Document:

Exhibit 10.1

    
      

    

     

    
      		
              LaPolla
                Industries, Inc.

              Intercontinental
                Business Park

              15402
                Vantage Parkway East, Suite 322

              Houston,
                Texas 77032

            

    

    

     

     

    February
      1, 2006

    

    John
      G.
      Campbell

    

    Re:        
      Employment

    

    Dear
      John:

    

    We
      are
      pleased to offer, pursuant to the following terms and conditions, employment
      to
      you:

    

    1.    Position;
      Duties and Responsibilities.
      Your
      position will be Chief Financial Officer and Corporate Treasurer. You will
      have
      the duties and responsibilities usually vested in such capacity, and such other
      duties and responsibilities as may be assigned to you from time to time by
      us.
      You will report directly to the CEO.

    

    2.    Effective
      Date.
      Your
      employment in the capacities described in paragraph 1 above will be effective
      February 1, 2006.

    

    3.    Annual
      Base Salary.
      You
      will receive an annual base salary of $80,000, which will be reviewed on a
      monthly basis for ninety days and an annual basis thereafter from your Effective
      Date. You will be paid semi-monthly in accordance with our regular payroll
      practices. Notwithstanding the foregoing, your Annual Base Salary will
      automatically increase by $10,000 if, by your first employment anniversary
      date,
      you obtain your CPA license.

    

    4.    Insurance.
      You and
      your immediate family will be provided, at no cost to you, health and dental
      insurance coverage.

    

    5.    Vacation.
      You
      will be entitled to two weeks vacation per year.

    

    6.    Bonus.
      You
      will be entitled to $5,000 cash bonus on December 31, 2006 and eligible for
      year
      end bonus consideration as and if bonuses are paid to other executives
      thereafter.

    

    7.    Other
      Benefits.
      You
      will be entitled to participate in and any and all other plans as they may
      exist
      from time to time offered by us to our executives, including savings, pension,
      profit-sharing, and 401K plans, subject to the general eligibility and
      participation provisions set forth in such plans.

    

    8.    Devotion.
      You
      will serve us and devote all of your business time, your best efforts and all
      your skill and ability in the performance of your duties hereunder. You will
      carry out your duties in a competent and professional manner and generally
      promote the best interests of our business and its customers. You shall not,
      in
      any capacity engage in any activity which is, or may be, contrary to the
      welfare, interest or benefit of the business now or hereafter conducted by
      us.

    

    9.    Non-Disclosure.
      You
      will not at any time during your employment or thereafter divulge, communicate,
      or use in any way, any Confidential Information (as hereinafter defined)
      pertaining to our business. Any Confidential Information or data now or
      hereafter acquired by you with respect to our business (which shall include,
      but
      not be limited to information concerning our financial condition, prospects,
      technology, customers, suppliers, sources of leads and methods of doing
      business) shall be deemed a valuable, special and unique asset of ours that
      is
      received by you in confidence and as a fiduciary, and you shall remain a
      fiduciary to us with respect to all of such information. For purposes hereof,
      the term “Confidential Information” includes, but is not limited to, information
      disclosed to you or known by you as a consequence of or through your employment
      by us (including information conceived, originated, discovered or developed
      by
      you) prior to or after the date hereof, and not generally known, about us or
      our
      business.

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    10.   Books
      and Records.
      All
      books, records, and accounts relating in any manner to us (i.e., financial
      information, customer, supplier, vendor identity, etc.), whether prepared by
      you
      or otherwise coming into your possession, shall be our exclusive property and
      shall be returned immediately to us on termination of your employment hereunder
      or otherwise on our request at any time.

    

    11.   Termination
      for Cause.
      We may
      terminate your employment for “Cause,” at any time, for any of the following
      reasons: (i) your commission of any act of fraud, embezzlement or dishonesty,
      (ii) your unauthorized use or disclosure of any confidential information or
      trade secrets of the Company, (iii) any intentional misconduct or violation
      of
      the Company’s Code of Business Ethics and Conduct by you which has a materially
      adverse effect upon our business or reputation, (iv) your continued failure
      to
      perform the major duties, functions and responsibilities of your position after
      written notice from us identifying the deficiencies in your performance and
      a
      reasonable cure period of not less than thirty (30) days or (v) a material
      breach of your fiduciary duties as our employee.

    

    12.   Notices.
      All
      notices required or permitted to be given hereunder shall be in writing and
      shall be personally delivered by courier, sent by registered or certified mail,
      return receipt requested or sent by confirmed facsimile transmission addressed
      as set forth herein. Notices personally delivered, sent by facsimile or sent
      by
      overnight courier shall be deemed given on the date of delivery and notices
      mailed in accordance with the foregoing shall be deemed given upon the earlier
      of receipt by the addressee, as evidenced by the return receipt thereof, or
      three (3) days after deposit in the U.S. mail. Notice shall be sent (i) if
      to
      Company, addressed to Michael T. Adams, CEO, at Intercontinental Business Park,
      15402 Vantage Parkway East, Suite 322, Houston, Texas 77032 and (ii) if to
      you,
      to your address as reflected on our payroll records, or to such other address
      as
      either party hereto may from time to time give notice of to the
      other.

    

    Please
      acknowledge your agreement with the foregoing by signing the Acceptance section
      below and returning it to us.

    

    
      	 	 	 	 	
              Very
                truly yours,

            
	 	 	 	 	 	 
	 	 	 	 	
              LAPOLLA
                INDUSTRIES, INC.

            
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	
              By:

            	
              /s/
                Michael T. Adams, CEO

            	 
	 	
              Kelly
                D. Meekins

            	 	
              Name:

            	
              Michael
                T. Adams

            	 
	 	
              Witness

            	 	
              Title:

            	
              CEO

            	 

    

    

    ACCEPTANCE

    

    I
      hereby
      agree to all of the foregoing terms and conditions as of the date
      above.

    

     

    

    
      	 	
              Veronique
                Glasper

            	 	
              By:

            	
              /s/
                John G. Campbell

            	 
	 	
              Witness

            	 	
              Name:

            	
              John
                G. Campbell

            	 

    

     

     

    2FIRST AMENDMENT TO OFFICE BUILDING LEASE AGREEMENT

                                    RECITALS

      A.    HEALTHRENU MEDICAL, INC. ("Tenant") and DENMARK HOUSE INVESTMENT,
            LTD., a Texas limited partnership, ("Landlord"), entered into that
            certain Lease Agreement effective as of the 30th day of June 2004
            ("Lease"), in regard to the leasing of that certain space containing
            approximately 1,692 square feet, (the "Premises") at the office
            building located at 12777 Jones, Houston, TX 77070 (the "Project").

      B.    Tenant and Landlord desire to amend certain provisions of the Lease,
            effective as of the 1st day of January 2006;

NOW THEREFORE, for good, valuable and sufficient consideration received,
Landlord and Tenant hereby agree as follows:

                                    AGREEMENT

      1.    On the Effective Date, the term of the Lease shall be modified to
            expire on the 31st day of January 2009.

      2.    On the Effective Date, the Leased Premises shall be increased by 786
            non-contiguous square feet of Net Rentable Area ("Increased Lease
            Premises"), as outlined on the attached Exhibit "A-1".

      3.    Upon execution of this agreement, Tenant shall deposit with Landlord
            the sum of One Thousand Eighty and 75/100 Dollars ($1,080.75) as
            additional deposit ("Security Deposit") associated with the
            Increased Lease Premises.

      4.    On the Effective Date, the Base Rent shall increase to Three
            Thousand One Hundred Ninety-Five and 75/100 Dollars ($3,195.75) per
            month through the 31st day of January 2006. Effective the 1st day of
            February 2006, the Base Rent shall increase to Three Thousand Four
            Hundred Seven and 25/100 Dollars ($3,407.25) per month through the
            31st day of January 2007. Effective the 1st day of February 2007,
            the Base Rent shall increase to Three Thousand Five Hundred Ten and
            50/100 Dollars ($3,510.50) per month through the 31st day of January
            2008. Effective the 1st day of February 2008, the Base Rent shall
            increase to Three Thousand Six Hundred Thirteen and 75/100 Dollars
            ($3,613.75) per month through the 31st day January 2009.

      5.    Landlord and Tenant agree to incorporate herein by this reference,
            the following Sections which were intentionally stricken from the
            Lease: Section 5.02 Additional Rent, Section 5.05 Payment of
            Additional Rent (a) and (b), Section 5.06 Gross Up, Section 5.07
            Right to Audit or Inspect and Section 12.03 Casualty During the Last
            Two Years. These Sections pertain to the Premises and the Increased
            Lease Premises where applicable. These Sections are defined on the
            attached Exibit "D".

      6.    Landlord agrees to furnish and install Building Standard Leasehold
            Improvements within the Premises and the Increased Lease Premises
            collectively, at an allowance not to exceed $2.10 per rentable

<PAGE>

            square foot. Leasehold Improvements shall be based upon plans and
            specifications approved by Landlord and Tenant and preliminary
            remodel proposals presented by Ray Scaggs Construction Company dated
            November 1, 2005 and Prime Flooring Building Systems, Inc. dated
            October 27, 2005. Additionally, the sink and faucet will be replaced
            and an interior passage set will be replaced with a lockset within
            the Premises. The locks on the entry door to the Increased Lease
            Premises will be keyed to match the Premises and a name plaque and
            directory strip will be provided. Except as set forth above,
            Landlord shall have no further obligation to make any further
            Leasehold Improvements or bear any costs associated with Leasehold
            Improvements.

      7.    Tenant, upon paying the rent herein reserved and performing all the
            terms, covenants and conditions herein contained on its part to be
            kept and performed, shall be granted a right to renew and extend
            this agreement (the "Renewal Option") for one (1), three (3) year
            period following the expiration of this Amendment to Office Lease
            Agreement. Tenant shall be required to provide Landlord with six (6)
            months prior written notice and shall not have the right to exercise
            the Renewal Option at a time when Tenant is in default under the
            Lease. Tenant's failure to timely exercise the Renewal Option, for
            any reason whatsoever, shall conclusively be deemed a waiver of such
            Renewal Option. Tenant and Landlord agree that the annual Base Rent
            for the Renewal Option Term shall be at the prevailing market rate
            for similar space at Denmark House at the time Tenant exercises the
            option. Tenant shall take the Premises and the Increased Lease
            Premises "as is" for the Renewal Term and Landlord shall have no
            obligation to make any improvements or alterations to the Premises
            or the Increased Lease Premises. Except as set forth in this
            agreement, the leasing of the Premises and the Increased Lease
            Premises for the Renewal Term shall be upon the same terms,
            covenants and conditions as set forth herein. Any modifications
            and/or additions as may be mutually agreed upon by both parties
            shall be in writing and approved by Tenant and Landlord.

Except as expressly amended herein, the Lease shall control the terms and
provisions pertaining to the Lease and no modifications, changes or amendments
in regard to the Lease other than expressly provided for herein are intended.

Dated as of the 17th day of November 2005

TENANT:         HEALTHRENU MEDICAL, INC.

                ----------------------------
                Robert W Prokos,  President

LANDLORD:       DENMARK HOUSE INVESTMENT, LTD.
                A Texas limited partnership

            By: Denmark House Management LLC.
                a Texas limited liability company

                ---------------------------
                Mark Winkleman, Manager

<PAGE>

                                   EXHIBIT "D"

Section 5.02 Additional Rent. Tenant agrees to pay, as "Additional Rent",
"Tenant's Share" as determined by dividing the Net Rentable Area of the Premises
by the Net Rentable Area of the Building (and which is stipulated, unless the
Premises or the Building are increased or decreased, to be 2.0756%) of any
increase in the Operating Costs, as defined in Section 5.03 Determination of
Operating Costs, of the Project for the calendar year 2006.

Section 5.03 Payment of Additional Rent (a) Prior to the Commencement Date and
(b) for each calendar year during the Term following that in which the
Commencement Date occurs, prior to January 1 of each such year, Landlord shall
provide Tenant with a projection of Tenant's Share of the Operating Costs for
the ensuing year, and Tenant shall thereafter pay on the first day of each month
during such year, as Additional Rent, without demand, set-off or counterclaim,
one-twelfth of Tenant's Shares of the projected increase of Operating Costs over
the Operating Costs for the Base Year. On or before June 1 of each year during
the Term, Landlord shall provide Tenant with a statement of the prior year's
actual Operating Costs showing the calculated increase in the Operating Costs
over the Base Year and Tenant's Share thereof. If Tenant's Share of the increase
of Operating Costs over the Base Year Operating Costs is more than that paid by
Tenant during the prior calendar year as Additional Rent, Tenant shall pay
Landlord, within thirty (30) days of the statement receipt, the difference. If
Tenant paid more as Additional Rent during the prior calendar year than Tenant's
Share of the actual Operating Cost for the year in which the Lease expires or is
otherwise terminated shall be prorated through the date of such expiration or
termination. The obligations of the Landlord or Tenant to pay the adjustment for
actual Operating Cost shall survive such expiration or termination.

Section 5.06 Gross Up Operating Costs for any calendar year during which actual
occupancy of the Project is less than 95% of the Rentable Area of the Project,
shall be appropriately adjusted to reflect 95% occupancy of the existing
Rentable Area of the Project during such period. In determining Operating Costs,
if any service or utilities are separately charged to tenants of the Project or
others, Operating Costs shall be adjusted by Landlord to reflect the amount of
expense which would have been incurred for such services or utilities on a full
time basis for normal Project operating hours. In the event (i) the Commencement
Date shall be a date other than January 1, (ii) the date fixed or the expiration
of the term shall be a date other than December 31, (iii) of any early
termination of this Lease, or (iv) of any increase or decrease in the size of
the Premises, then in each such event, an appropriate adjustment in the
application of this Section 5.06 shall, subject to the provisions of this Lease,
be made to reflect such event on a basis determined by Landlord to be consistent
with the principles underlying the provisions of this Section 5.06.

<PAGE>

Section 5.07 Right to Audit or Inspect Tenant, at its expense, shall have the
right at all reasonable times to audit or inspect Landlord's books and records
relating to this Lease for any year, upon thirty (30) business days' written
notice to Landlord. Such inspection or audit shall take place where the books
and records of Landlord for the Project are kept. Said records shall be kept at
the Building Management office located at 12777 Jones Road, Houston, Texas.

Section 12.03 Casualty During Last Two Lease Years If the Building, the Parking
Lot, the Premises, or Leasehold Improvements installed by Landlord as part of
Landlord's Work are substantially destroyed by fire or other cause at any time
during the last two (2) years of the Term, either the Landlord or Tenant may
terminate this Lease upon written notice to the other given within (60) days of
the date of such destruction, effective as of the date of the casualty. Tenant
shall vacate the Premises on or before the date occurring thirty days from the
date the termination notice by either Landlord or Tenant is given to the other.

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