Document:

Exhibit 4.(iv)

NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF
THE WARRANT ("WARRANT SHARES") HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933 (THE "ACT") NOR UNDER ANY STATE SECURITIES LAW AND MAY NOT BE PLEDGED,
SOLD, ASSIGNED, EXERCISED OR OTHERWISE TRANSFERRED UNTIL (1) A REGISTRATION
STATEMENT UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAW HAS BECOME
EFFECTIVE WITH RESPECT THERETO OR (2) RECEIPT BY THE COMPANY OF AN OPINION OF
COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER THE
ACT OR APPLICABLE STATE SECURITIES LAW.

WWW-                                                   No. of Shares-

                        WARRANT TO PURCHASE COMMON STOCK

                                       OF

                          NEW GENERATION PLASTIC, INC.

         This is to Certify that, FOR VALUE RECEIVED, __________________________
_____________________________________________________________________("Holder"),
is entitled to purchase, subject to the provisions of this Warrant, from New
Generation Plastic, Inc., a Delaware corporation ("Company"), ______________
_______________________________fully paid, validly issued and nonassessable
shares of Common Stock, par value $0.001 per share, of the Company ("Common
Stock") at a price of $12.00 per share at any time or from time to time during
the period beginning on the date that this Warrant first becomes exercisable
(the "Commencement Date"), and ending at 5:00 p.m. New York time on February 24,
2004 (the "Expiration Date"). The shares of Common Stock issuable upon such
exercise are hereinafter sometimes referred to as "Warrant Shares" and the
exercise price of a share of Common Stock is hereinafter sometimes referred to
as the "Exercise Price." This Warrant shall not be exercisable until the Warrant
Shares have been registered under the Securities Act of 1933.

         1. EXERCISE OF WARRANT. This Warrant may be exercised in whole or in
part at any time or from time to time on or after the Commencement Date and
until 5:00 p.m. New York time on the Expiration Date; provided, however, that if
such day is a day on which banking institutions in the State of New York are
authorized by law to close, then on the next succeeding day which shall not be
such a day. This Warrant may be exercised by presentation and surrender of the
original Warrant to the Company at its principal office, or at the office of its
stock transfer agent, if any, with the Purchase Form annexed hereto duly
executed and accompanied by payment, in the form of a certified or cashier's
check, of the Exercise Price for the number of Warrant Shares being purchased,
as specified in such form. As soon as practicable after each such exercise of
this Warrant, but not later than seven (7) days from the date of such exercise,

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the Company shall issue and deliver to the Holder a certificate or certificate
for the Warrant Shares issuable upon such exercise, registered in the name of
the Holder. If this Warrant should be exercised in part only, the Company shall,
upon surrender of this Warrant for cancellation, execute and deliver a new
Warrant evidencing the rights of the Holder thereof to purchase the balance of
the Warrant Shares purchasable thereunder.

         2. RESERVATION OF SHARES. The Company shall at all times reserve for
issuance and delivery upon exercise of this Warrant such number of shares of its
Common Stock as shall be required for issuance and delivery upon exercise in
full of the Warrants.

         3. TRANSFER, ASSIGNMENT OR LOSS OF WARRANT. Upon surrender of this
Warrant to the Company at its principal office or at the office of its stock
transfer agent, if any, with the Assignment Form annexed hereto duly executed
and funds sufficient to pay any transfer tax, the Company shall, without charge,
execute and deliver a new Warrant in the name of the assignee named in such
instrument of assignment and this Warrant shall promptly be canceled. The
Company may deem and treat the registered Holder of this Warrant at any time as
the absolute owner hereof for all purposes and shall not be affected by any
notice to the contrary. This Warrant may be divided or combined with other
warrants which carry the same rights upon presentation hereof at the principal
office of the Company or at the office of its stock transfer agent, if any,
together with a written notice specifying the names and denominations in which
new Warrants are to be issued and signed by the Holder hereof. Upon receipt by
the Company of evidence satisfactory to it of the loss, theft, destruction or
mutilation of this Warrant, and (in the case of loss, theft or destruction) of
reasonably satisfactory indemnification, and upon surrender and cancellation of
this Warrant, if mutilated, the Company will execute and deliver a new Warrant
of like tenor and date. Any such new Warrant executed and delivered shall
constitute an additional contractual obligation on the part of the Company,
whether or not this Warrant so lost, stolen, destroyed, or mutilated shall be at
any time enforceable by anyone.

         4. RIGHTS OF THE HOLDER. No Holder of this Warrant, as such, shall be
entitled to vote, receive dividends, receive notice in respect of meetings of
stockholders or any other matter whatsoever as a stockholder of the Company or
be deemed to be a stockholder of the Company for any purpose, and the rights of
the Holder are limited to those expressed in this Warrant and are not
enforceable against the Company except to the extent set forth herein.

         5. ADJUSTMENT OF WARRANT PRICE AND NUMBER OF WARRANT SHARES. The
Warrant Price and the number of Warrant Shares shall be subject to adjustment
from time to time in accordance with the following provisions:

            (a) In case the Company shall at any time subdivide the outstanding
shares of its Common Stock, the Exercise Price in effect immediately prior to
such subdivision shall be proportionately decreased, and in case the Company
shall at any time combine the outstanding shares of its Common Stock, the
Exercise Price in effect immediately prior to such combination shall be
proportionately increased, effective from and after the record date of such
subdivision or combination, as the case may be. Upon any adjustment in the
Exercise Price per share pursuant to this subparagraph (a), the Holder of this
Warrant shall thereafter be entitled to purchase, at the adjusted Exercise

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Price, the number of shares of Common Stock, calculated to the nearest full
share obtained by (X) multiplying the number of shares of Common Stock
purchasable hereunder immediately prior to such adjustment by the Exercise Price
in effect immediately prior to such adjustment, and (y) by dividing the product
thereof by the Exercise Price resulting from such adjustment.

            (b) In the event of the issuance of additional shares of Common
Stock of the Company as a dividend on the Common Stock, from and after the day
that is the record day for the determination of stockholders entitled to such
dividend the Holder of this Warrant shall (until another adjustment) be entitled
to purchase the number of shares of Common Stock, calculated to the nearest full
share, obtained by multiplying the number of shares of Common Stock purchasable
hereunder immediately prior to said record date by the percentage which the
number of additional shares constituting any such dividend is of the total
number of shares of Common Stock outstanding immediately prior to said record
date plus the number of shares of Common Stock issuable upon conversion of the
outstanding convertible securities or upon exercise of any outstanding warrants,
options or rights (including those with respect to convertible securities) and
adding the result so obtained to the number of shares of Common Stock
purchasable hereunder immediately prior to said record date. Upon each
adjustment pursuant to this subparagraph (b), the Exercise Price in effect
immediately prior to such adjustment shall be reduced to an amount determined by
dividing (X) the product obtained by multiplying such Exercise Price by the
number of shares of Common Stock purchasable hereunder immediately prior to such
adjustment by (Y) the number of shares of Common Stock purchasable hereunder
immediately following such adjustment.

         6. Reorganization, Reclassification, Consolidation or Merger. If at any
time while this Warrant is outstanding there shall be any reorganization or
reclassification of the Common Stock of the Company (other than a subdivision or
combination of shares provided for in paragraph 5 above) or any consolidation or
merger of the Company with another corporation effected in such a way that
holders of Common Stock shall be entitled to receive stock, securities or
property with respect to or in exchange for Common Stock, the Holder of this
Warrant shall thereafter be entitled to receive, during the term hereof and upon
payment of the Exercise Price, the number of shares of stock or other securities
or property of the Company or of the successor corporation resulting from such
consolidation or merger, as the case may be, to which a holder of the Common
Stock of the Company deliverable upon the exercise of this Warrant, would have
been entitled upon such reorganization, reclassification, consolidation or
merger if this Warrant had been exercised immediately prior to such
reorganization, reclassification, consolidation or merger; and in any such case,
appropriate adjustment (as determined in good faith by the Board of Directors of
the Company) shall be made in the application of the provisions herein set forth
with respect to the rights and interest thereafter of the Holder of this Warrant
to the end that the provisions set forth herein (including the adjustment of the
Exercise Price and the number of shares issuable upon the exercise of this
Warrant) shall thereafter be applicable, as near as reasonably may be, in
relation to any shares or other property thereafter deliverable upon the
exercise hereof.

         7. Charges, Taxes and Expenses. The issuance of certificates for shares
of Common Stock upon any exercise of this Warrant shall be made without charge
to the Holder hereof for any tax or other expense in respect to the issuance of
such certificates, all of which taxes and expenses shall be paid by the Company,
and such certificates shall be issued in the name of, or in such name or names

                                      -3-
<PAGE>

as may be directed by, the Holder of this Warrant; provided, however, that in
the event that certificates for shares of Common Stock are to be issued in a
name other than the name of the Holder of this Warrant, this Warrant when
surrendered for exercise shall be accompanied by an instrument of transfer in
form satisfactory to the Company, duly executed by the Holder hereof in person
or by an attorney duly authorized in writing and the Holder shall pay all stock
transfer taxes payable upon issuance of such stock certificate.

         8. MISCELLANEOUS.

            (a) The terms of this Warrant shall be binding upon and shall inure
to the benefit of any successors or assigns of the Company and of the Holder or
Holders hereof.

            (b) Notwithstanding any provision herein to the contrary, the Holder
hereof may not sell, transfer or otherwise assign this Warrant unless the
Company is provided with an opinion of counsel satisfactory in form and
substance to the Company, to the effect that such sale, transfer or assignment
does not violate the Securities Act of 1933 or any applicable state securities
laws.

            (c) This Warrant contains the entire agreement between the Holder
hereof and the Company with respect to the purchase of shares of Common Stock of
the Company and supersedes all prior arrangements or understandings with respect
thereto.

            (d) This Warrant shall be governed by and construed in accordance
with the laws of the State of Delaware.

            (e) Any term or provision of this Warrant may be waived at any time
by the party which is entitled to the benefits thereof and any term or
provisions of this Warrant may be amended or supplemented at any time by
agreement of the Holder of this Warrant and the Company, except that any waiver
of any term or condition, or any amendment or supplementation, of this Warrant
must be in writing. A waiver of any breach of failure to enforce any of the
terms or conditions of this Warrant shall not in any way affect, limit or waive
a party's rights hereunder at any time to enforce strict compliance thereafter
with any term or condition of this Warrant.

            (f) Any notice or other document required or permitted to be given
or delivered to the Holder of this Warrant shall be delivered personally, or
sent by certified or registered mail, to each such Holder at the last address
shown on the books of the Company for the registration of, and the registration
of transfer of, the Warrant or at any more recent address of which the Holder of
this Warrant shall have notified the Company in writing. Any notice or other
document required or permitted to be given or delivered to the Company, shall be
delivered personally at, or sent by certified or registered mail to, the office
of the Company at 245 Park Avenue, 39th Floor, New York, New York 10167,
Attention: Executive Vice President, or such other address as shall have been
furnished by the Company to the Holder of the Warrant.

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<PAGE>

                  IN WITNESS WHEREOF, the Company has caused this Warrant to be
signed by its duly authorized officers and its corporate seal to be affixed
hereto.

Dated:

[SEAL]

                                            NEW GENERATION PLASTIC, INC.
Attest:

/s/ Thomas R. Marshall                      By: /s/ Jacques Mot
--------------------------------                --------------------------------
Thomas R. Marshall                              Jacques Mot, Chairman
Secretary

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<PAGE>

                                  PURCHASE FORM
                                  -------------

         The undersigned, the holder of the foregoing Warrant, hereby elects to
exercise purchase rights represented by said Warrant for, and to purchase
thereunder, ________ shares of the Common Stock covered by said Warrant and
herewith makes payment in full therefor of $_______ by certified or cashier's
check payable to the order of the Company, and requests (a) that certificates
for such shares (and any securities or other property issuable upon such
exercise) be issued in the name of and delivered to ______________ whose address
is _________________________________ and (b) if such shares shall not include
all of the shares issuable as provided in said Warrant, that a new Warrant of
like tenor and date for the balance of the shares issuable thereunder be
delivered to the undersigned or that appropriate notation be made on the Warrant
which shall be returned to the undersigned.

                                                --------------------------------

Dated:

Signature Guaranteed:
                                            Signature Guaranteed:

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<PAGE>

                                 ASSIGNMENT FORM
                                 ---------------

         FOR VALUE RECEIVED,____________________________________ hereby sells,
assigns and transfers unto:

Name_________________________________________________________________________
    (Please type or print in block letters)

Address_______________________________________________________________________,

the right to purchase Common Stock represented by this Warrant to the extent of
__________ shares of Common Stock as to which such right is exercisable and does
hereby irrevocably constitute and appoint_______________________________________
________________________ Attorney, to transfer the same on the books of the
Company with full power of substitution in the premises.

Date____________________

Signature________________________________________

                                      -7-Exhibit 10.(i)

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT, made and entered into as of the 25th day of January,
2000, by and between New Generation Plastic, Inc., a Delaware corporation
("NGP") and Paul Hokfelt (the "Executive");

                               W I T N E S S E T H

         WHEREAS, NGP proposes to employ the Executive in the operations of NGP
and NGP is desirous of affording Executive incentives in connection therewith;

NOW, THEREFORE, in consideration of the mutual covenants contained herein and
other good and valuable consideration, NGP and Executive hereby agree as
follows:

                                    ARTICLE I
                                   EMPLOYMENT

         Section 1.1. Employment. NGP hereby employs the Executive as Chief
Executive Officer of NGP to perform such duties and discharge such functions in
and about the business and affairs of NGP and the Affiliated Corporations as the
board of directors of NGP may from time to time determine. Executive agrees,
during the term hereof, to diligently and in good faith perform and discharge
such duties and functions and Executive shall devote all of his working time,
energy and ability exclusively to the performance of his duties hereunder.
During the term hereof, Executive shall not directly or indirectly engage or
participate in the operations or management of, or render any services to, any
other businesses or enterprises.

         Section 1.2. Basic Compensation. NGP agrees to pay Executive an initial
base annual salary of 240,000 CHF through the December 31, 1999 and for the
balance of the term of this Agreement an increased amount as may be mutually
agreed to by the parties from time to time. Basic compensation payable under
this Section 1.2 shall be payable monthly in accordance with such practices and
procedures that are generally applicable to other employees of NGP. In
consideration of the Executive giving notice to his current employer, NGP has
prior to the date of such notice caused a bank draft to be delivered to the
Executive in the amount of US$100,000 (the "Security Amount"). The Security
Amount is intended to be a prepayment of the first six (6) months of: (i) the
base annual salary payable under this Section 1.2 and the fringe benefits
afforded under Section 1.4, provided that if the Executive's employment
hereunder does not extend beyond said six (6) month period the Executive is
under no obligation to return any of the Security Amount. In view of the
foregoing, the next monthly payment of base annual salary shall be paid in the
seventh month of the Executive's employment.

         Section 1.3. Expense Reimbursement. NGP shall reimburse reasonable and
necessary out-of-pocket business expenses, such as travel, lodging, long
distance telephone calls and the like, consistent with the policies that may
promulgated from time to time for NGP's senior executives upon submission by
Executive of appropriate receipts therefor. Notwithstanding the foregoing, NGP
shall reimburse the Executive for his reasonable moving expenses from his
current principal residence to a new principal residence in Switzerland.

         Section 1.4. Fringe Benefits. While Executive is in the employ of NGP,
NGP agrees to provide to Executive those benefits generally provided to all
salaried employees of NGP (with the exception of life insurance benefits), and

<PAGE>

in addition NGP shall provide the Executive with private health insurance
coverage for he and his family in Switzerland, long term disability coverage and
at least $1,500,000 coverage under an individual life insurance policy or
policies. NGP acknowledges the Executives desire to continue his private pension
arrangements in the United Kingdom and agrees that the complimentary portion of
his pension benefits may be paid into that plan. Such benefits shall include
payment by NGP on behalf of the Executive of leased car expenses plus payment of
insurance, maintenance, cost of repairs and gas as are mutually agreed by the
parties. Such additional car expense payment will be made on a monthly basis,
unless NGP and the Executive otherwise agree.

         NGP intends to adopt a Stock Option Plan (the "Option Plan") for
selected employees, directors and consultants of NGP and the Affiliated
Corporations. An award under the Option Plan, when adopted, will be extended to
the Executive in an amount commensurate with his position as Chief Executive
Officer and shall be in addition to the basic compensation and bonus payable
under Sections 1.2 and 1.6 hereof, respectively. Further, it is the intention of
the Company and the Board of Directors that the Executive be afforded the
opportunity, based on specific performance goals to be determined by the Board
of Directors and the Executive, to be awarded options under the Option Plan to
purchase stock constituting up to 4% of the total equity of the Company on a
fully diluted basis.

         Section 1.5. Severance. If NGP terminates the employment of the
Executive without Cause at any time during the Initial Term (as defined herein)
or any Renewal Term, NGP shall continue to pay to the Executive: (1) basic
compensation as set forth in Section 1.2 hereof for the remainder of the Initial
Term or Renewal Term as the case may be or until the Executive's earlier death
or Disability (as defined herein), (2) notwithstanding any contrary provision
contained in any formal written bonus plan which may be adopted by the Board of
Directors, any bonus thereunder shall be pro-rated to the date of termination,
and (3) the Fringe Benefits described in 1.4 above for the remainder of the term
of this Agreement or until the Executive's earlier death. Items 1, 2 and 3 above
are collectively referred to as "Severance". Also, should the Executive become
Disabled during a period when he is entitled to receive the Severance described
in paragraph (1) above (basic compensation) and he is covered by a long-term
disability plan of NGP or an Affiliated Corporation and determined to be
entitled to coverage under such plan, then and in that event he will receive
disability payments under that plan in lieu of any further payments under
paragraph (1) above. It is agreed that any termination of employment by NGP is
without prejudice to any other remedy to which NGP may be entitled, either by
law, in equity or under this Agreement. The Severance described above shall
represent liquidated damages and shall mitigate damages (if any), which may
otherwise be payable to the Executive.

         NGP has the absolute right to terminate this Agreement, and the
employment of the Executive hereunder, for Cause without any further obligation
to the Executive in respect of the Severance to the Executive hereunder. For
purposes of this Agreement, for Cause includes, but is not limited to any of the
following:

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         (i)      Executive's material breach of the terms of this Agreement or
                  any other material legal obligation to NGP or an Affiliated
                  Corporation;

         (ii)     Executive's fraud, dishonesty, gross negligence, willful
                  misconduct or other deliberate action which causes injury to
                  NGP or any of its Affiliated Corporations or to their
                  respective reputations or which results in a material loss to
                  NGP or an Affiliated Corporation; or an act of the Executive
                  involving moral turpitude or a serious crime resulting in a
                  conviction by a court or tribunal of competent jurisdiction or
                  a plea of "nolo contendere"; or

         (iii)    willful breach in the performance by Executive of his material
                  duties hereunder resulting in demonstrable economic harm to
                  NGP or an Affiliated Corporation and which Executive shall not
                  have taken steps in good faith to cure within ninety (90) days
                  after notice from the Board of Directors; provided, however,
                  that it is understood and agreed that failure to meet the
                  business plan of NGP alone or errors in judgment made by
                  Executive in good faith shall not constitute Cause hereunder.

         The Executive shall not be entitled to Severance under this Section 1.5
if the employment of the Executive is terminated for any of the following
reasons:

         (i)      the Executive terminates this Agreement at any time;

         (ii)     death of the Executive; provided, however, that in the
                  event of his death being the cause of his termination, the
                  Executive's estate will receive the payments described in
                  paragraph (2) (target bonus) of Section 1.5 above;

         (iii)    the Disability of the Executive; provided, however, that
                  in the event of his Disability being the cause of his
                  termination, Executive will receive the items described in
                  paragraphs (2)(target bonus) and (3)(Fringe Benefits) of
                  Section 1.5 above; or

         (iv)     the Executive is terminated for Cause as described above.

         Section 1.6. Bonus. NGP intends to adopt a formal written bonus program
for certain of its executives including the Executive. Any awards under such
written bonus program will be in addition to the basic compensation payable
under Section 1.2 hereof. NGP reserves the absolute right to adopt, amend,
replace or terminate, from time to time, any such written bonus program and to
determine the extent of its application, all without any liability to the
Executive. The bonus, if any, payable under this Section 1.6 shall be paid in
accordance with the terms of the formal written bonus program, if any, adopted
by NGP.

         Section 1.7. Term. It is the intention of the parties that the
Executive's employment under this Agreement commence as soon as practicable
after the execution hereof, however the parties have agreed that the Executive
may begin employment within one hundred eighty (180) days after the date hereof.
The term of this Agreement shall be deemed to commence on the date that the
Executive is actually available to begin his employment (herein called the

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<PAGE>

"Effective Date") and continue through the third anniversary of the Effective
Date (the "Initial Term"), provided, however, that Executive shall have the
continuing option to immediately terminate the employment provided by this
Agreement by giving one hundred eighty (180) days written notice thereof to NGP
and NGP shall have the continuing option to immediately terminate the employment
provided by Section 1.1 hereof by giving written notice thereof to Executive
which notice may be effective immediately. Upon any such termination, all of the
rights and obligations set forth in this Article I shall terminate provided,
only, that NGP shall pay to Executive the Severance, if any, payable under
Section 1.5 hereof.

         Section 1.8. Renewal Term. Unless NGP shall notify the Executive in a
writing received at least one hundred eighty (180) days prior to the end of the
Initial Term indicating that NGP has elected not to extend the term of this
Agreement, the term of this Agreement shall be automatically extended for one
(1) year. Thereafter, a successive Renewal Term shall automatically commence
immediately after the expiration of each Renewal Term, unless NGP shall notify
the Executive in a writing received at least one hundred eighty (180) days prior
to the end of the then existing Renewal Term indicating that NGP has elected not
to extend the term of this Agreement.

         Section 1.9  Change of Control.

         a. Change in Control or Ownership. Change in Control or Ownership
means:

                  i.       An acquisition by any "person" or "group" (as those
                           terms are defined or used in Section 13(d) of the
                           Securities Exchange Act of 1934, as amended (the
                           "Exchange Act") of "beneficial ownership" (within the
                           meaning of Rule 13d-3 under the Exchange Act, as
                           enacted and in force on the date hereof) of
                           securities of NGP representing more than 50% of the
                           combined voting power of NGP's securities then
                           outstanding;

                  ii.      A merger, consolidation or other reorganization of
                           NGP, except where the resulting entity is controlled,
                           direct or indirectly, by NGP;

                  iii.     A merger, consolidation or other reorganization of
                           NGP, except where shareholders of NGP immediately
                           prior to consummation of any such transaction
                           continue to hold at least a majority of the voting
                           power of the outstanding voting securities of the
                           legal entity resulting from or existing after any
                           transaction and a majority of the members of the
                           Board of Directors of the legal entity resulting from
                           or existing after a transaction are former members of
                           NGP's Board of Directors;

                  iv.      A sale, exchange, transfer or other disposition of
                           substantially all of the assets of NGP to another
                           entity, except to an entity controlled, directly or
                           indirectly, by NGP;

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<PAGE>

                  v.       A sale, exchange, transfer or other disposition of
                           substantially all of the assets of NGP to another
                           entity, or a corporate division involving NGP; or

                  vi.      A contested proxy solicitation of NGP's shareholders
                           that results in the contesting party obtaining the
                           ability to cast 50% or more of the votes entitled to
                           be cast in an election of directors of NGP.

         b.       Resignation of Executive. If a Change in Control or Ownership
shall occur and if thereafter, at any time, there shall be:

                  i.       Any involuntary termination of the Executive's
                           employment (other than for Cause, death or
                           Disability);

                  ii.      Any reduction in the Executive's title,
                           responsibilities, including reporting
                           responsibilities, or authority, including title,
                           responsibilities or authority as it may be increased
                           from time to time;

                  iii.     The assignment to the Executive of duties
                           inconsistent with the Executive's office immediately
                           prior to a Change in Control or Ownership or as the
                           same may be increased from time to time after a
                           change in Control or Ownership;

                  iv.      Any reassignment of the Executive to a location
                           farther than a one hour commute by automobile from
                           his primary workplace immediately prior to the Change
                           in Control or Ownership;

                  v.       Any reduction in the Executive's annual base salary
                           in effect immediately prior to a Change in Control or
                           Ownership or as the same may be increased from time
                           to time after a Change in Control or Ownership;

                  vi.      Any failure to continue the Executive's
                           participation, on substantially similar terms, in any
                           of the incentive compensation or bonus plans of NGP
                           or an affiliate in which the Executive participated
                           at the time of the Change in Control or Ownership or
                           any change or amendment to any of the substantive
                           provisions of any of such plans which would
                           materially decrease the potential benefits to the
                           Executive under any of these plans;

                  vii.     Any failure to provide the Executive with benefits at
                           least as favorable as those enjoyed by the Executive
                           under any of the pension, life insurance, medical,
                           health and accident, disability or other employee
                           plans of NGP or an affiliate in which the Executive
                           participated immediately prior to a Change in Control
                           or Ownership, or the taking of any action that would
                           materially reduce any of such benefits in effect at
                           the time of the Change in Control or Ownership,
                           unless this reduction relates to a reduction in
                           benefits applicable to all employees generally;

                                       5
<PAGE>

                  viii.    Any requirement that the Executive travel in
                           performance of his duties on behalf of NGP or an
                           affiliate for a greater period of time during any
                           year than was required of the Executive during the
                           year preceding the year in which the Change in
                           Control or Ownership occurred;

                  ix.      Any failure of NGP's Board of Directors to nominate
                           the Executive for election as a member of NGP's Board
                           of Directors, as the case may be, at the expiration
                           of the Executive's then existing term;

                  x.       Any sustained pattern of interruption or disruption
                           of the Executive for matters substantially unrelated
                           to the Executive's performance of the Executive's
                           duties on behalf of NGP or an affiliate; or

                  xi.      Any breach of this Agreement of any nature whatsoever
                           on the part of NGP;

then, at the option of the Executive, exercisable by the Executive within one
hundred eighty (180) days of the occurrence of each and every of the foregoing
events, the Executive may resign from employment (or, if involuntarily
terminated, give notice of intention to collect benefits hereunder) by
delivering a notice in writing (the "Notice of Termination") to NGP, and the
Continuing Compensation and Benefits' provisions of this Agreement shall apply.

         c.       Continuing Compensation and Benefits.

                  i.       (a) If, at the time of termination of the Executive's
                           employment in accordance with Section 1.9(b) hereof,
                           a Tax Change has also occurred, NGP shall make a
                           lump-sum cash payment to the Executive no later than
                           thirty (30) days following the date of such
                           termination in an amount ("X") determined pursuant to
                           the following formula: X=(2.99A - B) x (1+C). For the
                           purpose of the foregoing formula,

                           A =   The Executive's base amount (determined
                                 pursuant to Internal Revenue Code Section
                                 280G(b)(3)(A)) on the date of the Tax Change;

                           B =   The present value of all other amounts which
                                 qualify as parachute payments under Internal
                                 Revenue Code Section 280G(b)(2)(A) or (B)
                                 (without regard to the provisions of Code
                                 Section 280G(b)(2)(A)(ii)), such present value
                                 to be determined pursuant to the provisions of
                                 Internal Revenue Code Section 280G; and

                           C =   120% times 0.5 times the lowest of the
                                 semiannual applicable federal rates (determined
                                 pursuant to Internal Revenue Code Section
                                 1274(d)) in effect on the date of the Tax
                                 Change.

                                       6
<PAGE>

                           Notwithstanding the foregoing or any other provision
                           of this Agreement to the contrary, if the amount
                           determined under "B" above equals or exceeds 2.99
                           times the amount determined under "A" above, no
                           payment shall be made to the Executive under this
                           Section.

                           (b) If, at the time of termination of the Executive's
                           employment in accordance with Section 1.9(b) hereof,
                           a Tax Change has not occurred, NGP shall make a
                           lump-sum cash payment to the Executive no later than
                           thirty (30) days following the date of such
                           termination in an amount equal to (A) 2.99 times the
                           lesser of (I) the Executive's base amount determined
                           pursuant to the principles set forth in the
                           regulations promulgated under Code Section
                           280G(b)(3)(A) and as though a Tax Change has occurred
                           on the date of the Executive's termination of
                           employment and (II) the Executive's base amount so
                           determined but as though a Tax Change will occur in
                           the calendar year following the date of the
                           Executive's termination of employment, minus (B) any
                           other amount paid or payable within thirty (30) days
                           following the Executive's termination of employment
                           which would constitute (or be presumed to constitute)
                           parachute payments under Code Section 280G(b)(2)(A)
                           or (B) (without regard to the provisions of Code
                           Section 280G(b)(2)(A)(ii)) if a Tax Change had
                           occurred on the date of such termination of
                           employment.

                  ii.      The Executive shall not be required to mitigate the
                           amount of any payment provided for in Section
                           1.9(c)(i) by seeking other employment or otherwise,
                           nor shall the amount of any payment or benefit
                           provided for in Section 1.9(c)(i) be reduced by any
                           compensation earned by the Executive as the result of
                           employment by another employer or by reason of the
                           Executive's receipt of or right to receive any
                           retirement or other benefits after the date of
                           termination of employment or otherwise, except as
                           otherwise provided therein.

                  iii.     Upon written request of the Executive, NGP's
                           obligation to make the payment under this Section
                           shall be secured in total (i) by a standby letter of
                           credit obtained by NGP from a recognized financial
                           institution the long-term obligations of which are
                           rated, on the date of the request, investment grade
                           or better by Standard & Poor's Corporation or Moody's
                           Investors Service, Inc. or (ii) by other security as
                           the Executive shall approve, obtained within ten (10)
                           days of the Executive's written request following a
                           Change in Control or Ownership.

                  iv.      NGP shall pay all reasonable legal fees and related
                           expenses (including the costs of experts, evidence
                           and counsel and expenses included in connection with

                                       7
<PAGE>

                           an arbitration or in other litigation or appeal)
                           incurred by the Executive as a result of (i)(a) his
                           delivery of a Notice of Termination or (i)(b) his
                           seeking to obtain or enforce any right or benefit
                           provided by this Agreement.

         Section 1.10 Place of Employment. The performance of Executive's duties
hereunder will require travel and will include involvement with businesses and
projects away from home.

                                   ARTICLE II
                   NON-DISCLOSURE OF CONFIDENTIAL INFORMATION
                              AND NON-COMPETITION.

         Section 2.1 Non-Disclosure of Confidential Information. (a) The
Executive acknowledges that it is the policy of NGP to maintain as secret and
confidential all information heretofore or hereafter acquired, developed or used
by NGP or any Affiliated Corporation relating to its business, operations,
employees and customers (all such information is hereinafter referred to as
"Confidential Information"). The parties hereto recognize that the Executive's
services are special and unique, and that by reason of the employment the
Executive has acquired and will acquire Confidential Information. Confidential
Information shall not include any information which (1) is or becomes generally
available to the public other than as a result of a disclosure by Executive, (2)
is in the possession of Executive prior to the date of rendering any services to
NGP and was not received directly or indirectly from NGP, or (3) is
independently developed by Executive without the use of information received
directly or indirectly from NGP or revealed pursuant to this Agreement.
Executive recognizes that all such Confidential Information is the property of
NGP.

         (b) In consideration of the Executive's employment by NGP pursuant to
this Agreement, the Executive agrees that:

                  (1) except as required by the duties of his employment,
                  without the prior written consent of NGP, the Executive shall
                  never, directly or indirectly, either during or after the term
                  of this Agreement, use, publish, disseminate or otherwise
                  disclose in any manner any Confidential Information obtained
                  during his employment with NGP or any Affiliated Corporation;
                  and

                  (2) both during and after the term of this Agreement , the
                  Executive shall exercise all due and diligent precautions to
                  protect the integrity of the business plans, customer lists,
                  statistical data and compilations, agreements, contracts,
                  memoranda, manuals, trade secrets or other documents and
                  materials of NGP and any Affiliated Corporation which embody
                  any Confidential Information, and upon either the termination
                  of the Executive's employment or expiration of the term of
                  this Agreement, the Executive shall return to NGP all such
                  documents or materials, including any computer encoded
                  material (and copies thereof) which are in the possession or

                                       8
<PAGE>

                  under the control of the Executive. The Executive agrees that
                  the provisions of this Section 2.1 are reasonably necessary to
                  protect the proprietary rights of NGP in the Confidential
                  Information and its trade secrets, good will and reputation;

provided, however, the foregoing shall not prevent Executive from responding to
a valid subpoena of a governmental agency or to a valid court order or as
otherwise required by law.

         2.2 Non-Competition. Executive hereby covenants that, for a period of
twelve months next following the date of termination of his employment (except
if such termination occurs as a result of the expiration of the Initial Term or
a renewal term thereof), Executive shall not be engaged or interested (whether
as a proprietor, partner with another, shareholder, agent or consultant of,
employee of or lender to, another) in any business which competes, directly or
indirectly, with the businesses of NGP or any business of an Affiliated
Corporation; provided that if the employment of Executive is terminated by NGP
without Cause, the foregoing covenant shall not apply (without affecting the
obligations hereinafter contained in this Section 2.1 in respect of disclosures
or solicitations by Executive) unless the Executive shall have been paid
Severance pursuant to Section 1.5 hereof, in which event the covenant period
shall continue for the period that Severance is paid.

         For a period of one year following the date of termination of his
employment, Executive agrees not to offer employment to, not to initiate
discussions of the nature of any prospective employment opportunities with, and
not to otherwise solicit any director, officer or employee of NGP or any
Affiliated Corporation (or any person who was an employee of NGP or any
Affiliated Corporation within 180 days of the date of Executive's termination of
employment) on his own behalf, on behalf of any employer of the Executive, on
behalf of any entity with which the Executive is acting as a consultant or with
which the Executive is then otherwise affiliated.

         The provisions of this Article II shall survive the termination of the
employment hereunder or expiration of the term of this Agreement.

         2.3 NGP's Right to Injunctive Relief. The Executive acknowledges that
his services are of a unique character which gives them a special value to NGP.
The Executive further acknowledges that any breach or threatened breach by the
Executive of any of the provisions of this Article II will result in irreparable
and continued harm to NGP and its Affiliated Corporations for which NGP and its
Affiliated Corporations would have no adequate remedy at law. Therefore, in
addition to any other remedy which NGP may have at law or in equity, NGP shall
be entitled to injunctive relief or other equitable remedies in the event of any
such breach or threatened breach. The provisions of this Article II shall
survive the termination of the Employment or the expiration of the term of this
Agreement.

         2.4 Invalidity of Covenants. The parties acknowledge that the laws and
public policies of the State of Delaware and various other states of the United
States may differ as to the validity and enforceability of the covenants
contained in this Article II. It is the intention of the parties that activities
of the Executive be restricted only to the extent necessary for the protection
of legitimate business interests of NGP, that the provisions of this Agreement

                                       9
<PAGE>

shall, to the fullest extent permissible under law and public policy, be
enforced by the courts and construed under the laws of the State of Delaware,
and that any part of Article II adjudicated to be invalid or unenforceable shall
not affect the validity or enforceability of any other part of Article II or
this Agreement. Accordingly, if any part of Article II shall be adjudicated to
be invalid or unenforceable in any action or proceeding in which the Executive,
or the Executive's heirs, executors or administrators and NGP, its successors or
assigns, are parties, either in its entirety or as modified as to duration,
territory or otherwise, then such part shall be deemed to be amended so as to be
enforceable or, if required, deleted from this Agreement, as the case may be, in
order to render the remainder of Article II valid and enforceable.

                                   ARTICLE III
                       DEFINITIONS AND GENERAL PROVISIONS

         Section 3.1. Definitions. As used in this Agreement, the following
terms shall have the respective meanings set forth below:

         Affiliated Corporation: "Affiliate Corporation" or "Affiliate" shall
         mean any corporation or other entity, that directly or indirectly,
         through one or more intermediaries, is controlled by NGP.

         Disability: Disability shall mean Total Disability as defined in the
         NGP long-term disability plan which currently provides that "Total
         Disability" means "the inability of the Participant to perform the
         normal duties of his or her regular occupation, except that if benefits
         have been paid for twenty-four (24) months of any continuous
         disability, then for the balance of the period of disability after such
         twenty-four (24) months, the inability of the Participant to perform
         any and every duty of any gainful occupation for which he or she is
         reasonably fitted by training, education, or experience", or as defined
         by any substitute plan which provides long-term disability coverage for
         the Executive, or in the event that the executive is not covered by
         such a plan, Disability shall mean: the physical or mental incapacity
         of Executive for a period of more than one hundred twenty (120)
         consecutive days, the determination of which by the board of directors
         of NGP shall be conclusive on the parties hereto.

         Parent: Any person, corporation or other entity which holds in excess
         of 50% of the issued and outstanding equity securities of NGP.

         Section 3.2. Withholding Taxes. NGP may withhold from any payment to be
made under this Agreement (and transmit to the proper taxing authority) such
amount as it may be required to withhold under any applicable law.

                                       10
<PAGE>

         Section 3.3. Administration. The Board of Directors and NGP's executive
officers, except the Executive, shall have full power to interpret, construe and
administer this Agreement, including authority to determine any dispute or claim
with respect thereto. The determination of NGP in any matter, made in good
faith, shall be binding and conclusive upon Executive and all other persons
having any right or benefit hereunder.

         Section 3.4. Notices. All notices, requests and other communications
from any of the parties hereto to the other shall be in writing and shall be
considered to have been duly given or served when personally delivered to any
individual party, an executive officer of any corporate party, or on the first
day after the date of deposit with Federal Express or other overnight courier
for next day delivery, postage prepaid, or on the third day after deposit in the
United States mail, certified or registered, return receipt requested, postage
prepaid, or on the date of telecopy, fax or similar telephonic transmission
during normal business hours, provided that the recipient has specifically
acknowledged by telephone receipt of such telecopy, fax or telephonic
transmission; addressed, in all cases, to the party at his or its address set
forth below, such other address as such party may hereafter designate by written
notice to the other party:

         (i)      If to NGP to:

                           Mr. Jacques Mot
                           New Generation Plastic, Inc.
                           245 Park Avenue, 39th Floor
                           New York, NY  10167
                           FACSIMILE 212 986-0272

         (ii)     If to Executive to:

                           Paul Hokfelt
                           [Address]

         Section 3.5. Binding Effect. Except as provided herein, the provisions
of this Agreement shall not give Executive any rights to continue to be employed
or otherwise retained by NGP or any Affiliated Corporation. Except as so
provided, this Agreement shall be binding upon and inure to the benefit of the
parties hereto, the respective successors and assigns of NGP and the
beneficiaries, personal representatives and heirs of Executive. NGP may assign
this Agreement to any subsidiary or Affiliate of NGP so long as the Executive's
duties and principal business location shall not differ substantially from those
set forth in this Agreement.

         Section 3.6. Controlling Law. This Agreement shall be construed, and
the legal relations between the parties determined, in accordance with the laws
of the State of Delaware.

                                       11
<PAGE>

         Section 3.7. Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall be deemed to be an original without the
production of the others, but all of which together shall constitute one and the
same instrument.

         Section 3.8. Entire Agreement. This Agreement contains the entire
understanding of the parties with respect to the subject matter hereof and may
not be varied, modified or amended except by a writing signed by the parties to
be charged. The making, execution and delivery of this Agreement by the parties
hereto have been induced by no representations, statements, warranties or
agreements of the other except those herein expressed.

         Section 3.9. Heading. The division of this Agreement into sections and
paragraphs and the titles assigned thereto is only a matter of convenience for
reference and shall not define or limit any of the terms or provisions thereof.

         IN WITNESS WHEREOF, the individual party has hereunto set his hand and
the corporate party has caused these presents to be executed by a proper officer
thereunto duly authorized all as of the day and year first above written.

                                     New Generation Plastic, Inc.

                                     By: /s/ Jacques Mot
                                         ---------------------------------------
                                         Jacques Mot
                                         (Chairman)

                                         /s/ Paul Hokfelt
                                         ---------------------------------------
                                         Paul Hokfelt

                                       12

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