Document:

EXHIBIT 10.1

                                 ANADIGICS, INC.

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                  1995 LONG TERM INCENTIVE AND SHARE AWARD PLAN
                    AS AMENDED MAY 29, 1997 AND MAY 24, 2000

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     1. Purposes. The purposes of the 1995 Long Term Incentive and Share Award
Plan are to advance the interests of ANADIGICS, Inc. and its shareholders by
providing a means to attract, retain, and motivate employees and directors of
the Company upon whose judgment, initiative and efforts the continued success,
growth and development of the Company is dependent.

     2. Definitions. For purposes of the Plan, the following terms shall be
defined as set forth below:

     a. Affiliate means any entity other than the Company and its Subsidiaries
that is designated by the Board or the Committee as a participating employer
under the Plan, provided that the 'Company directly or indirectly owns at least
20% of the combined voting power of all classes of stock of such entity or at
least 20% of the ownership interests in such entity.

     b. Award means any Option, SAR, Restricted Share, Restricted Share Unit,
Performance Share, Performance Unit, Dividend Equivalent, or Other Share-Based
Award granted to an Eligible Employee under the Plan.

     c. "Award Agreement" means any written agreement, contract, or other
instrument or document evidencing an Award.

     d. "Beneficiary" means the person, persons, trust or trusts which have been
designated by such Eligible Employee in his or her most recent written
beneficiary designation filed with the Company to receive the benefits specified
under this Plan upon the death of the Eligible Employee, or, if there is no
designated Beneficiary or surviving designated Beneficiary, then the person,
persons, trust or trusts entitled by will or the laws of descent and
distribution to receive such benefits.

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

     f. "Code" means the Internal Revenue Code of 1986, as amended from time to
time. References to any provision of the Code shall be deemed to include
successor provisions thereto and regulations thereunder.

     g. "Committee" means the Compensation Committee of the Board, or such other
Board committee as may be designated by the Board to administer the Plan;
provided, however, that

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the Committee shall consist of two or more directors of the Company, each of
whom is a 'disinterested person" within the meaning of Rule 16b-3 under the
Exchange Act, to the extent applicable.

     h. "Company" means ANADIGICS, Inc., a corporation organized under the laws
of Delaware, or any successor corporation.

     i. "Director" means a non-employee member of the Board.

     j. "Director's Option" means a NQSO granted to a Director under Section 7.

     k. "Dividend Equivalent" means a right, granted under Section 5(g), to
receive cash, Shares, or other property equal in value to dividends paid with
respect to a specified number of Shares. Dividend Equivalents may be awarded on
a free-standing basis or in connection with another Award, and may be paid
currently or on a deferred basis.

     l. Eligible Employee" means any employee of the Company or its Subsidiaries
and Affiliates, including any director who is an employee.

     m. "Exchange Act" means the Securities Exchange Act of 1934, as amended
from time to time. References to any provision of the Exchange Act shall be
deemed to include successor provisions thereto and regulations thereunder.

     n. "Fair Market Value" means, with respect to Shares or other property, the
fair market value of such Shares or other property determined by such methods or
procedures as shall be established from time to time by the Committee. Unless
otherwise determined by the Committee in good faith, the Fair Market Value of
Shares as of any given date prior to the existence of a public market for the
Company's Shares shall mean the Company's book value. Thereafter, unless
otherwise determined by the Committee in good faith, the Fair Market Value of
Shares shall mean the mean between the high and low selling prices per Share on
the immediately preceding date (or, if the Shares were not traded on that day,
the next preceding day that the Shares were traded) on the principal exchange on
which the Shares are traded, as such prices are officially quoted on such
exchange.

     o. "ISO" means any Option intended to be and designated as an incentive
stock option within the meaning of Section 422 of the Code.

     p. "NQSO" means any Option that is not an ISO.

     q. "Option" means a right, granted under Section 5 (b) or Section 7, to
purchase Shares.

     r. "Other Share-Based Award" means a right, granted under Section 5(h),
that relates to or is valued by reference to Shares.

     s. "Participant" means an Eligible Employee or Director who has been
granted an Award or Director's Option under the Plan.

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     t. "Performance Share" means a performance share granted under Section
5(f).

     u. "Performance Unit" means a performance unit granted under Section 5(f).

     v. "Plan" means this 1995 Long Term Incentive and Share Award Plan.

     w. "Restricted Shares" means an Award of Shares under Section 5(d) that may
be subject to certain restrictions and to a risk of forfeiture.

     x. "Restricted Share Unit' means a right, granted under Section 5(e), to
receive Shares or cash at the end of a specified deferral period.

     y. "Rule 16b-3" means Rule 16b-3, as from time to time in effect and
applicable to the Plan and Participants, promulgated by the Securities and
Exchange Commission under Section 16 of the Exchange Act.

     z. "SAR" or "Share Appreciation Right" means the right, granted under
Section 5(c), to be paid an amount measured by the difference between the
exercise price of the right and the Fair Market Value of Shares on the date of
exercise of the right, with payment to be made in cash, Shares, or property as
specified in the Award or determined by the Committee.

     aa. "Shares" means common stock, $.0l par value per share, of the Company.

     bb. "Subsidiary" means any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company if each of the
corporations (other than the last corporation in the unbroken chain) owns shares
possessing 50% or more of the total combined voting power of all classes of
stock in one of the other corporations in the chain.

     3. Administration.

     a. Authority of the Committee. Except as provided in Section 7, the Plan
shall be administered by the Committee, and the Committee shall have full and
final authority to take the following actions, in each case subject to and
consistent with the provisions of the Plan:

     (i) to select Eligible Employees to whom Awards may be granted;

     (ii) to designate Affiliates;

     (iii) to determine the type or types of Awards to be granted to each
Eligible Employee;

     (iv) to determine the type and number of Awards to be granted, the number
of Shares to which an Award may relate, the terms and conditions of any Award
granted under the Plan (including, but not limited to, any exercise price, grant
price, or purchase price, and any bases for adjusting such exercise, grant or
purchase price, any restriction or condition, any schedule for lapse of
restrictions or conditions relating to transferability or forfeiture,
exercisability, or settlement of an

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Award, and waiver or accelerations thereof, and waivers of performance
conditions relating to an Award, based in each case on such considerations as
the Committee shall determine), and all other matters to be determined in
connection with an Award;

     (v) to determine whether, to what extent, and under what circumstances an
Award may be settled, or the exercise price of an Award may be paid, in cash,
Shares, other Awards, or other property, or an Award may be canceled, forfeited,
exchanged, or surrendered;

     (vi) to determine whether, to what extent, and under what circumstances
cash, Shares, other Awards, or other property payable with respect to an Award
will be deferred either automatically, at the election of the Committee, or at
the election of the Eligible Employee;

     (vii) to prescribe the form of each Award Agreement, which need not be
identical for each Eligible Employee;

     (viii) to adopt, amend, suspend, waive, and rescind such rules and
regulations and appoint such agents as the Committee may deem necessary or
advisable to administer the Plan;

     (ix) to correct any defect or supply any omission or reconcile any
inconsistency in the Plan and to construe and interpret the plan and any Award,
rules and regulations, Award Agreement, or other instrument hereunder;

     (x) to accelerate the exercisability or vesting of all or any portion of
any Award or to extend the period during which an Award is exercisable; and

     (xi) to make all other decisions and determinations as may be required
under the terms of the Plan or as the Committee may deem necessary or advisable
for the administration of the Plan.

     b. Manner of Exercise of Committee Authority. The Committee shall have sole
discretion in exercising its authority under the Plan. Any action of the
Committee with respect to the Plan shall be final, conclusive, and binding on
all persons, including the Company, Subsidiaries, Affiliates, Eligible
Employees, any person claiming any rights under the Plan from or through any
Eligible Employee, and shareholders. The express grant of any specific power to
the Committee, and the taking of any action by the Committee, shall not be
construed as limiting any power or authority of the Committee. The Committee may
delegate to officers or managers of the Company or any Subsidiary or Affiliate
the authority, subject to such terms as the Committee shall determine, to
perform administrative functions and, with respect to Awards granted to persons
not subject to Section 16 of the Exchange Act, to perform such other functions
as the Committee may determine, to the extent permitted under Rule 16b-3 (if
applicable) and applicable law.

     c. Limitation of Liability. Each member of the Committee shall be entitled
to, in good faith, rely or act upon any report or other information furnished to
him or her by any officer or other employee of the Company or any Subsidiary or
Affiliate, the Company's independent certified public accountants, or other
professional retained by the Company to assist in the administration of

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the Plan. No member of the Committee, nor any officer or employee of the Company
acting on behalf of the Committee, shall be personally liable for any action,
determination, or interpretation taken or made in good faith with respect to the
Plan, and all members of the Committee and any officer or employee of the
Company acting on their behalf shall, to the extent permitted by law, be fully
indemnified and protected by the Company with respect to any such action,
determination, or interpretation.

     4. Shares Subject to the Plan.

     a. Subject to adjustment as provided in Section 4(c) hereof, the total
number of Shares reserved for issuance in connection with Awards and Director's
Options under the Plan shall be 4,912,500. No Award or Director's option may be
granted if the number of Shares to which such Award or Director's Option
relates, when added to the number of Shares previously issued under the Plan,
exceeds the number of Shares reserved under the preceding sentence. If any
Awards or Director's Options are forfeited, canceled, terminated, exchanged or
surrendered or such Award or Director's Option is settled in cash or otherwise
terminates without a distribution of Shares to the Participant, any Shares
counted against the number of Shares reserved and available under the Plan with
respect to such Award or Director's Option shall, to the extent of any such
forfeiture, settlement, termination, cancellation, exchange or surrender, again
be available for Awards or Director's Options under the Plan; provided, however,
that in the case of forfeiture, cancellation, exchange or surrender of
Restricted Shares or Restricted Share Units with respect to which dividends or
Dividend Equivalents have been paid or accrued, such number of Shares shall not
be available for Awards or Director's Options unless, in the case of Shares with
respect to which dividends or Dividend Equivalents were accrued but unpaid, such
dividends and Dividend Equivalents are also forfeited, canceled, exchanged or
surrendered. Upon the exercise of any Award granted in tandem with any other
Awards, such related Awards shall be canceled to the extent of the number of
Shares as to which the Award is exercised. Subject to adjustment as provided in
Section 4(c) hereof, the maximum number of Shares with respect to which options
or SARs may be granted during a calendar year to any Eligible Employee under
this Plan shall be 225,000 Shares.

     b. Any Shares distributed pursuant to an Award or Director's Option may
consist, in whole or in part, of authorized and unissued Shares or treasury
Shares including Shares acquired by purchase in the open market or in private
transactions.

     c. In the event that the Committee shall determine that any dividend in
Shares, recapitalization, Share split, reverse split, reorganization, merger,
consolidation, spin-off, combination, repurchase, or share exchange, or other
similar corporate transaction or event, affects the Shares such that an
adjustment is appropriate in order to prevent dilution or enlargement of the
rights of Eligible Employees under the Plan, then the Committee shall make such
equitable changes or adjustments as it deems appropriate and, in such manner as
it may deem equitable, adjust any or all of (i) the number and kind of shares
which may thereafter be issued under the Plan, (ii) the number and kind of
shares, other securities or other consideration issued or issuable in respect of
outstanding Awards, and (iii) the exercise price, grant price, or purchase price
relating to any Award; provided, however, in each case that, with respect to
ISOs, such adjustment shall be made in accordance with Section 424(h) of the
Code, unless the Committee determines otherwise. In addition, the Committee is
authorized to make adjustments in the terms and conditions of, and the criteria
and performance objectives included

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in, Awards in recognition of unusual or non-recurring events (including, without
limitation, events described in the preceding sentence) affecting the Company or
any Subsidiary or Affiliate or the financial statements of the Company or any
Subsidiary or Affiliate, or in response to changes in applicable laws,
regulations, or accounting principles; provided, however, that, if an Award
Agreement specifically so provides, the Committee shall not have discretion to
increase the amount of compensation payable under the Award to the extent such
an increase would cause the Award to lose its qualification as performance-based
compensation for purposes of Section 162(m)(4)(C) of the Code and the
regulations thereunder.

     5. Specific Terms of Awards.

     a. General. Awards may be granted on the terms and conditions set forth in
this Section 5. In addition, the Committee may impose on any Award or the
exercise thereof, at the date of grant or thereafter (subject to Section 8(d)),
such additional terms and conditions, not inconsistent with the provisions of
the Plan, as the Committee shall determine, including terms regarding forfeiture
of Awards or continued exercisability of Awards in the event of termination of
employment by the Eligible Employee.

     b. Options. The Committee is authorized to grant Options, which may be
NQSOs or ISOs, to Eligible Employees on the following terms and conditions:

     (i) Exercise Price. The exercise price per Share purchasable under an
Option shall be determined by the Committee, and the Committee may, without
limitation, set an exercise price that is based upon achievement of performance
criteria if deemed appropriate by the Committee.

     (ii) Time and Method of Exercise. The Committee shall determine at the date
of grant or thereafter the time or times at which an Option may be exercised in
whole or in part (including, without limitation, upon achievement of performance
criteria if deemed appropriate by the Committee), the methods by which such
exercise price may be paid or deemed to be paid (including, without limitation,
broker-assisted exercise arrangements), the form of such payment (including,
without limitation, cash, Shares, notes or other property), and the methods by
which Shares will be delivered or deemed to be delivered to Eligible Employees.

     (iii) ISOs. The terms of any ISO granted under the Plan shall comply in all
respects with the provisions of Section 422 of the Code, including but not
limited to the requirement that no ISO shall be granted more than ten years
after the earlier of the date of adoption or shareholder approval of the Plan.

     c. SARS. The Committee is authorized to grant SARs (Share Appreciation
Rights) to Eligible Employees on the following terms and conditions:

     (i) Right to Payment. An SAR shall confer on the Eligible Employee to whom
it is granted a right to receive with respect to each Share subject thereto,
upon exercise thereof, the excess of (1) the Fair Market Value of one Share on
the date of exercise (or, if the Committee

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shall so determine in the case of any such right, the Fair Market Value of one
Share at any time during a specified period before or after the date of
exercise) over (2) the exercise price of the SAR as determined by the Committee
as of the date of grant of the SAR (which, in the case of an SAR granted in
tandem with an option, shall be equal to the exercise price of the underlying
Option).

     (ii) Other Terms. The Committee shall determine, at the time of grant or
thereafter, the time or times at which an SAR may be exercised in whole or in
part, the method of exercise, method of settlement, form of consideration
payable in settlement, method by which Shares will be delivered or deemed to be
delivered to Eligible Employees, whether or not an SAR shall be in tandem with
any other Award, and any other terms and conditions of any SAR. Unless the
Committee determines otherwise, an SAR (1) granted in tandem with an NQSO may be
granted at the time of grant of the related NQSO or at any time thereafter or
(2) granted in tandem with an ISO may only be granted at the time of grant of
the related ISO.

     d. Restricted Shares. The Committee is authorized to grant Restricted
Shares to Eligible Employees on the following terms and conditions:

     (i) Issuance and Restrictions. Restricted Shares shall be subject to such
restrictions on transferability and other restrictions, if any, as the Committee
may impose at the date of grant or thereafter, which restrictions may lapse
separately or in combination at such times, under such circumstances (including,
without limitation, upon achievement of performance criteria if deemed
appropriate by the Committee), in such installments, or otherwise, as the
Committee may determine. Except to the extent restricted under the Award
Agreement relating to the Restricted Shares, an Eligible Employee granted
Restricted Shares shall have all of the rights of a shareholder including,
without limitation, the right to vote Restricted Shares and the right to receive
dividends thereon.

     (ii) Forfeiture. Except as otherwise determined by the Committee, at the
date of grant or thereafter, upon termination of employment during the
applicable restriction period, Restricted Shares and any accrued but unpaid
dividends or Dividend Equivalents that are at that time subject to restrictions
shall be forfeited; provided, however, that the Committee may provide, by rule
or regulation or in any Award Agreement, or may determine in any individual
case, that restrictions or forfeiture conditions relating to Restricted Shares
will be waived in whole or in part in the event of terminations resulting from
specified causes, and the Committee may in other cases waive in whole or in part
the forfeiture of Restricted Shares.

     (iii) Certificates for Shares. Restricted Shares granted under the Plan may
be evidenced in such manner as the Committee shall determine. If certificates
representing Restricted Shares are registered in the name of the Eligible
Employee, such certificates shall bear an appropriate legend referring to the
terms, conditions, and restrictions applicable to such Restricted Shares, and
the Company shall retain physical possession of the certificate.

     (iv) Dividends. Dividends paid on Restricted Shares shall be either paid at
the dividend payment date, or deferred for payment to such date as determined by
the Committee, in cash or in unrestricted Shares having a Fair Market Value
equal to the amount of such dividends. Shares distributed in connection with a
Share split or dividend in Shares, and other property distrib-

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uted as a dividend, shall be subject to restrictions and a risk of forfeiture to
the same extent as the Restricted Shares with respect to which such Shares or
other property has been distributed.

     e. Restricted Share Units. The Committee is authorized to grant Restricted
Share Units to Eligible Employees, subject to the following terms and
conditions:

     (i) Award and Restrictions. Delivery of Shares or cash, as the case may be,
will occur upon expiration of the deferral period specified for Restricted Share
Units by the Committee (or, if permitted by the Committee, as elected by the
Eligible Employee). In addition, Restricted Share Units shall be subject to such
restrictions as the Committee may impose, if any (including, without limitation,
the achievement of performance criteria if deemed appropriate by the Committee),
at the date of grant or thereafter, which restrictions may lapse at the
expiration of the deferral period or at earlier or later specified times,
separately or in combination, in installments or otherwise, as the Committee may
determine.

     (ii) Forfeiture. Except as otherwise determined by the Committee at date of
grant or thereafter, upon termination of employment (as determined under
criteria established by the Committee) during the applicable deferral period or
portion thereof to which forfeiture conditions apply (as provided in the Award
Agreement evidencing the Restricted Share Units), or upon failure to satisfy any
other conditions precedent to the delivery of Shares or cash to which such
Restricted Share Units relate, all Restricted Share Units that are at that time
subject to deferral or restriction shall be forfeited; provided, however, that
the Committee may provide, by rule or regulation or in any Award Agreement, or
may determine in any individual case, that restrictions or forfeiture conditions
relating to Restricted Share Units will be waived in whole or in part in the
event of termination resulting from specified causes, and the Committee may in
other cases waive in whole or in part the forfeiture of Restricted Share Units.

     f. Performance Shares and Performance Units. The Committee is authorized to
grant Performance Shares or Performance Units or both to Eligible Employees on
the following terms and conditions:

     (i) Performance Period. The Committee shall determine a performance period
(the "Performance Period") of one or more years and shall determine the
performance objectives for grants of Performance Shares and Performance Units.
Performance objectives may vary from Eligible Employee to Eligible Employee and
shall be based upon such performance criteria as the Committee may deem
appropriate. Performance Periods may overlap and Eligible Employees may
participate simultaneously with respect to Performance Shares and Performance
Units for which different Performance Periods are prescribed.

     (ii) Award Value. At the beginning of a Performance Period, the Committee
shall determine for each Eligible Employee or group of Eligible Employees with
respect to that Performance Period the range of number of Shares, if any, in the
case of Performance Shares, and the range of dollar values, if any, in the case
of Performance Units, which may be fixed or may vary in accordance with such
performance or other criteria specified by the Committee, which shall be paid to

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an Eligible Employee as an Award if the relevant measure of Company performance
for the Performance Period is met.

     (iii) Significant Events. If during the course of a Performance Period
there shall occur significant events as determined by the Committee which the
Committee expects to have a substantial effect on a performance objective during
such period, the Committee may revise such objective; provided, however, that,
if an Award Agreement so provides, the Committee shall not have discretion to
increase the amount of compensation payable under the Award to the extent such
an increase would cause the Award to lose its qualification as performance-based
compensation for purposes of Section 162(m)(4)(C) of the Code and the
regulations thereunder.

     (iv) Forfeiture. Except as otherwise determined by the Committee, at the
date of grant or thereafter, upon termination of employment during the
applicable Performance Period, Performance Shares and Performance Units for
which the Performance Period was prescribed shall be forfeited; provided,
however, that the Committee may provide, by rule or regulation or in any Award
Agreement, or may determine in an individual case, that restrictions or
forfeiture conditions relating to Performance Shares and Performance Units will
be waived in whole or in part in the event of terminations resulting from
specified causes, and the Committee may in other cases waive in whole or in part
the forfeiture of Performance Shares and Performance Units.

     (v) Payment. Each Performance Share or Performance Unit may be paid in
whole Shares, or cash, or a combination of Shares and cash either as a lump sum
payment or in installments, all as the Committee shall determine, at the time of
grant of the Performance Share or Performance Unit or otherwise, commencing as
soon as practicable after the end of the relevant Performance Period.

     g. Dividend Equivalents. The Committee is authorized to grant Dividend
Equivalents to Eligible Employees, The Committee may provide, at the date of
grant or thereafter, that Dividend Equivalents shall be paid or distributed when
accrued or shall be deemed to have been reinvested in additional Shares, or
other investment vehicles as the Committee may specify, provided that Dividend
Equivalents (other than freestanding Dividend Equivalents) shall be subject to
all conditions and restrictions of the underlying Awards to which they relate.

     h. Other Share-Based Awards. The Committee is authorized, subject to
limitations under applicable law, to grant to Eligible Employees such other
Awards that may be denominated or payable in, valued in whole or in part by
reference to, or otherwise based on, or related to, Shares, as deemed by the
Committee to be consistent with the purposes of the Plan, including, without
limitation, unrestricted shares awarded purely as a "bonus" and not subject to
any restrictions or conditions, other rights convertible or exchangeable into
Shares, purchase rights for Shares, Awards with value and payment contingent
upon performance of the Company or any other factors designated by the
Committee, and Awards valued by reference to the performance of specified
Subsidiaries or Affiliates. The Committee shall determine the terms and
conditions of such Awards at date of grant or thereafter. Shares delivered
pursuant to an Award in the nature of a purchase right granted under this
Section 5(h) shall be purchased for such consideration, paid for at such times,
by such methods, and in such forms, including, without limitation, cash, Shares,
notes or other property, as the Committee

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shall determine. Cash awards, as an element of or supplement to any other Award
under the Plan, shall also be authorized pursuant to this Section 5(h).

     6. Certain Provisions Applicable to Awards.

     a. Stand-Alone, Additional, Tandem and Substitute Awards. Awards granted
under the Plan may, in the discretion of the Committee, be granted to Eligible
Employees either alone or in addition to, in tandem with, or in exchange or
substitution for, any other Award granted under the Plan or any award granted
under any other plan or agreement of the Company, any Subsidiary or Affiliate,
or any business entity to be acquired by the Company or a Subsidiary or
Affiliate, or any other right of an Eligible Employee to receive payment from
the Company or any Subsidiary or Affiliate. Awards may be granted in addition to
or in tandem with such other Awards or awards, and may be granted either as of
the same time as or a different time from the grant of such other Awards or
awards. The per Share exercise price of any option, grant price of any SAR, or
purchase price of any other Award conferring a right to purchase Shares which is
granted, in connection with the substitution of awards granted under any other
plan or agreement of the Company or any Subsidiary or Affiliate or any business
entity to be acquired by the Company or any Subsidiary or Affiliate, shall be
determined by the Committee, in its discretion.

     b. Terms of Awards. The term of each Award granted to an Eligible Employee
shall be for such period as may be determined by the Committee; provided,
however, that in no event shall the term of any ISO or an SAR granted in tandem
therewith exceed a period of ten years from the date of its grant (or such
shorter period as may be applicable under Section 422 of the Code).

     c. Form of Payment Under Awards. Subject to the terms of the Plan and any
applicable Award Agreement, payments to be made by the Company or a Subsidiary
or Affiliate upon the grant, maturation, or exercise of an Award may be made in
such forms as the Committee shall determine at the date of grant or thereafter,
including, without limitation, cash, Shares, or other property, and may be made
in a single payment or transfer, in installments, or on a deferred basis. The
Committee may make rules relating to installment or deferred payments with
respect to Awards, including the rate of interest to be credited with respect to
such payments.

     d. Nontransferability. Awards (except for vested Shares) shall not be
transferable by an Eligible Employee except by will or the laws of descent and
distribution (except pursuant to a Beneficiary designation) and shall be
exercisable during the lifetime of an Eligible Employee only by such Eligible
Employee or his guardian or legal representative. An Eligible Employee's rights
under the Plan may not be pledged, mortgaged, hypothecated, or otherwise
encumbered, and shall not be subject to claims of the Eligible Employees
creditors.

     7. Director's Options

     a. Annual Grant. On January 1 of each year, beginning with January 1, 1996,
each Director in office on such date shall automatically be granted a NQSO to
purchase 10,000 Shares with an exercise price per Share equal to 100 percent of
the Market Value of one Share on the date of grant; provided, however, that such
price shall be at least equal to the par value of a Share. Each Op-

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tion granted to a Director under this paragraph (a) shall become fully
exercisable on December 31 of the year the option is granted, and shall expire
(unless terminated earlier under paragraph (d) below) on the tenth anniversary
of the date of grant.

     b. Initial Grants. Upon consummation of the Company's initial public
offering of Shares, each Director in office on the date of such consummation
shall automatically be granted a NQSO to purchase 15,000 Shares with an exercise
price per Share equal to the initial public offering price per Share of Shares
sold in the initial public offering. In addition, each Director who first
becomes a Director after the date of the initial public offering will
automatically be granted a NQSO on the date he or she is first elected to the
Board to purchase 15,000 Shares with an exercise price per Share equal to 100%
of the Market Value of one Share on the date of grant; provided, however, that
such price shall be at least equal to the par value of a Share. Each Option
granted to a Director under this paragraph (b) shall become exercisable in three
equal installments, commencing on the date of grant and annually thereafter.
Each Option granted under this paragraph (b) shall expire (unless terminated
earlier under paragraph (d) below) on the tenth anniversary of the date of
grant.

     c. Market Value. For purposes of this Section 7, Market Value shall mean
the mean between the high and low selling prices per Share on the immediately
preceding date (or, if the Shares were not traded on that day, the next
preceding day that the Shares were traded) on the principal exchange on which
the Shares are traded, as such prices are officially quoted on such exchange.

     d. Termination of Service. If a person ceases to be a Director, (i) due to
retirement after attainment of age 65, (ii) due to death or disability, or (iii)
at the end of his or her elected term, all of his or her outstanding Options, to
the extent not already exercisable in full, shall become immediately and fully
exercisable at the time of termination of service, and all of such Director's
Options may be exercised at any time prior to the expiration dates of such
Options. If the Director's service terminates for any other reason during his or
her elected term, all Options which are not then exercisable shall be cancelled
on the date service terminates, and options which are then exercisable may be
exercised at any time within six months after the date of such termination, b ut
not later than the expiration date of the Options.

     e. Time and Method of Exercise. The exercise price of a Director's Option
shall be paid to the Company at the time of exercise either in cash, or in
Shares already owned by the optionee and having a total Market Value equal to
the exercise price, or in a combination of cash and such Shares.

     f. Nontransferability. No Director's Option granted under the Plan shall be
transferable other than by will or by the laws of descent and distribution.
During the lifetime of the optionee, a Director's Option shall be exercisable
only by him or her or by his or her guardian or legal representative.

     g. Adjustments. In the event that subsequent to the Effective Date any
dividend in Shares, recapitalization, Share split, reverse split,
reorganization, merger, consolidation, spin-off, combination, repurchase, or
share exchange, or other such change, affects the Shares such that they are
increased or decreased or changed into or exchanged for a different number or
kind of shares,

<PAGE>
                                      -12-

other securities of the Company or of another corporation or other
consideration, then in order to maintain the proportionate interest of the
Director and preserve the value of the Director's Option, (i) there shall
automatically be substituted for each Share subject to an unexercised Director's
Option and each Share to be issued under Section 7(a) subsequent to such event
the number and kind of shares, other securities or other consideration into
which each outstanding Share shall be changed or for which each such Share shall
be exchanged, and (ii) the exercise price shall be increased or decreased
proportionately so that the aggregate purchase price for the Shares subject to
any unexercised Director's Option shall remain the same as immediately prior to
such event.

     h. Administration. To the extent the Plan relates to Director's Options, it
is intended to operate automatically and not require administration. However, to
the extent that administration is necessary with respect to such grants, the
Plan shall be administered by the Secretary of the Company. Since the Director's
Options are awarded automatically, this function will be limited to ministerial
matters. The plan administrator will have no discretion with respect to the
selection of Director optionees, the determination of the exercise price of
Director's Options, the timing of such grants or number of Shares covered by the
Director's Options.

     8. General Provisions.

     a. Compliance with Legal and Trading Requirements. The Plan, the granting
and exercising of Awards or Director's options thereunder, and the other
obligations of the Company under the Plan and any Award Agreement, shall be
subject to all applicable federal and state laws, rules and regulations, and to
such approvals by any regulatory or governmental agency as may be required. The
Company, in its discretion, may postpone the issuance or delivery of Shares
under any Award or Director's Option until completion of such stock exchange or
market system listing or registration or qualification of such Shares or other
required action under any state or federal law, rule or regulation as the
Company may consider appropriate, and may require any Participant to make such
representations and furnish such information as it may consider appropriate in
connection with the issuance or delivery of Shares in compliance with applicable
laws, rules and regulations. No provisions of the Plan shall be interpreted or
construed to obligate the Company to register any Shares under federal or state
law.

     b. No Right to Continued Employment or Service. Neither the Plan nor any
action taken thereunder shall be construed as giving any employee or director
the right to be retained in the employ or service of the Company or any of its
Subsidiaries or Affiliates, nor shall it interfere in any way with the right of
the Company or any of its Subsidiaries or Affiliates to terminate any employee's
or director's employment or service at any time.

     c. Taxes. The Company or any Subsidiary or Affiliate is authorized to
withhold from any Award granted, any payment relating to an Award under the
Plan, including from a distribution of Shares, or any payroll or other payment
to an Eligible Employee, amounts of withholding and other taxes due in
connection with any transaction involving an Award, and to take such other
action as the Committee may deem advisable to enable the Company and Eligible
Employees to satisfy obligations for the payment of withholding taxes and other
tax obligations relating to any Award. This

<PAGE>
                                      -13-

authority shall include authority to withhold or receive Shares or other
property and to make cash payments in respect thereof in satisfaction of an
Eligible Employee's tax obligations.

     d. Changes to the Plan and Awards. The Board may amend, alter, suspend,
discontinue, or terminate the Plan or the Committee's authority to grant Awards
under the Plan without the consent of shareholders of the Company or
Participants, except that any such amendment, alteration, suspension,
discontinuation, or termination shall be subject to the approval of the
Company's shareholders to the extent such shareholder approval is required (i)
in order to insure that Awards granted under the Plan are exempt under Rule
16b-3 or (ii) under Section 422 of the Code; provided, however, that, without
the consent of an affected Participant, no amendment, alteration, suspension,
discontinuation, or termination of the Plan may impair the rights or, in any
other manner, adversely affect the rights of such Participant under any Award or
Director's Option theretofore granted to him or her. Notwithstanding the other
provisions of this paragraph, Section 7 and the other provisions of this Plan
applicable to Director's Options may not be amended more than once every six
months other than to comport with changes in the Code, the Employee Retirement
Income Security Act of 1974, as amended, or the rules thereunder.

     e. No Rights to Awards; No Shareholder Riqhts. No Eligible Employee or
employee shall have any claim to be granted any Award under the Plan, and there
is no obligation for uniformity of treatment of Eligible Employees and
employees. No Award shall confer on any Eligible Employee any of the rights of a
shareholder of the Company unless and until Shares are duly issued or
transferred to the Eligible Employee in accordance with the terms of the Award.

     f. Unfunded Status of Awards. The Plan is intended to constitute an
"unfunded" plan for incentive compensation. With respect to any payments not yet
made to a Participant pursuant to an Award or Director's Option, nothing
contained in the Plan or any Award or Director's Option shall give any such
Participant any rights that are greater than those of a general creditor of the
Company; provided, however, that the Committee may authorize the creation of
trusts or make other arrangements to meet the Company's obligations under the
Plan to deliver cash, Shares, other Awards, or other property pursuant to any
Award, which trusts or other arrangements shall be consistent with the
"unfunded" status of the Plan unless the Committee otherwise determines with the
consent of each affected Participant.

     g. Nonexclusivity of the Plan. Neither the adoption of the Plan by the
Board nor its submission to the shareholders of the Company for approval shall
be construed as creating any limitations on the power of the Board to adopt such
other incentive arrangements as it may deem desirable, including, without
limitation, the granting of options and other awards otherwise than under the
Plan, and such arrangements may be either applicable generally or only in
specific cases.

     h. Not Compensation for Benefit Plans. No Award payable under this Plan
shall be deemed salary or compensation for the purpose of computing benefits
under any benefit plan or other arrangement of the Company for the benefit of
its employees or directors unless the Company shall determine otherwise.

<PAGE>
                                      -14-

     i. No Fractional Shares. No fractional Shares shall be issued or delivered
pursuant to the Plan or any Award or Director's Option. In the case of Awards to
Eligible Employees, the Committee shall determine whether cash, other Awards, or
other property shall be issued or paid in lieu of such fractional Shares or
whether such fractional Shares or any rights thereto shall be forfeited or
otherwise eliminated. In the case of Director's options, cash shall be paid in
lieu of such fractional shares.

     j. Governing Law. The validity, construction, and effect of the Plan, any
rules and regulations relating toand any Award Agreement shall be determined in
the Plan, and any Award Agreement shall determined in accordance with the laws
of New York without giving effect to principles of conflict of laws.

     k. Effective Date; Plan Termination. The Plan shall become effective as of
February 28, 1995 (the "Effective Date") upon approval by the affirmative votes
of the holders of a majority of voting securities of the Company. The Plan shall
terminate as to future awards on the date which is ten (10) years after the
Effective Date.

     l. Titles and Headings. The titles and headings of the sections in the Plan
are for convenience of reference only. In the event of any conflict, the text of
the Plan, rather than such titles or headings, shall control.EXHIBIT 10.3

                                ESCROW AGREEMENT

This ESCROW AGREEMENT, (the "Escrow Agreement") dated May 31, 2000 by and among
WhOOdoo.com, Inc., a Delaware corporation, ("Seller"), K2 Ventures, Inc., a
Bermuda corporation, ("Purchaser"), Paulo Mylla ("Mylla"), Brian Leith
("Leith"), Kevin Casey, Sharon Snew, Stephanie Pera, and Earnest Sittenfeld
(collectively referred to as "Other Shareholders"), and Michael Harris, P.A.
(the "Escrow Agent").

         WHEREAS, Mylla has agreed to purchase some of the assets of Seller (the
"Assets"), as more specifically described in Schedule A attached hereto, for
$1.00, and has agreed to guarantee receivables of the Seller, as more
specifically described in Schedule D attached hereto.

         WHEREAS, Leith has agreed to release Seller, Mylla, and certain other
parties to this Escrow Agreement from any liability or claim that Leith may have
against such parties for past or future actions and to seek dismissal of any
actions currently pending and involving any parties to this Escrow Agreement in
exchange for all rights to Seller's property known as "Post Offer," as is,
without supporting hardware.

         WHEREAS, Purchaser has agreed to purchase 11,235,700 shares of common
stock in Seller and assume the liabilities of Seller enumerated in Schedule B
attached hereto, as represented and warranted as a complete list of all existing
liabilities of Seller.

         WHEREAS, the Escrow Agent desires to serve as the agent for the escrow
required by the Escrow Agreement.

         WHEREAS, the parties desire to enter into this Escrow Agreement
evidencing the arrangements concerning the Deposit (as defined below) and the
rights and obligations of the parties with respect thereto.

                                       1
<PAGE>

         For and in consideration of the promises contained in this Escrow
Agreement the receipt and sufficiency of which are hereby acknowledged, and the
mutual agreements set forth herein, the parties hereby agree as follows:

Section 1. Deposit.

The parties have caused (or shall cause) to be delivered to the Escrow Agent the
following (collectively referred to as the "Deposit"):

         (i)      executed resignations of all officers and directors of Seller;

         (ii)     executed unanimous consents to the action of which this Escrow
                  Agreement is a part by the Board of Directors of Seller;

         (iii)    executed shareholder consent by Mylla to the sale of the
                  Assets as described herein;

         (iv)     Mylla, Leith, and Other Shareholders have delivered to Escrow
                  Agent certificates representing a total of 10,545,000 shares
                  of common stock of Seller with medallion guaranteed
                  endorsements and all requisite stock powers, necessary to
                  effectuate the transfer of the said stock pursuant to this
                  Escrow Agreement;

         (v)      Leith shall cause a certificate representing 920,000 shares of
                  common stock of Seller issued to Latitude 32, Inc., a Bermuda
                  corporation, to be delivered to Escrow Agent with medallion
                  guaranteed endorsements and all requisite stock powers,
                  necessary to effectuate the transfer of the said stock
                  pursuant to this Escrow Agreement;

         (vi)     Leith has delivered to Escrow Agent an Agreement dated May
                  11th which releases all defendants from his pending litigation
                  and releasing Seller, Purchaser, and Mylla from any existing
                  and potential actions relating to the parties association with
                  Seller;

                                       2
<PAGE>

Section 2. Sale of Assets - Sale of Common Stock.

         At such time as the condition specified in Section 4a. shall occur on
or before 6:00 p.m. Miami time on July 30, 2000, the following actions shall
simultaneously occur:

a.       Mylla shall purchase the Assets by tendering to the Seller $1.00;

b.       Mylla, Leith and the Other Shareholders shall return common stock to
         the Seller for no consideration in the amounts reflected on Schedule C;

c.       The Purchaser shall pay the liabilities specified on Schedule B;

d.       Mylla, Leith and the Other Shareholders each represents and warrants to
         his or her knowledge that the Seller has no liabilities except as
         reflected on Schedule B.

e.       Mylla shall cause BGS (Southwest), Inc. to cancel all agreements with
         the Seller and release all liabilities of the Seller to it; [issue of
         lease] and

f.       Mylla shall pay to the Seller any of the accounts receivable of the
         Seller reflected on Schedule D which remain unpaid as of July 31, 2000.

Section 3. Duties of Escrow Agent.

a.       The Escrow Agent acknowledges the receipt of the Deposit and shall hold
         said Deposit in accordance with the terms and conditions of this Escrow
         Agreement. The Escrow Agent shall not be responsible for the
         sufficiency or accuracy of the form, execution, validity, or
         genuineness of documents or securities deposited hereunder, or of any
         endorsement thereon, or for any description therein, nor shall the
         Escrow Agent be responsible or liable in any

                                       3
<PAGE>

         respect on account of the identity, authority, or rights of the persons
         executing or delivering or purporting to execute or deliver any such
         document, security, or endorsement.

b.       Escrow Agent shall promptly forward the certificates of Mylla, Leith,
         and Other Shareholders to the Seller's transfer agent for re-issuance
         in the amounts and to the entities listed in Schedule C attached hereto
         and then hold the certificates in escrow after receipt from the
         transfer agent.

Section 4. Delivery of Deposit.

The Escrow Agent shall hold the Deposit pursuant to the terms and conditions of
this Escrow Agreement until such time as all the following events have occurred:

a.       At such time as an information statement as to the sale of the Assets
         has been filed with and cleared comments of the Securities and Exchange
         Commission and the documents referred to in Section 1(v) hereof have
         been received by the Escrow Agent prior to July 30, 2000 at 6:00 p.m.
         Miami time.

b.       July 30, 2000 at 6:00 p.m. Miami time.

c.       Notwithstanding anything contained in this Section 3 to the contrary,
         upon receipt of written notice that a disagreement within the meaning
         of Section 8 below exists, the provisions of Section 8 shall control.

Upon the occurrence of the condition in Section 4a., the Escrow Agent shall
deliver the Seller's stock certificates as reflected on Schedule C and the
remaining items in Section 1 to the Purchaser. Upon the occurrence of the
condition specified in Section 4b. without the prior receipt of the documents
specified in Section 1(v), the Escrow Agent shall deliver the Seller's stock
certificates as reflected on

                                       4
<PAGE>

Schedule C, the items in Section 1(i), (ii), and (iii) to Mylla and the items in
Section 1(vi) to Leith.

Section 5. Delivery Upon Mutual Demand.

Upon demand, in writing, of all parties to this Escrow Agreement at any time,
the Deposit shall be delivered by the Escrow Agent as the parties direct.

Section 6. Escrow Agent and Duty.

The Escrow Agent shall not be responsible for any act or omission on its part so
long as the Escrow Agent acts in good faith. The Escrow Agent may rely upon any
notice, certificate, affidavit, release letter or other paper or document which
the Escrow Agent believes to be genuine and the Escrow Agent shall not be liable
when the Escrow Agent relies on such genuineness in good faith.

Section 7. Disputes and Termination.

a.       If at any time a dispute shall exist as to the duties of the Escrow
         Agent and the terms thereof, the Escrow Agent may pay the Deposit to
         the Clerk of the Court of Palm Beach County, State of Florida and may
         interplead the parties hereto. Upon so depositing such funds and filing
         its complaint in the interpleader, the Escrow Agent shall be completely
         discharged and released from all further liability or responsibility
         under the terms hereof.

b.       Should this Agreement be terminated, Mylla shall receive an executed
         resignation of Eric Pinkney as an officer and director; and an executed
         unanimous consent re-appointing the officers and directors who
         submitted resignations referred to in Section 1(i) above.

                                       5
<PAGE>

Section 8. Resignation of Escrow Agent.

a.       The Escrow Agent may resign at any time by giving written notice to the
         Seller and the Purchaser, transmitted by any of the following means:

         (i)      facsimile transmission to the facsimile number given below,
                  provided that personal telephonic confirmation of receipt is
                  obtained by the sender from the recipient promptly after
                  completion of transmission,

         (ii)     a nationally recognized overnight courier service, or

         (iii)    the Express Mail service maintained by the United States
                  Postal Service, and addressed as follows:

                  If to Seller, to:

                  WhOOdoo.com, Inc.
                  1660 Trade Center Way
                  Naples, Florida  34109
                  Tel. No. (941) 594-2700
                  Fax  No. (941) 594-2701

                  If to Purchaser, to:

                  K2 Ventures, Inc.
                  c/o Waterstreet Corp. Services Ltd.
                  LOM Building
                  27 Reid Street, Hamilton,
                  HM11 Bermuda
                  Tel. No. ______________
                  Fax. No. ______________

                  If to Paulo Mylla, to:

                  1660 Trade Center Way
                  Naples, Florida  34109
                  Tel. No. (941) 594-2700
                  Fax  No. (941) 594-2701

                                       6
<PAGE>

                  If to Brian Leith, to:

                  _______________________
                  _______________________
                  _________
                  Tel. No. ______________
                  Fax. No. ______________

                  If to Other Shareholders, to:

                  _______________________
                  _______________________
                  _________
                  Tel. No. ______________
                  Fax. No. ______________

                  _______________________
                  _______________________
                  _________
                  Tel. No. ______________
                  Fax. No. ______________

                  _______________________
                  _______________________
                  _________
                  Tel. No. ______________
                  Fax. No. ______________

                  _______________________
                  _______________________
                  _________
                  Tel. No. ______________
                  Fax. No. ______________

         Any party may change its address for the purpose of this Section 8. by
         giving the other parties written notice of its new address in the
         manner set forth above.

b.       In the event of the resignation of the Escrow Agent, the successor
         escrow agent shall be chosen by the Seller and shall be a corporation
         having capital, surplus and undivided profits in

                                       7
<PAGE>

         excess of Two Million Dollars ($2,000,000) and duly qualified to serve
         as an escrow agent under the laws of the United States of America or
         Florida law. The Escrow Agent who has resigned shall, as soon as
         practicable, deliver to the successor escrow agent the Deposit and a
         current account of the affairs of the Deposit.

c.       Any successor escrow agent shall have the rights, powers, title and
         discretion of the original escrow agent hereunder and shall be charged
         with all the duties and obligations of the original escrow agent
         hereunder.

Section 9. Disagreements Over Release of Deposit.

If there is any disagreement between the Purchaser and the Seller or among them
and any other party to this Escrow Agreement, resulting in adverse claims and
demands being made in connection with, or for, the Deposit, the Escrow Agent
shall refuse to comply with the claims or demands as long as such disagreement
shall continue, and in so refusing the Escrow Agent shall make no delivery or
other disposition of Deposit and in so doing the Escrow Agent shall not be or
become liable in any way to any person for its failure or refusal to comply with
such conflicting or adverse demands; the Escrow Agent shall only deliver the
Deposit as otherwise provided herein. The Escrow Agent shall be entitled to
continue so to refrain from acting and so refuse to act in respect to the
disputed portion of the Deposit until the Escrow Agent receives authorization as
follows:

         (i)      authorization executed by the Sellers and the Purchaser; or

         (ii)     a certified or file-stamped copy of a court order resolving
                  the disagreement or directing a specific distribution of the
                  Deposit.

Upon receipt of any such document, the Escrow Agent shall promptly act according
to its terms,

                                       8
<PAGE>

thereby being relieved from any duty, responsibility or liability arising from
the adverse claims and demands or from the terms of this Escrow Agreement with
respect to the Deposit, as applicable, covered by the terms of such document.

Section 10. Discharge of Escrow Agent.

The delivery of the Deposit, in accordance herewith, shall terminate this Escrow
Agreement and wholly discharge the Escrow Agent from all responsibility
hereunder.

Section 11. Other Agreements.

The Escrow Agent shall be deemed to have no notice of, and shall not be
controlled, limited or bound by any of the provisions contained in any
agreement, contract, or document among the Seller and the Purchaser and any
other person, except as such provision is specifically contained herein.

Section 12. Headings.

The article, section and paragraph headings in this Escrow Agreement are for
reference purposes only and shall not affect the meaning or interpretation of
this Escrow Agreement.

Section 13. Construction.

a.       The parties have participated jointly in the negotiation and drafting
         of this Escrow Agreement, and, in the event of an ambiguity or a
         question of intent or a need for interpretation arises, this Escrow
         Agreement shall be construed as if drafted jointly by the parties and
         no presumption or burden of proof shall arise favoring or disfavoring
         any party by virtue of the authorship of any of the provisions of this
         Escrow Agreement.

                                       9
<PAGE>

b.       Except as otherwise specifically provided in this Escrow Agreement
         (such as by "sole," "absolute discretion," "complete discretion", or
         words of similar import), if any provision of this Escrow Agreement
         requires or provides for the consent, waiver, or approval of a party,
         such consent, waiver, and/or approval shall not be unreasonably
         withheld.

c.       Words of any gender used in this Escrow Agreement shall be held and
         construed to include any other gender; words in the singular shall be
         held to include the plural; and words in the plural shall be held to
         include the singular; unless and only to the extent the context
         indicates otherwise. Any reference to any federal, state, local, or
         foreign statute or law shall be deemed also to refer to all rules and
         regulations promulgated thereunder, unless the context requires
         otherwise. The word "including" means "including, without limitation."

Section 14. Severability.

If any provision of this Escrow Agreement is declared by any court or other
governmental body to be null, void, or unenforceable, this Escrow Agreement
shall be construed so that the provision at issue shall survive to the extent it
is not so declared and that all of the other provisions of this Escrow Agreement
shall remain in full force and effect.

Section 15. Entire Agreement.

This Escrow Agreement contains the entire understanding among the parties hereto
with respect to the transactions contemplated hereby and supersedes and replaces
all prior and contemporaneous agreements and understandings, oral or written,
with regard to those transactions.

Section 16. Amendments; Waivers.

This Escrow Agreement may be amended or modified, and any

                                       10
<PAGE>

of the terms, covenants, representations, warranties, or conditions hereof may
be waived, only by a written instrument executed by the parties hereto, or in
the case of a waiver, by the party waiving compliance. Any waiver by any party
of any condition, or of the breach of any provision, term, covenant,
representation, or warranty contained in this Escrow Agreement, in any one or
more instances, shall not be deemed to be or construed as a further or
continuing waiver of any condition or of the breach of any other provision,
term, covenant, representation, or warranty of this Escrow Agreement.

Section 17. Parties in Interest.

Nothing in this Escrow Agreement is intended to confer any rights or remedies
under or by reason of this Agreement on any Person other than the parties to
this Escrow Agreement and their respective successors and permitted assigns.

Section 18.  Acknowledgement.

It is understood and acknowledged by all parties to this Escrow Agreement, that
the law firm of Michael Harris, P.A. has prepared this Escrow Agreement in
connection with its representation of and in its capacity as counsel for the
Seller, and no other party.

Section 19. Successors and Assigns.

No party hereto shall assign or delegate this Escrow Agreement or any rights or
obligations hereunder without the prior written consent of the other parties
hereto, and any attempted assignment or delegation without prior written consent
shall be void and of no force or effect. This Escrow Agreement shall inure to
the benefit of and shall be binding upon the successors and permitted assigns of
the parties hereto.

                                       11
<PAGE>

Section 20. Governing Law; Jurisdiction.

This Agreement shall be construed and enforced in accordance with, and governed
by, the laws of the State of Florida (without giving effect to the principles of
conflicts of laws thereof). The parties hereto irrevocably agree and consent to
the non-exclusive jurisdiction of the courts of the State of Florida and the
federal courts of the United States, sitting in the Southern District of Florida
for the adjudication of any matters arising under or in connection with this
Escrow Agreement.

Section 21. Counterparts.

This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original, but all of which shall together constitute the same
instrument.

Section 22. Legal Opinion.

The Seller shall cause its counsel to promptly issue legal opinions relying upon
legal opinions submitted by Mylla, Leith and the Other Shareholders at such
times as shares of common stock are sold under Rule 144 as long as the opinions
submitted to the Seller's counsel are consistent with Rule 144.

IN WITNESS WHEREOF, the parties hereto have executed, or caused to be executed
by their duly authorized representatives, this Escrow Agreement as of the date
first above written.

                                        Michael Harris, P.A.

                                        By:
                                           -------------------------------------
                                           Michael D. Harris, President

                                       12
<PAGE>

                                      ESCROW AGENT:
                                                   -----------------------------
                                      WhOOdoo.com, Inc., a Delaware corporation

                                      By:
                                         ---------------------------------------
                                      President

                                      K2 Ventures, Inc., a Bermuda corporation

                                      By:
                                         ---------------------------------------

                                      ------------------------------------------
                                      Paulo Mylla

                                      ------------------------------------------
                                      Brian Leith

                                      ------------------------------------------
                                      Ernest Sittenfield

                                      ------------------------------------------
                                      Kevin Casey

                                      ------------------------------------------
                                      Sharon Snew

                                      ------------------------------------------
                                      Stephanie Pera

                                       13
<PAGE>

                                   SCHEDULE A

                                 ITEMIZED ASSETS

                  WhOOdoo.com, Inc CUSTOMERS TO BE TRANSFERED
--------------------------------------------------------------------------------
Nancy Todd, Inc.
Deangelis Diamond Construction
John Soave, Inc.
River Reach
Management Recruiters
Suntamers
Phoenix Associates
Hortifruit
Internal Medicine Association
Nmagazine
Grate Technologies
Nature Trade Center (Biogenetics)
Ocean Conversions
Padulo International
PBS
Southwest Florida College
Consel Florida Inc.
Vacations Consulting(Brazil Nuts)
Nicole Caramel
G. Brynjulson
Coastline Shutters
Southern Bay Homes
Stefan Hafner
26 North
Brainchild
BJ Haas/levane
Cobwebs and Chameleons
We Want Wisdom
Naples Airport Authority
Onboard Catering
Forum Design
Tyton Painting
NN First Baptist Church (Email accounts)
PRN
Smart Golf
Stahlman-EEngland/rain4u

                                       14
<PAGE>

Heavenly Cigar
Sunshine Mortgage.net
Forefront Accounts
collierpetcare.com
palmriverllc.com
reflectionssofnaples.com
kathypadgettgolf.com
fwddev.com
straightsmile.com
bethsoboutique.com
fwddev.com
billsmarinererpair.com

                                       15
<PAGE>

Software License Keys

Windows 2000 Server JY4W9-YBXBD-TPV7F-H83HC-7QMC
Windows 2000 Server Q6PB3-FYQ4G-VFMYF-V4Q6M-TKMKJ
Visio 2000 122-519-527167
Cold Fusion Server 4.0 CF40PNT-1061343615
Cold fusion Studio 4 CF40STU-1258415897
Microsoft Office 97 Professional 8145-2232667
Microsoft Proxy Server 810-1670752
Microsoft SQL Server 7.0 374-7926074
Microsoft Windows 98 KRP8T-B49XX-83JDB-89KRQ-9FYW8
Real Server version 5.0 234008
Real Server G2 51026
PC Anywhere 031-8052-016-4549
Macromedia Flash flw400-07761-17245-59830
Microsoft Windows NT Workstation 104692-001
Microsoft Backoffice Server 4.5 325-5620305
Microsoft Visual Studio 6.0 Professional Edition 874-8683476
                                                 814-8157151
Microsoft Visual Interdev 6.0 Professional Edition 874-4802716
                                                   325-6265351
Microsoft Windows NT Server 874-7460317
Microsoft Windows NT Server Enterprise Edition 325-6577021
Microsoft SQL Server 7.0 Enterprise Edition 874-5720322
Microsoft Office 2000 Professional RGMRQ-K1D3Y-FTG2M-QKCVR-J3T2J
                                   MCVCV-KR7DY-P9Q8P-WYDHX-WRDW9
Microsoft Office 2000 Small Business B2TKP-WT9WF-CVDP2-BGCXC-BBR3M
Adobe Acrobat 4.0 KWW400R7260435-290
Adobe Indesign IPW100R7117762-896
Adobe Photoshop 5.0 PWW550R7156162-756
                    SDM401B13799829-477
                    PWW401R7121584-597

Adobe Photoshop 4.0 PWW401R7121584-597
Adobe Illustrator ABW800R7184018-248
Adobe Premiere 5.0 MBW500B7107938-480
Microsoft Front Page 2000 Q69JM-W48FH
Backup Exec 05-4527-0008-773999
            02-7220-0009-067402
            04-7217-003-030177
            03-7529-0000-037557
            03-7259-0000-037557
            02-7220-0009-067402
            04-7217-0003-030177

                                       16
<PAGE>

Symantec Version 4.0 07-26-00221
Symantec Version 4.0 07-26-00223
Microsoft Windows 2000 Professional G637X-HPG29-M9XT8-QCD3B-M6YCY
                                    VX42T-MDQV3-KKT63-QFHKX-4FKPT
                                    GM68H-26FH2-6M36M-X7VBG-PH34D
                                    TTGRV-KDMWR-WTFW9-TK47C-K3WV8
                                    MT6RX-BWYT3-VR84J-26VQD-RQKGJ
                                    HJRP2-KB4G2-HCRFM-D9923-KRRR3
                                    TYP6B-G2QKH-H73RH-J9TOJ-G2DR3
                                    H6G94-TWTY9-PT43M-8BKQR-QMHFY

Microsoft Front Page 2000 QHWVJ-24WV3-RYGB9-386MV-4TBRR
Microsoft Front Page 98 3123-0623897
                        3123-0128494
Web Trends Log Analyzer LASUB-090198
Microsoft Outlook 2000 BWD3C-WFT4H-WCY6Z-XHRQJ-8JBRB
Microsoft Backoffice Server 814-7185167
Microsoft Backoffice Small Business Server 814-8497034
Microsoft Site Server  814-83766972

                                       17
<PAGE>

                                 Software Assets
--------------------------------------------------------------------------------
Description                                Serial #

Adobe                                      ABW80OC71
Illustrator                                06961-806
Adobe                                      MBW500B71
Premiere                                   5.0 07938-480
Adobe                                      PWW401R7
Photoshop                                  4 121584-597
Adobe                                      PWW401R7
Photoshop                                  5 121584-597
1 HP Scanning                              C6297-
Software                                   15500
HP Scanjet                                 C5112-
Scanner                                    15501
HP Scanjet                                 C5112-
Scanner                                    15501
HP Surestore                               C4380-
CD Writer Plus                             12000
Easy Cd
Creator
Smart &                                    495148-00
Friendly
Pc Anywhere                                07-83-00157
Version 8.0
Meta Info News                             761lGl-74
Channel
Net Objects CM-W-
Fusion                                     10006~01
Corel                                      OVW32<288
Web Designer                               >25OWDSN
El1078
HP LaserJet
6P&6MP
HP LaserJet
6P&6MP
Adobe Type On                              039717874/9
Call                                       6
Macromedia                                 FLD200-
Flash 2                                    09365-
                                           37071-93686
Macromedia                                 FLD200-
Flash    2                                 02060-

                                       18
<PAGE>

                                           47071-83617
Macromedia                                 FLW300055           Listed item 22
Flash 3                                    69-57032-
                                           2503
Kurzweil Voice                             KURZ2520-
Pro                                        11011928
Smart Business                             42-63009-01
Card Reader
WebTrends                                  87585119
CorelDraw7                                 DR7-
                                           8264C58514
Seagate                                    #ST031001
Backup-Exec                                220-201
                                           #SBE-
                                           CWWD-
                                           001ST
Microsoft                                  KRP8T-
Windows 98                                 B49XX-
                                           83JDB-
                                           89KRQ-
                                           9FYW8
Microsoft                                  HP-PC

Windows 98                                 DWPRQ-
                                           XKGTY-
                                           RFKQF-
                                           BJCHM-
                                           K4BWD
Microsoft                                  8078-
FrontPage97                                3604645
Microsoft                                  3123-
FrontPage98                                0623897
Microsoft                                  3123-
FrontPage98                                0128494
Microsoft Office                           8145-
97 Professional                            2232667
edition with
Bookshelf
Basics
10 licenses
Microsoft                                  3256-
Publisher 98                               2678642
Microsoft LIBRARY
Visual                                     X03-86016
Studio6.0 LIBRARY

                                       19
<PAGE>

                                           X03-73112
                                           J++ 325-
                                           1604253
VISUAL
STUDIO
                                           814-8157151
Microsoft                                  X03-45849
Internet
Explorer
Microsoft                                  814-7185167
BackOffice
Server
1 license
10 client
license
Microsoft                                  8145-
Outlook                                    0703056
Microsoft                                  814-8497034
BackOffice
Small Business
Server
1 server license
2 client
licences
Microsoft                                  20097-OEM-
Windows NT                                 0024294-
Server                                     87919
Microsoft                                  815-3910726
Windows NT
Workstation
Microsoft Site                             814-8376972
Server
Microsoft Proxy                            810-1670752
Server
Microsoft                                  23097-0EM-
Bookshelf 96                               0024276
Microsoft                                  23097-
Bookshelf 96                               OEMO02427
                                           6-92526
Microsoft                                  23097-0EM-
Bookshelf 96                               0024276-
                                           58864
Microsoft Office                           25297-0EM-

                                       20
<PAGE>

Small Business                             00245555-
Version                                    76452
Microsoft Office                           25297-0EM-
Small Business                             0024564-
Version                                    02490
Microsoft Office                           25297-0EM-
Small Business                             0024555-
Version                                    77481
Intel                                      687439-001
NetportExpress
Print Server
Microsoft                                  25297-0EM-
Windows 95                                 0024555-
                                           39362
Microsoft                                  12697-0EM-
Windows 95                                 0022343-
                                           77777
Microsoft                                  26197-0EM-
Windows 95                                 00~4796
Microsoft                                  05197-0EM-
Windows 95                                 0020903-
                                           86476
Microsoft                                  25297-0EM-
Windows 95                                 0024555-
                                           32071
Microsoft                                  26197-0EM-
Windows 95                                 0024796-
                                           76665
Microsoft                                  26197-0EM-
Windows 95                                 0024796-
                                           76687
Microsoft                                  19996-0EM-
Windows 95                                  0013604-
                                           45959
Microsoft                                  05197-0EM-
Plus 1.0                                   0020937-
Money 5.0                                  57237
Encarta 97
3D Movie
maker
Bookshelf
Works
LaserJet                                   5021-0370
Internet

                                       21
<PAGE>

Publishing Kit
LaserJet                                   5021-0370
Internet
Publishing Kit
WillowwTalk
FileMaker                                  1-1014-
Pro4.0                                     0877-9606-
4362
Real Server 5.0                            5e6l0zc862
Real Server 5.0                            507930a5e3
                                           3154030064
                                           0702foo0790
                                           0021061054
                                           1af7767d559
                                           007702
Real Server 5.0                            6c610zf1d2f
Upgrade                                    0793db59f35
                                           7eO2001107
                                           0260007boo
                                           0020043014
                                           12c165f8590
                                           0740a
Real Server G2 P/N
Upgrade                                    23001008
Real Publisher                             51002
Real Publisher                             51002
Miro PPN CD-
VideoDC30                                  0007-3.0
Plus
TitleDeko PPN CD-
                                           0010-1.0A
Peach Tree                                 10604990
Complete
Accounting
QuickCam                                   1073-800-
                                           002
PowerChute                                 991-2000
Plus
US Robotics                                1.031.002-00
Software PV(!-
Library Sony 130/150
Vaio
QuickCad                                   110-5734014

                                       22
<PAGE>

MS Office SBE                       5      12011442ASS0112 12041651
MS Office Professional              7      12011442ASS0112 12041651
MS BackOffice CAL                   18
MS BackOffice Server                1
MS Visual Studio                    3      12011442ASS0112 12041651
MS Visual Interdev                  2      12011442ASS0112 12041651
Norton Solutions Suite              25     07-83-00331
Adobe Design Collection             2
Macromedia Flash                    1      FLW400-07761-17245-59830
Veritas BackupExec for NT           1
Single Server                              05-4527-0008-773999
Veritas BackupExec Exchange         1
Agent                                      02-7220-0009-067402
Veritas BackupExec Open File        1
Agent                                      03-7259-0000-037557
Veritas BackupExec SQL Agent        1      04-7217-0003-030177
Cheyenne FaxServe w/25 users        1      82600124
MS Office SBE Media Kit             1
MS Office Professional Media        1
Kit
MS BackOffice Server Media Kit      1
MS Visual Studio Kit                1
MS Visual Interdev Kit              1
Norton Solutions Media Kit          1
Windows 95                          5
Windows 98                          5      12038329AAS0201 12068530
Windows NT Workstation              10
WebTrends                           1      5000004-EGE-1990242
Microsoft Windows NT Server         2
4.0 License                                12044521BRS0201 12074873
Microsoft NT Enterprise Server      2
License                                    12044521BRS0201 12074873
Microsoft SQL Server                2
Enterprise Edition License                 12044521BRS0201 12074873
Microsoft Internet Connector        8      12044521BRS0201 12074873

                                       23
<PAGE>

Microsoft Windows NT Sever 4.0      1
Media
Microsoft NT Enterprise Server      1
Media
Microsoft SQL Server                1
Enterprise Edition Media
VISIO 2000 Standard CD PC           1
WebIMAP unlimited user
license, plus 12 months free
suppor & upgrades -                 1
US$485/NZ$914
MailSite Enterprise License         1      31535
Volume 42 - Everyday Living         1
(version 2)
Volume 74 - US Landmarks and        1
Travel 2
Volume 66 - technoculture and       1
Urban Life
Object Series 2 - Faces & Hands     1
Object Series 4 - Retro Relics      1
Object Series 43 - Medicine         1
and Technology
Web E-ssentials                     1

                                       24
<PAGE>

--------------------------------------------------------------------------------
       INTELLECTUAL PROPERTIES
--------------------------------------------------------------------------------
              Sites/Source Code/software for:
--------------------------------------------------------------------------------
                          whoodoo.com
                          Aqueous.com
                          Auction site
                          whoomail.com
--------------------------------------------------------------------------------
              Domain Names
--------------------------------------------------------------------------------
                          whoodoo.com
                          whoodoo.net
                          BGSSWF.net
                          ICSdev.net
                          whodo.com
                          whodo.net
                          Aqueous.com
--------------------------------------------------------------------------------
              Trademarks
--------------------------------------------------------------------------------
                          whoodoo.com logo
                          whoodoo.com name
--------------------------------------------------------------------------------

                                       25
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
B. OFFICE EQUIPMENT
-------------------------------------------------------------------------------------------------------------------
  Item                                                         Number         Serial
-------------------------------------------------------------------------------------------------------------------
<S>                                                              <C>        <C>
Copier Xerox                                                                74h24114799
Facsimile Panasonic KXF1150                                                 6larbo22987
-------------------------------------------------------------------------------------------------------------------
C. COMPUTER EQUIPMENT
-------------------------------------------------------------------------------------------------------------------
  Item                                                         Number         Serial
-------------------------------------------------------------------------------------------------------------------
Dell Dimesion XPS 300MHz Pentium II MinTower base                2          BRV7C/BRV7Q/
withMMX Technology and 512K Cashe
-------------------------------------------------------------------------------------------------------------------
Microsoft PS2 Intellimouse, shipped with system                  2          BRV7C/BRV7Q/
-------------------------------------------------------------------------------------------------------------------
WIN 95 Spacesaver Quiet Key, 104 Key Keyboard,                   2          BRV7C/BRV7Q/
Factory Installed
-------------------------------------------------------------------------------------------------------------------
128MB, SDRAM, DIMM< ECC, Factory Installed                       2          BRV7C/BRV7Q/
-------------------------------------------------------------------------------------------------------------------
Altec ACS90 Speakers Shipped with system                         2          BRV7C/BRV7Q/
-------------------------------------------------------------------------------------------------------------------
Creative Labs AWE64 ISA Sound Card, Factory Installed            2          BRV7C/BRV7Q/
-------------------------------------------------------------------------------------------------------------------
12/24x EIDE CD ROM, Factory installed                            2          BRV7C/BRV7Q/
-------------------------------------------------------------------------------------------------------------------
Dell 1200HS, Model #D1226H, with 17.9"viewable Image             2          86385/86385-codtu
size, color monitor
-------------------------------------------------------------------------------------------------------------------
STB, Nitro, 4MB, Virge GX, SPS PCI, video board,                 2          BRV7C/BRV7Q/
factory installed
-------------------------------------------------------------------------------------------------------------------
3.5, 1.44MB floppy drive, factory installed                      2          BRV7C/BRV7Q/
-------------------------------------------------------------------------------------------------------------------
4.3GB EIDE ultra ATA hard drive, factory installed               2          BRV7C/BRV7Q/
-------------------------------------------------------------------------------------------------------------------
Iomega Zip drive for Windows 95 factory installed                2          BRV7C/BRV7Q/
-------------------------------------------------------------------------------------------------------------------
Windows '95 CD ROM factory installed                             2          BRV7C/BRV7Q/
-------------------------------------------------------------------------------------------------------------------
3 Com, 3C905-TX, Ethernet, network card, Windows 95              2          BRV7C/BRV7Q/
factory installed
-------------------------------------------------------------------------------------------------------------------
MS Office 97 small business edition, CD, factory                 2          BRV7C/BRV7Q/
installed US English
-------------------------------------------------------------------------------------------------------------------
MS Bookshelf 96 on CD, W95, NT4.0, US English,                   2          BRV7C/BRV7Q/
Factory installed
-------------------------------------------------------------------------------------------------------------------
Dell Dimesion XPS 300MHz Pentium II MinTower base                1          BRX1P
withMMX Technology and 512K Cashe
-------------------------------------------------------------------------------------------------------------------
Microsoft PS2 Intellimouse, shipped with system                  1          BRX1P
-------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       26
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
<S>                                                              <C>        <C>
WIN 95 Spacesaver Quiet Key Keyboard, Factory                    1          BRX1P
Installed
-------------------------------------------------------------------------------------------------------------------
128 MB, SDRAM, DIMM< ECC, factory installed                      1          BRX1P
-------------------------------------------------------------------------------------------------------------------
Altec ACS90 Speakers Shipped with system                         1          BRX1P
-------------------------------------------------------------------------------------------------------------------
Creative Labs AWE64 ISA Sound Card, Factory Installed            1          BRX1P
-------------------------------------------------------------------------------------------------------------------
12/24x EIDE CD ROM, Factory installed                            1          BRX1P
-------------------------------------------------------------------------------------------------------------------
Ultrascan 1000TX, color monitor, Model #D1025HTX,                1          8055898
15.9" vis, factory installed, dimension
-------------------------------------------------------------------------------------------------------------------
STB, Nitro, 4MB, Virge GX, SPS PCI, video board,                 1          BRX1P
factory installed
-------------------------------------------------------------------------------------------------------------------
3.5, 1.44Floppy drive, factory installed                         1          BRX1P
-------------------------------------------------------------------------------------------------------------------
4.3 EIDE ultra ATA hard drive, factory installed                 1          BRX1P
-------------------------------------------------------------------------------------------------------------------
Iomega Zip drive for Windows 95 factory installed                1          BRX1P
-------------------------------------------------------------------------------------------------------------------
3 Com, 3C905-TX, Ethernet, network card, Windows 95              1          BRX1P
factory installed
-------------------------------------------------------------------------------------------------------------------
MS Office 97 Professional with Bookshelf Basics on CD            1          BRX1P
Factory installed, US., English
-------------------------------------------------------------------------------------------------------------------
Dell PowerEdge 2200 Base, 266 MHz Processor with 512K            2          CJB13/BQP51
cashe
-------------------------------------------------------------------------------------------------------------------
Logited System mouse, with disks not factory installed           2          CJB13/BQP51
-------------------------------------------------------------------------------------------------------------------
Performance 104 key keyboard for Windows 95 factory              2          CJB13/BQP51
installed
-------------------------------------------------------------------------------------------------------------------
Dell PowerEdge 4200, processor terminator card,                  2          CJB13/BQP51
factory installed
-------------------------------------------------------------------------------------------------------------------
8x SCSI CD-ROM drive, factory installed                          2          CJB13/BQP51
-------------------------------------------------------------------------------------------------------------------
Ultrascan 800 HS (13.7"vis) trinitron model #D825HT              5          8463233/7117166/8463235/8470139/8463225
with 13.7"viewable image size for Dell Optiplex,
factory installed
-------------------------------------------------------------------------------------------------------------------
9 GB SCSI Hard drive, factory installed                          2          CJB13/BQP51
-------------------------------------------------------------------------------------------------------------------
Hard drive configuration for Dell PowerEdge 2100                 2          CJB13/BQP51
factory installed
-------------------------------------------------------------------------------------------------------------------
1.4 MB floppy drive for Dell PowerEdge 2200 factory              2          CJB13/BQP51
installed
-------------------------------------------------------------------------------------------------------------------
12/24 GB tape backup, for Dell PowerEdge 2200 factory            2          CJB13/BQP51
installed
-------------------------------------------------------------------------------------------------------------------
ReadyWare installation Fee per system                            2          CJB13/BQP51
-------------------------------------------------------------------------------------------------------------------
Intel EtherExpress PRO 100/B PCI Ethernet Adapter                2          CJB13/BQP51
factory installed
-------------------------------------------------------------------------------------------------------------------
Microsoft NTS 4.0 on CD, 10 client access licenses               2          CJB13/BQP51
OEM packaging, US version non-factory installed
-------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       27
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
<S>                                                              <C>        <C>
128 MB RAM (64MB free) upgrade, 1 DIMM, for Dell                 2          CJB13/BQP51
PowerEdge 2200 factory installed
-------------------------------------------------------------------------------------------------------------------
SMART-UPS 1000VA Net Bundle                                      2          CJB13/BQP51
-------------------------------------------------------------------------------------------------------------------
Superstack II Hub 100TX 12 POR                                   1          CJB13/BQP51
-------------------------------------------------------------------------------------------------------------------
Dell Dimesion 166 MHz Minitower Base with MMX                    3          BQSOC/BQRYS/BQR2
Technology, 512 Cashe and 2 MB video
-------------------------------------------------------------------------------------------------------------------
Microsoft PS2 Intellimouse, factory installed                    3          BQSOC/BQRYS/BQR2
-------------------------------------------------------------------------------------------------------------------
WIN 95 Spacesaver Quiet Key Keyboard, factory                    3          BQSOC/BQRYS/BQR2
installed
-------------------------------------------------------------------------------------------------------------------
64 MB RAM, 2 DIMMS, SDRAM, factory installed                     3          BQSOC/BQRYS/BQR2
-------------------------------------------------------------------------------------------------------------------
Vibra 16C Sound Card for Windows 95, factory installed           3          BQSOC/BQRYS/BQR2
-------------------------------------------------------------------------------------------------------------------
Altec ACS90 Speakers Shipped with system                         3          BQSOC/BQRYS/BQR2
-------------------------------------------------------------------------------------------------------------------
12/24 xEIDE CD ROM factory installed                             3          BQSOC/BQRYS/BQR2
-------------------------------------------------------------------------------------------------------------------
Ultrascan 800 HS (13.7"vis) trinitron model #D825HT              3          8463225
with 13.7"viewable image size for Dell Optiplex,
factory installed
-------------------------------------------------------------------------------------------------------------------
3.2 GB EIDE hard drive, factory installed                        3          BQSOC/BQRYS/BQR2
-------------------------------------------------------------------------------------------------------------------
Iomega, removable storage Zip EIDE, for Windows 95               3          BQSOC/BQRYS/BQR2
factory installed
-------------------------------------------------------------------------------------------------------------------
Windows '95 CD ROM factory installed                             3          BQSOC/BQRYS/BQR2
-------------------------------------------------------------------------------------------------------------------
3C905-TX ENET 10/100 Network dard factory installed              3          BQSOC/BQRYS/BQR2
-------------------------------------------------------------------------------------------------------------------
MS Office 97 small business edition, CD, factory                 3          BQSOC/BQRYS/BQR2
installed US English
-------------------------------------------------------------------------------------------------------------------
MS Bookshelf 96 on CD, W95, NT4.0, US English,                   3          BQSOC/BQRYS/BQR2
Factory installed
-------------------------------------------------------------------------------------------------------------------
IBM PAR PNTR CENT DB25 MALE/36                                   2          BQSOC/BQRYS/BQR2
-------------------------------------------------------------------------------------------------------------------
HP Deskjet 890CXI EXTL                                           1          US789120C9
-------------------------------------------------------------------------------------------------------------------
HP Scanjet 5P 24Bit CLR & 8 BIT                                  2          SG77H1123G/SG74M11OQ
-------------------------------------------------------------------------------------------------------------------
HP Jetdirect EX Hi-performance                                   1
-------------------------------------------------------------------------------------------------------------------
CD-R 2006/Plus 2X INT Recorder                                   1
-------------------------------------------------------------------------------------------------------------------
Digital Mavica still Camera                                      1
-------------------------------------------------------------------------------------------------------------------
Adaptec Fast SCSI-2 Bit PCI Adapter                              1
-------------------------------------------------------------------------------------------------------------------
Back-ups 400 from APC                                            4
-------------------------------------------------------------------------------------------------------------------
APC Back-ups 280 SBY 280VA/180W                                  4
-------------------------------------------------------------------------------------------------------------------
APC Personal Surge Protection (7outlet)                          4
-------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       28
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
<S>                                                              <C>        <C>
APC Personal Surge Protection (7 Outlet+telephone)               1
-------------------------------------------------------------------------------------------------------------------
NET3T Network Surge Arrest (3 Outlet+Modem/fax) from             1
APC
-------------------------------------------------------------------------------------------------------------------
3" CAT5 patch cable                                             14
-------------------------------------------------------------------------------------------------------------------
14" CAT5 patch cable                                             3
-------------------------------------------------------------------------------------------------------------------
25" CAT5 patch cable                                             3
-------------------------------------------------------------------------------------------------------------------
3 Com Fast Ether Link XL/100Mbps PCI RJ 45 Network               4
adapter
-------------------------------------------------------------------------------------------------------------------
Netport Express PRO/100 FastEthernet 2 port ext multi            1
OS print servier by Intel
-------------------------------------------------------------------------------------------------------------------
Etherlink III Ethernet PCCCARD RJ45 NIC Type II PCMCIA           1
-------------------------------------------------------------------------------------------------------------------
19" 4 unit rack mount 9.3"x 12"                                  1
-------------------------------------------------------------------------------------------------------------------
Smart-ups 1000 from APC (6 outlet)                               1
-------------------------------------------------------------------------------------------------------------------
Microsoft Proxy server v2.O for Windows NT CD                    1
-------------------------------------------------------------------------------------------------------------------
Dell Power Vault 20XS 8-Drive Enclosure Base system              1          N009478u-13260
-------------------------------------------------------------------------------------------------------------------
Cable, PERC, 4 Meter for Dell PowerVault 200/201 S,              2          N009478u-13260
factory installed
-------------------------------------------------------------------------------------------------------------------
Deskside Tower Enclosure for Dell PowerVault 200S                1          N009478u-13260
factory installed
-------------------------------------------------------------------------------------------------------------------
Non-redundant power supply, Incl.,closeout panel to              1          N009478u-13260
occupy redundant pwr supply space for ell PV20XS
factory installed
-------------------------------------------------------------------------------------------------------------------
hard drive configuration, increasing order Dell                  1          N009478u-13260
PowerEdge SDS100 and PowerVAult 20XS factory installed
-------------------------------------------------------------------------------------------------------------------
18 GB Hard Drive, 10000RPM for Dell PowerVAult                   1          N009478u-13260
200S/201S, factory installed
-------------------------------------------------------------------------------------------------------------------
two Enclosure services expander modules for dell                 1          N009478u-13260
PowerVault 200S/201S factory installed
-------------------------------------------------------------------------------------------------------------------
4 x 18.2GB LVD SCSI Hard Drives, 10000RPM for Dell               1          N009478u-13260
PowerVAult 200S/201S, 1X 8 Back Plane, factory
installed
-------------------------------------------------------------------------------------------------------------------
No Operating System for Dell PowerEdge Servers                   1          N009478u-13260
-------------------------------------------------------------------------------------------------------------------
Documentation Kit, Hard Copy and on CD, English for              1          N009478u-13260
Dell PowerVault 200S/201S factory installed
-------------------------------------------------------------------------------------------------------------------
SelectCare, next business day on-site service                    1          N009478u-13260
contract, Initial year, Wang
-------------------------------------------------------------------------------------------------------------------
SelectCare, next business day on-site service                    1          N009478u-13260
contract, 2 year extended, Wang
-------------------------------------------------------------------------------------------------------------------
Dell P6500K GX1 p/T+ Base (100 MHz FSB), w/*MB Int               1          OCM8X
Video Memory, Int. Audio, Int, 10/100 WuOL
Networking, 512K Cashe
-------------------------------------------------------------------------------------------------------------------
MOD, RSR, 7 SLT, ACTIVE, MT, WOL                                 1          OCM8X
-------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       29
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
<S>                                                              <C>        <C>
Module, 1 DIMM, 128 MB, ECC, SDRAM                               3          OCM8X
-------------------------------------------------------------------------------------------------------------------
MOD, CD, 680M, I, 17/40X, MT, MOLEX                              1          OCM8X
-------------------------------------------------------------------------------------------------------------------
Kit, Sofware, McAfee Virus Scan 4.02, F5, United                 1          OCM8X
States, Original Equipment Manufacturer
-------------------------------------------------------------------------------------------------------------------
CORD<PWR< 6FT, SJT                                               1          OCM8X
-------------------------------------------------------------------------------------------------------------------
MSE, PS2 6P, 2BTN/WHL, INTELLI, MS                               1          OCM8X
-------------------------------------------------------------------------------------------------------------------
Kit, Documentation/Compact Disk, Windows98, V0.8,                1          OCM8X
compact Disk, English
-------------------------------------------------------------------------------------------------------------------
Hard Drive 8.4GB, Medium Tower                                   1          OCM8X
-------------------------------------------------------------------------------------------------------------------
MOD,CRD, VID, 16M, NVDIA, PCI, STB                               1          OCM8X
-------------------------------------------------------------------------------------------------------------------
DIS, MSCN, CLR, 21, D, D1626HT, US                               1          OCM8X
-------------------------------------------------------------------------------------------------------------------
KIT, SPKR, MM, HRMNK                                             1          OCM8X
-------------------------------------------------------------------------------------------------------------------
Kit, Sofware, Workstations, STE99, JAVA, US, Original            1          OCM8X
equipment mfgr
-------------------------------------------------------------------------------------------------------------------
MOD, FD, 1.44, F3, NBZ, HTRP, NEC                                1          OCM8X
-------------------------------------------------------------------------------------------------------------------
KYBD, 104, 6P, US, W95, MECH, CMOS4                              1          OCM8X
-------------------------------------------------------------------------------------------------------------------
Select care, next business day on site service                   1          OCM8X
Initial year BSC
-------------------------------------------------------------------------------------------------------------------
Select care, next business day on site service 2 year            1          OCM8X
extended, BSC
-------------------------------------------------------------------------------------------------------------------
SVT#0CM8X/Refurbished                                                       OCM8X
-------------------------------------------------------------------------------------------------------------------
BASE, MT, W/O-SND, T500                                          1          OCM8X
-------------------------------------------------------------------------------------------------------------------
Module, Card, Video, 16MB, Accelerated Graphics Port,            1          OCM8X
Diamond
-------------------------------------------------------------------------------------------------------------------
Kit, software, McAfee Virus Scan 4.02, F5 US,                    1          OCM8X
original equip. mfgr
-------------------------------------------------------------------------------------------------------------------
128MB, SDRAM Memory, Factory installed                           1          OCM8X
-------------------------------------------------------------------------------------------------------------------
Module, Modem V80, Internal PC Interface, Coyuote,               1          OCM8X
Asia, Latin, America, North America
-------------------------------------------------------------------------------------------------------------------
CORD, PWR< 6FT, SJT                                              1          OCM8X
-------------------------------------------------------------------------------------------------------------------
MSE, PS2, 6P, 2BTN/WHL, INTELLI, MS                              1          OCM8X
-------------------------------------------------------------------------------------------------------------------
KYBD, 104, 6P, US, NMB, RD, CMOS3                                1
-------------------------------------------------------------------------------------------------------------------
Kit, Documentation/Compact Disk, Windows98, V0.8,                1          OCM8X
compact Disk, English
-------------------------------------------------------------------------------------------------------------------
Module, Card, Audio, Soundblaster                                1          OCM8X
-------------------------------------------------------------------------------------------------------------------
MOD, DVD, 4.7GB, I, F5, TOS, NSND                                1          OCM8X
-------------------------------------------------------------------------------------------------------------------
Module, Floppy Drive, 1.44M, F3, No Bezel, China                 1          OCM8X
-------------------------------------------------------------------------------------------------------------------
DIS, MSCN, CLR, 21, D, D1626HT, US                               1          OCM8X
-------------------------------------------------------------------------------------------------------------------
KIT, SPKR, MM, HRMNK                                             1          OCM8X
-------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       30
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
<S>                                                              <C>        <C>
Module, Compact Disk Drive, Compact Disk Rewritable,             1          OCM8X
Dual
-------------------------------------------------------------------------------------------------------------------
Module, Hard Drive, 13.6GB, Klinger                              1          OCM8X
-------------------------------------------------------------------------------------------------------------------
PCI DBD Decoder Card for DVD ROM, factory install                1          OCM8X
-------------------------------------------------------------------------------------------------------------------
SelecCare, Initial year, next business day on site               1          OCM8X
service contract, BSC
-------------------------------------------------------------------------------------------------------------------
SelectCare, 2 years extended, next business day on               1          OCM8X
site service contract, BSC
-------------------------------------------------------------------------------------------------------------------
SVT #0FW3J/Refurbished                                                      9686
-------------------------------------------------------------------------------------------------------------------
Dell PowerEdge 2300 Base.Pill. 450MHz Processor with             1          9686
512K Cache
-------------------------------------------------------------------------------------------------------------------
Logitec System Mouse w/ Driver Disks, Factory Install            1          9686
-------------------------------------------------------------------------------------------------------------------
Uninterruptable Power Supply, 700V, Stand Alone,                 1          9686
Adapter Factory Install
-------------------------------------------------------------------------------------------------------------------
Keyboard, Factory Install                                        1          9686
-------------------------------------------------------------------------------------------------------------------
2X3 Passive Backplane for Dell PowerEdge 2300,                   1          9686
Factory Install
-------------------------------------------------------------------------------------------------------------------
512MB DRAM, 1 X 512MB DIMM, Factory Install                      1          9686
-------------------------------------------------------------------------------------------------------------------
Dell PowerEdge 1300/2300/4300/4350, 450 MHz/512K, P3,            1          9686
Second Processor, Factory Install
-------------------------------------------------------------------------------------------------------------------
14/32X SCSI CD-ROM, for Dell PowerEdge 2300, Black,              1          9686
Factory Install
-------------------------------------------------------------------------------------------------------------------
Monitor Option-None                                              1          9686
-------------------------------------------------------------------------------------------------------------------
RAID 0 Hard Drive Config, for Dell PowerEdge 2300,               1          9686
Factory Install
-------------------------------------------------------------------------------------------------------------------
1.44MB Floppy Drive for Dell PowerEdge 2300, Factory             1          9686
Install
-------------------------------------------------------------------------------------------------------------------
20/40GB DLT4000 Tape Backup for Dell PowerEdge 2300,             1          9686
Black, Factory Install
-------------------------------------------------------------------------------------------------------------------
9.1GB LVD SCSI Hard Drive for Dell PowerEdge 2300,               5          9686
Server, Factory Install
-------------------------------------------------------------------------------------------------------------------
PERC2 Four Channel RAID Card, 32MB Cache, One Channel            1          9686
to the Backplane, for Dell PowerEdge 2300, Factory
Install
-------------------------------------------------------------------------------------------------------------------
READYWARE INSTALLATION FEE                                       1          9686
-------------------------------------------------------------------------------------------------------------------
No Operating System, Contains Utility Partition                  1          9686
-------------------------------------------------------------------------------------------------------------------
Intel Pro 100 Plus Ethernet Network Card, Factory                1          9686
Install
-------------------------------------------------------------------------------------------------------------------
*SelectCare, Next Business Day On-Site Service,                  1          9686
Initial Year, Wang
-------------------------------------------------------------------------------------------------------------------
*SelectCare, Next Business Day On-Site Service, 2                1          9686
Year Extended, Wang
-------------------------------------------------------------------------------------------------------------------
Power Supply, 460W,5.OV,PV2XXS                                   1          9686
-------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       31
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
<S>                                                              <C>        <C>
Customer Kit, Documentation, Airborne                            1          9686
-------------------------------------------------------------------------------------------------------------------
Fast EtherLink XL10/100TX PCI Cat 5 UTP NIC 3C905B-TX            1          9686
-------------------------------------------------------------------------------------------------------------------
12/24GB DDS-3 Seagate Tape Back Up, Customer Install             1          9686
-------------------------------------------------------------------------------------------------------------------
12/24GB DDS-3 DAT Tape Cartridge, Formatted,                     1          9686
Quantity=5, Customer Install
-------------------------------------------------------------------------------------------------------------------
PERC2 Four Channel RAID Card, 128MB Cache, No Cables             1          9686
Included for Dell PowerEdge 2300/4300/6300, Customer
Install
-------------------------------------------------------------------------------------------------------------------
CPQ Proliant 1850/500 128MB EA                                   1          327627002
-------------------------------------------------------------------------------------------------------------------
CPQ Proliant 128MB SDRAM DIMM EA                                 1          327627002
-------------------------------------------------------------------------------------------------------------------
CPQ 256MB REGISTERED SDRAM DIM EA                                1          327627002
-------------------------------------------------------------------------------------------------------------------
CPQ 9.1GB PLUG W/ULTRA2 SCSI 1 EA                                2          327627002
-------------------------------------------------------------------------------------------------------------------
CPQ NETELLIGENT 10/100 TX PCI EA                                 1          327627002
-------------------------------------------------------------------------------------------------------------------
CPQ 12/24GB DDS3 DAT OPAL EA                                     1          327627002
-------------------------------------------------------------------------------------------------------------------
CPQ 7/600 PROCESSOR OPTION KIT EA                                1          327627002
-------------------------------------------------------------------------------------------------------------------
APC SMART UPS 1400 NET EA                                        1          327627002
-------------------------------------------------------------------------------------------------------------------
MS W2000 SRVR 5 CAL EA                                           1          327627002
-------------------------------------------------------------------------------------------------------------------
Compaq/15" LDC Rack Mount Monitor                                1          327627002
-------------------------------------------------------------------------------------------------------------------
HP 6355 Celeron 330MHz, 128K RAM, 15" monitor, mount             1          6355d7306
and keyboard
-------------------------------------------------------------------------------------------------------------------
Sony VAIO Intel 300MHz, 128K RAM, 15" Monitor and                1          2629392
keyboard
-------------------------------------------------------------------------------------------------------------------
CPQ Proliant 300/600 128MB EA                                    1          d006ddl1k027
-------------------------------------------------------------------------------------------------------------------
CPQ Proliant 128MB SDRAM DIMM EA                                 1          d006ddl1k027
-------------------------------------------------------------------------------------------------------------------
CPQ 256MB REGISTERED SDRAM DIM EA                                1          d006ddl1k027
-------------------------------------------------------------------------------------------------------------------
CPQ 9.1GB PLUG W/ULTRA2 SCSI 1 EA                                4          d006ddl1k027
-------------------------------------------------------------------------------------------------------------------
CPQ NETELLIGENT 10/100 TX PCI EA                                 1          d006ddl1k027
-------------------------------------------------------------------------------------------------------------------
CPQ 12/24GB DDS3 DAT OPAL EA                                     1          d006ddl1k027
-------------------------------------------------------------------------------------------------------------------
CPQ 7/600 PROCESSOR OPTION KIT EA                                2          d006ddl1k027
-------------------------------------------------------------------------------------------------------------------
APC SMART UPS 1400 NET EA                                        1          d006ddl1k027
-------------------------------------------------------------------------------------------------------------------
MS W2000 SRVR 5 CAL EA                                           1          d006ddl1k027
-------------------------------------------------------------------------------------------------------------------
HP Scanjet 4100c                                                 1          MY87M531SG
-------------------------------------------------------------------------------------------------------------------
HP Deskjet 697                                                   1          c4562c
-------------------------------------------------------------------------------------------------------------------
HP Laserjet 6P                                                   2          uscc009060/uscc009044
-------------------------------------------------------------------------------------------------------------------
Dell 21"Monitor                                                  2          55347ao34P19/53347BO63W19
-------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       32
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
<S>                                                              <C>        <C>
Dell 19"Monitor                                                  2          86385/coh48
-------------------------------------------------------------------------------------------------------------------
Dell Dimension XPT 500                                           1          OFw3j
-------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       33
<PAGE>

                                   SCHEDULE B

                             ENUMERATED LIABILITIES

Aged Payables Listing                            As of May 23, 2000

Vendor List                                           Amount
-----------                                        -------------
ADT Security System                                $       98.42

Cheffy Passidomo Wilson & Co.                      $      600.00

CSC The US Corporation                             $      185.00

Durocher Dixson Werba, LLC                         $    1,754.90

Michael Baybak                                     $    3,500.00

Nanologic                                          $    6,000.00

Naples Printing                                    $      379.48

Olde Monmouth Stock Transfer                       $      265.00

Pitney Bowes                                       $      312.75

Total Bank                                         $    1,399.85

WGUF                                               $    1,939.96
                                                   -------------
Total Aged Payable Listing                         $   16,435.36
                                                   =============

                                       34
<PAGE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
Name of                         Type of                      Amount of
Supplier                        Service                      Settlement        Status
--------------------------------------------------------------------------------------------------------
<S>                             <C>                          <C>               <C>
Data Sales                      Computer Hardware Lease      $ 20,000.00       Release Received

Compaq Financial                Computer Software Lease      $  3,500.00

The Impact Group                Co-Location                  $  4,417.00       Release Received

Tell Commercial  Development    Office Space Rental          $  1,962.00       Release Received

Sprint                          Data Line                    $    750.00

Accuweather                     Content                      $  4,304.00       Waiting for confirmation.

Michael D. Harris, P.A.         Legal                        $ 12,000.00

Sweeney & Gates                 Accounting                   $ 10,000.00

Ernest Sittenfeld               Promissory Note              $ 10,000.00

Pitney Bowes                    PhotoCopier                  $  2,400.00
--------------------------------------------------------------------------------------------------------
                                                             $(69,333.00)
                                                            =============
</TABLE>

                                       35
<PAGE>

Aged Receivables               As of Fax received May 23, 2000

Customer                                  Amount
--------                               ------------
Biogenetics                            $     275.00

BJ Haas Inc                            $   1,250.00

Consel Inc. of Florida                 $      20.00

Coastline Shutter Corporation          $     240.00

First Baptist Church                   $     (66.00)

Martha J. Dodd                         $     250.00

Padulo International                   $     150.00

Smart Golf                             $     355.00

Stefan Hafner                          $     500.00
                                       ------------
Total Aged Receivables                 $   2,974.00
                                       ============

                                       36
<PAGE>

                                   SCHEDULE C

Reissue To:                    Number of Shares in Seller:

K2 Ventures, Inc.                      11,235,700
Paulo Mylla                               171,900
Brian Leith                                50,600
Ernest Sittenfield                          4,000
Kevin Casey                                 2,000
Sharon Snew                                   600
Stephanie Pera                                200
-------------------------------------------------
Total Shares                           11,465,000

                                       37
<PAGE>

                                   SCHEDULE D

Aged Receivables             As of Fax received May 23, 2000

Customer                                  Amount
--------                               ------------
Biogenetics                            $     275.00

BJ Haas Inc                            $   1,250.00

Consel Inc. of Florida                 $      20.00

Coastline Shutter Corporation          $     240.00

First Baptist Church                   $     (66.00)

Martha J. Dodd                         $     250.00

Padulo International                   $     150.00

Smart Golf                             $     355.00

Stefan Hafner                          $     500.00
                                       ------------
Total Aged Receivables                 $   2,974.00
                                       ============

                                       38

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}]]