Document:

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EXHIBIT 10.1

                  2000 CONSULTATION SERVICES COMPENSATION PLAN
                            PROVIDENCE CAPITAL I, INC.

1.       PURPOSE OF THE PLAN.

    This Consultation Services Compensation Plan is intended to further the
growth and advance the best interest of NORTHBOROUGH HOLDINGS, Inc., a Colorado
corporation (the "Company"), by supporting and increasing the Company's
ability to attract, retain and compensate persons of experience and ability and
whose services are considered valuable, to encourage the sense of
proprietorship in such persons, and to stimulate the active interest of such
persons in the development and success of the Company.  This Plan provides for
stock compensation through the award of the Company's Common Stock, as a bonus
or in lieu of cash compensation for services rendered.

2.       DEFINITIONS.

     Whenever used in this Plan, except where the context might clearly
indicate otherwise, the following terms shall have the meanings set forth in
this section:

         a.       "Act" means the U.S. Securities Act of 1933, as amended.

         b.       "Affiliated Corporation" means any Parent or Subsidiary.

         c.       "Award" means any grant of Common Stock made under this Plan,
                   as a bonus, or in lieu of cash compensation for
                   services rendered.

         d.       "Board of Directors" means the Board of Directors of the
                   Company.

         e.       "Code" means the Internal Revenue Code of 1986, as amended.

         f.       "Common Stock" or "Common Shares" means the common stock,
                   no par value per share, of the Company, or in the event
                   that the outstanding Common Shares are hereafter changed
                   into or exchanged for different shares of securities of
                   the Company, such other shares or securities.

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         g.       "Date of Grant" means the day the Board of Directors
                   authorizes the grant of an Award or such later date as may
                   be specified by the Board of Directors as the date a
                   particular Award will become effective.

         h.       "Employee/Consultant" means any person or entity that
                   renders bona fide services to the Company, including,
                   without limitation, (i) a person employed by the Company
                   in any capacity; (ii) an officer or director of the
                   Company; or (iii) a person engaged by the Company as a
                   consultant or advisor.

         i.       "Participant" means an Employee or Consultant to whom an
                   Award of Plan Shares has been made.

         j.       "Plan Shares" means shares of Common Stock from time to time
                   subject to this Plan.

3.       EFFECTIVE DATE OF THE PLAN.

     The effective date of this Plan is November 24, 1999. No Plan Shares may
be issued after December 31, 2000.

4.       ADMINISTRATION OF THE PLAN.

     The Board of Directors will be responsible for the administration of
this Plan, and will negotiate compensation under this Plan.  Subject to the
express provisions of this Plan, the Board of Directors shall have full
authority and sole and absolute discretion to interpret this Plan, to prescribe,
amend and rescind rules and regulations relating to it, and to make all other
determinations which it believes to be necessary or advisable in administering
this Plan. The determination of those eligible to receive Plan Shares shall rest
in the sole discretion of the Board of Directors, subject to the provisions of
this Plan. The Board of Directors may correct any defect, supply any omission or
reconcile any inconsistency in this Plan in such manner and to such extent it
shall deem necessary to carry it into effect.  Any decision made, or action
taken, by the Board of Directors arising out of or in connection with the
interpretation and administration of the Plan shall be final and conclusive.
The Board of Directors may appoint a compensation committee from among the
members of the full Board of Directors to administer this Plan.

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5.       STOCK SUBJECT TO THE PLAN.

     The maximum number of Plan Shares as to which Awards may be granted
under this Plan is 2,105,000 shares.

6.       PERSONS ELIGIBLE TO RECEIVE AWARDS.

     Awards may be granted only to Employees or Consultants

7.       GRANTS OF AWARDS.

     Except as otherwise provided herein, the Board of Directors shall
have complete discretion to determine when and to which Employees Awards
are to be granted, and the number of Plan Shares to be Awarded to each
Employee/Consultant.  No grant will be made if, in the judgment of the Board
of Directors, such a grant would constitute a public distribution with the
meaning of the Act or the rules and regulations promulgated thereunder.

8.       DELIVERY OF STOCK CERTIFICATES.

     As promptly as practicable after authorizing the grant of an Award,
the Company shall deliver to the person who is the recipient of the award, a
certificate or certificates registered in that person's name, representing
the number of Plan Shares that were granted.  Unless the Plan Shares have been
registered under the Act, each certificate evidencing Plan Shares shall bear a
legend to indicate that such shares represented by the certificate were issued
in a transaction which was not registered under the Act, and may only be sold
or transferred in a transaction that is registered under the Act or is exempt
from the registration requirements of the Act.

9.       ASSIGNABILITY.

     No Award of Plan Shares may be assigned.  Plan Shares may be assigned
after such shares have been delivered, only in accordance with law and any
transfer restrictions imposed at the time of Award.

10.      EMPLOYMENT.

     Nothing in this Plan or in the grant of an Award shall confer upon
any Employee/Consultant the right to continue in the employ of the Company nor
shall it interfere with or restrict in any way the lawful rights of the
Company to discharge any Employee/Consultant at any time for any reason
whatsoever, with or without cause.

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11.      LAWS AND REGULATIONS.

     The obligation of the Company to sell and deliver Plan Shares on the
grant of an Award under this Plan shall be subject to the condition that the
Company be satisfied that the sale and delivery thereof will not violate the
Act or any other applicable laws, rules or regulations.

12.      WITHHOLDING OF TAXES.

     If subject to withholding tax, the Company may require that the Employee
concurrently pay to the Company the entire amount or a portion of any taxes
which the Company is required to withhold by reason of granting an Award, in
such amount as the Company in its discretion may determine.  In lieu of part
or all of any such payment, the Employee may elect to have the Company withhold
from the Plan Shares issued hereunder a sufficient  number of shares to satisfy
withholding obligations.  If the Company becomes required to pay withholding
taxes to any federal, state or other taxing authority as a result of the
granting of an Award, and the Employee fails to provide the Company with the
funds with which to pay that withholding tax, the Company may withhold up to
50% of each payment of salary or bonus to the Employee (which will be in
addition to any required or permitted  withholding),  until the Company has
been reimbursed for the entire withholding tax it was required to pay in
respect of issuance of any Plan Shares.

     If shares pursuant to the plan are issued to a consultant, not a regular
employee under the Internal Revenue Code, such shares shall not be delivered
until a W-2 is received and a Form 1099 shall be issued with delivery
of the shares.

13.      RESERVATION OF SHARES.

     The stock subject to this Plan shall, at all times, consist of authorized
but unissued shares of Common Stock reacquired or held by the Company equal
to the maximum number of shares the Company may be required to issue on the
grant of Awards under this Plan, and such number of Common Shares hereby is
reserved for such purpose.  The Board of Directors may decrease the number of
shares subject to this Plan, but not increase such number, except as a
consequence of a stock split or other reorganization or recapitalization
affecting all Common Shares.

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14.      AMENDMENT AND TERMINATION OF THE PLAN.

     The Board of Directors may suspend or terminate this Plan at any time
or from time to time, but no such action shall adversely affect the rights of
a person granted an Award under this Plan prior to that date. Otherwise, this
Plan shall terminate on the earlier of the terminal date stated in Section 3 of
this Plan or the date when all Plan Shares have been issued.  The Board of
Directors shall have absolute  discretion to amend this Plan, subject to any
limitations expressly set forth herein.

15.      DELIVERY OF PLAN.

     A copy of this Plan shall be delivered to all participants, together with
a copy of the resolution or resolutions of the Board of Directors authorizing
the granting of the Award and establishing the terms, if any of participation,
prior to an Award of Plan Shares.

16.      LIABILITY.

     No member of the Board of Directors, any committee of directors, or
officers, employees or agents of the Company shall be personally liable for
any action, omission or determination made in good faith in connection with this
Plan.

17.      MISCELLANEOUS PROVISIONS.

     The place of administration of the Plan shall be in the State of Colorado,
and the validity, construction, interpretation and effect of this Plan and of
its rules, regulations and rights relating to it, shall be determined solely in
accordance with the laws of such state.

     Without amending this Plan, the Board of Directors may issue Plan Shares
to employees of the Company who are foreign nationals or employed outside
the United States, or both, on such terms and conditions different form those
specified in this Plan but consistent with the purpose of this Plan, as it deems
necessary and desirable to create equitable opportunities given differences in
tax laws in other countries.

     All expenses of administering this Plan and issuing Plan Shares shall
be borne by the Company.

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     By signature below, the undersigned officers of the Company hereby
certify that the foregoing is a true and correct copy of the 2000 Consultation
Services Compensation Plan of the Company.

Dated: May 25, 2000

NORTHBOROUGH HOLDINGS, INC.

/s/ Scott B. Adams

By:--------------------
   SCOTT B. ADAMS,
   Vice PresidentExhibit 10.1

                  EMPLOYMENT LETTER BETWEEN THE REGISTRANT AND

                  BERNARD C. FAULKNER, DATED FEBRUARY 4, 2000

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February 4, 2000

Mr. Bernard Faulkner
3914 Charmal Place
Charlotte, NC 28226

Dear Bernie:

Thank you for your  comprehensive  analysis of Hurco's offer of  employment  and
your relocation plan.

The  following  offer of  employment,  including  compensation,  explanation  of
benefits and relocation  reimbursement  plan  supercedes my previous offer dated
January 31, 2000, and has taken into  consideration  both your proposals and the
needs of Hurco.

Position and Responsibilities:

o        President of Hurco's North American operations.

o        Assume effective date of March 1, 2000.

o        The responsibilities include direct management of Autocon Technologies,
         Inc., Hurco Machine Tool Products and Hurco Metal Fabrication  Products
         effective March 1, 2000, in lieu of a phased-in  transition,  which was
         discussed in our previous offer.

Compensation:

o        Base salary $150,000 annually.

o        Annual compensation and performance review January 2001.

o        Executive Bonus Plan - The Company's Bonus Plan is November 1, 1999 to
         October 31, 2000, our fiscal year.

o        Annual bonus potential - $50,000.

o        Thirty  percent of your bonus is based on  performance  compared
         to  specific personal objectives.

o        Thirty  percent of your bonus is based on  performance  compared  to
         Division Operating Profit Business Plans.

o        Forty  percent of your bonus is based on the  Corporation's
         performance  when compared to the annual Corporate Financial Plan.

o        You would have 8 months to affect the Fiscal 2000 Plan.  Your Fiscal
         2000 bonus potential assuming a March 1, 2000 start
         date:  8/12 of $50,000 = $33,328.

o        In  consideration  of  product  training,   organization  analysis  and
         immediate management responsibility of all three Divisions, the Company
         would  guarantee  $16,000 of a  potential  $33,328  bonus.  The $16,000
         guarantee,  and any  additional  bonus  earned,  would  be paid  during
         January 2001.
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o        Specific personal, division and corporate financial objectives would be
         prepared  and  agreed  upon  with  you  during  the  first  30  days of
         employment.

o        Stock  options:  25,000  options  subject to grant by the  Compensation
         Committee and in accordance  with the Company's 1997 Stock Option Plan.
         The option price will be the market price of the Company's stock at the
         date of grant.

o        You are eligible to  participate in the Executive  Management  Deferred
         Compensation Plan. An outline of the Plan is attached.

o        The Company's  401(k) Plan  contributes  $.50 for each employee  dollar
         invested,  up to the maximum  allowed by law and in accordance with the
         formula outlined in the Benefits Plan previously sent to you.

o        Automobile:  The  Company  agrees  to pay  for  the  remainder  of your
         existing car lease and insurance up to a maximum of $8,400 per annum or
         $700 per month,  or until the automobile is out of warranty,  whichever
         comes first.

Social or Country Club:

o        The Company will pay up to $200.00 per month dues and in addition,
         would pay normal expenses associated with the business
         use of the club.

Vacation:

o        Three weeks vacation would be available during year 2000.

Split Dollar Life Insurance:

o        You are  eligible to  participate  in the  executive  split dollar life
         insurance  program in accordance  with the split dollar  insurance plan
         attached.

Health Coverage:

o        The health plan, which you previously  received,  is supplemented by an
         S125 Medical  Reimbursement  Plan that permits $3,900  tax-deferred per
         year for  ineligible  medical or dental  expenses.  Orthodontia  is not
         covered by the health plan and  therefore  the S125 Plan could be used.
         The Company  would pay your COBRA costs for health  insurance  prior to
         your eligibility under Hurco's health plan.

Relocation Plan:

o        Reimbursable  expenses:  The Company has  modified the  relocation
         policy in consideration of your special circumstances.

o        Assumption - the family relocates by June 30, 2000.

o        The Company will reimburse you the following  expenses in accordance
         with the terms in the following paragraphs.
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o        Temporary  housing  expenses during the period of March 1, 2000 to June
         30, 2000.  This  includes  payment of monthly rent,  utilities,  rented
         furniture, telephone,  one-bedroom apartment up to $1,600 per month for
         four months.

o        Travel expenses  between  Charlotte and  Indianapolis  March 1, 2000 to
         June 30,  2000:  Advance  ticket  purchases  should be made in order to
         minimize  cost.  Assume 6 trips  (every two  weeks) and assume  between
         family cars and company leased vehicles, a rental car expense would not
         be required. Some trips could be tied in with sales calls to the area.

o        Travel expenses for your family while house hunting:  Reasonable travel
         (advance  tickets,  economy)  and lodging and meal  expenses  for up to
         three house-hunting  trips (for a maximum total 10 days,  including one
         trip with the children. Assume the rented apartment would cover lodging
         expenses other than the children's trip.

o        Temporary housing expense for the family in Indianapolis,  assuming the
         relocation to Indianapolis occurs in advance of the availability of the
         Indianapolis  residence:  The Company  would assume the  month-to-month
         costs up to a maximum of three months and for rental of  apartment  and
         furniture and utilities or the equivalent  hotel costs. The employee is
         responsible for meals.

o        The Company  will pay  reasonable  expenses  for travel and lodging and
         meals for your family during the relocation trip to the new location.

Moving Expenses:

o        The Company will reimburse all reasonable  expenses associated with the
         shipping of household  furnishings  and personal  property,  as well as
         shipper's  charges for  shipping  containers,  packing  and  unpacking,
         insurance and  reasonable  fees for storage up to 60 days.  Any unusual
         moving and  installation/set-up  expenses relating to personal property
         such as boats,  recreational vehicles,  aircraft,  livestock, etc. will
         not be reimbursed by the Company.

Sale of Principal Residence:

o        The Company will  reimburse the employee all  reasonable  and customary
         expenses  connected with the sale of employee's home, such as brokerage
         and legal fees  customary  in the area,  tax  stamps,  recording  fees,
         appraisal costs,  advertising  expense. In the event that you sell your
         own home, without the use of a realtor, the Company will pay a bonus of
         50.0  percent of the  customary  real  estate fee to the  employee as a
         bonus for selling the home without real estate agent fees. The employee
         and the  Company  must  agree on the range of asking  price,  marketing
         plans and period of time this personal sales plan would continue.

Incidental Expenses:

o        To compensate for incidental and out-of-pocket  expenses, not expressly
         reimbursed  under this  policy,  the  Company  will pay $6,000 for such
         incidental expenses related to the relocation.
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Accounting Treatment of Relocation Expenses:

o        After  filing your 2000 tax returns in 2001,  Hurco's tax manager  will
         calculate  what your  Federal,  State and Local taxes  payable for 2000
         would have been exclusive of the relocation  costs included in adjusted
         gross  income and the  related  deductible  moving  expenses.  Both the
         "with" and "without" calculations of taxes payable will exclude capital
         gains/losses  and  any  significant   non-recurring   income,  such  as
         severance pay from your prior employer received after being employed by
         Hurco. The incremental  income taxes paid as a result of the relocation
         expenses will be "grossed up" based on an effective Federal,  State and
         Local  tax rate of 34%.  Example:  If the  incremental  taxes  paid are
         $10,000, the reimbursement will be $10,000 / (1-34%) equals $15,151.

Employment Termination Agreement:

o        In the event Hurco terminates your employment as President,  of Hurco's
         North  American  operations,  Hurco  shall pay you twelve  (12)  months
         severance,  at the then present base salary rate, from the date you are
         relieved  of your  responsibilities  which  would be  thirty  (30) days
         following  written notice.  Health and life insurance  benefits will be
         maintained  during the twelve-month  severance period or until you have
         obtained alternate  employment,  if earlier.  The Corporation will also
         provide you with the services of a professional outplacement firm.

o        In the event you resign prior to the  termination  of your  employment,
         Hurco will not be obligated to continue  making salary  payments  after
         your last day of employment.

o        If you resign during the first year of employment,  you will repay the
         Company the total relocation expenses.

Carrying Costs of Prior Home:

o        The Company policy will not pay for the costs of the prior home if the
         purchase of the new home occurs prior to closing the sale of the prior
         home.

Accommodations:

o        The  Company's  policy does not include the provision for a bridge loan
         assuming the new house is  purchased  prior to the sale of the existing
         home.

Expenses Associated with the Purchase of a New Home:

o        The Company policy does not reimburse the employee for expenses on the
         purchase of a new home

Cost of Living:

o        Attached  is  a  cost  of  living  comparison   between  Charlotte  and
         Indianapolis. Please note the 4.65% net benefit for sales/income tax by
         moving to Indianapolis. This represents approximately $7,000 savings on
         $150,000 annual income.
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Bernie,  I believe  this  revised  offer  provides  compensation,  benefits  and
relocation plan which is commensurate with the  responsibilities  and relocation
timetable.  I am hopeful you accept this offer as I look forward to working with
you  again.  Please  call me if you  have  questions.  I would  appreciate  your
acceptance by signing this acknowledgement by February 7, 2000.

Sincerely,

/s/ Brian D. McLaughlin
Brian D. McLaughlin
President and CEO

Acknowledged and accepted,

/s/ Bernard Faulkner                                 February 8, 2000
Bernard Faulkner                                     Date

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