Document:

CONSULTING AGREEMENT

      This Consulting Agreement ("Agreement") is to be effective as of May 15,
2006, by and between American Racing Capital, Inc., a Nevada corporation
("Company"), and Earl Ingerfield ("Consultant").

      For the purposes of this Agreement, either of the above shall be referred
to as a "Party" and collectively as the "Parties".

      The Parties hereby agree as follows:

      1. Appointment. The Company hereby appoints the Consultant and the
Consultant hereby agrees to render services to the Company.

      2. Services. During the term of this Agreement, the Consultant shall
provide advice to, undertake for, and consult with the Company on certain
matters pertaining to the Company's business as shall be specified from time to
time by the Company's President and/or such other officer(s) as the Company's
Board of Directors shall designate to have principal responsibility for the
operation of the business. Such matters shall include advice with respect to the
Company's operations, executive employment issues, employee staffing, strategy,
capital structure and other matters pertaining to the business as shall be
specified from time to time by the Company's President and/or such other
officer.

      3. Term. The Term ("Term") of this Consulting Agreement shall be for a
period of 18 months commencing on the date hereof.

      4. Compensation. For the services rendered and performed by the Consultant
during the terms of this Agreement, the Company shall pay to the Consultant in
total, ten percent (10%) of any funds received by the Company in connection with
financing any project that directly or indirectly is involved with American
Racing Capital (ANRC).

      5. Confidentiality. Consultant will not disclose to any other person, firm
or corporation, nor use for its own benefit, during or after the Term of this
Consulting Agreement, any trade secrets or other information designated as
confidential by Company which is acquired by Consultant in the course of
performing services hereunder. Any financial advice rendered by Consultant
pursuant to this Consulting Agreement may not be disclosed in any manner without
the prior written approval of Company.

      6. Indemnification.

            (a) Consultant, to the fullest extent permitted by law, agrees to
defend, to hold harmless and to indemnify Company against all claims, losses,
liability, damages and expenses directly caused by or directly resulting from
the Services performed by Consultant hereunder. It is understood that the intent
of this provision is to absolve and protect Company from any loss, liability,
damage and expense directly caused by or connected with the work and/or actions
of Consultant hereunder without fault of Company.

<PAGE>

            (b) Company to the fullest extent permitted by law, agrees to
defend, to hold harmless and to indemnify Consultant against all claims, losses,
liability, damages and expenses directly caused by or directly resulting from
the Services performed by Company hereunder. It is understood that the intent of
this provision is to absolve and protect Consultant from any loss, liability,
damage and expense directly caused by the actions of Company hereunder with our
fault on Consultant.

      7. Independent Contractor. Consultant and Company hereby acknowledge that
Consultant is an independent contractor. Consultant shall not hold itself out
as, nor shall it take any action from which others might infer that it is an
agent of or a joint venture of Company. All taxes and other expenses are also
responsibility of Consultant.

      8. Miscellaneous. This Consulting Agreement sets forth the entire
understanding of the Parties relating to the subject matter hereof, and
supersedes and cancels any prior communications, understandings and agreements
between the Parties. This Consulting Agreement is non-exclusive and cannot be
modified or changed, nor can any of its provisions be waived, except by written
agreement signed by all Parties. This Consulting Agreement shall be governed by
the laws of the State of Florida without reference to the conflict of law
principles thereof. In the event of any dispute as to the Terms of this
Consulting Agreement, the prevailing Party in any litigation shall be entitled
to reasonable attorney's fees.

      9. Notices. Any notice required or permitted hereunder shall be given in
writing (unless otherwise specified herein) and shall be deemed effectively
given upon personal delivery or seven business days after deposit in the United
States Postal Service, by (a) advance copy by fax, (b) mailing by express
courier or registered or certified mail with postage and fees prepaid, addressed
to each of the other Parties thereunto entitled at the following addresses, or
at such other addresses as a Party may designate by ten days advance written
notice to each of the other Parties at the addresses above and to the attention
of the persons that have signed below.

      10. Counterparts. A facsimile, telecopy, or other reproduction of this
Agreement may be execute simultaneously in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument. The executed copy of this Agreement shall be valid
and binding upon a party when transmitted by facsimile to the other party. At
the request of any party hereto, all parties agree to execute an original of
this Agreement, as well as, any facsimile, telecopy or other reproduction
hereof.

      IN WITNESS WHEREOF, the parties have executed this Agreement on the date
above written.

                                            American Racing Capital, Inc.

By:      /s/ Earl Ingarfield                By:      /s/ A. Robert Koveleski
         -------------------                         -----------------------
         Consultant                                  Secretary ARCAGREEMENT

      THIS AGREEMENT, dated as of July 24, 2006 (the "Agreement"), by and
between AMERICAN RACING CAPITAL, a Nevada corporation (the "Company") and LJ&J
ENTERPRISES OF TENNESSEE, INC., a Tennessee corporation ("LJ&J") (each a
"Party", and collectively the "Parties").

      WHEREAS, reference is made to that certain Letter of Intent, dated January
11, 2006, (the "Letter of Intent"), by and between ARC Development Corporation
("ARCD") and LJ&J Enterprises of PA, Inc. (the "LJ&J PA"), whereby certain
proposed transactions are set forth in Section 1 of the Letter of Intent;

      WHEREAS, the Parties intent to move forward with the acquisition of the
controlling ownership interest in LJ&J, as set forth in the Letter of Intent, by
either the Company, or any of the Company's subsidiaries or affiliates,
including ARC Development Corporation, a Nevada corporation, and Motorsports &
Entertainment of Tennessee, Inc., a Nevada corporation (the "Transaction");

      WHEREAS, the Parties hereby agree and acknowledge that the Company, in
contemplation of the Transaction, shall deliver to LJ&J an amount deemed to be a
partial payment of the total purchase price of Seven Hundred Thousand Dollars
($700,000) (the "LJ&J Purchase Price"), of the ownership interests in LJ&J, as
set forth in Section 1 of the Letter of Intent; and

      WHEREAS, the Parties desire to enter into definitive documents
memorializing the terms and conditions of the Transaction (the "Definitive
Documents"), as soon as practicable after the execution of this Agreement.

      NOW, THEREFORE, for and in consideration of the mutual and reciprocal
covenants and agreements hereinafter contained and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto, intending to be legally bound, hereby agree as follows:

      1. Recitals. The recitals set forth above are true and are hereby
incorporated by this reference.

      2. Partial Payment. In contemplation to the Transaction, the Parties
hereby acknowledge that the Company shall transfer and deliver to LJ&J an amount
of Two Hundred Thousand Dollars ($200,000) (the "Partial Payment") as partial
payment of the LJ&J Purchase Price. LJ&J hereby acknowledges and agrees that the
Parties agreed to recognize the Partial Payment against the LJ&J Purchase Price
and that the Partial Payment shall be applied solely against the LJ&J Purchase
Price and not against any other proposed transactions contemplated in the Letter
of Intent.

<PAGE>

      3. Definitive Documents. The Parties, or any of their subsidiaries and
affiliates, shall enter into Definitive Documents as soon as practicable after
the execution of this Agreement, and shall take all reasonable steps to finalize
the Transaction as memorialized in the Definitive Documents. The Definitive
Documents will contain the definitive terms and conditions to which the
Transaction would be subject, and conditions, representations, warranties,
covenants, and indemnities of the parties that are reasonable and customary for
transactions of the type. Consummation of the Transaction contemplated hereby is
expressly subject to due diligence (the general scope of which has been
discussed by the parties), the approval of the Transaction by the board of
directors of LJ&J, the Company, or the Company's subsidiary or affiliate which
shall be a party to the Definitive Documents, and the execution of Definitive
Documents in form and substance acceptable to the parties and their respective
counsel.

      4. Closing. The Parties shall close the Transaction (the "Closing") on or
before September 1, 2006, or 10 days after the filing of an SB-2 by ARC
Development Corporation, which ever shall occur first, unless extended by mutual
written agreement of the Parties (the "Closing Date").

      5. Return of Funds. In the event the Closing shall not occur by the
Closing Date, through no fault of ARC Development Corporation, LJ&J shall be
entitled to retain said $200,000 as a non-refundable fee. In the event that
Closing shall not occur by the Closing date, through the fault of LJ&J, LJ&J
shall return the $200,000 Partial Payment within five (5) business days after
receiving written notice from the Company requesting the return of the Partial
Payment.

      6. Remedy. Upon the occurrence of an event of default under this
Agreement, the Company shall pursue any and all legal and equitable remedies
available to it.

      7. Benefits; Binding Effect. This Agreement shall inure to the benefit of,
and shall be binding upon, the parties hereto and their respective successors
and assigns.

      8. Entire Agreement. This Agreement contains the entire understanding of
the parties with respect to its subject matter, and supersedes any prior
discussions, negotiations, representations, or understandings between the
parties related to its subject matter that are not fully expressed herein.

      9. Modification or Amendment. No amendment, change or modification of this
Agreement shall be valid unless it is in writing, signed by each of the parties
or by its respective successors and/or assigns.

      10. Governing Law. This Agreement shall be governed by, and shall be
construed and interpreted in accordance with, the laws of the State of Nevada.

      11. Warranty of Capacity to Execute Agreement. The parties to this
Agreement represent and warrant that they have the sole right and exclusive
authority to execute this Agreement, and the employee or representative signing
on its behalf below, has been granted the power to execute this Agreement on its
behalf.

      12. Counterparts. This Agreement may be executed in one or more
counterparts, and by the different parties hereto in separate counterparts, each
of which when executed shall be deemed to be an original but all of which taken
together shall constitute one and the same instrument.

                                      -2-
<PAGE>

      IN WITNESS WHEREOF, the parties hereto, through their duly authorized
representatives, have executed this instrument as of the day and year first
written above.

AMERICAN RACING CAPITAL, a Nevada         LJ&J ENTERPRISES OF TENNESSEE, INC.,
corporation                               a Tennessee corporation

By: /s/ A. Robert Koveleski               By: /s/ J.R. Mattiolli, III

Printed Name:  A. Robert Koveleski        Printed Name: J.R. Mattiolli, III

Title: Secretary                          Title:   President
Date: July 24, 2006                       Date: July 24, 2006

                                      -3-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]