Document:

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Translated from Hebrew
                                    Contract

  Drawn up and signed in Tel Aviv on the 18th day in the month of August, 2000

                                     Between
            Koor Underwriters and Issuers Ltd. (hereinafter - "KOOR")
              From 19 Rothschild Blvd., Tel Aviv, on the one hand;
                                   And Between
               Constellation 3D Inc. (hereinafter - the "COMPANY")
                         c/o Mr. Leonardo Barzosky - CFO
                          Mr. Ronen Yaffe - Deputy CFO,
                               On the other hand;

WHEREAS:
1.       KOOR engages, among other things, directly and/or through allied
         companies, in locating investors, administrating and concentrating
         capital raisings by way of - Private allocation and/or setting up loans
         and/or credit and/or recruiting partners and/or by any other method
         (hereinafter - "CAPITAL RAISING");

2.       The COMPANY, a start-up company whose shares are traded on the NAADAQ
         (OTC-BB), desires CAPITAL RAISING against private allocation of the
         COMPANY's securities, and wishes to be aided by KOOR's services for the
         purpose of locating investors;

3.       This contract is a revision the contract signed on the 27th of June.

Therefore, it is agreed and stipulated between the parties as follows:

1.       The COMPANY hereby rents KOOR's services, and KOOR undertakes to
         provide services to the COMPANY, on the basis of "Best Efforts", in

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         locating investors for the company as a share capital ("Equities")
         and/or as a bank or other authority loan within 60 days from the day of
         signing this contract.

2.       KOOR's services include locating and integration of investors group
         and/or banks setting up credit, aid in determining of private
         allocation term and aid (including by means of any third party on its
         behalf) in receiving information and preparing juridical and other
         documentation, as well as all required for allocation and raising of
         the capital and loan.

3.       It is hereby agreed and clarified, that the investors located by KOOR
         are:
         a. Private and/or institutional bodies, form Israel and Europe,
         including the bodies connected with KOOR.
         b. Commercial banks in Israel for the purpose of giving loans and/or
         credit.
         c. Private and/or institutional bodies in the USA that will be located
         together with the American Investment Bank (on our behalf or on behalf
         of others).

4.       It is agreed and clarified that the COMPANY has the right to decline
         investor/s, and this only on the condition that the company shall
         establish that there are reasonable arguments for declining the
         investors, thus detected.

5.       The contract period is for the duration of 60 days. The contract period
         may be extended with the parties' consent, in writing and in advance.

6.       The COMPANY undertakes during the contract period not to contact with
         any other entity, including private and/or institutional and/or banks,
         for capital raising during the contract period in Israel, other than
         those KOOR, and the COMPANY gives the undertaking, that if KOOR
         succeeds in raising during the contract term the amount of up to 6
         million dollars in accordance with the conditions agreed, upon the
         COMPANY will be obligated to receive the investment subject to the
         conditions of the par. 4 above.

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7.       If, due to KOOR's efforts a contract is concluded for the purpose of
         capital raising among the investors or part of them and the COMPANY,
         during the contract term and/or till the completion of 24 month period
         from the completion of contract term, KOOR shall have the right to the
         following consideration:
         a. For equity raised in Israel - 4% of capital raising amount in
         equity. In addition 1,5 option warrants for each share, whereby the
         conditions attaching to the option warrants will be identical to
         investors' conditions.
         b. For obtaining a bank credit line - 1% of the confirmed credit line
         amount and 100,000 option warrants for each credit line - 1 m. $.
         c. For equity raised in the USA - 2% of capital raising amount in
         equity and 20,000 option warrants for each one raised - 1m. $. The
         conditions of option warrants will be identical to investors'
         conditions.

8.       In addition to the payment stated in the above sub-paragraph 7, KOOR
         has the right (whether the contract will be connected to capital
         raising or not) to recover the expenses which it will spend directly,
         including legal expenses and sums paid to third parties concerning
         capital raising, for the amount in NIS which shall not exceed 25,000
         American dollars, as well as recovering special expenses as will be
         agreed upon between the COMPANY and KOOR, as the matter may be
         (including expenses on trips to investors' meetings, etc.).

9.       The COMPANY, the directors and business and office holders undertake to
         cooperate with KOOR as part of negotiations and contacts with the
         investors for entering into the capital raising contract, by
         introducing the COMPANY to investors, holding meetings with investors,
         introducing material and documentation concerning the COMPANY and also
         in any other way to be agreed upon by the COMPANY and KOOR.

10.      The COMPANY shall inform and report to KOOR on accurate basis about all
         its contacts with bodies or people connected with capital raising,
         which take place during the contract period and within 12 months after

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         the termination of contract period. The COMPANY will naturally also
         report and inform KOOR about progress of negotiations with the bodies
         indicated in par. 7.

11.      The COMPANY agrees, that KOOR will advertise a "Tombstone" announcement
         if capital raising is successful.

12.      KOOR will have the right to offer to invest in the company as part of
         capital raising or location of business partner. The sums KOOR will
         invest will be taken into account for the purpose of calculating
         consideration it is entitled to.

13.      To avoid any doubt it is clarified that:
         13.1 KOOR's obligation is to provide services on a "best efforts"
         basis, and the COMPANY has not and will not present any claim against
         KOOR in the case the capital raising has not been completed, during the
         contract period or in general.
         13.2 The COMPANY will compensate KOOR for each judgement that will be
         entered against it and whose cause is representations, made to
         investors in relation with the COMPANY, by KOOR, and which were made
         available to KOOR by the COMPANY, provided that if KOOR informed the
         COMPANY on each claim and/or demand against it as stated, immediately
         after it came to its notice, and made it possible for the COMPANY to
         appoint an advocate on its behalf and to conduct the defense in the
         said action.
         13.3 COMPANY's is obliged to pay the consideration to KOOR, as detailed
         in par. 7 above, in case a capital raising contract is concluded
         between the COMPANY and investors introduced to the COMPANY by KOOR,
         and all this within the period specified in par. 7 above.

         In witness whereof the parts have hereunto set their hands:

                                                   /s/ Leonardo Berezowsky
/s/ Kobi Zecharia                                  /s/ Ronen Yaffe
-------------------------------------              ----------------------------
  Koor Underwriters and Issues Ltd.                    Constellation 3D Inc.

                                      -4-<PAGE>

THE CONVERTIBLE NOTE REPRESENTED HEREBY HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS, AND
THIS CONVERTIBLE NOTE MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF IN
THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SAID ACT AND
SUCH LAWS AND THE RESPECTIVE RULES AND REGULATIONS THEREUNDER.

                             Constellation 3D, Inc.

                                Convertible Note
                               Due August 28, 2001

$1,000,000                                                       August 28, 2000

FOR VALUE RECEIVED, the undersigned, Constellation 3D, Inc., a corporation
organized and existing under the laws of the State of Florida (herein called the
"Company"), hereby promises to pay to Constellation 3D Technology Ltd., a
company organized under the laws of British Virgin Islands, or registered
assigns (the "Investor"), the principal sum of ONE MILLION DOLLARS ($1,000,000)
(such sum, together with interest capitalized pursuant to the following
sentence, the "Principal") on August 28, 2001. Interest on the unpaid Principal
balance at the rate of THREE-MONTH LIBOR plus 3% shall be added in arrears to
the Principal. Interest hereunder shall be payable in semi-annual installments
on February 28, 2001, and August 28, 2001 together with all outstanding
Principal, unless this Note is converted before such date as provided in that
certain Loan Agreement, dated as of August 22, 2000 (the "Agreement") by and
between the Company and the Investor.

Payments of both Principal and interest are to be made at the address shown on
the Company's registry or at such other place as the holder hereof shall
designate to the Company in writing, in lawful money of the United States of
America as at the time of payment shall be legal tender for the payment of
public and private debts.

This Note may be prepaid in whole or in part at any time or from time to time
without premium or penalty on the terms and conditions set forth in Section 1
(d) of the Agreement.

This Convertible Note is issued pursuant to the Agreement by and between the
Company and the Investor and is entitled to the benefits of the Agreement.

This Convertible Note is a registered Convertible Note and upon surrender of
this Convertible Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the registered
holder hereof or his attorney duly authorized in writing, a new Convertible Note
for a like principal amount will be issued to, and registered in the name of,
the transferee. Prior to due presentment for registration of transfer, the
Company may treat the person in whose name this Convertible Note is registered
as the owner hereof for the purpose of receiving payment and for all other
purposes, and the Company shall not be affected by any notice to the contrary.

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The Company agrees to pay, and save the holder hereof harmless against any
liability for, any expenses, including reasonable attorney's fees, arising in
connection with the enforcement by the holder hereof of any of its rights under
this Convertible Note or the Agreement.

Payment of the Principal, premium (if any) and interest in respect of this
Convertible Note are subordinate, to all principal of and interest on "Senior
Debt."

"Senior Debt" shall mean all obligations (whether now outstanding or hereafter
incurred) for the payment of which the Company is responsible or liable as
obligor, guarantor or otherwise in respect of the principal, premium (if any),
and unpaid interest on and all other amounts due with respect to Indebtedness
incurred by the Company so long as such Indebtedness is not subordinated to any
other Indebtedness of the Company and the terms of which do not restrict this
Company's ability to pay any and all amounts due under this Convertible Note.
The following shall not constitute Senior Debt: (a) Indebtedness evidenced by
this Convertible Note or any extension or refunding thereof, (b) Indebtedness
which is expressly made equal in right of payment with this Convertible Note or
subordinate and subject in right of Payment to this Convertible Note or (c)
Indebtedness which purports to be senior to subordinated debt, including this
Convertible Note, but subordinate to the Indebtedness described in the first
sentence of this paragraph.

This Convertible Note is convertible into shares of Common Stock in the terms
and conditions set forth in Section 1 (e) of the Agreement.

This Convertible Note is intended to be performed in the state of New York, and
shall be construed and enforced in accordance with the law of such State,
without giving effect to the conflicts or choice of law principles of such
State.

Constellation 3D, Inc.

By:      /s/ Eugene Levich
         ---------------------------------------
         Eugene Levich
         President and Chief Executive Officer

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