Document:

Exhibit 10.1 - Executive Employment Agreement

                         EXECUTIVE EMPLOYMENT AGREEMENT

     This  Executive  Employment  Agreement  ("Agreement")  is made  and  deemed
effective as of January 5th , 2002, by and between FTS Apparel, Inc., a Colorado
corporation  ("FTSA"),  on one side, and Scott Gallagher  ("Executive"),  on the
other side, with reference to the herein recitals, terms and conditions.

                                    RECITALS
                                    --------

     WHEREAS,  Executive is  negotiating  the  purchase of  1,861,618  shares of
FTSA's common stock from certain  shareholders of that company and Executive may
thereby gain a significant equity position thereby;

     WHEREAS,  FTSA  recognizes  the  experience  and  knowledge of Executive in
matters  relating to the FTSA's future business  activities as a public company,
and further,  recognizes  that it is in the best interests of FTSA to retain the
services of Executive;

     NOW,  THEREFORE,  in  consideration  of the mutual covenants and agreements
contained in this Agreement, it is hereby agreed as follows:

                                   AGREEMENT
                                   ---------

     Employment.
     -----------
     FTSA hereby  employs  Executive  as FTSA's  Chairman of the Board and Chief
Executive Officer, and Executive hereby accepts employment by FTSA in accordance
with the terms and conditions set forth in this Agreement.

     Term.
     -----
     Executive's  initial  term of  employment  and the  services to be provided
hereunder  shall  commence on January 7th ,2002 and continue for a period of two
(2) years from such date (the "Initial Term"), subject to earlier termination as
hereinafter provided.

     Compensation.
     -------------
     FTSA shall pay  Executive  the  following  aggregate  compensation  for all
services rendered by him to FTSA under this Agreement:

     3.1 Base Salary.
     ----------------
     FTSA shall pay  Executive a base salary  during the term of this  Agreement
commencing at the rate of one hundred thousand dollars ($100,000) per annum (the
"Base Salary").  The Base Salary shall be payable in arrears,  in  substantially
equal monthly installments or more frequently in accordance with the policies of
FTSA. FTSA shall review  Executive's base salary  bi-annually with Executive for
the purpose of determining a reasonable  increase  based on Executive's  service
and performance,  taking into consideration a good-faith assessment of any other
incentive  and/or  bonus plans to which  Executive  may be a party.  Such review
shall be in accordance with FTSA's policies and practices with other  executives
in similar positions with FTSA and its subsidiaries, if any. Notwithstanding the
foregoing,  any increase in Executive's  Base Salary shall be determined by FTSA
at  its  sole  discretion.  In the  event  that  FTSA  is not  able  to pay  the
Executive's  salary in cash,  the  Executive's  salary  will  accrue  and may be
converted  into common stock at market  value.  Market Value will be the average
closing  price of FTSA common stock over the  preceding  30 day period.  Accrued
salary may be converted quarterly at the board's discretion.

     3.2 Annual Bonus.
     -----------------
     FTSA shall pay Executive an annual bonus (the "Annual  Bonus") in a minimum
amount of twenty five percent (25%) of  Executive's  annual Base Salary based on
the achievement of certain  predetermined  quantitative  and  qualitative  goals
related to the operating  performance of FTSA as mutually  determined and agreed
upon by Executive and FTSA and in accordance with FTSA's policies and practices.

<PAGE>

     3.3 Payment of Annual Bonus.
     ----------------------------
     Executive's  Annual Bonus for each fiscal year shall be  determined as soon
as practicable following the end of each fiscal year, but in no event later than
sixty (60) days  following the end of each fiscal year.  Any Annual Bonus due to
Executive shall be paid promptly upon its final determination.  FTSA shall cause
and arrange to provide  Executive with an annual statement showing the manner in
which the Annual Bonus was calculated.

     3.4 Other Benefits.
     -------------------
     Executive shall be entitled to participate, to the full extent eligible and
available  in  accordance  with the terms of the  program in which he desires to
participate  in all group life and medical  insurance  programs which FTSA shall
from  time to time  have  for the  benefit  of its  officers,  directors  and/or
employees,  subject  to the rules  and  requirements  then in  effect  regarding
participation  of  executives  or  employees  therein.  Executive  shall also be
entitled to participate in any management  compensation and benefit program on a
basis  similar  to that  which is made  available  to other  members  of  FTSA's
management team operating in a similar capacity as the Executive.  FTSA reserves
the right to modify,  terminate,  and/or reduce  benefits at any time,  provided
such modification,  termination and/or reduction is applied to all other members
of the management team operating in a similar capacity as Executive.

     3.5 Stock.
     ----------
     FTSA shall  deliver to Executive,  upon  execution of this  Agreement,  one
million two-hundred thousand (1,200,000) shares of its unrestricted common stock
(the "Stock"),  which tender shall be  irrevocable.  The Stock shall be free and
clear  of  all  liens,  restrictions,   security  interests,  charges  or  other
encumbrances.

     Duties of Executive.
     --------------------

     4.1 Business Development/Operations.
     ------------------------------------
     Subject to the  oversight  and  direction of the FTSA's board of directors,
Executive shall be responsible for managing and developing all aspects of FTSA's
operations and business development affairs.

     4.2 Additions and Changes.
     --------------------------
     Executive shall perform such reasonable  additional work as may be required
by FTSA from time to time under the terms and  conditions  and  according to the
directions, instructions and control of FTSA's board of directors.

     4.3 Best Efforts.
     -----------------
     Executive  shall devote his best skill,  effort and attention to his duties
set forth herein and to further  enhance and develop  FTSA's  business  affairs,
interests  and welfare.  Executive  shall be entitled to perform his duties from
whatever location he deems appropriate.

     4.4 Policies.
     -------------
     Executive  shall adhere to the  employment  policies of FTSA in effect from
time to time.  References  to the  policies or  practices of FTSA shall mean its
policies or  practices of which  Executive  has notice as in effect and modified
from time to time.

     4.5 Other Employment.
     ---------------------
     Executive may engage in other  employment with the prior written consent of
FTSA.  Further,  this provision  shall not be construed to prevent the Executive
from personally, and for Executive's own account, owning, managing, investing or
trading in real estate,  stocks, bonds,  securities,  commodities,  or any other
forms of investment,  so long as such owning, managing,  investing or trading is
not in  competition  with FTSA and does not interfere  with the  performance  of
Executive's duties hereunder.  However,  Executive is not required to devote his
full time to FTSA,  but is  required to devote up to 100% of his time to FTSA if
necessary.

<PAGE>

     Expenses.
     ---------
     FTSA shall  reimburse  Executive  for  reasonable  and  necessary  business
expenses in accordance with the expense reimbursement  policies and practices of
FTSA and in accordance with a  predetermined  budget to be approved by the board
of directors of FTSA.

     Director's and Officer's Insurance.
     -----------------------------------
     FTSA  shall be  required  to  maintain,  for the  benefit of  Executive,  a
director's and officer's  policy of insurance in accordance  with the same terms
and amounts as with other FLIP officers/directors.

     Fringe Benefits.
     ----------------
     FTSA shall provide Executive with all fringe benefits regularly provided to
other similarly  situated officers,  directors of FTSA,  generally and with such
other fringe  benefits as the  Executive and FTSA shall  mutually  agree upon in
writing.

     7.1 Vacation.
     -------------
     FTSA shall provide Executive with two (2) weeks of paid vacation as well as
holidays in accordance with FTSA's policies.

     7.2 Insurance.
     --------------
     FTSA shall  provide  Executive  with family  health  insurance  pursuant to
FTSA's health  insurance plan if one exists and in accordance  with the policies
and practices of FTSA.

     Termination.
     ------------

     8.1 Termination with Cause.
     ---------------------------
     FTSA may terminate  Executive  "with cause" without  notice,  for reason of
Executive's  (i)  misappropriation  or  embezzlement  of  funds  of  FTSA,  (ii)
intentional  misrepresentation  of a product or service  offered by FTSA,  (iii)
soliciting a client's or customer's  business for personal or competitive  gain,
(iv) use or sale of illegal  drugs in the work place,  or repeated  intoxication
from alcohol or controlled substances in the work place, (v) physical, mental or
sexual abuse or harassment of any employee,  customer or  prospective  client or
customer,  (vi) criminal  negligence  or criminal acts in the work place;  (vii)
commission of a felony or crime of moral turpitude,  (viii) selling or providing
confidential  information of FTSA to a competitor,  or (ix) theft or destruction
of property of FTSA.  FTSA may  terminate  Executive  "with cause" if, after ten
(10) days prior  written  notice by FTSA to  Executive,  Executive has failed to
cure  any of the  following  occurrences:  (i)  violation  of FTSA  policies  or
procedures,  (ii) breach of any other of the  covenants  of this  Agreement  not
specifically  set  forth in (i)  through  (viii)  above,  or (iii)  breach of an
employee's customary obligations to the employer. In the event that Executive is
terminated  "with cause,"  Executive  shall be entitled solely to the payment of
(i)  Executive's  then  current  Base  Salary  through  the  date  Executive  is
terminated  and (ii) all  accrued and unused  vacation  and sick leave as of the
date of  termination.  Executive  shall not be  entitled  to  receive  any other
amounts or benefits from FTSA.

     8.2 No Termination Without Cause.
     ---------------------------------
     FTSA may not terminate  Executive  "without  cause." In the event that FTSA
terminates  Executive  "without  cause,"  Executive  shall  be paid (i) all Base
Salary accrued and unpaid  through the date of termination  and (ii) all accrued
and unused  vacation and sick leave as of the date of termination in addition to
other legal and equitable remedies available to Executive.

     8.3 Termination Due to Executive's Death or Disability.
     -------------------------------------------------------
     In the event that this Agreement is terminated due to Executive's  death or
disability (as defined below),  Executive (or Executive's legal representatives)
shall be paid (i) two (2)  months'  Base Salary as  severance,  (ii) Base Salary
through the date of  termination,  (iii) all Bonus  payments  earned through the
date of  termination  or previously  awarded and unpaid and (iv) all accrued and
unused  vacation and sick leave as of the date of  termination.  For purposes of
this  Agreement,  the term  "Disability"  shall  mean the  mental  and  physical
inability to perform satisfactorily  Executive's regular full time duties - with
or without a reasonable  accommodation - as determined by a physician  chosen by
mutual agreement of a physician  selected by Executive and a physician  selected
by FTSA, provided,  however, that any Disability which continues for thirty (30)
days  (whether or not  consecutive)  in any eighteen  (18) month period shall be
deemed a Disability.

<PAGE>

     Indemnification.
     ----------------

     9.1 Definition.
     ---------------
     As  used  in  this  provision,   "Damages"   means  all  claims,   damages,
liabilities,  losses, judgments,  settlements, and expenses,  including, without
limitation,  all reasonable fees and  disbursements  of counsel  incident to the
investigation  or  defense of any claim or  proceeding  or  threatened  claim or
proceeding.

     9.2 Terms of Indemnification.
     -----------------------------
     FTSA  agrees to  indemnify,  defend and hold  harmless  Executive  from all
Damages (i) proximately caused by the fault or negligence of FTSA, its officers,
directors, employees or agents; (ii) which relate in any manner to the terms and
obligations of this  Agreement;  (iii) which relate to any other failure by FTSA
to comply with any terms of this Agreement;  (iv) which relate to any failure by
FTSA to comply with applicable  laws and/or  regulations in accordance with this
Agreement; and/or (v) resulting from any breach of any representation, warranty,
covenant or promise made by FTSA in this Agreement.

     9.3 Notice of Claim.
     --------------------
     FTSA shall promptly notify  Executive in writing of any claim asserted by a
third person that might give rise to any indemnity obligation hereunder. Failure
of any FTSA to promptly  give such notice shall not relieve that  individual  of
his indemnification obligations under this Agreement. Together with or following
such notice, FTSA shall deliver to Purchaser copies of all notices and documents
received by such party relating to the asserted claim (including court papers).

     9.4 FTSA Indemnification.
     -------------------------
     Executive  will  indemnify and hold  harmless,  previous  board members and
officers of the corporation  from any claim that arises relating to the business
activities of FTSA after the "closing" date.

     Transfer and Assignment of Intellectual Property Rights.
     --------------------------------------------------------
     Executive agrees to transfer and assign to FTSA all of his rights,  if any,
to that  certain  intellectual  Internet  property  known  as  "IDIndustry.com,"
subject  to  FTSA's  full  compliance  with the  terms  and  conditions  of this
Agreement.  However,  Executive  expressly  disclaims any (i) warranty as to the
viability,  marketability, and/or functionality of that Internet property. In no
event shall  Executive be liable or responsible for any claims made against that
Internet  property in any respect  and FTSA will be  indemnified  for all claims
made prior to the  "closing"  date,  FTSA will not be held  responsible  for any
claims or liabilities relating to "IDIndustry.com prior to closing.

     Miscellaneous.
     --------------

     12.1 Survival of Representations and Warranties.
     ------------------------------------------------
     The representations and warranties of the parties including indemnification
obligations   contained  herein  shall  survive  following  the  termination  of
Executive's employment with FTSA.

     12.2 Waivers.
     -------------
     No action taken pursuant to this Agreement,  including any investigation by
or on behalf of any party  shall be deemed to  constitute  a waiver by the party
taking such action or compliance with any representation,  warranty, covenant or
agreement contained herein, therein and in any documents delivered in connection
herewith  or  therewith.  The  waiver  by any  party  hereto  of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
subsequent breach.

     12.3 Notices.
     -------------
     All notices, requests, demands and other communications, which are required
or may be given under this Agreement  shall be in writing and shall be deemed to
have been duly given if delivered or mailed, first class mail, postage prepaid:

<PAGE>

                    To FTSA:          ___________________

                    To Executive:   Scott Gallagher
                                    One Oxford Valley, Ste. 810
                                    Langhorne, PA 19047

                    With copy to:   Joseph A. Maleki, Esq.
                                    Maleki & Associates
                                    19600 Fairchild, Suite 260
                                    Irvine, California 92612

or to such other address as such party shall have specified by notice in writing
to the other party.

     12.4 Merger and Integration.
     ----------------------------
     This Agreement contains the entire understanding of the parties.  There are
no  representations,  covenants  or  understandings  other  than  those,  either
express,  implied or referred to herein.  Each party acknowledges that there are
no  conditions  to this  agreement  other than those  expressed  or  referred to
herein.  Each party  further  acknowledges  that no other  party or any agent or
attorney of any other  party has made any  promise,  representation  or warranty
whatsoever,  express or implied or  statutory,  not  contained  or  referred  to
herein,  concerning  the subject  matter  hereof,  to induce him to execute this
Agreement,  and he  acknowledges  that he has not  executed  this  Agreement  in
reliance  on any such  promise,  representation  or  warranty  not  specifically
contained or referred to herein.

     12.5 Sections and Other Headings.
     ---------------------------------
     The  section  and  other  headings  contained  in  this  Agreement  are for
reference  purposes only and shall not affect the meaning or  interpretation  of
this Agreement.

     12.6 Governing Law.
     -------------------
     This Agreement, and all transactions contemplated hereby, shall be governed
by,  construed  and  enforced  in  accordance  with  the  laws of the  State  of
Pennsylvania.  The parties herein submit to personal jurisdiction and venue of a
court of  subject  matter  jurisdiction  which  is  appropriate  for  Langhorne,
Pennsylvania.

     12.7 Attorney's Fees and Court Costs.
     -------------------------------------
     In the event that  litigation  results from or arises out of this Agreement
or the  performance  thereof,  the parties  agree to  reimburse  the  prevailing
party's reasonable attorney's fees, court costs, and all other expenses, whether
or not taxable by the court as costs,  in addition to any other relief to which,
the prevailing party may be entitled.

     12.8 Contractual Procedures.
     ----------------------------
     Unless  specifically  disallowed by law, should litigation arise hereunder,
service of process  therefore,  may be obtained through  certified mail,  return
receipt  requested;  the parties hereto waiving any and all rights they may have
to object to the method by which service was perfected.

     12.9 Partial Invalidity.
     ------------------------
     If any  provision  in  this  Agreement  is held  by a  court  of  competent
jurisdiction to be invalid,  void, or  unenforceable,  the remaining  provisions
will  nevertheless  continue in full force without being impaired or invalidated
in any way.

     12.10 Further Assurances.
     -------------------------
     The  parties  agree to take all further  actions,  including  execution  of
documents,   which  are  reasonably  necessary  to  effectuate  the  transaction
contemplated by this Agreement.

<PAGE>

     12.11 Binding on Successors.
     ----------------------------
     This Agreement and covenants and conditions  herein  contained  shall apply
to,  be  binding  upon  and  inure  to  the  benefit  of the  respective  heirs,
administrators,  executors,  legal  representatives,  assignees,  successors and
agents of the parties hereto.

     12.12 Specific Performance.
     ----------------------------
     The  parties  agree  that  remedies,  at least for any  breach or threat of
breach of this  Agreement,  may be inadequate and that, in the event of any such
breach or  threat of  breach,  the  non-breaching  party  will be  entitled,  in
addition  to all other  rights and  remedies  otherwise  available  at law or in
equity,  to the equitable remedy of injunctive  relief to enforce the provisions
of this Agreement.

     12.13 Joint Preparation.
     ------------------------
     This Agreement is to be deemed to have been jointly prepared by the parties
hereto  and  any  uncertainty  and  ambiguity   existing  herein  shall  not  be
interpreted  against any party hereto,  but according to the  application of the
rules of  interpretation  of  contracts,  if any such  uncertainty  or ambiguity
exists.

     12.14 Counterparts.
     -------------------
     This  Agreement  can be  executed  in  one or  more  counterparts  and  the
counterparts  signed  in the  aggregate  shall  constitute  a  single,  original
instrument.  A facsimile/photocopy  of this Agreement may be used in lieu of the
original for all purposes.

     12.15 Contingencies.
     --------------------
     This  agreement  must be signed by all board members of FTSA in addition to
the following other documents and actions:  the lease agreement  settlement must
be signed,  the stock purchase  agreement must be signed, all board members must
resign as officers and board members of FTSA effective immediately and Mr. Scott
Gallagher  must be elected as COB/CEO  and is  responsible  for all  outstanding
obligations of FTSA.

     IN WITNESS WHEREOF, the parties have executed this Agreement (consisting of
6 pages) so that it is deemed  effective  as of the day and year  first  written
above.

FTS APPAREL, INC.                           SCOTT GALLAGHER

By:   /s/ LeRoy Landhuis                    /s/ Scott Gallagher
     ----------------------------           ---------------------------------
     LeRoy Landhuis, Chairman/CEO

By:  /s/ Joe DeBerry                     Dated:  1/11/02
     ----------------------------                ----------------------------
     Joe DeBerry, Director

By:  /s/ Roger Burnett
     ----------------------------
     Roger Burnett, Director

Dated:  1/14/02
        -------------------------LOAN AGREEMENT (the "Agreement") made this 16th day of October, 2001 by
and between Bodyguard Records.com, Inc., a privately owned Delaware corporation
with principal offices at 138 FULTON STREET, NEW YORK, NEW YORK 10038 (the
"Borrower") and James T. Patten, with an office at P.O. Box 682, Bernardsville,
NJ 07924 (the "Lender"). The Lender and/or the Borrower are sometimes
hereinafter individually referred to as a "Party" or collectively as the
"Parties".

                              W I T N E S S E T H:

         WHEREAS, the Borrower desires to borrow the sum of $15,000 from the
Lender; and

         WHEREAS, the Lender is willing to lend $15,000 to the Borrower on the
terms and subject to the conditions hereinafter set forth.

         NOW, THEREFORE, in consideration of the representations, warranties,
covenants and agreements herein contained, the receipt and adequacy of which is
hereby acknowledged and accepted, the Parties hereby agree as follows:

1. TERMS OF THE LOAN.

         1.1 THE LOAN. The Lender hereby covenants and agrees to lend to the
Borrower and the Borrower hereby accepts from the Lender the sum of Fifteen
Thousand ($15,000) Dollars (the "Loan"). The full principal amount of the Loan
shall be due and payable at the offices of the Holder on the 120th day following
the execution of this Agreement (the "Due Date"). The Loan shall be evidenced by
a Promissory Note bearing interest at the rate of 13% per annum, in the form
annexed hereto as Exhibit "A" (hereby incorporated by reference) duly executed
by the Borrower, and delivered to the Lender simultaneously with the execution
of this Agreement (the "Note").

         1.2 CLOSING. The closing of the transaction memorialized by this
Agreement shall take place simultaneously with the execution and delivery of
this Agreement and the Note, and the Lender's delivery of the Loan proceeds via
Federal wire transfer or such other manner as shall be mutually agreed upon (the
"Closing").

         1.3 TRANSFER OF THE NOTE. The Note may not be sold, assigned, pledged
or hypothecated by the Lender without the prior written consent of the Borrower,
which consent shall not be unreasonably withheld.

         1.4 PREPAYMENT. The Borrower shall have the right to prepay the Loan at
any time without penalty.

2. REPRESENTATIONS AND WARRANTIES OF THE BORROWER.

         The Borrower hereby represent and warrant to the Lender as follows:

         2.1 VALID EXISTENCE. The Borrower is a corporation duly organized,
validly existing under the laws of the State of Delaware;

<PAGE>

         2.2 AUTHORITY. All corporate action required to be taken by the
Borrower to authorize and execute this Agreement has been taken prior to the
delivery hereof. When executed and delivered to the Lender, this Agreement will
be a binding obligation of the Borrower enforceable in accordance with its
terms; and

         2.3 NO BROKERS. Neither the Borrower nor any of its affiliates has
engaged, consented to or authorized any broker, finder, investment banker or
other third party to act on his behalf, directly or indirectly, in connection
with the transactions contemplated by this Agreement; and hereby indemnifies and
holds the Lender harmless against any lability arising out of a claim by any
individual, firm or entity as a finder.

3. REPRESENTATIONS AND WARRANTIES OF THE LENDER

         The Lender hereby represents and warrants as follows:

         3.1 NO BREACH. The Lender has the full power and authority to enter
into this Agreement and to carry out the transaction contemplated hereby. This
Agreement will be a binding obligation of the Lender enforceable in accordance
with its terms;

         3.2 ACCESS TO RECORDS. Lender and/or his representatives have been
offered the opportunity by the Borrower to examine and make copies of such books
and records of the Borrower and to ask such questions of the Borrower as the
Lender deems necessary to satisfy any due diligence obligations with respect to
the Agreement or the Note; and

         3.4 NO BROKERS. Neither the Lender nor any of his affiliates has
engaged, consented to or authorized any broker, finder, investment banker or
other third party to act on his behalf, directly or indirectly, in connection
with the transactions contemplated by this Agreement; and hereby indemnifies and
holds the Borrower harmless against any lability arising out of a claim by any
individual, firm or entity as a finder.

4. DEFAULT: RIGHTS AND REMEDIES ON DEFAULT

         4.1 DEFAULT. The occurrence of any one or more of the following events
shall constitute a Default;

         (a) The Borrower's failure to repay the Loan as provided herein; or

         (b) A petition in bankruptcy is filed against the Borrower or any
guarantor of its liabilities; the Borrower or any guarantor makes an authorized
assignment for the benefit of its creditors; or a receiver, receiver-manager or
trustee for the Borrower is appointed; or

                                       2
<PAGE>

         (c) A notice of lien, levy or assessment is filed of record with
respect to all or any substantial portion of the Borrower's assets by the United
States, or by any state, county, municipal, provincial, federal or other
government agency, or any taxes or debts owing to any of the foregoing become a
lien or encumbrance upon the Borrower's assets and such lien or encumbrance is
not released within thirty (30) days after its creation; or

         (d) Judgement is rendered against the Borrower on an uninsured claim of
$100,000 or more and the Borrower fails to commence an appeal of such judgement
within the applicable appeal period; or

         (e) A material breach of any of the representations and warranties
contained in this Agreement.

5. CONDITIONS TO CLOSING

         5.1 CONDITIONS TO THE OBLIGATIONS OF THE LENDER . The obligation of the
Lender to make the Loan shall be subject to the satisfaction of the following
condition which the Borrower hereby covenants to perform on or prior to the
Closing:

         (a) The execution and delivery to the Lender of the Agreement and the
Note; and

         5.2 CONDITIONS TO THE OBLIGATIONS OF THE BORROWER. The obligation of
the Borrower to execute and perform this Agreement, to issue and deliver the
Note to the Lender at the Closing shall be subject to the satisfaction of the
following condition:

         (a) The receipt of Loan proceeds of $15,000 payable by Federal wire
transfer, certified, cashier's or bank check to the order of the Borrower.

6. TERMINATION

         6.1 TERMINATION. This Agreement may be terminated:

         (a) At any time prior to the Closing by mutual agreement in writing of
the Borrower and the Lender; and/or

         (b) At any time after October 31, 2001, by either Party if the Closing
has not previously taken place; or

         (c) Upon the Default of either Party, the non-defaulting Party may
terminate this Agreement.

                                       3
<PAGE>

         6.2 EFFECT OF TERMINATION. In the event of the termination of this
Agreement pursuant to Section 6.1, this Agreement shall thereafter become void
and have no effect, and no Party shall have any liability to the other Party in
respect thereof, except that nothing herein will relieve any Party from
liability for any breach of any of its representations, warranties, covenants or
agreements contained in this Agreement prior to such termination.

7. MISCELLANEOUS

         7.1 EXPENSES. Regardless of whether or not the transaction contemplated
herein is consummated, each Party shall promptly pay and be responsible for all
costs and expenses incurred by them in connection with this Agreement and the
transaction contemplated hereby.

         7.2 AMENDMENT. This Agreement may not be amended except by an
instrument in writing signed on behalf of each of the Parties hereto.

         7.3 WAIVER. At any time prior to the Closing, the Parties hereto, may
mutually: (i) extend the time for the performance of any Party; (ii) waive any
inaccuracies in the representations and warranties contained herein or in any
document delivered pursuant hereto; and (iii) waive compliance with any of the
agreements or conditions contained herein. Any agreement providing for an
extension or waiver shall be valid if set forth in an instrument in writing
signed by the Parties. The failure of any Party to insist upon strict
performance of any of the provisions of this Agreement shall not be construed as
a waiver of any subsequent default of the same or similar nature or of any of
provision, term, condition, warranty or representation contained herein.

         7.4 BINDING EFFECT. All of the terms and provisions of the Agreement
shall be binding upon and inure to the benefit of and be enforceable by and
against the respective heirs, representatives, executors, administrators,
successors and assigns of the Parties.

         7.5 ENTIRE AGREEMENT. Each of the Parties covenants that this
Agreement, including the attached Exhibit "A", is intended to and does contain
and embody herein all of the understandings and agreements, both written and
oral, of the Parties.

         7.6 GOVERNING LAW. This Agreement shall be governed by and interpreted
under and construed in all respects in accordance with the laws of the State of
New York irrespective of the place of domicile or residence of any Party.

                                       4
<PAGE>

         7.7 ARBITRATION. The Parties agree that in the event of a controversy
arising out of the interpretation, construction, performance or breach of the
Agreement, any and all claims arising out of or relating to this Agreement shall
be settled by arbitration according to the Commercial Arbitration Rules of the
American Arbitration Association located in the City of New York before a single
arbitrator. The decision of the arbitrator will be enforceable in any court of
competent jurisdiction. The Parties agree and consent that service of process in
any such arbitration proceeding outside the City of New York shall be tantamount
to service in person within City of New York and shall confer personal
jurisdiction on the American Arbitration Association. In resolving all disputes
between the Parties, the arbitrator will apply the law of the State of New York.
The arbitrator is, by this Agreement, directed to conduct the arbitration
hearing no later than three (3) months from the service of the statement of
claim and demand for arbitration unless good cause is shown establishing that
the hearing cannot fairly and practically be so convened. The arbitrators will
resolve any discovery disputes by such pre-hearing conferences as may be needed.
All Parties hereby agree and consent that the arbitrator and any counsel of
record to the proceeding will have the power of subpoena process as provided by
law. Notwithstanding the foregoing, if a dispute arises out of or related to
this Agreement, or the breach thereof, before resorting to arbitration the
Parties agree first to try in good faith to settle the dispute by mediation
under the Commercial Mediation Rules of the American Arbitration Association.

         7.8 ORIGINALS. This Agreement may be executed in counterparts each of
which so executed shall be deemed an original and constitute one and the same
agreement.

         7.9 ADDRESSES OF THE PARTIES. Each Party shall at all times keep the
other Party informed of its residence or principal place of business if
different from that stated herein, and promptly notify the other of any change,
giving the address for that Party.

         7.10. NOTICES. Unless otherwise specifically provided for elsewhere in
this Agreement, any notices and other communications required to be given
pursuant to this Agreement shall be in writing and shall be effective when
delivered by hand or upon receipt if sent by mail (registered or certified mail,
postage prepared, return receipt requested) or overnight package delivery
service or upon transmission if sent by telex or facsimile (with request for
confirmation of receipt in a manner customary for communications of such
respective type), except that if notice is received by telex or facsimile after
5:00 P.M. local time on a business day at the place of receipt, it shall be
effective as of the following business day.

         IN WITNESS WHEREOF, each of the Parties has executed this Agreement on
the date first written above.

Bodyguard Records.com, Inc.

By: /S/ JOHN ROLLO
    ----------------------------------
       John Rollo, President

   /S/ JAMES T. PATTEN
   ---------------------------------
      James T. Patten

                                       5
<PAGE>

                                   EXHIBIT "A"

                                 PROMISSORY NOTE

$15,000                                                        October 16, 2001

FOR VALUE RECEIVED, Bodyguard Records.com, Inc., a privately owned Delaware
corporation with principal offices at 138 FULTON STREET, NEW YORK, NEW YORK
10038 (hereinafter referred to as the "Maker") promises to pay to the order of
James T. Patten, with an office at P.O. Box 682, Bernardsville, NJ 07924
(hereinafter referred to as the "Holder"), in lawful money of the United States,
the principal sum of Fifteen Thousand and 00/100 ($15,000) Dollars with interest
at the rate of thirteen (13%) percent per annum and payable in one lump sum on
the Due Date (as that term is hereinafter defined). The full principal amount of
this note (the "Note") together with any and all accrued interest due hereunder
shall be due and payable at the offices of the Holder on the 120th day following
the execution of this Note (the "Due Date").

         1. EVENTS OF DEFAULT. If one or more of the following events shall
occur:

         (a) The Maker shall fail to pay the principal and interest due under
this Note and such failure to pay shall continue for a period of ten (10) days
after notice of such failure has been received by Maker from Holder;

         (b) The making of a general assignment by Maker for the benefit of
creditors;

         (c) The filing of any petition or the commencement of any proceeding by
or against the Maker for any relief under any bankruptcy, or insolvency laws or
any laws related to the relief of debtors, readjustment of indebtedness,
reorganizations, compositions or extensions;

         (d) The appointment of a receiver of or the issuance of making of a
writ or order of attachment or garnishment against, a majority of the property
or assets of the Maker; or

         (e) A judgment is rendered against the Maker on an uninsured claim of
$100,000 or more and the Maker fails to commence an appeal of such judgment
within the applicable appeal period;

then and in such event (an "Event of Default"), Maker will be deemed to have
defaulted under this Note and Holder may, on written notice, accelerate all
payments due under this Note.

                                       6
<PAGE>

         2. WAIVER OF PRESENTMENT, ETC. Maker hereby waives presentment for
payment, demand, notice of non-payment and dishonor, protest and notice of
protest and waives trial by jury in any action or proceeding arising on, out of,
under or by reason of this Note. The rights and remedies of Holder shall be
deemed cumulative and the exercise of any right or remedy shall not be regarded
as barring any other remedy or remedies. The institution of any action or
recovery any portion of the indebtedness evidenced by this Note shall not be
deemed a waiver of any other right of Holder.

         3. NOTICES. Any notice required or contemplated by this Note shall be
deemed sufficiently given when delivered in person or sent by registered or
certified mail or priority overnight package delivery service to the principal
office of the party entitled to notice or at such other address as the same may
designate in a notice for that purpose. All notices shall be deemed to have been
made upon receipt, in the case of mail or personal delivery, or on the next
business day, in the case of priority overnight package delivery service.

         4. NON-ASSIGNABILITY. This Note may not be sold, assigned, pledged or
hypothecated by the Holder without the written consent of the Maker, which
consent shall not be unreasonably withheld.

         5. HEADINGS. The headings in this Note are solely for convenience of
reference and shall not affect its interpretation.

         6. LAWS OF THE STATE OF NEW YORK. This Note shall be deemed to be made,
executed and delivered in, governed by and interpreted under and construed in
all respects in accordance with the laws of the State of New York, irrespective
of the place of domicile or residence of the Maker or the Holder. In the event
of controversy arising out of the interpretation, construction, performance or
breach of this Note, the Maker and the Holder hereby agree and consent that the
same shall be settled by arbitration in accordance with the provisions of
Section 7.7 of the written loan agreement of even date herewith between the
Maker and the Holder to which this Note is attached as an exhibit.

Bodyguard Records.com, Inc.

By: /S/ JOHN ROLLO
    ----------------------------------
       John Rollo, President

                                       7

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