Document:

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                                  EXHIBIT 10.15

                               REMEDENT USA, INC.

                2001 INCENTIVE AND NONSTATUTORY STOCK OPTION PLAN

1.       PURPOSE

         This Incentive and Nonstatutory Stock Option Plan (the "Plan") is
intended to further the growth and financial success of Remedent USA, Inc., a
Nevada corporation (the "Corporation") by providing additional incentives to
selected employees, directors, and consultants to the Corporation or parent
corporation or subsidiary corporation of the Corporation as those terms are
defined in Sections 424(e) and 424(f) of the Internal Revenue Code of 1986, as
amended (the "Code") (such parent corporations and subsidiary corporations
hereinafter collectively referred to as "Affiliates") so that such employees and
consultants may acquire or increase their proprietary interest in the
Corporation. Stock options granted under the Plan (hereinafter "Options") may be
either "Incentive Stock Options," as defined in Section 422A of the Code and any
regulations promulgated under said Section, or "Nonstatutory Options" at the
discretion of the Board of Directors of the Corporation (the "Board") and as
reflected in the respective written stock option agreements granted pursuant
hereto.

2.       ADMINISTRATION

         The Plan shall be administered by the Board of Directors of the
Corporation; provided however, that the Board may delegate such administration
to a committee of not fewer than three (3) members (the "Committee"), at least
two (2) of whom are members of the Board and all of whom are disinterested
administrators, as contemplated by Rule 16b-3 promulgated under the Securities
Exchange Act of 1934, as amended ("Rule 16b-3"); and provided further, that the
foregoing requirement for disinterested administrators shall not apply prior to
the date of the first registration of any of the securities of the Corporation
under the Securities Act of 1933, as amended.

         Subject to the provisions of the Plan, the Board and/or the Committee
shall have authority to (a) grant, in its discretion, Incentive Stock Options in
accordance with Section 422A of the Code or Nonstatutory Options; (b) determine
in good faith the fair market value of the stock covered by an Option; (c)
determine which eligible persons shall be granted Options and the number of
shares to be covered thereby and the term thereof; (d) construe and interpret
the Plan; (e) promulgate, amend and rescind rules and regulations relating to
its administration, and correct defects, omissions, and inconsistencies in the
Plan or any Option; (f) consistent with the Plan and with the consent of the
optionee, as appropriate, amend any outstanding Option or amend the exercise
date or dates thereof; (g) determine the duration and purpose of leaves of
absence which may be granted to optionholders without constituting termination
of their employment for the purpose of the Plan; and (h) make all other
determinations necessary or advisable for the Plan's administration. The
interpretation and construction by the Board of any provisions of the Plan or of
any Option it shall be conclusive and final. No member of the Board or the
Committee shall be liable for any action or determination made in good faith
with respect to the Plan or any Option.

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3.       ELIGIBILITY

         The persons who shall be eligible to receive Options shall be
employees, directors, or consultants of the Corporation or any of its Affiliates
("Optionees"). The term consultant shall mean any person who is engaged by the
Corporation to render services and is compensated for such services, and any
director of the Corporation whether or not compensated for such services;
provided that, if the Corporation registers any of its securities pursuant to
the Securities Act of 1933, as amended (the "Act"), the term consultant shall
thereafter not include directors who are not compensated for their services or
are paid only a director fee by the Corporation.

                  (a)      INCENTIVE STOCK OPTIONS. Incentive Stock Options may
only be issued to employees of the Corporation or its Affiliates. Incentive
Stock Options may be granted to officers, whether or not they are directors, but
a director shall not be granted an Incentive Stock Option unless such director
is also an employee of the Corporation. Payment of a director fee shall not be
sufficient to constitute employment by the Corporation. Any grant of option to
an officer or director of the Corporation subsequent to the first registration
of any of the securities of the Corporation under the Act shall comply with the
requirements of Rule 16b-3. An optionee may hold more than one Option.

                  The Corporation shall not grant an Incentive Stock Option
under the Plan to any employee if such grant would result in such employee
holding the right to exercise for the first time in any one calendar year, under
all options granted to such employee under the Plan or any other stock option
plan maintained by the Corporation or any Affiliate, with respect to shares of
stock having an aggregate fair market value, determined as of the date of the
Option is granted, in excess of one hundred thousand dollars ($100,000). Should
it be determined that an Incentive Stock Option granted under the Plan exceeds
such maximum for any reason other than a failure in good faith to value the
stock subject to such option, the excess portion of such option shall be
considered a Nonstatutory Option. If, for any reason, an entire option does not
qualify as an Incentive Stock Option by reason of exceeding such maximum, such
option shall be considered a Nonstatutory Option.

                  (b)      NONSTATUTORY OPTION. The provisions of the foregoing
Section 3(a) shall not apply to any option designated as a "Nonstatutory Stock
Option Agreement" or which sets forth the intention of the parties that the
option be a Nonstatutory Option.

4.       STOCK

         The stock subject to Options shall be the shares of the Corporation's
authorized but unissued or reacquired Common Stock (the "Stock").

                  (a)      NUMBER OF SHARES. Subject to adjustment as provided
in Paragraph 5(h) of this Plan, the total number of shares of Stock which may be
purchased through exercise of Options granted under this Plan shall not exceed
five million (5,000,000) shares. If any Option shall for any reason terminate or
expire, any shares allocated thereto but remaining unpurchased upon such
expiration or termination shall again be available for the grant of Options with
respect thereto under this Plan as though no Option had been granted with
respect to such shares.

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                  (b)      RESERVATION OF SHARES. The Corporation shall reserve
and keep available at all times during the term of the Plan such number of
shares as shall be sufficient to satisfy the requirements of the Plan. If, after
reasonable efforts, which efforts shall not include the registration of the Plan
or Options under the Act, the Corporation is unable to obtain authority from any
applicable regulatory body, which authorization is deemed necessary by legal
counsel for the Corporation for the lawful issuance of shares hereunder, the
Corporation shall be relieved of any liability with respect to its failure to
issue and sell the shares for which such requisite authority was so deemed
necessary unless and until such authority is obtained.

5.       TERMS AND CONDITIONS OF OPTIONS

         Options granted hereunder shall be evidenced by agreements between the
Corporation and the respective Optionees, in such form and substance as the
Board or Committee shall from time to time approve. Such agreements need not be
identical, and in each case may include such provisions as the Board or
Committee may determine, but all such agreements shall be subject to and limited
by the following terms and conditions:

                  (a)      NUMBER OF SHARES: Each Option shall state the number
of shares to which it pertains.

                  (b)      OPTION PRICE: Each Option shall state the Option
Price, which shall be determined as follows:

                           (i)      Any Option granted to a person who at the
time the Option is granted owns (or is deemed to own pursuant to Section 424(d)
of the Code) stock possessing more than ten percent (10%) of the total combined
voting power of value of all classes of stock of the Corporation, or of any
Affiliate, ("Ten Percent Holder") shall have an Option Price of no less than one
hundred ten percent (110%) of the fair market value of the common stock as of
the date of grant; and

                           (ii)     Incentive Stock Options granted to a person
who at the time the Option is granted is not a Ten Percent Holder shall have an
Option price of no less than one hundred percent (100%) of the fair market value
of the common stock as of the date of grant.

                           (iii)    Nonstatutory Options granted to a person who
at the time the Option is granted is not a Ten Percent Holder shall have an
Option Price determined by the Board as of the date of grant.

                  For the purposes of this paragraph 5(b), the fair market value
shall be as determined by the Board, in good faith, which determination shall be
conclusive and binding; provided however, that if there is a public market for
such stock, the fair market value per share shall be the average of the bid and
asked prices (or the closing price if such stock is listed on the NASDAQ
National Market System) on the date of grant of the Option, or if listed on a
stock exchange, the closing price on such exchange on such date of grant.

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                  (c)      MEDIUM AND TIME OF PAYMENT: To the extent permissible
by applicable law, the Option price shall be paid, at the discretion of the
Board, at either the time of grant or the time of exercise of the Option (i) in
cash or by check, (ii) by delivery of other common stock of the Corporation,
provided such tendered stock was not acquired directly or indirectly from the
Corporation, or, if acquired from the Corporation, has been held by the Optionee
for more than six (6) months, (iii) by the Optionee's promissory note in a form
satisfactory to the Corporation and bearing interest at a rate determined by the
Board, in its sole discretion, but in no event less than 6% per annum, or (iv)
such other form of legal consideration permitted by State law as may be
acceptable to the Board.

                  (d)      TERM AND EXERCISE OF OPTIONS: Any Option granted to
an Employee of the Corporation shall become exercisable over a period of no
longer than ten (10) years, and no less than twenty percent (20%) of the shares
covered thereby shall become exercisable annually. No Option shall be
exercisable, in whole or in part, prior to one (1) year from the date it is
granted unless the Board shall specifically determine otherwise, as provided
herein. In no event shall any Option be exercisable after the expiration of ten
(10) years from the date it is granted. Unless otherwise specified by the Board
or the Committee in the resolution authorizing such option, the date of grant of
an Option shall be deemed to be the date upon which the Board or the Committee
authorizes the granting of such Option.

                  Each Option shall be exercisable to the nearest whole share,
in installments or otherwise, as the respective option agreements may provide.
During the lifetime of an Optionee, the Option shall be exercisable only by the
Optionee and shall not be assignable or transferable by the Optionee, and no
other person shall acquire any rights therein. To the extent not exercised,
installments (if more than one) shall accumulate, but shall be exercisable, in
whole or in part, only during the period for exercise as stated in the option
agreement, whether or not other installments are then exercisable.

                  (e)      TERMINATION OF STATUS AS EMPLOYEE, DIRECTOR, OR
CONSULTANT: If Optionee's status as an employee, director, or consultant shall
terminate for any reason other than Optionee's death, then the Optionee (or if
the Optionee shall die after such termination, but prior to exercise, Optionee's
personal representative or the person entitled to succeed to the Option) shall
have the right to exercise any vested Options, in whole or in part, at any time
within thirty (30) days after such termination (or in the event Optionee's
termination was caused by permanent disability (within the meaning of Section
22(e)(3) of the Code) this 30-day period shall be extended to six (6) months) or
the remaining term of the Option, whichever is the lesser; provided, however,
that with respect to Nonstatutory Options, the Board may specify such longer
period, not to exceed six (6) months, for exercise following termination as the
Board deems reasonable and appropriate. The Option may be exercised only with
respect to installments that the Optionee could have exercised at the date of
termination of employment. Nothing contained herein or in any Option granted
pursuant hereto shall be construed to affect or restrict in any way the right of
the Corporation to terminate the employee of an Optionee with or without cause.

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                  (f)      DEATH OF OPTIONEE: If an Optionee dies while employed
or engaged as a director or consultant by the Corporation or an Affiliate, the
portion of such Optionee's Option or Options which were exercisable at the date
of death may be exercised, in whole or in part, by the estate of the decedent or
by a person succeeding to the right to exercise such Option or Options, at any
time within the remaining term of the Option, but only to the extent, that
Optionee could have exercised the Option as of the date of Optionee's death;
provided, in any case, that the Option may be so exercised only to the extent
that the Option has not previously been exercised by Optionee.

                  (g)      NONTRANSFERABILITY OF OPTION: No Option shall be
transferable by the Optionee, except by will or by the laws of descent and
distribution.

                  (h)      RECAPITALIZATION: Subject to any required action by
the stockholders, the number of shares of common stock covered by each
outstanding Option, and the price per share thereof set forth in each such
Option, shall be proportionately adjusted for any increase or decrease in the
number of issued shares of common stock of the Corporation resulting from a
subdivision or consolidation of shares or the payment of a stock dividend, or
any other increase or decrease in the number of such shares affected without
receipt of consideration by the Corporation.

                  Subject to any required action by the stockholders, if the
Corporation shall be the surviving entity in any merger or consolidation, each
outstanding Option thereafter shall pertain to and apply to the securities to
which a holder of shares of common stock equal to the shares subject to the
Option would have been entitled by reason of such merger or consolidation. A
dissolution or liquidation of the Corporation or a merger or consolidation in
which the Corporation is not the surviving entity shall cause each outstanding
Option to terminate on the effective date of such dissolution, liquidation,
merger or consolidation. In such event, if the entity which shall be the
surviving entity does not tender to Optionee an offer, for which it has no
obligation to do so, to substitute for any unexercised Option a stock option or
capital stock of such surviving entity, as applicable, which on an equitable
basis shall provide the Optionee with substantially the same economic benefit as
such unexercised Option, then the Board may grant to such Optionee, but shall
not be obligated to do so, the right for a period commencing thirty (30) days
prior to and ending immediately prior to such dissolution, liquidation, merger
or consolidation or during the remaining term of the Option, whichever is the
lesser, to exercise any unexpired Option or Options, without regard to the
installment provisions of Paragraph 5(d) of this Plan; provided, that any such
right granted shall be granted to all Optionees not receiving an offer to
substitute on a consistent basis, and provided further, that any such exercise
shall be subject to the consummation of such dissolution, liquidation, merger or
consolidation.

                  In the event of a change in the common stock of the
Corporation as presently constituted, which is limited to a change of all of its
authorized shares without par value into the same number of shares with a par
value, the shares resulting from any such change shall be deemed to be the
common stock within the meaning of this Plan.

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                  To the extent that the foregoing adjustments relate to stock
or securities of the Corporation, such adjustments shall be made by the Board,
whose determination in that respect shall be final, binding and conclusive.
Except as expressly provided in this Paragraph 5(h), the Optionee shall have no
rights by reason of any subdivision or consolidation of shares of stock or any
class or the payment of any stock dividend or any other increase or decrease in
the number of shares of stock of any class, and the number or price of shares of
common stock subject to any Option shall not be affected by, and no adjustment
shall be made by reason of, any dissolution, liquidation, merger or
consolidation, or any issue by the Corporation of shares of stock of any class
or securities convertible into shares of stock of any class.

                  The grant of an Option pursuant to the Plan shall not affect
in any way the right or power of the Corporation to make any adjustments,
reclassifications, reorganizations or changes in its capital or business
structure or to merge, consolidate, dissolve, or liquidate or to sell or
transfer all or any part of its business or assets.

                  (i)      RIGHTS AS A STOCKHOLDER: An Optionee shall have no
rights as a stockholder with respect to any shares covered by an Option until
the date of the issuance of a stock certificate to Optionee for such shares. No
adjustment shall be made for dividends (ordinary or extraordinary, whether in
cash, securities or other property) or distributions or other rights for which
the record date is prior to the date such stock certificate is issued, except as
expressly provided in Paragraph 5(h) hereof.

                  (j)      MODIFICATION, ACCELERATION, EXTENSION, AND RENEWAL OF
OPTIONS: Subject to the terms and conditions and within the limitations of the
Plan, the Board may modify an Option, or once an Option is exercisable,
accelerate the rate at which it may be exercised, and may extend or renew
outstanding Options granted under the Plan or accept the surrender of
outstanding Options (to the extent not theretofore exercised) and authorize the
granting of new Options in substitution for such Options, provided such action
is permissible under Section 422A of the Code and state law.

                  Notwithstanding the foregoing provisions of this Paragraph
5(j), however, no modification of an Option shall, without the consent of the
Optionee, alter to the Optionee's detriment or impair any rights or obligations
under any Option theretofore granted under the Plan.

                  (k)      INVESTMENT INTENT: Unless and until the issuance and
sale of the shares subject to the Plan are registered under the Act, each Option
under the Plan shall provide that the purchases of stock thereunder shall be for
investment purposes and not with a view to, or for resale in connection with,
any distribution thereof. Further, unless the issuance and sale of the stock
have been registered under the Act, each Option shall provide that no shares
shall be purchased upon the exercise of such Option unless and until (i) any
then applicable requirements of state and federal laws and regulatory agencies
shall have been fully complied with to the satisfaction of the Corporation and
its counsel, and (ii) if requested to do so by the Corporation, the person
exercising the Option shall (i) give written assurances as to knowledge and
experience of such person (or a representative employed by such person) in
financial and business matters and the ability of such person (or
representative) to evaluate the merits and risks of exercising the Option, and
(ii) execute and deliver to the Corporation a letter of investment intent, all
in such

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form and substance as the Corporation may require. If shares are issued upon
exercise of an Option without registration under the Act, subsequent
registration of such shares shall relieve the purchaser thereof of any
investment restrictions or representations made upon the exercise of such
Options.

                  (l)      EXERCISE BEFORE EXERCISE DATE: At the discretion of
the Board, the Option may, but need not, include a provision whereby the
Optionee may elect to exercise all or any portion of the Option prior to the
stated exercise date of the Option or any installment thereof. Any shares so
purchased prior to the stated exercise date shall be subject to repurchase by
the Corporation upon termination of Optionee's employment as contemplated by
Paragraphs 5(e), 5(f) and 5(g) hereof prior to the exercise date stated in the
Option and such other restrictions and conditions as the Board or Committee may
deem advisable.

                  (m)      OTHER PROVISIONS: The Option agreements authorized
under this Plan shall contain such other provisions, including, without
limitation, restrictions upon the exercise of the Options, as the Board or the
Committee shall deem advisable. Shares shall not be issued pursuant to the
exercise of an Option, if the exercise of such Option or the issuance of shares
thereunder would violate, in the opinion of legal counsel for the Corporation,
the provisions of any applicable law or the rules or regulations of any
applicable governmental or administrative agency or body, such as the Act, the
Securities Exchange Act of 1934, the rules promulgated under the foregoing or
the rules and regulations of any exchange upon which the shares of the
Corporation are listed.

6.       AVAILABILITY OF INFORMATION

         During the term of the Plan and any additional period during which an
Option granted pursuant to the Plan shall be exercisable, the Corporation shall
make available, not later than one hundred and twenty (120) days following the
close of each of its fiscal years, such financial and other information
regarding the Corporation as is required by the bylaws of the Corporation and
applicable law to be furnished in an annual report to the stockholders of the
Corporation.

7.       EFFECTIVENESS OF PLAN; EXPIRATION

         Subject to approval by the stockholders of the Corporation, this Plan
shall be deemed effective as of the date it is adopted by the Board. The Plan
shall expire on March 15, 2011, but such expiration shall not affect the
validity of outstanding Options.

8.       AMENDMENT AND TERMINATION OF THE PLAN

         The Board may, insofar as permitted by law, from time to time, with
respect to any shares at the time not subject to Options, suspend or terminate
the Plan or revise or amend it in any respect whatsoever, except that without
the approval of the stockholders of the Corporation, no such revision or
amendment shall (i) increase the number of shares subject to the Plan, (ii)
decrease the price at which Options may be granted, (iii) materially increase
the benefits to Optionees, or (iv) change the class of persons eligible to
receive Options under this Plan; provided, however, no such action shall alter
or impair the rights and obligations under any Option outstanding as of the date
thereof without the written consent of the Optionee thereunder.

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No Option may be granted while the Plan is suspended or after it is terminated,
but the rights and obligations under any Option granted while the Plan is in
effect shall not be impaired by suspension or termination of the Plan.

9.       INDEMNIFICATION OF BOARD

         In addition to such other rights or indemnifications as they may have
as directors or otherwise, and to the extent allowed by applicable law, the
members of the Board and the Committee shall be indemnified by the Corporation
against the reasonable expenses, including attorneys' fees, actually and
necessarily incurred in connection with the defense of any claim, action, suit
or proceeding, or in connection with any appeal thereof, to which they or any of
them may be a party by reason of any action taken, or failure to act, under or
in connection with the Plan or any Option granted thereunder, and against all
amounts paid by them in settlement thereof (provided such settlement is approved
by independent legal counsel selected by the Corporation) or paid by them in
satisfaction of a judgment in any such claim, action, suit or proceeding, except
in any case in relation to matters as to which it shall be adjudged in such
claim, action, suit or proceeding that such Board member is liable for
negligence or misconduct in the performance of his or her duties; provided that
within sixty (60) days after institution of any such action, suit or Board
proceeding the member involved shall offer the Corporation, in writing, the
opportunity, at its own expense, to handle and defend the same.

10.      APPLICATION OF FUNDS

         The proceeds received by the Corporation from the sale of common stock
pursuant to the exercise of Options will be used for general corporate purposes.

11.      NO OBLIGATION TO EXERCISE OPTION

         The granting of an Option shall impose no obligation upon the Optionee
to exercise such Option.

12.      NOTICES

         All notice, requests, demand, and other communications pursuant this
Plan shall be in writing and shall be deemed to have been duly given on the date
of service if served personally on the party to whom notice is to be given, or
on the third day following the mailing thereof to the party to whom notice is to
be given, by first class mail, registered or certified, postage prepaid.

13.      FINANCIAL STATEMENTS

         The Company shall deliver a balance sheet and an income statement at
least annually to each individual holding an outstanding option under the Plan,
unless such individual is a Key Employee whose duties in connection with the
Company (or any Parent or Subsidiary) assure such individual access to
equivalent information.

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                                    * * * * *
         The foregoing Incentive and Nonstatutory Stock Option Plan was duly
adopted and approved by the Board of Directors on May 4, 2001, subject to
shareholder ratification within 12 months.

                                           /s/ Jay W. Hegemann
                                           -------------------------------------
                                            Jay W. Hegemann, Secretary

                                       9<PAGE>

                                  EXHIBIT 10.16

                       LEASE FOR ENCINO, CALIFORNIA OFFICE

                               DATED JUNE 4, 2001

<PAGE>

                               ENCINO OFFICE PLAZA

                             SINGER PROPERTIES, INC.
                                 LEASE AGREEMENT

1.       BASIC LEASE TERMS:

(a)      TENANT: REMEDENT PROFESSIONAL

ADDRESS  (For Notices): 1921 YARDLEY #101 L.A. 90025

(b)      PREMISES: 7 & P4 Office number(s) (See Exhibit "A").

(c)      TERM OF LEASE: The term of this Lease shall be 3 month(s), commencing
on JUNE 4TH , 2001 , and shall automatically renew for 1 year on each
anniversary date absent 60 day written notice by either party to terminate
tenancy. (subject to early termination provisions under section 3.1).

(d)      BASIC MONTHLY RENT: $ 1399.90 (subject to automatic 10% escalation upon
each anniversary renewal). Including the following: 1 Executive Desk, 1
Executive Swivel Chair, 1 Executive Kneehole Credenza, 1 Hutch, 1
Plastic Mat,      Guest Chair(s), 2 .
             -----

         ADDITIONAL FURNITURE:                    @ $              per mo.
                                    --------------   -------------
                                                  @ $              per mo.
                                    --------------   -------------
(e)      TELEPHONE MONTHLY RENTAL:  $ 125.00 includes:

              Deluxe Instrument with One Business Line@ $75.00,      Additional
         -----                                                  -----
Instrument(s) only @ $50.00, 1 Fax and/or Modem Line @ $50.00 each,
     Category 5 Cable Connection(s) @ $25.00 each,      Additional Business
-----                                              -----
Line @ $25.00,      Additional Voicemail Box @ $25.00, "411" Directory Listing
               -----
@ $3.00 each (allow 4 weeks), 2 TI Internet (full bandwidth) Connection @
$99.95 first connection, $75.00 each additional connection.

(f)      PARKING: 2 space(s) @ $75.090 each: $ 150.00 per month.

(g)      OTHER:                               $
                ------------------------------ -------------

(h)      TOTAL MONTHLY BASIC CHARGES: $ 1899.00

922-0529        FAX
922-0530        PHONE

                                        1

                                         Initial ________/________(Page___of___)

(i)      SECURITY DEPOSIT (one month, NOT to be used as last month): $ 1899.00
including a non-refundable painting/cleaning fee of $______________peroffice.

<PAGE>

(j)      TELEPHONE DEPOSIT: $200.00 per instrument (Refundable): $ 400.00

(k)      2 sets of KEYS @ $50.00 DEPOSIT (Refundable): $ 100.00

(l)      TELEPHONE INSTALLATION: $ 200.00 Additional charges for any changes
after initial installation is completed or if additional wiring is required. T1
CONNECTION CONFIGURATION CHARGE $ 50.00 .

(m)      BUILDING DIRECTORY LISTING: $ 20.00 one time charge (allow 4 weeks).

(n)      SIGNATURE: $___________ NOT AVAILABLE at this time.

(o)      TOTAL MOVE-IN CHARGES: $ 4568.00 (Due upon lease execution).

                  EXECUTIVE SUITES LEASE - ENCINO OFFICE PLAZA

         1.1.     PARTIES: This professional Office Lease (hereinafter "Lease")
is entered into and executed by and between Tenant, REMEDENT PROFESSIONAL,
INC., (hereinafter "Tenant") and SINGER PROPERTIES, Inc. (hereinafter
"Landlord"), the owner and operator of ENCINO OFFICE PLAZA, located at: 17555
Ventura Boulevard, Encino, California 91316.

         2.       PREMISES: Landlord hereby leases to Tenant and Tenant hereby
leases from Landlord the Premises ("Premises") set forth in the Basic Lease
Terms herein which are part of a larger premises operated by Landlord ("ENCINO
OFFICE PLAZA - EXECUTIVE SUITES" hereinafter "the Encino Office Plaza").

         3.       TERM: The term of this Lease shall commence on the date set
forth above and shall continue for the term set forth in the Basic Lease Term
section described herein at paragraph 1. Such term, and any extension given with
the express written consent of Landlord or by the automatic renewal provisions
set forth hereinbelow at paragraph 20, TERMINATION, is hereafter referred to as
"term". If Landlord is unable to deliver possession of the Premises to Tenant at
the commencement date of the term, Landlord will not be liable for any resulting
damage, nor will this Lease be affected, except that Tenant will not be
obligated to pay the basic monthly rent as hereafter defined, until Landlord
delivers possession.

         3.1.     EARLY TERMINATION PROVISION: If ENCINO OFFICE PLAZA -
EXECUTIVE SUITES should fall below 30% occupancy during the term of this Lease,
Landlord hereby reserves the right to terminate this Lease upon thirty days (30)
written notice to Tenant, provided that all such leases relating to the tenants
of ENCINO OFFICE PLAZA - EXECUTIVE SUITES are terminated concurrently with the
termination of this Lease.

<PAGE>

         4.       RENT: Tenant agrees to pay to Landlord the basic monthly rent
in the amount set forth in the Basic Lease Terms herein during the term of this
Lease. Tenant will pay when due hereunder such rent, and any other charge(s),
including any applicable sales, use and other taxes, now or hereafter imposed by
any governmental body which shall all be deemed additional rent, without making
any deduction or offset to:

                                    Singer Properties, Inc.
                                    17555 Ventura Boulevard, Suite 200
                                    Encino, CA 91316

         (a)      Unless otherwise set forth herein, all rent and additional
rent due to Landlord hereunder are due and payable in advance on the first of
every month without demand or offset. Any additional charges are due and payable
upon receipt of an invoice from Landlord.

         (b)      ANY PAYMENT NOT RECEIVED WITHIN THREE (3) DAYS AFTER THE DUE
DATE IS SUBJECT TO A LATE CHARGE EQUAL TO TEN PERCENT (10%) OF THE PAST DUE
BALANCE, BUT NOT LESS THAN $10.00, TO COMPENSATE LANDLORD FOR THE EXTRA COSTS
INCURRED AS A RESULT OF SUCH LATE PAYMENT. TENANT ACKNOWLEDGES AND AGREES THAT
SUCH LATE CHARGE IS REASONABLE.

         (c)      In addition, in the event that Tenant fails to pay any amount
when due, Tenant shall pay to Landlord interest thereon at an annual rate of ten
percent (10%) or such lower rate as may be the maximum lawful rate.

         (d)      In addition, in the event any check of Lessee should fail to
clear the bank and is returned unpaid to Lessor, them immediately upon written
demand of Lessor to Lessee, Lessee shall also pay a "Returned Check" processing
fee of Fifty Dollars ($50.00) for each such check to cover Lessor's costs and
expenses in processing each returned or unpaid check.

         5.       SECURITY DEPOSIT: Upon execution of this Lease, Tenant shall
pay to Landlord the amount set forth in the Basic Lease Terms herein as a
deposit ("Security Deposit"). Such amount shall be held by Landlord as security
for the full, faithful and complete performance by Tenant of all terms,
covenants and agreements to be kept by Tenant hereunder, or under any other
agreement between Tenant and Landlord. SECURITY DEPOSIT IS NOT TO BE USED AS
LAST MONTH RENT.

         If Tenant fails to perform any of Tenant obligations when performance
is due, Landlord may apply the Security Deposit to the payment of any monthly
charge or any other payment due from Tenant, or of any sum which Landlord may
spend or be required to spend by reason of Tenant's failure. Upon written demand
by Landlord, Tenant will pay to Landlord any amount so applied so that such
Security Deposit is returned to its original amount as specified herein. If at
the end of the term of this Lease Tenant has performed all of the provisions of
this Lease, the Security Deposit, or any remaining balance, will be returned to
Tenant, without interest, less cleaning/painting fee, within forty-five (45)
days after the end of such term.

<PAGE>

         6.       USE: Tenant shall use the Premises as and for an executive
suite (as defined hereinafter), and for no other purpose without the prior
written consent of Landlord. Tenant shall abide by all laws, ordinances, rules
and regulations, including but not limited to rules and regulations promulgated
by Landlord, pertaining to the use of the Premises.

         (a)      "Executive Suite" shall mean an office to be used for
professional non-manufacturing business purposes and the use of adjoining
facilities for services provided to and shared by other Tenants of Landlord.

         (b)      Tenant agrees that Tenant will not offer or use the Premises
to provide other services provided by Landlord to Landlord's Tenants, nor make
or permit use of the Premises in a manner which is forbidden by law or
regulation, or may be hazardous or unsafe, or may tend to impair the character,
reputation, appearance or operation of Landlord as a provider of first-class
executive offices and services. In the event that Tenant permits additional
persons to occupy and use Tenant's executive suite, said additional persons
shall be subject to additional rent demanded by Landlord, which shall be an
obligation of Tenant, or shall subject this Lease to cancellation, at Landlord's
option, unless Tenant first seeks and obtains written authorization from
Landlord. In such event, the term "Tenant" used herein shall include said
persons and said persons shall be subject to the provisions of this Lease. Only
telephone equipment and service as provided by Landlord will be used by Tenant.

         (c)      Tenant will comply with all rules, regulations, and
requirements of the property in which the Premises are located and with other
reasonable rules and regulations established by Landlord and relating to the
Premises and Tenant's use thereof. Landlord will have no responsibility to
Tenant for violation of any lease provisions or rules and regulations by any
other Tenant of Landlord.

         (d)      Tenant shall attorn to Landlord's assignee in such cases as
may be required by Landlord.

         (e)      Tenant shall neither use nor occupy the Premises in any
manner, nor commit any act, resulting in a cancellation or reduction of any
insurance coverage or increase in premiums on any insurance policy covering the
Premises or the property or building of which the Premises are a part.

         (f)      Tenant acknowledges that no security guard or watchman is
present at the Encino Office Plaza and that Landlord has no duty to so provide.
Tenant shall keep the premises locked when closed for business or when
unattended. TENANT SHALL KEEP COMMON AREA/PUBLIC DOORS LOCKED DURING OFF-HOURS,
ON WEEKENDS, HOLIDAYS, AND WHENEVER THE ENCINO OFFICE PLAZA IS DEEMED CLOSED FOR
REGULAR BUSINESS AND CLOSED TO THE PUBLIC, AS LANDLORD MAY HEREAFTER DESIGNATE.
Tenant acknowledges that Landlord will conduct videotape surveillance of
entrance(s) and exit(s) to the premises before and after business hours for
security purposes, and authorizes Landlord to videotape persons on behalf of
Tenant and Tenant guests, and Tenant agrees to disclose to Tenant guests and
employees that videotaping may be in progress.

         7.       IMPROVEMENTS AND ALTERATIONS: Landlord has made no promise to
alter or improve the Premises or the property in which the premises are located
and has made no representations concerning the condition thereof. By taking
possession of

<PAGE>

the Premises, Tenant acknowledges that they are in good order and condition.
Tenant shall maintain the Premises in good condition and repair, will not make
holes in walls for any reason except the hanging of pictures, or cause or permit
the Premises to be damaged or defaced in any manner whatsoever. Tenant will make
no alterations or additions to the Premises without Landlord prior written
consent.

         Tenant will return the Premises at the end of the term in as good
condition and repair as when Tenant received the Premises, reasonable wear and
tear excepted. TENANT SHALL PROVIDE, AT TENANT'S EXPENSE, PLASTIC MAT(S) TO BE
PLACED UNDER EACH EXECUTIVE OR ROLLING CHAIR LOCATED WITHIN THE PREMISES AND
WILL USE IT AT ALL TIMES. IN THE EVENT MAT(S) ARE NOT INSTALLED WITHIN ONE WEEK
OF MOVE-IN, LANDLORD WILL PURCHASE AND INSTALL SAID MAT(S) AT A COST TO TENANT
OF $65.00 EACH. Landlord may, but is not required to, make repairs or
replacements for Tenant's account, and Tenant will pay to Landlord all costs and
expenses for such repairs and replacements upon demand. It is also agreed that
damage or injury done to the Premises, by Tenant, or by any person who may be in
or upon the Premises with the consent of Tenant, other than from normal wear and
tear, shall be paid by Tenant.

         8.       MAIL: Subject to any restrictions set forth herein, Tenant is
hereby authorized to use the address of Landlord as Tenant's business address
(the "premises address" herein). Tenant acknowledges that the U.S. Post Office
will not forward Tenant's mail on a change of address order upon termination of
this lease or use of the premises and that it will be Tenant's responsibility to
notify all parties of termination of such use of the premises address.

         IN THE EVENT THAT THIS LEASE IS TERMINATED, TENANT IS IN DEFAULT
HEREUNDER, OR ANY OR ALL CHARGES ARE NOT KEPT CURRENT PURSUANT TO THIS LEASE,
LANDLORD MAY TERMINATE TENANT'S RIGHT TO USE THE PREMISES ADDRESS AND AT
LANDLORD'S ELECTION AND UPON NOTICE TO TENANT, MAY RETURN ALL MAIL TO SENDERS.

         9.       TELEPHONE ANSWERING AND OTHER SERVICES: Landlord agrees to
provide the following services as long as Tenant is not in default under this
lease:

         (a)      Telephone answering (with the exception of excessive call
received), reception and other limited business services from 9:00 a.m. to 5:00
p.m., Monday through Friday, recognized holidays as determined by Landlord
excepted. "Excessive" calls received (more then 25 per day) will be billed at A
RATE DETERMINED BASED ON VOLUME.

         (b)      Moves, adds and changes relating to telephone service and
other services at the rates described on the Rates and Fee Schedule, Section A,
which Schedule is available under separate cover. Said Rates and Fees shall be
subject to periodic increases by Landlord to compensate for increased costs and
federal, state and local taxes, if any.

         (c)      Dial Tone: Tenant will have the ability to place local and
long distance telephone calls at the rates described on the Rates and Fee
Schedule, Section B, which Schedule is available under separate cover. Said
rates shall be subject to period increases by Landlord to compensate for
increased costs.

<PAGE>

         (d)      Parking Valet Services: Landlord may, at Landlord's election,
provide parking attendant ("valet") services for the convenience of Tenant and
guests and for increased parking capacity. Should Landlord elect to offer said
parking attendant services, Tenant agrees to abide by any and all rules relating
to said parking attendant services, including but not limited to cooperation
with attendant, agreement to provide keys to automobiles and to permit attendant
to park and move cars as may be reasonably required, to pay fees which may be
reasonably required related to said services, and that any such rules and
requirements as may hereafter be propounded shall bind Tenant guests as well as
Tenant.

         (e)      Air conditioning: Landlord will provide air conditioning from
8:00 a.m. to 5:00 p.m., Monday through Friday, recognized holidays as determined
by Landlord excepted. Tenant may request additional air conditioning services
during off-hours and holidays at the rate of $25.00 per hour.

         Tenant acknowledges and agrees that said services are subject to human,
electrical and mechanical error, failure or illness which may result in a delay
or discontinuance of their services.

         TENANT HEREBY REPRESENTS THAT TENANT HAS READ AND AGREES TO SECTIONS 11
(LIMITATION OF LIABILITY), AND 12 (INDEMNITY) AND 13 (WARRANTIES, REMEDIES, AND
LIMITATIONS) BELOW.

         9.1.     TERMINATION OF SERVICES IN EVENT OF DEFAULT OR TERMINATION: IN
THE EVENT THAT THIS LEASE TERMINATES, OR TENANT IS IN DEFAULT HEREUNDER (AS
DEFINED BELOW), LANDLORD MAY, AT ITS ELECTION, REFUSE TO ANSWER TENANT'S
TELEPHONES AND/OR TERMINATE (DISCONNECT) TELEPHONE SERVICE AND LANDLORD SHALL
NOT BE IN BREACH OF ANY OF ITS OBLIGATIONS HEREUNDER, UNDER THE LEASE, OR UNDER
ANY OTHER AGREEMENT, NOR SHALL SUCH REFUSAL BE DEEMED A CONSTRUCTIVE EVICTION OF
TENANT UNDER THE LEASE.

         Tenant agrees that only Landlord provided telephone equipment will be
used in Tenant's offices. Tenant understands that any assigned phone numbers are
non-transferable when service is discontinued and are the property of Landlord.
Tenant further understands it may not place a display ad in the yellow pages of
any telephone directory or order a calling card (or other telephone credit or
charge card) under the assigned number.

         10.      FURNITURE AND EQUIPMENT: In the event Tenant uses or rents
Landlord's furniture or other equipment including but not limited to telephones
(hereinafter collectively "Equipment"), Tenant shall not damage said equipment
or make any modifications, alterations or attachments thereto, nor remove the
same without the written consent of Landlord, which may be withheld in the sole
discretion of Landlord.

         If in the opinion of Landlord, any Tenant performed modifications,
whether or not made with the permission of Landlord, interferes with the normal
use and maintenance of the Equipment and/or telephone system and/or switch at
the Landlord center or otherwise creates a safety hazard, Landlord may, at
Client's expense, remove any such modifications. Equipment shall be moved only
by Landlord or its authorized

<PAGE>

representatives. Tenant shall be responsible to pay all costs of such move at
the then published Landlord fees.

         Upon expiration of the term or other termination of this Lease, Tenant
shall return Equipment to Landlord in the same condition as when provided,
normal wear and tear excepted. If at the end of the term of this Lease, Tenant
has performed all of the provisions of this Lease, and provided Tenant is not in
default under the lease, the deposit or deposits held pursuant to paragraphs
1(1) or (m) of this Lease, on the Equipment or any remaining balance will be
returned to Tenant, without interest, within forty-five (45) days after the end
of the term.

         11. PARKING: Subject to Landlord's right to provide a parking attendant
in accordance with Article 9(d) of the Lease, Tenant shall pay to Landlord, the
amount set forth in the Basic Lease Terms herein each month payable in advance
for parking in the parking lot servicing the premises. Landlord reserves the
right to designate a specific area or space(s) in which Tenant must park,
including the assignment of a tandem spaces, if need be, in the sole discretion
of Landlord and Tenant shall otherwise comply with all rules and regulations
governing the use of said parking lot by tenants and their guests. Tenant shall
NOT park on the premises unless a valid PARKING DECAL is displayed on the front
windshield.

         112.     LIMITATION OF LIABILITY:

                  (a)      THIS LEASE IS MADE UPON THE EXPRESS CONDITION THAT
LANDLORD AND ITS SHAREHOLDERS, OFFICERS, DIRECTORS, MEMBERS, MANAGERS, AGENTS,
PARTNERS, CONTRACTORS, EMPLOYEES, CONSULTANTS, AND ATTORNEYS (COLLECTIVELY
"LANDLORD'S RELATED PARTIES") SHALL BE FREE FROM ALL LIABILITY AND CLAIM FOR
DAMAGES, EXCEPT THOSE CAUSED BY THE GROSS NEGLIGENCE OF LANDLORD, BY REASON OF
ANY INJURY TO ANY PERSON OR PERSONS, INCLUDING TENANT, OR PROPERTY OF ANY KIND,
FROM ANY CAUSE OR CAUSES, IN ANY WAY CONNECTED WITH SAID PREMISES, OR ANY
SERVICES PROVIDED THEREIN, OR THE USE OR OCCUPANCY THEREOF DURING THE TERM OF
THIS LEASE OF ANY EXTENSIONS HEREOF OR ANY OCCUPANCY HEREUNDER, IN NO EVENT
SHALL LANDLORD OR LANDLORD'S RELATED PARTIES BE LIABLE FOR ANY DAMAGES FROM,
AMONG OTHER THINGS, FIRE, WATER, LEAKING OF OVERFLOWING OF PLUMBING, THEFT OR
VANDALISM. IN NO EVENT SHALL LANDLORD OR LANDLORD'S RELATED PARTIES BE LIABLE
FOR ANY CONDUCT OF ANY OTHER TENANT OF THE BUILDING WHERE THE PREMISES ARE
LOCATED, AND ANY SUCH CONDUCT SHALL NOT GIVE TENANT THE RIGHT TO TERMINATE THIS
LEASE OR ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT.

         LANDLORD AND/OR LANDLORD'S RELATED PARTIES SHALL NOT BE LIABLE UNDER
ANY CIRCUMSTANCES FOR CONSEQUENTIAL DAMAGE OR DAMAGES OR INJURY TO TENANT'S
BUSINESS OR POTENTIAL BUSINESS, NO MATTER WHAT CAUSES SUCH DAMAGES.

         (b)      THE PREMISES AND ANY SERVICES, FURNISHINGS, AND FACILITIES
PROVIDED PURSUANT TO THIS LEASE ARE FURNISHED WITHOUT WARRANTY OF ANY SORT
WHATSOEVER.

<PAGE>

         Tenant's sole remedy, and Landlord's sole obligation for any failure to
render any service, furnishings or facility, any error or omission, or any delay
or interruption with respect thereto, is limited to an adjustment to Tenant's
billing in an amount equal to the charge for such service, furnishings or
facility for the periods during which the failure, delay or interruption
continues. (By way of example only, if Client's office is reasonably determined
to be unusable due to the gross negligence of Landlord, Tenant's billing will be
reduced in proportion to Tenant's reduced use thereof.) With the sole exception
of the remedy set forth in this paragraph 11 (b), Tenant expressly and
specifically agrees to waive, and agrees not to make any claim for damages,
direct or consequential, arising out of any failure to furnish any service,
furnishings or facility, any error or omission with respect thereto, or any
delay or interruption of the same. Notwithstanding anything in this paragraph,
there shall be no billing adjustment if Tenant is in default hereunder.

         123.     INDEMNITY: Tenant hereby covenants and agrees to indemnity and
hold harmless Landlord and Landlord's Related Parties from all liability, loss,
cost or obligations including actual attorney's fees incurred by Landlord or
Landlord's Related Parties on account of Tenant ' s or Tenant's Invitees' use of
the Premises and anything done or allowed to be done by Tenant or Tenant's
Invitees on the Premises or the building where the Premises are located.

         134.     WARRANTIES, REMEDIES AND LIMITATIONS:

         (a)      LANDLORD'S ONLY LIABILITY AND TENANT'S SOLE REMEDY FOR ANY
LOSS OF THE SERVICES TO BE PROVIDED PURSUANT TO PARAGRAPH 8 and 9 HEREIN ABOVE,
OR OTHERWISE PROVIDED AT TENANT'S REQUEST, ARE LIMITED TO A PRO RATA CREDIT OF
PAYMENTS MADE BY TENANT PURSUANT TO PARAGRAPH 4. SAID PRO RATA CREDIT SHALL
APPLY TO THE PERIOD OF TIME DURING WHICH LANDLORD WAS NOT ABLE TO PROVIDE THE
ABOVE-DESCRIBED SERVICES.

         (b)      LANDLORD PROVIDES NO WARRANTIES AS TO ANY SERVICES PROVIDED TO
TENANT AND ANY AND ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, ARE HEREBY
WAIVED.

         (c)      THE FOREGOING REMEDY IS EXCLUSIVE AND IS GIVEN AND ACCEPTED IN
LIEU OF ANY OBLIGATION, LIABILITY, RIGHT OR CLAIM OR REMEDY IN CONTRACT OR TORT,
WHETHER OR NOT ARISING FROM LANDLORD'S GROSS NEGLIGENCE. ACTUAL OR IMPUTED. THE
REMEDIES OF TENANT SHALL BE LIMITED TO THOSE PROVIDED HEREIN TO THE EXCLUSION OF
ANY AND ALL OTHER REMEDIES, INCLUDING, WITHOUT LIMITATION, INCIDENTAL OR
CONSEQUENTIAL DAMAGES.

         145.     INSURANCE: Tenant hereby agrees that Tenant will at Tenant's
own expense at all times during the term of this Lease, carry public liability
insurance with a company suitable to Landlord, naming Landlord as additionally
insured for all operations of Tenant upon the Premises, and for all perils,
including fire, with a limitation for property damage of not less than One
Hundred Thousand Dollars ($100,000.00) and limitation for injury or death per
occurrence not less than One Million Dollars ($1,000,000.00), and in the event
Tenant should fail to secure a public liability insurance policy and/or fail to
pay any premium or premiums thereon when the same becomes due, then in that
event, Landlord may at its option pay such premium or premiums

<PAGE>

and/or secure such public liability insurance policy, and the cost thereof shall
become due and payable as rent by Tenant due Landlord on the next succeeding
rent day thereafter.

         A duplicate policy or certificate showing such insurance coverage shall
be filed with Landlord within ten (10) days following the execution of this
Lease by Landlord or prior to Tenant's occupancy of the Leased Premises,
whichever occurs first, and said policy shall provide that such insurance
coverage shall not be canceled or subject to reduction of coverage without at
least ten (10) days prior written notice to Landlord. At least thirty (30) days
prior to the expiration of any policy, a policy showing that such coverage has
been renewed or extended shall be filed with Landlord.

         156.     DESTRUCTION OF PREMISES: Should the Premises or the building
in which said Premises are located be so damaged by flood, fire, earthquake,
explosion or other cause, that, in the opinion of Landlord, it is impractical or
inadvisable to restore the same, then this Lease shall terminate as of the date
of such damage, and both Landlord and Tenant shall be released from all
obligations hereunder, subsequent to the date of such damage. In the event that
Landlord should desire to restore the Premises, Landlord shall have ninety (90)
days, or such additional time as may be mutually agreed to between the parties,
to do so. The rent due hereunder during the period that the Premises are in need
of or are being restored shall be abated or proportionately reduced, depending
on whether the Premises are entirely or partially untenantable.

         167.     EMINENT DOMAIN: In the event that all or part of the Premises
shall be taken under power of eminent domain or sold under threat of such
taking, this Lease shall terminate as to the part so taken or sold, and the rent
shall be reduced in the proportion that the value of the Premises is reduced
thereby. The entire award or proceeds from such taking or sale of land and
improvements, including severance damages, shaft belong to Landlord and Tenant
shall be entitled only to the portion of the award or proceeds for its personal
property which may be taken, and any relocation allowance actually paid by the
condemning authority. Tenant may terminate this Lease by notice to Landlord
within thirty (30) days after such taking or sale.

         178.     DEFAULT: Tenant shall be in default hereunder when Tenant does
not pay any sum payable by Tenant to Landlord after such sum becomes due and
payable under this Lease, or if Tenant fails to perform any of Tenant's other
covenants or provisions or agreements under this Lease. If Tenant does not cure
such default within three (3) days after written notice from Landlord, Landlord
shall have, in addition to any other rights hereunder, the right, without
further notice, and in addition to and not in lieu of other remedies available,
to terminate all of Tenant's rights under this Lease, or such of those rights as
Landlord designates in such written notice. Such notice shall be in lieu of, and
not in addition to, any notice required by California CODE OF CIVIL PROCEDURE
1161 or any other successor statute.

         If Tenant's rights under this Lease are so terminated, Landlord may,
after complying with any applicable requirements of law, take possession of the
Premises. Upon any such action by Landlord, Tenant shall remain liable for all
obligations which have previously accrued, and, to the maximum extent permitted
by law, for all obligations which may subsequently accrue under this Lease.

<PAGE>

         Landlord shall not be in default under this Lease unless Landlord fails
to perform obligations required of Landlord within a reasonable time, but in no
event later than thirty days (30) after written notice by Tenant to Landlord,
specifying the nature of said default; provided, however, that if Landlord's
obligation is such that more than thirty days (30) is required for said
performance, then Landlord shall not be in default if Landlord commences
performance within said thirty day (30) period and thereafter diligently
prosecutes the same to completion.

         189.     FORCE MAJEURE: If Landlord's performance of this Lease or of
any of its obligations hereunder is prevented or restricted by reason of any
cause beyond the reasonable control of Landlord, including, but not limited to,
mechanical or electrical breakdown, fire, explosion or other casualty, acts of
God, acts of public enemies, embargo, delays of supplies, acts of any
governmental agency, labor difficulties, strikes or inclement weather, Landlord,
upon giving timely notice to Tenant, shall be excused from such performance
hereunder to the extent of such breakdown, prevention or restriction, provided
that Landlord shall resume performance within a reasonable time after any such
cause has been removed or ceases.

         1920.    ASSIGNMENT AND SUBLETTING: Tenant shall not assign this Lease
or any interest herein or sublet the Premises or any portion thereof or permit
any other person to occupy the Premises or any portion thereof. No assignee for
the benefit of creditors, trustee in bankruptcy or purchaser at any execution
sale shall have any right to possess or occupy the Premises or any part thereof,
or claim of right hereunder.

         Notwithstanding the foregoing, in the event that Landlord should
hereafter grant to Tenant permission to seek to assign or sublet, Tenant agrees
to reimburse Landlord's reasonable attorneys' fees incurred in connection with
the processing and documentation of any requested transfer, assignment, or
subletting agreement. Said Landlord's permission to seek to assign or sublet
must be in writing. Further, Landlord reserves the right to approve any
sub-tenant or assignee, and may demand any documentation whatsoever to
Landlord's satisfaction in order to approve said sub-tenant or assignee.
Further, Landlord may deny said approval solely within Landlord's discretion and
applicable law.

         201      TERMINATION: TENANT SHALL GIVE LANDLORD NOT LESS THAN SIXTY
(60) DAYS WRITTEN NOTICE OF TENANT'S INTENTION TO DISCONTINUE ITS TENANCY
HEREUNDER PRIOR TO THE END OF ANY TERM. IF TENANT FAILS TO PROVIDE SUCH NOTICE,
TENANT'S TERM SHALL AUTOMATICALLY BE RENEWED FOR AN ADDITIONAL ONE YEAR TERM.
TENANT'S CONTINUED FAILURE TO PROVIDE LANDLORD SUCH NOTICE WILL RESULT IN
TENANT'S TERM BEING AUTOMATICALLY RENEWED FOR SUCCESSIVE ADDITIONAL ONE YEAR
TERMS. SAID NOTICE MAY NOT BE GIVEN MORE THAN NINETY (90) DAYS PRIOR TO THE END
OF ANY TERM.

         LANDLORD MAY, AT LANDLORD'S ELECTION, GIVE TENANT WRITTEN NOTICE OF
LANDLORD'S ELECTION TO TERMINATE TENANCY NOT LESS THAN SIXTY (60) DAYS PRIOR TO
THE END OF ANY TERM, OR ELECT EARLY TERMINATION PURSUANT TO THE PROVISIONS OF
SECTION 3.1. NOTHING HEREIN SHALL BE DEEMED TO PROVIDE TENANT WITH AN
IRREVOCABLE OPTION TO RENEW TENANT'S TENANCY. EXPRESS RENEWAL AND AUTOMATIC
RENEWAL ARE EXPRESSLY CONDITIONED UPON LANDLORD'S CONSENT,

<PAGE>

WHICH SHALL BE DEEMED GIVEN ABSENT LANDLORD'S WRITTEN NOTICE OF TERMINATION OF
TENANCY.

         (a)      Upon termination or default of this Lease, Tenant agrees to
return to Landlord any equipment provided by Landlord to Tenant. The equipment
is, and shall remain at all times, the property of Landlord. Further, Tenant
shall provide Landlord with a forwarding address such that residual billings can
be mailed to Tenant.

         (b)      Tenant, including its principals, partners, shareholders,
officers, directors, managers, members, owners (collectively "Tenant's Related
Parties") and any parent, subsidiary or affiliated companies, jointly and
severally agree that during the term of this Lease or within one year following
the termination of this Lease, Tenant and Tenant's Related Parties will not hire
any of the employees of Landlord or persons employed by Landlord during the
90-day period prior to the hire date of said person by Tenant. In the event that
Tenant shall breach any obligation contained in this paragraph, Tenant shall be
liable to Landlord for, and shall pay to Landlord on demand, damages in the sum
of $5,000 for each such employee, it being mutually agreed by Tenant and
Landlord that this provision for liquidated damages is reasonable and that the
actual damage which would be sustained by Landlord as the result of a failure to
comply with the provisions would be impractical or extremely difficult to fix or
determine.

         212.     SURRENDER OF POSSESSION BY TENANT: Tenant hereby agrees, upon
the termination of this Lease, to immediately and peaceably yield up and
surrender the Premises in as good condition as the same were at the time of the
taking of possession, subject to reasonable wear and tear. Any personal property
remaining in the Premises upon expiration or termination shall be deemed
abandoned.

         Notwithstanding Tenant's failure to give 60 days notice of termination
as provided above, Landlord may, at any time prior to termination of the initial
term hereof or any 60 day renewal period, give Tenant a demand for possession of
the Premises upon termination of the initial term or the then applicable 60 day
period, as the case may be (the "Possession Date"). If Tenant remains in
possession of the premises after the Possession Date, Tenant shall become a
lessee at sufferance only, upon the same terms and conditions as contained
herein except that the monthly rent shall equal to two (2) times the monthly
rent which was in effect immediately prior to the Possession Date. Acceptance by
Landlord of rent after the Possession Date shall not constitute consent to a
holdover by Tenant or result in a renewal of this Lease. In addition, Tenant
shall indemnify and hold harmless Landlord and Landlord's Related Parties from
any and all claims, demands, losses or damages incurred by or asserted against
Landlord or Landlord's Related Parties due to Tenant's failure to deliver
possession of the Premises at the Possession Date including, without limitation,
any claims by any succeeding tenant for the Premises based on such delay.

         Without prior written consent, Tenant shall not remove any of
its/his/her property from the premises upon termination of this Lease, or at any
other time, except during Landlord's normal business hours. In the event that
Tenant elects to remove its property before or after normal business hours
following obtaining consent from Landlord, any expenses incurred by Landlord as
a result, including but not limited to additional expenses for security,
personnel, utilities and the like, shall be paid by Tenant.

<PAGE>

         223.     RIGHT OF ENTRY: Landlord's agent may enter upon the Premises
at any reasonable time to inspect and examine the Premises and to see that the
covenants hereof are being kept and performed, to take action which may be
required or permitted hereunder, to make such repairs, additions, or
improvements as Landlord shall deem necessary, or to exhibit the Premises to
prospective tenants or purchasers thereof.

         Landlord shall have the right to enter and show Tenant's office or
offices and related areas to prospective tenants during the sixty day period
after notice to vacate is received from Tenant.

         234.     SIGNS: Tenant shall not place or permit to be placed any sign,
advertisement, notice or other similar matter on any doors, windows, or walls or
other areas of the Premises which are open to the view of persons in the common
area of the ENCINO OFFICE PLAZA and/or EXECUTIVE SUITES or to persons outside of
the building in which the EXECUTIVE SUITES and the Premises are located.

         245.     KEYS: Two (2) keys to the Premises will be furnished by
Landlord. Additional keys will be furnished upon Tenant's payment to Landlord of
the fee therefore as determined by Landlord. Tenant shall not cause or permit
the duplication of any keys to be made, and Tenant shall not cause or permit any
keys to be possessed by any person other than an authorized agent of Tenant.
Tenant agrees to return to Landlord all keys to the Premises at the termination
of the tenancy. Landlord shall have the right to charge Tenant $25.00 for each
key which Tenant does not return to Landlord within five (5) days of vacating
the Premises.

         245.1.   SECURITY KEY FOBS: (When and if this system is intregrated.)
Security key fobs for electronic security system have been provided to Tenant in
the number set forth in the Basic Lease Terms. The security deposit collected
for each security key fob issued is $25.00. The charge for each lost security
key fob is $25.00. Tenant agrees to surrender each and every security key fob at
termination of tenancy and surrender of the Premises.

         256.     WAIVER: One or more waivers by Landlord of any breach of any
covenant or condition hereunder shall not be construed as a waiver of a
subsequent or continuing breach of the same or of any other covenant or
condition, and the consent or approval by Landlord to or of any act by Tenant
requiring Landlord's consent or approval shall not be deemed to waive or render
unnecessary Landlord's consent or approval to or of any subsequent act by
Tenant.

         267.     TIME OF THE ESSENCE: Time is expressly of the essence of this
Lease, and of all covenants and conditions contained herein.

         278.     SUCCESSORS AND ASSIGNS: The covenants and conditions herein
contained shall, subject to the provision as to assignments and subletting,
apply to and bind the heirs, successors, executors, administrators and assigns
of the respective parties hereto. If this Lease is executed by more than one
person as Tenant, their obligation shall be joint and several.

         289.     ATTORNEYS FEES: In the event of any legal action or proceeding
by Tenant or Landlord against the other under this Lease, the prevailing party
shall be

<PAGE>

entitled to recover all expenses and costs, including attorneys fees and costs
of appeal, if any, in such amount as is reasonable. In addition, should Landlord
retain legal counsel due to any default by Tenant, Tenant shall reimburse
Landlord its actual attorney fees and expenses incurred as a consequence of
remedying any default.

         2930.    NOTICES: All notices by Tenant or Landlord to the other must
be in writing. Notice to Tenant will be considered given if delivered personally
to Tenant or to one of Tenant's officers or mailed by registered or certified
mail, postage prepaid, addressed to Tenant, either at Landlord's premises
address described herein or at Tenant's address described herein. Notices to
Landlord will be considered given if mailed by registered or certified mail,
postage prepaid, to Landlord at Landlord's address set forth in the applicable
schedule or such other address as Landlord shall designate to Tenant in writing.

         301.     SEVERABILITY: The invalidity or unenforceability of any
provision hereof shall not affect or impair the validity or enforceability of
any other provision. No waiver of any default of Tenant shall be implied from
any failure by Landlord to take action with respect to such default.

         312.     ENTIRE AGREEMENT: This Lease supersedes any prior agreement or
agreements and embodies the entire agreement between Landlord and Tenant with
regard to the leasing of the Premises to Tenant, and may not be modified,
changed or altered in any way except in writing. Submission of this instrument
for examination does not constitute a reservation of or option for the Premises
and becomes effective only upon execution and delivery by both parties and shall
be interpreted and enforced in accordance with the laws of the State of
California.

         323.     AUTHORITY OF PARTIES AND GUARANTEE: Each party represents that
it has the full power and authority to enter into and perform this Lease. If
Tenant is a corporation or limited liability entity, each individual executing
this Lease on behalf of said corporation or limited liability entity represents
and warrants that he is duly authorized to execute and deliver this Lease on
behalf of said corporation or limited liability entity, and that this Lease is
binding on said corporation or limited liability entity.

         If Tenant is an unincorporated association or partnership, the
undersigned personally guarantees the full and faithful performance of the terms
and conditions of this Lease by the above Tenant in the event of default in the
performance, either under the remedies stated in the Lease, or those provided at
law.

         334.     HEADINGS: The section headings used in this Lease are intended
for convenience only and shall not be used in interpreting this Lease or in
determining any of the rights or obligations of the parties to this Lease.

<PAGE>

              IN WITNESS WHEREOF, the parties have caused this Lease comprised
of TEN (10) pages plus any exhibits to be executed on the date set forth herein
below.

Date: June 4, 2001                       SINGER PROPERTIES, INC.
      ---------------------

                                         By: /s/ Phil Singer
                                            ------------------------------------
                                         (Signature)

                                         Name (Please Print) Phil Singer
                                                            --------------------
                                         Title President
                                              ----------------------------------
Date: June 4, 2001                       Tenant:
      ---------------------

                                         By: /s/ Stephen Ross
                                            ------------------------------------
                                         (Signature)

                                         Name (Please Print) Stephen Ross
                                                            --------------------
                                         Title Chief Financial Officer
                                              ----------------------------------

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