Document:

EMPLOYMENT AGREEMENT

                  AGREEMENT dated as of February ___, 2000 between HOWARD B.
LANDERS, residing at 9881 SW 131st Street, Miami, Florida 33176 ("Executive"),
and SHOCHET HOLDING CORP., a Delaware corporation having its principal office at
2351 East Hallandale Beach Boulevard, Hallandale, Florida 33009 ("Company").

                  WHEREAS, the Company is engaged through its subsidiary
corporation in the business of operating and managing an investment banking and
securities brokerage firm, as well as other related enterprises; and

                  WHEREAS, the Company employs and desires to continue the
employment of Executive for the purpose of securing for the Company and its
subsidiary corporation the experience, ability and services of Executive; and

                  WHEREAS, Executive desires to continue his present employment
with the Company, pursuant to the terms and conditions herein set forth,
superseding all prior agreements between the Company, its subsidiary and/or
predecessors and Executive;

                  IT IS AGREED:

         1.       Employment, Duties and Acceptance.
                  ---------------------------------

                  1.1 The Company hereby employs Executive as its Executive Vice
President - Online Products ("EVP"). All of Executive's powers and authority in
any capacity shall at all times be subject to the direction and control of the
Company's Board of Directors and its Chief Executive Officer ("CEO") and its
Chief Operating Officer ("COO").

                  1.2 The Board, CEO or COO may assign to Executive such general
management and supervisory responsibilities and executive duties for the Company
or any subsidiary of the Company, including serving as an executive officer
and/or director of any subsidiary, as are consistent with Executive's status as
EVP. The Company and Executive acknowledge that Executive's primary functions
and duties as EVP shall be the management and oversight of the Company's online
operations.

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                  1.3 Executive accepts such employment and agrees to devote all
of his business time, energies and attention to the performance of his duties
hereunder. Nothing herein shall be construed as preventing Executive from making
and supervising personal investments, provided they will not interfere with the
performance of Executive's duties hereunder or violate the provisions of
paragraph 5.4 hereof.

                  1.4 Executive shall be based in the southern Florida area, and
shall undertake such occasional travel, within or without the United States, as
is reasonably necessary in the interests of the Company.

         2.       Compensation and Benefits.
                  -------------------------

                  2.1 The Company shall pay to Executive a salary at the minimum
annual rate of $120,000 for each twelve-month period during the term hereof
(i.e., $10,000 per month). Executive's compensation shall be paid in equal,
periodic installments in accordance with the Company's normal payroll
procedures.

                  2.2 The Company shall also pay to Executive such bonuses as
may be determined from time to time by the Board of Directors. In connection
therewith, the Executive shall be entitled to participate at the level of EVP in
the Company's 1999 Performance Equity Plan adopted by the Board of Directors and
approved by the Company's sole stockholder, and thereafter as in effect from
time to time during the term hereof.

                  2.3 The Company shall grant to Executive under its 1999
Performance Equity Plan options to purchase 36,000 shares of its common stock,
exercisable at a price equal to the per share price of the common stock offered
in the Company's initial public offering expected to be consummated in the first
quarter of calendar 2000. The options will vest in three equal annual
installments commencing on the one-year anniversary date of the effective date
of the initial public offering. Executive and the Company shall enter into a
separate stock option agreement in connection therewith. In the event that
Executive terminates this Agreement for Good Reason (as defined) any and all
options which have not vested shall immediately and automatically vest in full
without any action being required by any of the parties hereto.

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                  2.4 Executive shall be entitled to such medical, life,
disability and other benefits as are generally afforded to other senior
executives of the Company, subject to applicable waiting periods and other
conditions.

                  2.5 Executive shall be entitled to four weeks of vacation in
each calendar year and to a reasonable number of other days off for religious
and personal reasons.

                  2.6 The Company will pay or reimburse Executive for all
transportation, hotel and other expenses reasonably incurred by Executive on
business trips and for all other ordinary and reasonable out-of-pocket expenses
actually incurred by him in the conduct of the business of the Company against
itemized vouchers submitted with respect to any such expenses and approved in
accordance with customary procedures.

         3.       Term and Termination.
                  --------------------

                  3.1 The term of this Agreement commences as of the effective
date of the initial public offering and shall continue until the one-year
anniversary thereof, unless sooner terminated as herein provided. This Agreement
shall be subject to automatic renewals of one-year terms unless 30 days' prior
written notice of termination is given by either party.

                  3.2 If Executive dies during the term of this Agreement, this
Agreement shall thereupon terminate, except that the Company shall pay to the
legal representative of Executive's estate (i) the base salary due Executive
pursuant to paragraph 2.1 hereof through the date of Executive's death, (ii) a
pro rata allocation of bonus payments under paragraph 2.2 during the year of
death through the date of Executive's death, (iii) all earned and previously
approved but unpaid bonuses, (iv) all valid expense reimbursements through the
date of the termination of this Agreement and, (v) all accrued but unused
vacation pay.

                  3.3 The Company, by notice to Executive, may terminate this
Agreement if Executive shall fail because of illness or incapacity to render,
for six consecutive months, services of the character contemplated by this
Agreement. Notwithstanding such termination, the Company shall pay to Executive
(i) the base salary due Executive pursuant to paragraph 2.1 hereof through the
date of such notice, less any amount Executive receives for such period from any
Company-

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sponsored or Company-paid source of insurance, disability compensation or
government program, (ii) a pro rata allocation of bonus payments under paragraph
2.2 during the year in which the disability commenced through the date of such
notice, (iii) all earned and previously approved but unpaid bonuses, (iv) all
valid expense reimbursements through the date of the termination of this
Agreement and, (v) all accrued but unused vacation pay.

                  3.4 The Company, by notice to Executive, may terminate this
Agreement for cause. As used herein, "Cause" shall mean: (a) the refusal or
failure by Executive to carry out specific directions of the Board, the CEO or
COO which are of a material nature and consistent with his status as EVP, or the
refusal or failure by Executive to perform a material part of Executive's duties
hereunder; (b) the commission by Executive of a material breach of any of the
provisions of this Agreement; (c) fraud or dishonest action by Executive in his
relations with the Company or any of its subsidiaries or affiliates ("dishonest"
for these purposes shall mean Executive's knowingly or recklessly making of a
material misstatement or omission for his personal benefit); or (d) the
conviction of Executive of any crime involving an act of moral turpitude, or the
imposition against Executive of a permanent bar from association with a
securities firm by any federal, state or regulatory agency or self-regulatory
body after the exhaustion of all judicial and administrative appeals therefrom.
Notwithstanding the foregoing, no termination for Cause shall be deemed to exist
with respect to Executive's acts described in clauses (a) or (b) above, unless
the Company shall have given written notice to Executive specifying the Cause
with reasonable particularity and, within thirty calendar days after such
notice, Executive shall not have cured or eliminated the problem or thing giving
rise to such Cause; provided, however, that a repeated breach after notice, cure
and written acceptance of such cure by the Board being delivered to Executive of
any provision of clauses (a) or (b) above involving the same or substantially
similar actions or conduct, shall be grounds for termination for Cause without
any additional notice from the Company.

                  3.5 If Executive's employment hereunder is terminated for any
reason, then Executive shall, at the Company's request, resign as a director of
the Company and all of its subsidiaries, effective upon the occurrence of such
termination.

                  3.6 The Executive, by notice to the Company, may terminate
this Agreement if a "Good Reason" exists. For purposes of this Agreement, Good
Reason shall mean the occurrence of any of the following circumstances without
the Executive's prior express written consent: (a) a

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substantial and material adverse change in the nature of Executive's title,
duties or responsibilities with the Company that represents a demotion from his
title, duties or responsibilities as in effect immediately prior to such change;
(b) a substantial and material breach of this Agreement by the Company; (c) a
failure by the Company to make any payment to Executive when due, unless the
payment is not material and is being contested by the Company, in good faith;
(d) (i) any person or entity other than the Company or any officers, directors
or stockholders of the Company as of the date of this Agreement acquires
securities of the Company (in one or more transactions) having 25% or more of
the total voting power of all the Company's securities then outstanding and (ii)
the Board of Directors of the Company does not authorize or otherwise approve
such acquisition; or (e) a liquidation, bankruptcy or receivership of the
Company. Notwithstanding the foregoing, no Good Reason shall be deemed to exist
with respect to the Company's acts described in clauses (a), (b) or (c) above,
unless Executive shall have given written notice to the Company specifying the
Good Reason with reasonable particularity and, within thirty calendar days after
such notice, the Company shall not have cured or eliminated the problem or thing
giving rise to such Good Reason; provided, however, that a repeated breach after
notice and cure of any provision of clauses (a), (b) or (c) above involving the
same or substantially similar actions or conduct, shall be grounds for
termination for Good Reason without any additional notice from Executive.

                  3.7 In the event that Executive terminates this Agreement for
Good Reason, pursuant to the provisions of paragraph 3.6, or the Company
terminates this Agreement without Cause, as defined in paragraph 3.4, the
Company shall continue to pay to Executive (or in the case of his death, the
legal representative of Executive's estate or such other person or persons as
Executive shall have designated by written notice to the Company), all payments,
compensation and benefits required under paragraph 2 hereof through the
expiration of the then current term of this Agreement; provided, however, that
(i) Executive's insurance coverage shall terminate upon the Executive becoming
covered under a similar program by reason of employment elsewhere, and (ii)
Executive shall use reasonable efforts to obtain employment elsewhere as an
employee or consultant and all compensation for services paid or earned and
deferred in connection therewith shall be a reduction against the Company's then
future salary obligations pursuant to Section 2.1.

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         4.       Executive Indemnity
                  -------------------

                  4.1 The Company agrees to indemnify Executive and hold
Executive harmless against all costs, expenses (including, without limitation,
reasonable attorneys' fees) and liabilities (other than settlements to which the
Company does not consent, which consent shall not be unreasonably withheld)
(collectively, "Losses") reasonably incurred by Executive in connection with any
claim, action, proceeding or investigation brought against or involving
Executive with respect to, arising out of or in any way relating to Executive's
employment with the Company or Executive's service as a director of the Company;
provided, however, that the Company shall not be required to indemnify Executive
for Losses incurred as a result of Executive's intentional misconduct or gross
negligence (other than matters where Executive acted in good faith and in a
manner he reasonably believed to be in and not opposed to the Company's best
interests). Executive shall promptly notify the Company of any claim, action,
proceeding or investigation under this paragraph and the Company shall be
entitled to participate in the defense of any such claim, action, proceeding or
investigation and, if it so chooses, to assume the defense with counsel selected
by the Company; provided that Executive shall have the right to employ counsel
to represent him (at the Company's expense) if Company counsel would have a
"conflict of interest" in representing both the Company and Executive. The
Company shall not settle or compromise any claim, action, proceeding or
investigation without Executive's consent, which consent shall not be
unreasonably withheld; provided, however, that such consent shall not be
required if the settlement entails only the payment of money and the Company
fully indemnifies Executive in connection therewith. The Company further agrees
to advance any and all expenses (including, without limitation, the fees and
expenses of counsel) reasonably incurred by the Executive in connection with any
such claim, action, proceeding or investigation, provided Executive first enters
into an appropriate agreement for repayment of such advances if indemnification
is found not to have been available.

         5.       Protection of Confidential Information; Non-Competition.
                  -------------------------------------------------------

                  5.1      Executive acknowledges that:

                           (a) As a result of his current and prior employment
with the Company, Executive has obtained and will obtain secret and confidential
information concerning the business of the Company and its subsidiaries and
affiliates (referred to collectively in this paragraph 5 as the

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"Company"), including, without limitation, financial information, proprietary
rights, trade secrets and "know-how," customers and sources ("Confidential
Information").

                           (b) The Company will suffer substantial damage which
will be difficult
to compute if, during the period of his employment with the Company or
thereafter, Executive should enter a business competitive with the Company or
divulge Confidential Information.

                           (c) The provisions of this Agreement are reasonable
and necessary for the protection of the business of the Company.

                  5.2 Executive agrees that he will not at any time, divulge to
any person or entity any Confidential Information obtained or learned by him as
a result of his employment with the Company, except (i) in the course of
performing his duties hereunder, (ii) with the Company's express written
consent; (iii) to the extent that any such information is in the public domain
other than as a result of Executive's breach of any of his obligations
hereunder; or (iv) where required to be disclosed by court order, subpoena or
other government process. If Executive shall be required to make disclosure
pursuant to the provisions of clause (iv) of the preceding sentence, Executive
promptly, but in no event more than 72 hours after learning of such subpoena,
court order, or other government process, shall notify, by personal delivery or
by electronic means, confirmed by mail, the Company and, at the Company's
expense, Executive shall: (a) take all reasonably necessary and lawful steps
required by the Company to defend against the enforcement of such subpoena,
court order or other government process, and (b) permit the Company to intervene
and participate with counsel of its choice in any proceeding relating to the
enforcement thereof.

                  5.3 Upon termination of his employment with the Company,
Executive will promptly deliver to the Company all memoranda, notes, records,
reports, manuals, drawings, blue prints and other documents (and all copies
thereof) relating to the business of the Company and all property associated
therewith, which he may then possess or have under his control; provided,
however, that Executive shall be entitled to retain copies of such documents
reasonably necessary to document his financial relationship with the Company.

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<PAGE>

                  5.4 During the period commencing on the date hereof and ending
on the one-year anniversary of the date Executive's employment hereunder is
terminated (and, if Executive is terminated with "Cause" or Executive terminates
this Agreement without "Good Reason," until April 30, 2001), Executive, without
the prior written permission of the Company, shall not (i) employ or retain, or
have or cause any other person or entity to employ or retain, any person who was
employed or retained by the Company while Executive was employed by the Company,
or (ii) solicit, interfere with, or endeavor to entice away from the Company,
for the benefit of any person, firm or corporation principally engaged in the
business of providing online brokerage services (a "Competitive Business"), any
of its customers or other persons with whom the Company has a contractual
relationship. Notwithstanding the foregoing, nothing in this Agreement shall
preclude Executive from investing his personal assets in any manner he chooses,
provided, however, that Executive may not, during the period referred to in this
Section 5.4, own more than 4.9% of the equity securities of any Competitive
Business.

                  5.5 If Executive commits a breach, or threatens to commit a
breach, of any of the provisions of Sections 5.2, 5.3 or 5.4, the Company shall
have the right and remedy:

                           (a) to have the provisions of this Agreement
specifically enforced by any court having equity jurisdiction, it being
acknowledged and agreed by Executive that the ser vices being rendered hereunder
to the Company are of a special, unique and extraordinary character and that any
such breach or threatened breach will cause irreparable injury to the Company
and that money damages will not provide an adequate remedy to the Company; and

                           (b) to require Executive to account for and pay over
to the Company all monetary damages suffered by the Company as the result of any
transactions constituting a breach of any of the provisions of Sections 5.2 or
5.4, and Executive hereby agrees to account for and pay over such damages to the
Company.

                  Each of the rights and remedies enumerated in this Section 5.5
shall be independent of the other, and shall be severally enforceable, and such
rights and remedies shall be in addition to, and not in lieu of, any other
rights and remedies available to the Company under law or equity.

                  In connection with any legal action or proceeding arising out
of or relating to this Agreement, the prevailing party in such action or
proceeding shall be entitled to be reimbursed by the other party for the
reasonable attorneys' fees and costs incurred by the prevailing party.

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<PAGE>

                  5.6      If any provision of Sections 5.2 or 5.4 is held to be
unenforceable because of the scope, duration or area of its applicability, the
tribunal making such determination shall have the power to modify such scope,
duration, or area, or all of them, and such provision or provisions shall then
be applicable in such modified form.

                  5.7      The provisions of this paragraph 5 shall survive the
termination of this Agreement for any reason, except in the event Executive is
terminated by the Company without "Cause" in breach of this Agreement, or if
Executive terminates this Agreement with "Good Reason," in either of which
events, this paragraph 5 shall be null and void and of no further force or
effect.

         6.       Miscellaneous Provisions.
                  ------------------------

                  6.1      All notices provided for in this Agreement shall be
in writing, and shall be deemed to have been duly given when (i) delivered
personally to the party to receive the same, or (ii) when mailed first class
postage prepaid, by certified mail, return receipt requested, addressed to the
party to receive the same at his or its address set forth below, or such other
address as the party to receive the same shall have specified by written notice
given in the manner provided for in this Section 6.1. All notices shall be
deemed to have been given as of the date of personal delivery or mailing
thereof.

                  If to Executive:

                           Howard B. Landers
                           9881 SW 131st Street
                           Miami, Florida 33176

                  If to the Company:

                           Shochet Holding Corp.
                           2351 East Hallandale Beach Boulevard
                           Hallandale, Florida 33009
                           Attn:  Chief Executive Officer

                  With a copy in either case to:

                           Andrew Lockwood, Esq.
                           Atlas Pearlman, P.A.
                           350 East Las Olas Boulevard, Suite 1700
                           Fort Lauderdale, Florida 33301

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                  6.2      This Agreement sets forth the entire agreement of the
parties relating to the employment of Executive and is intended to supersede all
prior negotiations, understandings and agreements. No provisions of this
Agreement, may be waived or changed except by a writing by the party against
whom such waiver or change is sought to be enforced. The failure of any party to
require performance of any provision hereof or thereof shall in no manner affect
the right at a later time to enforce such provision.

                  6.3      All questions with respect to the construction of
this Agreement, and the rights and obligations of the parties hereunder, shall
be determined in accordance with the law of the State of Florida applicable to
agreements made and to be performed entirely in Florida.

                  6.4      This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of the Company. This Agreement shall not
be assignable by Executive, but shall inure to the benefit of and be binding
upon Executive's heirs and legal representatives.

                  6.5      Should any provision of this Agreement become legally
unenforceable, no other provision of this Agreement shall be affected, and this
Agreement shall continue as if the Agreement had been executed absent the
unenforceable provision.

                  IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first above written.

                                -----------------------------------------
                                HOWARD B. LANDERS

                                SHOCHET HOLDING CORP.

                                -----------------------------------------
                                By: Roger Gladstone, Chief Executive Officer

                                       10INTERCOMPANY SERVICES AGREEMENT

         This Intercompany Services Agreement ("Agreement"), dated as of ______
__, 2000, by and among Research Partners International, Inc., a Delaware
corporation ("RPII"), Shochet Holding Corp., a Delaware corporation ("Shochet
Holding") and Shochet Securities, Inc., a Florida corporation ("Shochet
Securities" and together with Shochet Holding, "Shochet").

         WHEREAS, Shochet Holding, through its wholly-owned subsidiary Shochet
Securities, offers, full service discount brokerage, telephonically, in-person
and through the Internet ("Shochet Business").

         WHEREAS, in November 1999, RPII exchanged all of its shares of Shochet
Securities, which constituted all of the outstanding capital stock of Shochet
Securities, to Shochet Holding in exchange for 1,200,000 shares of the common
stock of Shochet Holding, then constituting all of the outstanding capital stock
of Shochet Holding.

         WHEREAS, upon consummation of the intended public offering of Shochet
Holding, RPII will maintain its majority ownership position in Shochet Holding,
which in turn will continue to own all of the outstanding common stock of
Shochet Securities.

         WHEREAS, RPII, through its other operating subsidiaries, GKN Securities
Corp., Research Partners International, AG, Dalewood Associates, Inc. and
EarlyBirdCapital.com Inc., provides institutional investment banking, securities
brokerage, trading services and merchant banking and engages in certain of such
businesses, telephonically, in person and/or through the Internet.

         WHEREAS, RPII has been providing certain services to Shochet directly
or indirectly through its other operating subsidiaries.

         WHEREAS, Shochet desires RPII to continue to provide certain services
to Shochet and Shochet agrees to provide certain services to RPII, all on a cost
reimbursement basis in accordance with the terms of this Agreement.

         WHEREAS, RPII agrees to continue to provide certain services to Shochet
and desires Shochet to provide certain services to RPII, all on a cost
reimbursement basis in accordance with the terms of this Agreement.

         NOW, THEREFORE, in consideration of the mutual premises contained
herein, the parties to this Agreement agree as follows:

         1. Services by RPII. As reasonably requested by Shochet, RPII will
provide services to Shochet in connection with the operation of Shochet's
business, including rendering services regarding: accounting and bookkeeping,
financial planning and financial reporting, internal audit, records management,
payroll management, purchasing assistance, regulatory compliance, human
resources management, tax reporting and tax filing, financial analysis and
office services. Services may be provided by RPII or any of its affiliates, as
determined by RPII. In addition, Shochet will be permitted to use office space
of RPII at One State Street Plaza, New York, New York as mutually agreed upon by
RPII and Shochet.

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         2. Reimbursement by Shochet. As compensation for RPII's services,
Shochet will pay to RPII its direct and reasonable costs related to performing
such services. The office space of RPII used by Shochet will be compensated for
on the basis of allocable square footage used by Shochet at the rate RPII is
required to pay under its lease. This obligation will extend to reimbursement
for the cost of services performed prior to the effective date of this Agreement
which have been accrued, but not paid. All invoices will be due and payable
within 10 days of receipt. RPII, unless otherwise agreed, will not be obligated
to advance funds for the costs or expenses of Shochet's operations or
obligations.

         3. Services by Shochet. Shochet will provide services to RPII within
Shochet's then ordinary scope of business, from time to time, as requested by
RPII.

         4. Reimbursement by RPII. In compensation for Shochet's services, RPII
will pay to Shochet its direct and reasonable costs related to performing such
services including all of its overhead and related expenses attributable to
performing the services. All invoices will be due and payable within 10 days of
receipt. Shochet, unless otherwise agreed, will not be obligated to advance
funds for the costs or expenses of RPII operations or obligations.

         5. Third-Party Services for Shochet. As reasonably requested by
Shochet, using commercially reasonable efforts, RPII will arrange for
independent third-parties to provide certain of the services referenced in
section 1 above to Shochet. Third-party services may include, but not be limited
to, suppliers of goods and services, bank services, clearing services, warehouse
charges for centralized records storage, delivery charges, and tax preparation
and payment. The costs that are incurred by RPII to third-party suppliers of
services or products on behalf of Shochet will be reimbursed promptly (at actual
cost) by Shochet or, if directed by RPII, will be paid directly to the
third-party suppliers. RPII will submit to Shochet all bills or other supporting
documentation relating to third-party suppliers. To the extent third-party
services are incurred for the benefit of all affiliates of RPII, these costs
will be reimbursed by Shochet on an allocated basis, provided that the
allocation will be applied consistently among all the affiliates based on the
use of the services supplied by the third-party.

         6. Standard of Care. RPII and Shochet will provide the services
described herein during the term of this Agreement in accordance with the terms
and conditions set forth herein. Each of RPII and Shochet will perform its
responsibilities hereunder in a diligent, careful and vigilant manner. The
services are to be of a scope and quality not less than those generally
performed by the RPII or Shochet employees for the benefit of their respective
employers. Each of RPII and Shochet will make available to the other the full
benefit of the judgement, experience and advice of the employees performing
services for the other.

         7. Personnel. In performances of the services hereunder, each of RPII
and Shochet may use their personnel or the personnel of their affiliates as may
be necessary to perform the obligations required by this Agreement at their
expense. The cost of the services performed by such employee, however, shall be
reimbursed by the party on whose behalf the services were performed in
accordance with Sections 2 or 4 hereof, as the case may be.

         8. Term. The term of this Agreement will commence on the date the
registration statement filed by Shochet Holding with the Securities and Exchange
Commission ("SEC") is declared effective by the SEC and will end on the earlier
of (i) the date that RPII no longer owns 50% of the outstanding capital stock of
Shochet Holding having the right to cast a majority of the votes

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entitled to vote on all matters on which the holders of the common stock of
Shochet Holding are entitled to vote, or (ii) the third anniversary of the date
of this Agreement.

                  Shochet Holding will have the right to terminate this
Agreement immediately: (i) if RPII is in material breach of any of its
obligations hereunder, which breach is not cured within 20 days of receipt of
written notice from Shochet Holding of the breach, (ii) if RPII is the subject
of a voluntary petition in bankruptcy or any voluntary proceeding relating to
insolvency, receivership, liquidation, or composition for the benefit of
creditors, if such petition or proceeding is not dismissed within 60 days of
filing, or becomes the subject of any involuntary petition in bankruptcy or any
involuntary proceeding relating to insolvency, receivership, liquidation, or
composition for the benefit of creditors, if such petition or proceeding is not
dismissed within 60 days of filing, (iii) if the business of RPII is liquidated
or otherwise terminated for insolvency or any other basis, or (iv) if RPII
becomes insolvent or unable to pay its debts as they mature or makes an
assignment for the benefit of its creditors.

                  RPII will have the right to terminate this Agreement
immediately: (i) if either of Shochet Holding or Shochet Securities is in
material breach of any of its obligations hereunder, which breach is not cured
within 20 days of receipt of written notice from RPII of the breach, (ii) if
either of Shochet Holding or Shochet Securities is the subject of a voluntary
petition in bankruptcy or any voluntary proceeding relating to insolvency,
receivership, liquidation, or composition for the benefit of creditors, if such
petition or proceeding is not dismissed within 60 days of filing, or becomes the
subject of any involuntary petition in bankruptcy or any involuntary proceeding
relating to insolvency, receivership, liquidation, or composition for the
benefit of creditors, if such petition or proceeding is not dismissed within 60
days of filing, (iii) if the business of either Shochet Holding or Shochet
Securities is liquidated or otherwise terminated for insolvency or any other
basis, or (iv) if either of Shochet Holding or Shochet Securities becomes
insolvent or unable to pay its debts as they mature or makes an assignment for
the benefit of its creditors.

                  Either RPII or Shochet Holding may terminate this Agreement
upon not less than 60 days notice to the other, which notice will state the date
on which termination will be effective, provided notice of termination given by
Shochet Holding shall be approved by a majority of its directors who are not
employees, directors or officers of RPII.

                  No exercise by a party of its right to terminate this
Agreement will limit its remedies by reason of the other party's default, the
party's right to exercise any other rights under this section or any of that
party's other rights.

         9. Directors and Officers Duties. Nothing in this Agreement will limit
or restrict the right of any of the RPII directors, officers or employees to
engage in any other business or devote their time and attention in part to the
management or other aspects of any other business, whether of a similar nature,
or to limit or restrict the right of RPII to engage in any other business or to
render services of any kind to any corporation, firm, individual, trust or
association.

         10. Independent Contractors. Each of RPII and Shochet is an independent
contractor and when its employees act under the terms of this Agreement, they
will be deemed at all times to be under the supervision and responsibility of
their employer; and no person employed by RPII or Shochet and acting under the
terms of this Agreement will be deemed to be acting as agent or employee of the
other for any purpose whatsoever.

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         11. Other Agreements. From time to time one party may find it necessary
or desirable either to enter into agreements covering services of the type
contemplated by this Agreement to be provided by persons other than RPII or
Shochet, as the case may be. Nothing in this Agreement will be deemed to limit
in any way the right of RPII or Shochet to acquire services from others or to
enter into other agreements.

         12. No Waiver. No failure or delay on the part of any party in
exercising any right, power or privilege hereunder will operate as a waiver
thereof, nor will any single or partial exercise thereof preclude any other or
future exercise thereof or the exercise of any other right, power or privilege.

         13. Successors and Assigns. This Agreement will inure to the benefit
of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties hereto, provided however, that neither party may
assign its rights or obligations hereunder without the consent of the other
party hereto, except that RPII may assign its rights and obligations hereunder
to any affiliate of RPII other than Shochet Holding or Shochet Securities
without obtaining the consent of Shochet Holding. Any assignment will not
relieve RPII of its rights or obligations hereunder.

         14. Amendments. Any amendment, supplement or modification of or to any
provision of this Agreement, any waiver of any provision of this Agreement, and
any consent to any departure from the terms of any provisions to this Agreement
will be made in writing, signed by the parties hereto, and will be effective
only (a) in the specific instance and for the specific purpose for which it is
made or given; and (b) if approved by a majority of the directors of Shochet who
are not affiliated with RPII.

         15.      Notices. Unless otherwise specifically provided, all notices,
demands, statements and communications required hereunder will be in writing and
will be sent by registered or certified mail, if intended for RPII addressed
thereto at

                  Research Partners International, Inc.
                  One State Street Plaza
                  New York, New York 10004
                  Attention: Mr. John P. Margaritis, Chief Executive Officer

and if intended for Shochet addressed thereto at

                  Shochet Holding Corp.
                  2351 East Hallandale Beach Boulevard
                  Hallandale, Florida 33998
                  Attention: Roger N. Gladstone, Chief Executive Officer

         16. Captions. The captions of this Agreement are inserted only for the
purpose of convenient reference and do not define, limit or prescribe the scope
or intent of this Agreement or any part hereof.

         17. Governing Law. This Agreement will be governed by, and construed
under, the laws of the State of New York without regard to the principles of
conflicts of law thereof.

                                        4

<PAGE>

         18. Severability. In case any one or more of the provisions contained
in this Agreement should be invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby.

         19. Entire Agreement. This Agreement integrates all the terms and
conditions mentioned herein or incidental hereto and supersedes all oral
negotiations and prior writings in respect to the subject matter hereof. In the
event of any conflict between the terms, conditions and provisions of this
Agreement and any other agreement, document or instrument to which the parties
hereto are bound, the terms, conditions and provisions of this Agreement shall
prevail.

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

                             SHOCHET HOLDING CORP.

                             By: ____________________________________
                                   Name: Roger N. Gladstone
                                   Title: Chief Executive Officer

                             SHOCHET SECURITIES, INC.

                             By: _____________________________________
                                   Name: Roger N. Gladstone
                                   Title: Chief Executive Officer

                             RESEARCH PARTNERS INTERNATIONAL, INC.

                             By: _____________________________________
                                   Name: John P. Margaritis
                                   Title: President and Chief Executive Officer

                                        5

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