Document:

Exhibit 10.3

                          CITIZENS FEDERAL SAVINGS BANK

                              --------------------

                                Change-in-Control
                            Protective Agreement with
                                 W. Kent McGriff

                              --------------------

     THIS AGREEMENT entered into this 14th day of December, 2000, by and between
Citizens Federal Savings Bank (the "Bank") and W. Kent McGriff (the "Employee"),
effective on the date of execution of this agreement (the "Effective Date").

     WHEREAS,  the  Employee  has  heretofore  been  employed  by the Bank as an
executive  officer,  and the Bank deems it in its best  interests  to enter into
this  Agreement  as  additional  incentive  to the  Employee  to  continue as an
executive employee of the Bank; and

     WHEREAS,   the  parties   desire  by  this   writing  to  set  forth  their
understanding  as to their  respective  rights  and  obligations  in the event a
change of control occurs with respect to the Bank.

     NOW, THEREFORE, the undersigned parties AGREE as follows:

1.   Defined Terms
     -------------

     When used anywhere in the  Agreement,  the  following  terms shall have the
meaning set forth herein.

     (a) "Change in Control" shall mean any one of the following events: (i) the
acquisition  of ownership,  holding or power to vote more than 25% of the Bank's
or the Company's  voting stock,  (ii) the  acquisition of the ability to control
the election of a majority of the Bank's or the Company's  Directors,  (iii) the
acquisition  of a controlling  influence  over the management or policies of the
Bank or the Company by any person or by persons acting as a "group"  (within the
meaning of Section 13(d) of the Securities Exchange Act of 1934), or (iv) during
any period of two consecutive  years,  individuals (the "Continuing  Directors")
who at the  beginning  of such period  constitute  the Board of Directors of the
Bank or the Company (the "Existing Board") cease for any reason to constitute at
least  two-thirds  thereof,  provided  that any  individual  whose  election  or
nomination for election as a member of the Existing Board was approved by a vote
of at least  two-thirds  of the  Continuing  Directors  then in office  shall be
considered a Continuing Director; and provided further, that a Change in Control
shall not be deemed to occur as the result of the acquisition of common stock of
the Bank or the Company by Bunny  Stokes,  Jr. For  purposes  of this  paragraph
only, the term "person"  refers to an individual or a corporation,  partnership,
trust,  association,   joint  venture,  pool,  syndicate,  sole  proprietorship,
unincorporated  organization or any other form of entity not specifically listed

                                       1

<PAGE>

herein. The decision of the Bank's or the Company's non-employee directors as to
whether or not a Change in Control has occurred shall be conclusive and binding.

     (b) "Code"  shall mean the Internal  Revenue Code of 1986,  as amended from
time to time, and as interpreted  through  applicable rulings and regulations in
effect from time to time.

     (c) "Code  Section 280G  Maximum"  shall mean product of 2.99 and his "base
amount" as defined in Codess.280G(b)(3).

     (d) "Company" shall mean CFS  Bancshares,  Inc., the holding company of the
Bank.

     (e) "Good  Reason" shall mean any of the  following  events,  which has not
been  consented  to in advance by the Employee in writing:  (i) the  requirement
that  the  Employee  move his  personal  residence,  or  perform  his  principal
executive  functions,  more than thirty (30) miles from his primary office as of
the date of the Change in Control;  (ii) a material  reduction in the Employee's
base  compensation  as in effect on the date of the  Change in Control or as the
same may be  increased  from time to time;  (iii) the failure by the Bank or the
Company to continue to provide  the  Employee  with  compensation  and  benefits
provided for on the date of the Change in Control,  as the same may be increased
from time to time, or with benefits  substantially  similar to those provided to
him  under  any of the  employee  benefit  plans in which  the  Employee  now or
hereafter becomes a participant,  or the taking of any action by the Bank or the
Company  which  would  directly  or  indirectly  reduce any of such  benefits or
deprive the Employee of any material  fringe benefit  enjoyed by him at the time
of the Change in  Control;  (iv) the  assignment  to the  Employee of duties and
responsibilities  materially  different from those normally  associated with his
position;  (v) a  failure  to elect or  reelect  the  Employee  to the  Board of
Directors of the Bank or the  Company,  if the Employee is serving on such Board
on the date of the Change in Control; (vi) a material diminution or reduction in
the   Employee's    responsibilities   or   authority    (including    reporting
responsibilities)  in  connection  with  his  employment  with  the  Bank or the
Company;   or  (vii)  a  material   reduction  in  the   secretarial   or  other
administrative support of the Employee.

     (f) "Just Cause" shall mean, in the good faith  determination of the Bank's
Board of Directors,  the Employee's personal dishonesty,  incompetence,  willful
misconduct,  breach of fiduciary duty  involving  personal  profit,  intentional
failure  to  perform  stated  duties,  willful  violation  of any  law,  rule or
regulation  (other  than  traffic  violations  or  similar  offenses)  or  final
cease-and-desist  order,  or material breach of any provision of this Agreement.
The Employee shall have no right to receive  compensation  or other benefits for
any period after  termination  for Just Cause. No act, or failure to act, on the
Employee's part shall be considered  "willful" unless he has acted, or failed to
act,  with an absence of good faith and  without a  reasonable  belief  that his
action or failure to act was in the best interest of the Bank and the Company.

     (g)  "Protected  Period"  shall mean the period that begins on the date six
months  before a Change in  Control  and ends on the  later of the first  annual
anniversary of the Change in Control or the expiration date of this Agreement.

     (h) "Trust" shall mean a grantor trust designed in accordance  with Revenue
Procedure 92-64 and having a trustee independent of the Bank and the Company.

                                       2

<PAGE>

2. Trigger Events
   --------------

     The Employee shall be entitled to collect the severance  benefits set forth
in Section 3 of this  Agreement in the event that (i) the  Employee  voluntarily
terminates  employment  either for any reason within the 30-day period beginning
on the date of a Change in Control,  (ii) the  Employee  voluntarily  terminates
employment  within 90 days of an event that both  occurs  during  the  Protected
Period and  constitutes  Good Reason,  or (iii) the Bank, the Company,  or their
successor(s)  in interest  terminate the  Employee's  employment  for any reason
other than Just Cause during the Protected Period.

3. Amount of Severance Benefit
   ---------------------------

     If the Employee becomes entitled to collect severance  benefits pursuant to
Section 2 hereof,  the Bank shall pay the Employee a severance  benefit equal to
the difference  between the Code  Section 280G  Maximum and the sum of any other
"parachute payments" as defined under Code  Section 280G(b)(2) that the Employee
receives on account of the Change in Control. Said sum shall be paid in one lump
sum within  ten (10) days of the later of the date of the Change in Control  and
the Employee's last day of employment with the Bank or the Company.

     In the event that the  Employee  and the Bank agree that the  Employee  has
collected an amount  exceeding the Code  Section 280G  Maximum,  the parties may
jointly  agree in writing  that such excess shall be treated as a loan ab initio
which the Employee  shall repay to the Bank,  on terms and  conditions  mutually
agreeable to the parties,  together with interest at the applicable federal rate
provided for in Section 7872(f)(2)(B) of the Code.

4. Funding of Grantor Trust upon Change in Control
   -----------------------------------------------

     Not later than ten business days after a Change in Control,  the Bank shall
(i) deposit in a Trust an amount equal to the Code Section 280G Maximum,  unless
the Employee has previously  provided a written release of any claims under this
Agreement, and (ii) provide the trustee of the Trust with a written direction to
hold said amount and any investment  return thereon in a segregated  account for
the benefit of the Employee,  and to follow the procedures set forth in the next
paragraph as to the payment of such amounts from the Trust.  Upon the earlier of
the Trust's final  payment of all amounts due under the  following  paragraph or
the date 15 months  after the Change in Control,  the trustee of the Trust shall
pay  to the  Bank  the  entire  balance  remaining  in  the  segregated  account
maintained for the benefit of the Employee.  The Employee shall  thereafter have
no further interest in the Trust.

     During the  15-consecutive  month  period  after a Change in  Control,  the
Employee may provide the trustee of the Trust with a written  notice  requesting
that the trustee pay to the Employee an amount designated in the notice as being
payable  pursuant to this Agreement.  Within three business days after receiving
said  notice,  the  trustee of the Trust  shall send a copy of the notice to the
Bank via overnight and registered  mail return receipt  requested.  On the tenth
(10th)  business day after  mailing said notice to the Bank,  the trustee of the
Trust  shall pay the  Employee  the amount  designated  therein  in  immediately
available funds, unless prior thereto the

                                      3

<PAGE>

Bank  provides  the  trustee  with a written  notice  directing  the  trustee to
withhold such payment. In the latter event, the trustee shall submit the dispute
to non-appealable  binding arbitration for a determination of the amount payable
to the Employee  pursuant to this Agreement,  and the costs of such  arbitration
shall be paid by the Bank. The trustee shall choose the arbitrator to settle the
dispute,  and  such  arbitrator  shall be  bound  by the  rules of the  American
Arbitration Association in making his determination. The parties and the trustee
shall be bound by the results of the  arbitration  and, within three days of the
determination  by the  arbitrator,  the  trustee  shall  pay from the  Trust the
amounts  required to be paid to the  Employee  and/or the Bank,  and in no event
shall the  trustee  be  liable  to either  party  for  making  the  payments  as
determined by the arbitrator.

5. Term of the Agreement.  This Agreement  shall remain in effect for the period
   ---------------------
commencing  on the  Effective  Date and ending on the earlier of (i) the date 36
months  after  the  Effective  Date,  and (ii) the  date on which  the  Employee
terminates  employment  with  the  Bank;  provided  that the  Employee's  rights
hereunder  shall continue  following the termination of this employment with the
Bank under any of the circumstances described in Section 2 hereof. Additionally,
on each  annual  anniversary  date  from the  Effective  Date,  the term of this
Agreement  shall be extended for an additional  one-year  period beyond the then
effective expiration date provided the Board of Directors of the Bank determines
in a duly adopted  resolution  that the  performance of the Employee has met the
requirements  and  standards  of the  Board,  and that this  Agreement  shall be
extended.

6. Termination or Suspension Under Federal Law
   -------------------------------------------

     (a) Any  payments  made to the  Employee  pursuant  to this  Agreement,  or
otherwise,  are subject to and  conditioned  upon their  compliance with both 12
U.S.C.  Section  1828(k)  and  any  regulations  promulgated   thereunder,   and
Regulatory  Bulletin 27A, but only to the extent required thereunder on the date
any payment is required pursuant to this Agreement.

     (b)  If  the  Employee  is  removed  and/or  permanently   prohibited  form
participating  in the conduct of the Board's  affairs by an order  issued  under
Sections  8(e)(4) or 8(g)(1) of the Federal  Deposit  Insurance Act ("FDIA") (12
U.S.C.  1818(e)(4) or (g)(1)),  all obligations of the Bank under this Agreement
shall terminate, as of the effective date of the order, but the vested rights of
the parties shall not be affected.

     (c) If the Board is in default (as defined in Section 3(x)(1) of FDIA), all
obligations  under this  Agreement  shall  terminate  as of the date of default;
however, this Paragraph shall not affect the vested rights of the parties.

     (d) All  obligations  under this Agreement shall  terminate,  except to the
extent that  continuation  of this  Agreement  is  necessary  for the  continued
operation of the Board: (i) by the Director of the Office of Thrift  Supervision
("Director  of  OTS"),  or his or her  designee,  at the time  that the  Federal
Deposit  Insurance  Corporation  ("FDIC")  enters into an  agreement  to provide
assistance to or on behalf of the Board under the authority contained in Section
13(c) of FDIA;  or (ii) by the Director of the OTS, or his or her  designee,  at
the time  that  the  Director  of the OTS,  or his or her  designee  approves  a
supervisory  merger to resolve problems related to

                                       4

<PAGE>

operation of the Bank or when the Bank is  determined by the Director of the OTS
to be in an unsafe or unsound condition. Such action shall not affect any vested
rights of the parties.

     (e) If a notice  served  under  Section  8(e)(3)  or (g)(1) of the FDIA (12
U.S.C. 1818(e)(3) and (g)(1)) suspends and/or temporarily prohibits the Employee
from participating in the conduct of the Bank's affairs,  the Bank's obligations
under this Agreement  shall be suspended as of the date of such service,  unless
stayed by appropriate  proceedings.  If the charges in the notice are dismissed,
the Bank shall (i) pay the  Employee  all or part of the  compensation  withheld
while its contract  obligations were suspended,  and (ii) reinstate (in whole or
in part) any of its obligations which were suspended.

7. Expense Reimbursement.
   ---------------------

     In the event that any dispute  arises  between the Employee and the Bank as
to the terms or interpretation of this Agreement,  whether  instituted by formal
legal proceedings or otherwise,  including any action that the Employee takes to
enforce the terms of this Agreement or to defend against any action taken by the
Bank or the  Company,  the  Employee  shall  be  reimbursed  for all  costs  and
expenses,  including  reasonable  attorneys'  fees,  arising from such  dispute,
proceedings  or  actions,  provided  that  the  Employee  shall  obtain  a final
judgement in favor of the Employee in a court of  competent  jurisdiction  or in
binding  arbitration  under the rules of the American  Arbitration  Association.
Such reimbursement  shall be paid within ten (10) days of Employee's  furnishing
to the Bank and the Company written  evidence,  which may be in the form,  among
other things, of a cancelled check or receipt, of any costs or expenses incurred
by the Employee.

8. Successors and Assigns.
   ----------------------

     (a) This  Agreement  shall inure to the benefit of and be binding  upon any
corporate  or  other  successor  of the Bank or  Company  which  shall  acquire,
directly or indirectly, by merger, consolidation,  purchase or otherwise, all or
substantially all of the assets or stock of the Bank or Company.

     (b) Since the Bank is contracting for the unique and personal skills of the
Employee,  the Employee  shall be precluded  from  assigning or  delegating  his
rights or duties  hereunder  without first  obtaining the written consent of the
Bank.

9. Amendments.  No amendments or additions to this Agreement  shall be binding
   ----------
unless  made in  writing  and  signed  by all of the  parties,  except as herein
otherwise specifically provided.

10. Applicable Law. Except to the extent preempted by Federal law, the laws of
    --------------
the State of Alabama shall govern this Agreement in all respects, whether as to
its validity, construction, capacity, performance or otherwise.

11. Severability. The provisions of this Agreement shall be deemed severable and
    ------------
the  invalidity  or  unenforceability  of any  provision  shall not  effect  the
validity or enforceability of the other provisions hereof.

                                       5

<PAGE>

12.  Entire  Agreement.  This  Agreement,  together  with any  understanding  or
     -----------------
modifications  thereof as agreed to in writing by the parties,  shall constitute
the entire agreement between the parties hereto.

     IN WITNESS WHEREOF, the parties have executed this Agreement on the day and
year first hereinabove written.

ATTEST:                                         CITIZENS FEDERAL SAVINGS BANK

/s/  Tawanda T. Heard                           By:/s/  Bunny Stokes, Jr.
------------------------------------------         -----------------------------
Secretary                                          Its President

WITNESS:

/s/  Cynthia D. Nalls                              /s/  W. Kent McGriff
------------------------------------------         -----------------------------
                                                   Employee

                                       6Exhibit 10.12

                               4net Software, Inc.
                           10 South Street, Suite 202
                          Ridgefield, Connecticut 06877

                                                               December 19, 2002

Denis C. K. Lin, President
NWT, Inc.
1141 East 3900 South
Salt Lake City, Utah  84124

         Re:  Letter of Intent

Dear Mr. Lin:

         This Letter of Intent ("LOI") will confirm our recent discussions
relating to a proposed transaction which would merge NWT, Inc. ("NWT"), a Utah
corporation with offices located at 1141 East 3900 South, Salt Lake City, Utah
84124 into 4net Software, Inc. ("4NET"), a Delaware corporation whose securities
are publicly traded on the NASDAQ's Over-the-Counter Bulletin Board ("OTC BB").
For purposes of this LOI, the term "Parties" shall mean NWT and 4NET. This LOI
is to provide the basis on which both Parties are to use all reasonable
endeavors to proceed to procure satisfaction of the conditions precedent and
agreement on the legal issues relating to the documentation for such merger
transaction.

         Notwithstanding anything elsewhere in this LOI to the contrary, the
purpose of this LOI is solely to express the intent and desire of the Parties to
move forward with further negotiations and does not constitute a binding
agreement between the Parties other than with respect to the Confidentiality
provisions set forth in paragraph 6 below, the Break-Up Fee provisions as set
forth in paragraph 7 below, the No Shop provision set forth in paragraph 9
below, and the right of the Parties to arbitrate such issues as set forth in
paragraph 12 below.

         1.  Description of the Transaction.

                (a) Merger Transaction. The Parties mutually desire to enter
                into an agreement merging NWT into 4NET (the "Merger"), with
                4NET being the surviving corporation (the "Surviving
                Corporation"). Pursuant to the Merger all of the current issued
                and outstanding capital stock of NWT shall be exchanged for
                2,000,000 shares of common stock of the Surviving Corporation,
                based upon a minimum stock value of $3.50 per share of the
                Surviving Corporation (the "Consideration Shares").
                Additionally, key employees of NWT shall receive options to
                purchase 400,000 shares of the Surviving Corporation (the

<PAGE>

NWT, Inc.
December 19, 2002
Page 2

                "NWT Management Options"). The NWT Key Employee Options shall be
                exercisable at a price to be determined by mutual agreement of
                the Parties prior to execution of the below-described Merger.
                The NWT Key Employee Options shall vest over a three year period
                provided the Surviving Corporation achieves earnings before
                income tax for the fiscal years ending December 31, 2003,
                December 31, 2004 and December 31, 2005 in amounts to be agreed
                upon by the Parties hereto and to be set forth in a Vesting
                Schedule which will be incorporated herein as an addendum to
                this LOI. Further, the Parties acknowledge that there are
                currently outstanding options held by persons entitled to
                acquire NWT common stock ("NWT Incentive Options"), some of
                which were granted pursuant to the "Northwest Toxicology, Inc.
                Incentive Stock Option Plan" and some of which were not granted
                pursuant to that plan, and that others have the right to receive
                NWT stock per earn-out arrangements granted when NWT's
                subsidiary (then Northwest Analytical Consulting Laboratory
                Inc.) merged with Pharmaknowledge, Inc., ("Earn-Out Rights").
                NWT Incentive Options will be treated as set forth in paragraph
                2 below. The Earn-Out Rights will continue in the Surviving
                Corporation, with those persons entitled to receive NWT common
                stock under those Earn-Out Rights to be granted a commensurate
                right to receive common stock of the Surviving Corporation at
                the same exchange rate per NWT earn-out share as is applicable
                to current issued and outstanding capitol stock of NWT. The
                shares to be issued by the Surviving Corporation in connection
                with Earn-Out Rights shall be in addition to, and not part of,
                the Consideration Shares. Any conveyance, transfer or re-sale of
                the securities issued pursuant to the Merger shall be subject to
                all applicable securities laws.

                (b) Outstanding 4NET Shares. 4NET currently, has a total of
                8,661,018 shares of common stock, par value $.00001 ("Common
                Stock") issued and outstanding, not including the shares of
                Common Stock underlying the issued and outstanding option and
                warrants of 4NET as set forth below. 4NET has issued and
                outstanding the following options and warrants for the purchase
                Common Stock:

                Holder                  Number of Shares        Exercise Price
                --------------------------------------------------------------
                Steven N. Bronson          300,000                   $  .55
                Leonard Hagan               10,000                   $ 2.26
                Leonard Hagan               10,000                   $  .5625
                Alan Rosenberg              10,000                   $ 2.26
                Alan Rosenberg              10,000                   $  .5625

<PAGE>

NWT, Inc.
December 19, 2002
Page 3

                Paul Bronson                30,000                   $  .81
                Catalyst Financial LLC      82,000                   $  .50
                                           -------
                                    Total  452,000

                (c) 4NET Private Placement. Prior to the Merger, 4NET will
                compete a private offering of its securities to raise capital to
                satisfy the conditions precedent for the Merger. It is
                anticipated that 4NET will privately offer up to 3,000,000
                shares of its Common Stock, prior to the Reverse Split, as
                defined below, to raise gross proceeds of approximately $900,000
                prior to the closing of the Merger (the "4NET Offering").

                (d) Reverse 4NET Stock Split. Prior to the Merger 4NET will
                effect a one (1) share for eight (8) shares reverse stock split
                of the Common Stock (the "Reverse Stock Split"). After the
                Reverse Stock Split 4NET will have the following securities
                issued and outstanding:

                (i)   Approximate number of shares of  4NET
                      Common Stock issued and outstanding:  1,457,627 (assuming
                                                            the issuance of
                                                            3,000,000 shares of
                                                            Common Stock in the
                                                            4NET Offering)

                (ii)  Outstanding Options and Warrants to acquire 4NET Common
                      Stock:

                Holder                   Number of Shares      Exercise Price
                ---------------------------------------------------------------
                Steven N. Bronson            37,500                 $  4.40
                Leonard Hagan                 1,250                 $ 18.08
                Leonard Hagan                 1,250                 $  4.50
                Alan Rosenberg                1,250                 $ 18.08
                Alan Rosenberg                1,250                 $  4.50
                Paul Bronson                  3,750                 $  6.48
                Catalyst Financial LLC       10,250                 $  4.00
                                            -------
                                      Total  56,500

                (e) 4NETPreferred Stock. 4NET currently has 5 million shares of
                preferred stock authorized for issuance or otherwise designated
                for issuance. No shares of 4NET preferred stock are currently
                issued and outstanding and no shares of preferred stock will be
                issued or outstanding at or prior to the closing of the Merge.

<PAGE>

NWT, Inc.
December 19, 2002
Page 4

                (f) NWT Stock. There are currently 334,127 shares of NWT common
                stock issued and outstanding. It is further understood that, in
                the aggregate, holders of the NWT Incentive Options have the
                right to purchase 118,500 shares of NWT common stock at various
                prices and times as reflected in those instruments, and that, in
                the aggregate, persons possessing Earn-Out Rights have the
                potential of earning 4,600 shares of NWT common stock without
                the necessity of payment to NWT.

        2. Share Structure of Surviving Corporation. The share structure of the
Surviving Corporation immediately following the closing of the Merger will be
approximately as follows:

        NWT Shareholders will own       2,000,000 shares of Common Stock of the
                                        Surviving Corporation pursuant to the
                                        exchange of stock for currently
                                        outstanding 334,127 shares of NWT common
                                        stock.

        Management of NWT will own      400,000 NWT Key Employee Options to
                                        purchase Common Stock of the Surviving
                                        Corporation at a price to be determined
                                        by mutual agreement of the Parties
                                        prior to execution of the
                                        below-described Merger Agreement, which
                                        Management Options shall be in addition
                                        to, and not by way of reduction of, the
                                        2,000,000 Consideration Shares.

        NWT Incentive Options:          NWT Incentive Options shall be treated
                                        and consideration shall be given
                                        therefore in a lawful manner to be
                                        determined by mutual agreement of the
                                        Parties and the holders of such NWT
                                        Incentive Options prior to the execution
                                        of the below-described Merger Agreement.

        Earn-Out Rights:                Persons entitled to Earn-Out Rights
                                        shall receive the same number of shares
                                        of Common Stock of the Surviving
                                        Corporation for each earn-out NWT share
                                        as are exchanged for each share of
                                        currently issued and outstanding capitol
                                        stock of NWT.

        4NET Shareholders will own:     1,457,627 shares of Common Stock of the
                                        Corporation and options and warrants
                                        to acquire an additional 56,500 shares
                                        of Common Stock of the Surviving
                                        Corporation.

<PAGE>

NWT, Inc.
December 19, 2002
Page 5

        3. Conditions Precedent to Merger. Set forth below are the conditions
precedent to the closing of the Merger:

                (a) Conditions to be satisfied by NWT.

                        (i) Power and Authority of NWT. NWT has been duly
                        organized and is validly existing and in good standing
                        under the laws of the State of Utah, with full power and
                        authority to conduct its business. Complete and correct
                        copies of the Certificate of Incorporation and the
                        Bylaws of NWT and all amendments thereto are available
                        upon request, and no changes therein will be made
                        subsequent to the date hereof and prior to the closing
                        of the Merger.

                        (ii) Corporate Approval. The Board of Directors and
                        shareholders of NWT shall have approved the terms of the
                        Merger Agreement and the related transaction
                        documentation.

                (b) Conditions to be satisfied by 4NET.

                        (i) Power and Authority of 4NET. 4NET has been duly
                        organized and is validly existing and in good standing
                        under the laws of the State of Delaware, with full power
                        and authority to conduct its business. Complete and
                        correct copies of the Certificate of Incorporation and
                        the Bylaws of 4NET and all amendments thereto are
                        available upon request, and no changes therein will be
                        made subsequent to the date hereof and prior to the
                        closing of the Merger.

                        (ii) Corporate Approval. The Board of Directors and the
                        requisite number of shareholders of 4NET shall have
                        approved the terms of the Merger and the related
                        transaction documentation.

                        (iii) Reverse Stock Split. At the time of the Merger,
                        4NET shall have completed a one (1) share for eight (8)
                        shares reverse split of the Common Stock of 4NET.

                        (iv) Required Capital. At the time of the Merger 4NET
                        shall have net cash or cash equivalents equal to
                        $500,000 or greater.

<PAGE>

NWT, Inc.
December 19, 2002
Page 6

                        (v) Registration of Securities. Registration with the
                        Securities and Exchange Commission of the shares of
                        common stock that will be exchanged for NWT common
                        stock.

                (c) Conditions to be Satisfied by Both Parties. A definitive
                Merger Agreement ("Merger Agreement") must first have been
                executed by both Parties.

        4. Condition Precedents to Execution of Merger Agreement and Additional
Terms.

                (a) Merger Agreement. The execution of a Merger Agreement will
                be subject to negotiation of the terms and conditions of a
                definitive Merger Agreement, containing representations,
                warranties, and undertakings, in such form as shall be
                acceptable to the Parties.

                (b) Name. The Merger Agreement shall provide that the name of
                the Surviving Corporation shall be NWT, Inc.

                (c) Officers. The Merger Agreement shall provide that, in
                conjunction with the Merger, all officers of 4NET will resign
                effective immediately upon the closing of the Merger; and NWT
                will appoint all of the officers of the Surviving Corporation.

                (d) Directors. The Merger Agreement shall provide that, in
                conjunction with the Merger, 4NET will increase the size of its
                board of directors from three (3) to seven (7) and all directors
                of 4NET, except for Steven N. Bronson, will resign effective
                immediately upon the closing of the Merger; and NWT will
                designate six (6) persons to be appointed to the board of
                directors of the Surviving Corporation.

                (e) Firm Commitment Underwriting. Prior to the execution of the
                Merger Agreement, NWT shall receive, in form and substance
                acceptable to NWT, a letter of intent for a firm commitment
                ("Firm Commitment"), from an underwriter or its equivalent
                acceptable to NWT, to purchase the securities of the Surviving
                Corporation following the closing of the Merger Agreement to
                raise at least $3,000,000 in capital, net of all related
                offering costs and expenses. NWT shall reasonably cooperate with
                4NET to acquire the Firm Commitment, and NWT shall pay any
                required fee to obtain the Firm Commitment.

<PAGE>

NWT, Inc.
December 19, 2002
Page 7

                (f) NWT Accredited Investors Undertaking. Accredited NWT
                shareholders and/or other NWT shareholders consisting of members
                of NWT's board of directors or highly placed management officers
                collectively owning at least fifty-one percent (51%) of the
                current issued and outstanding NWT common stock shall commit to
                NWT by letter to vote their shares in favor of the Merger
                Agreement provided certain conditions precedent to be specified
                by them in the letter are satisfied. A copy of such letter shall
                be provided to 4NET prior to the execution of the Merger
                Agreement.

                (g) Registration Rights. The Merger Agreement shall provide that
                the Surviving Corporation will undertake, on a best efforts
                basis, to file a registration statement with the U.S. Securities
                and Exchange Commission within 90 days of the closing of the
                Merger, to register the shares of Common Stock of the Surviving
                Corporation held by Steven N. Bronson, the investors in the 4NET
                Offering, and the NWT Shareholders; which registration shall be
                accomplished, if reasonably practical, concurrent with the
                registration of securities to be exchanged for the NWT stock.

        5. Lock-Up Agreement.

                (a) NWT Shareholder. The Merger Agreement shall provide that NWT
                Shareholders owning shares of the Surviving Corporation will be
                subject to resale restriction pursuant to which the NWT
                Shareholders will not sell, convey, assign or transfer any
                shares of Common Stock of the Surviving Corporation for a period
                of twelve (12) months following the closing of the Merger.

                (b) Steven N. Bronson. The Merger Agreement shall also provide
                that Steven N. Bronson will not sell, convey, assign or transfer
                at least fifty percent (50%) of the shares of Common Stock of
                4NET which he presently owns (approximately 348,888 shares after
                giving effect to the Reverse Split) for a period of twelve (12)
                months following the closing of the Merger. Mr. Bronson agrees
                to execute a lock-up agreement if requested.

        6. Confidentiality. 4NET and NWT agree that all communications between
them shall be kept in the strictest confidence and that no party to this Letter
of Intent will disclose to any third parties the contents of this Letter of
Intent or that any negotiations are taking place between the Parties.

<PAGE>

NWT, Inc.
December 19, 2002
Page 8

        7. Break-Up Fee. In the event that, prior to the execution of a Merger
Agreement, the Merger does not occur due to a refusal of one party hereto
("Refusing Party") to proceed with the Merger despite the other party's
willingness to proceed with the Merger ("Willing Party"), then the Refusing
Party shall pay the Willing Party a break-up fee in the amount of $50,000 (the
"Pre-Agreement Break-Up Fee"), which Pre-Condition Break-Up-Fee shall be the
sole and exclusive remedy available to the Willing Party for such a refusal to
proceed. Should either party fail to proceed with the Merger following execution
of a Merger Agreement in violation thereof, that party shall pay the other party
a break-up-fee ("Post-Agreement Break-Up-Fee) in the amount of $150,000, which
Post-Agreement Break-Up-Fee shall be the sole and exclusive remedy available to
the non-breaching party for such failure to proceed. The Parties hereto agree
that each above-described break-up-fee represents a fair and equitable amount to
reimburse the party receiving such fee for its expenses and professional fees
associated with the circumstances for which such fee is paid.

        8. Costs. Each party will be responsible for all its own costs and
expenses, except as otherwise provided in the definitive merger agreement.

        9. No Shop. NWT hereby represents and agrees that it will not circumvent
this LOI or negotiate or seek to negotiate any transaction concerning the
financing or the sale, merger or other business combination of NWT with any
person or entity other than 4NET until May 15, 2003.

        10. Entire Agreement. The LOI constitutes the entire agreement between
the Parties, and supercedes all prior oral or written agreements,
understandings, representations and warranties, and courses of conduct on the
subject matter of this LOI. This LOI may be amended or modified only by a
writing executed by all of the Parties.

        11. Governing Law. This LOI will be governed by and construed under the
laws of the State of Delaware without regard to conflicts of law principles.

        12. Arbitration. Any controversy, claim, or dispute between the Parties
with respect to this paragraphs 6, 7 and 9 of this LOI shall be arbitrated in
accordance with the then existing arbitration rules of the American Arbitration
Association. The arbitration shall be held in Delaware. The prevailing party
shall be entitled to recover its attorneys' fee and expenses associated with the
arbitration.

        13. Counterparts. This LOI may be executed in any number of
counterparts, including facsimile signatures which shall be deemed as original
signatures. All executed counterparts shall constitute one agreement,
notwithstanding that all signatories are not signatories to the original or the
same counterpart.

<PAGE>

NWT, Inc.
December 19, 2002
Page 9

        14. Timing. The Parties are targeting to execute a definitive Merger
agreement by January 20, 2003 and effect the Merger by May 20, 2003.

        If you are in agreement with the foregoing, please sign and return one
copy of this Letter of Intent, which will thereupon constitute our agreement
with respect to its subject matter.

                                            Very truly yours,

                                            4net Software, Inc.

                                            By: /s/ Steven N. Bronson
                                                ----------------------------
                                                Steven N. Bronson, President

Duly executed and agreed to by:

NWT, Inc.

By: /s/ Denis C. K. Lin
    --------------------------
    Denis C. K. Lin, President

With respect to Paragraph 5 Only:

/s/ Steven N. Bronson
-----------------------------
Steven N. Bronson, personally
and individually

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