Document:

Source Capital Group, Inc

Source Capital Group, Inc.

Members NASD, SIPC

Investment Bankers /Brokers

sourcegrp.com

October 17, 2003

Mr. Greg Pendura 

President & CEO 

Resin Systems, Inc. 

14604 115A Avenue 

Edmonton, AB T5M 3C5 

Canada 

Dear Mr. Pendura:

The purpose of this letter is to confirm the understanding and agreement (the "Agreement") between Source Capital Group, Inc., ("SCG") and Resin Systems, Inc. (or the "Company"), regarding the retention of SCG by the Company as its financial advisor for the purposes set forth herein.

Under this Agreement, SCG will provide financial advisory services to the Company as follows:

A)

Raising of Capital.  SCG shall use its best efforts to provide an equity financing for the Company.

B)

Fees, Commissions.& Expenses. The Company agrees to pay the following fees to  SCG for its services

1.

SCG will be compensated 5% cash and 5% ("unit offering") on any funds raised during this engagement, provided such investors have been introduced to the Company by SCG. Terms of the "Unit Offering" and "Warrants" will be in accordance with the terms and conditions of the Financing Document. Such fees shall be paid at the closing from an escrow account at the same time any new investment   is dispersed to the company.

2.

SCG will receive $10,000 as a non-refundable retainer upon signing of this agreement, and a $5,000 refundable retainer upon signing of this agreement.

3.

Expenses.  In addition to any fees that may be payable to SCG under this Agreement, the Company agrees to reimburse SCG for its reasonable out-of-pocket expenses incurred in connection with the services rendered by SCG hereunder (including, without limitation, travel and lodging, data and word processing, graphics and communication charges, research costs, and courier services and fees) provided expenses in excess of $200 shall require the prior approval of the Company. SCG will, on a monthly basis, provide the Company with reasonable report regarding the expenses incurred. Compensation for any additional professional services (e.g. legal or consulting) contracted for by SCG, to be performed for the benefit of the Company by outside parties, is the responsibility of the Company and will be paid directly by the Company to such party. SCG will not contract for such services without the prior written approval of the Company with regard to both the nature of the service and a reasonable estimate of the cost of such service.

4.

All cash payments under this Agreement shall be made in U.S. dollars and without withholding or deduction of any tax, assessment or other governmental charges unless required by law. Fees and retainers should be made payable and wired to:

Source Capital Group Inc. 

Fleet Bank

ABA# 011900571 

Acct.# 9361882644

A)

Information. The Company will furnish or cause to be furnished to SCG, such information, as SCG believes appropriate to its assignment (all such information so furnished being the "Information"). The Company recognizes and confirms that SCG (a) will use and rely primarily on the Information and on information available from generally recognized public sources in performing the services contemplated by this Agreement without having independently verified the same, (b) does not assume responsibility for the accuracy or completeness of the Information and such other information, (c) is entitled to rely upon the Information without independent verification and (d) will not make an appraisal of any assets or valuation of the Company in connection with its assignment.

B)

Confidentiality. Except as contemplated by the terms hereof or as required by applicable law or legal process, SCG shall keep confidential all non-public information provided to it by or at the request of the Company, and shall not disclose such information to any third party or to any of its employees or advisors except to those persons who have a need   to know such information in connection with SCG's performance of its responsibilities hereunder. The Company understands that any documents, presentations or analyses prepared by SCG are proprietary and SCG is under no obligation to provide (by e-mail, floppy disk or otherwise) either the Company or its assigns with the computer files of such work product. Except as required by applicable law, any advice to be provided by SCG under this Agreement shall not be disclosed publicly or made available to third parties without the prior written consent of SCG. In addition, SCG may not be otherwise publicly referred to without its prior written consent. All services, advice and information and reports provided by SCG to the Company in connection with this assignment shall be for the sole benefit of the Company and shall not be relied upon by any other person.

C)

Indemnity. The Company acknowledges and agrees that SCG has been retained to act solely as financial advisor to the Company. In such capacity, SCG shall act as an independent contractor, and any duties of SCG arising out of its engagement pursuant to this Agreement shall be owed solely to the Company. The Company agrees to indemnify SCG in accordance with the indemnification agreement attached as Exhibit A.

D)

Arbitration. Any and all disputes, demands, claims or controversies hereto arising out of or relating to this agreement or the breach thereof, shall be settled by binding arbitration in accordance with the rules of the American Arbitration Association ("AAA"). The arbitration shall be conducted in New York City under the rules of the AAA.  Any judgment upon the award rendered by the arbitrator may be entered into any court or administrative tribunal having jurisdiction thereof. Costs associated with the arbitration, including reasonable attorney's fees, shall be borne by whichever parties the arbitrators shall deem just and fair.

E)

Term & Termination. The term of SCG's engagement hereunder (the "Term") shall commence on the date hereof and shall end on the earlier of November. 30, 2003 or upon 10 days written notice without cause by either the Company or SCG (the "Expiration Date"). Notwithstanding the foregoing, the provisions relating to the payment of fees and expenses accrued through the Expiration Date, the status of SCG as an independent contractor and the limitation on to whom SCG shall owe any duties will survive any such termination, and any such termination shall not affect the Company's obligations under the indemnification agreement.

SCG will be entitled to the fees set forth above in the event that within 12 months following the Expiration Date, a Financing is consummated with an investor who was introduced to the Company by SCG prior to the Expiration Date and which investor is included on a schedule of investors delivered by SCG to the Company within 10 calendar days following the Expiration Date. The schedule of investors to include only actively pursued parties by SCG.

F)

Advertisements. The Company acknowledges that SCG may, at its option and expense, place an announcement in such newspapers and periodicals as it may choose, stating that SCG has acted as the financial advisor to the Company. SCG agrees that the Company will have the right to approve the form of such announcement, which approval shall not be unreasonably withheld or delayed.

This Agreement (including the attached indemnification) embodies the entire agreement and understanding between the parties hereto and supersedes all prior agreements and understandings relating to the subject matter hereof. If any provision of this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any other respect, which will remain in full force and effect. No waiver, amendment or other modification of this Agreement shall be effective unless in writing and signed by each party to be bound thereby. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York applicable to contracts executed in and to be performed in that state.

Please confirm that the foregoing correctly sets forth our agreement by signing and returning to SCG the duplicate copy of this Agreement, the indemnification agreement attached hereto as Exhibit A.

By:  /s/ Russell W. Newton

Russell W. Newton, CFO 

Source Capital Group, Inc.

By:  /s/ Greg Pendura

Greg Pendura, President & CEO

Resin Systems, Inc.

This Exhibit A is a part of and is incorporated into that certain letter agreement, September 23, 2003 (the "Agreement"), by and between Millennium Biotechnologies, Inc., a Delaware corporation (with its wholly-owned subsidiaries collectively, the "Company"), and Source Capital Group, Inc. (the "Placement Agent"). Capitalized terms used herein and not otherwise defined shall have the respective meanings provided in the Agreement.

The Company agrees to indemnify and hold harmless the Placement Agent, its affiliates and each person controlling the Placement Agent (within the meaning of Section 15 of the Securities Act), and the directors, officers, agents and employees of the Placement Agent, its affiliates and each such controlling person (the Placement Agent, and each such entity or person. an "Indemnified Person") from and against any losses, claims, damages, judgments, assessments, costs and other liabilities (collectively, the "Liabilities"), and shall reimburse each Indemnified Person for all fees and expenses (including the reasonable fees and expenses of one counsel for all Indemnified Persons, except as otherwise expressly provided herein) (collectively, the "Expenses") as they are incurred by an Indemnified Person in investigating, preparing, pursuing or defending any claim, action, proceeding or investigation, whether or not any Indemnified Person is a party thereto (collectively, the "Actions"), (i) caused by, or arising out of or in connection with, any untrue statement or alleged untrue statement of a material fact contained in any offering documents prepared by the Company (including any amendments thereof and supplements thereto) (the "Offer Documents") or by any omission or alleged omission to state therein a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading (other than untrue statements or alleged untrue statements in, or omissions or alleged omissions from, information relating to an Indemnified Person furnished in writing by or on behalf of such Indemnified Person expressly for use in the Offer Documents) or (ii) otherwise arising out of or in connection with advice or services rendered or to be rendered by any Indemnified Person pursuant to the Agreement, the transactions contemplated thereby or any Indemnified Person's actions or inactions in connection with any such advice, services or transactions; provided, however, that, in the case of clause (ii) only, the Company shall not be: responsible for any Liabilities or Expenses of any Indemnified Person that have resulted primarily from such Indemnified Person's (x) gross negligence, bad faith or willful misconduct in connection with any of the advice, actions, inactions or services referred to above or (y) use of any offering materials or information concerning the Company in connection with the offer or sale of the Securities in the Transaction which were not authorized for such use by the Company and which use constitutes negligence, bad faith or willful misconduct. The Company also agrees to reimburse each Indemnified Person for all Expenses as they are incurred in connection with enforcing such Indemnified Person's rights under the Agreement, which includes this Exhibit A.

Upon receipt by an Indemnified Person of actual notice of an Action against such Indemnified Person with respect to which indemnity may be sought under the Agreement, such Indemnified Person shall promptly notify the Company in writing; provided that failure by any Indemnified Person so to notify the Company shall not relieve the Company from any liability which the Company may have on account of this indemnity or otherwise to such Indemnified Person, except to the extent the Company shall have been prejudiced by such failure. The Company shall, if requested by the Placement Agent, assume the defense of any such Action including the employment of counsel reasonably satisfactory to the Placement Agent, which counsel may also be counsel to the Company. Any Indemnified Person shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless: (i) the Company has failed promptly to assume the defense and employ counsel or (ii) the named parties to any such Action (including any impeded parties) include such Indemnified Person and the Company, and such Indemnified Person shall have been advised in the reasonable opinion of counsel that there is an actual conflict of interest that prevents the counsel selected by the Company from representing both the Company (or another client of such counsel) and any Indemnified Person; provided that the Company shall not in such event be responsible hereunder for the fees and expenses of more than one firm of separate counsel for all Indemnified Persons in connection with any Action or related Actions, in addition to any local counsel. The Company shall not be liable for any settlement of any Action effected without its written consent (which shall not be unreasonably withheld). In addition, the Company shall not, without the prior written consent of the Placement Agent (which shall not be unreasonably withheld), settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened Action in respect of which indemnification or contribution may be sought hereunder (whether or not such Indemnified Person is a party thereto) unless such settlement, compromise, consent or termination includes an unconditional release of each Indemnified Person from all Liabilities arising out of such Action for which indemnification or contribution may be sought hereunder. The indemnification required hereby shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as such expense, loss, damage or liability is incurred and is due and payable.

In the event that the foregoing indemnity is unavailable to an Indemnified Person other than in accordance with the Agreement, the Company shall contribute to the Liabilities and Expenses paid or payable by such Indemnified Person in such proportion as is appropriate to reflect (i) the relative benefits to the Company, on the one hand, and to the Placement Agent and any other Indemnified Person, on the other hand, of the matters contemplated by the Agreement or (ii) if the allocation provided by the immediately preceding clause is not permitted by applicable law, not only such relative benefits but also the relative fault of the Company, on the one hand, and the Placement Agent and any other Indemnified Person, on the other hand, in connection with the matters as to which such Liabilities or Expenses relate, as well as any other relevant equitable considerations; provided that in no event shall the Company contribute less than the amount necessary to ensure that all Indemnified Persons, in the aggregate, are not liable for any Liabilities and Expenses in excess of the amount of fees actually received by the Placement Agent pursuant to the Agreement. For purposes of this paragraph, the relative benefits to the Company, on the one hand, and to the Placement Agent on the other hand, of the matters contemplated by the Agreement shall be deemed to be in the same proportion as (a) the total value paid or contemplated to be paid to or received or contemplated to be received by the Company in the transaction or transactions that are within the scope of the Agreement, whether or not any such transaction is consummated, bears to (b) the fees paid to the Placement Agent under the Agreement. Notwithstanding the above, no person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities Act of 1933, as amended, shall be entitled to contribution from a party who was not guilty of fraudulent misrepresentation.

The Company also agrees that no Indemnified Person shall have any liability (whether direct or indirect, in contract or tort or otherwise) to the Company for or in connection with advice or services rendered or to be rendered by any Indemnified Person pursuant to the Agreement, the transactions contemplated thereby or any Indemnified Person's actions or inactions in connection with any such advice, services or transactions except for Liabilities (and related Expenses) of the Company that have resulted primarily from such Indemnified Person's gross negligence, bad faith or willful misconduct in connection with any such advice, actions, inactions or services.

The reimbursement, indemnity and contribution obligations of the Company set forth herein shall apply to any modification of the Agreement and shall remain in. full force and effect regardless of any termination of, or the completion of any Indemnified Person's services under or in connection with, the Agreement.SERVICES AGREEMENT

SERVICES AGREEMENT

This Agreement (the "Agreement") is dated November 7, 2003 and is entered into by and between Resin Systems Inc. (hereinafter referred to as "COMPANY") and Thorpe Beeston Investments Ltd. (hereinafter referred to as "PR CONSULTANT").

Upon execution of this Agreement, COMPANY and PR CONSULTANT agree to cooperate with each other in carrying out the purposes of this Agreement, and each agrees to abide by this Agreement in its entirety.

1.

Scope and Duties and Standard of Performance. During the term of this Agreement, PR CONSULTANT will perform the services for COMPANY as specified in Exhibit "A" to this Agreement. The objective of the services to be performed by PR CONSULTANT is to introduce investment and foster public recognition of and interest in Resin Systems Inc. and its securities within both the United Kingdom and the United States.

PR CONSULTANT shall devote such time and efforts to the affairs of the COMPANY as is reasonably necessary to render the services contemplated by this Agreement. The services of  PR CONSULTANT shall not include the rendering of any legal opinions or the performance of any work that is in the ordinary purview of a certified public accountant.

2.

Budget. For the services hereunder the following monies shall be provided. A budget of five

hundred and forty thousand dollars (US$540,000) shall be provided by the COMPANY. Discretionary budget will be utilized by PR CONSULTANT and will apply best practices in allocation have discretion and apply best practices in utilizing funds.

3.

Indemnification. PR CONSULTANT agrees to indemnify and hold harmless COMPANY, each of their respective officers, directors, employees and each person, if any, who controls either of them against any and all liability, loss and costs, expenses or damages, including but not limited to, any and all expenses whatsoever reasonably incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever or howsoever caused by reason of any injury (whether to body, property, personal or business character or reputation) sustained by any person or to any person or property, arising out of any negligent or unlawful act or omission by PR CONSULTANT and/or COMPANY any of its agents, employees or other representatives. Nothing herein is intended to nor shall it relieve either party from liability for its own act, omission or negligence. All remedies provided by law, or in equity shall be cumulative and not in the alternative.

4.

Services Not Expressed or Implied.

1.1

PR CONSULTANT is not and will not be a market-maker in COMPANY's securities.

1.2

Any payments made herein to PR CONSULTANT are not, and shall not be construed as, compensation to PR CONSULTANT for the purpose of making a market, to cover PR CONSULTANT'S out-of-pocket expenses for making a market, or for the submission by PR CONSULTANT of an application to make a market in any securities; and

1.3

No payments made herein to PR CONSULTANT are for the purpose of effecting the price of any security or influencing any market-making functions, including but not limited to, bid/ask quotations, initiation and termination of quotations, retail securities activities, or for the submission of any application to make a market.

2

Confidentiality.

5.1  PR CONSULTANT and COMPANY each agree to keep confidential and provide reasonable security measures to keep confidential information where release may be detrimental to their respective business interests or the business interests of COMPANY. PR CONSULTANT and COMPANY shall each require their employees, agents, affiliates, other licensees, and others who will have access to the information through PR CONSULTANT and COMPANY respectively, to first enter appropriate non-disclosure agreements requiring the confidentiality contemplated by this Agreement in perpetuity.

3

Other Provisions.

1.1

PR CONSULTANT shall obtain COMPANY's prior approval prior to dissemination of any materials contemplated by this Agreement.

1.2

CLIENT agrees to prepay in advance any and all agreed upon travel and/or business trips including flight air fair charges and hotel charges for the entire duration of required stay. All other expenses are to be itemized and submitted within a 30-day period as set out below.

1.3

PR CONSULTANT will deliver invoicing to the COMPANY at the completion of each and any work-order in order to itemize budget allocation.

1.4

The PR CONSULTANT agrees that all actions, direct or indirect, taken by it and its agents, employees and affiliates in connection with this Agreement shall conform to all applicable federal and. state securities laws.

1.5

This agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns, but neither this Agreement nor any right, interest or obligations hereunder will be assigned by either of the parties hereto without the prior written consent of the other party, except by operation of law.

1.6

This agreement and the legal relations among the parties hereto shall be governed by and construed in accordance with the laws of the State of DELAWARE, without regard to its conflict of law doctrine.

1.7

Either party may terminate this Agreement prior to expiry of the term by providing the other party with 5 days written notice.

1.8

COMPANY shall provide PR CONSULTANT information about the company described above (Resin Systems), such as financial statements, business plans, news releases, material change reports, offering documents, filing statements, promotional information, leads generated from advertising in different media outlets and other similar relevant documentation as may be reasonably necessary to complete and perform the services thereunder. The COMPANY shall ensure that PR CONSULTANT has up-to-date information within a reasonable time frame after such information has been made available. The COMPANY acknowledges and agrees that the purpose of this disclosure is for the use by PR CONSULTANT in preparing materials, and PR CONSULTANT may rely on and assume the accuracy of the information, and is not obligated to assess the financial viability of or verify factual information about the Company provided to PR CONSULTANT. In addition to, PR CONSULTANT will not be liable for any information or documentation supplied by the COMPANY including any material developed by PR CONSULTANT verified and accepted by the COMPANY and will be indemnified and saved harmless by the COMPANY and its affiliates, representatives, partners, from any claims, proceedings, costs, fines, damages, expenses, losses arising from such information or documentation.

1.9

The Term of this Agreement will become effective Nov 7, 2003. The “Company" hereby engages PR CONSULTANT for a period of nine (9) Months (the contract period) ending July 7, 2004.

1.10

Currency. References to dollars shall be deemed to be United States Dollars unless otherwise specified.

1.0

PR CONSULTANT acknowledges and agrees that, in respect of any information (written or oral) provided to the PR CONSULTANT in connection with this engagement, no representation or warranty of any nature is made concerning such information and the PR CONSULTANT shall not make any claim against COMPANY or any other third party (including, without limitation) or any of their respective officers, directors, employees or agents based on any alleged misrepresentation         in         any         such         information.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed, all as of the day and year first above written.

COMPANY:

Resin Systems Inc. 

Head Office

14604 - 115 A Avenue 

Edmonton, AB 

Canada T5M 3C5 

Tel: (730) 432-1953 

Fax: (780) 452-8755

By:  /s/ Greg Pendura

Title: President - CEO

Dated:

Nov 7, 2003

PR CONSULTANT:

Thorpe- Beeston Investments Ltd. 

8 Clifford St

London. W1S 2LQ. 

Tel: +44-20-7851-6142 

Fax: +44-20-7851-6100

By:  /s/ Adrian Beeston

Title:  Director

Dated: Nov 11/03

Exhibit "A"

Scope of Services

1.

Consulting with the Company for the purpose of developing capital market awareness strategies for both Europe and North America.

2.

Assisting the Company in the development of Corporate Positioning and Messaging as it pertains to the capital markets.

3.

The creation and distribution of corporate materials for the purpose of developing shareholder awareness.

4.

The introduction of the Company to third-party analysts and/or investment newsletter's for the purpose of attracting coverage.

5.

The distribution of relevant reports that maybe created as a result of attracting such coverage, for the purpose of creating shareholder awareness.

6.

Introductions to financial institutions and/or broker dealers for the purpose of attracting research coverage and/or investment capital.

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