Document:

Exhibit 10.1

                                LICENSE AGREEMENT

      LICENSE AGREEMENT (this "Agreement") as of November 21, 2005 (the
"Effective Date") by and between DREESEN'S ENTERPRISES, INC., a New York
corporation ("Licensor"), and NEWTOWN LANE MARKETING, INCORPORATED, a Delaware
corporation.

      A. Licensor has the exclusive rights to manufacture, market, package and
promote doughnuts under the Licensed Mark (as that term is hereinafter defined)
with respect to the Licensed Product (as that term is hereinafter defined).

      B. Licensor entered into a Master License Agreement (the "Master License")
with Donut Licensing Company, LLC ("DLC") pursuant to which DLC acquired the
exclusive right to manufacture, market, package and promote doughnuts under the
Licensed Mark with respect to the Licensed Product (as that term is hereinafter
defined) in the states of Pennsylvania and Florida, and provided DLC enters into
a certain number of sublicenses within the initial term of its agreement, the
territory covered by the Master License will include the entire United States,
exclusive of Suffolk County, New York.

      C. Licensee desires to obtain a license to market and promote the Licensed
Product using the Licensed Mark (as that term is hereinafter defined) and to
grant sublicenses for the manufacture, sale, marketing and promotion of the
Licensed Product using the Licensed Mark, within the Exclusive Territory (as
hereinafter defined), and a non-exclusive sublicense to grant sublicenses for
the manufacture, sale, marketing and promotion of the Licensed Product using the
Licensed Mark, within the Non-exclusive Territory (as hereinafter defined,
collectively with the Exclusive Territory, the "Territory"), and Licensor is
willing to grant such rights and licenses to Licensee, all on the terms and
subject to the conditions hereinafter set forth.

      NOW, THEREFORE, in consideration of the premises, the mutual promises set
forth below and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Licensor and Licensee agree as
follows:

      1. Definitions. The following definitions shall be applicable throughout
this Agreement:

            1.1 The term "Licensed Mark" means the trademark "DREESEN'S FAMOUS
DONUTS(R)", in the type style and type face set forth on Exhibit "A" hereto,
unaccompanied by any additional word, mark or symbol except as otherwise
specifically approved in writing by Licensor, in its sole discretion.

            1.2 The term "Licensed Product" means doughnuts manufactured,
packaged, promoted and sold under the Licensed Mark made from certain
ingredients and the secret original recipe created and developed by Rudolph S.
DeSanti.

            1.3 The term "Exclusive Territory" means all of the states and
territories within the United States except for Florida, Pennsylvania and
Suffolk County, New York.

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            1.4 The term "Non-exclusive Territory" means the states of Florida
and Pennsylvania.

            1.5 The term "Territory" means all of the states and territories
within the United States except for Suffolk County, New York.

            1.6 The term "Initial Term" means the period of approximately two
years commencing on the Effective Date and ending on December 31, 2007, unless
sooner terminated as provided herein. "Term" means the Initial Term and any
renewal or continuation thereof.

            1.7 The term "Start-up Kit" means a grouping of products consisting
of the donut making machine known as the "Donut Robot," initial promotional
materials and an initial supply of the Product Ingredients, as more fully
described on Exhibit "B".

            1.8 The term "New Customers" means all sublicensees of Licensee
which purchase Start-up Kits from Licensee during the term of this Agreement,
but shall not include any of the customers identified on Exhibit "C", or any
sublicensees who purchase Start-up Kits directly from Licensor.

      2. Granted Rights and Reservation.

            2.1 License Grant. Subject to the terms and provisions of this
Agreement, Licensor hereby grants to Licensee, and Licensee hereby accepts:

                  (i) a non-exclusive right and license, during the Term of this
            Agreement, within the Territory, to market and promote the Licensed
            Product, to use the Licensed Mark in connection therewith, and with
            respect to advertising and promotion materials relating thereto

                  (ii) the sole and exclusive right and license in the Exclusive
            Territory and a non-exclusive right and license in the Non-Exclusive
            Territory, to grant non-exclusive, restricted sublicenses to third
            parties ("Sublicensees"), to manufacture, market, package, promote
            and make retail sales of the Licensed Product utilizing the Licensed
            Mark to consumers provided: (i) the sale of the Licensed Product by
            each Sublicensee shall be limited solely to a specified retail
            location, (ii) such retail location does not use the Licensed Mark
            to identify the retail location or form part of such Sublicensee's
            business or entity name, (iii) such retail location must offer other
            products and services for sale to consumers, (iv) the sale of the
            Licensed Product must constitute less than fifty (50%) percent of
            all products and services offered for sale at such retail location
            by such Sublicensee, (v) the term of each sublicense shall be for no
            more than 5 years and (vi) each sublicense shall provide that upon
            termination of this Agreement the sublicense shall become a direct
            agreement between the Sublicensee and Licensor except that Licensor
            shall not be liable for any obligation of Licensee thereunder.

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            2.2 Licensor's Reserved Rights. Excluded from the license granted
herein are any and all rights granted by Licensor to DLC pursuant to the Master
License or pursuant to the terms of certain license agreements between Licensor
and the parties identified on Exhibit "C", annexed hereto, and the rights
retained by Licensor and DLC to market, package and promote the Licensed Product
and to use the Licensed Mark on or in connection with the Licensed Product, and
advertising and promotion relating thereto, and to grant sublicenses within the
Non-exclusive Territory. All rights other than those expressly granted by this
Agreement are reserved by Licensor for its own use and benefit subject to the
limitations expressly stated in this Agreement. The foregoing shall not be
deemed to prohibit Licensee from exercising the rights granted in Section 2.1.

            It is understood and agreed that the sale of the Licensed Product in
Suffolk County, New York, was reserved by Licensor and not subject to the
provisions of this Agreement.

      3. Term and Renewal.

            3.1 Initial Term. The Initial Term of this Agreement, and of the
license granted in it, will commence on the Effective Date of this Agreement and
will continue for the Initial Term.

            3.2 Renewal Term. Licensee shall have the option to renew the Term
of this Agreement for two (2) successive Renewal Terms of two (2) years each,
consisting of the First Renewal Term and the Second Renewal Term. Licensee's
option to renew this Agreement for each Renewal Term shall be exercisable only
by notice to Licensor given not later than three (3) months prior to the
conclusion of the then current Term. Such exercise shall be effective only if
Licensee is in compliance with all the material terms and conditions of this
Agreement at the time the option is exercised and upon the commencement of such
renewal term and, provided Licensee has valid and existing sublicenses equal to
or exceeding the following respective amounts:

            Current Term                Cumulative Number of Sublicenses
            ------------                --------------------------------

            Initial Term                              100

            First Renewal Term                        100

            *Exclusive of any existing licensees of the Licensor or DLC who
become sublicensees of the Licensee.

      4. Licensed Product/Licensee's Obligations/Licensor's Obligations.

            4.1 Proprietary Mixture. Licensee acknowledges that the ingredients
of the Licensed Product, the recipe for the doughnut mixture and the process of
manufacture of the Licensed Product constitute Master Licensor's valuable
proprietary confidential information and trade secrets. Licensee agrees to
safeguard and not disclose and agrees to cause its Sublicensees to safeguard and
no disclose such proprietary confidential information.

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            4.2 Product Ingredients. Licensee shall manufacture and shall
require all Sublicensees to manufacture the Licensed Product using the following
ingredients (the "Product Ingredients"):

                  (i)   Dreesen's Famous Donut proprietary original recipe
                        mixture (the "Mix");

                  (ii)  Dreesen's brand shortening ("Shortening"); and

                  (iii) Dreesen's brand of doughnut sugar for coating the
                        doughnuts ("Sugar").

            4.3 Start-up Kit Purchases.

                  4.3.1 Except as otherwise provided, all Start-up Kits to be
      used in connection with the manufacture and sale of the Licensed Product
      by Licensee and its Sublicensees shall be purchased by the Licensee from
      Licensor or such party as Licensor may designate. The initial price for
      the purchase of a Start-up Kit is set forth on Exhibit "B" annexed hereto.
      Prices for the Start-up Kits may be increased by Licensor, at any time, on
      no less than thirty (30) days prior notice to Licensee to reflect
      increases in the prices paid by Licensor for the components of the
      Start-up Kits. Prices do not include transportation and insurance costs or
      any federal, state or local sales, use or excise or other taxes which are
      to be paid by Licensee unless a Licensee provides Licensor with a valid
      resale certificate. The parties agree, on or about the first anniversary
      of the Effective Date of this Agreement, to review the situation with
      respect to Licensee's performance hereunder to determine whether it is
      appropriate to increase the amount paid to Licensor for the Start-up Kit.

                  4.3.2 Notwithstanding the provisions of Section 2.1(ii),
      Licensee agrees that Licensor may make direct sales of Start-up Kits to
      prospective sublicensees. In the case of such sales, such prospective
      sublicensees shall sign a sublicense agreement with Licensee and the
      obligations of the Licensor under this Agreement shall otherwise be
      applicable except that payment for the Start-up Kit shall be made directly
      to Licensor and Licensor shall pay to Licensee the sum of $1,000 for each
      such sublicense procured by Licensor.

                  4.3.3 Licensee shall provide Licensor with an ongoing three
      month forward looking rolling forecast with respect to Licensee's
      requirements of Start-up Kits. Licensee will provide such forecast based
      on commercially reasonable efforts but such forecast shall not obligate
      Licensee to pre-purchase, place orders or assume the cost for such
      forecasted Product Ingredients.

                  4.3.4 Payment for Start-up Kits shall be due and payable upon
      submission of a purchase order to Licensor. Unless otherwise approved by
      Licensor in advance, payment for Product Ingredients shall be due and
      payable upon delivery. All amounts past due shall incur interest at the
      rate of 1.5% per month or at the highest rate permitted by law, whichever

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      is less. Each shipment of Product Ingredient shall be considered a
      separate and independent transaction. All shipments and deliveries covered
      by a purchaser order shall at all times be subject to the credit approval
      of Licensor.

            4.4 Product Ingredient Purchases.

            4.4.1 Licensor shall directly sell to all Sublicensees such Product
      Ingredients as they may request for the manufacture of Licensed Product
      during and after the Term of this Agreement. Licensor shall pay to
      Licensee $2.50 for each box (30 lbs.) of Mix sold to New Customers after
      the Effective Date and for all reorders of each box of Mix by New
      Customers. If boxes are sold in sizes other than 30 lbs. the amount paid
      to Licensee will be adjusted appropriately so that Licensee is paid in
      respect of each box sold the greater of $2.50 or such portion of
      Licensor's gross margin on the sale of each box as $2.50 represents of the
      gross margin on a 30 lb. box. The payments by Licensor to Licensee on
      sales of Product Ingredients and other products provided for in this
      Section shall terminate upon expiration or termination of this Agreement.

            4.5 Licensed Product Materials.

            4.5.1 All advertising and the use of promotional materials, cartons,
      containers, wrapping material, display material or other materials
      (collectively referred to as "Materials") and bearing the Licensed Mark
      shall be subject to the prior written approval of Licensor, not to be
      unreasonably withheld or delayed.

            4.5.2 Fifty (50%) percent of the net profit derived from sales of
      promotional materials by Licensee shall be paid to Licensor. Licensee may
      sell such items to Sublicensees and third parties.

            4.6 Equipment. The Licensed Product shall be produced solely
utilizing a machine known as the "Donut Robot." The "Donut Robot" machine shall
be purchased or leased by each Sublicensee from Licensor. Licensor makes no
representations or warranties with respect to the availability, use or operation
of the "Donut Robot." The use of any other equipment in connection with the
manufacture of the Licensed Product shall be subject to the prior written
approval of Licensor, which approval shall be within the sole discretion of
Licensor. Licensor reserves the right to designate another donut making machine
in place of the "Donut Robot."

            4.7 Quality Standards. The Licensed Product may not be sold under
any trademark or trade name other than the Licensed Mark, except that the
Licensed Product's packaging may identify the Licensee or Sublicensee, as the
case may be, as the source of such merchandise. Licensee shall be responsible
for ensuring that the Licensed Product produced by Licensee and its Sublicensees
and any actions undertaken by it and its Sublicensees satisfy all of the
requirements of this Agreement. Licensee assumes all responsibility for any
actions taken by Sublicensees relating to the use of the Licensed Mark and the
manufacture, sale or distribution of the Licensed Product.

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            4.8 Commercially Reasonable Efforts. Licensee, from and after the
execution of this Agreement, shall diligently proceed with and use commercially,
reasonable efforts (i) to proceed with the manufacture, sale and marketing of
the Licensed Product, (ii) to identify and enter into sublicense agreements with
third parties for the manufacture and sale of the Licensed Product by such third
party sublicensees, (iii) to create a demand for the Licensed Product and to
increase and expand its business in the manufacture, sale and marketing of the
Licensed Product in the Territory.

            4.9 Support. Licensor will provide New Customers and Licensee such
marketing, customer and technical support as is reasonably required from time to
time. Such support shall include shipment of Start-up Kits and Product
Ingredients, assisting Licensee in the preparation of instructional materials
relating to set-up and operation of the Donut Robot machine and manufacture of
doughnuts and reasonable ongoing technical and sales support.

            4.10 Inquiries. Any inquiries received by Licensor or their
representatives or agents regarding the sale of any of Licensed Product shall be
forwarded to Licensee.

            4.11 Audit Procedures.

            4.11.1 Within fifteen (15) days after each calendar month, Licensee
shall furnish or cause to be furnished to Licensor and Licensor shall furnish or
cause to be furnished to Licensee, a written report covering such month showing,
in the case of Licensee, the sales of Materials and the amount due Licensor in
respect of the same in accordance with Subsection 4.5.2 (and the calculation of
such amounts), and, in the case of Licensor, showing the amount of Product
Ingredients other items and Start-up Kits sold by Licensor, Master Licensor, and
the amount due Licensee in respect of the same in accordance with Subsections
4.3.2 and 4.4.1 (and the calculation of such amounts) and, in each case,
withholding taxes, if any, required by law to be deducted in respect of such
amounts. The report shall be accompanied by the payment of all monies due at
that time.

            4.11.2 Each party shall have the right, at its own expense, for the
period during which payments are due such party pursuant hereto and for one (1)
year thereafter, to have an independent accountant to whom the other party has
no reasonable objection examine the relevant books and records of account of the
other party during normal business hours and no more than once during each
calendar year, to verify the accuracy of the reports called for by this Section
and to determine whether appropriate payment has been made by hereunder. If the
report of either party's (the "Examiner") independent accountant shows an
underpayment of amounts due, the other party (the "Payer") shall promptly remit
the amount of such underpayment.

            4.12 Regulatory Matters; Compliance with Laws. Licensee shall be
responsible for obtaining all necessary governmental approvals, registrations,
consents, licenses and permits in connection with the rights and licenses
granted to Licensee in this Agreement (collectively, "Approvals"), and complying
with any all applicable statutory, administrative or regulatory requirements
(collectively, "Laws") relating thereto.

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      5. Quality Assurance Procedures.

            5.1 Product Quality Standard and Review.

            5.1.1 Licensee agrees to manufacture, and to cause its Sublicensees
      to manufacture, the Licensed Product in accordance with the requirements
      of this Agreement. The Licensed Product shall consist of first quality,
      unadulterated food products, and will, in all material respects, conform
      to the standards established by Licensor.

            5.1.2 Any approval for a particular Product Ingredient once given
      may be withdrawn if it appears that such Product Ingredient does not
      conform to Licensor's standards as then in effect or in any other manner
      does not comply with this Agreement.

            5.1.3 If, at any time, Licensor shall make any changes to the
      Licensed Product, the particular ingredients constituting the Licensed
      Product, or the recipe for the Mix which shall require the withdrawal of
      approval of any ingredient previous1y approved by Licensor, Licensor shall
      notify Licensee that such approval has been withdrawn and the reasons
      therefor. Licensor shall give Licensee at least thirty (30) days notice of
      withdrawal, except if such withdrawal of approval is for health, legal or
      ethical reasons, in which event withdrawal of approval shall be effective
      upon the delivery of such notice. If such withdrawal of approval is for
      any reason other than health, legal or ethical reasons, Licensee and its
      Sublicensees can continue using existing Product Ingredients until such
      inventory is exhausted.

            5.2 Inspections. Licensor, or its designees, shall have the right
(but not the obligation) at all reasonable times during normal business hours to
inspect the operations of Licensee and its Sublicensees, with the view to
assuring that the manufacture of the Licensed Product meet the quality standards
set forth herein and that the Licensed Product is being sold in conformity with
the provisions of this Agreement.

      6. Ownership and Use of Trademark.

            6.1 Trademark Ownership. All use of the Licensed Mark pursuant to
this Agreement by Licensee and its Sublicensees will inure to the benefit of
Licensor. All rights in the Licensed Mark other than those specifically granted
in this Agreement are reserved to Licensor for its own use and benefit. Licensee
recognizes the great value of the Licensed Mark to Licensor, and during the Term
of this Agreement or thereafter, Licensee will not attack Licensor's title in
and to the Licensed Mark or DLC's rights under the Master License in any
jurisdiction or attack the validity of this license.

            6.2 Trademark Registrations. Licensor may, in its sole discretion
and sole cost and expense, file applications for registration of the Licensed
Mark for the Licensed Product, or amend existing registrations to cover such
Licensed Product. Licensee will execute and deliver, and will cause its
Sublicensees to execute and deliver, to Licensor, at any time whether during or
after the Term of this Agreement, without charge, such documents, and will take

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such other action, as Licensor may reasonably request to confirm or protect the
ownership rights of Licensor, to record this license, or to enter or terminate
Licensee as a registered user. Licensor shall also, at its sole cost and
expense, take all necessary actions to maintain trademark registrations of the
Licensed Mark in full force and effect during the Term. Licensee shall not
register or attempt to register the Licensed Mark in its own name or the name of
any third party in the United States or elsewhere; in the event that any such
registration issues, Licensee shall immediately assign or cause the assignment
of all of Licensee's or such third party's right, title and interest in and to
such registration to Licensor.

            6.3 Trademark Display and Marking. Licensee will display the
Licensed Mark only in such form and manner as are specifically approved in
writing by Licensor. Licensee will cause to appear on all Licensed Product, or
on their containers, labels, tags and the like, and on all advertising,
promotional and display materials, and on all stationery and transaction
documents displaying the Licensed Mark, such legends, markings and notices as
may be legally required in the territory of manufacture or sale or as Licensor
may reasonably request.

            6.4 Prohibited Trademark Uses.Licensee will not use the Licensed
Mark (i) as part of a trademark combining the Licensed Mark with another mark,
(ii) as a corporate name, trade name or any other designation to identify
Licensee or any subsidiary or affiliate, or (iii) in any manner other than as a
trademark.

            6.5 Enforcement Against Infringers. In the event that Licensee
becomes aware of any activities or events which it suspects may constitute an
infringement by one or more third parties of the rights granted to Licensee
under this Agreement with respect to the Licensed Mark, Licensee shall promptly
give notice to Licensor of such infringement. Licensor shall then have the
right, in its sole discretion and at its expense, to take such actions as it may
deem necessary and appropriate to protect and defend the rights granted in this
Agreement, including, but not limited to, the institution of appropriate legal
proceedings. If requested by Licensor, Licensee will join with Licensor in such
actions or proceedings at Licensor's expense. Licensor shall be entitled to
retain all monetary recoveries resulting from such actions or proceedings or
their settlement. In the event that Licensor fails to take any action against an
infringer after notice thereof from Licensee then Licensee may do so at
Licensee's expense, and the monetary recoveries resulting from such actions or
proceedings shall be retained by Licensee.

            6.6 Future Grants. For so long as this Agreement is in effect,
Licensor shall not grant to any third party the right to grant sublicenses as
provided in Section 2.1(ii) hereof.

      7. Representations and Warranties.

            7.1 Representations and Warranties by Licensor. Licensor hereby
makes the following representations and warranties for the benefit of Licensee:

            7.1.1 Ownership of Licensed Assets. Licensor is the sole, true and
      lawful owner of the Licensed Mark. The Master License is in full force and
      effect.

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            7.1.2 No Third Party Rights. Except for Licensee, Licensor, DLC and
      the sublicensees identified on Exhibit "C", no person has any rights to
      use any of the Licensed Mark as a trademark.

            7.1.3 Licensor's Condition. Licensor is a corporation duly
      organized, validly existing, and in good standing under the laws of the
      State of New York, and is duly qualified and is in good standing in each
      jurisdiction in which the nature of its business requires it to be so
      qualified.

            7.1.4 Licensor's Authority. Licensor has the power and authority to
      own its property and assets, to conduct its business as it is now being
      conducted, and, subject to the consent of DLC as to the provisions of this
      Agreement that conflict with those in the Master License, to execute and
      deliver this Agreement and to perform the transactions contemplated
      hereby.

            7.1.5 Effect of this Agreement. The execution, delivery and
      performance of this Agreement and the transactions contemplated hereby:
      (a) have been duly authorized by all necessary corporate action on the
      part of Licensor; (b) subject to the consent of Master Licensor as to the
      provisions of this Agreement that exceed or conflict with those in the
      Master License, do not contravene or cause Licensor to be in default under
      its charter or by-laws, any contractual restriction contained in any
      indenture, loan or credit agreement, lease, mortgage, security agreement,
      bond, note or other agreement or instrument binding on or affecting
      Licensor or its property or assets or any law, rule, regulation, order,
      writ, judgment, award, injunction or decree applicable to, binding on or
      affecting Licensor or its property or assets; and (c) do not result in the
      creation or imposition of any lien, charge or encumbrance of any nature
      whatsoever upon any of the properties or assets of Licensor, except as
      expressly contained herein or pursuant to the documents attached as
      Exhibits hereto.

            7.1.6 No Other Consents Required. No consent of or other action by,
      and no notice to or filing with, any governmental agency or other party is
      required for the execution, delivery and performance by Licensor of this
      Agreement.

            7.1.7 Enforceability of this Agreement. This Agreement has been duly
      executed and delivered on behalf of Licensor and is the legal, valid and
      binding obligation of Licensor enforceable against Licensor in accordance
      with its terms.

            7.2 Representations and Warranties by Licensee. Licensee hereby
makes the following representations and warranties for the benefit of Licensor:

            7.2.1 Licensee's Condition. Licensee is a corporation duly organized
      and validly existing under the laws of the State of Delaware, and is duly
      qualified and is in good standing in each jurisdiction in which the nature
      of its business requires it to be so qualified.

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            7.2.2 Licensee's Authority. Licensee has the power and authority to
      own its properties and assets, to conduct its business as it is now being
      conducted and to execute and deliver this Agreement to perform the
      transactions contemplated hereby.

            7.2.3 Effect of this Agreement. The execution, delivery and
      performance of this Agreement and the transactions contemplated hereby:
      (a) have been duly authorized by all necessary action on the party of
      Licensee; (b) do not contravene or cause Licensee to be in default under
      its articles of organization or operating agreement, any contractual
      restriction contained in any indenture, loan or credit agreement, lease,
      mortgage, security agreement, bond, note or other agreement or instrument
      binding on or affecting Licensee or its property or assets or any law,
      rule, regulation, order, writ, judgment, award, injunction or decree
      applicable to, binding on or affecting Licensee or its property or assets;
      and (c) do not result in the creation or imposition of any lien, charge or
      encumbrance of any nature whatsoever upon any of the properties or assets
      of Licensee, except as expressly contained herein or pursuant to the
      documents attached as Exhibits hereto.

            7.2.4 No Other Consents Required. No consent of or other action by,
      and no notice to or filing with, any governmental agency or other party is
      required for the execution, delivery and performance by Licensee of this
      Agreement.

            7.2.5 Enforceability of this Agreement. This Agreement has been duly
      executed and delivered on behalf of Licensee and is the legal, valid and
      binding obligation of Licensee enforceable against Licensee in accordance
      with its terms.

      8. Confidentiality.

            8.1 All information, whether written, oral or in any other form or
medium, provided and/or revealed to Licensee pursuant to this Agreement and/or
otherwise relating to Licensor's and Master Licensor's business and affairs
(collectively "Confidential Information") will be treated as confidential by
Licensee and will not be used or disclosed to any person by Licensee, its
mangers, officers, agents and employees, without the prior written consent of
Licensor. All Confidential Information will be maintained by Licensee in
confidence. Licensee will not disclose Confidential Information, or permit
Confidential Information to be disclosed, to any person, except to the
employees, agents or representatives of Licensee or to its Sublicensees, who
need to know the Confidential Information, who are informed of the confidential
nature of the Confidential Information and who agree to be bound to maintain its
confidentiality. The obligation not to disclose Confidential Information will
not apply to information that (i) is or becomes generally available to the
public other than as a result of disclosure by Licensee or any of its
Sublicensees, (ii) was readily available to Licensee on a non-confidential basis
prior to disclosure, (iii) was in the Licensee's lawful possession as evidenced
by records kept in the ordinary course of business or by proof of actual
possession prior to Licensor's disclosure of such information to Licensee, (iv)
becomes available to Licensee on a non-confidential basis from a source other

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than Licensor which source is not known by Licensee or by any legal, fiduciary
or ethical constraints on disclosure, or (v) is required to be disclosed
pursuant to order or decree of any judicial, administrative or other proper
authority having jurisdiction over Licensee, in which case Licensee will give
the Licensor notice prior to making disclosure, and if so requested to do so,
will use all reasonable efforts to obtain an appropriate protective order or
similar protection before making the disclosure.

      9. Indemnification / Insurance.

            9.1 Indemnification by Licensee. Licensee shall indemnify, defend
and hold harmless Licensor and its officers, employees, representatives and
agents, and its successors and assigns (collectively, the "Licensor Indemnified
Parties"), from and against any and all costs, expenses, losses, damages and
liabilities (including reasonable attorneys' fees and expenses) ("Damages")
suffered by any of the Licensor Indemnified Parties resulting from, arising out
of, relating to or incurred with respect to:

            9.1.1 any breach by the Licensee of this Agreement (including in
      respect of any representation or warranty of Licensee as of the Effective
      Date); and

            9.1.2 any suit, investigation, claim or demand by a third party
      against any Licensor Indemnified Party resulting from, arising out of,
      relating to or incurred with respect to the business, operations, conduct,
      acts or omissions of Licensee or Sublicensees, including (i) the use of
      the Licensed Mark, (ii) any failure by any such Person to comply with any
      applicable Law, (iii) acts or omissions constituting fraud, tortious
      conduct, unfair trade practices, negligence or willful misconduct, or
      resulting in damage or destruction of property, injury, death, loss or
      other damages of any kind and (iv) any agreement by or among Licensee and
      its Sublicensees or any other Person relating in any way to the Licensed
      Mark, including any termination thereof or breach thereof, except with
      respect to all of the foregoing for those Damages for which Licensor has
      an obligation to indemnify a Licensee Indemnified Party pursuant to the
      terms of Section 9.2.

            9.2 Indemnification by Licensor. Licensor shall indemnify, defend
and hold harmless Licensee and its officers, employees, representatives and
agents thereof, and Licensee's successors and assigns (collectively, the
"Licensee Indemnified Parties"), from and against any and all Damages suffered
by any of the Licensee Indemnified Parties resulting from, arising out of,
relating to or incurred with respect to:

            9.2.1 any breach by Licensor of this Agreement (including in respect
      of any representation or warranty of Licensor as of the Effective Date);

            9.2.2 any claim whether in tort, contract or otherwise, by DLC that
      the execution and delivery of this Agreement, or the grant of the rights
      provided for herein in any way infringes upon or interferes with the
      rights granted to it in the Master License.

            9.2.2 any third-party claim against any Licensee Indemnified Party
      that the use of the Licensed Mark pursuant to this Agreement violates or
      infringes the trademark, copyright, right of publicity or privacy or other
      intellectual property rights of such third-party except to the extent
      resulting from, arising out of, relating to or incurred with respect to
      (i) any use of the Licensed Mark by any Person in breach of this Agreement

                                      -11-
<PAGE>

      or by any Sublicensee, (ii) any combination the Licensed Mark with any
      other mark or (iii) the provision of any product or service other than the
      Licensed Product under the Licensed Mark.

            9.3 Notification. If any demand, claim or suit is asserted or
instituted with respect to which a party may be entitled to indemnification
under the foregoing provisions, such party will give prompt notice thereof to
the party who may be liable for indemnification, including full details to the
extent known. The indemnified party will be entitled at its own expense to
participate in the defense of such asserted demand, claim or suit.

            9.4 Insurance. Licensee shall maintain at its own expense in full
force and effect at all times during which the License Product is being sold by
Licensee and any of its Sublicensees, with recognized and responsible insurance
carriers licensed to do business in the Territory, products liability insurance
coverage with limits of liability of up to Two Million Dollars ($2,000,000.00)
per accident or occurrence with respect to the manufacture, sale, marketing and
promotion of the Licensed Product. Liability coverage under such insurance
policy shall include but shall not be limited to claims resulting from accidents
or occurrences arising out of any alleged defect in the Licensed Product. Such
insurance shall be in such form and of such duration as shall insure against all
accidents or occurrences occurring at all times during which the Licensed
Product is being sold by Licensee, regardless of when claim may be made. Such
insurance shall be for the benefit of and shall name as an additional insured
Licensor, and its officers, directors and employees and shall provide at least
thirty (30) days' prior written notice to Licensor of the cancellation or
modification thereof. Contemporaneous with the execution and delivery of this
Agreement, Licensee shall provide Licensor with a certificate of insurance from
the insurance carrier setting forth the scope of coverage and limits of
liability consistent with the requirements of this Section 9.4. Licensee's
maintenance of the insurance coverage as provided herein shall not limit, excuse
or replace any of Licensee's obligations under the provisions of Section 8.1
hereof, which shall remain absolute.

      10. Termination and Remedies upon Breach.

            10.1 Termination. Licensor, at its option and in its sole
discretion, may immediately terminate this Agreement, upon or at any time after
the occurrence of any of the following events ("Events of Default"):

            10.1.1 If Licensee fails to make any payment when due, Licensor may
      give Licensee written notice specifying the default. If the payment
      obligation is undisputed and Licensee does not cure the default within
      thirty (30) days after the giving of Licensor's notice, then except as
      otherwise provided in this Agreement, Licensor may terminate this
      Agreement, effective immediately, by giving a written notice of
      termination to Licensee at any time before the default has been cured. An
      underpayment of an amount due pursuant to Subsection 4.5.2 shall not be
      grounds for termination of this Agreement if the underpayment is made up
      within the period provided in Section 4.10.

                                      -12-
<PAGE>

            10.1.2 If Licensor believes that Licensee has committed a
      substantial breach of any material representation, warranty or covenant
      under this Agreement, other than a nonpayment default, then Licensor shall
      give Licensee written notice specifying the alleged breach in reasonable
      detail. Licensee will have sixty (60) days from the giving of Licensor's
      notice to cure the breach, or if it cannot be cured within that period,
      Licensee will be obligated to commence steps to cure the breach within
      that period and to proceed diligently to cure it thereafter. If Licensee
      fails or refuses to take the required steps to cure the breach, or if
      Licensee disputes Licensor's allegation of breach, the parties will
      promptly commence good faith negotiations to resolve the dispute. If these
      negotiations fail, the provisions of Section 10.2 below will apply.

            10.1.3 If Licensee files a petition in bankruptcy, is adjudicated a
      bankrupt or files a petition or otherwise seeks relief under or pursuant
      to any bankruptcy, insolvency or reorganization statute or proceeding, or
      if a petition in bankruptcy is filed against it or it becomes insolvent or
      makes an assignment for the benefit of its creditors or a custodian,
      receiver or trustee is appointed for it or a substantial portion of its
      business or assets.

            10.1.4 If there is a transfer or issuance of ownership interests of
      Licensee and as a result thereof any entity which competes with Licensor
      in the production and distribution of donuts, including but not limited
      to, Dunkin Donuts and Crispy Creme, owns or controls a majority of the
      outstanding stock of Licensee.

            10.2 Arbitration. Upon the demand of either party, the parties will
      submit to binding arbitration pursuant to this section any unresolved
      dispute under Section 10.1.2 above, or any other dispute concerning the
      construction, interpretation or effect of this Agreement or any clause
      contained in it. The arbitration will take place exclusively in New York,
      New York in accordance with the rules and regulations of the American
      Arbitration Association then in effect, subject however, to the following
      provisions: (a) the dispute will be submitted to three (3) arbitrators, of
      which one (1) will be appointed by Licensor and one (1) will be appointed
      by Licensee, and the third by the former two; and (b) all periods of time
      provided for in the American Arbitration Awards rules of less than thirty
      (30) days will be deemed extended to thirty (30) days. Any Arbitration
      Award will be final and conclusive and binding upon the parties without
      the right to Appellate review. Any Arbitration Award will not include the
      termination of this Agreement.

            10.3 Effect of Termination. Upon the expiration or earlier
termination of this Agreement:

            10.3.1 The right of Licensee to manufacture, market, package and
      promote the Licensed Product and to use the Licensed Mark on or in
      connection with the Licensed Product shall immediately terminate.

            10.3.2 The right of Licensee to grant sublicenses shall immediately
      terminate; provided, however, the termination of the rights granted to
      Licensee pursuant to this Agreement will not terminate any Sublicenses
      granted by Licensee and Licensor shall be deemed to be substituted for
      Licensee as a sublicensor on all such Sublicenses; provided further,
      however, Licensor shall not be deemed to have assumed any obligation or
      claim by any Sublicensee against Licensee existing as of the date of
      termination of the licenses granted to Licensee pursuant to this
      Agreement.

                                      -13-
<PAGE>

            10.3.3 Licensee shall immediately deliver to Licensor a complete and
      accurate list of (i) all Sublicenses together with copies of same, and
      (ii) of Licensee's inventory of Product Ingredients. Licensee shall have
      the right to fulfill all orders from Sublicensees for Product Ingredients
      received by Licensee as of the date of termination but only to the extent
      of inventory available as of such date. Licensor shall purchase the
      remaining inventory of Product Ingredients at its cost, which sum shall
      first be applied to any obligation due from Licensee to Licensor, and the
      balance shall be paid to Licensee within ten (10) days of receipt and
      inspection of such remaining inventory.

            10.4 Surviving Obligations. The expiration or termination of this
Agreement will not release Licensee from any previously accrued obligation and
Licensee will remain bound by the provisions of this Agreement which by their
terms impose upon Licensee obligations extending beyond the date of expiration
or termination.

      11. Miscellaneous

            11.1 Assignment. Subject to the Licensee's right to grant
Sublicenses in accordance with the provisions of Section 2.1(ii) hereof, this
Agreement and the rights granted hereunder may not be assigned by Licensee
without the prior written consent of Licensor, in the Licensor's absolute
discretion.

            11.2 Binding Effect and Survival of Rights. This Agreement will
benefit and bind the parties and their respective permitted successors and
assigns.

            11.3 Notices. All notices, demands, requests and other
communications required or permitted to be given by any provision of this
Agreement will be in writing and sent by first class, regular, registered or
certified mail, commercial delivery service, overnight courier, telegraph,
telex, facsimile transmission, air or other courier, or hand delivery, to the
party to be notified addressed as follows:

      If to Licensor:         Dreesen's Enterprises, Inc.
                              33 Newton Lane
                              East Hampton, New York 11937
                              Attention: Rudolph S. DeSanti

      With Required Copy to:  Cowan, Liebowitz & Latman, P.C.
                              1133 Avenue of the Americas
                              New York, New York 10036
                              Attention: Jeremy Nussbaum, Esq.

                                      -14-
<PAGE>

      If to Licensee:         Newton Lane Marketing Incorporated
                              c/o Eaton & Van Winkle
                              3 Park Avenue, 16th Floor
                              New York, New York 10016
                              Attention: Vincent J. McGill, Esq.

      With Required Copy to:  Eaton & Van Winkle, LLP
                              3 Park Avenue, 16th Floor
                              New York, NY 10016
                              Attention:  Vincent J. McGill, Esq.

            Any such notice, demand, request or communication will be deemed to
have been given and received for all purposes under this Agreement: (a) the day
it is deposited in any official depository or receptacle of the United States
Postal Service first class certified mail, return receipt requested, postage
prepaid; (b) on the date of transmission when delivered by facsimile
transmission, (provided receipt is confirmed and such notice is promptly
confirmed by notice given by some other means described herein); (c) on the next
business day after the same is deposited with a nationally recognized overnight
delivery service that guarantees overnight delivery; and (d) on the date of
actual delivery to such party by any other means; provided, however, if the day
such notice, demand, request or communication will be deemed to have been given
and received as aforesaid is not a business day, such notice, demand, request or
communication will be deemed to have been given and received on the next
business day.

            Any party to this Agreement may change such party's address for the
purpose of notice, demands, requests and communications required or permitted
under this Agreement by providing written notice of such change of address to
all of the parties by written notice as provided herein.

            11.4 Equitable Relief Including Injunction. The parties acknowledge
that any breach of their respective obligations under this Agreement with
respect to proprietary rights or confidential information will cause immediate
irreparable injury for which there are inadequate remedies at law, and
therefore, notwithstanding the provisions of Section 10.2 hereof, the injured or
potentially injured party will be entitled to equitable relief, specifically
including an injunction, without having to post bond, prohibiting the breaching
or potential breaching party from any further breach or potential breach, in
addition to all other remedies provided by this Agreement or available at law.

            11.5 Limitation of Remedies. Neither of the parties hereto shall be
liable to the other party for any indirect, special, incidental, consequential,
exemplary or punitive damages, or for lost profits, unrealized expectations or
other similar terms, claimed by such other party resulting from such first
party's breach of its obligations, agreements, representations or warranties
hereunder, provided that nothing in this Section 11.5 shall preclude any
recovery by a party entitled to indemnification pursuant to Article 9 for such
Damages payable to any third party as a result of a third party claim.

                                      -15-
<PAGE>

            11.6 Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS
AGREEMENT, LICENSOR MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED,
WITH RESPECT TO THE LICENSED MARK AND THE OTHER MATTERS CONTEMPLATED BY THIS
AGREEMENT, INCLUDING (I) ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE, (II) ANY WARRANTY WITH RESPECT TO THE VALIDITY OR
ENFORCEABILITY OF, OR OF ANY NON-INFRINGEMENT RELATING TO, THE USE OF ANY
LICENSED MARK IN CONNECTION WITH ANY AUTHORIZED ANCILLARY SERVICE AND (III) ANY
WARRANTY ARISING THROUGH COURSE OF DEALING OR USAGE OF TRADE.

            11.7 Incorporation. All exhibits and schedules attached hereto, or
to be attached hereto, and all other agreements and instruments referred to
herein are hereby incorporated by reference into this Agreement as fully as if
copied herein verbatim.

            11.8 Further Assurances. The parties further agree that, upon
request, they will do such further acts and deeds and will execute, acknowledge,
deliver and record such other documents and instruments as may be reasonably
necessary from time to time to evidence, confirm or carry out the intent and
purpose of this Agreement.

            11.9 Lawful Authority.If any party executing this Agreement is a
corporation or limited liability company, the individual executing on behalf of
the corporation or limited liability company hereby personally represents and
warrants to all other parties that he/she has been fully authorized to execute
and deliver this Agreement on behalf of (a) the corporation pursuant to a duly
adopted resolution of its Board of Directors, or by virtue of its bylaws; or (b)
the limited liability company pursuant to a duly adopted resolution of its
members or by virtue of its operating agreement.

            11.10 Attorney's Fees. If any legal action or other proceeding
(including arbitration pursuant to this Agreement) is brought for the
enforcement of this Agreement, including the enforcement of the indemnification
provisions contained in Section 9, or because of any alleged dispute, breach,
default or misrepresentation in connection with any provisions of this Agreement
and such action is successful, the prevailing parties will be entitled to
recover reasonable attorney's fees, court costs and all reasonable expenses,
even if not taxable or assessable as court costs (including, without limitation,
all such fees, costs and expenses incident to appeal) incurred in that action or
proceeding in addition to any other relief to which such party may be entitled.

            11.11 Waivers and Consents.

            11.11.1 Each and every waiver of any covenant, representation,
                    warranty or other provision of this Agreement must be in
                    writing and signed by each party whose interests are
                    adversely affected by such waiver.

            11.11.2 No waiver granted in any one instance will be construed as a
                    continuing waiver applicable in any other instance.

                                      -16-
<PAGE>

            11.11.3 No waiver by any party to this Agreement to or of any breach
                    or default by any other party to this Agreement in the
                    performance by such other party of its obligations hereunder
                    will be deemed or construed to be a waiver of any breach or
                    default of any other party of the same or any subsequent
                    obligations hereunder.

            11.11.4 Failure on the part of any party to this Agreement to
                    complain of any act or failure to act of any party to this
                    Agreement or to declare such party in default, irrespective
                    of how long such failure continues, will not constitute a
                    waiver by the non-defaulting parties of their rights
                    hereunder.

            11.11.5 Each and every consent by any party to this Agreement must
                    be in writing signed by the party to be bound thereby. No
                    consent will be deemed or construed to be a consent to any
                    action except as described in such writing.

            11.12 Section Headings, Gender and "Person". The Section headings
contained in this Agreement are for reference purposes only and will not affect
the interpretation of this Agreement. Words used herein, regardless of the
number and gender specifically used, shall be deemed and construed to include
any other number, singular, or plural, and any other gender, masculine, feminine
or neuter, as the context requires. Any reference to a "person" herein shall
include any individual, firm, corporation, partnership, trust, governmental
authority or body, association, unincorporated organization of any other entity.

            11.13 Governing Law. This Agreement will be governed in all
respects, including validity, interpretation and effect by, and will be
enforceable in accordance with, the internal laws of the State of New York,
without regard to conflicts of laws principles.

            11.14 Severability. If any provision of this Agreement is held to be
unlawful, invalid or unenforceable under present or future laws effective during
the term hereof, such provision will be fully severable, and this Agreement will
be construed and enforced without giving effect to such unlawful, invalid or
unenforceable provision. Furthermore, if any provision of this Agreement is
capable of two (2) constructions, one of which would render such provision void,
and the other which would render such provision valid, then the provision will
have the meaning which renders it valid.

            11.15 Counterpart Execution. This Agreement may be executed in
multiple counterparts, each one of which will be deemed and original, but all of
which will be considered together as one and the same instrument. Further, in
making proof of this Agreement, it will not be necessary to produce or account
for more than one (1) such counterpart. Execution by party of a signature page
hereto will constitute due execution and will create a valid, binding obligation
of the party so signing, and it will not be necessary or required that the
signatures of all parties appear on a single signature page hereto.

                                      -17-
<PAGE>

            11.16 Amendments. Each and every modification and amendment of this
Agreement must be in writing and except as otherwise provided herein, signed by
all the parties hereto.

            11.17 Entire Agreement.This Agreement contains the entire agreement
between the parties regarding the subject matter hereof. Any prior agreements,
discussions or representations not expressly contained herein, and no party has
relied on any such prior agreements, discussions or representations as an
inducement to the execution hereof.

            11.18 Relationship of the Parties.

            11.18.1 The parties acknowledge that neither Licensee nor any
      sublicensee has been asked by Licensor to pay a direct or indirect
      franchise fee to Licensor. The parties further acknowledge that is not the
      intent of the parties that Licensor enter into a franchise relationship
      with Licensee or any of its sublicensees, and such rights as Licensor is
      provided by this Agreement are for the purpose of maintaining the
      integrity and value of the Licensed Mark, and such rights do not, and are
      not intended to, permit Licensor to control the business operations of
      Licensee or any of its sublicensees, notwithstanding that some
      sublicensees may be franchisees of Licensee.

            11.18.2 The parties further acknowledge and agree that this
      Agreement does not create a fiduciary relationship between the parties,
      and each party hereto shall be an independent contractor. The parties are
      not partners, joint venturers, or agents or in a franchisor-franchisee
      relationship and nothing in this Agreement is intended by the parties to
      create, nor shall be construed to place them in, any such relationship.

                          [Signature on following page]

                                      -18-
<PAGE>

                          COUNTERPART SIGNATURE PAGE TO
                                LICENSE AGREEMENT

                                            LICENSOR:

                                            DREESEN'S ENTERPRISES, INC.

                                            By: /s/ Rudolph S. DeSanti, Sr.
                                                --------------------------------
                                            Name:  Rudolph S. DeSanti, Sr.
                                            Title: President

                                            LICENSEE:

                                            NEWTON LANE MARKETING,
                                            INCORPORATED

                                            By: /s/ Richard M. Cohen
                                                --------------------------------
                                            Name:  Richard M. Cohen
                                            Title: Chief Executive Officer

                                      -19-
<PAGE>

                                   Exhibit "A"

                                  Licensed Mark

                                      -20-
<PAGE>

                                   Exhibit "B"

                                  Start-Up Kit

Item                                 Quantity                Amount due Licensor
----                                 --------                -------------------
"Donut Robot" Mark II Machine           1
Mix (30 lb. box)                        4
Shortening (50 lb. box)                 3
Sugar (30 lb. box)(Cinnamon)            1
Sugar (30 lb. box )(Powdered)           1
Shortening Reserve Tank                 1
7-Quart Mixer                           1
Sheet Pan (18-1/2 x 24)                 2
Window Sign                             1
Donut Apron                             1
Donut Hat                               1
Donut T-Shirt                           1                            -----------
                                                                          $9,000

                                      -21-
<PAGE>

                                   Exhibit "C"

                  Dreesen's Famous Donuts(R) Existing Licensees

--------------------------------------------------------------------------------
Dreesen's Famous Donuts          Scoop Du Jour
Corporate Office                 35 Newtown Lane
33 Newtown Lane                  East Hampton, NY 11937
East Hampton, NY 11937
--------------------------------------------------------------------------------
Bagel Buoy                       ABA International
Box 1197
Sag Harbor, NY 11963
--------------------------------------------------------------------------------
Robert Berkley                   Carversville General Store
                                 6208 Fleecydale Road
                                 Carversville, PA 18913
--------------------------------------------------------------------------------
Tiny Winy Donuts                 Heartland Brewery
65-24 162nd Street               Empire State Building
Flushing, NY 11365               350 Fifth Avenue
                                 New York, NY 10118
--------------------------------------------------------------------------------
Baltizar                         The Hole Scoop
80 Spring Street                 2777 Dixwell Avenue
New York, NY 10012               Hamden, CT 06518
--------------------------------------------------------------------------------
Homer's Variety                  Volume Services America
64 Brunell Avenue                d/b/a Certerplate Food Services
Lenox, MA 01240                  Jacob Javits Center
                                 655 West 34th Street
                                 New York, NY 10001
--------------------------------------------------------------------------------
LIC Restaurant Group             The Milk Pail
4231 9th Street                  757 Mecox Road
Long Island City, NY 11101       Water Mill, NY 11976
--------------------------------------------------------------------------------
Ottomanelli's                    Port City Java (3 locations)
1549 York Avenue                 10 South Main Street
New York, NY 10028               Greenville, SC 29601
--------------------------------------------------------------------------------
Eric Reddin                      Ronnie's Deli
"Gonuts For Donuts"              Box 160
                                 Main Street
                                 Montauk, NY 11954
--------------------------------------------------------------------------------
Route 22 Restaurant              The Sandwich Club
55 Old Route 22                  Hazelwood Drive
Armonk, NY 10504                 Westhampton, NY
--------------------------------------------------------------------------------

                                      -22-
<PAGE>

--------------------------------------------------------------------------------
The Tavern on the Green          Woodside Farms
76th Street & Central Park West  70 Woodside Lane
New York, NY 1002_               Laurel, NY 119__
--------------------------------------------------------------------------------
Tom Bailey's Market              Sunset Beach Restaurant
132 Third Avenue                 Sunset Beach
Spring Lake, NJ 07762            Shelter Island, NY
--------------------------------------------------------------------------------
"75" Main                        Metropolitan Food Service
Main Street                      The City College of the City of New York
Southampton, NY 11969            St. Nicholas Avenue
                                 New York, NY
--------------------------------------------------------------------------------
Metropolitan Food Service        Centerplate Food Service
Long Island City, NY             New York, NY
--------------------------------------------------------------------------------
Dearie's                         Gourmet Garage
Newark Valley, NY                New York, NY
--------------------------------------------------------------------------------
Cortland College                 Damerons Market
                                 2962 River Road W
                                 Goochland, VA 23063
--------------------------------------------------------------------------------
Bloominglade's                   Dock'N Donuts
Corporate Testing - Up to 20     Princeton Junction, NJ
locations
--------------------------------------------------------------------------------
Suncoast Resort and Hotel        Mariani's Garden Market
St. Petersburg, FL               Greenwich, CT
--------------------------------------------------------------------------------
American Brasserie               United States Military Academy
92nd Street & Madison Avenue     West Point, NY plus Fort Dix, NJ and two New
New York, NY                     England military locations
--------------------------------------------------------------------------------
Kevin Rambold                    WCI - The Colony, Golf and Country Club
Manchester, VT                   Bonita Springs, FL and up to 17 other club
                                 locations
--------------------------------------------------------------------------------

                                      -23-
<PAGE>

                                   Exhibit "D"

             Initial Product Ingredient Price List and Compensation

Item                            Quantity                     Amount due Licensee
----                            --------                     -------------------
Mix                           30 lb. Box                            $2.50

                                      -24-Exhibit 10.2

                      NEWTOWN LANE MARKETING, INCORPORATED

                             STOCK OPTION AGREEMENT

      THIS AGREEMENT, made as of this 4th day of April, 2006, by Newtown Lane
Marketing, Incorporated, a Delaware corporation (hereinafter called the
"Company"), with J. Barry Richman (hereinafter called the "Holder"):

      The Company has adopted a 2006 Stock Incentive Plan (the "Plan"). Said
Plan, as it may hereafter be amended and continued, is incorporated herein by
reference and made part of this Agreement.

      The Board, which in the absence of a Committee is charged with the
administration of the Plan pursuant to Section 4 of the Plan, has determined
that it would be to the advantage and interest of the Company to grant the
option provided for herein to the Holder as an inducement to remain in the
service of the Company or one of its subsidiaries, and as an incentive for
increased efforts during such service.

      NOW, THEREFORE, pursuant to the Plan, the Company hereby grants to the
Holder as of the date hereof an option (the "Option") to purchase all or any
part of seven hundred fifty thousand (750,000) shares of Common Stock of the
Company, par value $.001 per share, at a price per share of twenty-five cents
($.25), which price is not less than the fair market value of a share of Common
Stock on the date hereof (or 110% of the fair market value of a share of Common
Stock if the Holder is a 10% Holder (as defined in the Plan)), and upon the
following terms and conditions:

1. The Option shall continue in force through June 30, 2011 (the "Expiration
Date"), unless sooner terminated as provided herein and in the Plan. Subject to
the provisions of the Plan, the Option shall become exercisable as of the date
hereof as to 50,000 shares, and on a cumulative basis, as to an additional
50,000 shares on the last day of each of June, September and December 2006, and
the last day of each of March, June, September and December of 2007, and as to
the balance, that is, 350,000 shares as of January 1, 2008, provided, that as of
each of such dates the Holder is serving as a consultant to the Company.
Provided, further, however, that notwithstanding anything else contained herein,
this Option shall become immediately exercisable in full upon the death or
disability of Holder or if the employment of the Holder by the Company shall be
terminated by the Company without cause.

2. In the event that the employment or service of the Holder shall be terminated
prior to the Expiration Date (otherwise than by reason of death or disability),
the Option may, subject to the provisions of the Plan, be exercised (to the
extent that the Holder was entitled to do so at the termination of this
employment or service) at any time prior to but not after the Expiration Date.
If, however, such termination shall have been for cause or voluntarily by the
Holder and without the consent of the Company or any subsidiary corporation
thereof, as the case may be (which consent shall be presumed in the case of
normal retirement), then prior to the third anniversary of such termination, the
Holder will not, without the prior written consent of the Company, (i) sell,
offer to sell, contract to sell, hypothecate, pledge, grant any option to sell
or otherwise dispose of, or file (or participate in the filing of) a
registration statement with the Securities and Exchange Commission (the
"Commission") in respect of, or establish or increase a put equivalent position
or liquidate or decrease a call equivalent position within the meaning of

                                      -1-
<PAGE>

Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder, with respect to, any
shares of Common Stock or any securities convertible into or exercisable or
exchangeable for Common Stock, (ii) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences
of ownership of Common Stock or any securities convertible into or exercisable
or exchangeable for Common Stock, whether any such transaction is to be settled
by delivery of Common Stock, other securities, in cash or otherwise, or (iii)
publicly announce an intention to effect any transaction specified in clause (i)
or (ii). The foregoing notwithstanding, the undersigned may dispose of shares of
Common Stock which are disposed of as bona fide gifts, approved by the Company,
to transferees who enter into lock-up agreements with the Company on the same
terms and conditions as set forth herein.

      Nothing in this Agreement shall confer upon the Holder any right to
continue in the employ or service of the Company or any subsidiary of the
Company or affect the right of the Company or any subsidiary to terminate his
employment or service at any time.

3. (a) The Holder may exercise the Option with respect to all or any part of the
shares then purchasable hereunder by giving the Company written notice in the
form annexed, as provided in paragraph 7 hereof, of such exercise. Such notice
shall specify the number of shares as to which the Option is being exercised and
shall be accompanied by payment in full in cash of an amount equal to the
exercise price of such shares multiplied by the number of shares as to which the
Option is being exercised; provided that, if permitted by the Board, the
purchase price may be paid, in whole or in part, by surrender or delivery to the
Company of securities of the Company having a fair market value on the date of
the exercise equal to the portion of the purchase price being so paid. In such
event fair market value should be determined pursuant to the Plan.

      (b) Prior to or concurrently with delivery by the Company to the Holder of
a certificate(s) representing such shares, the Holder shall, upon notification
of the amount due, pay promptly any amount necessary to satisfy applicable
federal, state or local tax requirements. In the event such amount is not paid
promptly, the Company shall have the right to apply from the purchase price paid
any taxes required by law to be withheld by the Company with respect to such
payment and the number of shares to be issued by the Company will be reduced
accordingly.

4. Notwithstanding any other provision of the Plan, in the event of a change in
the outstanding Common Stock of the Company by reason of a stock dividend,
split-up, split-down, reverse split, recapitalization, merger, consolidation,
combination or exchange of shares, spin-off, reorganization, liquidation or the
like, then the aggregate number of shares and price per share subject to the
Option shall be appropriately adjusted by the Board, whose determination shall
be conclusive.

5. This Option shall, during the Holder's lifetime, be exercisable only by the
Holder, and neither this Option nor any right hereunder shall be transferable by
the Holder, by operation of law or otherwise, except by will or by the laws of
descent and distribution. In the event of any attempt by the Holder to transfer,
assign, pledge, hypothecate or otherwise dispose of this Option or of any right
hereunder, except as provided for herein, or in the event of the levy or any
attachment, execution or similar process upon the rights or interest hereby
conferred, the Company may terminate this Option by notice to the Holder and it
shall thereupon become null and void.

                                      -2-
<PAGE>

6. Neither the Holder nor in the event of the Holder's death, any person
entitled to exercise the rights of the Holder hereunder, shall have any of the
rights of a stockholder with respect to the shares subject to the Option until
share certificates have been issued and registered in the name of the Holder or
the Holder's estate, as the case may be.

7. Any notice to the Company provided for in this Agreement shall be addressed
to the Company in care of its Secretary, at 33 Newtown Lane, East Hampton, New
York 11937 and any notice to the Holder shall be addressed to the Holder at the
address now on file with the Company, or to such other address as either may
last have designated to the other by notice as provided herein. Any notice so
addressed shall be deemed to be given on the second business day after mailing,
by registered or certified mail, at a post office or branch post office within
the United States.

8. In the event that any question or controversy shall arise with respect to the
nature, scope or extent of any one or more rights conferred by this Option, the
determination by the Board, or if one had been appointed, the Committee (as
constituted at the time of such determination) of the rights of the Holder shall
be conclusive, final and binding upon the Holder and upon any other person who
shall assert any right pursuant to this Option.

                                        Newtown Lane Marketing, Incorporated

                                        By: ____________________________________
                                        Name:
                                        Title:

ACCEPTED AND AGREED

_________________________________
J. Barry Richman

                                      -3-
<PAGE>

                           FORM OF NOTICE OF EXERCISE

TO: Newtown Lane Marketing, Incorporated

      The undersigned hereby exercises options to purchase __________ shares of
Common Stock of Newtown Lane Marketing, Incorporated (the "Company") as provided
in the Stock Option Agreement dated as of __________, ___ at $__________ per
share, a total of $__________ and makes payment therefor as follows:

      (1) To the extent of $__________ of the purchase price, the undersigned
hereby surrenders to the Company certificates for shares of its Common Stock
which, valued at $__________ per share, the fair market value thereof, equals
such portion of the purchase price.

      (2) To the extent of the balance of the purchase price, the undersigned
has enclosed a check payable to the order of the Company for $__________.

      A stock certificate or certificate for the shares should be delivered in
person or mailed to the undersigned at the address shown below.

      The undersigned hereby represents and warrants that it is the
undersigned's present intention to acquire and hold the aforesaid shares of
Common Stock of the Company for his or her own account for investment, and not
with a view to the distribution of any thereof, and agrees that he or she will
make no sale, thereof, except in compliance with the applicable provisions of
the Securities Act of 1933, as amended.

                                           Signature: __________________________
                                           Address: ____________________________
                                                    ____________________________
                                                    ____________________________

Dated: __________________________

                                      -4-

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