Document:

Exhibit 10.2 The Bank of Venice Directors Stock Option Plan

    
      

      
Exhibit
      10.2

    
 

    THE
      BANK OF VENICE

    DIRECTORS’
      STOCK OPTION PLAN

    

    ARTICLE
      I

    

    Definitions

    

    As
      used
      herein, the following terms have the meanings hereinafter set forth unless
      the
      context clearly indicates to the contrary:

    

    (a) “Bank”
      shall mean The Bank of Venice, a Florida banking corporation. 

    

    (b) “Board”
      or “Board of Directors” shall mean the board of directors of the
      Bank.

    

    (c) “Change
      of Control” shall be deemed to have occurred if an entity or person (including a
“Group”) as defined in Section 13(d)(3) of the Securities Exchange Act of 1934,
      becomes the beneficial owner (as defined in Rule 13d-3 promulgated thereunder)
      of shares of Bank Stock having 50% or more of the total number of votes that
      may
      be cast for the election of directors of the Bank, except in connection with
      any
      transaction involving the formation of a bank holding company for the
      Bank.

    

    (d) “Code”
      shall mean the Internal Revenue Code of 1986, as amended, unless otherwise
      specifically provided herein.

    

    (e) “Director”
      shall mean any individual who is serving as a director of the Bank.

    

    (f) “Option”
      shall mean an option to purchase Stock granted by the Bank pursuant to the
      provisions of this Plan.

    

    (g) “Option
      Price” shall mean the purchase price of each share of Stock subject to Option,
      as defined in Section 5.2 hereof.

    

    (h) “Optionee”
      shall mean a Director who has received an Option granted by the Bank
      hereunder.

    

    (i) “Plan”
      shall mean this The Bank of Venice Directors’ Stock Option Plan.

    

    (j) “Service”
      shall mean the tenure of an individual as a Director of the Bank.

    

    (k) “Stock”
      shall mean the common stock of the Bank, par value $5.00 per share, or, in
      the
      event that the outstanding shares of Stock are hereafter changed into or
      exchanged for shares of a different class of stock or securities of the Bank
      or
      some other corporation, such other stock or securities.

    

    (l) “Stock
      Option Agreement” shall mean the agreement between the Bank and the Optionee
      under which the Optionee may purchase Stock pursuant to the Plan.

    

    (m) “Stock
      Option Committee” shall mean the Board.

    

    ARTICLE
      II

    

    The
      Plan

    

    2.1 Name.
      This
      plan shall be known as the “The Bank of Venice Directors’ Stock Option
      Plan.”

    

    2.2 Purpose.
      The
      purpose of the Plan is to advance the interests of the Bank and its shareholders
      by affording to the Directors of the Bank an opportunity to acquire or increase
      their proprietary interest in the Bank by the grant of Options to such Directors
      under the terms set forth herein in recognition of their efforts in connection
      with the organization and operation of the Bank. 

    

    2.3 Effective
      Date.
      The
      Plan shall become effective on the later of the approval of this Plan by (i)
      the
      Florida Department of Banking and Finance, or (ii) by the holders of a majority
      of the outstanding shares of Stock.

    

    2.4 Participants.
      Only
      Directors of the Bank shall be eligible to receive Options under the
      Plan.

    

    ARTICLE
      III

    

    Plan
      Administration

    

    3.1 Stock
      Option Committee.
      This
      Plan shall be administered by the Stock Option Committee. 

    

    3.2 Power
      of the Stock Option Committee.
      The
      Stock Option Committee shall have full authority and discretion: (a) to
      determine, consistent with the provisions of this Plan, which of the Employees
      will be granted Options to purchase any shares of Stock which may be issued
      and
      sold hereunder as provided in Section 4.1 hereof, the times at which Options
      shall be granted, and the number of shares of Stock covered by each Option;
      (b)
      to construe and interpret the Plan; (c) to determine the terms and provisions
      of
      each respective Stock Option Agreement, which need not be identical; and (d)
      to
      make all other determinations and take all other actions deemed necessary or
      advisable for the proper administration of the Plan. All such actions and
      determinations shall be conclusively binding upon all persons for all purposes.
      

    

    

    ARTICLE
      IV

    

    Shares
      of
      Stock Subject to Plan

    

    4.1 Limitations.
      Subject
      to adjustment pursuant to the provisions of Section 4.3 hereof, the number
      of
      shares of Stock which may be issued and sold hereunder pursuant to Stock Option
      Agreements shall not exceed Forty Two Thousand Three Hundred Ninety (42,390)
      shares. Shares issued pursuant to the exercise of Options may be either
      authorized and unissued shares or shares issued and thereafter acquired by
      the
      Bank.

    

    4.2 Options
      Granted Under Plan.
      Shares
      of Stock with respect to which an Option granted hereunder shall have been
      exercised shall not again be available for Option hereunder. If Options granted
      hereunder shall terminate for any reason without being wholly exercised, then
      the Stock Option Committee shall have the discretion to grant new Options to
      Optionees hereunder covering the number of shares to which such terminated
      Options related.

    

    4.3 Stock
      Adjustments; Mergers and Combinations.
      Notwithstanding any other provision in this Plan, if the outstanding shares
      of
      Stock are increased or decreased or changed into or exchanged for a different
      number or kind of shares or other securities of the Bank or of any other
      corporation by reason of any merger, sale of stock, consolidation, liquidation,
      recapitalization, reclassification, stock split up, combination of shares,
      or
      stock dividend, the total number of shares set forth in Section 4.1 shall be
      proportionately and appropriately adjusted by the Stock Option Committee. If
      the
      Bank continues in existence, the number and kind of shares that are subject
      to
      any Option and the Option Price per share shall be proportionately and
      appropriately adjusted without any change in the aggregate price to be paid
      therefor upon exercise of the Option. If the Bank will not remain in existence
      or a majority of its stock will be purchased or acquired by a single purchaser
      or group of purchasers acting together, then the Stock Option Committee may
      (i)
      declare that all Options shall terminate 30 days after the Stock Option
      Committee gives written notice to all Optionees of their immediate right to
      exercise all Options then outstanding (without regard to limitations on exercise
      otherwise contained in the Options), or (ii) notify all Optionees that all
      Options granted under the Plan shall apply with appropriate adjustments as
      determined by the Stock Option Committee to the securities of the successor
      corporation to which holders of the numbers of shares subject to such Options
      would have been entitled, or (iii) some combination of aspects of (i) and (ii).
      The determination by the Stock Option Committee as to the terms of any of the
      foregoing adjustments shall be conclusive and binding.

    

    4.4 Acceleration
      of Option Exercise.
      Subject
      to Section 4.3, upon dissolution or liquidation of the Bank, any merger or
      combination in which the Bank is not a surviving corporation, or sale of
      substantially all of the assets of the Bank is involved, or upon any Change
      of
      Control, the Optionee shall have the right to exercise his Option thereafter
      in
      whole or in part notwithstanding the provisions of Section 5.3 hereof, to the
      extent that it shall not have been exercised.

    

    

    ARTICLE
      V

    

    Options

    

    5.1 Option
      Grant and Agreement.
      Each
      Option granted hereunder shall be evidenced by minutes of a meeting of the
      Stock
      Option Committee authorizing the same and by a written Stock Option Agreement
      dated as of the date of grant and executed by the Bank and the Optionee, which
      Stock Option Agreement shall set forth such terms and conditions as may be
      determined by the Stock Option Committee to be consistent with the
      Plan.

    

    5.2 Option
      Price.
      Subject
      to adjustment pursuant to the provisions of Section 4.3 hereof, the Option
      Price
      of each share of Stock subject to Option shall be the greater of Ten and 00/100
      Dollars ($10.00) or the fair market value of the Stock on the date of grant.
      If
      the Stock is publicly held and actively traded in an established market on
      the
      date of grant, then the fair market value of the Stock on the date of grant
      shall be determined by the Board of Directors by any reasonable method using
      market quotations. If the Stock is not publicly held and actively traded in
      an
      established market on the date of grant, then the fair market value of the
      Stock
      on the date of grant shall be determined in good faith by the Board of Directors
      using any reasonable method. Notwithstanding the foregoing, at no time shall
      the
      exercise price be less than the fair market value of the shares on the date
      the
      Option is granted or the par value thereof as determined by the Board of
      Directors.

    

    5.3 Option
      Exercise.
      Options
      may be exercised in whole or in part from time to time with respect to whole
      shares only, within the period permitted for the exercise thereof. Each Option
      shall become exercisable in the following manner:

    

    
      	 	 	
              (a)

            	
              During
                the first five years after the date of grant of such Option, no portion
                of
                the Option shall be exercisable;
                and

            

    

    

    
      	 	 	
              (b)

            	
              During
                the sixth and each succeeding year after the date of grant of such
                Option,
                such Option shall be exercisable as to all shares covered by such
                Option.

            

    

    

    Notwithstanding
      any other provision in this Plan, no option granted under the Plan may be
      exercised more than ten (10) years after the date on which it is granted.
      Options shall be exercised by: (i) written notice of intent to exercise the
      Option with respect to a specific number of shares of Stock which is delivered
      by hand delivery or registered or certified mail, return receipt requested,
      to
      the Bank at its principal office; (ii) payment in full (by a check or money
      order payable to “The Bank of Venice”) to the Bank at such office of the amount
      of the Option Price for the number of shares of Stock with respect to which
      the
      Option is then being exercised; and (iii) delivery by the Optionee to the Bank
      of the signed Shareholder Agreement in the form of that attached to this Plan
      as
      Exhibit A. In addition to and at the time of payment of the Option Price, the
      Optionee shall pay to the Bank in cash the full amount of all federal, state,
      and local withholding or other employment taxes, if any, applicable to the
      taxable income of the Optionee resulting from such exercise, and any sales,
      transfer, or similar taxes imposed with respect to the issuance or transfer
      of
      shares of Stock in connection with such exercise.

    

    5.4 Nontransferability
      of Option.
      No
      Option shall be transferred by an Optionee otherwise than by will or the laws
      of
      descent and distribution. During the lifetime of an Optionee, the Option shall
      be exercisable only by him or by his legal guardian or personal
      representative.

    

    5.5 Effect
      of Death, Disability, Retirement, or Other Termination of
      Service.

    

    
      	 	 	
              (a)

            	
              If
                an Optionee’s Service with the Bank shall be terminated for any reason
                other than the retirement at age sixty-five (65) or the disability
                (as
                defined in Section 5.5(c) hereof) or death of the Optionee, then
                no
                Options held by such Optionee, which are unexercised in whole or
                in part,
                may be exercised on or after such termination of
                Service.

            

    

    

    
      	 	 	
              (b)

            	
              If
                an Optionee’s Service with the Bank shall be terminated by reason of
                retirement at age sixty-five (65) or the death or disability (as
                defined
                in Section 5.5(c) hereof) of the Optionee, then the Optionee or personal
                representative or administrator of the estate of the Optionee or
                the
                person or persons to whom an Option granted hereunder shall have
                been
                validly transferred by the personal representative or administrator
                pursuant to the Optionee’s will or the laws of descent and distribution,
                as the case may be, shall have the right to exercise the Optionee’s
                Options for ninety (90) days after the date of such termination,
                but only
                to the extent that such Options were exercisable at the date of such
                termination; provided,
                however,
                that if such retirement, death or disability occurs during the first
                five
                years following the date of grant of the Option, then, notwithstanding
                any
                other provision of this Plan, the Option shall be deemed exercisable
                to
                the extent of the product obtained by multiplying (i) the number
                of shares
                subject to the Options, by (ii) the quotient obtained by dividing
                the
                number of full months of the Optionee’s Service with the Bank prior to
                termination of Service, divided by 60.

            

    

    

    
      	 	 	
              (c)

            	
              For
                purposes of this Section 5.5, the terms “disability” and “disabled” shall
                have the meaning set forth in the principal disability insurance
                policy or
                similar program then maintained by the Bank on behalf of its employees
                or,
                if no such policy or program is then in existence, the meaning then
                used
                by the United States Government in determining persons eligible to
                receive
                disability payments under the social security system of the United
                States.

            

    

    

    
      	 	
              (d)

            	
              No
                transfer of an Option by the Optionee by will or by the laws of descent
                and distribution shall be effective to bind the Bank unless the Bank
                shall
                have been furnished with written notice thereof and an authenticated
                copy
                of the will and/or such other evidence as the Bank may deem necessary
                to
                establish the validity of the transfer and the acceptance by the
                transferee or transferees of the terms and conditions of such
                Option.

            

    

    

    5.6 Rights
      as Shareholder.
      An
      Optionee or a transferee of an Option shall have no rights as a shareholder
      with
      respect to any shares of Stock subject to such Option prior to the purchase
      of
      such shares by exercise of such Option as provided herein.

    

    5.7 Investment
      Intent.
      Upon or
      prior to the exercise of all or any portion of an Option, the Optionee shall
      furnish to the Bank in writing such information or assurances as, in the Bank’s
      opinion, may be necessary to enable it to comply fully with the Securities
      Act
      of 1933, as amended, and the rules and regulations thereunder and any other
      applicable statutes, rules, and regulations. Without limiting the foregoing,
      if
      a registration statement is not in effect under the Securities Act of 1933,
      as
      amended, with respect to the shares of Stock to be issued upon exercise of
      an
      Option, the Bank shall have the right to require, as a condition to the exercise
      of such Option, that the Optionee represent to the Bank in writing that the
      shares to be received upon exercise of such Option will be acquired by the
      Optionee for investment and not with a view to distribution and that the
      Optionee agree, in writing, that such shares will not be disposed of except
      pursuant to an effective registration statement, unless the Bank shall have
      received an opinion of counsel reasonably acceptable to it to the effect that
      such disposition is exempt from the registration requirements of the Securities
      Act of 1933, as amended. The Bank shall have the right to endorse on
      certificates representing shares of Stock issued upon exercise of an Option
      such
      legends referring to the foregoing representations and restrictions or any
      other
      applicable restrictions on resale or disposition as the Bank, in its discretion,
      shall deem appropriate.

    

    ARTICLE
      VI

    

    Stock
      Certificates

    

    The
      Bank
      shall not be required to issue or deliver any certificate for shares of Stock
      purchased upon the exercise of any Option granted hereunder or of any portion
      thereof, prior to fulfillment of all of the following conditions:

    

    (a) The
      admission of such shares to listing on all stock exchanges on which the Stock
      is
      then listed, if any;

    

    (b) The
      completion of any registration or other qualification of such shares under
      any
      federal or state law or under the rulings or regulations of the Securities
      and
      Exchange Commission or any other governmental regulatory agency, which the
      Bank
      shall in its sole discretion determine to be necessary or
      advisable;

    

    (c) The
      obtaining of any approval or other clearance from any federal or state
      governmental agency which the Bank shall in its sole discretion determine to
      be
      necessary or advisable; and

    

    (d) The
      lapse
      of such reasonable period of time following the exercise of the Option as the
      Bank from time to time may establish for reasons of administrative
      convenience.

    

    ARTICLE
      VII

    

    Termination,
      Amendment, and Modification of Plan

    

    The
      Board
      may at any time terminate, and may at any time and from time to time and in
      any
      respect amend or modify, the Plan; provided, however, that no such action of
      the
      Board without approval of the shareholders of the Bank may increase the total
      number of shares of Stock subject to the Plan except as contemplated in Section
      4.3 hereof or alter the class of persons eligible to receive Options under
      the
      Plan, and provided further that no termination, amendment, or modification
      of
      the Plan shall without the written consent of the Optionee of such Option
      adversely affect the rights of the Optionee with respect to an Option or the
      unexercised portion thereof.

    

    Notwithstanding
      any other provision of this Plan, the Bank’s primary federal bank regulator
      shall at any time have the right to direct the Bank to require Optionees to
      exercise their Options or forfeit their Options if the Bank’s capital falls
      below the minimum requirements, as determined by such federal bank
      regulator.

    

    ARTICLE
      VIII

    

    Miscellaneous

    

    8.1 Service.
      Nothing
      in the Plan or in any Option granted hereunder or in any Stock Option Agreement
      relating thereto shall confer upon any Director the right to continue in the
      Service of the Bank.

    

    8.2 Other
      Compensation Plans.
      The
      adoption of the Plan shall not affect any other stock option or incentive or
      other compensation plans in effect for the Bank, nor shall the Plan preclude
      the
      Bank from establishing any other forms of incentive or other compensation for
      directors, officers, or employees of the Bank.

    

    8.3 Plan
      Binding on Successors.
      The
      Plan shall be binding upon the successors and assigns of the Bank.

    

    8.4 Singular,
      Plural; Gender.
      Whenever used herein, nouns in the singular shall include the plural, and the
      masculine pronoun shall include the feminine gender.

    

    8.5 Applicable
      Law.
      This
      Plan shall be governed by and construed in accordance with the laws of the
      State
      of Florida.

    

    8.6 Headings,
      etc., No Part of Plan.
      Headings of Articles and Sections hereof are inserted for convenience and
      reference; they constitute no part of the Plan.

    

    8.7 Severability.
      If any
      provision or provisions of this Plan shall be held to be invalid, illegal,
      or
      unenforceable, the validity, legality, and enforceability of the remaining
      provisions shall not in any way be affected or impaired thereby.

    

    IN
      WITNESS WHEREOF, the undersigned President and Chief Executive Officer of the
      Bank has signed this Plan for and on behalf of the Bank.

    

    

    
      	 	 	 
	 	
              David
                F. Voigt

              President
                and Chief Executive Officer

            

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
      A

    The
      Bank of Venice

    240
      Nokomis Avenue, South

    Venice,
      Florida 34285

    

    SHAREHOLDER
      AGREEMENT

    

    In
      connection with the purchase by the undersigned Optionee of shares of The Bank
      of Venice (“Bank”) common stock (the “Shares”), the Optionee understands that
      the Bank has filed an election with the Internal Revenue Service to have the
      Bank treated as an S Corporation under the Internal Revenue Code. The Optionee
      also understands that this election must be signed by each shareholder of the
      Bank. Accordingly, the Optionee also has attached to this Agreement a completed
      S Corporation Election Form. In addition to signing the election, each Bank
      shareholder also must maintain eligibility to hold S corporation stock. The
      Optionee also understands that if the Bank shares are ever transferred by a
      Bank
      shareholder to an individual who is not eligible to own S corporation stock,
      then the Bank’s S corporation election will terminate. Accordingly, the Optionee
      understands the Bank is requiring each Bank shareholder to sign a form of this
      Agreement which will serve as an agreement between the Bank and the shareholder
      as to the shares of Common Stock owned by the shareholder, in order to preserve
      for the Bank and its shareholders the benefits of the S corporation
      election.

    

    The
      Optionee hereby represents, warrants and agrees to the Bank and the Bank
      shareholders as follows:

    

    	1.  	
            The
              Optionee is eligible to hold and own shares of an S Corporation under
              the
              Internal Revenue Code.

          

    

    	2.  	
            The
              Optionee has signed the form to be filed by the Bank with the Internal
              Revenue Service electing treatment by the Bank as an S corporation
              under
              the Internal Revenue Code and will promptly file any additional documents
              or agreements requested by the Bank relating to the S corporation
              election.

          

    

    	3.  	
            The
              Shares will not be transferred by the Optionee to any individual who
              is
              not eligible to own S Corporation stock. Prior to transferring any
              of the
              Shares, the Optionee will provide to the President of the Bank such
              documentation as the Bank in its sole discretion may require in order
              to
              assure that the proposed transfer is to an individual who is eligible
              to
              hold S corporation stock. If the individual is not so eligible, the
              Optionee will not transfer the Shares. The Optionee understands that
              the
              Shares may not be transferred by the Optionee to any entity, including
              any
              trust.

          

    

    	4.  	
            The
              Optionee understands that an S corporation can have no more than 75
              shareholders. As a result, the Optionee understands that there may
              be
              circumstances where the Optionee would like to transfer all or any
              part of
              the Shares to a person eligible to own S corporation stock, but the
              Optionee’s transfer, either alone or in combination with other transfers,
              may cause the number of Bank shareholders to exceed the limitation
              on the
              number of S corporation shareholders. The Optionee agrees that the
              Optionee will not transfer the Shares to more than one individual.
              The
              Optionee also understands that prior to registering any transfer of
              the
              Optionee’s Shares the Bank has the right to request from the Optionee’s
              attorney a legal opinion that the transfer of Shares is in compliance
              with
              the terms of this agreement, including that the transferee is an
              individual eligible to own S corporation
              stock.

          

    

    	5.  	
            The
              Optionee understands that this agreement is irrevocable and will survive
              the Optionee’s death or disability and will be binding upon the Optionee’s
              heirs, executors, administrators and permitted successors and assigns.
              The
              Optionee understands that any permitted transferee of the Shares will
              take
              such Shares subject to the terms of this agreement and must enter into
              an
              agreement with the Bank similar to this agreement prior to the Bank
              registering any transfer of the Shares.

          

    

    	6.  	
            The
              Optionee understands that the certificates for the Optionee’s Shares will
              be legended to reflect the agreements and restrictions on the transfer
              of
              the Optionee’s Shares set forth in this letter, and that the Bank will not
              register or recognize any transfer of the Shares in violation of this
              agreement. The Optionee agrees to promptly deliver to the Bank upon
              request by the Bank all certificates for the Optionee’s Shares in order
              that the Bank may place a legend on each such certificate in accordance
              with the foregoing.

          

    

    	7.  	
            The
              Optionee either alone or with the Optionee’s purchaser representative(s)
              has the knowledge and experience in financial and business matters
              that
              the Optionee is capable of evaluating the merits and risks of the purchase
              of the Shares.

          

    

    	8.  	
            The
              Optionee understands the consequences of the agreements set forth in
              this
              letter and will indemnify the Bank and its directors, officers and
              agents
              from and against all claims, damages, losses, costs and expenses
              (including reasonable attorneys’ fees) which they may incur, directly or
              indirectly, by reason of the failure by the Optionee to fulfill any
              of the
              terms and conditions of this agreement.

          

    

    IN
      WITNESS WHEREOF, the undersigned Optionee has signed this Shareholder Agreement
      this ___ day of ______________, 2002.

    

    
      	 	 	 
	 	
              (Signature
                of Optionee)

            	 
	 	 	 
	 	
              (Name
                of Optionee)<PAGE>

EXHIBIT 10.25

                            STOCK PURCHASE AGREEMENT

         THIS STOCK PURCHASE AGREEMENT (which together with the attached
exhibits, are referred to herein as "Agreement") is entered into by and between
Marketing Worldwide Corporation, a Delaware corporation (the "Company"),
Colortek Inc., a Michigan corporation ("Colortek"), and the selling stockholders
of Colortek, Patrick J. Smiarowski ("Smiarowski") and Grinstead Group, Inc., a
Kentucky corporation ("Grinstead") (collectively, the "Colortek Shareholders")
and Kathleen M. Smiarowski ("Kathy Smiarowski").

         WHEREAS, the Colortek Shareholders wish to sell and the Company desires
to purchase the Colortek Shares, as defined below, in exchange for newly issued
shares of common stock of the Company, as defined below, upon the terms and
conditions set forth in this Agreement.

         WHEREAS, the Company, Colortek, the Colortek Shareholders and Kathy
Smiarowski are willing to enter this Agreement based upon the representations
and warranties of each of them to the other(s), as set forth below.

         WHEREAS, the parties intend for the purchase and sale of the securities
under this Agreement to be exempt from registration under the Securities Act of
1933, as amended (the "Act"), based upon the exemptions found in Section 4(1)
and 4(2) of the Act.

         NOW, THEREFORE, in consideration of and in reliance on the mutual
promises and representations and warranties contained in this Agreement, and for
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the Colortek Shareholders and the Company agree as follows:

         1. Definitions

         1.1 "Associate" means with respect to any person, (i) any member of the
immediate family of such person, (ii) any entity of which such person, or any
member of the immediate family of such person, directly or indirectly, owns any
equity interest, (iii) any entity of which such person, or any member of the
immediate family of such person, serves as a director or executive officer, and
(iv) any entity that directly or indirectly controls, or that is directly or
indirectly controlled by or under common control with, such person or any member
of the immediate family of such person.

         1.2 "Company Disclosure Documents" means the Company Financials (as
defined herein), material agreements and corporate documents, and other
information related to the Company material to its operations for the two (2)
fiscal years ending September 30, 2006, and any and all interim data or filings
through the date hereof to be provided by the Company pursuant to this
Agreement, including but not limited to the Company Financials (as defined
herein) and other information required pursuant to the provisions of the
Securities Exchange Act of 1934 (the "'34 Act") or the Securities Act of 1933,
as amended (the "'33 Act").

         1.3 "Liabilities" means liabilities, obligations, or commitments of any
nature, absolute, accrued, contingent, or otherwise, known or unknown, whether
matured or unmatured.

<PAGE>

         1.4 "Colortek Shares" means one hundred percent (100%) the issued and
outstanding shares of Colortek, comprising 60,000 shares of common stock.

         1.5 "Company Shares" means Four Hundred Thousand (400,000) shares of
the Company's $.001 par value common stock with a restrictive legend.

         1.6 "Colortek Disclosure Documents" means the Colortek Financials as
defined herein.

         1.7 "Colortek Assets" means assets (excluding the books and records of
the Colortek Shareholders), properties, leases, contracts, agreements, and
rights of Colortek of every type and description, tangible and intangible,
including without limitation, all cash on hand and in banks.

         1.8 "Person" means any individual, corporation, professional
corporation, limited partnership, association, or any other legal entity through
which an individual or business might organize himself or itself.

         2. Purchase and Sale of Colortek Shares

         2.1 Purchase and Sale. Upon the terms and subject to the conditions of
this Agreement, on the Closing Date, as defined in Paragraph 3.1, the Colortek
Shareholders agree to sell and transfer the Colortek Shares to the Company, and
the Company agrees to purchase the Colortek Shares for the consideration set
forth in this Agreement.

         2.2 Purchase Price. In exchange for the Colortek Shares, the Company
shall issue and deliver to the Colortek Shareholders:

         (A) The Company Shares. The Company Shares delivered at Closing shall
be allocated 50% to Smiarowski, or his designees (200,000 shares) and 50% to
Grinstead (200,000 shares).

         3. Closing

         3.1 Date and Place. The closing of the delivery and transfer of the
Colortek Shares (the "Closing") shall occur on a date ("Closing Date") to be
mutually agreed upon by the Colortek Shareholders and the Company after exchange
of all books, records, financial information, documents, and other materials
reasonably deemed necessary to completion of the transaction contemplated under
this Agreement.

         3.2 Transactions and Document Exchange at Closing. At the Closing, the
following transactions shall occur and documents shall be exchanged, all of
which shall be deemed to occur simultaneously:

         (A) By Colortek and the Colortek Shareholders. Colortek and the
Colortek Shareholders will deliver, or cause to be delivered, to the Company:

         (1) The documents necessary to transfer the Colortek Shares to the
Company pursuant to this Agreement, in proper form and substance reasonably
acceptable to the Company, including the Assignments of Shares Separate from
Certificates shall be in the form set forth in Schedule 3.2(A)(1);

                                       2

<PAGE>

         (2) Such other documents, instruments, and/or certificates, if any, as
are required to be delivered pursuant to the provisions of this Agreement, or
which are reasonably determined by the parties to be required to effectuate the
transactions contemplated in this Agreement, or as otherwise may be reasonably
requested by the Company to further the intent of this Agreement;

         (3) The Colortek Shareholders shall also deliver or cause to be
delivered all books and records of Colortek to the extent available and
necessary to perform an audit of its book as of its most recent year end and all
interim periods prior to the Closing Date in accordance with Regulation S-X. The
books and records shall present fairly the financial condition and results of
operations of Colortek since August 30, 2005, in accordance with generally
accepted accounting principles applied on a basis consistent with prior
accounting periods.

         (B) By the Company. The Company will deliver, or cause the following to
be delivered, to the Colortek Shareholders:

         (1) Stock certificate(s) in the name of the Colortek Shareholders
aggregating 400,000 shares.

         (2) Such other documents, instruments, and/or certificates, if any, as
are required to be delivered pursuant to the provisions of this Agreement, or
which are reasonably determined by the parties to be required to effectuate the
transactions contemplated in this Agreement, or as otherwise may be reasonably
requested by the Colortek Shareholders in furtherance of the intent of this
Agreement.

         (C) By Colortek and Grinstead. Colortek and Grinstead will execute and
deliver to each other, or cause the following to be executed and delivered to
each other:

         (1) The Closing Agreement in the form set forth in Schedule 3.2(C)(1).

         (2) Such other documents, instruments, and/or certificates, if any, as
are required to be delivered pursuant to the provisions of this Agreement, or
which are reasonably determined by the parties to be required to effectuate the
transactions contemplated in this Agreement, or as otherwise may be reasonably
requested by Colortek or Grinstead in furtherance of the intent of this
Agreement.

         3.3 Post-Closing Documents. From time to time after the Closing, upon
the reasonable request of any party, the party to whom the request is made shall
deliver such other and further documents, instruments, and/or certificates as
may be necessary to more fully vest in the requesting party the consideration
provided for in this Agreement or to enable the requesting party to obtain the
rights and benefits contemplated by this Agreement, including but not limited to
delivery of records of all books and records of Colortek since inception .

         4. Representations, Warranties and Covenants of the Company

         The Company represents and warrants to the Colortek Shareholders and to
Kathy Smiarowski that:

                                       3

<PAGE>

         4.1 Organization and Authority. The Company is a corporation duly
incorporated, validly existing and in good standing under the laws of the State
of Delaware, with the corporate power and authority to carry on its business as
now being conducted. The execution and delivery of this Agreement and the
consummation of the transactions contemplated in this Agreement have been, or
will be prior to closing, duly authorized by all requisite corporate actions on
the part of the Company. This Agreement has been duly executed and delivered by
the Company and constitutes the valid, binding and enforceable obligation of the
Company.

         4.2 Ability to Carry Out Agreement. To the best of the Company's
knowledge and belief, the execution and performance of this Agreement will not
violate, or result in a breach of, or constitute a default in, any provisions of
applicable law, any agreement, instrument, judgment, order or decree to which
the Company is a party or to which the Company is subject. No consents of any
persons under any contract or agreement required to be disclosed pursuant to
this Agreement are required for the execution, delivery and performance by the
Company of this Agreement.

         4.3 Capitalization of the Company. The capitalization of the Company
is, as of the date hereof, comprised of One Hundred Million (100,000,000) shares
of authorized $.001 par value common stock of which Eleven Million Three Hundred
Sixty Three Thousand Eighty (11,363,080) shares are issued and outstanding, and
Ten Million (10,000,000) shares of $.001 par value preferred stock of which
Three Million Five Hundred Thousand (3,500,000) shares of Series A Convertible
Preferred Stock are issued and outstanding. All issued and outstanding shares
are legally issued, fully paid, and non-assessable, and are not issued in
violation of the preemptive or other right of any person.

         4.4 Financial Information. The Company has provided to the Colortek
Shareholders and to Kathy Smiarowski, or will provide prior to Closing, copies
of its Annual Report on Form 10-KSB for the year ending September 30, 2006,
interim reports on Form 10-QSB for the periods ended December 31, 2006 and March
31, 2007 and all current reports on Form 8-K since September 30, 2006. The
reports and all other information included in such reports shall be referred to
as the "Company Financials". The availability of the Company Financials on the
website maintained by the United States Securities and Exchange Commission at
www.sec.gov shall constitute delivery for the purpose of this Agreement. The
Company has no obligations or liabilities (whether accrued, absolute,
contingent, liquidated or otherwise, including without limitation any tax
liabilities due or to become due) which are not disclosed and adequately
provided for in the Company Financials, excepting current liabilities incurred
and obligations under agreements entered into in the usual and ordinary course
of business since the date of the Company Financials, none of which
(individually or in the aggregate) are material except as expressly indicated in
the Company Financials. The Company will use its best efforts to cause Colortek
to pay its Liabilities after the Closing in a timely manner.

         4.5 Opportunity to Ask Questions. The Company and its representatives
have been afforded an opportunity to ask questions of, and receive answers from,
Colortek and the Colortek Shareholders regarding Colortek, and to obtain
information to evaluate the risks and merits of the investment. All of the
Company's questions have been answered to the full satisfaction of the Company
and each representative of the Company.

                                       4

<PAGE>

         4.6 Document and Property Review. The Company confirms that all
documents, records and books pertaining to its proposed investment in the
Colortek Shares have been made available to the Company, and the Company and its
professional advisors have reviewed them, including, but not limited to the
Colortek Disclosure Documents, Colortek's Articles of Incorporation, By-Laws,
organizational resolutions, annual and periodic shareholders and directors
resolutions and meeting minutes, tax returns, bank records, financial
statements, correspondence, contracts and agreements with third parties.
Representatives of the Company have spent extensive time in the office and at
the facilities of the Colortek and have an intimate familiarity with the day to
operations of Colortek's business and the condition of all of Colortek's
equipment, business systems and accounting and bookkeeping methods and records.

         4.7 Investment Intent. The Company is purchasing the Colortek Shares
for investment and not with a view to resale and/or redistribution in a manner
which would require registration under the Securities Act of 1933 or any state
securities law; the Company does not now have any reason to anticipate any
change in circumstances which would cause the Company to dispose of the Colortek
Shares and the Company can afford to bear the economic risk of the investment in
the Colortek Shares for an indefinite period of time.

         4.8 No Securities Registration. The Company and each individual
constituting the Company is aware that the Colortek Shares have not been
registered and have not been reviewed, appraised, approved, or disapproved under
the Securities Act of 1933 or under any Federal or state securities laws and he
has no right to require such registration under the Securities Act of 1933 (the
"Act") or any Federal or state securities laws; that there is no public market
for the Colortek Shares and that it may not be possible to readily liquidate or
transfer the investment.

         4.9 Accredited Investor Status. The Company is an "Accredited
Investor," as defined in Rule 506 promulgated under the Securities Act of 1933,
with which definition the Company is familiar.

         5. Representations and Warranties of the Colortek Shareholders

         The Colortek Shareholders represent and warrant to the Company that:

         5.1 Organization and Authority. To the best of their knowledge,
information, and belief formed after reasonable inquiry, Colortek is a
corporation duly organized, validly existing and in good standing under the laws
of the State of Michigan, with the power and authority to carry on its business
as now being conducted.

         5.2 Ability to Carry out Agreement. To the best of the Colortek
Shareholders' knowledge and belief formed after reasonable inquiry, the
execution and performance of this Agreement will not violate, or result in a
breach of, or constitute a default in, any provisions of applicable law, any
agreement, instrument, judgment, order or decree to which Colortek is a party or
to which Colortek is subject, other than such violations, breaches, or defaults
which, singly or in the aggregate, do not have a material adverse effect on its
business as a whole or on the enforceability or validity of this Agreement. No
consents of any persons under any contract or agreement required to be disclosed
or disclosed pursuant to this Agreement are required for the execution, delivery
and performance by the Colortek Shareholders of this Agreement.

         5.3 Capitalization of Colortek. As of the date of execution of this
Agreement, the capitalization of Colortek is comprised of one class of capital
stock consisting of Sixty (60,000) shares of common stock, of which 60,000

                                       5

<PAGE>

shares were issued and are presently outstanding and held, of record, by the
Colortek Shareholders. All of the issued and outstanding shares are duly
authorized, validly issued, fully paid, and have been offered, issued, sold, and
delivered by Colortek in material compliance with all applicable federal and
state securities laws.

         5.4. Corporate Records. Copies of all other corporate books and
records, including but not limited to stock transfer ledgers, and any other
documents and records of Colortek will be provided to the Company at Closing.
Attached hereto as Schedule 5.4 are true and correct copies of the Articles of
Incorporation, as amended, of Colortek, Inc., the Bylaws of Colortek, Inc., and
the Corporate Minute Book of Colortek, Inc.

         6. Representations and Warranties of Colortek. Colortek represents and
warrants, to the best of Colortek's knowledge, information and belief formed
after reasonable inquiry, that Colortek has provided to the Company, or will
provide prior to Closing, financial statements of Colortek for all fiscal years
ended since the inception of Colortek and reports for such interim periods
ending since the latest fiscal year ended, and such other documents and
information relating to Colortek's current financial condition including but not
limited to its purchase, operation and disposition, if any, of any assets and
liabilities. Such financial statements and other financial information shall be
referred to as the "Colortek Financials". Attached hereto as Schedule 6 is a
true and correct copy of the Colortek Financials, which reflect all assets and
liabilities, including any contingent liabilities of Colortek.

         7. Representations and Warranties of Grinstead. Grinstead represents
and warrants to Colortek, to the Company, to Smiarowski and to Kathy Smiarowski
that:

         7.1 Ability to Carry out Agreement. To the best of Grinstead's
knowledge and belief formed after reasonable inquiry, the execution and
performance of this Agreement will not violate, or result in a breach of, or
constitute a default in, any provisions of applicable law, any agreement,
instrument, judgment, order or decree to which Grinstead is a party or to which
Grinstead is subject, other than such violations, breaches, or defaults which,
singly or in the aggregate, do not have a material adverse effect on its
business as a whole or on the enforceability or validity of this Agreement. No
consents of any persons under any contract or agreement required to be disclosed
or disclosed pursuant to this Agreement are required for the execution,
delivery, and performance by Grinstead of this Agreement.

         7.2 Debt for Equity Exchange Agreement and Historical Debt Obligation
Release. Colortek, Smiarowski and Kathy Smiarowski are no longer liable to
Grinstead for any claims based on or arising out of that certain $757,000
obligation (the "Historical Debt Obligation"); provided, however, that Colortek
shall remain obligated to Grinstead under the Supply Agreement referenced in
Section 7.3 below. Grinstead voluntarily converted the Historical Debt
Obligation into 50% of the outstanding Colortek Shares and agreed to file a
Release of Lien on the Historical Debt Obligation pursuant to a Debt for Equity
Exchange Agreement dated as of March 15, 2007, a true and correct copy of which
is set forth as an Exhibit to the Closing Agreement between Colortek and
Grinstead that appears in Schedule 3.2(C)(1). Grinstead has not released any
other claims against Colortek, save and except the Historical Debt Obligation.
Grinstead expects to be paid in the ordinary course of business as an ongoing
supplier to Colortek., and, for example, it is understood that the Historical
Debt Obligation shall not include the current liabilities set forth on the April
30, 2007 Statement from Grinstead to Colortek and liabilities relating to any
Colortek purchases from Grinstead during the month of May, 2007. Attached hereto
in Schedule 7.2 is a true and correct copy the Grinstead Release of Lien on the
Historical Debt Obligation.

                                       6

<PAGE>

         7.3. Supply Agreement. The terms and conditions of the Supply Agreement
described in the attached Schedule 7.3 accurately reflect the supply agreement
between Colortek and Grinstead, and Grinstead shall execute and deliver such
additional documentation to Colortek as Colortek may require to evidence such
Agreement. 2 Company and Colortek Indemnification.

         8. The Company and Colortek will indemnify, defend and hold harmless
Patrick Smiarowski and Kathy Smiarowski (the "Indemnitees") from and shall
reimburse the Indemnitees for any and all actions, claims, losses, demands,
damages (including incidental and consequential damages), suits, obligations,
liabilities, costs (including costs of settlement), expenses (including
attorneys' fees), charges and Liabilities, whether foreseen or unforeseen, fixed
or contingent, known or unknown, which the Indemnitees may incur or which may be
imposed upon the Indemnitees as a consequence of or which relates in any way to
(a) the breach by the Company of any representation, warranty or covenant of
this Agreement,

         9. Employment Agreements. At the Closing, Colortek shall enter into
Employment Agreements with Smiarowski and Kathy Smiarowski that specify the
terms and conditions of the employment relationship between Colortek and
Smiarowski and between Colortek and Kathy Smiarowski, which Employment
Agreements shall be in the forms attached hereto in Schedule 9 and hereby made a
part hereof. As partial consideration for entering the Employment Agreements,
Patrick Smiarowski and Kathy Smiarowski hereby fully release the Company and the
Company hereby fully releases Smiarowski and Kathy Smiarowski, from any and all
claims, known or unknown, arising prior to the date of this Agreement.

         10. Securities Registration; Disclosure

         The Colortek Shareholders understand that the securities issued by the
Company pursuant to this Agreement, have not been nor will they be registered
under the Securities Act of 1933 as amended ("'33 Act"), but are issued pursuant
to exemptions from registration including but not limited to Section 4(2) of the
'33 Act, and the Company's reliance on such exemptions in issuing the securities
is predicated in part on the representations of the Colortek Shareholders.

         Each of the Colortek Shareholders represents that, by virtue of their
respective economic bargaining power or otherwise, he/she has had access to or
have been furnished with, prior to or concurrently with Closing, the same kind
of information that would be available in a registration statement under the '33
Act should registration of the securities issued pursuant to this Agreement have
been necessary, and that they have had the opportunity to ask questions of and
receive answers from the Company's officers and directors, or any party acting
on their behalf, concerning the business of the Company and that they have had
the opportunity to obtain any additional information, to the extent that the
Company possesses such information or can acquire it without unreasonable
expense or effort, necessary to verify the accuracy of information obtained or
furnished by the Company.

         The Colortek Shareholders understand the Company Shares shall contain a
Rule 144 legend in substantially the form set forth below.

                                       7

<PAGE>

         THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE SECURITIES ACT OF 1933 (THE "ACT") AND ARE "RESTRICTED
         SECURITIES" AS THAT TERM IS DEFINED IN RULE 144 UNDER THE ACT. THE
         SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED
         EXCEPT PURSUANT TO A REGISTRATION STATEMENT UNDER THE ACT OR PURSUANT
         TO AN EXEMPTION FROM REGISTRATION UNDER THE ACT, THE AVAILABILITY OF
         WHICH IS TO BE ESTABLISHED TO THE SATISFACTION OF THE COMPANY.

         11. Miscellaneous Provisions

         11.1 Survival of Representations and Warranties. All representations,
warranties, and covenants made by any party in this Agreement shall survive the
Closing hereunder and the consummation of the transactions contemplated hereby
for one (1) year from the Closing Date.

         11.2 Further Assurances. At any time and from time to time, after the
effective date, each party will execute such additional instruments and take
such action as may be reasonably requested by the other party to confirm or
perfect title to any property transferred hereunder or otherwise to carry out
the intent and purposes of this Agreement.

         11.3 Waiver. Any failure of any party to this Agreement to comply with
any of its obligations, agreements or conditions hereunder may be waived in
writing by the party to whom such compliance is owed. The failure of any party
to this Agreement to enforce at any time any of the provisions of this Agreement
shall in no way be construed to be a waiver of any such provision or a waiver of
the right of such party thereafter to enforce each and every such provision. No
waiver of any breach of or non-compliance with this Agreement shall be held to
be a waiver of any other or subsequent breach or non-compliance.

         11.4 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.

         11.5 Governing Law. This Agreement shall be governed by the laws of the
United States, State of Michigan.

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

                                       8

<PAGE>

                                        "Company"

                                        MARKETING WORLDWIDE CORPORATION

                                        By: /s/ James C. Marvin
                                            ---------------------------------
                                        Name: James C. Marvin
                                        Title: Chief Financial Officer

                                        "Colortek"

                                        COLORTEK, INC.

                                        By: /s/ Patrick J. Smiarowski
                                            ---------------------------------
                                        Name: Patrick J. Smiarowski
                                        Title: President

                                        "Colortek Shareholders"

                                        /s/ Patrick J. Smiarowski
                                        -------------------------------------
                                        PATRICK J. SMIAROWSKI
                                        Owner of 30,000 Colortek shares

                                        GRINSTEAD GROUP, INC.

                                        By: /s/ C.B. Young
                                            ---------------------------------
                                        Name: C.B. Young, CEO
                                        Owner of 30,000 Colortek shares

                                        "Kathy Smiarowski"

                                        /s/ Kathleen M. Smiarowski
                                        -------------------------------------
                                        KATHLEEN M. SMIAROWSKI

                                       9

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