Document:

EX-10.1

 

EXHIBIT 10.1

March 28, 2005

Mr. Jeffrey Mattern

Treasurer

NACCO Materials Handling Group, Inc.

650 Northeast Holladay Street, Suite 1600

Portland, OR 97232

	 	 	 
	RE:

	 	(i) Restated and Amended Joint
Venture and Shareholders Agreement dated April 15, 1998 as
amended from time to time (the “JV Agreement”);
	

	 	(ii) International Operating Agreement dated April 15, 1998 as amended from time to time
(the “Operating Agreement”);

	

	 	(iii) Recourse and Indemnity Agreement dated October 21, 1998 as amended from time to time
(the “R&I Agreement”)

Dear Jeff:

NACCO Materials Handling Group, Inc. (“NMHG”) and General Electric Capital Corporation (“GE
Capital”) and all of their respective affiliates and subsidiaries which may be parties to any of
the above-referenced agreements (collectively the “Agreements”) hereby agree that the “Base Term”
(as that term is described in each of the respective Agreements) shall be extended and shall now
expire on June 1, 2005 (“New Base Expiration Date”) and all of the duties and obligations of the
parties under the Agreements shall continue unmodified and in full force and effect until such
date. Accordingly, in conjunction with the extension of the Base Term to the New Base Expiration
Date, the obligations of NMHG arising under (i) the Recourse for Wholesale Accounts set forth in
Section 3.7 of the Operating Agreement; and (ii) the R& I Agreement, shall continue unmodified and
in full force and effect through the New Base Expiration Date.

By their respective signatures below, NMHG and GE Capital each hereby agree to all of the
extensions noted above.

GENERAL ELECTRIC CAPITAL CORPORATION

By:  /s/ Belle-Ann Abrams, as attorney-in-fact

Edward J. Simoneau

Vice President and General Manager – Dealer Financial Services

NACCO MATERIALS HANDLING GROUP, INC.

By:  /s/ Jeffrey C. Mattern

Jeffrey C. Mattern

TreasurerExhibit 10.1

 

Exhibit 10.1

March 28, 2005

Mr. Jeffrey Mattern

Treasurer

NACCO Materials Handling Group, Inc.

650 Northeast Holladay Street, Suite 1600

Portland, OR 97232

	RE:   	(i) Restated and Amended Joint Venture and Shareholders
Agreement dated April 15, 1998 as
amended from time to time (the “JV Agreement”);
	 
	  	(ii) International Operating Agreement dated April 15, 1998 as amended from time to time
(the “Operating Agreement”);

	 
	  	(iii) Recourse and Indemnity Agreement dated October 21, 1998 as amended from time to time
(the “R&I Agreement”)

Dear Jeff:

NACCO Materials Handling Group, Inc. (“NMHG”) and General Electric Capital Corporation (“GE
Capital”) and all of their respective affiliates and subsidiaries which may be parties to any of
the above-referenced agreements (collectively the “Agreements”) hereby agree that the “Base Term”
(as that term is described in each of the respective Agreements) shall be extended and shall now
expire on June 1, 2005 (“New Base Expiration Date”) and all of the duties and obligations of the
parties under the Agreements shall continue unmodified and in full force and effect until such
date. Accordingly, in conjunction with the extension of the Base Term to the New Base Expiration
Date, the obligations of NMHG arising under (i) the Recourse for Wholesale Accounts set forth in
Section 3.7 of the Operating Agreement; and (ii) the R& I Agreement, shall continue unmodified and
in full force and effect through the New Base Expiration Date.

By their respective signatures below, NMHG and GE Capital each hereby agree to all of the
extensions noted above.

	 	 	 
	GENERAL
ELECTRIC CAPITAL CORPORATION

	By:

	 	/s/ Belle-Ann Abrams , as attorney-in-fact
	

	 	 
	

	 	Edward J. Simoneau

Vice President and General Manager – Dealer Financial Services
	 	 
	NACCO
MATERIALS HANDLING GROUP, INC.

	 
	By:

	 	/s/ Jeffrey C. Mattern
	

	 	 
	

	 	Jeffrey C. Mattern

Treasurerexv10w1

 

EXHIBIT 10.1

March 23, 2005

Sam Cowley

2136 E Goldenrod Street

Phoenix, AZ 85044

Re: Hiring Specifications

Dear Mr. Cowley:

You have been offered the position of General Counsel with Swift Transportation, Co., Inc. We have
offered you the following compensation package:

	 	•  	$325,000.00 annual salary
	 
	 	•  	50% target bonus based on performance
	 
	 	•  	$100,000.00 sign-on bonus to be paid upon hire. In the event that your
employment is terminated, you will repay the sign-on bonus to the company as
follows:

	 	•  	If you voluntarily terminate your employment within
the first 12 months of employment, you will repay 100%
	 
	 	•  	If you voluntarily terminate your employment 13 to 24
months from your date of hire, you will repay 66%,
	 
	 	•  	If you voluntarily terminate your employment 25 to 36
months from your date of hire, you will repay 33%

	 	•  	$700.00 monthly car allowance
	 
	 	•  	100,000 stock options will be granted upon hire

	 	•  	20% will vest each year
	 
	 	•  	100% vested in 5 years

	 	•  	20,000 annual target stock options based on performance
	 
	 	•  	3 weeks of vacation
	 
	 	•  	Eighteen months of severance, based on salary, will be guaranteed if your
employment is terminated unless the reason is for gross misconduct

This offer is contingent upon Negative Substance Abuse Screening Test results for controlled
substances, job related reference checks, and a pre-employment physical (if required) taken prior
to reporting to work.

If the above terms are acceptable, please sign this form on the line indicated below and return it
to Barbara Kennedy. Your start date will be April 18, 2005.

We welcome you as new member to our Company!

Sincerely,

 

 

Jerry Moyes

Chairman & CEO

Received and acceptable:                                          Date                     

2200 S. 75th Avenue • Phoenix, AZ 85043

(602) 269-9700 (800) 800-2200exv10w2

 

EXHIBIT 10.2

February 4, 2005

Glynis Bryan

2734 Bush Street

San Francisco, CA 94115

gabryan999@aol.com

Re: Hiring Specifications

     Dear Ms. Bryan:

You have been offered the position of Chief Financial Officer with Swift Transportation, Co., Inc.
We have offered you the following compensation package:

	 	•  	$325,000.00 annual salary
	 
	 	•  	50% target bonus based on performance
	 
	 	•  	$100,000.00 sign-on bonus to be paid upon hire. In the event that your
employment is terminated, you will repay the sign-on bonus to the company as
follows:

	 	•  	If you voluntarily terminate your employment within
the first 12 months of employment, you will repay 100%
	 
	 	•  	If you voluntarily terminate your employment 13 to 24
months from your date of hire, you will repay 66%,
	 
	 	•  	If you voluntarily terminate your employment 25 to 36
months from your date of hire, you will repay 33%

	 	•  	$700.00 monthly car allowance
	 
	 	•  	100,000 stock options will be granted upon hire

	 	•  	20% will vest each year
	 
	 	•  	100% vested in 5 years

	 	•  	20,000 annual target stock options based on performance
	 
	 	•  	3 weeks of vacation
	 
	 	•  	Eighteen months of severance, based on salary, will be guaranteed if your
employment is terminated unless the reason is for gross misconduct.

2200 S. 75th Avenue • Phoenix, AZ 85043

(602) 269-9700 (800) 800-2200

 

 

This offer is contingent upon Negative Substance Abuse Screening Test results for controlled
substances, job related reference checks, and a pre-employment physical (if required) taken prior
to reporting to work.

If the above terms are acceptable, please sign this form on the line indicated below and return it
to Barbara Kennedy. Your start date will be April 18, 2005.

We welcome you as new member to our Company!

Sincerely,

 

 

Jerry Moyes

Chairman & CEO

Received and acceptable:                                          Date                     

2200 S. 75th Avenue • Phoenix, AZ 85043

(602) 269-9700 (800) 800-2200Exhibit 10.1

                            STOCK PURCHASE AGREEMENT

         STOCK   PURCHASE   AGREEMENT,   dated  as  of  March  15,   2005  (this
"Agreement"),   by  and  among  RICHARD  ARMSTRONG  ("Seller");  HALTER  CAPITAL
CORPORATION,  a Texas corporation  ("Purchaser");  and STRONG TECHNICAL,  INC. a
Delaware corporation ("Company").

                               W I T N E S S E T H

         WHEREAS,  Seller desires to sell to Purchaser  14,635,000 shares of the
Company's  common stock,  par value $0.001 (the "Common  Stock") (the "Shares"),
representing  82.6% of the Company's issued and outstanding shares of the Common
Stock of the  Company,  on the terms  and  conditions  set  forth in this  Stock
Purchase Agreement ("Agreement"), and

         WHEREAS,  Purchaser  desires  to  buy  the  Shares  on  the  terms  and
conditions set forth herein, and

         WHEREAS the Company  joins in the  execution of this  Agreement for the
purpose  of  evidencing  its  consent  to  the  consummation  of  the  foregoing
transactions  and  for  the  purpose  of  making  certain   representations  and
warranties to and covenants and agreements with the Purchaser.

         NOW THEREFORE,  in consideration of the promises and respective  mutual
agreements herein  contained,  it is agreed by and between the parties hereto as
follows.

                                    ARTICLE 1
                         SALE AND PURCHASE OF THE SHARES

         1.1 Sale of the Shares.  Subject to the terms and conditions herein set
forth,  on the basis of the  representations,  warranties and agreements  herein
contained,  at the Closing Seller agrees to sell,  assign,  transfer and deliver
the Shares to Purchaser,  and  Purchaser  agrees to purchase the Shares from the
Seller.

         1.2 The  Closing.  The  purchase of the Shares  shall take place at the
office of the  Purchaser in Frisco,  Texas or such other place as Purchaser  and
Seller may mutually agree on or before April 1, 2005,  herein referred to as the
"Closing Date".

         1.3  Instruments  of Conveyance  and Transfer.  At the Closing,  Seller
shall deliver certificates representing the Shares to Purchaser duly endorsed by
the Seller to the  Purchaser,  in form and substance  satisfactory  to Purchaser
("Certificates"),  as shall be effective to vest in Purchaser  all right,  title
and interest in and to all of the Shares. See Article 8 below.

<PAGE>

         1.4  Consideration and Payment for the Shares. In consideration for the
Shares,  Purchaser shall pay to the Seller a total purchase price of $273,500.00
(the "Purchase Price").

         1.5  Conditions  to Closing.  Purchaser's  obligation to close shall be
conditional  upon the  completion to Purchaser's  satisfaction  of the following
matters:

         (a)  Completion  to  Purchaser's  satisfaction  of  its  due  diligence
examination of the books, records and properties of the Company;

         (b) Execution and delivery by Seller and seven additional  stockholders
of stock  purchase  agreements  pursuant  to which  they will  deliver  and sell
2,995,000  shares of common  stock  that are  registered  for  resale  under the
Company's  Form  SB-2  registration  statement,  SEC  File No.  333-112111  (the
"Registration Statement");

         (c) The Company being in good standing and existence under Delaware law
with all franchise taxes current;

         (d) Listing of the Company with  Mergent's  OTC  Industrial  Manual and
News Reports.  In connection with such listing,  Purchaser has agreed to advance
the filing  fees,  the  amount of which (i) shall be  credited  to the  Purchase
Price,  or, (ii) shall be  repayable  on demand by  Purchaser  in the event this
Agreement shall fail to close for any reason; and

         (e) Seller shall have filed an amendment to the Registration  Statement
in the form of a Rule  424(b)  prospectus  to  update  the  financial  and other
information set forth in the Registration Statement.

                                    ARTICLE 2
                  REPRESENTATIONS AND WARRANTIES OF THE SELLER

         The Seller  represents,  warrants and undertakes to the Purchaser that,
except as set forth in the Disclosure Schedule:

         2.1  Transfer of Title.  Seller  shall  transfer  all right,  title and
interest  in and to the  Shares to the  Purchaser  free and clear of all  liens,
security interests, pledges, encumbrances,  charges,  restrictions,  demands and
claims,  of any  kind or  nature  whatsoever,  whether  direct  or  indirect  or
contingent.

         (a) Due Execution.  This Agreement has been duly executed and delivered
by the Seller.

         (b) Valid Agreement. This Agreement constitutes, and upon execution and
delivery thereof by the Seller,  will constitute,  a valid and binding agreement
of the Seller enforceable against the Seller in accordance with its terms.

         (c)  Authorization.  The  execution,  delivery and  performance  by the
Seller of this  Agreement and the delivery by the Seller of the Shares have been
duly  and  validly  authorized  by  the  Company,  and  no  further  consent  or
authorization  of the  Seller,  the  Company,  its  Board of  Directors,  or its
stockholders is required.

<PAGE>

         (d) Seller's  Title to Shares;  No Liens or  Preemptive  Rights;  Valid
Issuance.  Seller  has and at the  Closing  will have  good and valid  title and
control of the Shares;  there will be no existing  impediment or  encumbrance to
the sale and  transfer of such Shares to the  Purchaser;  and on delivery to the
Purchaser  of the  Shares,  good and valid  title to all the Shares will pass to
Purchaser  and all of the  Shares  will be free and clear of all  taxes,  liens,
security interests, pledges, rights of first refusal or other preference rights,
encumbrances,  charges,  restrictions  (other  than  resale  restrictions  under
federal and state securities laws),  demands,  claims or assessments of any kind
or any nature whatsoever whether direct, indirect or contingent and shall not be
subject to preemptive rights,  tag-along rights, or similar rights of any of the
stockholders of the Company.  The Shares have been legally and validly issued in
compliance with all applicable U.S.  federal and state  securities laws, and are
fully paid and  non-assessable  shares of the Company's  Common  Stock;  and the
Shares have all been issued under duly  authorized  resolutions  of the Board of
Directors of the Company. At the Closing,  Seller shall deliver to the Purchaser
Certificates  representing  the  Shares  free and clear of all  liens,  security
interests, pledges, encumbrances,  charges,  restrictions,  demands or claims in
any  other  party  whatsoever  with  appropriate  stock  powers  with  medallion
guarantees.

         2.2 No Governmental Action Required.  The execution and delivery by the
Seller of this  Agreement  does not and will not,  and the  consummation  of the
transactions  contemplated  hereby will not, require any action by or in respect
of, or filing with, any governmental body, agency or governmental official.

         2.3  Compliance  with  Applicable  Law  and  Corporate  Documents.  The
execution and delivery by the Seller and the Company of this  Agreement does not
and will not, and the sale by the Seller of the Shares and the  consummation  of
the other  transactions  contemplated  by this  Agreement  does not and will not
contravene  or  constitute a default  under or violation of (i) any provision of
applicable law or regulation,  (ii) the articles of  incorporation or by-laws of
the Company or (iii) any agreement, judgment, injunction, order, decree or other
instrument  binding upon the Seller or any of his or the  Company's  assets,  or
result in the creation or imposition of any lien on any asset of the Seller.

         2.4 Not a Voting Trust:  No Proxies.  None of the Shares are or will be
subject to any voting  trust or  agreement.  No person holds or has the right to
receive any proxy or similar  instrument  with respect to the Shares.  Except as
provided in this  Agreement,  the Seller is not a party to any  agreement  which
offers or grants to any  person  the right to  purchase  or  acquire  any of the
Shares. There is no applicable local, state or federal law, rule, regulation, or
decree  which would,  as a result of the sale  contemplated  by this  Agreement,
impair, restrict or delay any voting rights with respect to the Shares.

         2.5 Survival of  Representations.  The  representations  and warranties
herein by the Seller will be true and correct in all material respects on and as
of  the   Closing   Date  with  the  same  force  and  effect  as  though   said
representations  and  warranties had been made on and as of the Closing Date and
will survive the Closing Date as provided in Section 7.1(c). .

         2.6  Adoption  of  Company's  Representations.  The  Seller  adopts and
remakes as his own each and every representation,  warranty and undertaking made
by the  Company  in  Article 3 below as if they had made  such  representations,
warranties and undertakings to the Purchaser directly.

<PAGE>

         2.7 Brokers. No broker,  finder or investment banker is entitled to any
brokerage,  finder's or other fee or commission  payable by the Purchaser or the
Company in connection with the transactions contemplated by this Agreement.

                                    ARTICLE 3
           REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE COMPANY

         The Company represents,  warrants and undertakes to the Purchaser that,
except as set forth on the Disclosure Schedule:

         3.1 Due  Organization.  The Company is a  corporation  duly  organized,
validly  existing and in good  standing  under the laws of the State of Delaware
(a) with full power and authority to own, lease, use, and operate its properties
and to carry on its business as and where now owned,  leased, used, operated and
conducted.  The Company has no  subsidiaries.  The Company is not  qualified  to
conduct business in any jurisdiction other than the States of Delaware and South
Carolina, and (b) all actions taken by the current directors and stockholders of
the  Company  have been  valid and in  accordance  with the laws of the State of
Delaware and all actions  taken by the Company have been duly  authorized by the
current directors and stockholders of the Company as appropriate.

         3.2 (a) Company  Authority.  The Company  has all  requisite  corporate
power and  authority to enter into and perform this  Agreement and to consummate
the transactions contemplated herein.

         (b) Due Authorization.  The execution,  delivery and performance by the
Company of this  Agreement has been duly and validly  authorized  and no further
consent  or  authorization  of  the  Company,  its  Board  of  Directors  or its
stockholders  is  required.  The  Seller is not  disqualified  from  acting as a
director with respect to the transactions  contemplated  hereby by reason of his
interest in the transactions.

         (c)  Valid  Execution.  This  Agreement  has  been  duly  executed  and
delivered by the Company.

         (d) Binding Agreement.  This Agreement constitutes,  and upon execution
and  delivery  thereof by the  Company,  will  constitute,  a valid and  binding
agreement of the Company, enforceable against the Company in accordance with its
terms, except as may be limited by applicable bankruptcy,  insolvency or similar
laws affecting  creditor's  rights  generally or the  availability  of equitable
remedies.

         (e) No Violation of Corporate  Documents or  Agreements.  The execution
and delivery of this Agreement by the Company and the performance by the parties
hereto of its obligations hereunder will not cause, constitute, or conflict with
or  result  in (i)  any  breach  or  violation,  or  give  rise  to a  right  of
termination,  cancellation  or  acceleration  of any  obligation or to loss of a
material benefit under, or to increased,  additional,  accelerated or guaranteed
rights  or  entitlements  of any  person  under  any of the  provisions  of,  or
constitute  a  default  under,  any  license,   indenture,   mortgage,  charter,

<PAGE>

instrument,  certificate of incorporation,  bylaw,  judgment,  order,  decision,
writ,  injunction,  or decree or other  agreement or instrument or proceeding to
which the  Company  or its  stockholders  are a party,  or by which  they may be
bound,  nor will any  consents or  authorizations  of any party other than those
hereto by  required,  (ii) an event that would cause the Company to be liable to
any party,  or (iii) an event that would result in the creation or imposition or
any lien, charge or encumbrance on any asset of the Company or on the securities
of the Company to be acquired by the Purchaser.

         3.3 Authorized Capital, No Preemptive Rights, No Liens;  Anti-Dilution.
As of the date  hereof,  the  authorized  capital of the Company is  100,000,000
shares of Common Stock,  par value $0.001 per share,  and  10,000,000  shares of
Preferred Stock, par value $0.001.  The issued and outstanding  capital stock of
the  Company is  17,765,650  shares of Common  Stock and no shares of  Preferred
Stock. All of the shares of capital stock are duly  authorized,  validly issued,
fully paid and  non-assessable.  No shares of capital  stock of the  Company are
subject  to  preemptive  rights or  similar  rights of the  stockholders  of the
Company or any liens or  encumbrances  imposed through the actions or failure to
act of the  Company,  or  otherwise.  As of the date  hereof  (i)  there  are no
outstanding  options,  warrants,   convertible  securities,   scrip,  rights  to
subscribe for, puts, calls, rights of first refusal,  tag-along agreements,  nor
any other agreements,  understandings,  claims or other commitments or rights of
any character  whatsoever  relating to, or securities or rights convertible into
or exchangeable for any shares of capital stock of the Company,  or arrangements
by which  the  Company  is or may  become  bound to issue  additional  shares of
capital stock of the Company,  and (ii) there are no agreements or  arrangements
under  which  the  Company  is  obligated  to  register  the  sale of any of its
securities   under  the   Securities  Act  of  1933,  and  (iii)  there  are  no
anti-dilution or price adjustment provisions contained in any security issued by
the Company (or in the Company's  certificate of  incorporation  or bylaws or in
any agreement  providing  rights to security  holders) that will be triggered by
the  transactions  contemplated by this Agreement.  The Company has furnished to
Purchaser true and correct copies of the Company's  certificate of incorporation
and bylaws.

         3.4 No Governmental Action Required.  The execution and delivery by the
Company of this  Agreement  does not and will not, and the  consummation  of the
transactions  contemplated  hereby will not, require any action by or in respect
of, or filing with, any governmental body, agency or governmental official.

         3.5  Compliance  with  Applicable  Law  and  Corporate  Documents.  The
execution and delivery by the Company of this  Agreement and the  performance by
the parties hereto of the transactions contemplated hereby does not and will not
contravene  or  constitute a default  under or violation of (i) any provision of
applicable law or regulation, (ii) the Company's certificate of incorporation or
bylaws, or (iii) any agreement,  judgment,  injunction,  order,  decree or other
instrument binding upon the Company or any its assets, or result in the creation
or  imposition  of any  lien on any  asset  of the  Company.  To the best of its
knowledge, the Company is in compliance with and conforms to all statutes, laws,
ordinances,  rules,  regulations,  orders,  restrictions  and  all  other  legal
requirements  of any  domestic  or  foreign  government  or any  instrumentality
thereof having  jurisdiction over the conduct of its businesses or the ownership
of its properties.

<PAGE>

         3.6 Financial Statements.  (a) The Purchaser has received a copy of the
audited  financial  statements of the Company for the fiscal year ended June 30,
2004 and the six months ended December 31, 2004  ("Financial  Statements").  The
Financial  Statements  fairly present the financial  condition of the Company at
the dates  indicated and its results of their  operations and cash flows for the
periods then ended and, except as indicated therein, reflect all claims against,
debts and  liabilities  of the  Company,  fixed or  contingent,  and of whatever
nature.  (b) Since December 31, 2004 (the "Balance Sheet Date"),  there has been
no material  adverse change in the assets or liabilities,  or in the business or
condition, financial or otherwise, or in the results of operations or prospects,
of the Company,  whether as a result of any  legislative  or regulatory  change,
revocation of any license or rights to do business,  fire, explosion,  accident,
casualty, labor trouble, flood, drought, riot, storm, condemnation,  act of God,
public  force or  otherwise  and no  material  adverse  change in the  assets or
liabilities, or in the business or condition,  financial or otherwise, or in the
results of operation or prospects,  of the Company except in the ordinary course
of business.  (c) Since the Balance Sheet Date, the Company has not suffered any
damage,  destruction  or loss of  physical  property  (whether or not covered by
insurance)  affecting  its  condition  (financial  or  otherwise)  or operations
(present or prospective), nor has the Company issued, sold or otherwise disposed
of, or agreed to issue,  sell or otherwise  dispose of, any capital stock or any
other security of the Company and has not granted or agreed to grant any option,
warrant or other right to subscribe  for or to purchase any capital stock or any
other  security  of  the  Company  or  has  incurred  or  agreed  to  incur  any
indebtedness for borrowed money.  (d) The Financial  Statements are contained in
the  Company's  filings  and  reports  made  with the  Securities  and  Exchange
Commission  ("SEC") since the Company's  formation (the "SEC Reports").  The SEC
Reports are (i) accurate and complete,  (ii) contain all information required to
be filed under the rules and  regulations  of the SEC,  (iii) are not subject to
any outstanding  SEC comment  letters or inquiries,  and (iv) do not contain any
false  statement  of fact or fail to state ant fact  necessary to make the facts
stated therein not misleading.

         3.7 No  Litigation.  The  Company  is not a party to any suit,  action,
arbitration,  or legal,  administrative,  or other  proceeding,  or  pending  or
threatened  governmental  investigation.  The  Company  is not  subject to or in
default with respect to any order, writ,  injunction,  or decree of any federal,
state, local, or foreign court, department, agency, or instrumentality.

         3.8 No Taxes.  The Company is not,  and will not become with respect to
any  periods  ending on or prior to the  Closing  Date,  liable for any  income,
sales, withholding,  franchise, excise, license, real or personal property taxes
(a "Tax") to any foreign,  United States  federal,  state or local  governmental
agencies  whatsoever.  All United States federal,  state,  county,  municipality
local  or  foreign  income  Tax  returns  and all  other  material  Tax  returns
(including  information returns) that are required, or have been required, to be
filed  by or on  behalf  of the  Company  have  been or will be  filed as of the
Closing  Date and all Taxes due  pursuant  to such  returns or  pursuant  to any
assessment  received by the Company  have been or will be paid as of the Closing
Date. The charges,  accruals and reserves on the books of the Company in respect
of taxes or other governmental  charges have been established in accordance with
the tax method of  accounting.  All returns that have been filed relating to Tax
are  true and  accurate  in all  material  respects.  No  audit,  action,  suit,
proceeding or other  examination  regarding taxes for which the Company may have
any  liability is currently  pending  against or with respect to the Company and
neither Seller nor the Company has received any notice  (formally or informally)
of any audit,  suit,  proceeding or other  examination.  No material  adjustment

<PAGE>

relating to any Tax returns,  no closing or similar  agreement have been entered
into or  issued  or have  been  proposed  (formally  or  informally)  by any tax
authority  (insofar as such action  relate to  activities  or income of or could
result in liability of the Company for any Tax) and no basis exists for any such
actions.  The  Company  has not  changed  any  election,  adopted or changed any
accounting  method or period,  filed any amended return for any Tax, settled any
claim or assessment of any Tax, or surrendered  any right to claim any refund of
any Tax, or consented to any  extension or waiver of the statute of  limitations
for any Tax.  The  Company  has not had an  "ownership  change"  as that term is
defined in Section 382 of the Internal  Revenue Code of 1986,  as amended and in
effect.

         3.9 Conduct of the Business. From and after December 31, 2004 until the
Closing Date:

                  (a) The Company has  continued to be operated in the usual and
         ordinary  manner in which its business  has been  conducted in the past
         and during such period.  The Company has not made any  expenditures  or
         entered into any commitments which, when compared to past operations of
         its business,  are unusual or extraordinary or outside the scope of the
         normal course of routine operations;

                  (b) The  Company  has kept in a normal  state  of  repair  and
         operating  efficiency  all  tangible  personal  property  used  in  the
         operation of its business;

                  (c) The Company has used its best efforts to maintain the good
         will   associated  with  its  business,   and  the  existing   business
         relationships  with its  agents,  customers,  lessors,  key  employees,
         suppliers and other persons having relations with it;

                  (d) The Company has not entered into any  contract,  agreement
         or action,  or relinquished or released any rights or privileges  under
         any contracts or agreements, the performance, violation, relinquishment
         or  release  of which  could,  on the date on which  such  contract  or
         agreement  was  entered  into,  or  such  rights  or  privileges   were
         relinquished  or released,  be  reasonably  foreseen to have a material
         adverse effect;

                  (e)  The  Company  has  not  made,  or  agreed  to  make,  any
         acquisition  of stock or assets of, or made loans to, any person not in
         the ordinary course of business;

                  (f) The  Company  has not sold or  disposed  of any  assets or
         created or permitted to exist any  encumbrance on its assets except (x)
         in the ordinary  course of business and which could not, on the date of
         such sale, disposition,  creation or permission, be reasonably foreseen
         to have a material adverse effect or (y) as otherwise permitted by this
         Agreement;

                  (g) The Company has kept true,  complete and correct  books of
         records and accounts  with respect to its  business,  in which  entries
         will be made  of all  transactions  on a  basis  consistent  with  past
         practices  and  in  accordance   with  the  tax  method  of  accounting
         consistently applied by the Company;

                  (h) The Company has paid current  liabilities as and when they
         became due and has paid or  incurred  no fees and  expenses  not in the
         ordinary course of its business;

<PAGE>

                  (i) There has been no declaration, setting aside or payment of
         any  dividend  or other  distribution  in  respect of any Shares or any
         other securities of the Company (whether in cash or in kind);

                  (j) The Company has not  redeemed,  repurchased,  or otherwise
         acquired any of its securities or entered into any agreement to do so;

                  (k) The Company has not made any loan to, or entered  into any
         other transaction with, any of its directors, officers, and employees;

                  (l) The Company has not made or pledged to make any charitable
         or other capital  contribution outside the ordinary course of business;
         and

                  (m) There has not been any other occurrence,  event, incident,
         action,  failure to act or transaction  outside the ordinary  course of
         business that would have a material adverse effect.

         3.10 Liabilities.

                  (a) Except as set forth in the  Financial  Statements  and the
         SEC Reports, the Company has no liabilities or obligations.

                  (b)  Except as set  forth in the  Disclosure  Schedule,  since
         December 31, 2004, the Company has not:

                           (i) subjected to  encumbrance,  or agreed to do so to
                  any of its assets,  tangible or intangible other than purchase
                  money liens in the  ordinary  course of business on  equipment
                  used in the  conduct of business  and  incurred to finance the
                  purchase  price of the  equipment  involved  and  which do not
                  cover any other asset of the Company;

                           (ii) except as otherwise contemplated hereby, engaged
                  in any  transactions  affecting its business or properties not
                  in the  ordinary  course  of  business  consistent  with  past
                  practice or suffered  any  extraordinary  losses or waived any
                  rights of substantial  value except in the ordinary  course of
                  business; or

                           (iii) other than in the  ordinary  course of business
                  consistent with past practice,  granted or agreed to grant, or
                  paid or  agreed  to pay any  increase  in the  rate of  wages,
                  salaries,  bonuses  or  other  remuneration  of  any  officer,
                  director or consultant of the Company or any increase of 5% or
                  more  in  the  rate  of  wages,  salaries,  bonuses  or  other
                  remuneration of any non-officer/director or employee or become
                  a party to any employment  contract or arrangement with any of
                  its directors,  officers, consultants or employees or become a
                  party  to any  contract  or  arrangement  with  any  director,
                  officer,  consultant or employee providing for bonuses, profit
                  sharing payments,  severance pay or retirement benefits, other
                  than as set forth in any Exhibit or Schedule hereto.

<PAGE>

         3.11 ERISA Compliance. The Company maintains no "employee benefit plan"
within the meaning of Section 3(3) of the Employee  Retirement  Income  Security
Act of 1974  ("ERISA"),  under which the Company or any ERISA  Affiliate has any
current or future  obligation  or  liability  or under which any employee of the
Company or any ERISA Affiliate has any current or future right to benefits.

         3.12  Insurance.  The Disclosure  Schedule  includes a true and correct
list of all policies or binders of insurance of the Company in force, specifying
the insurer, policy number (or covering note number with respect to binders) and
amount thereof and describing each pending claim  thereunder.  Such policies are
in full force and  effect.  The  Company is not in default  with  respect to any
provisions contained in any such policy or binder, nor has it failed to give any
notice or present  any claim  under any such  policy or binder in due and timely
fashion. There are no outstanding unpaid claims under any such policy or binder,
or claims for  worker's  compensation.  The Company has not  received  notice of
cancellation or non-renewal of any such policy or binder.  The Company has never
been,  and is not now, the subject of any claim  relating to damage or injury in
excess of the Company's  then-current  product  liability policy limits or which
has been disclaimed by the Company's  insurer.  Such insurance will lapse on the
Closing Date.

         3.13 Compliance with Law. To the best of its knowledge, the Company has
complied  with,  and is not in violation of any provision of laws or regulations
of federal,  state or local government  authorities and agencies,  including any
environmental  laws  and  regulations.   There  are  no  pending  or  threatened
proceedings  against the Company by any federal,  state or local government,  or
any department, board, agency or other body thereof.

         3.14 Consents.  The Disclosure Schedule lists all consents ("Consents")
of third parties required to be obtained as a result of the change of control of
the Company hereby.

         3.15 Agreements.  Except as set forth in the Disclosure  Schedule,  the
Company is not a party to any material agreement, loan, credit, lease, sublease,
franchise,  license,  contract,  commitment  or  instrument  or  subject  to any
corporate  restriction.  The Disclosure Schedule identifies every loan or credit
agreement,  and every fully or partially  executory  agreement or purchase order
pursuant to which the Company is obligated to deliver goods or perform services,
pay for goods, services or other property, or repay any loan, including, without
limitation,   any  agreement  with  present  or  former   officers,   directors,
consultants,  agents, brokers, vendors,  customers and/or dealers of any nature.
True,  correct and complete copies of all such agreements have been delivered to
Purchaser.  Neither the Company nor any other party is in default under any such
agreement,  loan,  credit,  lease,  sublease,   franchise,   license,  contract,
commitment,  instrument or restriction.  No such instrument requires the consent
of any other  party  thereto  in order to  consummate  the  sales of the  Shares
hereby.

                                    ARTICLE 4
                   REPRESENTATIONS AND WARRANTIES OF PURCHASER

         Unless specifically stated otherwise, Purchaser represents and warrants
that the  following  are true and correct as of the date hereof and will be true
and correct through the Closing Date as if made on that date:

<PAGE>

         4.1  Agreement's  Validity.  This  Agreement has been duly executed and
delivered by Purchaser and constitutes a legal,  valid and binding obligation of
Purchaser, enforceable against Purchaser in accordance with its terms, except as
may be limited by applicable  bankruptcy,  insolvency or similar laws  affecting
creditors' rights generally or the availability of equitable remedies.

         4.2  Investment  Intent.  Purchaser is acquiring the Shares for its own
account for investment and not with a view to, or for sale or other  disposition
in connection with, any distribution of all or any part thereof.

         4.3 Restricted  Securities.  Purchaser understands that the Shares have
not been  registered  pursuant to the  Securities  Act or any  applicable  state
securities   laws,  that  the  Shares  will  be   characterized  as  "restricted
securities"  under  federal  securities  laws,  and  that  under  such  laws and
applicable  regulations  the  Shares  cannot be sold or  otherwise  disposed  of
without registration under the Securities Act or an exemption therefrom.

         4.4  Legend.  It  is  agreed  and  understood  by  Purchaser  that  the
Certificates  representing the Shares shall each  conspicuously set forth on the
face or back thereof a legend in substantially the following form:

         THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
         ACT OF 1933. THEY MAY NOT BE SOLD,  OFFERED FOR SALE,  PLEDGED
         OR  HYPOTHECATED  IN THE ABSENCE OF AN EFFECTIVE  REGISTRATION
         STATEMENT AS TO THE  SECURITIES  UNDER SAID ACT OR PURSUANT TO
         AN  EXEMPTION  FROM  REGISTRATION  OR AN  OPINION  OF  COUNSEL
         SATISFACTORY  TO THE  COMPANY  THAT SUCH  REGISTRATION  IS NOT
         REQUIRED.

         4.5 Disclosure of Information.  Purchaser acknowledges that it has been
furnished  with  information  regarding  the Company and its  business,  assets,
results of  operations,  and financial  condition to allow  Purchaser to make an
informed decision  regarding an investment in the Shares.  Purchaser  represents
that it has had an opportunity to ask questions of and receive  answers from the
Company  regarding the Company and its business,  assets,  results of operation,
and financial condition.

                                    ARTICLE 5
                            COVENANTS OF THE PARTIES

         5.1 General.  In case at any time after the Closing any further  action
is necessary or desirable to carry out the purposes of this  Agreement,  each of
the Parties will take such further action  (including the execution and delivery
of such further  instruments and documents) as any other Party may request,  all
at the sole cost and expense of the  requesting  Party  (unless  the  requesting
Party is  entitled  to  indemnification  therefor  under  Article 7 below).  The
Purchaser has had the  opportunity to review and inspect all  documents,  books,
records  (including  Tax records),  properties,  agreements,  field  operations,
environmental records and compliance, and financial data of any sort relating to
the  Company,  and to discuss  the Company  with its  employees,  customers  and
vendors.

<PAGE>

         5.2 Notices and Consents.  The Seller will,  and will cause the Company
to, give any notices to third parties, and the Seller will use its best efforts,
and will cause the Company to use its best  efforts,  to obtain any  third-party
Consents  that the  Purchaser  may  request.  Each of the Parties  will (and the
Seller will cause the  Company  to) give any notices to, make any filings  with,
and use its best efforts to obtain any required  authorizations,  Consents,  and
approvals of governmental bodies.

         5.3  Transition.  Seller  will not take any action  that is designed or
intended  to have the effect of  discouraging  any lessor,  licensor,  customer,
supplier,  or other business  associate of the Company from maintaining the same
business  relationships with the Company after the Closing as it maintained with
the Company prior to the Closing.  The Seller will refer all customer  inquiries
relating  to the  business of the  Company to the  Purchaser  from and after the
Closing.

         5.4   Distribution.   The  Company   shall   transfer  and  assign  all
intellectual  property  rights,  customer lists,  provider lists and agreements,
business methods and goodwill associated with the technical staffing business of
the  Company,  as  listed  in the  Disclosure  Schedule,  to the  Seller  or his
designee,  in  exchange  for a the  forgiveness  by  Seller of any  existing  or
potential  obligation  of the Company to the Seller or any  affiliate  or family
member of Seller,  including  any loans to the  Company  and  accrued and unpaid
salary to Seller or any affiliate or family member of Seller.

                             ARTICLE 6 - THE CLOSING

         6.1 Time of Closing. The Closing of the transactions hereby shall occur
as  expeditiously  as  possible  after the  satisfaction  of all  conditions  to
Closing, but in any event on or before April 1, 2005.

         6.2  Deliveries.  The  Closing  shall  occur  as  a  single  integrated
transaction, as follows.

         (a)      Delivery by Seller. Seller shall deliver to Purchaser:

                  (i)      The Shares;

                  (ii)     copies of  resolutions  by the Board of  Directors of
                           the Company approving the terms of this Agreement and
                           the execution of the Agreement by the Company;

                  (iii)    copies of all books,  records and documents  relating
                           to the Company,  including the corporate  records and
                           stock records of the Company;

                  (iv)     any   other   such    instruments,    documents   and
                           certificates  as  are  required  to be  delivered  by
                           Seller  or  its   representatives   pursuant  to  the
                           provisions of this Agreement;

<PAGE>

                  (v)      the Consents;

                  (vi)     the Disclosure Schedule; and

                  (vii)    evidence of the  satisfaction  of all  conditions set
                           forth in Section 1.5.

         (b)      Delivery by Purchaser. Purchaser shall deliver to Seller:

                  (i)      The balance of the Purchase Price in U.S. currency by
                           wire transfer to a bank account designated in writing
                           by the Seller or by delivery of a certified check;

                  (ii)     copies of  resolutions  of the Board of  Directors of
                           Purchaser  approving  the terms of the  Agreement and
                           the execution of this Agreement by the Purchaser; and

                  (iii)    Instruments  of  conveyance   covering  the  excluded
                           assets.

         (c)      Post-Closing Actions

                  (i)      Immediately  upon  the  Closing  Date,  the  Board of
                           Directors of the Company shall resolve to appoint Pam
                           J. Halter and Kevin  Halter,  Jr. as directors of the
                           Company with immediate effect.

                  (ii)     Following  the  appointment  of such  persons  to the
                           Board of Directors of the Company, the Seller and all
                           others shall  resign from the Board of Directors  and
                           as officers.

                                    ARTICLE 7
                                 INDEMNIFICATION

         7.1  Purchaser  Claims.  (a) Seller shall  indemnify  and hold harmless
Purchaser, its successors and assigns, against, and in respect of:

                  (i) Any and  all  damages,  losses,  liabilities,  costs,  and
         expenses incurred or suffered by Purchaser that result from, relate to,
         or arise out of:

                           (A) Any  failure by Seller to carry out any  covenant
                  or agreement contained in this Agreement;

                           (B)  Any  material  misrepresentation  or  breach  of
                  warranty by Seller contained in this Agreement, the Disclosure
                  Schedule, or any certificate, furnished to Purchaser by Seller
                  pursuant hereto; or

                           (C) Any  claim by any  Person  for any  brokerage  or
                  finder's  fee or  commission  in respect  of the  transactions
                  contemplated   hereby  as  a  result  of   Seller'   dealings,
                  agreement, or arrangement with such Person.

<PAGE>

                  (ii)  Any  and  all  actions,   suits,  claims,   proceedings,
         investigations,  demands, assessments, audits, fines, judgments, costs,
         and other expenses  (including,  without  limitation,  reasonable legal
         fees and expenses) incident to any of the foregoing  including all such
         expenses  reasonably  incurred in mitigating  any damages  resulting to
         Purchaser from any matter set forth in subsection (i) above.

                  (b) The amount of any  liability  of Seller under this Section
         7.1 shall be  computed  net of any tax  benefit to  Purchaser  from the
         matter giving rise to the claim for  indemnification  hereunder and net
         of any  insurance  proceeds  received by Purchaser  with respect to the
         matter out of which such liability arose.

                  (c) The  representations and warranties of Seller contained in
         this Agreement,  the Disclosure Schedule,  or any certificate delivered
         by or on behalf of Seller  pursuant to this  Agreement or in connection
         with  the   transactions   contemplated   herein   shall   survive  the
         consummation of the transactions contemplated herein and shall continue
         in full  force and  effect  for a period  until the  expiration  of any
         applicable statutes of limitation provided by law ("Survival  Period").
         Anything to the contrary notwithstanding,  the Survival period shall be
         extended  automatically to include any time period necessary to resolve
         a written claim for indemnification which was made in reasonable detail
         before  expiration of the Survival Period but not resolved prior to its
         expiration, and any such extension shall apply only as to the claims so
         asserted and not so resolved within the Survival Period.  Liability for
         any such item shall  continue  until such claim shall have been finally
         settled, decided, or adjudicated.

                  (d) Purchaser  shall provide  written  notice to Seller of any
         claim for  indemnification  under this Article as soon as  practicable;
         provided,  however,  that  failure to provide  such  notice on a timely
         basis shall not bar Purchaser's ability to assert any such claim except
         to the extent that Seller are  actually  prejudiced  thereby,  provided
         that such notice is received by Seller during the  applicable  Survival
         Period.   Purchaser  shall  make  commercially  reasonable  efforts  to
         mitigate any damages,  expenses,  etc. resulting from any matter giving
         rise to liability of Seller under this Article.

         7.2  Defense  of  Third-Party  Claims.  With  respect  to any  claim by
Purchaser  under  Section  7.1,  relating  to a third  party  claim  or  demand,
Purchaser shall provide Seller with prompt written notice thereof and Seller may
defend,  in good faith and at its  expense,  by legal  counsel  chosen by it and
reasonably  acceptable to Purchaser any such claim or demand, and Purchaser,  at
its  expense,  shall have the right to  participate  in the  defense of any such
third party claim.  So long as Seller are defending in good faith any such third
party claim, Purchaser shall not settle or compromise such third party claim. In
any event  Purchaser  shall  cooperate in the  settlement or  compromise  of, or
defense against, any such asserted claim.

         7.3 Seller Claims.  Purchaser  shall indemnify and hold harmless Seller
against, and in respect of, any and all damages,  claims,  losses,  liabilities,
and  expenses,  including  without  limitation,   legal,  accounting  and  other
expenses,  which may arise  out of:  (a) any  material  breach or  violation  by
Purchaser  of any  covenant  set forth  herein or any  failure  to  fulfill  any
obligation  set forth herein,  including,  but not limited to, the obligation to
satisfy  the  Assumed  Liabilities;  (b)  any  material  breach  of  any  of the

<PAGE>

representations  or warranties  made in this Agreement by Purchaser;  or (c) any
claim by any Person for any  brokerage or finder's fee or  commission in respect
of the  transactions  contemplated  hereby as a result of Purchaser's  dealings,
agreement, or arrangement with such Person.

                                    ARTICLE 8
                                  MISCELLANEOUS

         8.1 Entire  Agreement.  This Agreement sets forth the entire  agreement
and  understanding  of the  parties  hereto  with  respect  to the  transactions
contemplated  hereby,  and supersedes  all prior  agreements,  arrangements  and
understanding  related to the subject matter hereof. No understanding,  promise,
inducement,  statement  of  intention,  representation,  warranty,  covenant  or
condition, written or oral, express or implied, whether by statute or otherwise,
has been made by any party hereto which is not embodied in this Agreement or the
written statement, certificates, or other documents delivered pursuant hereto or
in connection with the  transactions  contemplated  hereby,  and no party hereto
shall be bound by or liable for any alleged understanding,  promise, inducement,
statement, representation, warranty, covenant or condition not set forth.

         8.2 Notices. Any notice or communications  hereunder must be in writing
and given by depositing same in the United States mail addressed to the party to
be  notified,  postage  prepaid and  registered  or  certified  mail with return
receipt requested or by delivering same in person.  Such notices shall be deemed
to have been received on the date on which it is hand  delivered or on the third
business  day  following  the date on which it is to be mailed.  For  purpose of
giving notice, the addresses of the parties shall be:

                  If to Seller:
                  -------------
                                    Richard Armstrong
                                    303 Church Street
                                    Rock Hill, South Carolina 29730
                                    Fax: __________________

                  If to Purchaser or Company to:
                  ------------------------------

                                    Halter Capital Corporation
                                    2591 Dallas Parkway, Suite 102
                                    Frisco, Texas 75034
                                    Fax: (469) 633-0099

         8.3 Governing  Law. This  Agreement  shall be governed in all respects,
including validity, construction,  interpretation and effect, by the laws of the
State of Texas (without regard to principles of conflicts of law).

         8.4  Consent to  Jurisdiction.  Each party  irrevocably  submits to the
exclusive jurisdiction of the appropriate state or federal court in the State of
Texas for the purposes of any suit,  action or other  proceeding  arising out of
this Agreement or any  transaction  contemplated  hereby or thereby.  Each party
agrees to commence any such action,  suit or  proceeding in Dallas,  Texas.  The
parties  agree that any service of process to be made  hereunder  may be made by
certified mail, return receipt requested,  addressed to the party at the address

<PAGE>

appearing in Section  9.2.  Such  service  shall be deemed to be completed  when
mailed and sent and received by Telecopier. Seller and Purchaser each waives any
objection based on forum non-conveniens.  Nothing in this paragraph shall affect
the right of Seller or  Purchaser  to serve  legal  process in any other  manner
permitted by law.

         8.5 Counterparts.  This Agreement may be executed by the parties hereto
in separate  counterparts each of which shall be deemed an original,  but all of
which together shall constitute one and the same instrument.

         8.6 Waivers and Amendments;  Non-Contractual Remedies;  Preservation of
Remedies.  This  Agreement may be amended,  superseded,  canceled,  renewed,  or
extended,  and the terms  hereof  may be  waived,  only by a written  instrument
signed by authorized representatives of the parties or, in the case of a waiver,
by an authorized representative of the party waiving compliance. No such written
instrument shall be effective unless it expressly recites that it is intended to
amend, supersede,  cancel, renew or extend this Agreement or to waive compliance
with one or more of the terms  hereof,  as the case may be. No delay on the part
of any party in exercising any right, power or privilege hereunder shall operate
as a waiver  thereof,  nor shall any waiver on the part of any party of any such
right, power or privilege,  or any single or partial exercise of any such right,
power of privilege, preclude any further exercise thereof or the exercise of any
other right,  power or privilege.  The rights and remedies  herein  provided are
cumulative  and are not  exclusive of any rights or remedies  that any party may
otherwise  have at law or in equity.  The rights and remedies of any party based
upon,  arising out of or otherwise in respect of any  inaccuracy in or breach of
any representation,  warranty, covenant or agreement contained in this Agreement
shall in no way be limited  by the fact that the act,  omission,  occurrence  or
other  state of facts upon which any claim of any such  inaccuracy  or breach is
based may also be the subject of any other representation, warranty, covenant or
agreement  contained in this  Agreement (or in any other  agreement  between the
parties) as to which there is no inaccuracy or breach.

         8.7  Binding  Effect;  No  Assignment,   No  Third-Party  Rights.  This
Agreement  shall be binding  upon and inure to the  benefit of the  parties  and
their  respective  successors  and  permitted  assigns.  This  Agreement  is not
assignable without the prior written consent of each of the parties hereto or by
operation of law. This  Agreement is for the sole benefit of the parties  hereto
and their permitted  assigns,  and nothing herein,  expressed or implied,  shall
give or be construed to give to any person,  including any union or any employee
or former  employee  of  Seller,  any legal or  equitable  rights,  benefits  or
remedies of any nature  whatsoever,  including any rights of employment  for any
specified period, under or by reason of this Agreement.

         8.8 Further  Assurances.  Each party shall, at the request of the other
party,  at any time and from time to time  following  the Closing Date  promptly
execute and deliver,  or cause to be executed and delivered,  to such requesting
party all such further  instruments  and take all such further  action as may be
reasonably  necessary or  appropriate to carry out the provisions and intents of
this Agreement and of the instruments delivered pursuant to this Agreement.

         8.9 Severability of Provisions.  If any provision or any portion of any
provision of this  Agreement  or the  application  of any such  provision or any
portion  thereof  to any  person  or  circumstance,  shall  be held  invalid  or
unenforceable,  the  remaining  portion  of such  provision  and  the  remaining

<PAGE>

provisions of the Agreement,  or the application of such provision or portion of
such provision is held invalid or unenforceable to person or circumstances other
than  those  as to which  it is held  invalid  or  unenforceable,  shall  not be
affected  thereby and such  provision or portion of any  provision as shall have
been held invalid or  unenforceable  shall be deemed  limited or modified to the
extent  necessary  to make it valid  and  enforceable,  in no event  shall  this
Agreement be rendered void or unenforceable.

         8.10  Exhibits and  Schedules.  All exhibits  annexed  hereto,  and all
schedules referred to herein, are hereby incorporated in and made a part of this
Agreement as if set forth herein.  Any matter disclosed on any schedule referred
to herein shall be deemed also to have been  disclosed  on any other  applicable
schedule referred to herein.

         8.11  Captions.  All  section  titles  or  captions  contained  in this
Agreement  or in any schedule or exhibit  annexed  hereto or referred to herein,
and the table of contents to this Agreement, are for convenience only, shall not
be  deemed  a part of this  Agreement  and  shall  not  affect  the  meaning  or
interpretation  of this  Agreement.  All references  herein to sections shall be
deemed  references  to such parts of this  Agreement,  unless the context  shall
otherwise require.

         8.12  Expenses.   Except  as  otherwise   expressly  provided  in  this
Agreement,  whether or not the Closing Date occurs,  each party hereto shall pay
its own expenses  incidental to the preparation of this Agreement,  the carrying
out  of  the  provisions   hereof  and  the  consummation  of  the  transactions
contemplated.  For the avoidance of doubt, any fees and expenses incurred by the
Seller or the Company in connection  with  entering into this  Agreement and the
transactions  contemplated  hereby  after  January  1, 2005 shall be paid by the
Seller and not the Company.

         8.13 Public Announcements. The parties agree to consult with each other
before  issuing any press  release or making any public  statement or completing
any  public  filing  with  respect  to  this   Agreement  or  the   transactions
contemplated  hereby and,  except as may be required  by  applicable  law or any
listing  agreement with any national  securities  exchange or quotation  system,
will not issue any such press release or make any such public statement prior to
consultation.

         8.14  Non-confidentiality.  Notwithstanding  Section 8.13, the Company,
Seller and Purchaser,  and each employee,  representative  or other agent of the
same (collectively the "Covered Parties"),  may disclose to any and all persons,
without  limitation  of any kind,  the tax  treatment  and tax  structure of the
transaction  and all  materials  of any kind  (including  opinions  or other tax
analyses)  that are provided to a Covered  Party  relating to such tax treatment
and tax structure.

         8.15 Release.  Seller, for himself and his other family members, heirs,
successors,  and assigns  (collectively the "Releasing Parties") hereby release,
acquit, and forever discharge any and all claims and demands of whatever kind or
character,  whether  vicarious,  derivative,  or direct,  whether  contingent or
liquidated,  or  whether  known  or  unknown,  that  he or  they,  individually,
collectively, or otherwise, have or may have or assert or may assert against the
Company; the Purchaser, any subsidiary, affiliated, or related company, or other
related  entity;  or  any  officer,   director,   fiduciary,   agent,  employee,
representative,  insurer, attorney,  accountant,  financial advisor, consultant,

<PAGE>

partner,  or  shareholder  of the Company or Purchaser;  or any  successors  and
assigns  of the  Company,  the  Purchaser  or  the  other  entities,  companies,
partnerships,   persons  or  parties  just  named  (collectively  the  "Released
Parties")  based upon any theory of federal,  state or local statutory or common
law, the breach of any provision of any contract  (express or implied),  or with
respect  to  any  facts  or  circumstances   that  exist  with  respect  to  the
relationship  among the  Company  or the  Releasing  Parties,  whether  known or
unknown, through the date of execution of this Agreement.

                          ***Signature Page Follows***

<PAGE>

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

                                                   /s/ Richard Armstrong
                                                  ------------------------------
                                                  RICHARD ARMSTRONG

                                                  HALTER CAPITAL CORPORATION

                                                  By:      /s/ Kevin Halter
                                                     ---------------------------
                                                     Kevin Halter, President

                                                  STRONG TECHNICAL, INC.

                                                  By: /s/ Richard Armstrong
                                                    ----------------------------
                                                    Richard Armstrong, President

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