Document:

May 12, 2005

Mr. Stephen P. Rolf
Marlton Technologies, Inc.
2828 Charter Road
Philadelphia, PA 19154

Re:  Employment Agreement dated November 24, 1999

Dear Steve:

      Confirming the actions of the Compensation Committee of the Board of
Directors of Marlton Technologies, Inc. ("Company"):

      Effective August 1, 2004, your annual base salary was increased to
$140,000.

      For 2004, you were awarded a discretionary bonus of $12,000.

      The provisions of your Employment Agreement relating to the above subject
matter are superseded by this amendment; otherwise the Employment Agreement
shall remain in full force and effect in accordance with its terms and shall
constitute the legal, valid and binding agreement of the Company.

                                       ---------------------------------
                                       Richard Vague
                                       Chairman of Compensation Committee

Agreed this _____ day of May, 2005.

----------------------------------
         Stephen P. RolfEXHIBIT 10.12

                              TERMINATION AGREEMENT

                  THIS TERMINATION AGREEMENT (the "Agreement") is made and
entered into effective as of April 26, 2005, by and between SAGAMORE HOLDINGS,
INC., a Florida corporation (the "Company"), and CORNELL CAPITAL PARTNERS, LP, a
Delaware limited partnership (the "Investor").

                                    Recitals:

         WHEREAS, on September 15, 2004, the Company and Investor entered into
that certain Standby Equity Distribution Agreement ("SEDA"), as well as the
related Registration Rights Agreement, Placement Agent Agreement and Escrow
Agreement of even date therewith (together with the SEDA, the "Transaction
Documents"); and

         WHEREAS, on March 14, 2005, the Company received a comment letter from
the Securities and Exchange Commission (the "Comment Letter") asserting that the
SEDA could not be entered into between the Investor and the Company prior to
shares of the Company's common stock being quoted on the Over-the-Counter
Bulletin Board ("OTCBB");

         NOW, THEREFORE, in consideration of the promises and the mutual
promises, conditions and covenants contained herein and in the Transaction
Documents and other good and valuable consideration, receipt of which is hereby
acknowledged, the parties hereto agree as follows:

         1.       Termination. As a result of the Comment Letter, the
                  Transaction Documents are hereby terminated, as are the
                  respective rights and obligations contained therein. As a
                  result of this provision, none of the parties shall have any
                  rights or obligations under or with respect to the Transaction
                  Documents.

         2.       Payment of Fees. Notwithstanding the termination of the
                  Transaction Documents, the Company shall pay to the Investor
                  the Investor's Shares as the commitment fee as outlined in
                  Section 12.4(b)(ii) of the Standby Equity Distribution
                  Agreement and the compensation outlined in Section 2A of the
                  Placement Agent Agreement. The parties acknowledge that such
                  shares have previously been issued to the Investor and the
                  Placement Agent.

         3.       New Standby Equity Distribution Agreement. It is the intent of
                  the Investor and the Company to enter into a new standby
                  equity distribution agreement and related transaction
                  documents, with substantially identical terms as the SEDA and
                  Transaction Documents immediately upon shares of the Company's
                  common stock being quoted on the OTCBB.

                     [SIGNATURE BLOCK ON THE FOLLOWING PAGE]

                  IN WITNESS WHEREOF, the parties have signed and delivered this
Termination Agreement on the date first set forth above.

                                    SAGAMORE HOLDINGS, INC.

                                    By: /s/ Robert Farrell
                                        ----------------------------
                                    Name:    Robert Farrell
                                    Title:   Chief Executive Officer

                                    CORNELL CAPITAL PARTNERS, LP

                                    BY:      YORKVILLE ADVISORS, LLC
                                    ITS:     GENERAL PARTNER

                                             By: /s/ Mark Angelo
                                                 ----------------------------
                                             Name     Mark Angelo
                                             Title:   Managing Member

                                    SOLELY WITH RESPECT TO THE PLACEMENT AGENT
                                    AGREEMENT:

                                    By: /s/ Guy S. Amico
                                        ----------------------------
                                    Name:    Guy S. Amico
                                    Title:   President

                                 EXHIBIT 10.12-1EXHIBIT 4.1

NUMBER                                                             UNITS

U-__________

   SEE REVERSE FOR         INTERNATIONAL METAL ENTERPRISES, INC.
 CERTAIN DEFINITIONS

                                                                           CUSIP

             UNITS CONSISTING OF ONE SHARE OF COMMON STOCK AND TWO
              WARRANTS EACH TO PURCHASE ONE SHARE OF COMMON STOCK

THIS CERTIFIES THAT ____________________________________________________

is the owner of ________________________________________________________ Units.

Each Unit ("Unit") consists of one (1) share of common stock, par value $.0001
per share ("Common Stock"), of International Metal Enterprises, Inc., a Delaware
corporation (the "Company"), and two warrants (the "Warrants"). Each Warrant
entitles the holder to purchase one (1) share of Common Stock for $5.00 per
share (subject to adjustment). Each Warrant will become exercisable on the later
of (i) the Company's completion of a merger, capital stock exchange, asset
acquisition or other similar business combination or (ii) _______ __, 2006 and
will expire unless exercised before 5:00 p.m., New York City Time, on _______ _,
2009, or earlier upon redemption (the "Expiration Date"). The Common Stock and
Warrants comprising the Units represented by this certificate are
transferable separately beginning 20 trading days after the earlier to occur
of the exercise in full or expiration of the underwriter's overallotment option
(as described in the Company's prospectus dated __, 2005). The terms of the
Warrants are governed by a Warrant Agreement, dated as of _________ _, 2005,
between the Company and Continental Stock Transfer & Trust Company, as Warrant
Agent, and are subject to the terms and provisions contained therein, all of
which terms and provisions the holder of this certificate consents to by
acceptance hereof. Copies of the Warrant Agreement are on file at the office of
the Warrant Agent at 17 Battery Place, New York, New York 10004, and are
available to any Warrant holder on written request and without cost.

     This certificate is not valid unless countersigned by the Transfer Agent
and Registrar of the Company.

     Witness the facsimile seal of the Company and the facsimile signature of
its duly authorized officers.

By

___________________________________          ___________________________________
                          PRESIDENT          SECRETARY

                                (GRAPHIC OMITTED)
                      INTERNATIONAL METAL ENTERPRISES, INC.

                                    CORPORATE

                                    DELAWARE

                                      SEAL
                                      2004

                      INTERNATIONAL METAL ENTERPRISES, INC.

         The Company will furnish without charge to each stockholder who so
requests, a statement of the powers, designations, preferences and relative,
participating, optional or other special rights of each class of stock or series
thereof of the Company and the qualifications, limitations, or restrictions of
such preferences and/or rights.

         The following abbreviations, when used in the inscription on the face
of this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

         TEN COM -         as tenants in common                        UNIF GIFT MIN ACT - _____ Custodian ______
         TEN ENT -         as tenants by the entireties                                   (Cust)           (Minor)
         JT TEN -          as joint tenants with right of survivorship           under Uniform Gifts to Minors
                           and not as tenants in common                                  Act ______________
                                                                                                 (State)

Additional Abbreviations may also be used though not in the above list.

         For value received, _____________ hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
    IDENTIFYING NUMBER OF ASSIGNEE

__________________________________

__________________________________

________________________________________________________________________________

  (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

________________________________________________________________________________

________________________________________________________________________________

__________________________________________________________________________ Units

represented by the within Certificate, and do hereby irrevocably constitute and
appoint

_______________________________________________________________________ Attorney
to transfer the said Units on the books of the within named Company will full
power of substitution in the premises.

Dated _____________________

                    ____________________________________________________________

                    NOTICE: The signature to this assignment must correspond
                            with the name as written upon the face of the
                            certificate in every particular, without alteration
                            or enlargement or any change whatever.

Signature(s) Guaranteed:

________________________________________________________________________________
THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
(BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH
MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO
S.E.C. RULE 17Ad-15).

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