such disclosure is compelled
in a judicial  proceeding.  Upon termination of this employment,  all documents,
records,  notebooks,  and similar repositories of records containing information
relating  to  any  trade  secrets  or  confidential   information  then  in  the
Executive's  possession or control,  whether prepared by him or by others, shall
be left with the  Company or  returned to the  Company  upon its  request.  This
section shall not restrict the Executive  from using his general  knowledge (the
ideas,  concepts,  know-how and other industry  information which is part of his
common  knowledge)  from pursuit of livelihood  subsequent to any termination of
this Agreement.

         b. As a material inducement to the Company to enter into this Agreement
and to pay Executive the  compensation  and benefits  stated in this  Agreement,
Executive  covenants and agrees that during the term of this Agreement and for a
period of one year following the  termination  of the  Agreement,  the Executive
shall  not  compete  with  the  Company  or its  subsidiaries,  pursue  business
opportunities  with or serve  as a  consultant  or  member  of the  staff in any
capacity to any other  companies with whom the Company or its  subsidiaries  has
transacted business during the prior year of employment, either as a customer or
a supplier,  without the prior written  permission of the Company.  For one year
following  termination  of employment,  the Executive  confirms that he will not
directly or  indirectly,  without prior written  consent,  perform work that the
Company or any of its subsidiaries holds in backlog or is pursing at the time of
termination.

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         c. The covenant of non-disclosure  and covenant not to compete apply to
the  Company and its  subsidiaries,  have been  negotiated  and agreed to by and
between the Company and Executive with the full knowledge of and pursuant to the
Colorado  Trade  Secrets  Act,  and are  deemed by both  parties  to be fair and
reasonable.

         d. Executive  agrees that any breach of the covenant of  non-disclosure
or covenant not to compete will cause the Company irreparable damage for which a
remedy at law will not be wholly adequate.  In the event of breach or threatened
breach by  Executive  of the  covenant  of  non-disclosure  or  covenant  not to
compete,  the Company  shall be entitled to  injunctive  relief to restrain  the
breach or threatened  breach,  as well as to damages sustained and recovery of a
reasonable  attorney  fee.  The  Company  may  elect to  enforce  this  right to
injunctive  relief in any court of jurisdiction,  or may proceed in arbitration.
This section controls and supersedes  Section 10.g (Dispute  Resolution) of this
Agreement.  If there is a judgment in court or in arbitration that the Executive
has  breached  the covenant of  non-disclosure  or covenant not to compete,  the
Company  shall be  entitled to  terminate  all  payment  obligations  under this
Agreement, and recover any payments made to Executive after the date of breach.

         e. The  parties  intended  that the  covenant  not to compete  shall be
construed  as a series of  separate  covenants,  one for each county and city to
which it may be applicable.  Except for geographic coverage,  each such separate
covenant  not to  compete  shall  be  deemed  identical.  If,  in  any  judicial
proceeding, a court shall refuse to enforce any of the separate covenants,  then
the  unenforceable  covenant  shall be deemed  reduced or  eliminated  from this
Agreement for the purpose of those proceedings to the extent necessary to permit
the  remaining  separate  covenants  to be  enforced.  In the  event a court  of
competent  jurisdiction finds this covenant so overbroad as to be unenforceable,
the parties intend that this covenant be reduced in scope by the court, but only
to the extent  necessary  by the court to render  the  covenant  reasonable  and
enforceable,  keeping in mind that  Executive and the Company intend to give the
Company the broadest possible protection against harmful future competition.

         8.       TAX MATTERS

         a. If any  payments  due  Executive  under  this  Agreement  result  in
Executive's  liability  for an excise tax  ("parachute  tax") under the Internal
Revenue Code (the "Code'),  the Company will pay to Executive,  after  deducting
any  Federal,  state or local  income  tax  imposed  on the  payment,  an amount
sufficient to fully satisfy the "parachute tax" liability. Such payment shall be
made to  Executive  not later than thirty (30) days prior to the due date of the
"parachute tax".

         b. To the extent  required by law, the Company shall  withhold from any
payments under this Agreement any applicable federal, state or local withholding
taxes.

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         9.       INDEMNIFICATION

         So long as  Executive  is not found by a court of law to be guilty of a
willful  and  material  breach  of this  Agreement,  or to be  guilty  of  gross
misconduct,  he  shall  be  indemnified  from and  against  any and all  losses,
liability,  claims and  expenses,  damages,  or causes of action,  proceeding or
investigations,  or threats  thereof  (including  reasonable  attorney  fees and
expenses  of counsel  satisfactory  to and  approved by  Executive)  incurred by
Executive,  arising  out of,  in  connection  with,  or based  upon  Executive's
services  and  the  performance  of  his  duties  pursuant  to  this  Employment
Agreement,  or any  other  matter  contemplated  by this  Employment  Agreement,
whether or not resulting in any such  liability  subject to such  limitations as
are provided by the  Colorado  Business  Corporations  Act.  Executive  shall be
reimbursed by the Company as an when incurred for any reasonable legal and other
damage,  liability,  action  proceeding,  investigation  or threat  thereof,  or
producing  evidence,  producing  documents or taking any other action in respect
thereto  (whether or not  Executive  is a defendant in or target of such action,
proceeding or investigation), subject to such limitations as are provided by the
Colorado Business Corporations Act.

         10.      OTHER MATTERS

         a. Successors.  The rights and duties of a party hereunder shall not be
assignable  by that  party;  provided,  however,  that this  Agreement  shall be
binding upon and insure to the benefit of any  successor  of ONLN,  and any such
successor  shall  be  deemed  substituted  for  ONLN  under  the  terms  of this
Agreement.  The term  successor as used herein shall  include any person,  firm,
corporation or other business  entity which at any time, by merger,  purchase or
otherwise,  acquires all or substantially all of the assets or business of ONLN.
This  Agreement  shall also be binding  upon and shall  inure to the  benefit of
Executive, Executive's heirs, executors, administrators and beneficiaries.

         b. Entire Agreement. With respect to the matters specified herein, this
Agreement  contains the entire agreement  between the parties and supersedes all
prior oral and written  agreements,  understandings and commitments  between the
parties.   This  Agreement   shall  not  affect  the  provisions  of  any  other
compensation, retirement or other benefits program of ONLN to which Executive is
a party or of which he is a beneficiary.  No amendments to this Agreement may be
made except through a written document signed by both parties.

         c. Validity.  In the event that any provision of this Agreement is held
to be invalid, void or unenforceable,  the same shall not affect, in any respect
whatsoever, the validity of any other provision of the Agreement.

         d. Notice. Any notice or demand required or permitted to be given under
this Agreement  shall be made in writing and shall be deemed  effective upon the
personal  delivery thereof if delivered or, if by express delivery  service,  24
hours after placing in the control of a nationally  recognized  express delivery
service; or if mailed, 72 hours after having been deposited in the United States
mail,  postage prepaid,  and addressed in the case of ONLN to its then principal
place of business,  presently 6909 South Holly Circle, Suite 320, Englewood,  CO
80112,  and in the case of  Executive  to Kris M.  Budinger,  2  Sycamore  Lane,
Littleton,  CO 80127.  Either party may change the address to which such notices
are to be addressed  by giving the other party  notice in the manner  herein set
forth.

                                       109

<PAGE>

Executive Employment Agreement
Page 10

         e.  Attorneys  Fees and  Costs.  In any  action  at law or in equity to
enforce any of the provisions or rights under this Agreement,  the  unsuccessful
party to such  litigation,  as  determined  by the Court in a final  judgment or
decree,  shall pay the  successful  party or  parties  all costs,  expenses  and
reasonable  attorneys' fees incurred therein by such party or parties (including
without  limitation such costs,  expenses and fees on any appeals),  and if such
successful  party or  parties  shall  recover  judgment  in any such  action  or
proceeding, such costs, expenses and attorneys' fees shall be included a part of
such judgment.  Notwithstanding the foregoing  provision,  in no event shall the
successful  party  or  parties  be  entitled  to  recover  any  amount  from the
unsuccessful  party for costs,  expenses  and  attorneys'  fees that  exceed the
unsuccessful party's costs,  expenses and attorneys' fees in connection with the
action or proceeding.

         f.  Mitigation and Offset.  Executive shall not be required to mitigate
the amount of any payment  provided for in this Agreement by seeking  employment
or  otherwise,  nor to offset the  amount of any  payment  provided  for in this
Agreement  by  amounts  earned  as  a  result  of   Executive's   employment  or
self-employment during the period he is entitled to such payment.

         g.  Applicable  Law  and  Dispute   Resolution.   To  the  full  extent
controllable by stipulation of the parties,  this Agreement shall be interpreted
under  Colorado law. All disputes  arising out of this Agreement will be settled
by  binding  arbitration  in  Denver,  Colorado,  with a  representative  of the
American Arbitration Association or successor organization.

         h.  Survival  of  Obligations.  The  obligation  of the  parties  under
Sections 5, 7, 9, and 10 of this Agreement shall survive any termination of this
Agreement.

         This  Executive  Employment  Agreement  has been  signed by the parties
effective as of the date first stated above.

ONLINE ENTERTAINMENT, INC.                  EXECUTIVE

   /s/   Gordon F. Ware                         /s/   Kris M. Budinger
----------------------------------          ------------------------------------
By:                                         Kris M. Budinger

                                       110

<PAGE>

                         EXECUTIVE EMPLOYMENT AGREEMENT
                                   AMENDMENT 1

This  Amendment  to  the  Executive   Employment  Agreement  is  made  effective
retroactively to March 4, 1998, between OnLine  Entertainment,  Inc., ("ONLN" or
the "Company") and Kris M.
Budinger (the "Executive").

In consideration  of the mutual benefits and obligations in this Agreement,  and
intending to be legally bound, ONLN and Executive agree as follows:

Reference paragraph 4b(i),  Compensation  (Incentive Options). This paragraph is
changed and amended to the following:

In recognition of the considerable  challenges  accepted by him, Executive shall
receive an  Incentive  Bonus  consisting  of a stock  option  grant to  purchase
500,000  shares of the  Company's  common stock fully vested and priced at $5.50
per share.  The  incentive  options shall expire ten years from the date of this
Agreement unless earlier exercised.

This  Amendment to the  Executive  Employment  Agreement  has been signed by the
parties as of the date below and effective retroactively to March 4, 1998.

Date:    12/31/98                           Date:    12/31/98

OnLine Entertainment, Inc.                  Executive

     /s/    Larry Arnold                         /s/    Kris M. Budinger
----------------------------------          ------------------------------------
By:                                         Kris M. Budinger

                                       111

<PAGE>

                            ONLINE POWER SUPPLY INC.

                       (FORMERLY ONLINE ENTERTAINMENT INC)

                       AUTHORIZATION FOR PAYROLL INCREASE

         Effective  January 1, 2000, Mr. Kris Budinger's base  compensation will
increase  $6,500 per month to a monthly  total of $12,500  and to an annual base
compensation  of  $150,000  in  his  position  as C O O.  All  other  terms  and
conditions  of  Mr.  Budinger's  Executive  Employment   Compensation  Agreement
executed in March, 1998 remain the same.
         The  Board  of  Directors   unanimously   approved   this  increase  in
compensation for Mr. Budinger at it's meeting on December 1, 1999.

                                         /s/   Larry Arnold, Chairman
                                       -----------------------------------------
                                       On Behalf of the Board of Directors of
                                       OnLine Power Supply Inc.
                                       (Formerly OnLine Entertainment Inc)

                                       112EXHIBIT 10.4

                         EXECUTIVE EMPLOYMENT AGREEMENT

         This  agreement  ("Agreement")  is made effective as of January 1, 2000
between OnLine Power Supply,  Inc. (the  "Company"),  and Richard Lee Millspaugh
(the  "Execu-tive"),  presently  residing  at  6335  Lemonwood  Drive,  Colorado
Springs,  Colorado  80918.  The Executive has been employed and is continuing to
serve the Company as Chief Financial Officer.

         In  consideration  of the  mutual  benefits  and  obligations  in  this
Agreement,  and  intending  to be legally  bound  hereby,  the  Company  and the
Executive agree as follows:

         1.       OFFICE AND DUTIES

         The Executive shall be employed as the Chief  Financial  Officer of the
Company and shall be responsible for performing and/or supervising others in the
Company  to  perform  those  tasks  attendant  to such  position.  The  Board of
Directors may assign other duties to the  Executive,  if the other duties do not
materially  impact his  ability to serve as the Chief  Finan-cial  Officer.  The
Company reserves the right to designate his place of work.

         The Executive agrees to devote  substantially all of his normal workday
time  and  energy  to  the   performance   of  the   duties  of  his   position.
Notwithstanding the above, the Executive shall be permitted to have interests in
other  businesses that do not compete with the Company or its  subsidiaries,  or
otherwise are not in violation of this Agreement, and he may render services for
such other business interests,  provided such service does not prevent Executive
from performing his duties under this Agreement.  The Executive  agrees with the
Company that any and all inventions or designs or  improvements to electronic or
electrical devices or systems which he creates alone or with others,  during the
term of this Agreement (hereafter,  the "OTHER INVENTIONS"),  shall be presented
and disclosed first to the Company,  for its decision to take up and exploit the
Other  Inventions even if it is or they are outside of the line of products then
being worked on by any employees or  consultants  to the Company.  The Executive
agrees  with the  Company  that any and all  intellectual  rights to such  Other
Inventions  shall belong  exclusively  to the  Company,  until it is or they are
presented and disclosed to the Company by the Executive.  If the Company decides
to take up and exploit such Other  Inventions,  the Company shall thereafter own
any and all intellectual rights to it or them forever, provided that the Company
proceeds  in good faith and uses its best  efforts  to  exploit it or them.  The
Company shall make its decision in a commercially reasonable period of time, not
to exceed six months after full  presentation  and  disclosure to the Company by
the  Executive.  If after a  reasonable  period  of time,  the  Company  and the
Executive agree that the Company cannot proceed further with such  exploitation,
then the Company  shall  assign the rights to the Other  Inventions  back to the
Executive.

                                       113

<PAGE>

         2.   TERM OF EMPLOYMENT

         The Company shall employ the  Executive and he accepts such  employment
for a term  beginning as of January 1, 2000 and ending  December 31, 2004,  upon
the  terms  and  conditions  set forth in this  Agreement.  Notwithstanding  the
foregoing,  if this  Agreement has not been  terminated  in accordance  with the
provisions  herein on or before  December 31, 2004, then this Agreement shall be
renewed one time only for an additional  term of five years,  unless between the
dates of January 31, 2004 and June 30, 2004, the Board of Directors has notified
the Executive in writing of its decision to have this Agreement  expire when the
original term expires (i.e., a "notice of no renewal"). If that notice is given,
and if this  Agreement  has not been  terminated  for other  reasons,  then this
Agreement  shall expire on the expiration of its original term, and shall not be
renewed

         3.       DEFINITIONS.

              For the  purposes  of this  Agreement,  these terms shall have the
meaning set forth in this paragraph:

              "BASE COMPENSATION" shall mean  an amount per  annum  equal to the
              sum of:

              (a) The annual  Base  Salary in effect for  Executive  immediately
              preceding the  termination of employment.  The Base Salary for the
              Executive as of the date of this  Agreement is stated in Section 4
              below.

              (b) Continued  participation in all basic and  supplemental  life,
              accident,   disability,  and  other  Company-sponsored   insurance
              benefits provided to the Executive  immediately preceding the date
              of this  Agreement  (assuming  the Executive is  insurable).  Life
              insurance,  if  available  for the  Executive,  will provide for a
              split of benefits in the event of death equally between his estate
              and the Company.  If this  Agreement is terminated  other than for
              cause,  then  the  Company  will  continue  to  provide  the  same
              insurance  benefits  for so long as Base  Salary is paid to him or
              his estate;  if  continued  participation  in one or more of these
              benefits  is  not  possible,  the  Company  will  continue  him in
              benefits which are substantially  similar to those which Executive
              would have been  entitled to if he had continued as an employee of
              the  Company at the same  compensation  level  which was in effect
              immediately prior to his termination.

              (c)   Continuance  of  vesting  and  benefit   accrual  under  any
              Company-sponsored  retirement  programs  in effect  for  Executive
              immediately  prior to termination (or, if continued  participation
              in such programs is not possible,  benefits  substantially similar
              to those  which  Executive  would have been  entitled to if he had
              continued  as an employee of the Company at the same  compensation
              level immediately prior to termination). However, the terms of any
              stock options granted to the Executive  pursuant to this Agreement
              or otherwise shall be controlling  with respect to the vesting and
              benefit accrual provisions of such options.

                                       114

<PAGE>

              "BOARD " means the Board of Directors of the Company.

              "CAUSE " shall mean (i) willful refusal by the Executive to follow
              a lawful written demand signed by the Board;  (ii) the Executive's
              willful and  continued  failure to perform  his duties  under this
              Agreement  (but not his  failure to  perform  due to  physical  or
              mental  illness)  after  a  written  demand  is  delivered  to the
              Executive  by the Board  specifically  identifying  the  manner in
              which the Board  believes the  Executive has failed to perform his
              duties;  (iii)  the  Executive's  willful  engagement  in  conduct
              materially   injurious  to  the  Company;   (iv)  the  Executive's
              conviction  of any felony;  or (v) the  Executive's  breach of any
              provisions of this Agreement. For purposes of clauses (i), (ii) or
              (iii)  of  this  definition,  no  act,  or  failure  to act on the
              Executive's part shall be deemed 'willful' unless done, or omitted
              to be done, by Executive not in good faith and without  reasonable
              belief  that  Executive's  act or  failure  to act was in the best
              interests of the Company.

              "CONSTRUCTIVE  TERMINATION " shall mean the Executive's  voluntary
              termination  of employment  within ninety (90) days  following the
              occurrence  of one or more of the  following  events,  unless such
              event is approved by the Executive in advance of such event.

              A failure by the  Company to  perform  any part of this  Agreement
              that  is  not   reme-died   within  ten  (10)   business  days  of
              notification by Executive of such failure, including any violation
              of Executive's  rights as described in this Agreement  unless such
              rights are replaced by alternative  rights of approximately  equal
              value;

              A  reduction  of  Executive's  title  or  responsibilities   below
              positions specified in or pursuant to this Agreement; or

              A relocation  of  Executive's  primary place of business more than
              fifty  (50)  miles  from  its  location  as of the  date  of  this
              Agreement.

              "DISABILITY"  shall be deemed to have occurred if the Executive is
              unable to substantially  perform the normal duties of his position
              with  the  Company,  or if the  Executive  makes  application  for
              disability   benefits   under  any   Company-sponsored   long-term
              disability  program  covering the  Executive  and he qualifies for
              such benefits.

              "RETIREMENT " shall mean the Executive's  voluntary termination of
              service  with the  Company at any time  after he  reaches  age 60,
              where  the  Executive   retires  from   substantially   full  time
              employment generally.

                                       115

<PAGE>

         4.       COMPENSATION

         For all  services  rendered  by the  Executive  during the term of this
Agreement,  the Executive  shall be compensated  with the Base  Compensation  as
defined in this Agreement (including the Base Salary, options,  performance cash
compensation bonus, and automobile allowance as they are specified below):

         BASE SALARY.  The minimum Base Salary payable to the Executive starting
with the date of this Agreement shall be $84,000.  The Board or its Compensation
Committee  (if one is  designated)  will review the  Executive's  Base Salary at
least annually to determine the amount of any increase. Upon any increase in the
Executive's  Base Salary,  such increased rate shall  thereafter  constitute the
Executive's  annual Base Salary for all purposes of this Agreement,  except that
the Company may reduce the  Executive's  Base Salary during any year by not more
than 10% below the Base Salary in effect at the beginning of the year as part of
any general  salary  reduction  which applies to all officers of the Company and
its  subsidiaries.  Such a reduction  shall not constitute a termination of this
Agreement.

         INCENTIVE STOCK OPTIONS. As an incentive for continued contributions to
the  Company,  the  Company  shall  issue to the  Executive  options to purchase
100,000 shares of the Company's common stock (the  "PERFORMANCE  OPTIONS").  The
exercise price per share shall be $5.625,  which is the fair value of the shares
taking into account the Company's sales of restricted  shares of common stock to
investors in December  1999,  the average of the OTCBB bid and ask prices of the
common stock in December  1999,  and the low trading  volume (as a percentage of
outstanding shares and of "free trading float shares").  The Performance Options
shall  not be issued  as  "qualified  incentive  stock  options"  under the 1999
Incentive  Stock Option Plan, but the  Performance  Options  otherwise  shall be
subject to all of the terms of the 1999  Incentive  Stock  Option  Plan.  All of
these  options  shall  expire on January 1, 2005.  The vesting of these  options
shall be 20% (20,000 shares) on each anni-versary of this Agreement. Each vested
portion of the options shall have a term of five (5) years,  but such term shall
be shortened in the event of termination of employment,  for any reason,  and in
that event the  Performance  Options all shall  expire when the  covenant not to
compete (elsewhere stated in this Agreement)  expires.  The Performance  Options
are in  addition to other  options  issued to the  Executive  in  September  and
December 1999 to purchase 25,000 shares and 3,203 shares, respectively, and such
other options shall not be affected by the issuance of the Performance Options.

         Provided  that  the  Company's  common  stock  is  registered  with the
Securities and Exchange  Commission under section 12(g) of the Securities Act of
1934,  then, as soon as practicable  after such  registration is effective,  the
Company  will use its best efforts to file with and have  declared  effective by
the Securities and Exchange Commission a registration  statement on Form S-8 (or
comparable form for the  registration  of employee  compensation  plans),  under
section 5 of the  Securities  Act of 1933,  so as to allow the  resale  into the
public  markets by the  Executive  of the  shares of common  stock  acquired  on
exercise of the Perfor-mance Options.

                                       116

<PAGE>

         If there shall be a  combination  of the Company with  another  company
where the  Company is not the  surviving  entity,  and as a result  thereof  the
Executive  does not  continue  his  employment  under  this  Agreement,  or this
Agreement is not  accepted  and  continued  by the  surviving  entity,  then the
Executive shall be immediately fully vested in all Performance Options.

         VACATION.  Executive shall receive paid vacation per year in accordance
with the regular policies of the Company in effect for all employees, or classes
of employees, as established from time to time.

         VEHICLE ALLOWANCE. The Executive shall be paid a nonaccountable vehicle
expense  allowance  of  $500.00  per  month,  to be used at his  discretion  for
operating expenses,  vehicle purchase or lease, or insurance, or any combination
thereof.

         EXPENSE  REIMBURSEMENT.  The Company shall  reimburse the Executive for
all reasonable  expenses incurred by Executive in connection with performance of
his  duties  upon  submission  of  itemized  expense  vouchers,  subject to such
guidelines  and  policies  as  may be  promulgated  by the  Company  for  senior
executives or employees from time to time.

         LIFE  INSURANCE.  In addition to any coverage  required by the Company,
the Executive  shall be provided with a life  insurance  policy in the amount of
$250,000  (provided he is insurable and can meet the medical conditions for such
coverage), with the policy proceeds payable one-half to the Company and one-half
to such beneficiaries as he shall designate.

         TAX MATTERS.  If any payments due to the Executive under this Agreement
result in the Executive's  liability for an excise tax  ("parachute  tax") under
the Internal  Revenue Code, the Company will pay to Executive,  after  deducting
any  Federal,  state,  or local  income tax  imposed on the  payment,  an amount
sufficient to fully satisfy the "parachute tax" liability. Such payment shall be
made to the  Executive not later than 30 days prior to the due date of that tax.
To the extent  required by law, the Company  shall  withhold  from any pay-ments
under this Agreement any applicable federal, state, or local income withholding,
FICA or unemployment taxes payable by the Executive.

         5.       TERMINATION.  If this Agreement is terminated:

         (a) By the Company  without  cause,  or if the  Executive is terminated
through Constructive  Termination (provided in any event that the Executive does
not breach the other  provisions of this Agreement  concerning  covenants not to
compete and observing  the Trade  Secrets of the  Company),  or if the Executive
dies or becomes  disabled,  then the Company will  continue to pay the Executive
(or his estate) his Base Salary under this Agreement until the expiration of the
term of this  Agreement.  Except as provided in the next  sentence,  termination
without  cause under this Section  5(a) shall not affect the vested  Performance
Options,  and the remaining unvested  Performance Options shall continue to vest
as provided in this Agreement. However, all of the Performance Options which are
vested on the third anniversary of the termination of this Agreement then shall

                                       117

<PAGE>

expire and thereafter be  unexer-cisable.  Upon  termination  under this Section
5(a), all payments of the other compensation and benefits shall terminate unless
otherwise provided by law with respect to health insurance coverage.

         (b) By the Company for cause, all payments of all Base Compensation and
all of the other  compensation and benefits shall cease (except for those health
insurance  benefits which the Company is required to pay by law). There shall be
no further vesting of Perfor-mance  Options,  and all of the vested  unexercised
Performance Options shall expire on the third anniversary of termination of this
Agreement and thereafter be unexercisable.

         (c) In the event of  termination of employment of the Executive for any
reason,  the Company shall  immediately  release the  Executive,  and obtain the
release of Executive by third parties,  from any and all personal guarantees and
other credit  obligations  the Executive has incurred or undertaken on behalf of
the Company, and shall cause the immediate repayment of indebtedness owed to the
Executive  or members of his family or trusts set up by him or by members of his
family.

         6. COVENANT NOT TO DISCLOSE TRADE SECRETS;  COVENANT NOT TO COMPETE, OR
INTERFERE.

         The parties  recognize  that the Company must preserve its  specialized
knowledge,  Trade Secrets,  and other  confidential  information  concerning its
business.  The disclosure of this information to any competitors  would be cause
the Company  irreparable  harm. By reason of his position with the Company,  the
Executive  has or will  have  access  to,  and  has  obtained  or  will  obtain,
specialized  knowledge,  Trade Secrets and  confidential  information  about the
Company's  operations.  Therefore,  the  Executive  hereby  agrees  as  follows,
recog-nizing  that the Company is relying on these  agreements  in entering into
this Agreement with him:

         (a)  DEFINITIONS.  As of the  date of  this  Agreement,  the  COMPANY'S
BUSINESS is the following:  The design and marketing of power supply systems and
devices,  and the de-sign and  marketing of products  related to improved  power
supply  performance  and  continuity  through  power  surges  and  interruptions
(hereafter,  the  "GOODS").  As of the  date of this  Agreement,  the  Company's
Business is being conducted  predominantly in the United States, and may also be
conducted in Europe and Asia. Therefore,  for purposes of this Agreement,  AREAS
shall be defined to be the United  States (and its  Territories),  the  European
Union, and Taiwan and Thailand.

         The TRADE SECRETS of the Company  include:  Recipes and  techniques for
power  supply  systems  and  devices  and power  supply  performance  and supply
protection  devices,  and all of the  data,  know-how,  formulae,  compositions,
processes,  samples,  inventions  and ideas;  the data and  results of all past,
current  and  planned (as well as  unplanned  as of the date of this  Agreement)
research  and   development   work;  all  current  and  planned   marketing  and
distribution  strategies;  all past,  current  and future  customer  lists;  all
write-ups  of  current  and  anticipated  customer  (and  prospective  customer)
requirements;  all  price  lists,  market  studies,  and  business  plans of the
Company; and all notes, analysis,  compilations,  studies,  summaries, and other
material  prepared by or for the  Company  containing  or based,  in whole or in
part, on any information included in the

                                       118

<PAGE>

foregoing. Trade Secrets shall further include any and all intellectual property
associated with the preceding,  including  without  limitation state and federal
and common law copy rights,  and all patent rights.  In addition,  Trade Secrets
shall  include  any Trade  Secrets  which are  developed  after the date of this
Agreement and during its term.

         (b) COVENANT NOT TO DISCLOSE TRADE SECRETS. The Executive  acknowledges
and agrees that all Trade  Secrets known or obtained by the  Executive,  whether
before or after the date hereof, are the property of the Company.  Therefore, in
consideration of entering into this Agreement, the Executive agrees that he will
not,  at any  time,  disclose  to any  unauthorized  persons  or use for his own
account or for the  benefit of any third  party any Trade  Secret,  whether  the
Executive  has such  information  in his memory or  embodied in writing or other
physical form,  without the Company's written consent,  unless and to the extent
that the information  which constitutes the Trade Secret becomes generally known
and available for use by the public other than as a result of Executive's breach
of this Agreement.  The Ex- ecutive agrees to deliver to the Company at any time
the Company may request while this Agreement is in effect, all of the documents,
memoranda,  notes, plans, records,  reports, and other documentation relating to
the Trade Secrets that the Executive may then possess or have under his control.
In the event of termination of this Agreement,  the Executive  agrees to deliver
immediately  to the  Company  all of the  documents,  memoranda,  notes,  plans,
records,  reports, and other documentation relating to the Trade Secrets that he
may then possess or have under his control.

         (c)       COVENANT NOT TO COMPETE, OR INTERFERE.

         (i) In further  consideration  of entering into this Agreement with the
Company, the Executive agrees that if this Agreement is terminated either by the
Executive  or by the  Company,  then,  for a period of three  years  after  such
termination, the Executive will not, ei- ther directly or indirectly,  engage or
invest in, own,  manage,  operate,  finance,  control,  or  par-ticipate  in the
ownership,  management,  operation, or control of, or be employed by, associated
with,  or consult with,  any business  whose  products or activities  compete in
whole  or in part  with the  Company's  Business,  anywhere  in the  Areas.  The
Executive  agrees that this covenant is reasonable with respect to its duration,
geographical area, and scope. Further, the Executive agrees not to (i) induce or
attempt to  induce,  directly  or  indirectly,  either for  himself or any other
person, any employee of the Company to leave the employ of the Company;  (ii) in
any way interfere with the relationship  between the Company and any employee of
or consultant to or  independent  contractor  of the Company;  (iii) employ,  or
otherwise  engage  as  an  employee,   independent  contractor,   consultant  or
otherwise, any employee, consultant or independent contractor of the Company; or
(iv) induce or attempt to induce any customer, supplier, or business relation of
the Company to cease doing any business with the Company, or expand its business
in the Goods to  include  any  similar  goods  dealt in or  handled  by  another
company.

         (ii) If this Agreement is terminated  without cause under Section 5(a),
then the foregoing covenant not to compete,  or interfere,  shall continue to be
applied to the Executive,  and the Executive shall be free to provide consulting
services to the Company, or to any other person or

                                       119

<PAGE>

organization,  but the Executive  shall not be free to compete with the Company,
and he shall  continue to observe  the Trade  Secrets of the Company and not use
the Company's Trade Secrets without its prior written consent.

         The covenant under subsection (i) not to compete,  or interfere,  shall
not be  construed to prevent the  Executive  from owning not more than 5% of any
entity which files  reports with the  Securities  and Exchange  Commission  as a
"public  company."   Notwithstanding  the  provisions  of  this  paragraph,  the
Executive  shall  continue  to be subject  to, and  agrees to comply  with,  the
provisions with respect to Trade Secrets of the Company.

         In the event that a court finds any clause of this subsection (c) to be
overly  broad,  and  therefore  not  enforceable,  the court  shall  modify this
subsection (c) in order to reflect the maximum  restraint  allowable,  and shall
then enforce such subsection as modified.

         The Company and the Executive agree that except as otherwise  expressly
provided  therein,  all provisions of Section 6 (and of Section 7 below) of this
Agreement shall survive termination of this Agreement, and such provisions shall
remain in effect until three years after termination of this Agreement.

         7. INJUNCTIVE RELIEF. In the event of any violation of Section 6 (which
shall constitute a breach of this  Agreement),  the Company shall be entitled to
injunctive  relief to the  extent  allowable,  and  shall  then be  entitled  to
continue to enforce such relief  ordered.  The Company  shall not be required to
post any bond in such injunctive proceedings.

         In the event of any arbitration, litigation or other proceeding arising
as a result of the breach of this Agreement,  including  without  limitation any
injunctive or other  proceeding  with respect to the rights of the Company under
Sections 6 or 7, the party or parties prevailing in such arbitration, litigation
or proceeding shall be entitled to collect the costs and expenses of bringing or
defending  such  arbitration,  litigation or  proceeding,  including  reasonable
attorney's  fees, from the party or parties not prevailing.  The preceding shall
be  interpreted  so as to entitle the party  prevailing  in any  arbitration  to
collect the costs and expenses of  litigation  or other  proceeding  incurred by
such party,  which litigation or other proceeding  occurred prior to the dispute
being heard in arbitration.

         8. OTHER PROVISIONS. With respect to the matters specified herein, this
Agreement  contains the entire agreement  between the parties and supersedes all
prior oral of written  agreements,  understandings  and commitments  between the
parties.  In the  event  that  any  provision  of this  Agreement  is held to be
invalid,  void or  unenforceable,  the same  shall not  affect,  in any  respect
whatsoever,  the validity of any other provision of the Agreement. Any notice or
demand  required or permitted to be given under this Agreement  shall be made in
writing and shall be deemed  effective  upon the  personal  delivery  thereof if
delivered  or, if by express  delivery  service,  24 hours after  placing in the
control of an express delivery service; or if mailed, 72 hours after having been
deposited in the United States mail, postage prepaid,  and addressed in the case
of the Company to its, and in the case of the Executive to his address stated at
the beginning of this agreement. Either

                                       120

<PAGE>

party may change the address to which such notices are to be addressed by giving
the other party notice in the manner herein set forth.

         This  Executive  Employment  Agreement  has been  signed by the parties
effective as of the date first stated above.

ONLINE POWER SUPPLY, INC.

   /s/   Larry G. Arnold
-----------------------------

   /s/   Kris M. Budinger
-----------------------------

EXECUTIVE

  /s/ Richard Lee Millspaugh
-----------------------------
RICHARD LEE MILLSPAUGH

                                       121

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