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c55775_ex10-2.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EX-10.2

EMPLOYMENT AGREEMENT

     EMPLOYMENT AGREEMENT (the “Agreement”) made this 20th day of November 2008 between SED INTERNATIONAL HOLDINGS, INC., a Georgia corporation (the “Company”) and Barry Diamond,
an individual resident of the State of Georgia (the “Executive”).

WITNESSETH:

     WHEREAS, Executive has been employed by SED INTERNATIONAL, INC., a wholly-owned subsidiary of the Company and
a Georgia corporation (the “Subsidiary”); and 

     WHEREAS, the Executive and the Company desire to enter into an agreement with respect to the Executive’s employment by the Company.

     NOW, THEREFORE, in consideration of the foregoing, the employment of the Executive, and the mutual covenants and agreements hereinafter set forth, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

     1.     Employment of Executive:
Duties of Executive. The Company hereby
employs Executive as its Vice President of Purchasing, and Executive hereby accepts
 employment by the Company in that capacity subject to the terms and conditions
set forth in this Agreement. Executive shall faithfully perform for the Company,
or as it directs, the Subsidiary, the duties of said office (as described in
the Bylaws  of the Company) and shall perform such other duties of an executive,
managerial or administrative nature as are from time to time assigned or delegated
to the Executive by the Company. The Executive shall report to the Chief Executive
Officer of the  Company. Throughout his employment hereunder, Executive shall
devote substantially all of his time, energy and skill to perform the duties
of his employment (vacations as provided hereunder and reasonable absences because
of illness excepted), and  shall use his best efforts to follow and implement
all management policies and decisions of the Company and the Subsidiary. Executive
shall not become involved in the management of any other company, partnership,
proprietorship or other entity,  other than an affiliate of the Company (including
the Subsidiary), without the consent of the Board of Directors of the Company
(the “Board”); provided, however,
that  as long as it does not interfere with Executive's employment hereunder
Executive may serve as a director in a company that does not compete with the
businesses of the Company, the Subsidiary or any other affiliate of the Company
(“Other
Affiliates”), and may serve as an officer or director or otherwise participate
in educational welfare, social, religious or civic organizations. The Executive
shall not be required to relocate from the Atlanta, Georgia metropolitan area
in  connection with the performance of his duties hereunder. 

     2.      Compensation Benefits and Reimbursement of Expenses.

     (a) As compensation for his services hereunder, the Company, or the Subsidiary, shall pay Executive an annual base salary
of Two Hundred Fifteen Thousand Dollars ($215,000.00) . Such salary shall be paid in accordance with the normal payroll practices of the Company, or the Subsidiary, as the case may be, and shall be subject to such deductions and withholdings as
are required by law or by the policies of the Company, or the Subsidiary, as the case may be, from time to time in effect. 

     (b) Executive shall be entitled to a bonus ("Bonus") at the sole discretion of the Board. 

     (c) Executive shall be entitled to participate or to continue participation in any present or future group life, health
and hospitalization or disability insurance plans, pension or retirement plans or similar death benefits as are available to management executives of the Company and/or the Subsidiary on the same terms as such other similarly situated executives, in
each case to the extent that Executive is eligible under the terms of such plans or programs. 

     (d) Executive shall be entitled to four (4) weeks of paid vacation per year, subject to the Company's or the
Subsidiary’s, as the case may be, normal employee policies for unused vacation as adopted and amended from time to time. 

     (e) Executive shall be reimbursed in accordance with the policies of the Company as adopted and amended from time to time,
for all reasonable and appropriate expenses incurred by him in connection with the performance of his duties of employment hereunder; provided, however, Executive shall as a condition of such reimbursement, submit verification of the nature and amount of such expenses in accordance with the reimbursement policies from time to time adopted by
the Company. 

     3.      Term and Termination. 

     (a) The term (“Term”) of this Agreement and of Executive's employment hereunder shall commence as of November __, 2008 and shall continue for a period of two (2) years thereafter
unless earlier terminated as provided in Section 3(b) of this Agreement.

     (b) Executive's employment under this Agreement shall terminate upon Executive's death. Executive s employment hereunder may also be terminated (i) upon mutual agreement of Executive and the
Company; (ii) unilaterally by the Company, upon written notice to Executive, for Good Cause (as defined in Section 3(c) below); or (iii) upon written notice to Executive if Executive shall at any time be unable to perform the essential functions of
his job hereunder, by reason of a physical or mental illness or condition with or without reasonable accommodation, for a continuous period of one hundred eighty (180) consecutive days, as certified by a physician or physicians selected by the
Board. 

     (c) As used in this Agreement, "Good Cause" means: (i) any act of fraud or dishonesty; (ii) any act of theft or embezzlement; (in) the breach of any material provision of this Agreement by
Executive (provided that such breach is not cured by Executive within thirty (30) days of receiving written notice of such breach from the Company); (iv) violation of the policies and procedures of the Company or the Subsidiary (v) failure to comply
with the written directions of the Board; (vi) engaging in any unlawful harassment or discrimination; (vii) the conviction of Executive of any crime involving moral turpitude (whether felony or misdemeanor) or involving any felony; (viii) any act of
moral turpitude by Executive that materially adversely affects the Company, the Subsidiary or any Other Affiliates and any of their business reputations; (ix) violation of state or federal securities laws; or (x) any other matter constituting "good
cause" under the laws (including inter alia, statutes, regulations or judicial case law) of the State of Georgia. 

     (d) Upon the termination of this Agreement and Executive's employment hereunder as provided in Section 3(b), neither the Company nor the Subsidiary, as applicable, shall have any 

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further obligation to Executive other than (i) for payment of salary, Bonus amounts, expense reimbursement and other benefits earned or accrued and unpaid at the effective date of such termination; and (ii) any
indemnification payments that may become payable to Executive pursuant to the provisions of the Company's Articles of Incorporation, Bylaws, or similar policies, plans or agreements relating to indemnification of directors and officers of the
Company

     (e) Except as otherwise provided in this Agreement, any payments to which the Executive shall be entitled under this Section 3 including, without limitation, any economic equivalent of
Incentive Compensation and any other benefits, shall be made as promptly as possible following any termination date provided for in subsections 3(a) through (d), each being referred to herein as a “termination date”; provided, however, that if the Executive is deemed a “specified employee” of the Company, or the Subsidiary, within the meaning of Section 409A(a)(2)(B)(i) of the Code (or any successor
provision), no payment under this Section 3 in connection with the Executive’s termination of employment (other than a payment of salary through the date of such termination, and payments on account of termination of employment by reason of
death) shall be made until the date which is six (6) months after the date of the termination of the employment of the Executive (or, if earlier, the date of death of the Executive); provided further, if the Company determines based upon written
advice of counsel that any such payment if made during the calendar year that includes the termination date would not be deductible by either the Company, or the Subsidiary, as the case may be, in whole or in part by reason of Code Section 162(m),
such payment shall be made on January 2 of the following calendar year (or such later date as may be required under the preceding proviso if the Executive is a "specified employee "). Any payment deferred as provided for in this subsection (e) shall
include, when paid, an incremental earnings factor payment equal to ten (10%) percent of the amount deferred multiplied by a fraction the numerator of which is the number of days that such payment is deferred and the denominator of which is 365;
provided, however, that in no event shall the amount of interest contracted for, charged or received hereunder exceed the maximum non-usurious amount of interest allowed by applicable law. 

     If the amount of any payment due to the Executive cannot be finally determined within thirty (30) days after the termination date, such amount shall be estimated on a good faith basis by the
Company and the estimated amount shall be paid thirty (30) days after such termination date (or on such later date as may be determined under the immediately preceding sentence). As soon as practicable thereafter, the final determination of the
amount due shall be made and any adjustment requiring a payment to or from the Executive shall be made as promptly as practicable. 

     4.     Agreement Not to
Solicit Customers. As part of the consideration
for the compensation and benefits to be paid to Executive hereunder, in keeping
with  Executive's duties as a fiduciary and in order to protect the Company's,
the Subsidiary’s, or any Other Affiliates’, interest in the business
relationships developed by Executive with the customers and potential customers
of the Company,  the Subsidiary, or any Other Affiliates, Executive agrees that
during the Term of Executive's employment under this Agreement and for a period
of one (1) year from the date of the termination of such employment (at any time
for any reason, with or  without cause), Executive shall not, without the prior
written consent of the Company, directly or indirectly solicit or attempt to
solicit any Restricted Customer (as hereinafter defined) for the purpose of or
with a view to providing services or  products to the Restricted Customer which
the Company, the Subsidiary, or any Other Affiliates, have or has, as applicable,
provided or provides to such Restricted Customer.  "Restricted Customer" means
any person or entity to which (i) jointly or  severally, the Company, the Subsidiary,
or any Other Affiliates, provided or actively sought to provide services or products
and (ii) with whom Executive had material contact during

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the two (2) year period immediately preceding the termination of Executive's employment with the Company.  Executive understands that the foregoing restrictions may limit his ability to engage in certain businesses anywhere
in the world during the period provided for above, but acknowledges that the Company has a legitimate interest in restricting solicitation as provided in this Section without reference to a specific territory and that Executive will receive
sufficiently high remuneration and other benefits under this Agreement to justify such restriction. 

     5.      Ownership and Protection of Proprietary Information.

     (a) As used herein, "Proprietary Information" means information related jointly or severally to the Company, the Subsidiary, or any Other Affiliates that (i) derives economic value, actual or
potential, from not being generally known to other persons who can obtain economic value from its disclosure or use; and (ii) is the subject of reasonable efforts by the Company, the Subsidiary, or any Other Affiliates to maintain its secrecy,
including, without limitation, (1) with respect to information which has been reduced to tangible form, marking such information clearly and conspicuously with a legend identifying its confidential or proprietary nature; (2) with respect to any oral
presentation or communication, denominating such information as confidential immediately before, during or after such oral presentation or communication; or (3) otherwise treating such information as confidential. Assuming these two criteria are
met, Proprietary Information includes, without limitation, technical and nontechnical data related to the formulas, patterns, designs, compilations, programs, inventions, methods, techniques, drawings, processes, finances, actual or potential
customers and suppliers, research, development, existing and future products, and employees of the Company, the Subsidiary, or any Other Affiliates.  Proprietary Information includes information that has been disclosed to the Company, the
Subsidiary, or any Other Affiliates, by a third party pursuant to which the receiving party is obligated to treat as confidential, and information which is proprietary to any Other Affiliates. 

     (b) Executive acknowledges that all Proprietary Information and all physical embodiments thereof are confidential to and are and will remain the sole and exclusive property of the Company
and/or the Subsidiary. Executive must: (i) immediately disclose to the Company all Proprietary Information developed in whole or in part by Executive during the Term of his employment with the Company, (ii) assign to the Company and/or the
Subsidiary any right, title or interest Executive may have in such Proprietary Information as may be requested by the Company, and (iii) at the request and expense of the Company, do all things and sign all documents or instruments reasonably
necessary in the opinion of the Company to eliminate any ambiguity as to the ownership by, and rights of, the Company and/or the Subsidiary in such Proprietary Information including, without limitation, providing to the Company and/or the Subsidiary
Executive's full cooperation in any litigation or other proceeding to establish or protect such rights. 

     (c) Except to the extent necessary to perform the services to be provided hereunder, Executive will not reproduce, use, distribute, disclose or otherwise disseminate the Proprietary Information
or any physical embodiments thereof and will in no event take any action causing, or fail to take the action necessary in order to prevent, any Proprietary Information disclosed to or developed by Executive to lose its character or cease to qualify
as Proprietary Information. Each reproduction of any of the Proprietary Information must prominently contain a legend identifying its confidential or proprietary nature. 

     (d) Executive represents and warrants that any information disclosed by Executive to the Company, the Subsidiary, or any Other Affiliates, is not confidential or proprietary to Executive or to
any third party.  Accordingly, no obligation of any kind is assumed by or to be implied

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against the Company, the Subsidiary, or any Other Affiliates by virtue of any information received, in whatever form or whenever received, from Executive relating to the subject matter hereof, and the Company, the
Subsidiary or any Other Affiliates will be free to reproduce, use and disclose to others such information without limitation. 

     (e) Upon request by the Company, and in any event upon termination of the employment of Executive with the Company for any reason, as a prior condition to receiving any final compensation
hereunder, Executive will promptly deliver to the Company all property belonging to the Company, the Subsidiary or any Other Affiliates, including, without limitation, all Proprietary Information and all embodiments thereof then in his custody
control or possession. 

     (f) The covenants of confidentiality set forth in this Section 5 will apply on and after the effective date of termination of Executive's employment hereunder to any Proprietary Information
disclosed by the Company, the Subsidiary or any Other Affiliates to, or developed by, Executive prior to or after any such effective date and will continue and be maintained by Executive (i) with respect to all Proprietary Information which falls
within the definition of "trade secrets" under applicable law, at all times following the termination of Executive's employment hereunder for any reason whatsoever, and (ii) with respect to all other Proprietary Information, during the Term of
Executive's employment hereunder and for a period of one (1) year after the termination of Executive's employment hereunder for any reason whatsoever. 

     6.     Intellectual Property. The Company shall be the sole owner of all the products and proceeds of Executive's services
hereunder, including, without limitation, all materials, ideas, concepts, formats suggestions, developments, arrangements, packages, programs and other intellectual property that Executive may acquire, obtain, develop or create in connection with,
and during the Term of, Executive's employment hereunder, free and clear of any claims by Executive or anyone claiming under Executive of any kind or character whatsoever, other than Executive's right to receive payments hereunder. Executive shall,
at the reasonable request of the Company, execute such assignments, certificates or other instruments' as the Company from time to time shall deem necessary or desirable to evidence, establish, maintain, perfect, protect, enforce, or defend its
right, title or interest in or to any such properties. 

     7.     Remedy
for Breach. Executive agrees that the damage
to the Company and its affiliates resulting from any actual or  threatened breach
by Executive of any of the covenants contained in Sections 4, 5 and 6 of this
Agreement would be immediate, irreparable and difficult to measure, and that
money damages would not be an adequate remedy. Therefore, Executive agrees  that
the Company shall be entitled to specific performance of the covenants in any
of such sections or injunctive relief, by temporary or permanent injunction or
other appropriate judicial remedy, writ or order, or both, in addition to any
damages  and legal expenses (including attorneys' fees) which the Company may
be legally entitled to recover. 

     8.     Miscellaneous.
Any notice required hereunder shall be deemed delivered to the Company when transmitted
to the  Secretary of the Company by certified mail, postage prepaid, addressed
to such person at the corporate headquarters of the Company at 4916 North Royal
Atlanta Drive, Tucker, Georgia 30084 (or the principal place of business of the
Company if  hereafter it is moved), and shall be deemed delivered to Executive
when delivered by certified mail, postage prepaid, addressed to Executive at
28 Westfair Court, Atlanta, Georgia 30328. No term or condition of this Agreement
shall be deemed to have  been waived, nor shall there be any estoppel to enforce
any provisions of this Agreement, except by a statement in writing signed by
the party against whom enforcement of the waiver or estoppel is sought. This
Agreement is made under, and shall be  governed by and construed in accordance
with, the laws of the State of 

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Georgia without giving effect to the conflict of law provisions thereof. The headings of the sections of this Agreement are included solely for convenience of reference and shall not control the meaning or interpretation of
any of the provisions of this Agreement. This Agreement contains the entire agreement of the parties relating to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings with respect to such subject
matter, including without limitation the Prior Agreement. No amendment or modification of this Agreement shall be deemed effective unless made in a writing signed by the parties hereto. This Agreement is solely for the benefit of the Company (and
its affiliates) and Executive, and there shall be no third party beneficiaries to this Agreement. This Agreement may not be assigned by Executive. This Agreement shall inure to the benefit of the Company and its affiliates, and their respective
successors and assigns. To the extent any provision or any portion of any provision of this Agreement shall be invalid or unenforceable, it shall be considered deleted herefrom and the remainder of this Agreement shall be unaffected. The obligations
and covenants contained in Sections 3(d) and 4 through 8 (inclusive) of this Agreement shall survive any termination of Executive's employment hereunder at any time for any reason whatsoever.

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Agreement as of the date first indicated above.

	   	   	
SED International Holdings, Inc.,  
	   	   	
a Georgia corporation  
	   
	
/s/ Barry Diamond  	   	
By: /s/ Jean A. Diamond  
	
                                Barry Diamond  	   	
Name: Jean A. Diamond  
	   	   	
Title: Chief Executive Officer  

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GUARANTY 

     WHEREAS, the Subsidiary will directly benefit from the employment of the Executive by the Company; 

     NOW THEREFORE, in consideration for the entering into the Agreement and as an added inducement to the Executive to enter into
the Agreement and for other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the Subsidiary does hereby irrevocably and unconditionally: 

     1) Guarantee to Executive and his successors and assigns the payment and performance of the Company’s obligations (“Guaranteed
Obligations”) pursuant to the Agreement as and when the same shall be due and payable; and 

     2) Covenants and agrees that it is liable for the Guaranteed Obligations as a primary obligor. 

	
    SED International, Inc.,  
	
    a Georgia corporation  
	 	   
	By:	
 /s/ Jean A. Diamond  
	 	
Name: Jean A. Diamond  
	 	
Title: Chief Executive Officer  

7Jetronic Share Exchange Agreement

SHARE EXCHANGE AGREEMENT

This Share Exchange Agreement dated November 21, 2008, by and between Jetronic Industries, Inc., a Pennsylvania corporation (“Buyer”); and New Bastion Development, Inc., a Florida corporation (“Seller”). 

RECITALS

WHEREAS, the Parties desire that Buyer acquire all of the outstanding capital stock of Seller in exchange (the "Share Exchange") for Buyer’s common stock, par value $0.10 per share (“Common Stock”), all as more particularly set forth herein

WHEREAS, upon completion of the Share Exchange, the capitalization of Buyer shall consist of 19,476,946 shares of common stock outstanding, of which Buyer’s shareholders shall retain approximately 9,587,500 shares of Common Stock, and Seller’s shareholders shall retain approximately 9,889,446 shares of Common Stock. Seller shall cancel all of the 15,750,000 shares of Buyer’s Common Stock that was previously issued to Seller by Buyer. Seller’s shareholders holding the 550 shares of Series A Convertible Preferred Stock shall retain such shares until such time that Buyer’s capital structure will enable it to issue 550 shares of comparable preferred stock.

WHEREAS, the boards of directors of the Parties to this Agreement have determined that the proposed transaction is advisable and for the general welfare and advantage of their respective corporations and shareholders and have recommended to their respective shareholders that the proposed transaction be consummated; and

WHEREAS, it is the intent of the parties hereto that the transactions contemplated hereby be structured so as to qualify as a tax-free exchange under Section 368 of the Internal Revenue Code of 1986, as amended (the “IRC”), and the provisions of this Agreement will be interpreted in a manner consistent with this intent.

WHEREAS, the contemplated transactions shall be consummated pursuant to and in accordance with the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the premises and the mutual covenants set forth in this Agreement, the parties agree as follows:

SECTION 1.          Plan of Share Exchange.

          1.1          The Plan of Share Exchange, Exhibit A, is incorporated by reference.

SECTION 2.          Closing.

          2.1          Closing.        Closing shall take place at the offices of the Buyer at 10:00 A.M. on December 18, 2008 (the “Closing” or “Closing Date”), or at another time, date, and place mutually agreed to by the parties, subject to the terms and conditions described herein. Closing

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shall be consummated by the execution and acknowledgment by Buyer and Seller of Articles of Share Exchange in accordance with the Florida Business Corporation Act and Pennsylvania Consolidated Statutes. The Articles of Share Exchange executed and acknowledged shall be delivered for filing to the Secretary of State of each of Pennsylvania and Florida as promptly as possible after the consummation of the closing. The Articles of Share Exchange shall specify the effective date and time of the Share Exchange.

SECTION 3.          Representations and Warranties of Seller.

          3.1          Seller’s Representations and Warranties.                 As of the Closing Date, Seller represents and warrants to Buyer as follows:

                         3.1.1          Capital Structure.    The capitalization of Seller consists of 50,000,000 shares of common stock, $.0.001 par value, of which 19,476,946 shares are issued and outstanding, and 10,000,000 shares of preferred stock, of which 5,000,000 shares are designated as Series A Convertible Preferred Stock, of which 550 shares are issued and outstanding. All of the issued and outstanding capital stock of Seller has been duly authorized and validly issued, and is fully paid and nonassessable, free of preemptive rights, and not subject to any restriction on transfer under the Articles of Incorporation of Seller or any agreement to which Seller is a party or of which Seller has been given notice. There are no outstanding subscriptions, options, warrants, convertible securities, rights, agreements, understandings, or commitments of any kind relating to the subscription, issuance, repurchase, or purchase of capital stock or other securities of Seller, or obligating Seller to transfer any additional shares of its capital stock of any class or any other securities.

                          3.1.2          Ownership of the Shares.           The shares of Buyer’s Common stock (“Common Stock”) being issued to Seller’s shareholders at the Closing are duly authorized and will be validly issued, fully paid, and nonassessable on their issuance. The persons receiving these securities at the Closing will acquire good, valid, and indefeasible title, free and clear of any interests, security interests, claims, liens, pledges, options, penalties, charges, other encumbrances, buy-sell agreements, or rights of any party whatsoever.

                         3.1.3          Organization and Good Standing.

Seller is duly qualified as a Florida corporation and is in good standing in any jurisdiction in which the conduct of its business or the ownership of its assets requires such qualification.

A true and complete copy of the Articles of Incorporation of Seller, each as amended to this date, has been delivered or made available to Buyer. The minute books of Seller are current as required by law, contain the minutes of all meetings of the incorporators, Board of Directors, committees of the Board of Directors, and shareholders from the date of incorporation to this date, and adequately reflect all material actions taken by the incorporators, Board of Directors, committees of the Board of Directors, and shareholders of Seller. Seller has no subsidiaries.

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                         3.1.4          Authorization; Validity.       The execution, delivery, and performance of this Agreement by Seller has been duly and validly authorized by all requisite corporate action. This Agreement has been duly and validly executed and delivered by Seller, and is the legal, valid, and binding obligation of Seller, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency, moratorium, reorganization, and other laws of general application affecting the enforcement of creditors’ rights and by the availability of equitable remedies.

                        3.1.5          Consents.                Other than is set forth herein, no approval, consent, waiver, or authorization of or filing or registration with any governmental authority or third party is required for the execution, delivery, or performance by Seller of the transactions contemplated by this Agreement.

                        3.1.6          Litigation.   Other than is set forth herein, no litigation is pending or to the knowledge of Seller, threatened, to which Seller is or may become a party.

                        3.1.7          Violations.  The execution, delivery, or performance of this Agreement does not and will not (i) with or without the giving of notice or the passage of time, or both, constitute a default under, result in breach of, result in the termination of, result in the acceleration of performance of, require any consent, approval, or waiver, or result in the imposition of any lien or other encumbrance on any property or assets of Seller under, any agreement, lease, or other instrument to which Seller is a party or by which any of the property or assets of Seller are bound; (ii) violate any permit, license, or approval required by Seller to own its assets and operate its business; (iii) violate any law, statute, or regulation or any judgment, order, ruling, or other decision of any governmental authority, court, or arbitrator; or (iv) violate any provision of Seller’s Articles of Incorporation or Bylaws.

                        3.1.8          Financial Statements.         The Seller’s Unaudited Balance Sheet dated June 30, 2008 has been submitted to the Buyer. These statements were prepared according to generally accepted accounting principals.  They fairly represent the financial position of the Seller as of the respective dates and the results of its operations for the periods indicated. Other than with respect to (i) the conversion of $54,723 in Seller’s debt to 218,892 shares of common stock; and (ii) the issuance of 200,000 shares of common stock in exchange for $100,000, since the date of the last balance sheet, there has not been any material change in the financial condition or operations of the Seller. The Seller did not, as of the date of the last balance sheet, have any debt, liability or obligations of any nature, whether accrued, absolute, contingent or otherwise, and whether due or to become due that is not reflected in the Seller’s balance sheet.

          3.2          Survival of Representations and Warranties.          Each of the representations and warranties in Sections 3.1 and 3.2 shall survive the Closing until the expiration of all applicable statute of limitations periods.

SECTION 4.          Representations and Warranties of Buyer.

          4.1          Buyer’s Representations and Warranties.                 As of the Closing Date, Buyer represents and warrants to Seller as follows:

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                         4.1.1          Capital Structure.                      The capitalization of Buyer consists of 100,000,000 shares of common stock, $0.10 par value (“Common Stock”), of which 25,427,834 shares are issued and outstanding. All of the issued and outstanding capital stock of Buyer has been duly authorized and validly issued, and is fully paid and nonassessable, free of preemptive rights, and not subject to any restriction on transfer under the Articles of Incorporation or Bylaws of Buyer or any agreement to which Buyer is a party or of which Buyer has been given notice. There are no outstanding subscriptions, options, warrants, convertible securities, rights, agreements, understandings, or commitments of any kind relating to the subscription, issuance, repurchase, or purchase of capital stock or other securities of Buyer, or obligating Buyer to transfer any additional shares of its capital stock of any class or any other securities. 

                         4.1.2       Organization and Good Standing.                  Buyer is duly qualified as a Pennsylvania corporation and is in good standing in any jurisdiction in which the conduct of its business or the ownership of its assets requires such qualification.

A true and complete copy of the Articles of Incorporation and Bylaws of Buyer, each as amended to this date, has been delivered or made available to Seller. The minute books of Buyer are current as required by law, contain the minutes of all meetings of the incorporators, Board of Directors, committees of the Board of Directors, and shareholders from the date of incorporation to this date, and adequately reflect all material actions taken by the incorporators, Board of Directors, committees of the Board of Directors, and shareholders of Buyer. Buyer has no subsidiaries.

                         4.1.3          Authorization; Validity.       The execution, delivery, and performance of this Agreement by Buyer has been duly and validly authorized by all requisite corporate action. This Agreement has been duly and validly executed and delivered by Buyer, and is the legal, valid, and binding obligation of Buyer, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency, moratorium, reorganization, and other laws of general application affecting the enforcement of creditors’ rights and by the availability of equitable remedies.

                        4.1.4          Consents.   Other than is set forth herein, no approval, consent, waiver, or authorization of or filing or registration with any governmental authority or third party is required for the execution, delivery, or performance by Buyer of the transactions contemplated by this Agreement.

                         4.1.5          Litigation.  Other than is set forth herein, no litigation is pending or to the knowledge of Buyer, threatened, to which Buyer is or may become a party.

                         4.1.6          Violations. The execution, delivery, or performance of this Agreement does not and will not (i) with or without the giving of notice or the passage of time, or both, constitute a default under, result in breach of, result in the termination of, result in the acceleration of performance of, require any consent, approval, or waiver, or result in the imposition of any lien or other encumbrance on any property or assets of Buyer under, any agreement, lease, or other instrument to which Buyer is a party or by which any of the property or assets of Buyer are bound; (ii) violate any permit, license, or approval required by Buyer to own its assets and operate its business; (iii) violate any law, statute, or regulation or any 

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judgment, order, ruling, or other decision of any governmental authority, court, or arbitrator; or (iv) violate any provision of Buyer’s Articles of Incorporation or Bylaws.

          4.2          Survival of Representations and Warranties. Each of the representations and warranties in Section 4.1 shall survive the Closing until the expiration of all applicable statute of limitations periods.

SECTION 5.          Covenants of Seller.

          5.1          Except as may otherwise be consented to or approved in writing by Buyer, Seller agrees that from the date of this Agreement and until the Closing:

                         5.1.1          Conduct Pending Closing.                (i) The Business of Seller shall be conducted only in the ordinary course consistent with past practices.

                         5.1.2          Access to Records.    Seller shall provide Buyer and its representatives access to all records of Seller that they reasonably may request and provide reasonable access to the properties of Seller.

                         5.1.3          Solicitation.  Seller agrees that it will not solicit, consider, or negotiate any offers to acquire the shares or assets of Seller, or to provide any information or to make available any management personnel to third parties for such purposes.

                         5.1.4          Confidentiality. Seller agrees to keep the provisions of this Agreement confidential and will not disclose its provisions to any person, excluding Seller’s accountants, attorneys, and other professionals with whom Seller conducts business and to whom such disclosure is reasonably necessary; provided, however, that such persons shall be advised of the confidential nature of this Agreement at the time of such disclosure.

SECTION 6.          Covenants of Buyer.

          6.1          Except  as may otherwise be consented to or approved in writing by Seller, Buyer agrees that from the date of this Agreement and until the Closing:

                         6.1.1          Conduct Pending Closing.                 (i) The business of Buyer shall be conducted only in the ordinary course consistent with past practices.

                         6.1.2          Access to Records. Buyer shall provide Seller and its representatives access to all records of Buyer that they reasonably may request and provide reasonable access to the properties of Buyer.

                         6.1.3          Solicitation. Buyer agrees that it will not solicit, consider, or negotiate any offers to acquire the shares or assets of Buyer, or to provide any information or to make available any management personnel to third parties for such purposes.

                         6.1.4          Confidentiality.                   Buyer agrees to keep the provisions of this Agreement confidential and will not disclose its provisions to any person, excluding Buyer’s accountants, 

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attorneys, and other professionals with whom Buyer conducts business and to whom such disclosure is reasonably necessary; provided, however, that such persons shall be advised of the confidential nature of this Agreement at the time of such disclosure.

SECTION 7.          Conditions Precedent to Obligations of Buyer. 

Unless, at the Closing, each of the following conditions is either satisfied or waived by Buyer in writing, Buyer shall not be obligated to effect the transactions contemplated by this Agreement:

          7.1          Representations and Warranties.        The representations and warranties of Seller shall be true and correct as of the Closing.

          7.2          Performance of Covenants.           Seller shall have performed and complied in all respects with the covenants and agreements required by this Agreement.

          7.3          Items to be Delivered at Closing.  Seller shall have tendered for delivery to Buyer the following:

                         7.3.1          Articles of Share Exchange.    A duly executed original of the Articles of Share Exchange.

                         7.3.2          Corporate Action.     A certified copy of the corporate action of Seller authorizing and approving this Agreement and the transactions contem­plated by it.

                         7.3.3          Audited Financial Statements.         (i) True copies of Seller’s audited financial statements for the period ending December 31, 2007, along with its most recent un-audited statements through September 30, 2008; and (ii) Pro forma financial information illustrating the impact of this Agreement. Both the audited financial statements and the pro forma financial information shall be suitable for filing pursuant to the requirements of Form 8-K promulgated under the Securities and Exchange Act of 1934, as amended.

           7.4          Dissenting Shares.         As of the Closing Time, Selling Shareholders holding no more than ten percent (10%) of Seller’s common stock shall have delivered to Seller written notice of their intent to demand payment for their shares of such Seller’s common stock.  

          7.5          Proceedings and Instruments Satisfactory. All proceedings, corporate or other, to be taken in connection with the transactions contemplated by this Agreement, and all documents incident to this Agreement, shall be satisfactory in form and substance to Buyer and Buyer’s counsel, whose approval shall not be withheld unreasonably.

SECTION 8.          Conditions Precedent to Obligations of Seller. 

Unless, at the Closing, each of the following conditions is either satisfied or waived by Seller in writing, Seller shall not be obligated to effect the transactions contemplated by this Agreement.

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          8.1          Representations and Warranties. The representations and warranties of Buyer shall be true and correct as of the Closing.

          8.2          Performance of Covenants. Buyer shall have performed and complied in all respects with the covenants and agreements required by this Agreement.

          8.3          Items to be Delivered at Closing. Buyer shall have tendered for delivery to Seller the following:

                         8.3.1          Articles of Share Exchange.  A duly executed original of the Articles of Share Exchange.

                         8.3.2          Corporate Action. A certified copy of the corporate action of Buyer authorizing and approving this Agreement and the transactions contem­plated by it.

                         8.2.1          Delivery of Shares. Stock certificates of Buyer duly issued in the name of each of the shareholders not dissenting to this Share Exchange.

          8.4          Proceedings and Instruments Satisfactory. All proceedings, corporate or other, to be taken in connection with the transactions contemplated by this Agreement, and all documents incident to this Agreement, shall be satisfactory in form and substance to Seller and Seller’s counsel, whose approval shall not be withheld unreasonably.

SECTION 9.          Intentionally Left Blank.

SECTION 10.          Notices.

Any notice, request, demand, or communication required or permitted to be given by any provision of this Agreement shall be deemed to have been delivered, given, and received for all purposes if written and if (i) delivered personally, by facsimile, or by courier or delivery service, at the time of such delivery; or (ii) directed by registered or certified United States mail, postage and charges prepaid, addressed to the intended recipient, at the address specified below, two business days after such delivery to the United States Postal Service.

If to Buyer:

Patrick O’Keefe

1000 NW 65th Street, Suite 103

Fort Lauderdale, Florida 33309

If to Seller: 

Elliot Bellen

1000 NW 65th Street, Suite 103

Fort Lauderdale, Florida 33309

Any party may change the address to which notices are to be mailed by giving notice as provided herein to all other parties.

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SECTION 11.          Miscellaneous.

          11.1          Survival of Representations and Warranties; Limitation of Liability. The representations and warranties of each of the parties contained herein shall survive the execution and delivery hereof, and performance of obligations hereunder, and continue in full force and effect forever hereafter (subject to any applicable statutes of limitations).

          11.2          No Third Party Beneficiaries. This Agreement shall not confer any rights or remedies upon any person or entity other than the parties and their respective successors, assigns, heirs or legal representatives, as the case may be.

          11.3          Entire Agreement. This Agreement (including the documents referred to herein and the Schedules hereto) constitutes the entire agreement among the parties and supersedes any prior understandings, agreements, or representations by or among the parties, written or oral, to the extent they related in any way to the subject matter hereof.

          11.4          Succession and Assignment. This Agreement shall be binding upon and inure to the benefit of the parties named herein and their respective successors, assigns, heirs or legal representatives, as the case may be.

          11.5          Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument.

          11.6          Headings. The paragraph and subparagraph headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Agreement.

          11.7          Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Florida without giving effect to any choice or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than the State of Florida.

          11.8          Amendments and Waivers. No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by each of the parties hereto. No waiver by any party of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence.

          11.9          Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction.

          11.10          Conflict of Terms. In the event of a conflict of terms and conditions between this Agreement and any other agreement, the terms and conditions of this Agreement shall prevail.

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          11.11          General Interpretive Principles.         For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:

                             11.1.1      The terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;

                             11.1.2           Accounting terms not otherwise defined herein have the meanings given to them in accordance with generally accepted accounting principles;

                             11.1.3          References herein to “paragraphs”, “subparagraphs” and other subdivisions without reference to a document are to designated paragraphs, subparagraphs and other subdivisions of this Agreement;

                             11.1.4          A reference to a subparagraph without further reference to a paragraph is a reference to such subparagraph as contained in the same paragraph in which the reference appears;

                             11.1.5          The words “herein”, “hereof”, “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular provision; and

                             11.1.6          The term “include” or “including” shall mean without limitation by reason of enumeration.

                             11.1.7          Incorporation of Schedules. The schedules identified in this Agreement are incorporated herein by reference and made a part hereof.

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

ATTEST:

BUYER:

By:                           

By:/s/Patrick O’Keefe_____

Patrick O’Keefe, President

SELLER:

By:                           

By:/s/Elliot Bellen_______

      Elliot Bellen, President

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Exhibit A

Plan of Share Exchange

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PLAN OF SHARE EXCHANGE

This Plan of Share Exchange (“Plan”) is entered into between Jetronic Industries, Inc. with its principal offices located at 1000 NW 65th Street, Suite 103, Fort Lauderdale, Florida 33309 (“Acquiror”) and New Bastion Development, Inc., a Florida corporation with its principal offices located at 1000 NW 65th Street, Suite 103, Fort Lauderdale, Florida 33309 (“Acquiree”).

          1.          Distribution to Shareholders. On the Effective Date, all of the shareholders of Acquiree not dissenting from the Plan shall automatically have exchanged, without any further action on their part, all of the outstanding common stock of Acquiree for shares of common stock of Acquiror and Acquiree shall become a wholly owned subsidiary of Acquiror (other than with respect to preferred stock). Holders of each share of Acquiree shall receive 0.5 shares of Acquiror. Further, Acquiree shall cancel all of the 15,750,000 shares of Acquiror common stock that was previously issued to Acquiree by Acquiror. Acquiree shareholders holding the 550 shares of Series A Convertible Preferred Stock shall retain such shares until such time that Acquiror’s capital structure will enable it to issue 550 shares of comparable preferred stock.

          2.          Satisfaction of Rights of Acquiree's Shareholders. All shares of Acquiror's stock into which shares of Acquiree's stock have been converted and become exchangeable for under this Plan shall be deemed to have been paid in full satisfaction of such converted shares.

          3.          Fractional Shares. Fractional shares of Acquiror's stock will not be issued to the holders of Acquiree's stock. Fractional shares of Acquiror's stock will rounded up to the nearest whole number. 

          4.          Supplemental Action. If at any time after the Effective Date, Acquiror shall determine that any further conveyances, agreements, documents, instruments, and assurances or any further action is necessary or desirable to carry out the provisions of this Plan, the appropriate officers of Acquiror or Acquiree, as the case may be, whether past or remaining in office, shall execute and deliver any and all proper conveyances, agreements, documents, instruments, and assurances and perform all necessary or proper acts to carry out the provisions of this Plan.

          5.          Filing with the Florida and Pennsylvania Secretaries of State and Effective Date. On the Closing Date, as provided in the Agreement and Plan of Share Exchange of which this Plan is a part, Acquiror and Acquiree shall cause their respective Presidents to execute Articles of Share Exchange in the form attached to this Plan and, on execution, this Plan shall be deemed incorporated by reference into the Articles of Share Exchange as if fully set forth in such Articles and shall become an exhibit to such Articles of Share Exchange. Thereafter, the Articles of Share Exchange shall be delivered for filing to the Florida and Pennsylvania Secretaries of State.  In accordance with the Florida Business Corporation Act and Pennsylvania Consolidated Statutes, the Articles of Share Exchange shall specify the “Effective Date.” The Effective Date shall be the filing date of the Articles, as specified herein or in the Agreement and Plan of Share Exchange.

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          6.          Amendment and Waiver. Any of the terms or conditions of this Plan may be waived at any time by Acquiror or Acquiree by action taken by the Board of Directors of such party, or may be amended or modified in whole or in part at any time before the vote of the shareholders of Acquiree by an agreement in writing executed in the same manner (but not necessarily by the same persons), or at any time thereafter as long as such change is in accordance with the Florida Business Corporation Act and Pennsylvania Consolidated Statutes.

          7.          Termination. At any time before the Effective Date (whether before or after filing the Articles of Share Exchange), this Plan may be terminated and the share exchange abandoned by mutual consent of the Boards of Directors of both corporations, notwithstanding favorable action by the shareholders of Acquiree.

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