Document:

Exhibit 10.22

                                                                     Aug 02 2004
                           WINTHROP FINANCIAL SERVICES

                                                 Lease Agreement Number AL072204

                                 Lease Agreement

This Lease Agreement, dated July 22, 2004, by and between WINTHROP RESOURCES
CORPORATION (the "Lessor") with an office located at 11100 Wayzata Boulevard,
Suite 800, Minnetonka, Minnesota 55305 and ALL AMERICAN SEMICONDUCTOR, INC. (the
"Lessee") with an office located at 16115 N.W. 52nd Avenue, Miami, FL 33014.

Lessor hereby leases or grants to the Lessee the right to use and Lessee hereby
rents and accepts the right to use the equipment listed by serial number and
related services, and software and related services on the Lease Schedule(s)
attached hereto or incorporated herein by reference from time to time
(collectively, the equipment, software and services are the "Equipment"),
subject to the terms and conditions hereof, as supplemented with respect to each
item of Equipment by the terms and conditions set forth in the appropriate Lease
Schedule. The term "Lease Agreement" shall include this Lease Agreement and the
various Lease Schedule(s) identifying each item of Equipment or the appropriate
Lease Schedule(s) identifying one or more particular items of Equipment.

1.      Term
        This Lease Agreement is effective from the date it is executed by both
parties. The term of this Lease Agreement, as to all Equipment designated on any
particular Lease Schedule, shall commence on the Installation Date for all
Equipment on such Lease Schedule and shall continue for an initial period ending
that number of months from the Commencement Date as set forth in such Lease
Schedule (the "Initial Term") and shall continue from year to year thereafter
until terminated. The term of this Lease Agreement as to all Equipment
designated on any particular Lease Schedule may be terminated without cause at
the end of the Initial Term or any year thereafter by either party mailing
written notice of its termination to the other party not less than one-hundred
twenty (120) days prior to such termination date.

2.      Commencement Date
        The Installation Date for each item of Equipment shall be the day said
item of Equipment is installed at the Location of Installation, ready for use,
and accepted in writing by the Lessee. The Commencement Date for any Lease
Schedule is the first of the month following installation of all the Equipment
on the Lease Schedule, unless the latest Installation Date for any Equipment on
the Lease Schedule falls on the first day of the month, in which case that is
the Commencement Date. After Lessee has inspected, tested, and accepted the
Equipment, the Lessee agrees to complete, execute and deliver a Certificate of
Acceptance to Lessor.

3.      Lease Charge
        The lease charges for the Equipment leased pursuant to this Lease
Agreement shall be the aggregate "Monthly Lease Charge(s)" as set forth on each
and every Lease Schedule executed pursuant hereto (the aggregate "Monthly Lease
Charge(s)" are the "Lease Charges"). Lessee agrees to pay to Lessor the Lease
Charges in accordance with the Lease Schedule(s), and the payments shall be made
at Lessor's address indicated thereon. The Lease Charges shall be paid by Lessee
monthly in advance with the first full month's payment due on the Commencement
Date. The Lease Charge for the period from the Installation Date to the
Commencement Date (the "Installation Period") shall be an amount equal to the
"Monthly Lease Charge" divided by thirty (30) and multiplied by the number of
days from and including the Installation Date to the Commencement Date and such
amount shall be due and payable upon receipt of an invoice from Lessor. Charges
for taxes made in accordance with Section 4 and charges made under any other
provision of this Lease Agreement and payable by Lessee shall be paid to Lessor
at Lessor's address specified on the Lease Schedule(s) on the date specified in
invoices delivered to Lessee. If payment, as specified above, is not received by
Lessor on the due date, Lessee agrees to and shall pay, to the extent permitted
by law, on demand, as a late charge, an amount equal to one percent (1%), or the
maximum percentage allowed by law if
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less, of the amount past due ("Late Charges"). Late Charges will accrue until
billed by Lessor. Late Charges shall be charged and added to any past due
amount(s) on the date such payment is due and every thirty (30) days thereafter
until all past due amounts are paid in full to Lessor.

4.      Taxes
        In addition to the Lease Charges set forth in Section 3, the Lessee
shall reimburse Lessor for all license or registration fees, assessments, sales
and use taxes, rental taxes, gross receipts taxes, personal property taxes and
other taxes now or hereafter imposed by any government, agency, province or
otherwise upon the Equipment, the Lease Charges or upon the ownership, leasing,
renting, purchase, possession or use of the Equipment, whether the same be
assessed to Lessor or Lessee (the "Taxes"). Lessor shall file all property tax
returns and pay all Taxes when due. Lessee, upon notice to Lessor, may, in
Lessee's own name, contest or protest any Taxes, and Lessor shall honor any such
notice except when in Lessor's sole opinion such contest is futile or will cause
a levy or lien to arise on the Equipment or cloud Lessor's title thereto. Lessee
shall, in addition, be responsible to Lessor for the payment and discharge of
any penalties or interest as a result of Lessee's actions or inactions. Nothing
herein shall be construed to require Lessee to be responsible for any federal or
state taxes or payments in lieu thereof, imposed upon or measured by the net
income of Lessor, or slate franchise taxes of Lessor, or except as provided
hereinabove, any penalties or interest resulting from Lessor's failure to timely
remit such tax payments.

5.      Delivery and Freight Costs
        Lessee shall accept delivery of and install the Equipment before such
time as the applicable vendor requires payment for such Equipment.
        All transportation charges upon the Equipment for delivery to Lessee's
designated Location of Installation are to be paid by Lessee. All rigging,
drayage charges, structural alterations, rental of heavy equipment and/or other
expense necessary to place the Equipment at the Location of Installation are to
be promptly paid by Lessee.

6.      Installation
        Lessee agrees to pay for the actual installation of the Equipment at
Lessee's site. Lessee shall make available and agrees to pay for all costs
associated with providing a suitable place of installation and necessary
electrical power, outlets and air conditioning required for operating the
Equipment as defined in the Equipment manufacturers installation manual or
instructions. All supplies consumed or required by the Equipment shall be
furnished and paid for by Lessee.

7.      Return to Lessor
        On the day following the last day of the lease term associated with a
Lease Schedule (the "Return Date"), Lessee shall cause and pay for the Equipment
on that Lease Schedule to be deinstalled, packed using the manufacturer's
standard packing materials and shipped to a location designated in writing by
Lessor (the "Return Location"). If the Equipment on the applicable Lease
Schedule is not at the Return Location within ten (10) days of the Return Date,
or Lessee fails to deinstall and ship the Equipment on the Return Date, then any
written notice of termination delivered by Lessee shall become void, and the
Lease Schedule shall continue in accordance with this Lease Agreement.
Irrespective of any other provision hereof, Lessee will bear the risk of damage
from fire, the elements or otherwise until delivery of the Equipment to the
Return Location. At such time as the Equipment is delivered to the Lessor at the
Return Location, the Equipment will be at the risk of Lessor.

8.      Maintenance
        Lessee, at its sole expense, shall maintain the Equipment in good
working order and condition. Lessee shall enter into, pay for and maintain in
force during the entire term of any Lease Schedule, a maintenance agreement with
the manufacturer of the Equipment providing for continuous uninterrupted
maintenance of the Equipment (the "Maintenance Agreement"), in every case in
which such maintenance agreement is available. Lessee will cause the
manufacturer to keep the Equipment in good working order in accordance with the
provisions of the Maintenance Agreement and make all necessary adjustments and
repairs to the Equipment. The manufacturer is
<PAGE>

hereby authorized to accept the directions of Lessee with respect thereto.
Lessee agrees to allow the manufacturer full and free access to the Equipment.
All maintenance and service charges, whether under the Maintenance Agreement or
otherwise, and all expenses, if any, of the manufacturer's customer engineers
incurred in connection with maintenance and repair services, shall be promptly
paid by Lessee. Lessee warrants that all of the Equipment shall be in good
working order operating according to manufacturer's specification and eligible
for the manufacturer's standard maintenance agreement upon delivery to and
inspection and testing by the Lessor. If the Equipment is not free of physical
defect or damage, operating according to manufacturer's specification, in good
working order and/or eligible for the manufacturer's standard maintenance
agreement, then Lessee agrees to reimburse Lessor for all costs, losses,
expenses and fees associated with such equipment and the repair or replacement
thereof

9.      Location, Ownership and Use
        The Equipment shall, at all times, be the sole and exclusive property of
Lessor. Lessee shall have no right or property interest therein, except for the
right to use the Equipment in the normal operation of its business at the
Location of Installation, or as otherwise provided herein. The Equipment is and
shall remain personal property even if installed in or attached to real
property. Lessor shall be permitted to display notice of its ownership on the
Equipment by means of a suitable stencil, label or plaque affixed thereto.
      Lessee shall keep the Equipment at all times free and clear from all
claims, levies, encumbrances and process. Lessee shall give Lessor immediate
notice of any such attachment or other judicial process affecting any of the
Equipment. Without Lessor's written permission, Lessee shall not attempt to or
actually: (i) pledge, fend, create a security interest in, sublet, exchange,
trade, assign, swap, use for an allowance or credit or otherwise; (ii) allow
another to use; (iii) part with possession; (iv) dispose of; or (v) remove from
the Location of Installation, any item of Equipment. If any item of Equipment is
exchanged, assigned, traded, swapped, used for an allowance or credit or
otherwise to acquire new or different equipment (the "New Equipment") without
Lessor's prior written consent, then all of the New Equipment shall become
Equipment owned by Lessor subject to this Lease Agreement and the applicable
Lease Schedule.
      Any feature(s) installed on the Equipment at the time of delivery which
are not specified on the Lease Schedule(s) are and shall remain the sole
property of the Lessor.
      Lessee shall cause the Equipment to be operated in accordance with the
applicable vendor's or manufacturer's manual of instructions by competent and
qualified personnel.

10.     Financing Statement
        Lessor is hereby authorized by Lessee to cause this Lease Agreement or
other instruments, including Uniform Commercial Code Financing Statements, to be
filed or recorded for the purposes of showing Lessor's interest in the
Equipment. Lessee agrees to execute any such instruments as Lessor may request
from time to time.

11.     Alterations and Attachments
        Upon prior written notice to Lessor, Lessee may, at its own expense,
make minor alterations in or add attachments to the Equipment, provided such
alterations and attachments shall not interfere with the normal operation of the
Equipment and do not otherwise involve the pledge, assignment, exchange, trade
or substitution of the Equipment or any component or part thereof. All such
alterations and attachments to the Equipment shall become part of the Equipment
leased to Lessee and owned by Lessor. If, in Lessor's sole determination, the
alteration or attachment reduces the value of the Equipment or interferes with
the normal and satisfactory operation or maintenance of any of the Equipment, or
creates a safety hazard, Lessee shall, upon notice from Lessor to that effect,
promptly remove the alteration or attachment at Lessee's expense and restore the
Equipment to the condition the Equipment was in just prior to the alteration or
attachment

12.     Loss and Damage
        Lessee shall assume and bear the risk of loss, theft and damage
(including any governmental requisition, condemnation or confiscation) to the
Equipment and all component parts thereof from any and every cause whatsoever,
whether or not covered by insurance No loss or damage to the
<PAGE>

Equipment or any component part thereof shall impair any obligation of Lessee
under this Lease Agreement, which shall continue in full force and effect except
as hereinafter expressly provided Lessee shall repair or cause to be repaired
all damage to the Equipment. In the event that all or part of the Equipment
shall, as a result of any cause whatsoever, become lost, stolen, destroyed or
otherwise rendered irreparably unusable or damaged (collectively, the "Loss")
then Lessee shall, within ten (10) days after the Loss, fully inform Lessor in
writing of such a Loss and shall pay to Lessor the following amounts: (i) the
Monthly Lease Charges (and other amounts) due and owing under this Lease
Agreement at the time of the Loss (excluding all amounts, if any, that are or
would be due as a result of acceleration of the maturities of the obligations
under this Lease) plus (ii) one-hundred twelve (112%) percent of the original
cost of the Equipment subject to the Loss (or Event of Default, as defined
hereinafter) amortized by the Monthly Lease Charges received by Lessor during
the Initial Term using an amortization rate of 350 basis points over the
interest rate of the three (3) year United States Treasury Note as reported by
The Wall Street Journal on the Commencement Date (collectively, the sum of (i)
plus (ii) shall be the "Casualty Loss Value"). Upon receipt by Lessor of the
Casualty Loss Value: (i) the applicable Equipment shall be removed from the
Lease Schedule; and (ii) Lessee's obligation to pay Lease Charges associated
with the applicable Equipment shall cease. Lessor may request, and Lessee shall
complete, an affidavit(s) which swears out the facts supporting the Loss of any
item of Equipment.

13.     Insurance
        Until the Equipment is returned to Lessor or as otherwise herein
provided, whether or not this Lease Agreement has terminated as to the
Equipment, Lessee, at its expense, shall maintain: (i) property and casualty
insurance insuring the Equipment for its Casualty Loss Value naming Lessor or
its assigns as sole loss payee; provided, however, that Lessee shall not be
obligated to insure soft costs such as services, consulting, installation, and
freight: and (ii) comprehensive public liability and third-party property
insurance naming 'Lessor and its assigns as additional loss payees. The
insurance shall cover the interest of both the Lessor and Lessee in the
Equipment, or as the case may be, shall protect both the Lessor and Lessee in
respect to all risks arising out of the condition, delivery, installation,
maintenance, use or operation of the Equipment All such insurance shall provide
for thirty (30) days prior written notice to Lessor of cancellation,
restriction, or reduction of coverage. Lessee hereby irrevocably appoints Lessor
as Lessee's attorney-in-fact to make claim for, receive payment of and execute
and endorse all documents, checks or drafts for loss or damage or return premium
under any insurance policy issued on the Equipment Prior to installation of the
Equipment, all policies or certificates of insurance shall be delivered to
Lessor by Lessee. Lessee agrees to keep the Equipment insured with an insurance
company which is at least "A" rated by A.M. Best. The proceeds of any loss or
damage insurance shall be payable to Lessor, but Lessor shall remit all such
insurance proceeds to Lessee at such time as Lessee either (i) provides Lessor
satisfactory proof that the damage has been repaired and the Equipment has been
restored to good working order and condition or (ii) pays to Lessor the Casualty
Loss Value. It is understood and agreed that any payments made by Lessee or its
insurance carrier for loss or damage of any kind whatsoever to the Equipment are
not made as accelerated rental payments or adjustments of rental, but are made
solely as indemnity to Lessor for loss or damage of its Equipment.

14.     Enforcement of Warranties
        Lessee, in its own name, shall, so long as this Lease Agreement is in
force, enforce any manufacturer's Equipment warranty Lessor will and hereby does
assign all Equipment warranties to the Lessee

15.     Warranties, Disclaimers and Indemnity
        Lessor warrants that at the time the Equipment is delivered to Lessee,
Lessor will have full right, power and authority to lease the Equipment to
Lessee. EXCEPT FOR THE WARRANTY IN THE SENTENCE DIRECTLY PRECEDING THIS ONE, THE
LESSOR DOES NOT MAKE ANY WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING THE
WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. LESSEE
ACKNOWLEDGES THAT IT IS NOT RELYING ON LESSOR'S SKILL OR JUDGMENT TO SELECT OR
FURNISH GOODS SUITABLE FOR ANY PARTICULAR PURPOSE AND THAT THERE ARE NO
WARRANTIES CONTAINED IN
<PAGE>

THIS LEASE AGREEMENT. LESSEE REPRESENTS AND WARRANTS THAT IT IS NOT A FOREIGN
"FINANCIAL INSTITUTION" OR ACTING ON BEHALF OF A FOREIGN "FINANCIAL INSTITUTION"
AS THAT TERM IS DEFINED IN THE BANK SECRECY ACT, 31 U.S C. 5318, AS AMENDED.
LESSEE ACKNOWLEDGES THAT LESSOR, IN COMPLIANCE WITH SECTION 326 OF THE USA
PATRIOT ACT, WILL BE VERIFYING CERTAIN INFORMATION ABOUT LESSEE. LESSEE FURTHER
ACKNOWLEDGES AND AGREES THAT LESSOR AND ITS REPRESENTATIVES AND EMPLOYEES HAVE
NOT MADE ANY STATEMENT, REPRESENTATION OR WARRANTY RELATIVE TO THE ACCOUNTING OR
TAX ENTRIES, TREATMENT, BENEFIT, USE OR CLASSIFICATION OF THE LEASE AGREEMENT OR
ASSOCIATED LEASE SCHEDULES. LESSEE ACKNOWLEDGES THAT IT AND/OR ITS INDEPENDENT
ACCOUNTANTS ARE SOLELY RESPONSIBLE FOR (i) ANY AND ALL OF LESSEE'S ACCOUNTING
AND TAX ENTRIES ASSOCIATED WITH THE LEASE AGREEMENT AND/OR THE LEASE SCHEDULES
AND (ii) THE ACCOUNTING AND TAX TREATMENT, BENEFITS, USES AND CLASSIFICATION OF
THE LEASE AGREEMENT OR ANY LEASE SCHEDULE. LESSOR SHALL NOT BE LIABLE FOR ANY
DAMAGES WHATSOEVER, INCLUDING, BUT NOT LIMITED TO, SPECIAL, INCIDENTAL OR
CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH THE RELATIONSHIP
BETWEEN THE LESSOR AND LESSEE, THIS LEASE AGREEMENT OR THE PERFORMANCE,
POSSESSION, LEASE OR USE OF THE EQUIPMENT. THIS LEASE AGREEMENT IS A "FINANCE
LEASE" AS THAT TERM IS DEFINED AND USED IN ARTICLE 2A OF THE UNIFORM COMMERCIAL
CODE
        Lessee agrees that Lessor shall not be liable to Lessee for, and Lessee
shall indemnify, defend and hold Lessor harmless with respect to, any claim from
a third party for any liability, claim, loss, damage or expense of any kind or
nature, whether based upon a theory of strict liability or otherwise, caused,
directly or indirectly, by: (i) the inadequacy of any item of Equipment,
including software, for any purpose; (ii) any deficiency or any latent or other
defects in any Equipment, including software, whether or not detectable by
Lessee; (iii) the selection, manufacture, rejection, ownership, lease,
possession, maintenance, operation, use or performance of any item of Equipment,
including software. (iv) any interruption or loss of service, use or performance
of any item of Equipment, including software; (v) patent, trademark or copyright
infringement; or (vi) any loss of business or other special, incidental or
consequential damages whether or not resulting from any of the foregoing.
Lessee's duty to defend and indemnify Lessor shall survive the expiration,
termination, cancellation or assignment of this Lease Agreement or a Lease
Schedule and shall be binding upon Lessee's successors and permitted assigns;
provided, however, that Lessee's duty to defend and indemnify Lessor as it
relates to any particular item of Equipment shall be limited to claims and/or
causes of action arising prior to the return of said Equipment to Lessor
pursuant to this Lease Agreement, subject to applicable statutes of limitation.

16.     Event of Default
        The occurrence of any of the following events shall constitute an Event
of Default under this Lease Agreement and/or any Lease Schedule:

   (1)  the nonpayment by Lessee of any Lease Charges when due, or the
        nonpayment by Lessee of any other sum required hereunder to be paid by
        Lessee which non-payment continues for a period of ten (10) days from
        the date when due;

   (2)  the failure of Lessee to perform any other term, covenant or condition
        of this Lease Agreement, any Lease Schedule or any other document,
        agreement or instrument executed pursuant hereto or in connection
        herewith, which is not cured within fifteen (15) days after written
        notice thereof from Lessor;

   (3)  Lessee attempts to or does remove, transfer, sell, swap, assign,
        sublease, trade, exchange, encumber, or part with possession of, any
        item of Equipment;

   (4)  Lessee ceases doing business as a going concern, is insolvent, makes an
        assignment for the benefit of creditors, fails to pay its debts as they
        become due, offers a settlement to creditors or calls a meeting of
        creditors for any such purpose, files a voluntary petition in
        bankruptcy, is
<PAGE>

        subject to an involuntary petition in bankruptcy, is adjudicated
        bankrupt or insolvent, files or has filed against it a petition seeking
        any reorganization, arrangement or composition, under any present or
        future statute, law or regulation;

   (5)  any of Lessee's representations or warranties made herein or in any oral
        or written statement or certificate at any time given in writing
        pursuant hereto or in connection herewith shall be false or misleading
        in any material respect;

   (6)  Lessee defaults under any other agreement now existing or hereafter made
        with Lessor, or

   (7)  the breach or repudiation by any party thereto of any guaranty,
        subordination agreement or other agreement running in favor of Lessor
        obtained in connection with this Lease Agreement.

17.     Remedies
        Should any Event of Default occur, Lessor may, in order to protect its
interests and reasonably expected profits, with or without notice or demand upon
Lessee, retain any and all security deposits and pursue and enforce,
alternatively, successively and/or concurrently, any one or more of the
following remedies:

   (1)  recover from Lessee all accrued and unpaid Lease Charges and other
        amounts due and owing on the date of the default;

   (2)  recover from Lessee from time to time all Lease Charges and other
        amounts as and when becoming due hereunder;

   (3)  accelerate, cause to become immediately due and recover the present
        value of all Lease Charges and other amounts due and/or likely to become
        due hereunder from the date of the default to the end of the lease term
        using a discount rate of four (4%) percent;

   (4)  cause to become immediately due and payable and recover from Lessee the
        Casualty Loss Value of the Equipment which Lessee agrees is not a
        penalty but rather the fair measure of Lessor's loss in or damage to
        Lessor's interests in the Equipment and Lease caused by Lessee's default
        hereunder;

   (5)  terminate any or all of the Lessee's rights, but not its obligations,
        associated with the lease of Equipment under this Lease Agreement;

   (6)  retake (by Lessor, independent contractor, or by requiring Lessee to
        assemble and surrender the Equipment in accordance with the provisions
        of Section 7 hereinabove) possession of the Equipment without
        terminating the Lease Schedule or the Lease Agreement free from claims
        by Lessee which claims are hereby expressly waived by Lessee;

   (7)  require Lessee to deliver the Equipment to a location designated by
        Lessor;

   (8)  proceed by court action to enforce performance by Lessee of its
        obligations associated with any Lease Schedule and/or this Lease
        Agreement; and/or

   (9)  pursue any other remedy Lessor may otherwise have, at law, equity or
        under any statute, and recover damages and expenses (including
        reasonable attorneys' fees) incurred by Lessor by reason of the Event of
        Default.

        Upon repossession of the Equipment, Lessor shall have the right to
lease, sell or otherwise dispose of such Equipment in a commercially reasonable
manner, with or without notice, at a public or private sale. Lessor's pursuit
and enforcement of any one or more remedies shall not be deemed an election or
waiver by Lessor of any other remedy. Lessor shall not be obligated to sell or
re-lease
<PAGE>

the Equipment. Any sale or re-lease may be held at such place or places as are
selected by Lessor, with or without having the Equipment present. Any such sale
or re-lease, may be at wholesale or retail, in bulk or in parcels. Time and
exactitude of each of the terms and conditions of this Lease Agreement are
hereby declared to be of the essence. Lessor may accept past due payments in any
amount without modifying the terms of this Lease Agreement and without waiving
any rights of Lessor hereunder.

18.     Costs and Attorneys' Fees
        In the event of any default, claim, proceeding, including a bankruptcy
proceeding, arbitration, mediation, counter-claim, action (whether legal or
equitable), appeal or otherwise, whether initiated by Lessor or Lessee (or a
debtor-in-possession or bankruptcy trustee), which arises out of, under, or is
related in any way to this Lease Agreement, any Lease Schedule, or any other
document, agreement or instrument executed pursuant hereto or in connection
herewith, or any governmental examination or investigation of Lessee, which
requires Lessor's participation (individually and collectively, the "Claim"),
Lessee, in addition to all other sums which Lessee may be called upon to pay
under the provisions of this Lease Agreement, shall pay to Lessor, on demand,
all reasonable costs, expenses and fees paid or payable in connection with the
Claim, including, but not limited to, reasonable attorneys' fees and
out-of-pocket costs, including travel and related expenses incurred by Lessor or
its attorneys.

19.     Lessor's Performance Option
        Should Lessee fail to make any payment or to do any act as provided by
this Lease Agreement, then Lessor shall have the right (but not the obligation),
without notice to Lessee of its intention to do so and without releasing Lessee
from any obligation hereunder to make or to do the same, to make advances to
preserve the Equipment or Lessor's title thereto, and to pay, purchase, contest
or compromise any insurance premium, encumbrance, charge, tax, lien or other sum
which in the judgment of Lessor appears to affect the Equipment, and in
exercising any such rights, Lessor may incur any liability and expend whatever
amounts in its good faith discretion it may deem necessary therefor. All sums so
incurred or expended by Lessor shall be due and payable by Lessee within ten
(10) days of notice thereof.

20.     Quiet Possession and Inspection
        Lessor hereby covenants with Lessee that Lessee shall quietly possess
the Equipment subject to and in accordance with the provisions hereof so long as
Lessee is not in default pursuant to Section 16 hereunder; provided, however,
that Lessor or its designated agent may, at any and all reasonable times during
Lessee's business hours, enter Lessee's premises for the purposes of inspecting
the Equipment and the manner in which it is being used.

21.     Assignments
        This Lease Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns. Lessee, however,
shall not assign this Lease Agreement or sublet any of the Equipment without
first obtaining the prior written consent of Lessor and its assigns, if any.
Lessee acknowledges that the terms and conditions of this Lease Agreement have
been fixed in anticipation of the possible assignment of Lessor's rights under
this Lease Agreement and in and to the Equipment as collateral security to a
third party ("Assignee" herein) which will rely upon and be entitled to the
benefit of the provisions of this Lease Agreement. Lessee agrees with Lessor and
such Assignee to recognize in writing any such assignment within fifteen (15)
days after receipt of written notice thereof and to pay thereafter all sums due
to Lessor hereunder directly to such Assignee if directed by Lessor,
notwithstanding any defense, set-off or counterclaim whatsoever (whether arising
from a breach of this Lease Agreement or not) that Lessee may from time to time
have against Lessor. Upon such assignment, the Lessor shall remain obligated to
perform any obligations it may have under this Lease Agreement and the Assignee
shall (unless otherwise expressly agreed to in writing by the Assignee) have no
obligation to perform such obligations. Any such assignment shall be subject to
Lessee's rights to use and possess the Equipment so long as Lessee is not in
default hereunder.
<PAGE>

22.     Survival of Obligations
        All covenants, agreements, representations, and warranties contained in
this Lease Agreement, any Lease Schedule, or in any document attached thereto,
shall be for the benefit of Lessor and Lessee and their successors, any assignee
or secured party. Further, all covenants, agreements, representations, and
warranties contained in this Lease Agreement, any Lease Schedule, or in any
document attached thereto, shall survive the execution and delivery of this
Lease Agreement and the expiration or other termination of this Lease Agreement.

23.     Corporate Authority
        The parties hereto covenant and warrant that the persons executing this
Lease Agreement and each Lease Schedule on their behalf have been duty
authorized to do so, and this Lease Agreement and any Lease Schedule constitute
a valid and binding obligation of the parties hereto. The Lessee will, if
requested by Lessor, provide to Lessor, Certificates of Authority naming the
officers of the Lessee who have the authority to execute this Lease Agreement
and any Lease Schedules attached thereto

24.     Landlords' and Mortgagees' Waiver
        If requested, Lessee shall make reasonable efforts to furnish waivers or
subordinations, in form and substance reasonably satisfactory to Lessor, from
all landlords and mortgagees of any premises upon which any Equipment is
located.

25.     Miscellaneous
        This Lease Agreement, the Lease Schedule(s), attached riders and any
documents or instruments issued or executed pursuant hereto will have been made,
executed and delivered in, and shall be governed by the internal laws (as
opposed to conflicts of law provisions) and decisions of, the State of
Minnesota. Lessee and Lessor consent to the exclusive jurisdiction of any local,
state or federal court located within Minnesota. Venue must be in Minnesota and
Lessee hereby waives local venue and any objection relating to Minnesota being
an improper venue to conduct any proceeding relating to this Lease Agreement. At
Lessor's sole election and determination, Lessor may select an alternative
forum, including arbitration or mediation, to adjudicate any dispute arising out
of this Lease Agreement.
        This Lease Agreement was jointly drafted by the parties, and the parties
hereby agree that neither should be favored in the construction, interpretation
or application of any provision or any ambiguity. There are no unwritten or oral
agreements between the parties. This Lease Agreement and associated Lease
Schedule(s) constitute the entire understanding and agreement between Lessor and
Lessee with respect to the lease of the Equipment superseding all prior
agreements, understandings, negotiations, discussions, proposals,
representations, promises, commitments and offers between the parties, whether
oral or written. No provision of this Lease Agreement or any Lease Schedule
shall be deemed waived, amended, discharged or modified orally or by custom,
usage or course of conduct unless such waiver, amendment or modification is in
writing and signed by an officer of each of the parties hereto. If any one or
more of the provisions of this Lease Agreement or any Lease Schedule is for any
reason held invalid, illegal or unenforceable, the remaining provisions of this
Lease Agreement and any such Lease Schedule will be unimpaired, and the invalid,
illegal or unenforceable provisions shall be replaced by a mutually acceptable
valid, legal and enforceable provision that is closest to the original intention
of the parties Lessee agrees that neither the manufacturer, nor the supplier,
nor any of their salespersons, employees or agents are agents of Lessor
        Any notice provided for herein shall be in writing and sent by certified
or registered mail to the parties at the addresses stated on page 1 of this
Lease Agreement
        The Monthly Lease Charge is intended to be fixed from the Commencement
Date to the end of the term. The three year treasury rate is an integral part of
the lease rate. The Lessee and Lessor agree that the lease rate shall also be
fixed during the installation Period but should the three year treasury note
increase during such Installation Period, the lease rate will be adjusted on the
Commencement Date.
        Lessor is entitled to review a complete set of Lessee's publicly
available financial statements, including a statement of cash flows, balance
sheet and income statement, and any other financial
<PAGE>

information that Lessor may request or if Lessee is not publicly traded or
Lessee's financial statements are not otherwise available, then Lessee will
provide Lessor with Lessee's most recent audited and its most current financial
statements. If during the Installation Period the Lessee's financial condition
changes in any material respect (as determined by the Lessor in its sole
discretion), then Lessor shall be entitled to stop purchasing equipment to be
leased to Lessee and commence the applicable lease schedule(s).
        This Lease Agreement shall not become effective until delivered to
Lessor at its offices at Minnetonka, Minnesota and executed by Lessor. If this
Lease Agreement shall be executed by Lessor prior to being executed by Lessee,
it shall become void at Lessor's option five (5) days after the date of Lessor's
execution hereof, unless Lessor shall have received by such date a copy hereof
executed by a duly authorized representative of Lessee.
        This Lease Agreement is made subject to the terms and conditions
included herein and Lessee's acceptance is effective only to the extent that
such terms and conditions are consistent with the terms and conditions herein.
Any acceptance which contains terms and conditions which are in addition to or
inconsistent with the terms and conditions herein will be a counter-offer and
will not be binding unless agreed to in writing by Lessor.
        The terms used in this Lease Agreement, unless otherwise defined, shall
have the meanings ascribed to them in the Lease Schedule(s).

26.     REPOSSESSION
        LESSEE ACKNOWLEDGES THAT, PURSUANT TO SECTION 17 HEREOF, LESSOR HAS BEEN
GIVEN THE RIGHT TO REPOSSESS THE EQUIPMENT SHOULD LESSEE BECOME IN DEFAULT OF
ITS OBLIGATIONS HEREUNDER LESSEE HEREBY WAIVES THE RIGHT, IF ANY, TO REQUIRE
LESSOR TO GIVE LESSEE NOTICE AND A JUDICIAL HEARING PRIOR TO EXERCISING SUCH
RIGHT OF REPOSSESSION

27.     Net Lease
        This Lease Agreement is a net lease and Lessee's obligations to pay all
Lease Charges and other amounts payable hereunder shall be absolute and
unconditional and, except as expressly provided herein, shall not be subject to
any: (i) delay, abatement, reduction, defense, counterclaim, set-off, or
recoupment; (ii) discontinuance or termination of any license; (iii) Equipment
failure, defect or deficiency; (iv) damage to or destruction of the Equipment;
or (v) dissatisfaction with the Equipment or otherwise, including any present or
future claim against Lessor or the manufacturer, supplier, reseller or vendor of
the Equipment. To the extent that the Equipment includes intangible (or
intellectual) property, Lessee understands and agrees that: (i) Lessor is not a
party to and does not have any responsibility under any software license and/or
other agreement with respect to any software; and (ii) Lessee will be
responsible to pay all of the Lease Charges and perform all its other
obligations under this Lease Agreement despite any defect, deficiency, failure,
termination, dissatisfaction, damage or destruction of any software or software
license. Except as expressly provided herein, this Lease Agreement shall not
terminate for any reason, including any defect in the Equipment or Lessor's
title thereto or any destruction or loss of use of any item of Equipment.

28.     Headings

        Section headings herein are used for convenience only and shall not
otherwise affect the provisions of this Lease Agreement.
<PAGE>

IN WITNESS WHEREOF the parties hereto have caused this representative Lease
Agreement to be signed by their respective duly authorized representative.

Every Term is Agreed to and Accepted:   Every Term is Agreed to and Accepted:

WINTHROP RESOURCES CORPORATION          ALL AMERICAN SEMICONDUCTOR, INC.

By:/s/ RICHARD J. PIEPER                By:/s/ BRUCE M. GOLDBERG
   ---------------------------------    -----------------------------------

Print                                   Print
Name: RICHARD J. PIEPER                 Name: BRUCE M. GOLDBERG
      ------------------------------          -----------------------------

Title:                                  Title:  President & CEO
      ------------------------------          -----------------------------

Date: 8-02-04                           Date: 7-30-2004
     -------------------------------        -------------------------------Exhibit 10.23
                          INSTALLMENT PAYMENT AGREEMENT

 Customer:  All American
            Semiconductor, Inc.

  Address:  16115 NW 52nd Ave.      Software Documents:   Two (2) independent
            Miami, FL 33014                               Schedules each dated
                                                          June 30, 2004 to the
                                                          Software License and
                                                          Services Agreement
                                                          dated June 30, 2004.

  State of
Incorporation:   Delaware           IPA Effective Date:   July 28, 2004.

                                  Total Payment Amount: $1,083,875.00 (excludes
IPA Fee Category                  any taxes, which are payable directly to
                                  PeopleSoft)
                                  Payment Schedule:
License Fee:  $[*]
                                           $216,775.00 is due and payable on
                                           -----------
                                           January 1, 2005.
                                           ----------------

"Pre-paid Services"                        $216,775.00 is due and payable on
                                           -----------
                                           April 1, 2005.
                                           -------------

    Support:  $[*]                         $216,775.00 is due and payable on
                                           -----------
                                           July 1, 2005.
                                           ------------

   Training:  $[*]                         $216,775.00 is due and payable on
                                           -----------
                                           October 1, 2005.
                                           ---------------

                                           $216,775.00 is due and payable on
                                           -----------
                                           January 1, 2006.
                                           ----------------

  Total Fee:  $[*]             The Maturity Date of this IPA is January 1, 2006.

This Installment Payment Agreement ("IPA") is made as of the IPA Effective Date
above between the Customer named above ("Customer") and Siemens Financial
Services, Inc., with its principal place of business at 170 Wood Avenue South,
Iselin, NJ 08830 ("Payee") with respect to the following facts: Customer and
PeopleSoft USA, Inc. ("PeopleSoft") have entered into a Software License and
Services Agreement as of the date above ("License and Services Agreement") in
connection with the licensing of certain software products ("Licensed
Software"), services, and Pre-paid Services to Customer as specified on the
Schedule(s) referenced above ("Schedule" or "Schedules") and attached to the
License and Services Agreement. The License and Services Agreement, any Addenda,
Amendments, and Schedules attached thereto and specified above herein are
collectively referred to as the "Software Documents". Pursuant to the Software
Documents, Customer is obligated to pay PeopleSoft the Total Fee described above
("Total Fee"), plus all applicable taxes. Payee and Customer have agreed that
instead of Customer making the payments as described in the Software Documents,
Payee shall satisfy Customer's payment obligation of the fees payable to
PeopleSoft in connection with the Software Documents, and in consideration of
such payment, Customer shall make installment payments ("Payments") to Payee as
set forth in the above Payment Schedule ("Payment Schedule"). It is hereby
acknowledged that the sum of the Payments ("Total Payment Amount") may exceed
the amount PeopleSoft receives from Payee.

The parties agree to the following:

1. Promise to Pay. FOR VALUE RECEIVED, at the time and place, and in the manner,
provided below, Customer promises to pay to the order of Payee the Payments as
set forth in the above Payment Schedule. Upon a Payment Default (as defined in
Section S (i)), such overdue Payment shall bear interest at the rate of 12% per
annum (calculated on the basis of a 360-day year and actual days elapsed) until
paid. Customer acknowledges and agrees that Payee, at its sole discretion, upon
thirty (30) days prior written notice to Customer, may transfer or assign this
IPA to another entity or entities (other than to PeopleSoft) ("Assignee"), and
from and after the date to do so set forth in such notice, Customer will make
all Payments then due and unpaid and thereafter becoming due hereunder to said
Assignee.

2. Payments; Application of Credit. All Payments due hereunder are payable as
set forth herein. Notwithstanding any other provisions of this IPA, interest,
fees and the like shall not exceed the maximum rate permitted by applicable law.
The final Payment under this IPA shall be due and payable on the

* This confidential portion has been omitted and filed separately with the
Securities and Exchange Commission.
<PAGE>

Maturity Date as set forth herein. All applicable sales and/or use taxes shall
be paid directly to PeopleSoft. For purposes of this paragraph 2, the following
terms shall have the following meanings: (a) "Credit" shall mean an amount which
(i) is finally determined by a court of competent jurisdiction to be due

from PeopIeSoft to Customer on account of a breach or default by PeopleSoft
under the Software Documents, or (ii) is voluntarily agreed upon by PeopleSoft
as a credit to Customer in settlement of an alleged breach or default by
PeopIeSoft under the Software Documents, (b) "IPA Balance" shall mean the
present value of all remaining amounts due hereunder at the time a Credit is
issued, calculated using the interest rate implicit in the transaction
contemplated hereby. In the event Customer becomes entitled to a Credit, such
Credit shall (x) be remitted by PeopleSoft to Payee for application against, or
satisfaction of, the IPA Balance, and (y) to the extent it exceeds the IPA
Balance, be remitted by PeopleSoft to Customer. Any such Credit shall be applied
first to payment of any expenses or fees due Payee pursuant to paragraph 7 and
the balance shall be applied to payments due hereunder in inverse order of
maturity. The receipt by Payee of a Credit which is less than the IPA Balance
shall not relieve the Customer from the obligation of making the next scheduled
installments of payments due hereunder. The failure of PeopleSoft to remit any
Credit to Payee shall not excuse or otherwise affect Customer's obligations to
Payee hereunder.

3. Absolute Obligation. Customer agrees that it will not assert against Payee or
Assignee any claim or defense that it may have against PeopleSoft. The Customer
agrees its obligations to pay amounts due under this IPA to Payee or Assignee
are absolute and unconditional, non-refundable and non-cancelable, and are not
subject to any defenses, setoffs or counterclaims that it may have against
PeopleSoft, regardless of whether or not (i) the Licensed Software performs or
does not perform in accordance with the Software Documents (ii) PeopleSoft or
Customer has breached any of its warranties or other covenants under the
Software Documents, (iii) the licenses granted pursuant to the Software
Documents and/or any maintenance, support, Pre-paid Services or other services
provided thereunder have been revoked or otherwise terminated for any reason or
(iv) the License and Services Agreement has expired or been terminated for any
reason. Upon PeopleSoft's delivery of the Software to Customer, Customer accepts
such Software for the purposes of this IPA. Any other specific acceptance
criteria specified in the Software Documents shall be solely between Customer
and PeopleSoft, and shall in no way affect Customer's absolute obligations under
this IPA. In the event of any default by PeopleSoft under the Software
Documents, Customer's sole remedy shall be against PeopleSoft. CUSTOMER
ACKNOWLEDGES THAT PAYEE MAKES NO WARRANTIES, EXPRESS OR IMPLIED, CONCERNING THE
LICENSED SOFTWARE, SERVICES, OR PRE-PAID SERVICES COVERED BY THE SOFTWARE
DOCUMENTS, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF FITNESS FOR A
PARTICULAR PURPOSE OR OF MERCHANTABILITY. CUSTOMER HEREBY WAIVES ANY CLAIM
(INCLUDING ANY CLAIM BASED ON STRICT OR ABSOLUTE LIABILITY IN TORT) THAT IT MAY
HAVE AGAINST PAYEE FOR ANY LOSS DAMAGE (INCLUDING, WITHOUT LIMITATION, LOSS OF
PROFITS, LOSS OF DATA OR SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGE)
OR EXPENSE CAUSED BY THE LICENSED SOFTWARE OR ANY SERVICES OR PRE-PAID SERVICES
COVERED BY THE SOFTWARE DOCUMENTS, EVEN IF PAYEE HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGE, LOSS, EXPENSE OR COST. CUSTOMER ACKNOWLEDGES THAT
PAYEE DID NOT SELECT, MANUFACTURE, DISTRIBUTE OR LICENSE THE SOFTWARE OR PROVIDE
ANY SERVICES ASSOCIATED WITH PRE-PAID SERVICES COVERED BY THE SOFTWARE DOCUMENTS
AND THAT THE CUSTOMER HAS MADE THE SELECTION OF SUCH SOFTWARE BASED UPON ITS OWN
JUDGMENT AND EXPRESSLY DISCLAIMS ANY RELIANCE ON STATEMENTS MADE BY PAYEE OR ITS
AGENTS.

4. Representations, Warranties and Covenants. Customer represents, warrants and
covenants to Payee that (i) the Customer is a corporation in good standing under
applicable state law; (ii) this IPA is a legal, valid and binding obligation of
Customer and enforceable against Customer in accordance with its terms; (iii)
the execution, delivery and performance of the IPA will not violate or create a
default under any law (including any applicable usury law), regulation,
judgment, order, instrument, agreement or charter document binding on the
Customer's property; (iv) the IPA has been duly authorized, executed and
delivered by Customer; (v) each signatory on behalf of Customer of this IPA has
the authority to bind
<PAGE>

Customer to this IPA; (vi) any and all information furnished to Payee is and
will be true and correct and any financial statements furnished will be prepared
in accordance with generally accepted accounting principles (GAAP); (vii)
Customer shall comply with all applicable laws, regulations and orders relating
to this IPA; (viii) Customer shall pay when due all applicable fees, taxes and
governmental charges (including without limitation, interest and penalties) of
any nature imposed upon or relating to any item of Licensed Software, Pre-paid
Services or this IPA (other than income taxes) or shall be timely contesting
same; and (ix) Customer shall execute a Termination Rights Amendment to the
License and Services Agreement in the form as attached to this IPA. Any transfer
or assignment of Customer's obligations under this IPA shall require Payee's
prior written consent. A transfer shall include a change in majority ownership
or control of Customer. Customer agrees to promptly execute any ancillary
documents and take further actions as Payee may reasonably request, including,
but not limited to, assignment notifications and certificates of authorization.
Customer agrees to provide Payee copies of Customer's publically disclosed
balance sheet, income statement and other financial reports as Payee may
reasonably request. Customer agrees that the Software Documents will not be
altered, modified, changed or amended by Customer without Payee's prior written
consent.

5. Default. Each of the following events shall constitute a "Default" (i)
Customer fails to pay when due all or any portion of amounts payable hereunder,
and such failure is not cured within ten (10) days of Customer's receipt of
written notice thereof ("Payment Default"); (ii) any representation or warranty
made by Customer or any guarantor in this IPA proves to be false in any material
respect when made or Customer fails to perform any covenant contained in this
IPA and such breach of representation and warranty or covenant is not cured
within thirty (30) days of Customer's receipt of written notice of such breach;
(iii) Customer or any guarantor shall cease doing business as a going concern or
transfer all or a substantial part of its assets; or become or be adjudicated
insolvent or bankrupt, admit in writing its inability to pay its debts as they
become due, or Customer or any guarantor shall institute any bankruptcy,
insolvency, reorganization, dissolution, liquidation or any such proceeding is
instituted against Customer or any guarantor and is not dismissed within sixty
(60) days; (iv) any judgment, writ, warrant or attachment or execution of
similar process is issued or levied against a substantial part of Customer's
property in an amount in excess of $1,000,000, and is not adequately bonded off,
and remains unsatisfied for sixty (60) days, or (v) Customer's license to use
any Licensed Software or right to receive any services under the Software
Documents is canceled, terminated or suspended following default by Customer
under the Software Documents.

6. Remedies. Upon the occurrence of any Default, Customer agrees that Payee may
(a) declare the remaining Payments discounted at the rate implicit in this IPA
(including any overdue Payments), together with any accrued interest on overdue
Payments, immediately due and payable in full, without further notice, demand,
or protest; (b) solely upon the occurrence of a Payment Default, require
PeopleSoft to immediately terminate the Software Documents, revoke all Licensed
Software under such Software Documents and terminate the provision of all
services to Customer contemplated by such Software Documents and (c) exercise
all rights and remedies available to Payee under the terms of this IPA or any
other applicable laws or agreements. Upon written instruction from Payee given
to Customer after the occurrence of a Payment Default (other than as a result of
acceleration as a result of a default pursuant to Sections 5(a)(ii) through (iv)
of this IPA hereunder) by Customer, Customer agrees to immediately cease using
the Licensed Software, to deinstall and delete all copies of Licensed Software
from any computer systems owned or controlled by Customer or used for Customer's
benefit. Customer further agrees to provide a certificate signed by a Customer
officer who is responsible for Customer's information systems attesting to such
cessation of use and maintenance, deinstallation and deletion of Licensed
Software.

7. General. In addition to the rights and remedies set forth in this IPA, upon
the occurrence of Default by Customer, Payee may exercise any other rights and
remedies available at law or in equity to enforce the performance by Customer of
its obligations under this IPA or to recover damages for a breach hereof. No
delay or omission on the part of Payee in exercising any right hereunder shall
operate as a waiver of such right or of any other right under this IPA or under
any other document or instrument executed or delivered in connection with this
IPA. All notices, requests, demands and other communications shall be delivered
by fax or mail to each party at the address as set forth herein. This IPA will
be construed and enforced in accordance with and governed by, the laws of the
<PAGE>

State of New Jersey, without regard to conflict of law principles. CUSTOMER
WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION ARISING FROM OR RELATED TO
THIS IPA AND SUBMITS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED
IN THE STATE OF NEW JERSEY, IN ANY ACTION ARISING FROM OR RELATED TO THIS IPA.
This IPA constitutes the entire understanding between the parties either oral or
in writing with respect to the payment of the amounts owing hereunder and
supersedes all prior oral or written understandings. If any term, provision,
covenant or restriction of this IPA is held by a court of competent jurisdiction
to be invalid, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions of this IPA will remain in full force and effect and
in no way will be affected, impaired or invalidated. No term or provision of
this IPA may be amended, waived, discharged or terminated except by a written
instrument signed by Payee and Customer. All obligations of Customer under this
IPA shall survive any termination of the licenses relating to the Licensed
Software. The undersigned agree that, on demand of the other party, each shall
execute and deliver any instrument, furnish any information, or perform any
other act reasonably necessary or convenient to carry out the provisions of this
IPA. In addition to all other sums payable hereunder, Customer shall pay all
reasonable out-of-pocket expenses incurred by Payee, including fees and
disbursements of counsel, in connection with collection and/or other enforcement
proceedings resulting therefrom or in connection therewith. Customer agrees that
Payee or Assignee may treat executed faxes or photocopies delivered to Payee or
Assignee as original documents. Time is of the essence in the performance of
this IPA.

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

ALL AMERICAN SEMICONDUCTOR, INC.       SIEMENS FINANCIAL SERVICES, INC.

By: /s/ BRUCE M. GOLDBERG              /s/ KENNETH G. SULLIVAN
-----------------------------------    ----------------------------------------
Authorized Signature                   Authorized Signature

Bruce M. Goldberg as President & CEO   Vice President of Credit and Operations
------------------------------------   ----------------------------------------
Printed Name and Title                 Printed Name and Title

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