Document:

<PAGE>   1

                                  EXHIBIT 10.3

                              HISPANIC EXPRESS INC.

                    EXECUTIVE DEFERRED SALARY AND BONUS PLAN

<PAGE>   2

                             HISPANIC EXPRESS, INC.

                    EXECUTIVE DEFERRED SALARY AND BONUS PLAN

                           EFFECTIVE SEPTEMBER 6, 2000

<PAGE>   3

                             HISPANIC EXPRESS, INC.

                    EXECUTIVE DEFERRED SALARY AND BONUS PLAN

1.      Purpose. The purpose of the Plan is to attract competent officers and
        key executives by offering flexible compensation opportunities; to
        motivate these executives to promote the growth and profitability of the
        Company; and to associate the interests of these executives with those
        of the Company.

2.      Definitions. When used in this Plan, unless the context otherwise
        requires:

        (a)    "Account" shall mean the record maintained by the Company
               reflecting Executive's Deferred Amounts and the interest credited
               thereon, as provided for in this Plan.

        (b)    "Account Balance" shall mean at any time the total of the amounts
               credited to the Executive's Account and any accrued but not
               credited interest in accordance with the provisions of the Plan.

        (c)    "Board of Directors" shall mean the Board of Directors of
               Hispanic Express, Inc.

        (d)    "Bonus" shall mean, at any time, the gross amount of the bonus
               payable to the Executive under the Company's Executive Incentive
               Bonus Program (or any other similar bonus program hereafter
               established by the Company), before giving effect to any deferral
               agreement hereunder.

        (e)    "Committee" shall mean the Compensation Committee appointed by
               the Board of Directors.

        (f)    "Company" shall mean Hispanic Express, Inc.

        (g)    "Deferred Amount" shall mean the amount by which the Salary
               and/or Bonus is reduced from time to time as agreed upon by the
               Executive and the Company and deferred in accordance with the
               terms of the Plan. The Deferred Amount may be a dollar amount or
               a percentage of Salary and/or Bonus.

        (h)    "Employee" shall mean any person (including an officer) actively
               employed by the Company on a full-time, salaried basis.

        (i)    "Employed" or "Employment" shall mean performing services as an
               employee on a full time basis for the Company.

        (j)    "Executive" shall mean an Employee who is an officer or key
               executive of the Company Employed in a high-ranking executive or
               managerial capacity.

        (k)    "Participant" shall mean an Executive selected by the Committee
               and whose participation in the Plan for a calendar year has been
               approved.

<PAGE>   4

        (l)    "Plan" shall mean this Executive Deferred Salary and Bonus Plan,
               as from time to time amended and in effect.

        (m)    "Salary" shall mean, at any time, the gross amount of base
               compensation being paid to the Executive for Employment, before
               giving effect to any deferral agreement hereunder.

3.      Administration. The Plan shall be administered by the Committee, which
        shall have full and discretionary authority to interpret the Plan, to
        establish rules and regulations relating to the Plan, to determine the
        criteria for eligibility to participate in the Plan, to select
        Participants in the Plan, and to make all other determinations and take
        all other actions necessary or appropriate for the proper administration
        of the Plan. The Committee's interpretation of the Plan, and all actions
        taken within the scope of its authority, shall be final and binding on
        the Company, its stockholders, Participants, Employees, former Employees
        and beneficiaries.

4.      Eligibility and Participation. Participation in the Plan for a calendar
        year (and for the period beginning on the effective date of the Plan and
        ending December 31, of each year the Plan is in existence), shall be
        limited to those key Executives whom the Committee shall select, on the
        basis of such Executive's impact on the long-term success of the
        Company, and who might benefit from the deferral of amounts otherwise
        constituting current compensation.

5.      Deferral of Salary and/or Bonus. A Participant may, subject to the terms
        and conditions of this Plan, elect to defer payment of a maximum of 50%
        of Salary, and/or a maximum of 100% of Bonus, annually under this Plan
        by completing the form prescribed by the Committee. The form shall
        constitute an agreement between the Company and the Employee as to the
        amount of Salary and/or Bonus to be deferred pursuant to the Plan. The
        Committee may further limit deferral by individual Participants, for any
        reason it deems advisable.

        (a)    Election. An election to defer Salary shall be made on or before
               the last regular working day of the Company of the calendar year
               preceding the calendar year for which the Salary and/or Bonus
               agreement is to be made and shall be effective upon delivery (or
               in the event the form is mailed by certified mail, return receipt
               requested, on the date of mailing) of the deferral form to the
               Company. Notwithstanding the preceding sentence, in the calendar
               year in which this Plan is initially adopted and in the case of
               an individual who becomes an Executive during a calendar year, a
               Participant's election to defer Salary that would otherwise be
               payable after the date of the election, and/or all or a portion
               of the Bonus payable with respect to the period after the date of
               the election, may be made up to 30 days after the effective date
               of the Plan or the individual becomes an Executive and eligible
               to participate herein, whichever is applicable. The election made
               to reduce Salary and/or Bonus by a Participant must remain in
               effect for an entire calendar year (or, in the case of the
               calendar year in which this Plan is adopted or the calendar year
               in which an individual becomes an Executive,

<PAGE>   5

               the remaining portion of such calendar year to which the deferral
               election relates) and may not be changed by any action taken by
               the Participant thereafter.

6.      Executive Deferred Amounts. The Participant, after making the election
        under 5(a) above, may elect to have the Executive Deferred Amounts
        invested in an account that accrues interest as set forth in (a) below
        or invested in an account which measures the performance of the
        Company's common stock price as set forth in (b) below.

        (a)    Accounts and Interest Credited on Deferred Accounts. A separate
               Account shall be established and maintained for each Participant,
               which Account shall reflect the Deferred Amount and all interest
               credited thereon from time to time. Each Participant's Account
               Balance shall be credited quarterly with interest as of the end
               of each calendar quarter, with the first such credit being made
               as of March 31, 2001. In the event a Participant's Account
               Balance is paid other than at the end of any calendar quarter, he
               shall be credited with interest thereon from the end of the
               immediately preceding the calendar quarter to the date of
               payment. No interest shall be credited to a Participant's Account
               after the payment of such Participant's Account Balance. Interest
               to be credited for any period shall be at a rate equal to the
               average prime rate which Union Bank of California, N.A. charged
               from time to time during a 360-day year of twelve 30-day months.

        (b)    Accounts and Changes in the Company's Common Stock Price on
               Deferred Accounts. A separate amount shall be established and
               maintained for each Participant, which the accounts shall reflect
               the Participant's deferred amount as if it had been invested in
               the Company's common stock. Each Participant's account balance
               shall be credit or debited as of the end of each calendar
               quarter, with the changes in the Company's common stock price, as
               reflected on the OTB, that accrued from the time the Executive
               established such account to the end of the calendar year quarter.

7.      Payment on Deferred Amount. The Deferred Amount, plus interest credited
        thereon pursuant to Subsection 6(a) or increases or decreases credited
        or charged therein pursuant to Subsection 6(b) hereof, upon the
        Participant's termination of Employment for any reason will be paid to
        the Participant (or, in the event of the Participant's death, the person
        or estate determined under Section 6 hereof) in a lump sum within 30
        days after such termination.

8.      Acceleration of Payment of Deferred Amount. Payment of the Deferred
        Amount plus interest changes thereto pursuant to 6(a) or 6(b) above may
        occur prior to the Participant's termination of Employment under the
        following circumstances:

        (a)    At any time prior to complete payment of the Participant's
               Account Balance, the Company may pay to the Participant an amount
               not greater than that portion of the Deferred Amount that the
               Committee determines, in its sole discretion, is necessary to
               meet an Unforeseeable Emergency. For purposes of this paragraph,
               an Unforeseeable Emergency shall mean an unanticipated emergency
               that is caused by an event beyond the control of the Participant
               and that would result in
<PAGE>   6

               severe financial hardship to the Participant if early withdrawal
               of the Participant's Account Balance were not permitted. The
               Participant shall apply in writing to the Committee for any
               payment under this paragraph and shall furnish to the Committee
               such information as the Committee deems necessary and appropriate
               to make its determination; and,

        (b)    In no event may payment of the Deferred Amount, and interest
               thereon, or any portion thereof, be accelerated in any manner
               other than as provided above.

9.      Designation Of Beneficiary. A Participant may designate a beneficiary or
        beneficiaries who, in the event of the Participant's death prior to full
        payment of his Account Balance hereunder, shall receive payment of the
        Account Balance due under the Plan. Such designation shall be made by
        the Participant on a form prescribed by the Committee. The Participant
        may, at any time, change or revoke such designation. A beneficiary
        designation, or revocation of a prior beneficiary designation, will be
        effective only if it is made in writing on a form provided by the
        Company, signed by the Participant and received by the Company. If the
        Participant does not designate a beneficiary or the beneficiary dies
        prior to receiving any payment of the Account Balance, the Account
        Balance payable under the Plan shall be paid to the Participant's
        estate.

10.     Amendment and Termination. The Board of Directors may at any time amend
        or terminate this Plan. No amendment or termination shall adversely
        affect a Participant's rights to or interest in the Account Balance
        credited prior thereto without the Participant's consent.

11.     Miscellaneous Provisions.

        (a)    This Plan is not a contract for employment of the Employee for a
               certain period of time. Neither the establishment of this Plan,
               nor any action taken hereunder, shall be construed as giving any
               Employee any right to be retained in the Employ of the Company.

        (b)    A Participant's rights and interest under the Plan are not
               subject in any manner to anticipation, alienation, sale,
               transfer, assignment, pledge, encumbrance, attachment, or
               garnishment by creditors of the Participant or the Participant's
               beneficiary.

        (c)    It is the intention of the parties that the Plan be unfunded for
               tax purposes and for purposes of Title I of the Employee
               Retirement Income Security Act of 1974, as amended ("ERISA"). The
               Company shall not be required to establish any special or
               separate fund, or to make any other segregation of assets, to
               assure payment of the Account Balance. Participants have the
               status of general unsecured creditors of the Company and the Plan
               constitutes a mere promise by the Company to make benefit
               payments in the future.

        (d)    To the extent that the Plan is considered to be a plan for
               purposes of ERISA, it shall be considered an unfunded plan
               maintained primarily for the purpose of providing deferred
               compensation for a select group of management or highly

<PAGE>   7

               compensated employees, within the meaning of Sections 201(2),
               301(a)(3) and 401(a)(1) of ERISA.

12.     Withholding and Payments. The Company shall have the right to deduct
        from any amount to be paid to any Participant or beneficiary any taxes
        or other amounts required by law to be withheld.

13.     Effective Date. The Plan shall be effective on and after September 6,
        2000.<PAGE>   1

                                  EXHIBIT 10.4

                              EMPLOYMENT AGREEMENT

<PAGE>   2

                              EMPLOYMENT AGREEMENT

            This AGREEMENT made as of the 6th day of September, 2000, by and
between Hispanic Express, Inc., a Delaware corporation with its principal
offices at 5480 East Ferguson Drive, Commerce, California 90022 (the
"Corporation"), and Gary M. Cypres (the "Executive").

                              W I T N E SS E T H :

            In consideration of the mutual covenants contained herein, the
parties hereto agree as follow:

1.      TERM: The Corporation hereby employs the Executive as Chairman of the
        Board, Chief Executive Officer and President of the Corporation, and the
        Executive agrees to serve the Corporation as such, upon the terms and
        conditions hereof for a period of five years commencing on the date
        hereof.

2.      DUTIES:

        (a)    Executive shall serves as the Chairman of the Board of the
               Corporation, Chief Executive Officer and President with such
               duties and authority as are generally incident to such positions,
               or shall serve in such other senior management positions as the
               Corporation shall determine, provided that such other positions
               shall be comparable in authority and responsibility to the
               positions specified above. The Executive will hold such senior
               offices in the Corporation and/or its subsidiaries or affiliates
               to which he may be elected or appointed from time to time,
               provided that such offices shall not be inconsistent with his
               duties and authority as aforesaid.

        (b)    The Executive agrees that he will devote substantially all of his
               time and attention to the affairs of the Corporation, and will
               use his best efforts to promote the business and interests of the
               Corporation. It is understood, however, that the foregoing will
               not prohibit the Executive from engaging, conducting, or
               participating, either directly or indirectly, in businesses that
               do business with or are related to Banner's Central Electric,
               Inc., Banner Central Finance Company, West Coast Private Equity
               Partners, L.P., Central Rents, Inc. and/or any of their
               subsidiaries or affiliates. It is further understood that the
               terms of this Agreement will not prohibit the Executive from
               engaging in personal investment and business activities for
               himself and his family which do not interfere with the
               performance of his duties hereunder.

3.      COMPENSATION: The Corporation will pay the Executive a salary as set
        forth below, payable in equal installments in accordance with customary
        payroll practices for senior executives of the Corporation, in
        consideration for all services to be rendered by the Executive hereunder
        (including, without limitation, all services to be rendered by him as an
        officer of the Corporation and/or its subsidiaries and affiliates).

<PAGE>   3

<TABLE>
<CAPTION>
                                                                   BASE SALARY
                                                                   -----------
<S>                                                                <C>
January 1, 2001 to December 31, 2001                                 $325,000
January 1, 2002 to December 31, 2002                                 $350,000
January 1, 2003 to December 31, 2003                                 $375,000
January 1, 2004 to December 31, 2004                                 $400,000
January 1, 2005 to December 31, 2005                                 $425,000
</TABLE>

            The Company may also pay the Executive an annual bonus with respect
to each fiscal year of the Corporation, either on an "ad hoc" basis, or pursuant
to any bonus plan or arrangement for senior executives of the Corporation as may
be established at the Corporation's discretion.

            Nothing contained herein shall prohibit the Board of Directors of
the Corporation, in its sole discretion, from increasing the compensation
payable to the Executive pursuant to this Agreement and/or making available to
the Executive other benefits in addition to those benefits which the Executive
is entitled to hereunder.

4.      EXPENSES: The Executive shall be entitled to reimbursement by the
        Corporation, in accordance with the Corporation's policies then
        applicable to senior executives at the Executive's level, against
        appropriate vouchers or other receipts for authorized travel,
        entertainment and other business expenses reasonably incurred by him in
        the performance of his duties hereunder.

5.      EXECUTIVE BENEFITS:

        (a)    SERP PLAN BENEFITS: The Executive shall continue to participate
               in the Corporation's Supplemental Executive Retirement Plan (the
               "SERP Plan"), for which the Corporation has assumed all liability
               from Central Financial Acceptance Corporation, a Delaware
               corporation, and shall be fully vested in the SERP Plan
               (including credit for five Post-Effective Date Years of Service,
               as such term is defined in the SERP Plan) and his "Normal
               Retirement Date" for all purposes shall be deemed to be December
               31, 2000. If the Executive is terminated without "cause", as
               defined in Paragraph 8 below, becomes disabled, or dies at any
               time after the date hereof, then the Corporation will commence
               immediately to pay the Executive or his estate under the SERP
               Plan a benefit equal to his full vested interest (including
               credit for five Post-Effective Date Years of Service) as if he
               had worked to his Normal Retirement Date. Thus, by way of example
               of the above contained provisions, if Executive retires on
               December 31, 2000, the numerator of the fraction referred to in
               the definition of Accrued Benefits in Section 2 (a) of the SERP
               Plan shall be 13 and the denominator shall be 13. Further, for
               purposes of the definition of Final Average Compensation in
               Section 2 (j) of the SERP Plan, if the Executive's Final Average
               Compensation must be calculated before July 14, 2004, his Final
               Average Compensation shall be the

<PAGE>   4

               higher of (i) as determined pursuant to the SERP Plan and the
               provisions of this Agreement; (ii) if he dies or becomes
               disabled, $275,000, or his then current salary if higher on an
               annualized basis, plus a pro rata estimate of his bonus award for
               the current year determined on a reasonable basis taking into
               consideration prior bonus awards; or, (iii) if he is terminated
               without cause, $367,000, plus an estimate of his bonus award for
               the current year determined on a reasonable basis taking into
               consideration prior bonus awards, but in no event shall the bonus
               be less than $30,000. To the extent of any inconsistency between
               this Agreement and the SERP Plan, the terms of this Agreement
               shall prevail.

        (b)    GENERAL BENEFITS: The Executive shall be entitled to participate
               in, and receive benefits under, any pension, profit sharing,
               insurance, hospitalization, medical, disability, or other
               employee benefit plan, program or policy of the Corporation which
               may be in effect at any time during the course of his employment
               by the Corporation, and which shall be generally available to
               senior executives of the Corporation occupying positions of
               comparable status or responsibility, subject to the terms of such
               plans, programs or policies. The Executive shall be entitled to
               up to five and a half weeks vacation per year, plus normal
               holidays and sick days. Notwithstanding the foregoing, the
               Corporation may in its discretion and at any time, change or
               evoke any of its employee benefits plans, programs or policies,
               other than the (1) Executive's compensation; (2) vacation
               provisions; and, (3) the SERP Plan, all as set forth herein, and
               the Executive shall not be deemed, by virtue of this Agreement,
               to have any vested interest in any such plans, programs or
               policies, except as otherwise provided herein. The Corporation
               will also provide the Executive, at the Corporation's expense,
               with an automobile reasonably appropriate to the Executive's
               position, as determined by the Corporation, for use by the
               Executive in connection with the performance of his duties
               hereunder.

        (c)    STOCK OPTIONS: The Executive is awarded a grant of 325,000 at
               [$___] per share, stock options pursuant to the provision of the
               Company's 2000 Stock Option Plan, as amended. The Executive will
               be 60% vested in such options and the remainder shall accrue over
               a two-year period in equal yearly amounts. Should the Company
               terminate the Executive without cause during the term of the
               contract, then the remaining unvested portion of such options
               shall vest immediately.

6.      WITHHOLDING: All payment required to be made by the Corporation to the
        Executive hereunder shall be subject to the withholding of such amounts
        relating to taxes and other governmental assessments as the Corporation
        may reasonable determine it is obligated to withhold pursuant to any
        applicable law, rule or regulation.

7.      DEATH; PERMANENT DISABILITY: This Agreement shall terminate upon the
        death of the Executive during the term of this Agreement, except as
        otherwise provided herein. If the Executive fails to perform the
        services required hereunder during the term of this Agreement because of
        illness or other incapacity for any consecutive period of more than 270
        days, or for shorter periods aggregating more than 270 days in any
        consecutive

<PAGE>   5

        twelve-month period (any such illness or incapacity being hereinafter
        referred to as "permanent disability"), then the Corporation, in its
        discretion, may at any time thereafter terminate this Agreement upon not
        less than 10 days written notice thereof to the Executive, and this
        agreement shall terminate and come to an end upon the date set forth in
        said notice as if said date were the termination date of this Agreement;
        provided, however, that such termination shall not become effective if,
        prior to the date when such notice is given, the Executive's illness or
        incapacity shall end and he shall be physically and mentally able to
        perform the services required hereunder, and shall have taken up and
        begun performing such duties.

        If the Executive's employment shall be terminated by reason of his death
        or permanent disability, the Corporation shall be obligated to pay the
        Executive or his estate, commencing immediately, (i) a lump sum payment
        equal to the Executive's base salary for the remaining term of this
        Agreement; (ii) a pro rata portion of any annual bonus which the
        Executive would otherwise have been entitled to receive pursuant to any
        bonus plan or arrangement for senior executives of the Corporation (such
        pro rata portion to be payable at the time such annual bonus would
        otherwise have been payable to the Executive); and, (iii) subject to the
        terms thereof, any benefits which may be due to the Executive on the
        date of termination by reason of death or disability under the
        provisions of this Agreement, or any employee benefit plan, program or
        policy.

8.      TERMINATION:

        (a)    TERMINATION FOR CAUSE: The Corporation may at any time during the
               term of this Agreement terminate the employment of the Executive
               for cause. Termination for cause shall be by written notice which
               specifies the cause for termination, and termination of
               employment shall be immediately effective upon the Corporation
               giving the Executive such notice. For purposes of this Agreement,
               "cause" shall mean (i) willful gross failure, gross neglect, or
               gross unreasonable refusal to perform the Executive's duties
               hereunder; and, (ii) conviction in connection with any felony
               involving moral turpitude. If the Executive is terminated for
               cause, the Corporation will be obligated to pay the Executive (i)
               only his base salary up to the date upon which the Corporation
               notifies him of his termination for cause, and (ii) subject to
               the terms thereof, any benefits which may be due to the Executive
               under the provisions of this Agreement, or any employee benefit
               plan, program, or policy.

        (b)    TERMINATION WITHOUT CAUSE: If the Executive is terminated without
               cause, then the Corporation will be obligated to pay him or his
               estate, commencing immediately, his base salary, plus a
               reasonable estimate of the Executive's bonus pursuant to the
               Company's Incentive Bonus Plan for the remaining term of this
               Agreement, in addition to any other compensation and/or benefits
               herein provided. If the Executive becomes disabled or dies, then
               the Company will be obligated to pay him or his estate,
               commencing immediately, a lump sum payment equal to his base
               salary for the remaining term of this Agreement, in addition to
               any other compensation and/or benefits herein provided.

<PAGE>   6

9.      INSURANCE:

        The Executive agrees that the Corporation may insure the life of the
        Executive in such amounts as the Corporation may in its discretion
        determine, and may designate the Corporation as the beneficiary under
        such policy or policies. The Executive agrees that he will submit to a
        physical examination upon the Corporation's request, and will execute
        any applications or other documents as may be required to procure such
        life insurance.

10.     NON-COMPETITION; SOLICITATION:

        (a)    The Executive agrees that during his employment with the
               Corporation and for any period following his termination which
               period is greater than 12 months and for which the Executive has
               been paid a lump sum by the Corporation in accordance with this
               Agreement, he shall not, without the written consent of the
               Corporation and except as otherwise provided herein, directly or
               indirectly, either individually or as an employee, agent,
               partner, shareholder, option holder, lender of money, or
               guarantor, participate in, engage in or have a financial interest
               or management position or other interest in any business, firm,
               corporation or management position or other interest in any
               business, firm, corporation or other entity if it competes
               directly with any business operation conducted by the Corporation
               or its subsidiaries or affiliates or any successor or assignor
               thereof, during the employment period or at the time of
               termination. The foregoing provisions of this Section 10(a) shall
               not prohibit the ownership by the Executive of 10% or less of any
               class of capital stock of a corporation which is regularly traded
               on a national securities exchange or over-the-counter on the
               NASDAQ System.

        (b)    The Executive further agrees that at any time during his
               employment with the Corporation and for any period following his
               resignation or termination which period is greater than 12 months
               and for which the Executive has been paid a lump sum by the
               Corporation in accordance with this Agreement, he shall not
               solicit (or assist or encourage the solicitation of ) any
               employee of the Corporation or any of its subsidiaries or
               affiliates to work for Executive or for any business, firm,
               corporation or other entity in which the Executive, directly or
               indirectly, in any capacity described in Section 10(a) hereof,
               participates or engages (or expects to participate or engage) or
               has (or expects to have) a financial interest or management
               position.

        (c)    If any covenant contained in this Section 10, or any part
               thereof, is held by a court of competent jurisdiction to be
               unenforceable because of the duration of such provision, the
               activity limited by such provision, or the subject and/or area
               covered by such provision, then the court making such
               determination shall construe such restriction so as to thereafter
               limit or reduce the scope or duration of such provision or part
               thereof to be valid and enforceable to the greatest extent
               permissible under applicable law.
<PAGE>   7

11.     TRADE SECRETS, ETC.: The Executive agrees that he shall not, during or
        after the termination of this Agreement, divulge, furnish or make
        accessible to any person, firm, corporation or other business entity,
        any information, trade secrets, technical data or know-how relating to
        the business, business practices, methods, products, processes,
        equipment, clients' prices or other confidential or secret aspect of the
        business of the Corporation and/or any subsidiary or affiliate, except
        as may be required in good faith in the course of his employment with
        the Corporation or by law, without the prior written consent of the
        Corporation, unless such information shall become public knowledge
        (other than by reason of Executive's breach of the provisions hereof).

12.     ACCEPTANCE BY EXECUTIVE: The Executive accepts all of the terms and
        provisions of this Agreement and agrees to perform all of the covenants
        on his part to be performed hereunder.

13.     EQUITABLE REMEDIES: The Executive acknowledges that he has been employed
        for his unique talents and that his leaving the employ of the
        Corporation would seriously hamper the business of the Corporation and
        that the Corporation will suffer irreparable damage if any provisions of
        Sections 10 or 11 hereof are not performed strictly in accordance with
        their terms or are otherwise breached. The Executive hereby expressly
        agrees that the Corporation shall be entitled as a matter of right to
        injunctive or other equitable relief, in addition to all other remedies
        permitted by law, to prevent a breach or violation by the Executive and
        to secure enforcement of the provisions of Sections 10 or 11 hereof.
        Resort to such equitable relief, however, shall not constitute a waiver
        or any other rights or remedies which the Corporation may have.

14.     ENTIRE AGREEMENT: This Agreement constitutes the entire agreement
        between the parties hereto and there are no other terms other than those
        contained herein. No variation hereof shall be deemed valid unless in
        writing and signed by the parties hereto, and no discharge of the terms
        hereof shall be deemed valid unless by full performance of the parties
        hereto or by a writing signed by the parties hereto. No waiver by the
        Corporation or any breach by the Executive of any provision or condition
        of this agreement to be performed by him shall be deemed a waiver of a
        breach of a similar or dissimilar provision or condition at the same
        time or any prior or subsequent time.

15.     SEVERABILITY: The validity and enforceability of the remaining
        provisions of this Agreement shall not in any way be affected or
        impaired in the event that any provision in this agreement shall be
        declared invalid, illegal or unenforceable by any court of competent
        jurisdiction.

16.     NOTICES: All notices, request, demands and other communications provided
        for by this Agreement shall be in writing and shall be deemed to have
        been given at the time when mailed in the United States enclosed in a
        registered or certified post-paid envelope, return receipt requested,
        and addressed to the appropriate parties at the address stated below, or
        to such changed addresses as such parties may designate by notice;

              Correspondence to: 5480 E. Ferguson Drive, 3rd Floor
                               Commerce, CA 90022

<PAGE>   8

        provided, however, that any notice of change of address shall be
        effective only upon receipt.

17.     SUCCESSORS AND ASSIGNS: This Agreement in personal in its nature and
        neither of the parties hereto shall, without the consent of the other,
        assign or transfer this Agreement or any rights or obligations hereunder
        (except for an assignment or transfer by the Corporation to a successor
        as contemplated by the following proviso); provided, however, that the
        provisions hereto shall inure to the benefit of, and be binding upon,
        any successor of the Corporation, whether by merger, consolidation,
        transfer of all or substantially all of the assets of the Corporation,
        or otherwise, and upon the Executive, his heirs, executors,
        administrators and legal representatives.

18.     GOVERNING LAW: This agreement and its validity, construction and
        performance shall be governed in all respects by the internal laws of
        the State of California without giving effect to any principles of
        conflict of laws.

19.     HEADINGS: The headings in this agreement are for convenience of
        reference only and shall not control or affect the meaning or
        construction of this Agreement.

        IN WITNESS WHEREOF, the parties hereto have hereunder set their hands
        and seals the day and year first above written.

                                       HISPANIC EXPRESS, INC.

                                       By:    /s/ Gary M. Cypres
                                           -------------------------------------
                                           Gary M. Cypres,
                                           Chief Executive Officer
                                           and President

                                       EXECUTIVE

                                           By:     /s/ Gary M. Cypres
                                               ---------------------------------
                                                  Gary M. Cypres

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}]]