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                                                                     EXHIBIT 4.2

                          INVESTMENT BANKING AGREEMENT

This Agreement is made as of this day, 22nd Day of June 2000, by and between
Universal Automotive Industries, Inc., having its business office at 3350 North
Kedzie, Chicago, Illinois 60618 (the "Company") and EBI Securities Corp., with
its principal office located at 6300 South Syracuse Way, Englewood, Colorado
80111 (the "Consultant").

                                   WITNESSETH

WHEREAS, the Company desires to retain the Consultant and the Consultant desires
to be retained by the Company, all pursuant to the terms and conditions
hereinafter set forth;

NOW THEREFORE, in consideration of the foregoing and the mutual promises and
covenants herein contained, it is agreed as follows:

1.       Retention - The Company hereby retains the Consultant to perform
         non-exclusive consulting services related to corporate finance and
         other matters, and the Consultant hereby accepts such retention and
         shall perform for the Company and the duties described herein,
         faithfully and to the best of its ability. In this regard, subject to
         paragraph 7 hereof, the Consultant shall devote such time and attention
         to the business of the Company, as shall be determined by the
         Consultant, subject to the direction of the President or Chief
         Executive Officer of the Company.

         (a)      The Consultant agrees, to the extent reasonably required in
                  the conduct of the business of the Company, and at the
                  Company's request, to place at the disposal of the Company its
                  judgment and experience and to provide business development
                  services to the Company including the following:

                  (i)      Review business plans and projections.
                  (ii)     Review financial data as it relates to financing.
                  (iii)    Advise on the Company's capital structure and on
                           alternatives for raising capital.
                  (iv)     Review and advise on prospective mergers and
                           acquisitions, and on any financing required to
                           complete such transactions.
                  (v)      Advise on issues relating to public offerings.
                  (vi)     Provide fairness opinions.
                  (vii)    Review managerial needs.
                  (viii)   Advise on issues relating to public relations.
                  (ix)     Review feasibility of Online advertising for business
                           transactions.

2.       Term - The Consultant's retention hereunder shall be for a term of
         twelve months commencing on the date of this Agreement and may be
         extended for another term of one year upon written consent of the
         parties.

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3.       Compensation - The Consultant shall be compensated in accordance with
         the following schedule:

         (a)      The Company shall pay to the Consultant $5,000 per month paid
                  quarterly in advance. The first installment is payable upon
                  the signing of this Agreement. An initial, one time fee of
                  $25,000 is also to be paid to the Consultant by the Company
                  upon the signing of this Agreement. The Company agrees that
                  separate fees shall be applicable for services provided in
                  1.(a)(vi) and (b) above. Any such fees will be subject to the
                  Consultant's customary terms and the prior written agreement
                  of the Company.

         (b)      The Company shall grant the Consultant a warrant (the
                  "Warrant") to purchase 100,000 shares of the common stock of
                  the Company exercisable not less than twelve (12) months from
                  the date of this Agreement for a period of forth-eight (48)
                  months thereafter at $2.75 per share. The Company shall grant
                  to the Consultant a Warrant under the same terms and
                  conditions as (b) at $2.50 per share to purchase 100,000
                  shares.

         The Warrant, shall possess anti-dilution provisions for stock
         dividends, splits, mergers, sale of substantially all of the Company's
         assets, sale of stock at below the then current exercise price of the
         Consultant's Warrant and for the other events (other than employee
         benefit and stock option plans for the employees and advisors of the
         Company and other than for all existing warrants or stock options).

         The Company also agrees, to grant to the Consultant, subject to the
         conditions listed below, the right to demand registrations of the
         Common Stock issuable upon exercise of the Warrant referred to above,
         on up to two (2) occasions with all expenses of the first registration
         to be borne by the Company and all expenses of the second registration
         to be borne by the Consultant; provided, however, that such demand
         registration rights shall be exercisable after twelve (12) months from
         the date of the Agreement. If the Common Stock trades at a 100% premium
         to the strike price of the initial 100,000 warrants for 15 consecutive
         trading days, then the warrants are immediately registerable.

         The Company will, subject to the conditions listed below, to the extent
         necessary to permit the sale of such shares, grant "piggy back"
         registration rights to include the shares of the Common Stock issuable
         upon exercise of the Warrant in any registration statement filed by the
         Company under the Securities Act of 1933 relating to any underwriting
         of the sale of Common Stock or other security. Inclusion of such shares
         is subject to the willingness of the managing underwriter(s) to include
         said shares of Common Stock. In the event that the Company after the
         date hereof grants registration rights to any other shareholder on
         terms and conditions the Consultant deems to be more favorable than
         these granted hereunder, the Company agrees to grant the same rights to
         the Consultant.

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4.       Expenses - The Company agrees to reimburse the Consultant for
         reasonable expenses incurred by the Consultant in connection with the
         services rendered hereunder, including but not limited to the
         Consultant's due diligence activities with respect to the Company. Any
         such expenses shall require the prior written approval of the Company.

5.       Indemnification - Since the Consultant will be acting on behalf of the
         Company in connection with its engagement hereunder, the Company and
         Consultant have entered into a separate indemnification agreement
         substantially in the form attached hereto as Exhibit A and dated the
         date hereof, providing for the indemnification of Consultant by the
         Company. The Consultant has entered into this Agreement in reliance on
         the indemnification set forth in such indemnification agreement.

6.       Status of Consultant - The Consultant shall be deemed to be an
         independent contractor and, except as expressly provided or authorized
         in this Agreement, shall have no authority to act for or represent the
         Company.

7.       Other Activities of Consultant - The Company recognizes that the
         Consultant now rendered and may continue to render financial consulting
         and other investment banking services to other companies, which may or
         may not conduct business and activities similar to those of the
         Company. The Consultant shall not conduct business and activities
         similar to those of the Company. The Consultant shall not be required
         to devote its full time and attention to the performance of its duties
         under this Agreement, but shall devote only so much of its time and
         attention as it deems reasonable or necessary for such purposes. The
         Consultant shall give written notice to the Company upon acceptance of
         any investment banking agreement with other companies in similar
         industries and businesses. The Consultant agrees to maintain as
         confidential any information it procures in rendering consulting
         services hereunder regarding the Company that is not generally known to
         the public, and agrees to not transmit any of such information to: (i)
         any employees of Consultant engaged in the trading of the Company's
         securities; or (ii) any competitors of the Company for whom Consultant
         performs consulting services. Consultant agrees that for so long as it
         provides services under this Agreement or owns warrants or common stock
         of the Company either directly or through affiliates, that neither
         Consultant nor its affiliates will sell short any of the Company
         securities, except to maintain an orderly market as a Market Maker.

8.       Control - Nothing contained herein shall be deemed to require the
         Company to take any action contrary to its Certificate of Incorporation
         or By-Laws, or any applicable statute or regulation, or to deprive its
         Board of Directors of their responsibility for any control of the
         conduct of the affairs of the Company.

9.       Notices - Any notices hereunder shall be sent to the Company and the
         Consultant at their respective addresses above set forth. Any notices
         shall be given by registered or certified mail, postage prepaid, or
         overnight receipted delivery service (such as Federal Express) and
         shall be deemed to have been given when deposited in the United States
         mail. Either party

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         may designate any other address to which notice shall be given, by
         giving written notice to the other of such change in address in the
         manner herein provided. Copies of all notices to the Company shall
         simultaneously be sent to Shefsky and Froelich Ltd., 444 North Michigan
         Avenue, Chicago, Illinois, 60611 (Tel. 312-836-4006/Fax 312-527-3194),
         Attn: Mitchell Goldsmith.

10.      Governing Law - This Agreement has been made in the State of New York
         and shall be construed and governed in accordance with the laws thereof
         without regard to conflicts of laws.

11.      Entire Agreement - This Agreement contains the entire agreement between
         the parities, may not be altered or modified, except in writing and
         signed by the party to be charged thereby and supersedes any and all
         previous agreements between the parties.

12.      Binding Effect - This Agreement shall be binding upon the parties
         hereto and their respective heirs, administrators, successors and
         assigns.

13.      Termination - Either party may terminate this Agreement in writing for
         cause during the first six months of this Agreement. If during this
         period either party terminates the Agreement, the Consultant shall
         100,000 of the Warrants but shall retain the additional 100,000
         Warrants and any cash portions of its compensation, which it has earned
         up to the date of such termination. If either the Company or EBI
         Securities terminated the Agreement for cause at any time after the
         above six month period, EBI shall retain both Warrants and any cash
         portion of its compensation which it has earned up to the date of such
         termination.

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

UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.

By:  /s/ Arvin Scott
    ---------------------------------------------
Title:  President and Chief Executive Officer
      -------------------------------------------

EBI SECURITIES INCORPORATED

  /s/ Clifford T. Morgan
-------------------------------------------------
Clifford T. Morgan
Executive V.P. Investment Banking

                                       4<PAGE>   1

                                                                   EXHIBIT 10.17

                               PHON-NET.COM, INC.
                          600 - 750 WEST PENDER STREET
                          VANCOUVER, BC, CANADA V6C 2T7

June 2, 2000

Volt Information Sciences, Inc.
ATTN: Gerard L. DiPippo and Albert G. Franco
1221 Avenue of the Americas
New York, NY 10020
P: (212) 704-2402
F: (212) 944-1639

The contract between Phon-Net.com, Inc. (Licensor) and Volt Information
Sciences, Inc. (Licensee) dated 2nd day of December 1999 is hereby mutually
terminated without liability to either party, and all confidential, patent,
property, and trademark rights, discussed in the contract will remain protected
after termination of this agreement.

Please complete the signature portion and return two copies for signature by
PHON-NET.COM, Inc. via courier. We look forward to being of assistance in the
future as Volt's web directories expand.

(Licensor)                                      PHON-NET.COM, INC.

                                                Per: /s/ BRIAN COLLINS
                                                     -------------------------
                                                     Name: Brian Collins
                                                     Title: President and CEO

(Licensee)                                      VOLT INFORMATION SCIENCES, INC.

                                                Per: /s/ GERARD DIPIPPO
                                                     -------------------------
                                                     Name: Gerard DiPippo
                                                     Title: Vice President

Brian Collins - President
PHON-NET.COM, Inc.
P: (250) 658-0627
F: (250) 658-6072

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