Document:

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                                                                   Exhibit 10.21

                                AGENCY AGREEMENT

                                                    MONOGRAM INTERNATIONAL INC.,
                                                MONOGRAM PRODUCTS (H.K.) LIMITED

                                       AND

                       TAI NAM INDUSTRIAL COMPANY LIMITED

This agency agreement dated entered into between Tai Nam Industrial Company
Limited (hereinafter referred to as the Agent) of Units A&B, 3rd Floor, CDW
Building, 388 Castle Peak Road, Tsuen Wan, N.T., Hong Kong and Monogram
International Inc., and Monogram Products (H.K.) Limited whose address is
situated at 12395, 75th Street North, Largo, Florida 33773-3090, U.S.A. and
Units A&B, 3rd Floor, CDW Building, 388 Castle Peak Road, Tsuen Wan, N.T., Hong
Kong, respectively (hereinafter collectively referred to as the Company).

Both parties agree to the following terms and conditions of the agreement:

WHEREAS, the Company and the Agent entered into this Agency Agreement pursuant
to which the Agent, among other things, agreed to (i) handle all of the
Company's purchase orders for its products, (ii) handle all of the Company's
shipping documents, (iii) clear all of the Company's letters of credit and bills
to Monogram Products (H.K.) Limited and payments, (iv) serve as a liaison
between the Company and its manufacturers and vendors, and (v) ensure the
quality of goods purchased for the Company.

NOW, THEREFORE, in consideration of the following and other goods and valuable
consideration received to date, the Parties hereby agree as follows:

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1.  The Agent shall employ and maintain sufficient staff and purchasing
    personnel who will devote an adequate portion of their time to the purchase
    of the Company's products and to the performance of all the Agent's duties
    and obligations to be performed hereunder. In this connection, the Agent
    shall appoint a dedicated Account Executive to handle all matters for the
    Company, on a daily basis.

2.  The Agent shall use commercially reasonable efforts to conduct its duties
    pursuant to the terms of this Agreement.

3.  The Agent shall furnish the Company from time to time, as the Company may
    reasonably request, with such statements, reports or other documents
    pertaining to its activities hereunder.

4.  The Agent shall provide manpower for the co-ordination work of the business
    including the handling of purchase orders planned for merchandise by the
    Company.

5.  The Agent shall provide manpower for the handling of all shipping documents.

6.  The Agent shall provide manpower on the handling and clearance of L/C, bills
    and payments, where applicable.

7.  The Agent shall provide the manpower on the liaison work with manufacturers
    and vendors.

8.  The Agent shall control the quality of the goods by engaging Q.C. staff to
    carry out quality control inspections in the production line and on the
    finished goods to ensure quality is in accordance with the agreed
    specifications and that the product is complying with the required
    specifications.

9.  In consideration of the aforementioned agency service, the agent shall
    receive, for products purchased on behalf of the company, a fee equal to 7%
    of the gross involved value of products purchased by the Company (the
    "Agency Fee"). The agency fee shall be computed on the basis of the
    following formula: Factory purchase price of the merchandise x (1/0.93) =
    Price quote to the Company with Agency fee inclusive

    For all existing items manufactured by existing vendors, other than Tai Nam,
    no agency fee will be charged by Tai Nam in the performance of the order
    management role in these manufacturing entrustments unless Tai Nam be able
    to source a better price on the existing item rendering a reduction and
    savings from the existing price paid by the Company. As and when a saving is
    realized, an agency fee, equal to the amount of the savings but no more than
    7% as computed on the basis of the aforementioned paragraph, will be
    remunerated to Tai Nam. Any savings in excess of the 7% would be completely
    passed on to the Company such that the Company

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    would under no circumstance be paying higher cost as the result of the
    agency arrangement with Tai Nam.

10. The Company is to buy at FOB HK prices submitted by the vendors or
    factories. Shipment processing charges will be responsible by the vendors or
    factories for LCL handling including CFS charges (container freight station
    charges in respect of inland & HK Transportation), and THC (terminal
    handling charges and document charges from shipping companies). Shipment
    consolidation will be done in HK and is the responsibility of the vendors or
    factories.

11. In general, all other expenses on the development, testing, purchasing,
    selling and all other expenses in the maintenance of matters in association
    with this arrangement shall be responsible and paid for by the Company.

12. The Company shall be responsible for the charges in making of moulds on new
    products and all related charge to complete the mould for manufacturing. The
    moulds shall be the assets of the Company.

13. The Agency fee to the Agent shall be due and payable when the invoice is due
    as and when the goods are being shipped. Calculation will be done on
    individual invoice basis and be included as part of the cost of goods
    purchased by the Company.

14. The Company shall be responsible to ensure compliance with all legal and
    statutory requirements imposed on the business being conducted.

15. No party shall have the right to assign this Agreement or any of its rights
    and privileges hereunder to any other person, firm or corporation without
    the prior written consent of the other party, and any assignment without
    such consent shall be null and void.

16. The Agent acknowledges and agrees that during the term of this Agreement it
    will receive information developed by or on behalf of the Company relating
    to the Company's products and the Company's business. The Agent acknowledges
    and agree that such information, together with all information developed by
    or on behalf of the Company either separately or in cooperation or
    consultation with Agent hereunder, including without limitation, customer
    lists and related materials, and all of the foregoing shall be and remain
    the sole and exclusive property of the Company and is to be protected as
    confidential information (all such information being hereafter referred to
    collectively as the "Confidential Information"); except that Confidential
    Information shall not include information:

    (a) which is known to the recipient prior to disclosure (except for
        non-public information concerning existing Company products or products
        under

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        development by or for the Company) or is information generally available
        to the public;

    (b) which was not acquired, directly or indirectly and/or in any manner,
        from the disclosing party and which the recipient lawfully had in its
        possession prior to the date of this Agreement; (c) which, hereafter,
        through no act or omission on the part of the recipient, becomes
        information generally available to the public;

    (d) which corresponds in substance to information furnished to the recipient
        on a non-confidential basis by any third party having a legal right to
        do so; or

    (e) which is required in response to legal process, or to the extent a Party
        is advised that such action is required to comply with foreign, federal
        or state laws or regulations.

The provisions of this Section shall not apply to any disclosure by David Ki
Kwan Chu in his capacity as Chairman or as a member of the Board of Directors of
Toymax International. Inc. or any of its subsidiaries if such disclosure is not
in violation of his fiduciary duties to Toymax International, Inc. or any of its
subsidiaries. During the term of this Agreement and for a period of two years
thereafter, the Agent agrees to keep confidential and disclose or permit to be
disclosed to any third party any such Confidential Information except to the
extent previously agreed in writing by the Company or as is required to be
disclosed pursuant to applicable law. The Agent acknowledges and agrees that the
Company would suffer great loss and irreparable damage if the Agent were to
disclose Confidential Information other than as contemplated herein, and the
Agent therefore acknowledges and agrees that the Company, in addition to any
right or remedy it may have at law or in equity hereunder, shall be entitled to
an injunction, without the posting of any bond or other security, enjoining or
restraining the Agent, its officers, employees or representatives from any
violation or threatened violation of this.

17. The Agent agrees not to sell, assign or transfer any products or property of
    the Company without the prior written consent of the Company.

18. This Agreement is to be construed in accordance with the laws of the Hong
    Kong Special Administration Region without giving effect to conflict of laws
    principles.

19. Neither this Agreement nor any provision thereof may be modified, waived,
    discharged or terminated orally, but only by a writing signed by the party
    to be charged. A waiver of any provision by any party to this Agreement
    shall be valid only in the instance for which given and shall not be deemed
    continuing, and any such waiver shall not be construed as a waiver of any
    other provision of this Agreement.

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20. Each party to this Agreement represents, agrees and warrants that it will
    perform all other acts and execute and deliver all other documents that may
    be necessary or appropriate to carry out the intent and purposes of this
    Agreement.

21. This agreement shall be valid for a period to 31st March 2001 from the date
    herein above referred. This agreement shall automatically extend until
    termination. Each party shall have the right to terminate this agreement by
    giving the other party three months' written notice in advance.

22. Nothing contained in this Agreement shall be construed as requiring the
    commission of any act contrary to law. Whenever there is any conflict
    between any provision of this Agreement and any present or future statute,
    ordinance or regulation contrary to which the parties have no legal right to
    contract, the latter shall prevail, but in such event the provision of this
    Agreement thus affected shall be curtailed and limited only to the extent
    necessary to bring it within the requirements of the law. In the event that
    any part, article, paragraph, sentence or clause of this Agreement shall be
    held to be indefinite, invalid or otherwise unenforceable, the entire
    Agreement shall not fail on account thereof and the balance of the Agreement
    shall continue in full force and effect. If any arbitration tribunal or
    court of competent jurisdiction deems any provision thereof (other than for
    the payment of money) unreasonable modification thereof and this Agreement
    shall be valid and enforceable and the parties hereto agree to be bound by
    and perform the same as thus modified.

23. This Agreement may be executed in any number of counterparts, each of which
    shall be deemed to be an original and all of which together shall be deemed
    to be one and the same instrument.

WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the
date and year first above written. ABOVE AGREED TO AND ACCEPTED:

MONOGRAM INTERNATIONAL INC.

By: /s/ Thomas A. Schultz
     Name: Thomas A. Schultz
     Title:   CFO & Asst. Secretary

--------------------------------------------------------------------------------
      Date:   March 24, 2000
--------------------------------------------------------------------------------

MONOGRAM PRODUCTS (H.K.) LIMITED

By: /s/ Robert K. Holden
Name: Robert K. Holden
    Title:   Executive Vice President
     Date:   March 24, 2000

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TAI NAM INDUSTRIAL COMPANY LIMITED

By: /s/ Edward Chu
Name: Edward Chu
     Title:   Director of Sales
--------------------------------------------------------------------------------
      Date:   March 30, 2000
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                                                                   Exhibit 10.22

                                      FIRST
                           ADDENDUM TO LOAN AGREEMENT

         This First Addendum to Loan Agreement (the "Addendum"), dated this 28th
day of March, 2000, effective as of the 2nd day of January, 2000, amends and
modifies that certain Loan Agreement dated May 27, 1999 (the "Loan Agreement")
by and among SUNTRUST BANK, a Georgia state chartered bank, successor by merger
to SunTrust Bank, Tampa Bay ,("SunTrust Bank"), MONOGRAM ACQUISITION, INC., a
Delaware corporation, and MONOGRAM ACQUISITION 1, LLC, a Delaware limited
liability company (collectively the "Borrower"), joined by TOYMAX INTERNATIONAL,
INC., a Delaware corporation (the "Guarantor"). All of the capitalized terms
used herein shall have the same identification and defined meanings as set forth
in the Loan Agreement unless otherwise specifically indicated or defined herein.

*MONOGRAM INTERNATIONAL, INC.  FKA

                                    RECITALS:

A. Borrower has requested SunTrust Bank to extend and renew a Revolving Line of
Credit Loan in the amount of $4,000,000.00 and a Term Loan in the original
principal amount of $763,855.56, under the terms of the Loan Agreement
(collectively the "Loans").

B. The Bank has agreed to the renewal of the Revolving Line of Credit Loan and
the Term Loan pursuant to the terms of this Addendum and the other loan
documents herein referred.

         NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration, the parties agree as follows:

         1. RECITALS. The above Recitals are true and correct and by this
reference are incorporated herein.

         2. RENEWAL OF LINE OF CREDIT LOAN. The Bank hereby renews the Revolving
Line of Credit Loan effective as of January 2, 2000, pursuant to the terms of a
Renewal Revolving Line of Credit Promissory Note of even date herewith (the
"Line of Credit Renewal Note") which provides for an extended maturity date to
August 1, 2000.

         3. RENEWAL OF TERM LOAN. The Bank hereby renews the Term Loan effective
as of January 2, 2000, pursuant to the terms of a Renewal Term Promissory Note
in the amount of $654,733.33 of even date herewith (the "Term Renewal Note")
 .which provides for an extended maturity date to August 1, 2000.

         The Line of Credit Renewal Note and the Term Renewal Note are
collectively referred to herein as the "Renewal Notes". The documents which
evidence, secure and have been executed and/or delivered in conjunction with the
Loans on this renewal are herein collectively referred to as the "Loan
Documents".

         4. SECURITY.

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                  A. COLLATERAL. The Renewal Notes shall continue to be secured
by the security interests as set forth in the Loan Agreement.

                  B. GUARANTY. The Renewal Notes continue to be guaranteed for
payment and performance by the Guarantor under the Loan Agreement and the
Guarantor has executed and delivered to the Bank its Consent of Guarantor to
acknowledge the continuance of its guaranty of the Renewal Notes.

         5. WARRANTIES. Borrower hereby affirms and warrants that all of the
warranties made in the Loan Documents, and any other documents or instruments
recited herein or executed with respect thereto directly or indirectly, are true
and correct as of the date hereof and that Borrower is not in default of any of
the foregoing nor aware of any default with respect thereto, and that Borrower
has no defenses or rights of offset with respect to any indebtedness to SunTrust
Bank. Borrower hereby releases SunTrust Bank from any cause of action against it
existing as of the date of execution hereof. The rights and defenses being
waived and released hereunder include without limitation any claim or defense
based on SunTrust Bank having charged or collected interest at a rate greater
than that allowed to be contracted for by applicable law as changed from time to
time, provided, however, in no event shall such waiver and release be deemed to
change or modify the terms of the Loan Documents which provide that sums paid or
received in excess of the maximum rate of interest allowed to be contracted for
by applicable law, as changed from time to time, reduce the principal sum due,
said provision to be in full force and effect.

         6. TERMINOLOGY. If more than one party joins in the execution of this
Addendum, the covenants and agreements herein contained shall be the joint and
several obligation of each and all of them and of their respective heirs,
executors, administrators, successors and assigns, and relative words herein
shall be read as if written in the plural when appropriate. Any reference herein
to SunTrust Bank shall be deemed and apply to every subsequent holder of the
Renewal Notes.

         7. STATE TAXES. Borrower is liable for the full amount of any
documentary stamps, intangible tax, interest and penalties, if any, levied by
the State of Florida incident to the loan transactions and modifications
described in this Addendum. If the same be not promptly paid by Borrower when
levied by the State of Florida, SunTrust Bank may (without obligation to do so)
pay the same.

         8. CONSENT AND WAIVER. Borrower hereby consent to the foregoing and
agree that the execution of this Addendum shall in no manner or way whatsoever
impair or otherwise adversely affect Borrowees liability to SunTrust Bank under
the Loan Documents or any other instrument set forth in the Recitals or herein,
all as modified by this Addendum.

         9. CROSS DOCUMENT DEFAULT. Any default under the terms and conditions
of this Addendum or of any instrument set forth herein or contemplated by this
Addendum

         10. RATIFICATION. Except as modified by this Addendum, Borrower hereby
ratifies and confirm the continued validity and viability of all terms,
conditions and obligations set

<PAGE>

forth in the Loan Documents and all other instruments executed in connection
with this Addendum, all as modified by this Addendum.

         11. SEVERABILITY. Whenever possible, each provision-of this Addendum
shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision hereof shall be prohibited or invalid under
applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity only, without invalidating the remainder of such
provision or of the remaining provisions of this Addendum.

         12. FLORIDA CONTRACT. This Addendum shall be deemed a Florida contract
and shall be construed according to the laws of the State of Florida, regardless
of whether this Addendum is executed by certain of the parties hereto in other
states.

         13. BINDING EFFECT. This Addendum shall bind the successors and assigns
to the parties hereto and constitutes the entire understanding of the parties,
which may not be modified except in writing.

         14. WAIVER OF JURY TRIAL. The parties to this Addendum hereby
irrevocably waive their respective rights to trial by jury in any and all
actions arising out of the terms of this Addendum.

         15. CONFLICT. As to any conflict between the terms of the Loan
Agreement and the terms of this Addendum, the terms of this Addendum shall
supersede and control over such other terms.

         16. OTHER TERMS. Except as specifically amended, modified and
supplemented by this Addendum, all of the other terms, covenants and conditions
of the Loan Agreement remain in full force and effect.

WITNESSES:                                "BORROWER"

                                          Monogram International, Inc. FKA

                                          MONOGRAM ACQUISITION, INC.,

                                          a Delaware corporation

/s/ SANFORD B. FRANK                      By: /s/ WILLIAM JOHNSON, JR.
-----------------------------                -------------------------------
Signature-of Witness                          William Johnson, Jr., as its
  SANFORD B. FRANK                            Treasurer
Print or Type Name of Witness             (CORPORATE SEAL)

/s/ CARMINE RUSSO
-----------------------------
Signature of Witness
CARMINE RUSSO
Print or Type Name of Witness

                                          MONOGRAM ACQUISITION 1 LLC,
                                          a Delaware limited liability company
                                          MONOGRAM PRODUCTS (H.K.) LIMITED FKA

<PAGE>

                                          By: Gallion Development Limited, a
                                              Hong Kong company, as its
                                              Managing Member

/s/ SANFORD B. FRANK                             By: /s/ STEVEN A. LEBENSFELD
-----------------------------                -------------------------------
Signature-of Witness                                 Steven A. Lebensfeld, as
  SANFORD B. FRANK                                   its Director
Print or Type Name of Witness             (CORPORATE SEAL)

/s/ CARMINE RUSSO
-----------------------------
Signature of Witness
CARMINE RUSSO
Print or Type Name of Witness

                                          "SUNTRUST"
                                          SUNTRUST BANK, a Georgis
                                          state chartered Bank,
                                          successor by merger to
                                          SunTrust Bank, Tampa Bay

/s/ PATRICIA A. MUTH                      By: /s/ CHARLES T. FALK
-----------------------------                -------------------------------
Signature-of Witness                          Charles T. Falk as its Senior Vice
  PATRICIA A. MUTH                            President
Print or Type Name of Witness             (CORPORATE SEAL)

/s/ SARAH MENENDEZ
-----------------------------
Signature of Witness
SARAH MENENDEZ
Print or Type Name of Witness

                                          "GUARANTOR"

                                          TOYMAX INTERNATIONAL, INC.
                                          A Delaware corporation

/s/ SANFORD B. FRANK                      By: /s/ WILLIAM JOHNSON, JR.
-----------------------------                -------------------------------
Signature-of Witness                          William Johnson, Jr., as its Chief
  SANFORD B. FRANK                               Financial Officer
Print or Type Name of Witness

/s/ CARMINE RUSSO
-----------------------------
Signature of Witness                            (CORPORATE SEAL)
CARMINE RUSSO
Print or Type Name of Witness

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