Document:

EXHIBIT 10.4

                                     EGTRRA
                                AMENDMENT TO THE

              HOLLYWOOD MEDIA CORP. 401(K) RETIREMENT SAVINGS PLAN

<PAGE>

                                                                EGTRRA- EMPLOYER

                                    ARTICLE I
                                    PREAMBLE

1.1      Adoption and effective date of amendment. This amendment of the plan is
         adopted to reflect certain provisions of the Economic Growth and Tax
         Relief Reconciliation Act of 2001 ("EGTRRA"). This amendment is
         intended as good faith compliance with the requirements of EGTRRA and
         is to be construed in accordance with EGTRRA and guidance issued
         thereunder. Except as otherwise provided, this amendment shall be
         effective as of the first day of the first plan year beginning after
         December 31, 2001.

1.2      Supersession of inconsistent provisions. This amendment shall supersede
         the provisions of the plan to the extent those provisions are
         inconsistent with the provisions of this amendment.

                                   ARTICLE II
                          ADOPTION AGREEMENT ELECTIONS

================================================================================

         THE QUESTIONS IN THIS ARTICLE II ONLY NEED TO BE COMPLETED IN ORDER TO
         OVERRIDE THE DEFAULT PROVISIONS SET FORTH BELOW. IF ALL OF THE DEFAULT
         PROVISIONS WILL APPLY, THEN THESE QUESTIONS SHOULD BE SKIPPED.

         UNLESS THE EMPLOYER ELECTS OTHERWISE IN THIS ARTICLE II, THE FOLLOWING
         DEFAULTS APPLY:
         1)  THE VESTING SCHEDULE FOR MATCHING CONTRIBUTIONS WILL BE A 6 YEAR
             GRADED SCHEDULE (IF THE PLAN CURRENTLY HAS A GRADED SCHEDULE THAT
             DOES NOT SATISFY EGTRRA) OR A 3 YEAR CLIFF SCHEDULE (IF THE PLAN
             CURRENTLY HAS A CLIFF SCHEDULE THAT DOES NOT SATISFY EGTRRA), AND
             SUCH SCHEDULE WILL APPLY TO ALL MATCHING CONTRIBUTIONS (EVEN THOSE
             MADE PRIOR TO 2002).
         2)  ROLLOVERS ARE AUTOMATICALLY EXCLUDED IN DETERMINING WHETHER THE
             $5,000 THRESHOLD HAS BEEN EXCEEDED FOR AUTOMATIC CASH-OUTS (IF THE
             PLAN IS NOT SUBJECT TO THE QUALIFIED JOINT AND SURVIVOR ANNUITY
             RULES AND PROVIDES FOR AUTOMATIC CASH-OUTS). THIS IS APPLIED TO ALL
             PARTICIPANTS REGARDLESS OF WHEN THE DISTRIBUTABLE EVENT OCCURRED.
         3)  THE SUSPENSION PERIOD AFTER A HARDSHIP DISTRIBUTION IS MADE WILL BE
             6 MONTHS AND THIS WILL ONLY APPLY TO HARDSHIP DISTRIBUTIONS MADE
             AFTER 2001.
         4)  CATCH-UP CONTRIBUTIONS WILL BE ALLOWED.
================================================================================

2.1      VESTING SCHEDULE FOR MATCHING CONTRIBUTIONS

         If there are matching contributions subject to a vesting schedule that
         does not satisfy EGTRRA, then unless otherwise elected below, for
         participants who complete an hour of service in a plan year beginning
         after December 31, 2001, the following vesting schedule will apply to
         all matching contributions subject to a vesting schedule:

         If the plan has a graded vesting schedule (i.e., the vesting schedule
         includes a vested percentage that is more than 0% and less than 100%)
         the following will apply:

               Years of vesting service           Nonforfeitable percentage

                        2                                   20%
                        3                                   40%
                        4                                   60%
                        5                                   80%
                        6                                  100%

         If the plan does not have a graded vesting schedule, then matching
         contributions will be nonforfeitable upon the completion of 3 years of
         vesting service.

         In lieu of the above vesting schedule, the employer elects the
         following schedule:
         a.         [ ] 3 year cliff (a participant's accrued benefit derived
                    from employer matching contributions shall be nonforfeitable
                    upon the participant's completion of three years of vesting
                    service).
         b.         [ ] 6 year graded schedule (20% after 2 years of vesting
                    service and an additional 20% for each year thereafter).
         c.         [ ] Other (must be at least as liberal as a. or the b.
                    above):

(c) Copyright 2001

                                       1
<PAGE>

                   Years of vesting service           Nonforfeitable percentage

                       --------                           ---------%
                       --------                           ---------%
                       --------                           ---------%
                       --------                           ---------%
                       --------                           ---------%

         The vesting schedule set forth herein shall only apply to participants
         who complete an hour of service in a plan year beginning after December
         31, 2001, and, unless the option below is elected, shall apply to ALL
         matching contributions subject to a vesting schedule.

         d. [ ] The vesting schedule will only apply to matching
                contributions made in plan years beginning after December 31,
                2001 (the prior schedule will apply to matching contributions
                made in prior plan years).

2.2      EXCLUSION OF ROLLOVERS IN APPLICATION OF INVOLUNTARY CASH-OUT
         PROVISIONS (FOR PROFIT SHARING AND 401(K) PLANS ONLY). If the plan is
         not subject to the qualified joint and survivor annuity rules and
         includes involuntary cash-out provisions, then unless one of the
         options below is elected, effective for distributions made after
         December 31, 2001, rollover contributions will be excluded in
         determining the value of the participant's nonforfeitable account
         balance for purposes of the plan's involuntary cash-out rules.

         a. [ ] Rollover contributions will not be excluded.

         b. [ ] Rollover contributions will be excluded only with
                respect to distributions made after . (Enter a date no
                earlier than December 31, 2001.)

         c. [ ] Rollover contributions will only be excluded with
                respect to participants who separated from service after _____.
                (Enter a date. The date may be earlier than December 31, 2001.)

2.3      SUSPENSION PERIOD OF HARDSHIP DISTRIBUTIONS. If the plan provides for
         hardship distributions upon satisfaction of the safe harbor (deemed)
         standards as set forth in Treas. Reg. Section 1.401(k)-1(d)(2)(iv),
         then, unless the option below is elected, the suspension period
         following a hardship distribution shall only apply to hardship
         distributions made after December 31, 2001.
            [ ] With regard to hardship distributions made during 2001, a
                participant shall be prohibited from making elective
                deferrals and employee contributions under this and all
                other plans until the later of January 1, 2002, or 6 months
                after receipt of the distribution.

2.4      CATCH-UP CONTRIBUTIONS (FOR 401(K) PROFIT SHARING PLANS ONLY): The plan
         permits catch-up contributions (Article VI) unless the option below is
         elected.
            [ ] The plan does not permit catch-up contributions to be made.

                                   ARTICLE III
                        VESTING OF MATCHING CONTRIBUTIONS

3.1      Applicability. This Article shall apply to participants who complete an
         Hour of Service after December 31, 2001, with respect to accrued
         benefits derived from employer matching contributions made in plan
         years beginning after December 31, 2001. Unless otherwise elected by
         the employer in Section 2.1 above, this Article shall also apply to all
         such participants with respect to accrued benefits derived from
         employer matching contributions made in plan years beginning prior to
         January 1, 2002.

3.2      Vesting schedule. A participant's accrued benefit derived from employer
         matching contributions shall vest as provided in Section 2.1 of this
         amendment.

                                   ARTICLE IV
                              INVOLUNTARY CASH-OUTS

4.1      Applicability and effective date. If the plan provides for involuntary
         cash-outs of amounts less than $5,000, then unless otherwise elected in
         Section 2.2 of this amendment, this Article shall apply for
         distributions made after December 31, 2001, and shall apply to all
         participants. However, regardless of the preceding, this Article shall
         not apply if the plan is subject to the qualified joint and survivor
         annuity requirements of Sections 401(a)(11) and 417 of the Code.

4.2      Rollovers disregarded in determining value of account balance for
         involuntary distributions. For purposes of the Sections of the plan
         that provide for the involuntary distribution of vested accrued
         benefits of $5,000 or less, the value of a participant's nonforfeitable
         account balance shall be determined without regard to that portion of
         the account balance that is attributable to rollover contributions (and
         earnings allocable thereto) within the meaning of Sections 402(c),
         403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), and 457(e)(16) of the Code. If
         the value of the participant's nonforfeitable account balance as so
         determined is $5,000 or less, then the plan shall immediately
         distribute the participant's entire nonforfeitable account balance.

                                                              (c) Copyright 2001

                                       2
<PAGE>

                                    ARTICLE V
                             HARDSHIP DISTRIBUTIONS

5.1      Applicability and effective date. If the plan provides for hardship
         distributions upon satisfaction of the safe harbor (deemed) standards
         as set forth in Treas. Reg. Section 1.401(k)-1(d)(2)(iv), then this
         Article shall apply for calendar years beginning after 2001.

5.2      Suspension period following hardship distribution. A participant who
         receives a distribution of elective deferrals after December 31, 2001,
         on account of hardship shall be prohibited from making elective
         deferrals and employee contributions under this and all other plans of
         the employer for 6 months after receipt of the distribution.
         Furthermore, if elected by the employer in Section 2.3 of this
         amendment, a participant who receives a distribution of elective
         deferrals in calendar year 2001 on account of hardship shall be
         prohibited from making elective deferrals and employee contributions
         under this and all other plans until the later of January 1, 2002, or 6
         months after receipt of the distribution.

                                   ARTICLE VI
                             CATCH-UP CONTRIBUTIONS

Catch-up Contributions. Unless otherwise elected in Section 2.4 of this
amendment, all employees who are eligible to make elective deferrals under this
plan and who have attained age 50 before the close of the plan year shall be
eligible to make catch-up contributions in accordance with, and subject to the
limitations of, Section 414(v) of the Code. Such catch-up contributions shall
not be taken into account for purposes of the provisions of the plan
implementing the required limitations of Sections 402(g) and 415 of the Code.
The plan shall not be treated as failing to satisfy the provisions of the plan
implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12),
410(b), or 416 of the Code, as applicable, by reason of the making of such
catch-up contributions.

                                   ARTICLE VII
                         INCREASE IN COMPENSATION LIMIT

Increase in Compensation Limit. The annual compensation of each participant
taken into account in determining allocations for any plan year beginning after
December 31, 2001, shall not exceed $200,000, as adjusted for cost-of-living
increases in accordance with Section 401(a)(17)(B) of the Code. Annual
compensation means compensation during the plan year or such other consecutive
12-month period over which compensation is otherwise determined under the plan
(the determination period). The cost-of-living adjustment in effect for a
calendar year applies to annual compensation for the determination period that
begins with or within such calendar year.

                                  ARTICLE VIII
                                   PLAN LOANS

Plan loans for owner-employees or shareholder-employees. If the plan permits
loans to be made to participants, then effective for plan loans made after
December 31, 2001, plan provisions prohibiting loans to any owner-employee or
shareholder-employee shall cease to apply.

                                   ARTICLE IX
              LIMITATIONS ON CONTRIBUTIONS (IRC SECTION 415 LIMITS)

9.1      Effective date. This Section shall be effective for limitation years
         beginning after December 31, 2001.

9.2      Maximum annual addition. Except to the extent permitted under Article
         VI of this amendment and Section 414(v) of the Code, if applicable, the
         annual addition that may be contributed or allocated to a participant's
         account under the plan for any limitation year shall not exceed the
         lesser of:

         a.       $40,000, as adjusted for increases in the cost-of-living
                  under Section 415(d) of the Code, or

         b.       100 percent of the participant's compensation, within the
                  meaning of Section 415(c)(3) of the Code, for the limitation
                  year.

         The compensation limit referred to in b. shall not apply to any
         contribution for medical benefits after separation from service (within
         the meaning of Section 401(h) or Section 419A(f)(2) of the Code) which
         is otherwise treated as an annual addition.

(c) Copyright 2001

                                       3
<PAGE>

                                    ARTICLE X
                         MODIFICATION OF TOP-HEAVY RULES

10.1     Effective date. This Article shall apply for purposes of determining
         whether the plan is a top-heavy plan under Section 416(g) of the Code
         for plan years beginning after December 31, 2001, and whether the plan
         satisfies the minimum benefits requirements of Section 416(c) of the
         Code for such years. This Article amends the top-heavy provisions of
         the plan.

10.2     Determination of top-heavy status.

10.2.1   Key employee. Key employee means any employee or former employee
         (including any deceased employee) who at any time during the plan year
         that includes the determination date was an officer of the employer
         having annual compensation greater than $130,000 (as adjusted under
         Section 416(i)(1) of the Code for plan years beginning after December
         31, 2002), a 5-percent owner of the employer, or a 1-percent owner of
         the employer having annual compensation of more than $150,000. For
         this purpose, annual compensation means compensation within the
         meaning of Section 415(c)(3) of the Code. The determination of who is
         a key employee will be made in accordance with Section 416(i)(1) of
         the Code and the applicable regulations and other guidance of general
         applicability issued thereunder.

10.2.2   Determination of present values and amounts. This Section 10.2.2 shall
         apply for purposes of determining the present values of accrued
         benefits and the amounts of account balances of employees as of the
         determination date.

         a.       Distributions during year ending on the determination date.
                  The present values of accrued benefits and the amounts of
                  account balances of an employee as of the determination date
                  shall be increased by the distributions made with respect to
                  the employee under the plan and any plan aggregated with the
                  plan under Section 416(g)(2) of the Code during the 1-year
                  period ending on the determination date. The preceding
                  sentence shall also apply to distributions under a
                  terminated plan which, had it not been terminated, would
                  have been aggregated with the plan under Section
                  416(g)(2)(A)(i) of the Code. In the case of a distribution
                  made for a reason other than separation from service, death,
                  or disability, this provision shall be applied by
                  substituting "5-year period" for "1-year period."

         b.       Employees not performing services during year ending on the
                  determination date. The accrued benefits and accounts of any
                  individual who has not performed services for the employer
                  during the 1-year period ending on the determination date
                  shall not be taken into account.

10.3     Minimum benefits.

10.3.1   Matching contributions. Employer matching contributions shall be taken
         into account for purposes of satisfying the minimum contribution
         requirements of Section 416(c)(2) of the Code and the plan. The
         preceding sentence shall apply with respect to matching contributions
         under the plan or, if the plan provides that the minimum contribution
         requirement shall be met in another plan, such other plan. Employer
         matching contributions that are used to satisfy the minimum
         contribution requirements shall be treated as matching contributions
         for purposes of the actual contribution percentage test and other
         requirements of Section 401(m) of the Code.

10.3.2   Contributions under other plans. The employer may provide, in an
         addendum to this amendment, that the minimum benefit requirement shall
         be met in another plan (including another plan that consists solely of
         a cash or deferred arrangement which meets the requirements of Section
         401(k)(12) of the Code and matching contributions with respect to which
         the requirements of Section 401(m)(11) of the Code are met). The
         addendum should include the name of the other plan, the minimum benefit
         that will be provided under such other plan, and the employees who will
         receive the minimum benefit under such other plan.

                                   ARTICLE XI
                                DIRECT ROLLOVERS

11.1     Effective date. This Article shall apply to distributions made after
         December 31, 2001.

11.2     Modification of definition of eligible retirement plan. For purposes of
         the direct rollover provisions of the plan, an eligible retirement plan
         shall also mean an annuity contract described in Section 403(b) of the
         Code and an eligible plan under Section 457(b) of the Code which is
         maintained by a state, political subdivision of a state, or any agency
         or instrumentality of a state or political subdivision of a state and
         which agrees to separately account for amounts transferred into such
         plan from this plan. The definition of eligible retirement plan shall
         also apply in the case of a distribution to a surviving spouse, or to a
         spouse or former spouse who is the alternate payee under a qualified
         domestic relation order, as defined in Section 414(p) of the Code.

11.3     Modification of definition of eligible rollover distribution to exclude
         hardship distributions. For purposes of the direct rollover provisions
         of the plan, any amount that is distributed on account of hardship
         shall not be an eligible rollover

                                                              (c) Copyright 2001

                                       4
<PAGE>

         distribution and the distributee may not elect to have any portion of
         such a distribution paid directly to an eligible retirement plan.

11.4     Modification of definition of eligible rollover distribution to include
         after-tax employee contributions. For purposes of the direct rollover
         provisions in the plan, a portion of a distribution shall not fail to
         be an eligible rollover distribution merely because the portion
         consists of after-tax employee contributions which are not includible
         in gross income. However, such portion may be transferred only to an
         individual retirement account or annuity described in Section 408(a) or
         (b) of the Code, or to a qualified defined contribution plan described
         in Section 401(a) or 403(a) of the Code that agrees to separately
         account for amounts so transferred, including separately accounting for
         the portion of such distribution which is includible in gross income
         and the portion of such distribution which is not so includible.

                                   ARTICLE XII
                           ROLLOVERS FROM OTHER PLANS

Rollovers from other plans. The employer, operationally and on a
nondiscriminatory basis, may limit the source of rollover contributions that may
be accepted by this plan.

                                  ARTICLE XIII
                           REPEAL OF MULTIPLE USE TEST

Repeal of Multiple Use Test. The multiple use test described in Treasury
Regulation Section 1.401(m)-2 and the plan shall not apply for plan years
beginning after December 31, 2001.

                                   ARTICLE XIV
                               ELECTIVE DEFERRALS

14.1     Elective Deferrals - Contribution Limitation. No participant shall be
         permitted to have elective deferrals made under this plan, or any other
         qualified plan maintained by the employer during any taxable year, in
         excess of the dollar limitation contained in Section 402(g) of the Code
         in effect for such taxable year, except to the extent permitted under
         Article VI of this amendment and Section 414(v) of the Code, if
         applicable.

14.2     Maximum Salary Reduction Contributions for SIMPLE plans. If this is a
         SIMPLE 401(k) plan, then except to the extent permitted under Article
         VI of this amendment and Section 414(v) of the Code, if applicable, the
         maximum salary reduction contribution that can be made to this plan is
         the amount determined under Section 408(p)(2)(A)(ii) of the Code for
         the calendar year.

                                   ARTICLE XV
                           SAFE HARBOR PLAN PROVISIONS

Modification of Top-Heavy Rules. The top-heavy requirements of Section 416 of
the Code and the plan shall not apply in any year beginning after December 31,
2001, in which the plan consists solely of a cash or deferred arrangement which
meets the requirements of Section 401(k)(12) of the Code and matching
contributions with respect to which the requirements of Section 401(m)(11) of
the Code are met.

                                   ARTICLE XVI
                    DISTRIBUTION UPON SEVERANCE OF EMPLOYMENT

16.1     Effective date. This Article shall apply for distributions and
         transactions made after December 31, 2001, regardless of when the
         severance of employment occurred.

16.2     New distributable event. A participant's elective deferrals, qualified
         nonelective contributions, qualified matching contributions, and
         earnings attributable to these contributions shall be distributed on
         account of the participant's severance from employment. However, such a
         distribution shall be subject to the other provisions of the plan
         regarding distributions, other than provisions that require a
         separation from service before such amounts may be distributed.

This amendment has been executed this 16th day of September, 2004.

Name of Employer:         Hollywood Media Corp.

By: /s/ Mitchell Rubenstein
    ---------------------------------------------------
                  EMPLOYER
    Mitchell Rubenstein,CEO

Name of Plan: Hollywood Media Corp. 401(k) Retirement Savings Plan
              ----------------------------------------------------

(c) Copyright 2001

                                       5
<PAGE>

                                   POST-EGTRRA
                                AMENDMENT TO THE

              HOLLYWOOD MEDIA CORP. 401(K) RETIREMENT SAVINGS PLAN

<PAGE>

                                                           POST-EGTRRA- EMPLOYER

                                    ARTICLE I
                                    PREAMBLE

1.1      Adoption and effective date of amendment. This amendment of the plan is
         adopted to reflect certain provisions of the Economic Growth and Tax
         Relief Reconciliation Act of 2001 ("EGTRRA"), the Job Creation and
         Worker Assistance Act of 2002, and other IRS guidance. This amendment
         is intended as good faith compliance with the requirements of EGTRRA
         and is to be construed in accordance with EGTRRA and guidance issued
         thereunder. Except as otherwise provided, this amendment shall be
         effective as of the first day of the first plan year beginning after
         December 31, 2001.

1.2      Supersession of inconsistent provisions. This amendment shall supersede
         the provisions of the plan to the extent those provisions are
         inconsistent with the provisions of this amendment.

                                   ARTICLE II
                          ADOPTION AGREEMENT ELECTIONS

         THE QUESTIONS IN THIS ARTICLE II ONLY NEED TO BE COMPLETED IN ORDER TO
         OVERRIDE THE DEFAULT PROVISIONS SET FORTH BELOW. IF ALL OF THE DEFAULT
         PROVISIONS WILL APPLY, THEN THESE QUESTIONS SHOULD BE SKIPPED.

         UNLESS THE EMPLOYER ELECTS OTHERWISE IN THIS ARTICLE II, THE FOLLOWING
         DEFAULTS APPLY:

         1.       IF CATCH-UP CONTRIBUTIONS ARE PERMITTED, THEN THE CATCH-UP
                  CONTRIBUTIONS ARE TREATED LIKE ANY OTHER ELECTIVE DEFERRALS
                  FOR PURPOSES OF DETERMINING MATCHING CONTRIBUTIONS UNDER THE
                  PLAN.

         2.       FOR PLANS SUBJECT TO THE QUALIFIED JOINT AND SURVIVOR ANNUITY
                  RULES, ROLLOVERS ARE AUTOMATICALLY EXCLUDED IN DETERMINING
                  WHETHER THE $5,000 THRESHOLD HAS BEEN EXCEEDED FOR AUTOMATIC
                  CASH-OUTS (IF THE PLAN PROVIDES FOR AUTOMATIC CASH-OUTS). THIS
                  IS APPLIED TO ALL PARTICIPANTS REGARDLESS OF WHEN THE
                  DISTRIBUTABLE EVENT OCCURRED.

         3.       THE MINIMUM DISTRIBUTION REQUIREMENTS ARE EFFECTIVE FOR
                  DISTRIBUTION CALENDAR YEARS BEGINNING WITH THE 2002 CALENDAR
                  YEAR. IN ADDITION, PARTICIPANTS OR BENEFICIARIES MAY ELECT ON
                  AN INDIVIDUAL BASIS WHETHER THE 5-YEAR RULE OR THE LIFE
                  EXPECTANCY RULE IN THE PLAN APPLIES TO DISTRIBUTIONS AFTER THE
                  DEATH OF A PARTICIPANT WHO HAS A DESIGNATED BENEFICIARY.

         4.       AMOUNTS THAT ARE "DEEMED 125 COMPENSATION" ARE NOT INCLUDED IN
                  THE DEFINITION OF COMPENSATION.

2.1      EXCLUSION OF ROLLOVERS IN APPLICATION OF INVOLUNTARY CASH-OUT
         PROVISIONS. If the plan is subject to the joint and survivor annuity
         rules and includes involuntary cash-out provisions, then unless one of
         the options below is elected, effective for distributions made after
         December 31, 2001, rollover contributions will be excluded in
         determining the value of a participant's nonforfeitable account balance
         for purposes of the plan's involuntary cash-out rules.
         a.    [ ] Rollover contributions will not be excluded.
         b.    [ ] Rollover contributions will be excluded only with respect to
                   distributions made after (Enter a date no earlier than
                   December 31, 2001).
         c.    [ ] Rollover contributions will only be excluded with respect to
                   participants who separated from service after____. (Enter a
                   date. The date may be earlier than December 31, 2001.)

2.2      CATCH-UP CONTRIBUTIONS (FOR 401(K) PROFIT SHARING PLANS ONLY): The plan
         permits catch-up contributions effective for calendar years beginning
         after December 31, 2001, (Article V) unless otherwise elected below.
         a.    [ ] The plan does not permit catch-up contributions to be made.
         b.    [ ] Catch-up contributions are permitted effective as of: (enter
                   a date no earlier than January 1, 2002).

         AND, catch-up contributions will be taken into account in applying any
         matching contribution under the Plan unless otherwise elected below.

         c.    [ ] Catch-up contributions will not be taken into account in
                   applying any matching contribution under the Plan.

2.3      AMENDMENT FOR SECTION 401(A)(9) FINAL AND TEMPORARY TREASURY
         REGULATIONS.

         a.   EFFECTIVE DATE. Unless a later effective date is specified in
              below, the provisions of Article VI of this amendment will apply
              for purposes of determining required minimum distributions for
              calendar years beginning with the 2002 calendar year.

               [ ] This amendment applies for purposes of determining equired
                   minimum distributions for distribution calendar years
                   beginning with the 2003 calendar year, as well as required
                   minimum distributions for the 2002 distribution calendar year
                   that are made on or after _____ (leave blank if this
                   amendment does not apply to any minimum distributions for the
                   2002 distribution calendar year).

(C) Copyright 2003

                                       1
<PAGE>

         b. ELECTION TO NOT PERMIT PARTICIPANTS OR BENEFICIARIES TO ELECT 5-YEAR
            RULE.

            Unless elected below, Participants or beneficiaries may elect on
            an individual basis whether the 5-year rule or the life
            expectancy rule in Sections 6.2.2 and 6.4.2 of this amendment
            applies to distributions after the death of a Participant who has
            a designated beneficiary. The election must be made no later than
            the earlier of September 30 of the calendar year in which
            distribution would be required to begin under Section 6.2.2 of
            this amendment, or by September 30 of the calendar year which
            contains the fifth anniversary of the Participant's (or, if
            applicable, surviving spouse's) death. If neither the Participant
            nor beneficiary makes an election under this paragraph,
            distributions will be made in accordance with Sections 6.2.2 and
            6.4.2 of this amendment and, if applicable, the elections in
            Section 2.3.c of this amendment below.

            [ ]    The provision set forth above in this Section 2.3.b
                   shall not apply. Rather, Sections 6.2.2 and 6.4.2 of
                   this amendment shall apply except as elected in Section
                   2.3.c of this amendment below.

         c. ELECTION TO APPLY 5-YEAR RULE TO DISTRIBUTIONS TO DESIGNATED
            BENEFICIARIES.

            [ ]    If the Participant dies before distributions begin and there
                   is a designated beneficiary, distribution to the designated
                   beneficiary is not required to begin by the date specified
                   in the Plan, but the Participant's entire interest will be
                   distributed to the designated beneficiary by December 31 of
                   the calendar year containing the fifth anniversary of the
                   Participant's death. If the Participant's surviving spouse
                   is the Participant's sole designated beneficiary and the
                   surviving spouse dies after the Participant but before
                   distributions to either the Participant or the surviving
                   spouse begin, this election will apply as if the surviving
                   spouse were the Participant.

                   If the above is elected, then this election will apply to:

                   1. [ ] All distributions.

                   2. [ ] The following distributions: .

         d.   ELECTION TO ALLOW DESIGNATED BENEFICIARY RECEIVING DISTRIBUTIONS
              UNDER 5-YEAR RULE TO ELECT LIFE EXPECTANCY DISTRIBUTIONS.

              [ ]  A designated beneficiary who is receiving payments
                   under the 5-year rule may make a new election to
                   receive payments under the life expectancy rule until
                   December 31, 2003, provided that all amounts that would
                   have been required to be distributed under the life
                   expectancy rule for all distribution calendar years
                   before 2004 are distributed by the earlier of December
                   31, 2003, or the end of the 5-year period.

2.4      DEEMED 125 COMPENSATION. Article VII of this amendment shall not apply
         unless otherwise elected below.

              [ ]  Article VII of this amendment (Deemed 125 Compensation)
                   shall apply effective as of Plan Years and Limitation Years
                   beginning on or after (insert the later of January 1, 1998,
                   or the first day of the first plan year the Plan used this
                   definition).

                                   ARTICLE III
                              INVOLUNTARY CASH-OUTS

3.1      Applicability and effective date. If the plan is subject to the
         qualified joint and survivor annuity rules and provides for involuntary
         cash-outs of amounts less than $5,000, then unless otherwise elected in
         Section 2.1 of this amendment, this Article shall apply for
         distributions made after December 31, 2001, and shall apply to all
         participants.

3.2      Rollovers disregarded in determining value of account balance for
         involuntary distributions. For purposes of the Sections of the plan
         that provide for the involuntary distribution of vested accrued
         benefits of $5,000 or less, the value of a participant's nonforfeitable
         account balance shall be determined without regard to that portion of
         the account balance that is attributable to rollover contributions (and
         earnings allocable thereto) within the meaning of Sections 402(c),
         403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), and 457(e)(16) of the Code. If
         the value of the participant's nonforfeitable account balance as so
         determined is $5,000 or less, then the plan shall immediately
         distribute the participant's entire nonforfeitable account balance.

                                                              (C) Copyright 2003

                                       2
<PAGE>

                                   ARTICLE IV
                             HARDSHIP DISTRIBUTIONS

Reduction of Section 402(g) of the Code following hardship distribution. If the
plan provides for hardship distributions upon satisfaction of the safe harbor
(deemed) standards as set forth in Treas. Reg. Section 1.401(k)-1(d)(2)(iv),
then effective as of the date the elective deferral suspension period is reduced
from 12 months to 6 months pursuant to EGTRRA, there shall be no reduction in
the maximum amount of elective deferrals that a Participant may make pursuant to
Section 402(g) of the Code solely because of a hardship distribution made by
this plan or any other plan of the Employer.

                                    ARTICLE V
                             CATCH-UP CONTRIBUTIONS

Catch-up Contributions. Unless otherwise elected in Section 2.2 of this
amendment, effective for calendar years beginning after December 31, 2001, all
employees who are eligible to make elective deferrals under this plan and who
have attained age 50 before the close of the calendar year shall be eligible to
make catch-up contributions in accordance with, and subject to the limitations
of, Section 414(v) of the Code. Such catch-up contributions shall not be taken
into account for purposes of the provisions of the plan implementing the
required limitations of Sections 402(g) and 415 of the Code. The plan shall not
be treated as failing to satisfy the provisions of the plan implementing the
requirements of Sections 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of
the Code, as applicable, by reason of the making of such catch-up contributions.

If elected in Section 2.2, catch-up contributions shall not be treated as
elective deferrals for purposes of applying any Employer matching contributions
under the plan.

                                   ARTICLE VI
                         REQUIRED MINIMUM DISTRIBUTIONS

6.1      GENERAL RULES

6.1.1    Effective Date. Unless a later effective date is specified in Section
         2.3.a of this amendment, the provisions of this amendment will apply
         for purposes of determining required minimum distributions for calendar
         years beginning with the 2002 calendar year.

6.1.2    Coordination with Minimum Distribution Requirements Previously in
         Effect. If the effective date of this amendment is earlier than
         calendar years beginning with the 2003 calendar year, required minimum
         distributions for 2002 under this amendment will be determined as
         follows. If the total amount of 2002 required minimum distributions
         under the Plan made to the distributee prior to the effective date of
         this amendment equals or exceeds the required minimum distributions
         determined under this amendment, then no additional distributions will
         be required to be made for 2002 on or after such date to the
         distributee. If the total amount of 2002 required minimum
         distributions under the Plan made to the distributee prior to the
         effective date of this amendment is less than the amount determined
         under this amendment, then required minimum distributions for 2002 on
         and after such date will be determined so that the total amount of
         required minimum distributions for 2002 made to the distributee will
         be the amount determined under this amendment.

6.1.3    Precedence. The requirements of this amendment will take precedence
         over any inconsistent provisions of the Plan.

6.1.4    Requirements of Treasury Regulations Incorporated. All distributions
         required under this amendment will be determined and made in accordance
         with the Treasury regulations under Section 401(a)(9) of the Internal
         Revenue Code.

6.1.5    TEFRA Section 242(b)(2) Elections. Notwithstanding the other provisions
         of this amendment, distributions may be made under a designation made
         before January 1, 1984, in accordance with Section 242(b)(2) of the Tax
         Equity and Fiscal Responsibility Act (TEFRA) and the provisions of the
         Plan that relate to Section 242(b)(2) of TEFRA.

6.2      TIME AND MANNER OF DISTRIBUTION

6.2.1    Required Beginning Date. The Participant's entire interest will be
         distributed, or begin to be distributed, to the Participant no later
         than the Participant's required beginning date.

6.2.2    Death of Participant Before Distributions Begin. If the Participant
         dies before distributions begin, the Participant's entire interest will
         be distributed, or begin to be distributed, no later than as follows:

         (a) If the Participant's surviving spouse is the Participant's sole
         designated beneficiary, then, except as provided in Article VI,
         distributions to the surviving spouse will begin by December 31 of the
         calendar year immediately following the calendar year in which the
         Participant died, or by December 31 of the calendar year in which the
         Participant would have attained age 70 1/2, if later.

(C) Copyright 2003

                                       3
<PAGE>

         (b) If the Participant's surviving spouse is not the Participant's sole
         designated beneficiary, then, except as provided in Section 2.3 of this
         amendment, distributions to the designated beneficiary will begin by
         December 31 of the calendar year immediately following the calendar
         year in which the Participant died.

         (c) If there is no designated beneficiary as of September 30 of the
         year following the year of the Participant's death, the Participant's
         entire interest will be distributed by December 31 of the calendar year
         containing the fifth anniversary of the Participant's death.

         (d) If the Participant's surviving spouse is the Participant's sole
         designated beneficiary and the surviving spouse dies after the
         Participant but before distributions to the surviving spouse begin,
         this Section 6.2.2, other than Section 6.2.2(a), will apply as if the
         surviving spouse were the Participant.

         For purposes of this Section 6.2.2 and Section 2.3, unless Section
         6.2.2(d) applies, distributions are considered to begin on the
         Participant's required beginning date. If Section 6.2.2(d) applies,
         distributions are considered to begin on the date distributions are
         required to begin to the surviving spouse under Section 6.2.2(a). If
         distributions under an annuity purchased from an insurance company
         irrevocably commence to the Participant before the Participant's
         required beginning date (or to the Participant's surviving spouse
         before the date distributions are required to begin to the surviving
         spouse under Section 6.2.2(a)), the date distributions are considered
         to begin is the date distributions actually commence.

6.2.3    Forms of Distribution. Unless the Participant's interest is distributed
         in the form of an annuity purchased from an insurance company or in a
         single sum on or before the required beginning date, as of the first
         distribution calendar year distributions will be made in accordance
         with Sections 6.3 and 6.4 of this amendment. If the Participant's
         interest is distributed in the form of an annuity purchased from an
         insurance company, distributions thereunder will be made in accordance
         with the requirements of Section 401(a)(9) of the Code and the Treasury
         regulations.

6.3      REQUIRED MINIMUM DISTRIBUTIONS DURING PARTICIPANT'S LIFETIME

6.3.1    Amount of Required Minimum Distribution For Each Distribution Calendar
         Year. During the Participant's lifetime, the minimum amount that will
         be distributed for each distribution calendar year is the lesser of:

         (a) the quotient obtained by dividing the Participant's account balance
         by the distribution period in the Uniform Lifetime Table set forth in
         Section 1.401(a)(9)-9 of the Treasury regulations, using the
         Participant's age as of the Participant's birthday in the distribution
         calendar year; or

         (b) if the Participant's sole designated beneficiary for the
         distribution calendar year is the Participant's spouse, the quotient
         obtained by dividing the Participant's account balance by the number in
         the Joint and Last Survivor Table set forth in Section 1.401(a)(9)-9 of
         the Treasury regulations, using the Participant's and spouse's attained
         ages as of the Participant's and spouse's birthdays in the distribution
         calendar year.

6.3.2    Lifetime Required Minimum Distributions Continue Through Year of
         Participant's Death. Required minimum distributions will be determined
         under this Section 6.3 beginning with the first distribution calendar
         year and up to and including the distribution calendar year that
         includes the Participant's date of death.

6.4      REQUIRED MINIMUM DISTRIBUTIONS AFTER PARTICIPANT'S DEATH

6.4.1    Death On or After Date Distributions Begin.

         (a) Participant Survived by Designated Beneficiary. If the Participant
         dies on or after the date distributions begin and there is a designated
         beneficiary, the minimum amount that will be distributed for each
         distribution calendar year after the year of the Participant's death is
         the quotient obtained by dividing the Participant's account balance by
         the longer of the remaining life expectancy of the Participant or the
         remaining life expectancy of the Participant's designated beneficiary,
         determined as follows:

                 (1) The Participant's remaining life expectancy is calculated
                 using the age of the Participant in the year of death, reduced
                 by one for each subsequent year.

                 (2) If the Participant's surviving spouse is the Participant's
                 sole designated beneficiary, the remaining life expectancy of
                 the surviving spouse is calculated for each distribution
                 calendar year after the year of the Participant's death using
                 the surviving spouse's age as of the spouse's birthday in that
                 year. For distribution calendar years after the year of the
                 surviving spouse's death, the remaining life expectancy of the
                 surviving spouse is calculated using the age of the surviving
                 spouse as of the spouse's birthday in the calendar year of the
                 spouse's death, reduced by one for each subsequent calendar
                 year.

                                                              (C) Copyright 2003

                                       4
<PAGE>

                 (3) If the Participant's surviving spouse is not the
                 Participant's sole designated beneficiary, the designated
                 beneficiary's remaining life expectancy is calculated using the
                 age of the beneficiary in the year following the year of the
                 Participant's death, reduced by one for each subsequent year.

         (b) No Designated Beneficiary. If the Participant dies on or after the
         date distributions begin and there is no designated beneficiary as of
         September 30 of the year after the year of the Participant's death, the
         minimum amount that will be distributed for each distribution calendar
         year after the year of the Participant's death is the quotient obtained
         by dividing the Participant's account balance by the Participant's
         remaining life expectancy calculated using the age of the Participant
         in the year of death, reduced by one for each subsequent year.

6.4.2    Death Before Date Distributions Begin.

         (a) Participant Survived by Designated Beneficiary. Except as provided
         in Section 2.3, if the Participant dies before the date distributions
         begin and there is a designated beneficiary, the minimum amount that
         will be distributed for each distribution calendar year after the year
         of the Participant's death is the quotient obtained by dividing the
         Participant's account balance by the remaining life expectancy of the
         Participant's designated beneficiary, determined as provided in Section
         6.4.1.

         (b) No Designated Beneficiary. If the Participant dies before the date
         distributions begin and there is no designated beneficiary as of
         September 30 of the year following the year of the Participant's death,
         distribution of the Participant's entire interest will be completed by
         December 31 of the calendar year containing the fifth anniversary of
         the Participant's death.

         (c) Death of Surviving Spouse Before Distributions to Surviving Spouse
         Are Required to Begin. If the Participant dies before the date
         distributions begin, the Participant's surviving spouse is the
         Participant's sole designated beneficiary, and the surviving spouse
         dies before distributions are required to begin to the surviving spouse
         under Section 6.2.2(a), this Section 6.4.2 will apply as if the
         surviving spouse were the Participant.

6.5      DEFINITIONS

6.5.1    Designated beneficiary. The individual who is designated as the
         Beneficiary under the Plan and is the designated beneficiary under
         Section 401(a)(9) of the Internal Revenue Code and Section
         1.401(a)(9)-1, Q&A-4, of the Treasury regulations.

6.5.2    Distribution calendar year. A calendar year for which a minimum
         distribution is required. For distributions beginning before the
         Participant's death, the first distribution calendar year is the
         calendar year immediately preceding the calendar year which contains
         the Participant's required beginning date. For distributions beginning
         after the Participant's death, the first distribution calendar year is
         the calendar year in which distributions are required to begin under
         Section 6.2.2. The required minimum distribution for the Participant's
         first distribution calendar year will be made on or before the
         Participant's required beginning date. The required minimum
         distribution for other distribution calendar years, including the
         required minimum distribution for the distribution calendar year in
         which the Participant's required beginning date occurs, will be made
         on or before December 31 of that distribution calendar year.

6.5.3    Life expectancy. Life expectancy as computed by use of the Single Life
         Table in Section 1.401(a)(9)-9 of the Treasury regulations.

6.5.4    Participant's account balance. The account balance as of the last
         valuation date in the calendar year immediately preceding the
         distribution calendar year (valuation calendar year) increased by the
         amount of any contributions made and allocated or forfeitures allocated
         to the account balance as of the dates in the valuation calendar year
         after the valuation date and decreased by distributions made in the
         valuation calendar year after the valuation date. The account balance
         for the valuation calendar year includes any amounts rolled over or
         transferred to the Plan either in the valuation calendar year or in the
         distribution calendar year if distributed or transferred in the
         valuation calendar year.

6.5.5    Required beginning date. The date specified in the Plan when
         distributions under Section 401(a)(9) of the Internal Revenue Code are
         required to begin.

                                   ARTICLE VII
                             DEEMED 125 COMPENSATION

If elected, this Article shall apply as of the effective date specified in
Section 2.4 of this amendment. For purposes of any definition of compensation
under this Plan that includes a reference to amounts under Section 125 of the
Code, amounts under Section 125 of the Code include any amounts not available to
a Participant in cash in lieu of group health coverage because the Participant
is unable to certify that he or she has other health coverage. An amount will be
treated as an amount under Section 125 of the Code only if the Employer does not
request or collect information regarding the Participant's other health coverage
as part of the enrollment process for the health plan.

(C) Copyright 2003

                                       5
<PAGE>

POST-EGTRRA- Employer

This amendment has been executed this 16th day of September, 2004.

Name of Plan: Hollywood Media Corp. 401(k) Retirement Savings Plan
              ----------------------------------------------------

Name of Employer: Hollywood Media Corp.
                  ---------------------

By: /s/ Mitchell Rubenstein
    ---------------------------------------------------
                  EMPLOYER
    Mitchell Rubenstein, CEO

                                                              (C) Copyright 2001
                                        6EXHIBIT 10.1

                         EXECUTIVE EMPLOYMENT AGREEMENT

         This Employment Agreement ("Agreement") is effective as of April 13th,
1999, between CYGENE, INC., a Delaware corporation (the "Company"), and MARTIN
MUNZER (the "Employee").

                                    RECITALS

         The Company desires to employ Employee and Employee desires to accept
such employment in an executive capacity in accordance with the terms and
conditions set forth below.

                                   AGREEMENTS

         In consideration of the mutual covenants contained herein, and for
other good and valuable consideration, receipt of which is acknowledged by the
parties, the Company and the Employee agree as follows:

         1. TERM OF EMPLOYMENT. The Company employs Employee and Employee
accepts employment with the Company for a period of seven (7) years beginning on
the effective date of this Agreement as set forth above ("Initial Employment
Term"). This Agreement shall be renewed automatically for an additional seven
(7) year period on the seventh anniversary date hereof unless the Company's
Board of Directors notifies Employee in writing or Employee notifies the
Company's Board of Directors in writing that such renewal shall not take place.
Said notice shall be given not less than one hundred eighty (180) days prior to
end of the Initial Employment Term.

         In the event of any extension of this Agreement, the terms of this
Agreement shall be deemed to continue in effect for the term of such extension
("Extended Employment Term"). The Initial Employment Term and the Extended
Employment Term will be collectively referred to as the "Employment Term."

         2. DUTIES OF EMPLOYEE. Employee shall serve as President and Chief
Executive Officer of the Company throughout the Employment Term. In his
capacity, Employee shall have responsibility for the matters set forth in the
By-Laws of the Company, and shall perform such other duties within his
experience or professional competence as may be delegated to him from time to
time by the Board of Directors of the Company to whom he shall report directly.

         3. EXCLUSIVE SERVICES. Subject to Section 4 hereof, Company
acknowledges that during the Term hereof, Employee may be engaged in business
activities in addition to those contemplated by this Agreement, provided that
the Employee will devote such time and attention to the affairs of the Company
as is reasonably appropriate and necessary to properly discharge his duties.

         4. NON-COMPETITION. To induce the Company to enter into this Agreement,
Employee agrees that:

                  A. Defined Terms. The principal business of the Company is the
development of intellectual property, processes and methods associated with DNA
and/or RNA analysis (the "Business"). The region serviced by the Company is a
geographic area which includes the United States of America (the "Region").
Employee's employment with the Company will bring Employee into close contact

<PAGE>

with the members and other customers of the Company and with the trade secrets
and other confidential affairs of the Company. The Company has a significant
interest in protecting its proprietary interest in, and the good will associated
with, the foregoing. As used in this Section 4, the term "Restricted Period"
means the period of eighteen months following termination of Employee's
employment with the Company (whether for cause, upon expiration of the
employment period or otherwise.)

                  B. Period Of Employment. During the term of Employee's
employment hereunder, Employee shall not, directly or indirectly, either as an
employee, employer, consultant, agent, principal, partner, stockholder,
corporate officer, director, or in any other individual or representative
capacity, engage or participate in or acquire, hold, or retain any interest in
any business which is competitive with the Business of the Company in any
location. Subject to the foregoing, Employee may acquire, hold or retain equity
ownership of any such company, provided that such equity ownership does not
exceed five percent (5%) of the issued and outstanding shares of the voting
stock of such company.

                  C. Restricted Period. During the Restricted Period, unless the
Company and Employee shall otherwise agree in writing, Employee shall not, (i)
compete directly with the Company in the Region; (ii) enter into the employ of,
or render any services to, as an independent contractor or otherwise, any person
or entity engaged in the Business (or any aspect thereof) in competition with
the Company in the Region; (iii) become interested, as an individual, partner,
co-venturer, shareholder, officer, director, employee, principal, agent, trustee
or in any other relationship or capacity, in any person or entity engaged in the
Business (or any aspect thereof) in competition with the Company in the Region;
or (iv) on his own behalf or on behalf of or as an employee or agent of any
other person or business, contact or approach any person or business wherever
located, with a view to selling or assisting others to sell products or services
substantially competing with the Business. The Company and Employee shall meet
periodically to review the kinds of businesses each deems to be in competition
with the Company in the Region. They shall seek to reach agreement as to such
kinds of businesses solely for the purposes of this Agreement. Any such
agreement shall not be indicative of what business or businesses may be in
competition with the Company for any other purpose. In the event such periodic
reviews do not occur, competing kinds of businesses shall be those contemplated
by the term "Business" in Subsection 4.A. Notwithstanding the foregoing,
Employee may acquire, hold or retain equity ownership of a competing company
engaged in the Business, provided that such equity ownership does not exceed
five percent (5%) of the issued and outstanding shares of the voting stock of
such company.

                  D. Enforceability. If any portion of Section 4 is held to be
illegal, unenforceable, void, or voidable, the remainder shall remain in full
force and effect, and Section 4 shall be deemed altered and amended to the
minimum extent necessary to bring it within the legal requirements of
enforceability.

         5. UNIQUE SERVICES. Employee hereby represents and agrees that the
services to be performed under the terms of this Agreement are of a special,
unique, unusual, extraordinary, and intellectual character that gives them a
peculiar value, the loss of which cannot be reasonably or adequately compensated
in damages in any action at law. Employee, therefore, expressly agrees that the
Company, in addition to any rights or remedies that the Company might possess,
shall be entitled to injunctive and other equitable relief to prevent or remedy
a breach of this Agreement by Employee. If the Company attempts, but fails to
obtain injunctive or other equitable relief against Employee, the Company shall
reimburse the Employee for all costs including reasonable attorneys' and
paralegals' fees incurred as a result of defending any such action.

         6. INDEMNIFICATION. The Company shall defend Employee against all
claims made against Employee, and it shall indemnify Employee for all losses
sustained by Employee, in direct consequence of the proper and reasonable

                                       2
<PAGE>

discharge of Employee's duties on the Company's behalf, including any claim
brought against, or any loss sustained by, Employee in his role as an officer,
director or employee of the Company, provided that the Employee promptly
notifies the Company in writing of any such claim, gives the Company full
authority for the conduct of such defense and, at the sole expense of the
Company, participates in and aids the Company's counsel by furnishing such time,
information, expertise and assistance as is needed and reasonably requested for
such defense.

         7. CONFIDENTIAL INFORMATION. Employee acknowledges that in his
employment hereunder, and during any prior period of association with the
Company, he has occupied and will continue to occupy a position of trust and
confidence. During the period of Employee's employment hereunder and the
Restricted Period thereafter, Employee shall not, except as may be required to
perform his duties hereunder or as required by applicable law, without
limitation in time or until such information shall have become public other than
by Employee's unauthorized disclosure, disclose to others or use, whether
directly or indirectly, any Confidential Information regarding the Company.
"Confidential Information" shall mean information about the Company, and its
respective clients and customers that is not disclosed by the Company that was
learned by Employee in the course of his employment by the Company, including
(without limitation) any proprietary knowledge, trade secrets, data, formulae,
information and client and customer lists, pricing policies, suppliers, market
strategies, product development concepts and all papers, resumes, and records
(including computer records) of the documents containing such Confidential
Information. Employee acknowledges that such Confidential Information is
specialized, unique in nature and of great value to the Company, and that such
information gives the Company a competitive advantage. The Employee agrees to
deliver or return to the Company, at the Company's request, provided that the
Company is in compliance with all of its obligations to the Employee, at any
time or upon termination or expiration of his employment or as soon thereafter
as possible, all documents, computer tapes and disks, records, lists, data,
drawings, prints, notes and written information (and all copies thereof)
furnished by the Company or prepared by the Employee during the term of his
employment by the Company.

         8. COMPENSATION.

                  A. Salary. The Company shall pay Employee an annual base
salary of $130,000 ("Salary"), payable in equal bi-weekly installments in
arrears. The Salary of the Employee shall be increased to an annual base salary
of $250,000, payable in equal bi-weekly installments in arrears, at such time
that the Company has received net proceeds from an offering of its capital stock
in an amount not less than $2,000,000.

                  B. Bonus. The Company shall within 30 days of receipt of an
audit report for the prior fiscal year of the Company commencing with the fiscal
year ending December 31, 1999, pay Employee a bonus, not to exceed $750,000 up
to $100,000,000 of sales and not to exceed an additional $750,000 for up to each
additional $100,000,000 of sales, equal to 5% of the net income of the Company
determined in accordance with generally accepted accounting principles,
consistently applied. The report of the Company's auditor shall be binding in
the absence of fraud or manifest error.

                  C. Relocation Expenses. The Company shall reimburse Employee
for reasonable moving expenses in connection with the relocation of the Company
from Gainesville, Florida to Boca Raton, Florida.

         9. TAX WITHHOLDING. The Company shall have the right to deduct or
withhold from the compensation due to Employee hereunder any and all sums
required for any and all federal, social security, state and local taxes,
assessments or charges now applicable or that may be enacted and become
applicable in the future, not to include the Company's share of any such taxes.

                                       3
<PAGE>

         10. EMPLOYEE BENEFITS.

                  A. Vacation Time and Sick Leave. Employee shall be entitled to
four (4) weeks vacation annually, and all paid holidays provided to management
of the Company, and such days of sick leave without loss of compensation each
year during the Employment Term as set forth in the policies of the Company from
time to time. The Company acknowledges that its current policies are set forth
in the Corporate Handbook of the Company For the purposes of this paragraph, a
year shall begin on the effective date of this Agreement as set forth above. In
the event that Employee takes vacation time or sick leave in excess of the
maximum number of days set forth in this paragraph, the Board of Directors of
the Company shall determine whether or not Employee shall receive compensation
for such excess days. In the event that Employee does not for any reason take
the total amount of vacation time and/ or sick days authorized during any year,
such days shall not carry over and be accumulated in subsequent years.

                  B. Additional Benefits. Employee shall be entitled to all
employment benefits made available to other employees of the Company and its
affiliates from time to time.

                  C. Expense Reimbursement. During the Employment Term, the
Employee shall be entitled to receive prompt reimbursement of all properly
approved expenses incurred by him in the performance of his duties hereunder,
including but not limited to all expenses associated with travel and
entertainment on behalf of the Company, telephone and facsimile costs. The
Company will provide at its expense appropriate office space, administrative
support, supplies and other accutrements associated with the position that the
Employee occupies.

         11. TERMINATION OF THE AGREEMENT.

                  A. Termination for Cause. The Company may terminate Employee's
employment under this Agreement for "Cause," at any time, but only in the event
of (a) Employee's indictment for or formal charge with a felony (provided,
however, that following the commencement of an investigation by law enforcement
agencies of Employee for a felony of which the Company becomes aware and prior
to indictment, the Company may, without limiting or modifying in any other way
its obligations under this Agreement, suspend Employee with pay from the
performance of his duties hereunder, pending indictment or formal charge), or
(b) a determination by the Company's Board of Directors that Employee has (1)
materially neglected his duties or materially committed malfeasance or
misfeasance in his duties and (2) committed fraudulent or dishonest actions
against the Company.

                  B. Effect of Termination for Cause. In the event of
termination of Employee for cause as set forth in Subsection 11.A, or a
voluntary termination by Employee, Employee shall be entitled to salary,
benefits and entitlements for twelve (12) months after the termination, payable
in a lump sum within sixty (60) days of termination. If the Employee is not
convicted under an indictment described in Section 11.A, the Employee shall be
entitled to the salary, benefits and entitlements according to the terms of this
Agreement, payable in a lump sum within sixty (60) days. Such additional salary,
benefits and entitlements, if any, taken together with those previously provided
to the Employee, shall provide Employee with an aggregate of eighteen (18)
months salary, benefits and entitlements. Payment of any further bonuses or
other salaries claimed by Employee will be in the sole and absolute discretion
of the Board of Directors of the Company and Employee will have no entitlement
thereto.

                  C. Disability and Death. If during the Employment Term
Employee should die or suffer any physical or mental illness that renders him
incapable of fulfilling his obligations under this Agreement, and such

                                       4
<PAGE>

incapacity exists or may properly and reasonably be expected to exist for more
than one hundred eighty (180) calendar days in the aggregate, the Company may,
upon five (5) calendar days written notice to Employee, terminate this
Agreement. The determination of the Company that Employee is incapable of
fulfilling his obligations under this Agreement, together with a written report
of a medical examination so stating, to which examination by a physician
selected by the Company the Employee hereby agrees to submit, shall be final and
binding in the absence of fraud or manifest error. In the event of termination
under this Subsection 11.C, Employee, or his estate, as the case may be, shall
be entitled to an amount equal to eight (8) months' Salary, payable in a lump
sum within thirty (30) days of such termination, and any other accrued
compensation, plus such additional benefits, if any, as may be approved by the
Company's Board of Directors; provided that if the Company shall have in force
disability insurance or a life insurance policy, as the case may be, with the
Employee or his designee as beneficiary, in an aggregate amount not less than
eight (8) months salary of the Employee, then the Company shall not be obligated
to pay any amount hereunder other than any accrued compensation as of the date
of termination, plus such additional benefits, if any, as may be accrued by the
Company's Board of Directors. Employee, or his estate, as the case may be,
shall, upon termination under the terms of this Subsection 11.C, be further
entitled to additional compensation, to be calculated on a pro rata basis
according to the number of accrued vacation and sick days, if any, not taken by
Employee during the year defined for the purposes of vacation and sick leave, in
which Employee was terminated.

                  D. Voluntary Termination by Employee. In the event of
voluntary termination by Employee during or at the end of the Initial Employment
Term, or any Extended Employment Term, Employee shall be entitled only to those
amounts that have accrued to the date of termination or are expressly payable
under the terms of the Company's applicable benefit plans or are required by
applicable law. The Company may, in its sole and absolute discretion, confer
such other benefits or payments as it determines, but Employee shall have no
entitlement thereto.

                  E. Termination by Employer at the End of the Employment Term.
In the event that Employee's employment is terminated by the Company at the end
of the Initial Employment Term or any Extended Employment Term as a result of
the Company's notice specified in Section 1 above, Employee shall be treated as
in Subsection 11.D, but in addition shall be entitled to an amount equal to
twelve (12) months' Salary, and all other accrued additional compensation;
provided that the Employee shall be entitled to stock options vested through the
date of termination, but no more; provided, however, if such Termination occurs
during a vesting period, the Employee shall be entitled to stock options vested
pro rata from the commencement of such vesting period.

                  F. Termination by Employer During the Employment Term. Subject
to Clause G of this Section 11, in the event of termination by the Employer
other than at the end of the Initial Employment Term or Extended Employment
Term, other than for Cause under Subsection 11.A, Employee shall be entitled to
his then current Salary through the end of the then current Employment Term.

                  G. Acceleration Upon Change of Control. Unless this Agreement
provides otherwise or unless the Employee waives the application of this Section
11(G) prior to a Change of Control (as hereinafter defined), in the event of
termination of Employee following a Change of Control prior to the end of the
Employment Term the Employee shall be entitled to an amount in a lump sum of
three times the amount of (a) the then annual base salary, and (b) the average
annual bonus during the Term of this Agreement.

                            (a) Change of Control Defined: A "Change of Control"
shall be deemed to have occurred upon any of the following events:

                                       5
<PAGE>

                                    (1) The consummation of any of the following
transactions: (A) any merger, consolidation or other business combination of the
Company, with or into another corporation whereby the Company is not the
surviving entity, or an acquisition of securities or assets of the Company,
pursuant to which the Company is not the continuing or surviving corporation or
pursuant to which shares of Common Stock would be converted into cash,
securities or other property, other than a transaction in which the majority of
the holders of the voting stock of the Company immediately prior to such
transaction will own at least 50% of the total voting power of the
then-outstanding securities of the surviving corporation immediately after such
transaction, or (B) any sale, lease, exchange, or other transfer (in one
transaction or a series of related transactions) of all, or substantially all,
of the assets of the Company, or (C) the liquidation or dissolution of the
Company; or

                                    (2) A transaction in which any person (as
such term is defined in Sections 13(d)(3) and 14(d)(2) of the Exchange Act),
corporation or other entity (other than the Company, or any profit-sharing,
employee ownership or other employee benefit plan sponsored by the Company or
any Subsidiary, or any trustee of or fiduciary with respect to any such plan
when acting in such capacity, or any group comprised solely of such entities)
shall purchase any voting stock (or securities convertible into voting stock)
for cash, securities or any other consideration pursuant to a tender offer or
exchange offer, without the prior consent of the Board.

                  H. Noncompetition; Confidentiality. Nothing in this Section 11
shall affect the rights of the parties under Sections 4 and 7 above.

         12. ASSIGNMENT OF INTELLECTUAL PROPERTY RIGHTS.

                  A. Definition of "Inventions". As used herein, the term
"Inventions" shall mean all inventions, discoveries, improvements, trade
secrets, formulas, techniques, data, programs, systems, specifications,
documentation, algorithms, flow charts, logic diagrams, source codes, processes,
and other information, including works-in-progress, whether or not subject to
patent, trademark, copyright, trade secret, or mast work protection, and whether
or not reduced to practice, which are made, created, authored, conceived, or
reduced to practice by Employee, either alone or jointly with others, during the
period of employment with the Company and for one (1) year following the
termination of Employee's employment with the Company which (1) relate to the
actual or anticipated business, activities, research, or investigations of the
Company, or (2) result from or is suggested by work performed by Employee for
the Company (whether or not made or conceived during normal working hours or on
the premises of the Company), or (3) which result, to any extent, from use of
the Company's premises or property.

                  B. Work For Hire. Employee expressly acknowledges that all
copyrightable aspects of the Inventions are to be considered "works made for
hire" within the meaning the Copyright Act of 1976, as amended (the "Act"), and
that the Company is to be "author" within the meaning of such Act for all
purposes. All such copyrightable works, as well as all copies of such works in
whatever medium fixed or embodied, shall be owned exclusively by the Company as
of its creation, and Employee hereby expressly disclaims any and all interest in
any of such copyrightable works and waives any right of DROIT MORALE or similar
rights.

                  C. Assignment. Employee acknowledges and agrees that all
Inventions constitute trade secrets of the Company or the member of the Company,
as applicable, and shall be the sole property of the Company, as applicable or
any other entity designated by the Company. In the event that title to any or
all of the Inventions or any part or element thereof, may not, by operation of

                                       6
<PAGE>

law, vest in the Company, as applicable, or such Inventions may be found as a
matter of law not to be "works made for hire" within the meaning of the Act,
Employee hereby conveys and irrevocably assigns to the Company, as applicable,
without further consideration, all his right, title and interest, throughout the
universe and in perpetuity, in all Inventions and all copies of them, in
whatever medium fixed or embodied, and in all written records, graphics,
diagrams, notes, or reports relating thereto in Employee's possession or under
his control, including, with respect to any of the foregoing, all rights of
copyright, patent, trademark, trade secret, mask work, and any and all other
proprietary rights therein, the right to modify and create derivative works, the
right to invoke the benefit of any priority under any international convention
and all rights to register and renew same.

                  D. Proprietary Notices; No Filings; Waiver of Moral Rights.
Employee acknowledges that all Inventions shall at the sole option of the
Company bear the Company's patent, copyright, trademark, trade secret, and mask
work notices. Employee agrees not to file any patent, copyright, or trademark
applications relating to any Invention, except with prior written consent of an
authorized representative of the Company. Employee hereby expressly disclaims
any and all interest in any Inventions and waives any right of DROIT MORALE or
similar rights, such as rights of integrity or the right to be attributed as the
creator of the Invention.

                  E. Further Assurances. Employee agrees to assist the Company,
or any party designated by the Company, promptly on the Company's request,
whether before or after the termination of employment however such termination
may occur, in perfecting, registering, maintaining, and enforcing, in any
jurisdiction, the Company's rights in the Inventions by performing all acts and
executing all documents and instruments deemed necessary or convenient by the
Company, including, by way of illustration and not limitation:

                           (1) Executing assignments, applications, and other
documents and instruments in connection with (i) obtaining patents, copyrights,
trademarks, mask works, or other proprietary protections for the Inventions and
(ii) confirming the assignment to the Company of all right, title, and interest
in the Inventions or otherwise establishing the Company's exclusive ownership
rights therein.

                           (2) Cooperating in the prosecution of patent,
copyright, trademark and mask work applications, as well as in the enforcement
of the Company's rights in the Inventions, including, but not limited to,
testifying in court or before any patent, copyright, trademark or mask work
registry office, or any other administrative body.

                           Employee will be reimbursed for the value of his
services at that time as determined by agreement of the parties or a court of
competent jurisdiction and for all reasonable out-of-pocket costs incurred in
connection with the foregoing, if such assistance is requested by the Company
after the termination of employment. In addition, to the extent that, after the
termination of employment for whatever reason, Employee's technical expertise
shall be required in connection with the fulfillment of the aforementioned
obligations, the Company will compensate Employee at a reasonable rate for the
time actually spent by Employee at the Company's request rendering such
assistance.

                  F. Power Of Attorney. Employee hereby irrevocably appoints the
Company to be his Attorney-in-Fact in his name and on his behalf to execute any
document and to take any action and generally to use his name for the purpose of
giving to the Company the full benefit of the assignment provisions set forth
above, but for no other reason or purpose, this not being a general power of
attorney.

                  G. Consent to Use of Name. The Company reserves the right (but
shall not have the obligation) to publicize Employee's name and background in
connection with the marketing of the Inventions or the enforcement of the

                                       7
<PAGE>

Company's rights therein, during the Term of this Agreement. Employee is
responsible for supplying to the Company his resume or curriculum vitae for such
purposes. Employee agrees that the Company shall have the sole control over the
type style, type size, or placement of his name on any materials, or over the
final content of any biography used in said material.

                  H. Disclosure of Inventions. Employee will make full and
prompt disclosure to the Company of all Inventions subject to assignment to the
Company, and all information relating thereto in Employee's possession or under
his control as to possible applications and use thereof.

                  I. No Violation of Third Party Rights. Employee represents,
warrants, and covenants that he:

                           (1) will not, in the course of employment, infringe
upon or violate any proprietary rights of any third party (including, without
limitation, any third party confidential relationships, patents, copyrights,
mask works, trade secrets, or other proprietary rights);

                           (2) is not a party to any conflicting agreements with
third parties which will prevent him from fulfilling the terms of employment
and the obligations of this Agreement;

                           (3) does not have in his possession any confidential
or proprietary information or documents belonging to others and will not
disclose to the Company, use, or induce the Company to use, any confidential or
proprietary information or documents of others; and

                           (4) agrees to respect any and all valid  obligations
which he may now have to prior employers or to others relating to confidential
information, inventions, or discoveries which are the property of those prior
employers or others, as the case may be.

                           Employee has supplied or shall promptly supply to the
Company a copy of each written agreement to which Employee is subject (other
than any agreement to which the Company is a party) which includes any
obligation of confidentiality, assignment of Inventions, or non-competition as
of the date hereof.

                           Employee agrees to indemnify and save harmless the
Company from any loss, claim, damage, costs or expenses of any kind (including
without limitation, reasonable attorney's fees) to which the Company may be
subjected by virtue of a breach by Employee of the foregoing representations,
warranties, and covenants.

                  J. Obligations Upon Termination. In the event of any
termination of his employment, for whatever reason, provided the Company is in
compliance with all of its obligations to the Employee, Employee will promptly
(1) deliver to the Company all physical property, discs, documents, notes,
printouts, and all copies thereof and other materials in Employee's possession
or under Employee's control pertaining to the Business of the Company,
including, but not limited to, those embodying or relating to the Inventions and
the Confidential Information (as defined in Sections 7 and 12.A herein), (2)
deliver to the Company's patent department or legal department or other person
designated by the Company all notebooks and other data relating to research or
experiments or other work conducted by Employee in the scope of employment or
any Inventions made, created, authored, conceived, or reduced to practice by
Employee, either alone or jointly with others, and (3) make full disclosure
relating to any Inventions.

                  If Employee would like to keep certain property, such as
material relating to professional societies or other non-confidential material,

                                       8
<PAGE>

upon the termination of employment with the Company, he agrees to discuss such
issues with the Company. Where such a request does not put Confidential
Information of the Company at risk, the Company will customarily grant the
request.

                  Upon termination of employment with the Company, Employee's
obligations under this Section 12 shall survive and the Employee shall, if
requested by the Company, reaffirm Employee's recognition of the importance of
maintaining the confidentiality of the Company's Confidential Information and
reaffirm all of the Employee's obligations set forth in this Section 12.

         13. LIFE INSURANCE. The Company may, in its sole discretion, purchase
such life insurance policies as it deems necessary or appropriate, naming
Employee as the insured and the Company as beneficiary. Employee hereby agrees
to submit to any reasonable medical examination required for the purchase of
such insurance.

         14. NOTICES. Any notices to be given hereunder by either party to the
other shall be in writing and may be transmitted by personal delivery or by
certified mail, return receipt requested. Mailed notices shall be addressed to
the parties as follows:

                  If notice is to Company, to:      CyGene, Inc.
                                                    3700 N.W. 91st Street
                                                    Suite B300
                                                    Gainesville, Florida  32606

                  If notice is to Employee, to:     Martin Munzer
                                                    4303 N.W. 53rd Street
                                                    Gainesville, FL 32606

                  Either party may change its address by written notice in
accordance with this Section 14. Notices delivered personally shall be deemed
communicated as of the dates of actual receipt; mailed notices shall be deemed
communicated as of forty-eight (48) hours after the date of mailing.

         15. ARBITRATION. Any controversy between the parties involving the
construction or application of any of the terms, provisions or conditions of
this Agreement or in any way connected with Employee's employment with the
Company, including but not limited to, breach of this Agreement, termination or
discharge, claims of age, gender, race or disability discrimination, sexual
harassment or civil rights violations shall, within thirty days of the written
notice to the other party, be submitted, first to mediation in Palm Beach
County, Florida pursuant to the Rules of the American Arbitration Association
before a mediator selected by agreement of the parties, but if all disputes have
not been resolved within sixty (60) days of notification by either party that a
dispute exists, then to final and binding arbitration as follows:

                  A. The arbitration shall be held in Palm Beach County,
Florida.

                  B. The arbitration shall be conducted by one arbitrator, who
is a member of the American Arbitration Association ("AAA") and in accordance
with the rules of the AAA then in effect, subject to the specific exceptions set
out in Subsection 15.C, unless both parties agree otherwise. The arbitrator
shall be chosen from a panel of persons with knowledge of and experience in
employment and employment law issues.

                  C. Notwithstanding any rule of the AAA to the contrary, (1)
the parties shall be entitled to conduct discovery (i.e., investigation of facts

                                       9
<PAGE>

through deposition and other means) which shall be governed by the Florida Rules
of Civil Procedure then in effect; (2) the arbitrator shall have all power and
authority relating to such discovery as are allowed under the Florida Rules of
Civil Procedure; (3) the arbitrator shall apply Florida substantive law; (4) at
the election and at the expense of either party, a Court Reporter may record the
hearing and such recording will be the official record of the proceeding; and
(5) the arbitrator shall specify the basis for, and the type of damage award, if
any, entered.

                  D. The arbitrator's authority to order discovery and enter
judgment shall be final and binding. It may be enforced through an order of a
court of competent jurisdiction. Such judgment may be reviewed by a court only
on the grounds of bias, improper conduct of the arbitrator, abuse of discretion,
or violation of public policy. Notwithstanding the foregoing agreement to
arbitrate, either party may apply to any court of competent jurisdiction for
temporary restraining orders, preliminary injunctions, permanent injunctions, or
other extraordinary relief, to remedy any actual or threatened unauthorized
disclosure of confidential information or unauthorized use, copying, marketing,
or distribution of confidential information. Such application shall be made
before the arbitrator is appointed and assumes his or her responsibilities. The
seeking of injunctive relief shall not operate to prejudice the rights of the
parties to arbitrate their disputes.

         16. ATTORNEYS' FEES AND COSTS. If either party fails to perform its
respective obligations under this Agreement, and the other party is thereby
required to incur attorneys' fees or other fees or costs, including but not
limited to the costs of arbitration, the party so incurring such fees and costs
shall be entitled to the payment of those fees and costs by the breaching party.

         17. ENTIRE AGREEMENT. This Agreement supersedes any and all other
agreements, either oral or in writing, between the parties hereto with respect
to the employment of Employee by the Company and contains all of the covenants
and agreements between the parties with respect to that employment in any manner
whatsoever, including but not limited to any employment or royalty agreement
previously entered into by Employee and the Company. Each party to this
Agreement acknowledges that no representations, inducements, promises, or
agreements, oral or written, have been made by any party, or anyone acting on
behalf of any party, which are not embodied herein, and that no other agreement,
statement, or promise not contained in this Agreement shall be valid or binding
on either party.

         18. MODIFICATIONS. Any modification of this Agreement shall be
effective only if it is in writing and signed by both parties.

         19. EFFECT OF WAIVER. The failure of either party to insist on strict
compliance with any of the terms, covenants, or conditions of this Agreement by
the other party shall not be deemed a waiver of that term, covenant, or
condition, nor shall any waiver or relinquishment of any right or power at any
one time or times be deemed a waiver or relinquishment of that right or power
for all or any other times.

         20. PARTIAL INVALIDITY. If any provision of this Agreement is held by a
court of competent jurisdiction to be invalid, void, or unenforceable, the
remaining provisions shall nevertheless continue in full force without being
impaired or invalidated in any way, unless such partial invalidity materially
affects the intent of the parties.

         21. GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of Florida.

                                       10
<PAGE>

         22. ASSIGNABILITY. The rights and duties of either party hereunder
shall not be assignable by either party, except that this Agreement and all
rights and obligations hereunder may be assigned by the Company to, and be
assumed by, any subsidiary of the Company or any corporation or other business
entity which succeeds to all or substantially all of the assets and business of
the Company through merger, consolidation, acquisition of assets, or other
corporate reorganization.

         23. SURVIVAL. The covenants, agreements, representations and warranties
contained in or made pursuant to this Agreement shall survive Employee's
termination of employment.

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

                                                     COMPANY:

                                                     CYGENE, INC.

                                                     By: /s/ Carol Ramberg
                                                         --------------------
                                                     Name: Carol Ramberg
                                                          -------------------
                                                     Title: Secretary
                                                           ------------------

                                                     EMPLOYEE:

                                                     /s/ Martin Munzer
                                                     Martin Munzer

                                       11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]