Document:

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                                                                   EXHIBIT 10.25

                              EMPLOYMENT AGREEMENT

         This EMPLOYMENT AGREEMENT (the "Agreement") is entered into this 1ST
day of January, 2001, between Metropolitan Health Networks, Inc., a Florida
corporation ("Employer"), and Debra Finnel, an individual ("Employee").

                                    RECITALS

         A. Employer is a corporation, which provides integrated healthcare
services. Employer wishes to employ Employee as Chief Operating Officer.

         B. Employee is willing to be employed by Employer, and Employer is
willing to employ Employee, all in accordance with the terms, covenants and
conditions hereinafter set forth. Employee has extensive experience in managed
care risk operations and with service providers.

         NOW, THEREFORE, in consideration of the mutual premises and covenants
herein contained, the parties hereto agree as follows:

1.       NATURE OF EMPLOYMENT

         1.1 ENGAGEMENT. Employer does hereby employ and engage Employee as
Chief Operating Officer of Metropolitan Health Networks, Inc. All current
divisions and any future mergers, acquisitions, or divisions of employer shall
report to Employee regarding operatons where applicable and Employee shall be
responsible for such oversite. Employee and Employer must mutually agree upon
and designate in writing any deviation to chain of command and authority.
Employee does hereby accept and agree to such employment and engagement. Within
Employee's capacity as a Chief Operating Officer for Employer, Employee shall
perform duties reasonably and customarily performed by Chief Operating Officers.
Employee shall further comply with reasonable policies, procedures, rules,
regulations and protocols as established by Employer and applicable to Employee
and shall have such duties and responsibilities commensurate with said position.

         1.2 PROMOTION OF SERVICES. Employee shall exercise best efforts to
promote the Company and the services rendered therein to the extent permitted by
law, and the reasonable policies and procedures of Employer.

         1.3 FULL-TIME EFFORTS. Employee shall devote all of her working time,
attention, efforts and skill exclusively to the business of Employer. Standard

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working hours for Employee shall be mutually established by Employer and
Employee as historically performed by Employee.

         1.4 PERSONAL SERVICES CONTRACT. This is a personal services contract
between Employer and Employee. As a result, neither Employee nor Employer may
assign or delegate any rights, duties or obligations established herein without
the prior written consent of Employer and Employee.

         It is expressly understood that in the event Employer's business is
sold, merged, transferred or assigned during the term of this Agreement and
Employee is not retained in the same position and authority by the newly
acquired owner of Employer's business to carry out the employment set forth
within this Agreement, Employee is entitled, from Employer, an amount equal to
two (2) year's Base Salary as set forth herein.

2.       MANNER OF PERFORMANCE

         2.1 PERFORMANCE STANDARDS. Employee agrees that Employee shall at all
times faithfully, industriously and to the best of Employee's ability, perform
all of the duties required hereunder to the reasonable satisfaction of Employer.
Such duties shall be rendered at the Metropolitan Health Networks, 500
Australian Avenue, Suite 1000, West Palm Beach, Florida 33401, as hereinabove
set forth, and at such other place or places as Employer shall in good faith
require with mutual consent. Employee agrees to comply with all standards
established by or on behalf of Employer.

         2.2 ATTENDANCE AT SEMINARS. To the extent Employee's duties and
schedule reasonably permit, Employee shall attend all meetings and seminars held
by or on behalf of Employer.

         2.3 RULES AND REGULATIONS. Employee shall observe and comply with all
reasonable rules, regulations, policies, procedures and protocols of Employer
and shall faithfully carry out the orders and directions of its officers and
directors.

3.       TERM

         3.1 TERM. Except as otherwise provided herein, the term of this
Agreement shall be for a period of five (5) consecutive year(s) (the "Initial
Term"). Thereafter, Employer and Employee may mutually agree to renew for two
(2) consecutive five (5) year options, provided that Employee is not otherwise
in material breach of any of the other terms, conditions or provisions of this
Agreement. If Employee elects not to renew this Agreement after the Initial
Term, Employee must provide Employer not less than six (6) months prior written
notice and Employer must provide Employee six (6) months prior written notice.

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4.       COMPENSATION AND BENEFITS

         4.1 COMPENSATION. Employer shall pay Employee, and Employee agrees to
accept from Employer as payment in full for Employee's services hereunder, a
base salary of $225,000 per annum (the "Base Salary") payable in equal
installments every other Friday, during the term of this Agreement. The Base
Salary will increase July 1, 2001 to $250,000 and additional annual increases
will be at the Employer's sole discretion based upon Employee's level of
performance under the terms of this Agreement and such other relevant factors as
Employer may reasonably apply.

         4.2 SIGNING BONUS. As additional compensation, Employer shall cause
Metropolitan to issue to Employee 300,000 options to purchase Common stock of
Metropolitan Health Networks, Inc., at a $1.00 purchase price, which shall bear
an appropriate restrictive legend indicating that the shares are restricted
pursuant to the terms of Rule 144 of the Securities and Exchange Commission. The
options of Metropolitan shall be delivered to Employee hereunder, shall be
validly authorized and delivered 100,000 options at the 1st anniversary date and
100,000 options at the subsequent anniversary dates of this agreement until
Employee has received 300,000 Options that are vested during this period, as
long as Employee continues to be employed by Employer or if Options become fully
vested as described in 9.3(a), issued fully paid and nonassessable.

         4.3 BONUS FOR SERVICES RENDERED. Employee may receive, in addition to
the Base Salary, a bonus (the "Bonus") at the discretion of the Board of
Directors or Employer.

         4.4 VACATION. Employee shall be entitled to twenty-five (25) days of
paid time off ("PTO") in addition to all standard office holidays. Employee may
use PTO for any reason.

         4.5 EMPLOYEE BENEFITS. Employee shall be entitled to participate in all
benefit programs and Employer makes plans as available to its employees on a
usual and customary basis, including health insurance.

         4.6 REIMBURSEMENT. Expenses incurred by Employee on Employer's behalf
at Employer's written direction shall be reimbursed in full. Employer shall
reimburse employee for all reimbursable expenses incurred by Employee pursuant
to this Section 4.6 within thirty (30) days of submission for reimbursement to
Employer. Employee shall be entitled to an automobile allowance $1500 paid
monthly. In the event an expense paid on behalf of, or reimbursement contributed
to, Employee is determined not to be an allowable tax deduction or credit of
Employer and such determination is acceded to by Employer or rendered final by
the State or federal taxing authority or court with final jurisdiction, Employee
shall forthwith, upon ten (10) days' prior written notice and without regard to

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whether this Agreement shall then be terminated, reimburse Employer for the full
amount of the out-of-pocket loss incurred by Employer as a result of any such
disallowance.

5.       NONDISCLOSURE OF INFORMATION CONCERNING BUSINESS;

         5.1 CONFIDENTIAL INFORMATION. Employee acknowledges and agrees that he
will have access to certain confidential information of the Employer and that
such information constitutes valuable, special and unique property of Employer.
Employee further acknowledges and agrees that, subject to the provisions of
Section 10.2, Employee will not, at any time during or after the term hereof, in
any fashion, form, or manner, either directly or indirectly, divulge, disclose
or communicate to any person, firm, or corporation, in any manner whatsoever,
the terms and conditions of this Agreement or any information of any kind,
nature or description concerning any matters affecting or relating to the
business of the Employer, including, without limiting the foregoing, the names
of patients, the prices which Employer pays for goods or services or at which it
provides services or sells products or goods, Employer's manner of operations,
plans or processes, or any other data or information of any kind, nature or
description which affects or relates to Employer's business, without regard to
whether any or all of the foregoing would be deemed confidential information or
a trade secret under applicable State law ("Confidential Information").

         5.2 INJUNCTIVE RELIEF. Employee recognizes and agrees that a violation
of any of the provisions contained in this Section may cause irreparable damage
to Employer, the exact amount of which may be impossible to ascertain, and that,
for such reason, among others, Employer shall be entitled to an injunction
without the necessity of posting bond therefore in order to restrain any further
violation of such provisions. Such right to an injunction shall be in addition
to, and not in limitation of, any other rights and remedies Employer may have
against Employee, including, but not limited to, the recovery of damages. The
terms and conditions of this Section shall survive termination of this
Agreement.

6.       COVENANT NOT TO COMPETE

         6.1 NON-COMPETITION AGREEMENT. Employee agrees that during the term of
this Agreement and for a period of one (1) year thereafter, Employee shall not,
within a 5 mile radius of the Offices or Locations, directly or indirectly
compete with the business of Employer, or own directly or indirectly, any part
of or become the employee of, or otherwise render services to, any enterprise
which directly or indirectly competes with the business of the Employer.
Employee agrees that the limitations set forth herein in regard to competing
with Employer during the term of this Agreement and thereafter are (i)
reasonable and necessary for the protection of the goodwill of the business of
Employer; and (ii) established in express conjunction with the Transaction and
is provided as a material inducement incident thereto. In that regard, Employee
specifically agrees that the limitations as to period of time and geographic
area are reasonable and necessary for the protection of Employer's business.
Employee further recognizes and agrees that a violation of any of the provisions
contained in this Section will cause irreparable damage to Employer, the exact
amount of which may be impossible to ascertain and that, for such reason, among
others, Employer shall be entitled to an injunction without the necessity of
posting bond therefore in order to restrain any further violation of such

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provisions. Such right to an injunction shall be in addition to, and not in
limitation of, any other rights and remedies Employer may have against Employee,
including, but not limited to, the recovery of damages. Further, it is agreed by
Employee that in the event that any of the provisions of this Section are found
by a court of competent jurisdiction to exceed the time and geographic
limitations enforceable under applicable law, such provisions shall be
automatically reformed to establish the maximum time or geographic limitations
permitted by law, or, if not capable of such reformation, deemed null and void.
Nothing contained herein shall be deemed to prevent or limit the right of
Employee to invest any surplus funds in real estate or in the capital stock or
other securities of any corporation whose stock or securities are regularly
traded on any nationally recognized stock exchange. The terms and conditions of
this Section shall survive termination of this Agreement.

         6.2 TERMINATION OF RESTRICTIVE COVENANTS. Notwithstanding the
provisions of Section 6.1 and 6.2 herein, if Employer pursuant to Section 9.3 or
Employee pursuant to Section 9.2 terminates this Agreement, Employee will not be
subject to the terms and conditions contained in Sections 6.1 and 6.2.

7.       COVENANT NOT TO SOLICIT

         Employee agrees that during the term of this Agreement and for a period
of one (1) year thereafter, subject to the provisions of section 10.2 , Employee
shall not (i) solicit, encourage or advise patients treated during the term of
this Agreement at the Offices or the New Location to obtain or seek professional
services from any professional who is not an employee of Employer, or (ii)
solicit, encourage or advise any employees of Employer to terminate employment
with Employer for any reason whatsoever. Employee recognizes and agrees that the
limitations set forth herein are reasonable and necessary for the protection of
the goodwill of the business of Employer. Employee further recognizes and agrees
that a violation of any of the provisions contained herein will cause
irreparable damage to Employer, the exact amount of which may be impossible to
ascertain, and that, for such reason, among others, Employee shall be entitled
to an injunction without the necessity of posting bond therefore in order to
restrain any further violation of such provisions. Such right to any injunction
shall be in addition to, and not in limitation of, any other rights and remedies
Employer may have against Employee, including, but not limited to, the recovery
of damages. As used herein, the term "patient" shall include any and all
patients treated at the Offices, the or any other office location to which
Employee is or has been transferred on a permanent or temporary basis by
Employer during the term of this Agreement. The terms and conditions of this

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Section shall survive termination of this Agreement. If Employer pursuant to
Section 9.3 or Employee pursuant to Section 9.2 terminates this agreement,
Employee will not be subject to conditions contained in Section 7.

8.  REPRESENTATIONS AND WARRANTIES

         8.1 REPRESENTATIONS AND WARRANTIES. Employee represents and warrants
that she:

                  (a) is not subject to any restriction that would prohibit
entering into this Agreement, is fully able to perform each of the terms,
conditions and covenants hereof, and is not restricted or prohibited from
entering into or performing any of the terms or conditions hereof; and

                  (b) is able to execute and perform under this Agreement
without violating or breaching any agreement between Employee and any other
person or entity.

         8.2 ACCURACY OF REPRESENTATIONS. Employee acknowledges and agrees that
the truth and accuracy of the representations and warranties contained herein
constitute a condition precedent to Employer's obligation to provide
compensation pursuant to the terms and conditions of this Agreement.
Compensation shall be provided in good and collected funds and will be paid when
due or will constitute a void of this contract and any restrictions imposed on
the employee in section 6 and 7.

         8.3 COOPERATION IN DISPUTE RESOLUTION. Employee recognizes that certain
disputes may arise between Employer and third parties, the resolution of which
may require the cooperation of Employee, including, but not limited to,
Employee's providing factual information and giving depositions and testimony in
judicial and administrative proceedings. Employee shall, during the term hereof
and at all times after termination, cooperate with Employer to allow it to
advance its position with respect to such disputes. Employer shall reimburse
Employee for all out-of-pocket expenses incurred in connection with such
cooperation, provided that Employee obtains Employer's agreement in advance to
do so and provides Employer with an itemized written account of such
reimbursable expenses. The terms and conditions of this Section shall survive
termination of this Agreement.

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9.       TERMINATION

         9.1 TERMINATION BY EMPLOYER. Employer shall have the right to terminate
Employee's employment hereunder forthwith upon, or at any time after, the
occurrence of one or more of the following events:

                  (a) Nonperformance of Employee's duties as an Employee for
whatever reason, which non-performance continues for a period of thirty (30)
days after Employer notifies Employee, including Employee's disability for which

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Employer can make no reasonable accommodation. The term "disability" shall mean,
for purposes of this Agreement, the inability of Employee to perform full-time
regular duties as contemplated hereunder on account of a physical or mental
condition for a period of 90 consecutive days, but shall exclude infrequent and
temporary incapacity due to ordinary illness;

                  (b) Employee's theft or other act of dishonesty;

                  (c) The death of Employee;

                  (d) The unlawful harassment of other employees (including
sexual harassment) or the acts or omissions of Employee constituting a crime;

                  (e) The abuse of drugs or alcohol;

                  (f) The material breach by Employee of any of the provisions,
representations, warranties or covenants established herein, or the repeated
failure by Employee to comply with reasonable policies and procedures of
Employer or observe the orders and directions of its officers and directors, for
a period of thirty (30) days after Employer notifies Employee.

         9.2 TERMINATION BY EMPLOYEE. Employee shall have the right to terminate
Employee's employment and void sections 6 and 7 hereunder forthwith upon, or at
any time after, the Agreement upon occurrence of one or more of the following
events:

                  (a) The material breach by Employer of any of the provisions
of this Agreement. Employee is to provide Employer with written notice that
Employer has materially breached a provision of this Agreement and Employee
shall request a cure of the breach by Employer within thirty (30) days following
such notice and if not cured, then Employee shall have the right to terminate
this Agreement immediately;

                  (b) Employer's fraud; Non-payment of Employee's salary or
issuing payment not drawn on good and collected funds. Employee shall request a
cure of the breach by Employer within thirty (30) days following such notice and
if not cured, then Employee shall have the right to terminate this Agreement
immediately

                  (c) The unlawful harassment of the Employee by Employer or any
of Employer's employees or the acts or omissions of Employer constituting a
crime. Employee shall request a cure of the breach by Employer within thirty
(30) days following such notice and if not cured, then Employee shall have the
right to terminate this Agreement immediately.

         It is expressly understood by Employer that if Employer's business is
sold, merged, transferred or assigned during the term of this Agreement and
Employee is not retained by the newly acquired owner in the same position and

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authority by the Employer's business to carry out the employment set forth
within this Agreement, Employee is entitled, from Employer, the amount two (2)
years base salary.

         9.3      TERMINATION BY EMPLOYER OTHER THAN FOR CAUSE.

                  (a) The foregoing notwithstanding, Employer may terminate
Employee's employment for whatever reason it deems appropriate; provided,
however, that in the event such termination is not based on cause, as provided
in Section 9.1 above, Employer shall continue to be obligated to pay to Employee
all Base Salary remaining on initial term and shall immediately vest any options
outstanding and will extend piggy-back right to said options.

                  (b) In the event that the Employee's employment with Employer
is terminated pursuant to this Section 9.3, then Section 6 and 7of this
Agreement and all references thereto shall be inapplicable as to Employee and
Employer.

         9.4 DUTIES UPON TERMINATION. Employee hereby irrevocably agrees to
return to Employer any and all copies of forms, documents or records which
contain Confidential Information forthwith upon termination of this Agreement.

10.      MISCELLANEOUS

         10.1 ENFORCEMENT. Employer and Employee acknowledge that Employee will
be providing services hereunder which are of a personal, special, unique,
unusual and extraordinary character. In recognition thereof, Employee agrees
that, under certain circumstances, a breach of this Agreement cannot reasonably
be compensated in damages and that Employer shall, under such circumstances, be
entitled to injunctive relief. However, no remedy made available by virtue of
this Section shall be exclusive of any other remedy available to the litigant,
and each and every remedy hereunder shall be in addition to all other remedies
available at law or in equity.

         10.2 NO THIRD-PARTY BENEFIT. The provisions of this Agreement are
intended only for the regulation of relations among the parties hereto. This
Agreement is not intended for the benefit of creditors or other third parties,
and no rights are granted to such individuals or entities except where expressly
referenced herein.

         10.3 COMMITMENTS . Notwithstanding any provision herein to the
contrary, it is expressly understood and agreed that Employee shall have the
right to make any contracts or commitments for or on behalf of Employer.

         10.4 ENTIRE AGREEMENT; AMENDMENT. Except as otherwise stated herein,
this Agreement sets forth the entire agreement of the parties hereto with
respect to the subject matter hereof, and supersedes all prior and
contemporaneous agreements, arrangements and understandings. Except as otherwise
stated herein, no representation, promise, inducement or statement of intention
has been made by any party hereto which is not embodied in this Agreement, and

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no party hereto shall be bound by, or liable for, any alleged representation,
promise, inducement or statement of intention not set forth herein. This
Agreement may only be amended by the mutual written consent of Employer and
Employee.

         10.5 WAIVER. No waiver or modification of this Agreement or any
covenant, condition, or limitation herein shall be valid unless in writing and
duly executed by the parties hereto, and no evidence of any waiver or
modification shall affect this Agreement, or the rights or obligations of any
party hereunder, unless such waiver or modification is in writing and duly
executed by the parties hereto. The parties hereto further agree that the
provisions of this Section may not be waived except as herein set forth.

         10.6 GOVERNING LAW; HEADINGS. This Agreement and performance hereunder
shall be construed and enforced, and all lawsuits and special proceedings
arising out of or related hereto shall be conducted, in accordance with the laws
of the State of Florida. Venue shall be in Palm Beach County, Florida. The
Section and Paragraph headings contained herein are for convenient reference
only and shall not affect the meaning or interpretation of this Agreement.

         10.7 BLUE LINING; SEVERABILITY. In the event any provision of this
Agreement is held to be unenforceable or invalid under the laws of the United
States or the State in which services are rendered by Employee pursuant to this
Agreement, the parties hereto agree that such provision shall automatically be
deemed modified for purposes of performance of this Agreement to the extent
necessary to render it lawful and enforceable, or if such modification is not
possible without materially altering the intent of the parties hereto, that such
provision shall automatically be deemed severed from this Agreement. The
validity of the remaining provisions of this Agreement shall not be affected by
any such modification or severance.

         10.8 ASSIGNMENT. This Agreement, and the rights and duties established
herein, may only be assigned in accordance with Section 1.4 hereof.

         10.9 NOTICES. Except as otherwise provided herein, all notices,
requests, demands and other communications required or permitted hereunder shall
be in writing and shall be deemed to have been given if delivered personally, by
prepaid telex or telegram or mailed first class, postage prepaid, certified
United States mail, return receipt requested, to the party who is to receive
such notice, request, demand or communication at such party's address as set
forth on the signature page hereof. Any party hereto may change its address for
notice by giving to the other party written notice of such change. Any notice
given hereunder shall be effective (i) if delivered personally, when delivered,
(ii) if sent by telex or telegram, 24 hours after sending, and (iii) if mailed,
72 hours after the date of mailing.

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         10.10 BINDING EFFECT. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns,
subject to the restriction on assignment set forth herein.

         10.11 TIME OF ESSENCE; ADDITIONAL DOCUMENTS. Time is of the essence in
regard to the obligations established hereunder. The parties hereto agree that
they shall cooperate in good faith to accomplish the objectives of this
Agreement and, towards that end, agree to execute such further instruments and
documents and take such further action as may be reasonably necessary to
effectuate the terms, conditions and purposes of this Agreement.

         10.12 JURISDICTION. The parties hereto submit to the jurisdiction of
the courts of the State of Florida for the purpose of resolution of any and all
disputes which arise out of, or are related to, this Agreement or an alleged
breach thereof.

         10.13 COUNTERPARTS. This Agreement may be executed simultaneously in
two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. If executed in
counterpart, this Agreement shall be binding when one or more counterparts
hereof, individually or taken together, bear the signatures of the parties
reflected hereon as signatories.

         10.14 NO ACT CONTRARY TO LAW. Nothing herein shall be construed so as
to require the commission of any act contrary to law, and wherever there is any
statute, law, ordinance or regulation which is inconsistent with this Agreement,
such statute, law, ordinance or regulation shall prevail, and, in such event,
the provision herein in conflict automatically shall be curtailed, limited or
eliminated to the extent necessary to bring it within legal limitations.

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         IN WITNESS WHEREOF, the parties hereto have executed this instrument,
or caused its execution by a duly authorized officer, all as of the day and year
first above written.

                                        "EMPLOYER"

                                        Metropolitan Health Networks, Inc
                                        a Florida corporation.

                                        By:
                                           -----------------------------------
                                        Name:    Fred Sternberg
                                        Title: CEO & President

                                        Address:
                                        500 Australian Avenue South
                                        Suite 1000
                                        West Palm Beach, Florida 33401

                                        "EMPLOYEE"

                                        Debra Finnel

                                        -----------------------------------
                                        [Signature]

                                        Address:
                                           13312 150th Court North
                                           Jupiter, Florida 33478

                                       11<PAGE>   1
                                                                     Exhibit 4.2

                                  ACKEEOX CORP.

                                WARRANT AGREEMENT

WARRANT AGREEMENT made this 4th day of June, 2001 between ACKEEOX CORP., a
Florida corporation (the "Company"), and FLORIDA ATLANTIC STOCK TRANSFER, INC.,
a Florida corporation (the "Warrant Agent").

FOR VALUE RECEIVED, the parties hereto agree as follows:

1. OFFERING OF WARRANTS. The Company proposes to offer, sell and issue warrants
("Warrants") to purchase up to an aggregate of one million (1,000,000) shares of
its common stock ("Common Stock"). Such Warrants comprise a part of the
investment units to be sold by the Company, each unit ("Unit") consisting of a
share of Common Stock and a Warrant to purchase an additional share of Common
Stock. Each Warrant entitles the registered holder thereof ("Warrant Holder") to
purchase a share of Common Stock at the price of five dollars and ten cents
($5.10) per share.

A registration statement on Form SB-2 with respect to the Warrants, including a
form of prospectus, has been filed by the Company with the Securities and
Exchange Commission ("Commission") under the Securities Act of 1933, as amended
("Securities Act"). Amendments to such registration statement have been and may
be filed, and a final form of prospectus shall be filed with the Commission upon
the effectiveness of such registration statement. Such registration statement
(including all exhibits thereto), as amended at the time it becomes effective
and at the time each post-effective amendment thereto becomes effective, and the
final prospectus filed upon the effectiveness of such registration statement or
post-effective amendment (including any supplements to such final prospectus
filed following such effectiveness) are referred to herein, respectively, as the
"Registration Statement" and the "Prospectus."

2. WARRANTS. As described in the Registration Statement and the Prospectus, each
Warrant shall entitle the Warrant Holder to purchase Common Stock directly from
the Company at the price of five dollars and ten cents ($5.10) per share
("Exercise Price"). Each Warrant shall be exercisable as provided herein for a
period of twenty four (24) months commencing September 30, 2002, provided that
the Common Stock issuable upon the exercise of such Warrant is, at the time of
exercise, registered or otherwise qualified for sale under the Securities Act
and the securities or "blue sky" laws of the jurisdiction in which the exercise
of such Warrant is proposed to be effected ("Warrant Exercise Period"). Upon the
expiration of its Warrant Exercise Period, each Warrant will, respectively,
expire and become void and of no value.

3. CERTIFICATES. The certificates evidencing Warrants ("Warrant Certificates")
shall be registered as to each Warrant Holder and be substantially in the form
set forth in EXHIBIT "A" to this

<PAGE>   2

Agreement. Warrant Certificates shall be signed by, or shall bear the facsimile
signature of the President or a Vice President of the Company. If any person
whose signature appears upon any Warrant Certificate as an officer of the
Company shall have ceased to be such officer before such Warrant Certificate is
issued and delivered, such Warrant may be issued and delivered as if such person
had not ceased to be an officer. Any Warrant Certificate may be signed by, or
made to bear the facsimile signature of, any person who at the actual date of
the preparation of such Warrant Certificate shall be a proper officer of the
Company to sign such Certificate even though such person was not such an officer
upon the date of this Agreement.

4. REGISTRATION OF TRANSFERS AND EXCHANGES. Subject to the provisions of Section
3, the Warrant Agent shall from time to time register the transfer of any
outstanding Warrant Certificate upon records maintained by the Warrant Agent for
such purpose following the surrender of such Warrant Certificate to the Warrant
Agent for transfer, accompanied by appropriate instruments of transfer in form
satisfactory to the Company and the Warrant Agent and duly executed by the
Warrant Holder or a duly authorized attorney. Upon any such registration of
transfer, a new Warrant Certificate shall be issued in the name of and to the
transferee and the surrendered Warrant Certificate shall be canceled.
Notwithstanding the foregoing, Warrants shall not be transferable apart from the
Units before September 30, 2002.

5. EXERCISE OF WARRANTS.

    (a) A Warrant shall be exercised by the Warrant Holder by surrendering to
the Warrant Agent the certificate evidencing such Warrant with the exercise form
on the reverse of such Warrant Certificate duly completed and executed and
delivering to the Warrant Agent, by good check payable to the order of the
Company, the aggregate Exercise Price of the shares of Common Stock to be
purchased.

    (b) During its Warrant Exercise Period, a Warrant may be exercised in whole
at any time or in part from time to time, provided that not less than twenty
(20) shares of Common Stock shall be purchased upon any partial exercise.

    (c) Upon receipt of a Warrant Certificate with the exercise form thereon
duly executed together with payment in full of the aggregate Exercise Price of
the shares of Common Stock to be purchased, the Warrant Agent shall requisition
from the Company and upon receipt shall make delivery of, certificates
evidencing the total number of shares of Common Stock issuable upon such
exercise, in such names and denominations as are required for delivery to, or in
accordance with the instructions of the Warrant Holder. Such Common Stock
certificates shall be deemed to be issued, and the person to whom such shares of
Common Stock are

                                      -2-
<PAGE>   3

issued of record shall be deemed to have become a holder of record of such
shares of Common Stock, as of the date of the surrender of such Warrant
Certificate and payment of the Exercise Price, whichever shall last occur;
provided, that if the books of the Company with respect to the transfer of
Common Stock are then closed, such shares shall be deemed to be issued, and the
person to whom such shares of Common Stock are issued of record shall be deemed
to have become a record holder of such shares, as of the date on which such
transfer books of the Company shall next be open (whether before, on or after
the expiration of the applicable Warrant Exercise Period).

    (d) Subject to Section 6(b), if less than all the Warrants evidenced by a
Warrant Certificate are exercised upon a single occasion, a new Warrant
Certificate for the balance of the Warrants not so exercised shall be issued and
delivered to, or in accordance with transfer instructions properly given by, the
Warrant Holder, until the expiration of the applicable Warrant Exercise Period.

    (e) All Warrant Certificates surrendered upon exercise of Warrants shall be
canceled.

    (f) Upon the exercise of any Warrant, the Warrant Agent shall promptly
forward all funds received in payment of the Exercise Price to the Company. Once
such funds are determined to be collected, the Warrant Agent shall cause the
certificate(s) representing the shares of Common Stock issued upon the exercise
of Warrants to be delivered to the record holder(s) of such Common Stock.

    (g) Reasonable expenses incurred by the Warrant Agent hereunder shall be
paid or reimbursed by the Company. These expenses, including delivery of Common
Stock certificates to shareholders, shall be paid directly by the Company upon
demand. A report setting forth (i) the names of exercising Warrant Holders, (ii)
the number of shares of Common Stock issuable to such exercising Warrant
Holders, respectively, (iii) the amount of funds remitted by such exercising
Warrant Holders, respectively, and (iv) any expenses paid (including fees and
expenses of the Warrant Agent) shall be provided to the Company by the Warrant
Agent periodically.

6. TAXES. The Company shall pay all taxes attributable to the initial issuance
of shares of Common Stock upon the exercise of Warrants. Taxes attributable to
(i) the issuance of any Common Stock certificate in the name other than that of
a Warrant Holder upon the exercise of Warrants or (ii) the transfer of any
Warrant shall be paid by the Warrant Holder requesting such issuance or
proposing to effect such transfer; such transactions shall only be effected
following the deposit with the Warrant Agent of funds sufficient to pay in full
any tax liability incurred or to be incurred in connection therewith.

                                      -3-
<PAGE>   4

7. MUTILATED OR MISSING WARRANT CERTIFICATES. If any Warrant Certificate is
mutilated, lost, stolen or destroyed, the Company and the Warrant Agent may, on
such terms as to indemnity or otherwise as they may in their discretion impose
(which shall, in the case of a mutilated Warrant Certificate, include the
surrender thereof), and upon receipt of evidence satisfactory to the Company and
the Warrant Agent of such mutilation, loss, theft or destruction, issue a
substitute Warrant Certificate. Applicants for substitute Warrant Certificates
shall comply with any reasonable regulations (and pay any reasonable charges)
prescribed by the Company or the Warrant Agent.

8. RESERVATION OF SHARES. For the purpose of enabling the Company to satisfy its
obligation to issue Common Stock upon the exercise of Warrants, the Company
shall at all times reserve and keep available, free from preemptive rights, out
of the aggregate of its authorized but unissued Common Stock, the full number of
shares which may be issued upon the exercise of Warrants; such shares of Common
Stock shall upon issuance be fully paid, nonass- essable, and free from all
taxes, liens, charges and security interests with respect to the issuance
thereof.

9. GOVERNMENTAL RESTRICTIONS. If any shares of Common Stock issuable upon the
exercise of Warrants require registration with or approval of any governmental
authority, the Company shall endeavor to secure such registration or approval;
provided that in no event shall such shares of Common Stock be issued, and the
Company shall have the authority to suspend the exercise of all Warrants, until
such registration or approval shall have been obtained; however all Warrants,
the exercise of which is requested during any such suspension, shall be
exercisable at the Exercise Price. If any such period of suspension continues
past the expiration of its Warrant Exercise Period, any Warrant as to which
exercise has been requested on or prior to the expiration of its Warrant
Exercise Period shall be exercisable upon the removal of such suspension until
the close of business on the business day immediately following the expiration
of such suspension.

10. ADJUSTMENTS. Subject to the terms set forth in the Warrant Certificates, if,
prior to the exercise of any Warrants, the Company shall have effected one or
more stock split-ups, stock dividends or other increases or reductions of the
number of shares of its Common Stock outstanding without receiving compensation
therefor in money, services or property, the number of shares of Common Stock
subject to the Warrants shall, (i) if a net increase shall have been effected in
the number of outstanding shares of Common Stock, be proportionately increased,
and the cash consideration payable per share shall be proportionately reduced,
and, (ii) if a net reduction shall have been effected in

                                      -4-
<PAGE>   5

the number of outstanding shares of Common Stock, be proportionately reduced and
the cash consideration payable per share be proportionately increased.

11. NOTICE TO WARRANT HOLDERS.

    (a) Upon any adjustment as described in Section 10 hereof, the Company
within twenty (20) days thereafter shall (i) cause to be filed with the Warrant
Agent a certificate signed by an officer of the Company setting forth the
details of such adjustment, the method of calculation and the facts upon which
such calculation is based, which certificate shall be conclusive evidence of the
correctness of the matters set forth therein, and (ii) cause written notice of
such adjustments to be given to each Warrant Holder as of the record date
applicable thereto.

    (b) If the Company proposes to enter into any reorganization,
reclassification, sale of all or substantially all of its assets, consolidation,
merger, dissolution, liquidation or winding up, the Company shall give notice of
such fact at least twenty (20) days prior to such action to all Warrant Holders,
which notice shall set forth such facts as indicate the effect of such action
(to the extent such effect may be known at the date of such notice) on the
Exercise Price and the kind and amount of the shares or other securities and
property deliverable upon exercise of the Warrants. Without limiting the
obligation of the Company under the provisions of this Agreement to provide such
notice to each Warrant Holder, failure of the Company to give notice shall not
invalidate any corporate action taken by the Company.

12. NO FRACTIONAL WARRANTS OR SHARES. The Company shall not be required to issue
fractions of Warrants upon the reissue of Warrants, any adjustments as described
in Section 10 hereof or otherwise; but the Company in lieu of issuing any such
fractional interest, shall round up or down to the nearest full Warrant. If the
total Warrants surrendered for exercise would result in the issuance of a
fractional share of Common Stock, the Company shall not be required to issue a
fractional share but rather the aggregate number of shares issuable shall be
rounded up or down to the nearest full share.

13. RIGHTS OF WARRANT HOLDERS. No Warrant Holder, as such, shall have any rights
of a shareholder of the Company, either at law or equity, and the rights of the
Warrant Holders, as such, are limited to those rights expressly provided in this
Agreement or in the Warrant Certificates. The Company and the Warrant Agent may
treat the registered Warrant Holder in respect of any Warrant Certificate as the
absolute owner thereof for all purposes notwithstanding any notice to the
contrary.

14. WARRANT AGENT. The Company hereby appoints the Warrant Agent to act as the
agent of the Company, and the Warrant Agent

                                      -5-
<PAGE>   6

hereby accepts such appointment, upon the following terms and conditions by all
of which the Company and every Warrant Holder, by acceptance of a Warrant, shall
be bound:

    (a) Statements contained in this Agreement and in the Warrant Certificates
shall be taken as statements of the Company. The Warrant Agent assumes
responsibility hereunder only for the correctness of any statement which
describes the Warrant Agent and/or for action taken or to be taken by the
Warrant Agent.

    (b) The Warrant Agent shall not be responsible for any failure of the
Company to comply with any of the Company's covenants contained in this
Agreement or in the Warrant Certificates.

    (c) The Warrant Agent may consult at any time with counsel satisfactory to
it (who may be counsel for the Company), and the Warrant Agent shall incur no
liability or responsibility to the Company or to any Warrant Holder in respect
of any action taken, suffered or omitted by it hereunder in good faith and in
accordance with the opinion or the advice of such counsel, provided the Warrant
Agent shall have exercised reasonable care in the selection and continued
employment of such counsel.

    (d) The Warrant Agent shall incur no liability or responsibility to the
Company or to any Warrant Holder for any action taken in reliance upon any
notice, resolution, waiver, consent, order, certificate or other paper, document
or instrument believed by it to be genuine and to have been signed, sent or
presented by the proper party or parties.

    (e) The Company agrees to pay to the Warrant Agent for the services rendered
by the Warrant Agent hereunder those fees to which the Warrant Agent is entitled
as the Company's transfer agent and registrar. The Company shall also reimburse
the Warrant Agent for all expenses, taxes and governmental charges and all other
charges of any kind or nature incurred by the Warrant Agent in the performance
of this Agreement.

    (f) The Company shall indemnify the Warrant Agent and hold it harmless
against any and all liabilities, including judgments, costs and counsel fees,
incurred in connection with its performance of this Agreement, except as a
result of the Warrant Agent's negligence or bad faith. In no case shall the
Warrant Agent be liable for special, indirect, incidental or consequential loss
or damage of any kind whatsoever, even if the Warrant Agent has been advised of
the likelihood of such loss or damage.

    (g) The Warrant Agent shall be under no obligation to institute any action,
suit or legal proceeding or to take any other action likely to involve expense
unless the Company or one or more Warrant Holders shall furnish the Warrant
Agent with reasonable security and indemnity for any costs and expenses which

                                      -6-
<PAGE>   7
may be incurred in connection with such action, suit or legal proceeding, but
this provision shall not affect the power of the Warrant Agent to take such
action as the Warrant Agent may, in its sole and absolute discretion, consider
proper, whether with or without any such security or indemnity.

All rights of action under this Agreement or under any of the Warrants may be
enforced by the Warrant Agent without the possession of any of the Warrant
Certificates or the production thereof at any trial or other proceeding relative
thereto, and any such action, suit or proceeding instituted by the Warrant Agent
shall be brought in its name as Warrant Agent, and any recovery of judgment
shall be for the ratable benefit of the Warrant Holders as their respective
rights or interests may appear, subject to the terms set forth in the Warrant
Certificates.

    (h) The Warrant Agent and any shareholder, director, officer or employee of
the Warrant Agent may buy, sell or deal in any of the Warrants or other
securities of the Company, or become pecuniarily interested in any transaction
in which the Company may be interested, or contract with or lend money to the
Company, or otherwise act as fully and freely as though it were not Warrant
Agent under this Agreement or a shareholder, director, officer or employee of
such Warrant Agent. Nothing herein shall preclude the Warrant Agent from acting
in any other capacity for the Company or for any other legal entity.

15. SUCCESSOR WARRANT AGENT. Any entity into which the Warrant Agent may be
merged or converted or with which it may be consolidated, or any entity
resulting from any merger, conversion or consolidation to which the Warrant
Agent shall be a party, or any entity succeeding to the trust business of the
Warrant Agent, shall be the successor to the Warrant Agent hereunder without the
execution or filing of any paper or any further act of a party or the parties
hereto.

16. CHANGE OF WARRANT AGENT. The Warrant Agent may resign from its duties under
this Agreement upon notice given in writing by the Warrant Agent or the Company;
the Warrant Agent may be discharged by the Company from its duties under this
Agreement upon notice given in writing by the Company to the Warrant Agent; the
foregoing notices shall, in either case, give the date when such resignation or
discharge shall take effect and shall be sent at least thirty (30) days prior to
the date so specified. If the Warrant Agent shall resign, be discharged or shall
otherwise become incapable of acting, the Company shall appoint a successor to
the Warrant Agent. If the Company shall fail to make such appointment within a
period of thirty (30) days after it has been notified in writing of such
resignation or incapacity by the resigning or incapacitated Warrant Agent (or
by any Warrant Holder) or after discharging the Warrant Agent, then any Warrant
Holder may apply to the Circuit Court in and for Palm Beach County,

                                      -7-
<PAGE>   8

Florida, for the appointment of a successor to the Warrant Agent. Pending
appointment of a successor to the Warrant Agent, either by the Company or by
such Court, the duties of the Warrant Agent shall be carried out by the Company.
Any successor Warrant Agent shall be vested with the same powers, rights, duties
and responsibilities as if it had been originally named as Warrant Agent,
without further act or deed, and the former Warrant Agent shall deliver and
transfer to the successor Warrant Agent any property at the time held by it
thereunder, and execute and deliver any further assurance, conveyance, act or
deed necessary to effect the delivery or transfer. Failure to give any notice
provided for herein, or any defect therein, shall not affect the legality or
validity of the resignation or removal of the Warrant Agent or the appointment
of the successor Warrant Agent, as the case may be.

17. NOTICES. Any notice or demand authorized by this Agreement to be given or
made by the Warrant Agent or by any Warrant Holder to or on the Company shall be
sufficiently given or made if sent by first class mail, certified or registered,
postage prepaid, addressed (until another address is filed in writing by the
Company with the Warrant Agent), as follows:

                           Ackeeox Corp.
                           2835 North Military Trail
                           West Palm Beach, Florida 33409
                           Attn:  President

Any notice or demand authorized hereby to be given or made by any Warrant Holder
or by the Company to or on the Warrant Agent shall be sufficiently given or made
if sent by mail, first class, certified or registered, postage prepaid,
addressed (until another address is filed in writing by the Warrant Agent with
the Company), as follows:

                           Florida Atlantic Stock Transfer, Inc.
                           7130 Nob Hill Road
                           Tamarac, Florida 33321
                           Attn:  Rene Garcia

Any distribution, notice or demand required or authorized by this Agreement to
be given or made by the Company or the Warrant Agent to or on the Warrant
Holders shall be sufficiently given or made if sent by first class mail,
certified or registered, postage prepaid, addressed to the Warrant Holders at
their last known addresses as such addresses shall appear on the registration
books for the Warrant Certificates maintained by the Warrant Agent.

18. SUPPLEMENTS AND AMENDMENTS. The Company and the Warrant Agent may from time
to time supplement or amend this Agreement without the approval of any of the
Warrant Holders in order to

                                      -8-
<PAGE>   9

cure any ambiguity, or to correct or supplement any provision contained herein
which may be defective or inconsistent with any other provisions herein, or to
make any other provisions in regard to matters or questions arising hereunder
which the Company and the Warrant Agent may deem necessary or desirable.

19. SUCCESSORS. All the covenants and provisions of this Agreement by or for the
benefit of the Company or the Warrant Agent shall bind and inure to the benefit
of their respective successors and assigns.

20. TERMINATION. This Agreement shall terminate at the close of business on the
date upon which the Warrant Exercise Period expires as to all Warrants (or the
business day next following such date) or such earlier date upon which all of
the Warrants have been exercised; provided, however, that if exercise of the
Warrants is suspended pursuant to Section 9 and such suspension continues
beyond the date upon which the Warrant Exercise Period expires as to all
Warrants, this Agreement shall terminate on the business day immediately
following the expiration of such suspension. The provisions of Section 13 shall
survive such termination.

21. GOVERNING LAW. This Agreement and each Warrant Certificate issued hereunder
shall be deemed to be a contract made under the laws of the State of Florida and
for all purposes shall be construed in accordance with the internal laws of said
state.

22. BENEFITS OF AGREEMENT. Nothing in this Agreement shall be construed to give
to any person or entity other than the Company, the Warrant Agent and the
Warrant Holders, any legal or equitable right, remedy or claim hereunder, this
Agreement being expressly for the sole and exclusive benefit of the Company, the
Warrant Agent and the Warrant Holders.

23. COUNTERPARTS. This Agreement may be executed in counterparts, and both of
such counterparts shall for all purposes be deemed to be an original and both
such counterparts shall together constitute but one and the same instrument.

                      [THIS SPACE INTENTIONALLY LEFT BLANK]

                                      -9-
<PAGE>   10
IN WITNESS WHEREOF, the undersigned have caused this Agreement to be signed by
their duly authorized agents.

                                        ACKEEOX CORP.

                                        By: /s/ Jerold H. Kritchman
                                           -------------------------------------
                                           Jerold H. Kritchman, President

                                        FLORIDA ATLANTIC STOCK TRANSFER, INC.

                                        By:  /s/ Rene Garcia
                                            ------------------------------------
                                            Name: Rene Garcia
                                                 -------------------------------
                                            Title: President
                                                  ------------------------------

                                      -10-

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