Document:

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                                                                    EXHIBIT 10.3

                  MASTER CONTINUING AND UNCONDITIONAL GUARANTY

To: Bank of America, N.A.

     1. The Guaranty. For valuable consideration, the undersigned (individually
and collectively "Guarantor") hereby unconditionally guarantees and promises to
pay promptly to Bank of America, N.A. ("Bank"), or order, in lawful money of the
United States, any and all Indebtedness of Pacific Sunwear of California, Inc.
("Borrower") to Bank when due, whether at stated maturity, upon acceleration or
otherwise, and at all times thereafter. The liability of Guarantor under this
Guaranty is not limited as to the principal amount of the Indebtedness
guaranteed and includes, without limitation, liability for all interest, fees,
indemnities (including, without limitation, hazardous waste indemnities), and
other costs and expenses relating to or arising out of the Indebtedness. The
liability of Guarantor is continuing and relates to any Indebtedness, including
that arising under successive transactions which shall either continue the
Indebtedness or from time to time renew it after it has been satisfied. This
Guaranty is cumulative and does not supersede any other outstanding guaranties,
and the liability of Guarantor under this Guaranty is exclusive of Guarantor's
liability under any other guaranties signed by Guarantor. If more than one
entity signs this Guaranty, their obligations under this Guaranty shall be joint
and several.

     2. Definitions.

          (a) "Borrower" shall mean the entity named in Paragraph 1 of this
     Guaranty and, if more than one, then any one or more of them.

          (b) "Guarantor" shall mean each entity signing this Guaranty, and, if
     more than one, then any one or more of them.

          (c) "Indebtedness" shall mean any and all debts, liabilities, and
     obligations of Borrower to Bank, now or hereafter existing, whether
     voluntary or involuntary and however arising, whether direct or indirect or
     acquired by Bank by assignment, succession, or otherwise, whether due or
     not due, absolute or contingent, liquidated or unliquidated, determined or
     undetermined, held or to be held by Bank for its own account or as agent
     for another or others, whether Borrower may be liable individually or
     jointly with others, whether recovery upon such debts, liabilities, and
     obligations may be or hereafter become barred by any statute of
     limitations, and whether such debts, liabilities, and obligations may be or
     hereafter become otherwise unenforceable. Indebtedness includes, without
     limitation, any and all obligations of Borrower to Bank for reasonable
     attorneys fees and all other costs and expenses incurred by Bank in the
     collection or enforcement of any debts, liabilities, and obligations of
     Borrower to Bank.

          (d) "Loan Documents" shall mean loan agreements between Borrower and
     Bank and promissory notes from Borrower in favor of Bank evidencing or
     relating to any of the Indebtedness, and shall include, without limitation,
     any interest rate swap or other interest rate protection agreement or any
     other derivative transaction, and deeds of trust, mortgages, security
     agreements, and other agreements, documents, and instruments executed by
     Borrower in connection with such loan agreements, interest rate protection
     agreements and promissory notes, as such loan agreements, promissory notes,
     and other agreements, documents, and instruments are now in effect and as
     hereafter amended, restated, renewed or superseded.

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     3. Obligations Independent. The obligations hereunder are independent of
the obligations of Borrower or any other guarantor, and a separate action or
actions may be brought and prosecuted against Guarantor whether action is
brought against Borrower or any other guarantor or whether Borrower or any other
guarantor be joined in any such action or actions. Anyone executing this
Guaranty shall be bound by its terms without regard to execution by anyone else.

     4. Rights of Bank. Guarantor authorizes Bank, without notice or demand and
without affecting its liability hereunder, from time to time to:

          (a) renew, compromise, extend, accelerate, or otherwise change the
     time for payment, or otherwise change the terms, of the Indebtedness or any
     part thereof, including increase or decrease of the rate of interest
     thereon, or otherwise change the terms of any Loan Documents;

          (b) receive and hold security for the payment of this Guaranty or any
     Indebtedness and exchange, enforce, waive, release, fail to perfect, sell,
     or otherwise dispose of any such security;

          (c) apply such security and direct the order or manner of sale thereof
     as Bank in its discretion may determine; and

          (d) release or substitute any Guarantor or any one or more of any
     endorsers or other guarantors of any of the Indebtedness.

     5. Guaranty to be Absolute. Guarantor agrees that until the Indebtedness
has been paid in full and any commitments of Bank or facilities provided by Bank
with respect to the Indebtedness have been terminated, Guarantor shall not be
released by or because of the taking, or failure to take, any action that might
in any manner or to any extent vary the risks of Guarantor under this Guaranty
or that, but for this paragraph, might operate as a discharge of or otherwise
reduce, limit, or modify Guarantor's obligations under this Guaranty. Guarantor
waives and surrenders any defense to any liability under this Guaranty based
upon any such action, including but not limited to any action of Bank described
in the immediately preceding paragraph. It is the express intent of Guarantor
that Guarantor's obligations under this Guaranty are and shall be absolute and
unconditional.

     6. Guarantor's Waivers of Certain Rights and Certain Defenses. Guarantor
waives:

          (a) any right to require Bank to proceed against Borrower, proceed
     against or exhaust any security for the Indebtedness, or pursue any other
     remedy in Bank's power whatsoever;

          (b) any defense arising by reason of any disability or other defense
     of Borrower, or the cessation from any cause whatsoever of the liability of
     Borrower;

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          (c) any defense based on any claim that Guarantor's obligations exceed
     or are more burdensome than those of Borrower; and

          (d) the benefit of any statute of limitations affecting Guarantor's
     liability hereunder.

No provision or waiver in this Guaranty shall be construed as limiting the
generality of any other waiver contained in this Guaranty.

     7. Waiver of Subrogation. Until the Indebtedness has been paid in full and
any commitments of Bank or facilities provided by Bank with respect to the
Indebtedness have been terminated, Guarantor waives any right of subrogation,
reimbursement, indemnification, and contribution (contractual, statutory, or
otherwise) including, without limitation, any claim or right of subrogation
under the Bankruptcy Code (Title 11, United States Code) or any successor
statute, arising from the existence or performance of this Guaranty, and
Guarantor waives any right to enforce any remedy which Bank now has or may
hereafter have against Borrower, and waives any benefit of, and any right to
participate in, any security now or hereafter held by Bank.

     8. Waiver of Notices. Guarantor waives all presentments, demands for
performance, notices of nonperformance, protests, notices of protest, notices of
dishonor, notices of intent to accelerate, notices of acceleration, notices of
any suit or any other action against Borrower or any other person, any other
notices to any party liable on any Loan Document (including Guarantor), notices
of acceptance of this Guaranty, and notices of the existence, creation, or
incurring of new or additional Indebtedness.

     9. Subordination. Any obligations of Borrower to Guarantor, now or
hereafter existing, including but not limited to any obligations to Guarantor as
subrogee of Bank or resulting from Guarantor's performance under this Guaranty,
are hereby subordinated to the Indebtedness. In addition to Guarantor's waiver
of any right of subrogation as set forth in this Guaranty with respect to any
obligations of Borrower to Guarantor as subrogee of Bank, Guarantor agrees that,
if Bank so requests, Guarantor shall not demand, take, or receive from Borrower,
by setoff or in any other manner, payment of any other obligations of Borrower
to Guarantor until the Indebtedness has been paid in full and any commitments of
Bank or facilities provided by Bank with respect to the Indebtedness have been
terminated. If any payments are received by Guarantor in violation of such
waiver or agreement, such payments shall be received by Guarantor as trustee for
Bank and shall be paid over to Bank on account of the Indebtedness, but without
reducing or affecting in any manner the liability of Guarantor under the other
provisions of this Guaranty. Any security interest, lien, or other encumbrance
that Guarantor may now or hereafter have on any property of Borrower is hereby
subordinated to any security interest, lien, or other encumbrance that Bank may
have on any such property.

     10. Revocation of Guaranty. This Guaranty may be revoked at any time by
Guarantor in respect to future transactions, unless there is a continuing
consideration as to such transactions which Guarantor does not renounce. Such
revocation shall be effective upon actual receipt by Bank, at the address shown
below or at such other address as may have been provided to Guarantor by Bank,
of written notice of revocation. Revocation shall not affect any of Guarantor's
obligations or Bank's rights with respect to transactions which precede Bank's
receipt of such notice, regardless of whether or not the Indebtedness related to
such

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transactions, before or after revocation, has been renewed, compromised,
extended, accelerated, or otherwise changed as to any of its terms, including
time for payment or increase or decrease of the rate of interest thereon, and
regardless of any other act or omission of Bank authorized hereunder. Revocation
by Guarantor shall not affect any obligations of any other guarantor.

     11. Reinstatement of Guaranty. If this Guaranty is revoked, returned, or
canceled, and subsequently any payment or transfer of any interest in property
by Borrower to Bank is rescinded or must be returned by Bank to Borrower, this
Guaranty shall be reinstated with respect to any such payment or transfer,
regardless of any such prior revocation, return, or cancellation.

     12. Stay of Acceleration. In the event that acceleration of the time for
payment of any of the Indebtedness is stayed upon the insolvency, bankruptcy, or
reorganization of Borrower or otherwise, all such Indebtedness guaranteed by
Guarantor shall nonetheless be payable by Guarantor immediately upon demand by
Bank.

     13. No Deductions. All payments by Guarantor hereunder shall be paid in
full, without setoff or counterclaim or any deduction or withholding whatsoever,
including, without limitation, for any and all present and future taxes. In the
event that Guarantor or Bank is required by law to make any such deduction or
withholding, Guarantor agrees to pay on behalf of Bank such amount directly to
the appropriate person or entity, or if the Guarantor cannot legally comply with
the foregoing, Guarantor shall pay to Bank such additional amounts as will
result in the receipt by Bank of the full amount payable hereunder. Guarantor
shall promptly provide Bank with evidence of payment of any such amount made on
Bank's behalf.

     14. Information Relating to Borrower. Guarantor acknowledges and agrees
that it shall have the sole responsibility for, and has adequate means of,
obtaining from Borrower such information concerning Borrower's financial
condition or business operations as Guarantor may require, and that Bank has no
duty, and Guarantor is not relying on Bank, at any time to disclose to Guarantor
any information relating to the business operations or financial condition of
Borrower.

     15. Borrower's Authorization. Where Borrower is a corporation, partnership,
or limited liability company, it is not necessary for Bank to inquire into the
powers of Borrower or of the officers, directors, partners, members, managers,
or agents acting or purporting to act on its behalf, and any Indebtedness made
or created in reliance upon the professed exercise of such powers shall be
guaranteed hereunder, subject to any limitations on Guarantor's liability set
forth herein.

     16. Information Relating to Guarantor. Guarantor authorizes Bank to verify
or check any information given by Guarantor to Bank, check Guarantors credit
references, verify employment, and obtain credit reports.

     17. Foreign Currency. If any claim arising under or related to this
Guaranty is reduced to judgment denominated in a currency (the "Judgment
Currency") other than the currency or currencies in which the Indebtedness is
denominated (individually, an "Obligation Currency"), the judgment shall be for
the equivalent in the Judgment Currency of the amount of the claim denominated
in each Obligation Currency included in the judgment, determined as of the date
of judgment. The equivalent of any Obligation Currency amount in any Judgment

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Currency shall be calculated at the spot rate for the purchase of the Obligation
Currency with the Judgment Currency quoted by Bank in the place of Bank's choice
at or about 8:00 a.m. on the date for determination specified above. Guarantor
shall indemnify Bank and hold Bank harmless from and against all loss or damage
resulting from any change in exchange rates between the date any claim is
reduced to judgment and the date of payment thereof by Guarantor.

     18. Taxes. Guarantor represents and warrants that it is organized and
resident in the United States of America. If Guarantor must make a payment under
this Guaranty, Guarantor represents and warrants that it will make the payment
from one of its U.S. resident offices to a U.S. office of Bank so that no
withholding tax is imposed on the payment. If notwithstanding the foregoing,
Guarantor makes a payment under this Guaranty to which withholding tax applies,
then Guarantor shall pay any taxes (other than taxes on net income (a) imposed
by the country or any subdivision of the country in which Bank's principal
office or actual lending office is located and (b) measured by the United States
taxable income Bank would have received if all payments under or in respect of
this Guaranty were exempt from taxes levied by Guarantor's country) that are at
any time imposed on any such payments under or in respect of this Guaranty
including, but not limited to, payments made pursuant to this paragraph.
Further, Guarantor shall also pay to Bank, on demand, all additional amounts
that Bank specifies as necessary to preserve the after-tax yield Bank would have
received if such taxes had not been imposed.

     19. Successors and Assigns. This Guaranty (a) binds Guarantor and
Guarantor's executors, administrators, successors, and assigns, provided that
Guarantor may not assign its rights or obligations under this Guaranty without
the prior written consent of Bank, and (b) inures to the benefit of Bank and
Bank's endorsees, successors, and assigns. Bank may, without notice to Guarantor
and without affecting Guarantor's obligations hereunder, sell, assign, grant
participation in, or otherwise transfer to any other person, firm, or
corporation the Indebtedness and this Guaranty, in whole or in part. Guarantor
agrees that Bank may disclose to any assignee or purchaser, or any prospective
assignee or purchaser, of all or part of the Indebtedness any and all
information in Bank's possession concerning Guarantor, this Guaranty, and any
security for this Guaranty, provided that such actual or potential participants
or assignees shall agree to treat all financial information exchanged as
confidential.

     20. Costs and Expenses. Guarantor agrees to pay all reasonable attorneys'
fees, including allocated costs of Bank's in-house counsel, and all other costs
and expenses which may be incurred by Bank (a) in the enforcement of this
Guaranty or (b) in the preservation, protection, or enforcement of any rights of
Bank in any case commenced by or against Guarantor under the Bankruptcy Code
(Title 11, United States Code) or any similar or successor statute.

     21. Notices. All notices required under this Guaranty shall be personally
delivered or sent by first class mail, postage prepaid, or by overnight courier,
to the addresses on the signature page of this Guaranty, or sent by facsimile to
the fax number listed on the signature page, or to such other addresses as Bank
and Guarantor may specify from time-to-time in writing. Notices sent by (a)
first class mail shall be deemed delivered on the earlier of actual receipt or
on the fourth business day after deposit in the U.S. mail, postage prepaid, (b)
overnight owner shall be deemed delivered on the next business day, and (c)
telecopy shall be deemed delivered when transmitted.

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     22. Governing Law and Jurisdiction. This Guaranty shall be governed by and
construed under the laws of the State of California. Guarantor irrevocably (a)
submits to the non-exclusive jurisdiction of any United States Federal or State
court sitting in the State of California, in any action or proceeding arising
out of or relating to this Guaranty and (b) waives to the fullest extent
permitted by law any defense asserting an inconvenient forum in connection
therewith. Service of process by Bank in connection with such action or
proceeding shall be binding on Guarantor if sent to Guarantor by registered or
certified mail at its address specified below.

     23. Arbitration and Waiver of Jury Trial

          (a) This paragraph concerns the resolution of any controversies or
     claims between Guarantor and Bank, whether arising in contract, tort or by
     statute, including but not limited to controversies or claims that arise
     out of or relate to: (i) this Guaranty (including any renewals, extensions
     or modifications); or (ii) any document related to this Guaranty
     (collectively a "Claim").

          (b) At the request of Guarantor or Bank, any Claim shall be resolved
     by arbitration in accordance with the Federal Arbitration Act (Title 9,
     United States Code) (the "Act"). The Act will apply even though this
     Guaranty provides that it is governed by the law of a specified state.

          (c) Arbitration proceedings will be determined in accordance with the
     Act, the rules and procedures for the arbitration of financial services
     disputes of J.A.M.S./Endispute or any successor thereof ("J.A.M.S."), and
     the terms of this paragraph. In the event of any inconsistency, the terms
     of this paragraph shall control.

          (d) The arbitration shall be administered by J.A.M.S. and conducted in
     any state where real property collateral for this Guaranty or the Bank
     office originating the Indebtedness guaranteed by this Guaranty is located.
     All Claims shall be determined by one arbitrator; however, if the Claim is
     in excess of Five Million U.S. Dollars ($5,000,000), upon the request of
     any party, the Claim shall be decided by three arbitrators. All arbitration
     hearings shall commence within 90 days of the demand for arbitration and
     close within 90 days of commencement, and the award of the arbitrator(s)
     shall be issued within 30 days of the close of the hearing. However, the
     arbitrator(s), upon a showing of good cause, may extend the commencement of
     the hearing for up to an additional 60 days. The arbitrator(s) shall
     provide a concise written statement of reasons for the award. The
     arbitration award may be submitted to any court having jurisdiction to be
     confirmed and enforced.

          (e) The arbitrator(s) will have the authority to decide whether any
     Claim is barred by the statute of limitations and, if so, to dismiss the
     arbitration on that basis. For purposes of the application of the statute
     of limitations, the service on J.A.M.S. under applicable J.A.M.S. rules of
     a notice of claim is the equivalent of the filing of a lawsuit. Any dispute
     concerning this arbitration provision or whether a Claim is arbitrable
     shall be determined by the arbitrator(s). The arbitrator(s) shall have the
     power to award legal fees pursuant to the terms of this Guaranty.

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          (f) This paragraph does not limit the right of Guarantor or Bank to:
     (i) exercise self-help remedies, such as but not limited to, setoff, (ii)
     initiate judicial or nonjudicial foreclosure against any real or personal
     property collateral, (iii) exercise any judicial or power of sale rights,
     or (iv) act in a court of law to obtain an interim remedy, such as but not
     limited to, injunctive relief, writ of possession or appointment of a
     receiver, or additional or supplementary remedies.

          (g) The procedure described above will not apply if the Claim, at the
     time of the proposed submission to arbitration, arises from or relates to
     an obligation to Bank secured by real property located in California. In
     this case, both Guarantor and Bank must consent to submission of the Claim
     to arbitration. If both parties do not consent to arbitration, the Claim
     will be resolved as follows: Guarantor and Bank will designate a referee
     (or a panel of referees) selected under the auspices of J.A.M.S. in the
     same manner as arbitrators are selected in J.A.M.S. administered
     proceedings. The designated referee(s) will be appointed by a court as
     provided in California Code of Civil Procedure Section 638 and the
     following related sections. The referee (or the presiding referee of the
     panel) will be an active attorney or a retired judge. The award that
     results from the decision of the referee(s) will be entered as a judgment
     in the court that appointed the referee, in accordance with the provisions
     of California Code of Civil Procedure Sections 644 and 645.

          (h) The filing of a court action is not intended to constitute a
     waiver of the right of Guarantor or Bank, including the suing party,
     thereafter to require submittal of the Claim to arbitration.

          (i) By agreeing to binding arbitration, the parties irrevocably and
     voluntarily waive any right they may have to a trial by jury in respect of
     any claim. Furthermore, without intending in any way to limit this
     agreement to arbitrate, to the extent any claim is not arbitrated, the
     parties irrevocably and voluntarily waive any right they may have to a
     trial by jury in respect of such claim. This provision is a material
     inducement for the parties entering into this Guaranty.

     24. Counterparts. This Guaranty may be executed in as many counterparts as
necessary or convenient, and by different parties on separate counterparts each
of which, when so executed, shall be deemed an original but all such
counterparts shall constitute but one and the same agreement.

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Address for notices to Bank:
675 Anton Boulevard, 2nd Floor
Costa Mesa, CA 92626

Address for notices to Guarantor:

--------------------------------------

--------------------------------------

Executed this                      day of                     , 2001
              --------------------        -------------------

                                             PACIFIC SUNWEAR STORES CORP.,
                                             a California corporation

                                             By: /s/ GREG H. WEAVER
                                                 -------------------------------
                                             Name:   Greg H. Weaver
                                             Title:  Chairman of the Board and
                                                     Chief Executive Officer

                                             SHOPPACSUN.COM CORP.,
                                             a California corporation

                                             By:
                                                 -------------------------------
                                             Name:
                                                   -----------------------------
                                             Title:
                                                    ----------------------------

                                       8EXHIBIT 10.1

                          Business Consultant Contract

This agreement dated August 21, 2000, is made By and Between Cyberads, Inc.,
whose address is 3350 NW 2nd Avenue, Suite A-44, Boca Raton, Florida 33431,
referred to as "Company", and Larry Levinson, whose address is 899 NE 76 Street,
Boca Raton, Florida 33487, referred to as "Consultant."

1. Consultation Service - The Company hereby employs the Consultant to perform
the following services in accordance with the terms and conditions set forth in
this agreement: The Consultant will consult with the officers and employees of
the Company concerning matters relating to the management and organization of
the Company, their financial policies, the terms and conditions of employment,
and generally any matter arising out of the business affairs of the Company.

2. Terms Of Agreement - This agreement will begin 9-1-2000 and will end
9-1-2001. Either party may cancel this agreement on thirty (30) days notice to
the other party in writing, by certified mail or personal delivery.

3. Time Devoted by Consultant - It is anticipated the Consultant will spend
approximately one (1) year in fulfilling its obligations under this contract.
The particular amount of time may vary from day to day or week to week. However,
the Consultant shall devote a minimum of 160 hours per month to its duties in
accordance with this agreement.

4. Place Where Services Will Be Rendered - The Consultant will perform most
services in accordance with this contract at 3350 NW 2nd Avenue, Suite A-44,
Boca Raton, Florida 33431. In addition the Consultant will perform services on
the telephone and at such other places as designated by the Company to perform
these services in accordance with this agreement.

5. Payment To Consultant - The Company shall pay Consultant and Consultant
agrees to accept from Company, in full payment for Consultant's services
hereunder, compensation at the rate of One Hundred Twenty Thousand Dollars
($120,000.00) per annum, payable monthly. In addition to the foregoing, Company
shall offer up to Fifty Thousand (50,000) Options of Company corporate stock per
annum at the cost of One Dollar ($1.00). Additionally the Company will reimburse
Consultant for any and all necessary, customary, and unusual expenses incurred
by him while traveling for and on behalf of the Company pursuant to Company's
directions.

6. Consultant's Loyalty To Company's Interest - Consultant expressly agrees that
during the term hereof he will not be interested, directly or indirectly, in any
form, fashion, or manner, as partner, officer, director, stockholder, advisor,
employee, or in any other form or capacity, in any other business similar to
Company's business or any allied trade, except that nothing herein contained
shall be deemed to prevent or limit the right of Consultant to invest any of his
surplus funds in the capital stock or other securities of any corporation

<PAGE>
whose stock or securities are publicly owned or are regularly traded on any
public exchange, nor shall anything herein contained by deemed to prevent
Consultant from investing or limit Consultant's right to invest his surplus
funds in real estate.

7. Nondisclosure Of Information Concerning Business - Consultant will not at any
time, in any fashion, form, or manner, either directly or indirectly divulge,
disclose, or communicate to any person, firm, or corporation in any manner
whatsoever any information of any kind, nature, or description concerning a
matters affecting or relating to the business of employer, including, without
limitation, the names of any its customers, the prices it obtains or has
obtained, or at which it sells or has sold its products, or any other
information concerning the business of Company, its manner of operation, or its
plans, processes, or other date of any kind, nature, or description with regard
to whether any or all of the foregoing matters would be deemed confidential,
materiel, or important. The parties hereby stipulate that, as between them, the
foregoing matters are important, material, and confidential, and gravely affect
the effective and successful conduct of the business of Company, and its good
will, and that any breach of the terms of this section is a mat rial breach of
this agreement.

8. Option To Terminate On Permanent Disability Of Consultant - Notwithstanding
anything in this agreement to the contrary, Company is hereby given the option
to terminate this agreement in the event that during the term hereof Consultant
shall become permanently disabled, as the term "permanently disabled" is
hereinafter fixed and defined. Such option shall be exercised by Company giving
notice to Consultant by registered mail, addressed to him in care of Company at
the above stated address, or at such other address as Company shall designate in
writing, of its intention to terminate this agreement on the last day of the
month during which such notice is mailed. On the giving of such notice this
agreement and the term hereof shall cease and come o an end on the last day of
the month in which the notice is mailed, with the same force and effect as if
such last day of the month were the date originally set forth as the termination
date. For purposes of this agreement, Consultant shall be deemed to have become
permanently disabled if, during any year of term hereof, because of ill health,
physical or mental disability, or for other causes beyond his control, he shall
have been continuously unable or unwilling or have failed t perform his duties
hereunder for thirty (30) consecutive days, or if, during any year of the term
hereof, he shall have been unable or unwilling or have failed to perform his
duties for a total period of thirty (30) days, whether consecutive or not. For
the purposes hereof, the term "any year of the term hereof" is defined to mean
any period of 12 calendar months commencing on the first day of September and
terminating on the last day of September of the following year during the term
hereof.

9. Discontinuance Of A Business As Termination Of Employment - Anything herein
contained to the contrary no withstanding, in the event that Company shall
discontinue operations at the premises mentioned above, then this agreement
shall cease and terminate as of the last day of the month in which operations
cease with the same force and effect as if such last day of the month were
originally set forth as the termination date hereof.

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<PAGE>

10. Consultant's Commitments Binding On Company Only On Written Consent -
Consultant shall not have the right to make any contracts or other commitments
for or on behalf of Company within the written consent of Company.

11. Contract Terms To Be Exclusive - This written agreement contains the sole
and entire agreement between the parties, and supersedes any and all other
agreements between them. The parties acknowledge and agree that neither of them
has made any representation with respect to the subject matter of this agreement
or any representations inducing the execution and delivery hereof except such
representations as are specifically set forth herein, and each party
acknowledges that he or it has relied on his or its own judgment in entering
into the agreement. The parties further acknowledge that any statements or
representations that may have heretofore been made by either of them to the
other are void and of no effect and that neither of them has relied thereon in
connection with his or its dealings with the other.

12. Waiver Or Modification Ineffective Unless In Writing - No waiver or
modification of this agreement or of any covenant, condition, or limitation
herein contained shall be valid unless in writing and duly execute by the party
to be charged therewith. Furthermore, no evidence of any waiver or modification
shall be offered or received in evidence in any proceeding, arbitration, or
litigation between the parties arising out of or affecting this agreement, or
the rights or obligations of any party hereunder, unless such waiver or
modification is in writing, duly executed as aforesaid. The provisions of this
paragraph may not be waived except as herein set forth.

13. Contract Governed By Law - This agreement and performance hereunder and all
suits and special proceedings hereunder shall be construed in accordance with
the laws of the State of Florida.

14. Binding Effect Of Agreement - This agreement shall be binding on and inure
to the benefit of the respective parties and their respective heirs, legal
representatives, successors, and assigns.

Executed on the date first above written.

---------------------------------------
"Company"

---------------------------------------
"Consultant"

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