Document:

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                                                       Exhibit 10.12

                       Dated the 4th day of SEPTEMBER 2002

(1)      Landlord:    SENAN BOLAND AND MARIE BOLAND

(2)      Tenant:      CELERITY FLUID SYSTEMS IRELAND LIMITED

                                      LEASE

                                      -OF-

              UNIT B14 IDA BUSINESS PARK BALLYCOOLIN COUNTY DUBLIN

Term Commences:       1st day of September 2002

Length of Term:       25 years

Rent Reviews:         Every Five Years

                    Initial Rent: E244,710.00 p.a. exclusive
                     (subject to review as herein provided)

                            GERRARD SCALLAN & O'BRIEN
                                   Solicitors
                            69/71 St. Stephen's Green
                                    Dublin 2

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                                    CONTENTS

<TABLE>
<CAPTION>
                                                        Page
<S>                                                     <C>
1.        DEFINITIONS                                     5
2.        INTERPRETATION                                  6
3.        DEMISE AND RENTS                                7
4.        TENANTS COVENANTS                               8
4.1       Rents                                           8
4.2       Interest on arrears                             8
4.3       Service Charge                                  9
4.4       Outgoings                                       9
4.5       Repairs                                         9
4.6       External Decorations                           10
4.7       Internal Decorations                           10
4.8       Cleaning                                       10
4.9       Yield Up                                       10
4.10      Rights of entry by Landlord                    11
4.11      To Comply with Notices                         11
4.12      Dangerous materials and use of machinery       11
4.13      Overloading floors and services                12
4.14      Conduits                                       12
4.15      Disposal of refuse                             12
4.16      Obstruction of Common Parts                    12
4.17      Prohibited users                               12
4.18      User                                           13
4.19      Nuisance                                       13
4.20      Alterations                                    13
4.21      Signs and advertisements                       14
4.22      Alienation                                     15
4.23      Registration of dispositions                   17
4.24      Disclosure of information                      17
4.25      Landlord's costs                               17
4.26      Statutory requirements                         18
4.27      Planning Acts Building Control Act             18
4.28      Statutory notices                              19
4.29      Fire and safety precautions and equipment      20
4.30      Encroachments and easements                    20
4.31      Reletting notices                              20
4.32      Indemnity                                      21
4.33      Stamp Duty and Value Added Tax                 21
4.34      Covenants affecting Reversion                  21
4.35      Tenants Improvements                           21
5.        LANDLORD'S COVENANTS                           22
5.1       Quiet Enjoyment                                22
6.        INSURANCE                                      23
6.1       Landlord to insure                             23
6.2       Landlord to produce evidence of insurance      23
</TABLE>

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<TABLE>
<S>                                                     <C>
6.3       Destruction of the Demised Premises            24
6.4       Where reinstatement is prevented               25
6.5       Cesser of Rent                                 25
6.6       Superior Lease and Management Deed             25
6.7       Insurance becoming void                        26
6.8       Notice by Tenant                               26
7.        PROVISOS                                       26
7.1       Forfeiture                                     26
7.2       No implied easements                           27
7.3       Exclusion of Warranty as to User               27
7.4       Representations                                27
7.5       Covenants relating to Adjoining Property       27
7.6       Effect of Waiver                               27
7.7       Applicable law                                 29
7.8       Option to Determine                            29
7.9       Notices                                        30
8.        SECTION 45 LAND ACT 1965                       30
9.        FINANCE ACT CERTIFICATES                       31
10.       SECTION 29 COMPANIES ACT 1990                  31
11.       ASSENT                                         31
12.       TENANT'S ADDRESS AND DESCRIPTION               31
FIRST SCHEDULE-      Demised Premises                    32
SECOND SCHEDULE-     Rights and Easements Granted        32
THIRD SCHEDULE-      Exceptions and Reservations         32
FOURTH SCHEDULE-     Rent Reviews                        34
FIFTH SCHEDULE-      Tenant Improvements                 35
SIXTH SCHEDULE -     Special Landlord Contributions      38
</TABLE>

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                                  LAND REGISTRY

                  COUNTY DUBLIN                          FOLIO

                  THIS LEASE is made the 4th day of SEPTEMBER 2002 BETWEEN

                  (1)      LANDLORD: SENAN BOLAND AND MARIE BOLAND of 1
                           Greenane, Dunshaughlin, Co. Meath.

                  (2)      TENANT: CELERITY FLUID SYSTEMS IRELAND LIMITED having
                           its registered office at 89B Lagan Road, Dublin
                           Industrial Estate, Glasnevin, Dublin 11.

WITNESSETH as follows:-

1.       DEFINITIONS

         IN this Lease unless the context otherwise requires the following
         expressions shall have the following meanings:-

         1.1      "ADJOINING PROPERTY" means any land and/or buildings adjoining
                  or neighbouring the Demised Premises;

         1.2      "BASE RATE" means annual rate of interest for the time being
                  chargeable under Section 22 of the Courts Act 1981;

         1.3      "BUILDING CONTROL ACT" means the Building Control Act 1990;

         1.4      "COMMON AREAS" has the meaning ascribed thereto in the
                  Superior Lease.

         1.5      "CONDUITS" mean each of the following of whatsoever nature:-

                  all sewers drains pipes gullies gutters ducts mains
                  watercourses channels subways wires cables conduits flues and
                  other transmission or conducting media and installations of
                  whatsoever nature or kind;

         1.6      "DEMISED PREMISES" means the premises demised by this Lease
                  and more particularly described in the First Schedule hereto.

         1.7      "THE ESTATE" has the meaning ascribed thereto in the Superior
                  Lease.

         1.9      "INITIAL RENT" means E244,710 per annum determined on the
                  basis of E9/SF/Annum.

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         1.10     "INSURED RISKS" mean subject always to such exclusions
                  excesses and limitations as are normally available and as may
                  be imposed by the Landlord's insurers for the time being in
                  respect of any or all of the following risks;

                  fire storm tempest flood earthquake subsidence lightning
                  explosion impact aircraft and other aerial devices and
                  articles dropped therefrom riot civil commotion and malicious
                  damage bursting or overflowing of water tanks apparatus or
                  pipes three years loss of rent and such other risks as the
                  Landlord acting in accordance with the principles of good
                  estate management may determine from time to time;

         1.12     "LANDLORD" means the party or parties named as "Landlord" at
                  the commencement of this Lease and includes the person for the
                  time being entitled to the reversion immediately expectant on
                  the determination of the Term.

         1.13     "LANDLORD WORKS" means the works and instalments to be carried
                  out by the Landlord in the Demised Premises as described in
                  Sixth Schedule.

         1.14     "THIS LEASE" means this Lease and any document which is made
                  supplemental hereto or which is entered into pursuant to or in
                  accordance with the terms hereof;

         1.15     "PERMITTED USER" means manufacturing and ancillary purposes.

         1.16     "THE PERPETUITY PERIOD" means the period commencing on the
                  date of this Lease and ending on the expiration of twenty
                  one years from the date of the death of the last survivor of
                  the issue now living of His Late Britannic Majesty King George
                  V.

         1.17     "PLAN NO. I AND PLAN NO. II" means the plans annexed to this
                  Lease and numbered Plan No. I and Plan No. II respectively.

         1.18     "PLANNING ACTS" mean the Local Government (Planning and
                  Development) Acts 1963 to 1999 and the Planning and
                  Development Act 2000.

         1.19     "PRESCRIBED RATE" means the rate per centum per month which
                  shall exceed by one half per centum per month the monthly rate
                  of interest for the time being chargeable under Section 550 of
                  the Income Tax Act 1967 (or such other monthly rate of
                  interest as may from time to time be chargeable upon arrears
                  of tax) or if the Landlord shall so elect at a rate of fifteen
                  per centum per annum.

         1.20     "PUBLIC HEALTH ACTS" mean the Local Government (Sanitary
                  Services) Act 1878 to 1964;

         1.21     "QUARTERLY GALE DAYS" are the prescribed rent payment dates
                  and mean 1st day of January 1st day of April 1st day of July
                  and 1st day of October in every year of the Term.

         1.23     "RENT REVIEW DATES" means the first day of the sixth year the
                  first day of the eleventh year the first day of the sixteenth
                  year and the first day of the 21st year of the Term.

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         1.24     "SAFETY HEALTH AND WELFARE AT WORK ACT" means the Safety
                  Health and Welfare at Work Act 1995.

         1.25     "THE SERVICE CHARGE" means the costs charges and expenses
                  payable by the Landlord for the services to be provided for
                  the Estate generally under and by virtue of the Superior Lease
                  upon the terms and conditions therein more particularly
                  contained. The Landlord shall endeavour not to take any action
                  or inaction in relation to matters within the Landlords
                  control which shall unduly cause the Service Charge to
                  increase during the Term.

         1.26     "THE SUPERIOR LANDLORD" means Industrial Development Agency
                  (Ireland) having its registered office at Wilton Park House
                  Wilton Place Dublin 2 or the person for the time being
                  entitled to the reversion immediately expectant on the
                  determination on the Term granted by the Superior Lease.

         1.27     "SUPERIOR LEASE" means Lease dated the 28th day of August 2000
                  made between Industrial Development Agency (Ireland) of the
                  one part and the Landlord of the other part.

         1.28     "SURVEYOR" means any person appointed by the Landlord
                  (including an employee of the Landlord and the person
                  appointed by the Landlord to collect the rents and manage the
                  Demised Premises) to perform the function of a surveyor for
                  any purpose of this Lease but does not include the Surveyor
                  defined in the Fourth Schedule;

         1.29     "TENANT" means the party or parties named as "Tenant" at the
                  commencement of this Lease and includes the successors in
                  title of the Tenant and permitted assigns of the Tenant and in
                  the case of an individual or individuals his/their personal
                  representatives;

         1.30     "TENANTS IMPROVEMENTS" the works and installations to be
                  carried out by the Tenant in the Demised Premises as described
                  in the Fifth Schedule.

         1.31     "TERM" means Twenty-Five Years.

         1.32     "TERM COMMENCEMENT DATE" means the 1st day of September 2002.

         1.33     "UTILITIES" mean the following of whatsoever nature:-

                  water soil steam air gas electricity; radio television
                  telegraphic telephonic and other communications and other
                  services and information;

         1.34     "THE 1860 ACT" and "THE 1881 ACT" shall mean respectively the
                  Landlord and Tenant Law Amendment Act Ireland 1860 and the
                  Conveyancing Act 1881.

2.       INTERPRETATION

         UNLESS there is something in the subject or context inconsistent
         therewith:

         2.1      where two or more persons are included in the expression "the
                  Landlord" and/or "the Tenant" the covenants which are
                  expressed to be made by the Landlord

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                  and/or the Tenant shall be deemed to be made by such persons
                  jointly and severally;

         2.2      words importing persons shall include firms companies and
                  corporations and vice versa;

         2.3      any covenant by the Tenant and Landlord not to do any act or
                  thing shall include an obligation not to permit or suffer such
                  act or thing to be done;

         2.4      references to any right of the Landlord to have access to or
                  entry upon the Demised Premises shall be construed as
                  extending to all persons authorised by the Landlord to include
                  its agents professional advisers prospective purchasers of any
                  interest of the Landlord in the Demised Premises or in the
                  Adjoining Property contractors workmen and others;

         2.5      any reference to a statute or statutes (whether specifically
                  named or not) or to any sections or sub-sections therein shall
                  include any amendments or reenactments thereof for the time
                  being in force and all Statutory Instruments orders notices
                  regulations directions bye-laws permissions and plans for the
                  time being made issued or given thereunder or deriving
                  validity therefrom;

         2.6      the titles or headings appearing in this Lease are for
                  reference only and shall not affect its construction or
                  interpretation;

         2.7      wherever in this Lease either party is granted a future
                  interest in property there shall be deemed to be included in
                  respect of every such grant a provision requiring that future
                  interest to vest within the Perpetuity Period;

         2.8      any reference to a clause or schedule shall mean a clause or
                  schedule of this Lease;

         2.9      any reference to the masculine gender shall include reference
                  to the feminine gender and any reference to the neuter gender
                  shall include the masculine and feminine genders and reference
                  to the singular shall include reference to the plural;

         2.10     if any term or provision in this Lease shall be held to be
                  illegal or unenforceable in whole or in part such term shall
                  be deemed not to form part of this Lease but the
                  enforceability of the remainder of this Lease shall not be
                  affected.

3.       DEMISE AND RENTS

         THE Landlord in consideration of the rents herein reserved (including
         the increases thereof as hereinafter provided) and the covenants on the
         part of the Tenant and the conditions hereinafter contained HEREBY
         DEMISES unto the Tenant the Demised Premises TOGETHER WITH the rights
         easements and privileges specified in the Second Schedule EXCEPTING AND
         RESERVING the rights and easements specified in the Third Schedule
         SUBJECT TO all rights easements quasi-easements privileges covenants
         restrictions and stipulations of whatsoever nature affecting the
         Demised Premises TO HOLD the Demised Premises unto the Tenant from and
         including the

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         Term Commencement Date for the Term YIELDING AND PAYING unto the
         Landlord during the Term:-

         3.1      yearly and proportionately for any fraction of a year the
                  Initial Rent and from and including each Rent Review Date such
                  yearly rent as shall become payable under and in accordance
                  with the provisions of the Fourth Schedule and in each case to
                  be paid by equal quarterly payments in advance on the
                  Quarterly Gale Days without any deduction set-off or
                  counterclaim whatsoever save as provided at Clause 5.2.4 and
                  which said yearly rent shall be paid at the option of the
                  Landlord but by agreement with the Tenant (which said option
                  may be exercised on any number of occasions) either by
                  standing order direct debit credit transfer or cheque Provided
                  Always that the Landlord acknowledges that on execution of
                  this Lease the Tenant shall pay one quarters rent and shall
                  then be entitled to a rent free period of 120 days from the
                  expiration of the first three months of the Term and that the
                  amounts payable on the relevant Quarterly Gale Days shall be
                  reduced accordingly;

         3.2      All sums (including the cost of periodic valuations for
                  insurance purposes) which the Landlord shall from time to time
                  pay for insuring the Demised Premises against the Insured
                  Risks pursuant to Clause 6.1. all such sums to be paid within
                  fourteen days following delivery of a proper invoice therefor
                  to the Tenant, the first payment to be made on the execution
                  hereof and to be such amount as has been advised to the Tenant
                  prior to the delivery of this Lease. The Landlord will use its
                  reasonable endeavours to secure competitive insurance rates
                  usual and customary for the Insured Risks;

         3.3      the Service Charge to be paid within fourteen days following
                  delivery of a proper invoice therefor to the Tenant.

4.       TENANTS COVENANTS

         The Tenant to the intent that the obligations may continue throughout
         the Term HEREBY COVENANTS with the Landlord as follows:

         4.1      RENTS

                  To pay the rents or increased rents reserved by this Lease and
                  referred to at paragraphs 3.1 to 3.3 inclusive and any
                  additional sums payable herein at the times and in the manner
                  herein prescribed for the payment of same.

         4.2      INTEREST ON ARREARS

                  Without prejudice to any other right remedy or power herein
                  contained or otherwise available to the Landlord if any of the
                  rents reserved by this Lease (whether formally demanded or
                  not) shall remain unpaid for more than fourteen days after the
                  Quarterly Gale Day or if any other sum of money payable to the
                  Landlord by the Tenant under this Lease shall remain unpaid
                  after the date when payment was due to pay interest thereon at
                  the Prescribed Rate from and including the date on which
                  payment was due to the date of payment to the Landlord (both
                  before and after any judgement).

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         4.3      SERVICE CHARGE

                  To pay the Service Charge within fourteen days following
                  delivery of a proper invoice therefor to Tenant and to keep
                  the Landlord indemnified against all actions claims demands
                  costs expenses damages and liability in any way relating
                  thereto which save any arising as a result of the failure of
                  the Landlord to discharge such Service Charge after payment
                  thereof by the Tenant.

         4.4      OUTGOINGS

                  4.4.1    To pay and indemnify the Landlord against all
                           existing and future rates taxes duties charges
                           assessments impositions and outgoings whatsoever
                           (whether parliamentary parochial local or of any
                           other description and whether or not of a capital or
                           non-recurring nature) which now are or may at any
                           time during the Term be charged levied assessed or
                           imposed upon or payable in respect of the Demised
                           Premises or upon the owner or occupier of them
                           (excluding any tax payable by the Landlord upon any
                           of the rents herein received or occasioned by any
                           disposition of or dealing with the reversion of this
                           Lease);

                  4.4.2    To pay all charges for electricity gas (if any) water
                           and other services consumed in the Demised Premises
                           including any connection and hiring charges and meter
                           rents (other than charges and other costs payable in
                           respect of the Landlords Works) and to perform and
                           observe all present and future regulations and
                           requirements of the electricity gas and water supply
                           authorities or boards in respect of the supply and
                           consumption of electricity gas and water on the
                           Demised Premises and to keep the Landlord indemnified
                           against any breach thereof.

         4.5      REPAIRS

                  4.5.1    To keep clean and tidy and to repair replace and
                           reinstate and keep in good order repair and condition
                           from time to time and at all times during the Term
                           the interior and exterior of the Demised Premises and
                           without derogating from the generality of the
                           foregoing the roof structure drains foundations walls
                           (including external and load bearing walls) timbers
                           joists and beams of the floors and ceilings chimney
                           stacks gutters doors locks plate glass and other
                           windows fixtures fittings fastenings wires waste
                           water drains and other pipes and sanitary and water
                           apparatus and to maintain repair and keep in good
                           working order and condition and (where necessary)
                           renew and replace all plant and machinery therein
                           including the Conduits and the central heating and
                           air conditioning plant (if any) the sprinkler system
                           and all boilers and all electrical and mechanical
                           plant machinery equipment and apparatus (damage by
                           any of the Insured Risks excepted (other than in
                           respect of any amount which may be deducted or
                           disallowed by the insurers pursuant to any excess
                           provision in the insurance policy upon settlement of
                           any claim by the Landlord) if and so long only as the
                           policy or policies of insurance shall not have been
                           vitiated or payment of policy monies withheld or
                           refused in whole or in part by reason of any act
                           neglect or default of the Tenant or

<PAGE>

                           the servants agents licensees or invitees of the
                           Tenant or any undertenant or any person under its or
                           their control) AND in the case of the Demised
                           Premises or any part thereof shall be destroyed or
                           become ruinous or incapable of beneficial occupation
                           or enjoyment by for or from any of the Insured Risks
                           the Tenant hereby absolutely waives and abandons its
                           rights (if any) to surrender this Lease under the
                           provisions of Section 40 of the 1860 Act or otherwise
                           PROVIDED ALWAYS that it is acknowledged by the
                           Landlord that the Tenant shall have no obligation to
                           carry out any repairs which are required as a result
                           of a latent or inherent defect in the foundations
                           floor sub-floor steel frame or load bearing walls of
                           the Demised Premises and which shall have manifested
                           itself before the expiration of the period of five
                           years from the Term Commencement Date and which shall
                           have been notified in writing by the Tenant to the
                           Landlord before the expiration of five years from the
                           Term Commencement Date provided always that the
                           Tenant shall serve such notice on the Landlord
                           immediately the Tenant becomes aware of such defect.

         4.6      EXTERNAL DECORATIONS

                  Subject to reasonable determination by the Landlord concerning
                  the necessity for the carrying out of such decorative works in
                  a good and workmanlike manner to prepare and decorate (with
                  sufficient coats of good quality paint) or otherwise treat as
                  appropriate all external wood metal stucco and cement work and
                  other exterior parts of the Demised Premises required to be so
                  treated and in colours desired of the Tenant and to be
                  approved by the Landlord (such approval not to be unreasonably
                  withheld).

         4.7      INTERNAL DECORATIONS

                  Subject to reasonable determination by the Landlord concerning
                  the necessity for the carrying out of such decorative works in
                  a good and workmanlike manner to prepare and decorate (with
                  sufficient coats of good quality paint) or otherwise treat as
                  appropriate ail internal parts of the Demised Premises
                  required to be so treated and as often as may be reasonably
                  necessary to wash down all tiles glazed bricks and similar
                  washable surfaces; such decorations and treatment in the last
                  year of the Term to be executed in such colours and materials
                  as the Landlord may reasonably require.

         4.8      CLEANING

                  To keep the Demised Premises in a clean and tidy condition and
                  at a frequency as commercially necessary and appropriate (but
                  no more frequent than once monthly) to clean properly all
                  windows and window frames and all other glass in the Demised
                  Premises.

         4.9      YIELD UP

                  At the expiration or sooner determination of the Term quietly
                  to yield up the Demised Premises in such good and substantial
                  repair and condition as shall be

<PAGE>

                  in accordance with the covenants on the part of the Tenant
                  herein contained and in any licence or consent granted by the
                  Landlord pursuant to the provisions of this Lease and in case
                  any of the Landlord's fixtures and fittings shall be missing
                  broken damaged or destroyed to forthwith replace them with
                  others of a similar kind and of equal value provided that the
                  Tenant shall not be obliged to upgrade any part thereof where
                  the Tenant has complied with its obligations pursuant to
                  Clause 4.5 hereof and to remove from the Demised Premises any
                  moulding sign writing or painting of the name or business of
                  the Tenant or occupiers and if so required by the Landlord but
                  not otherwise to remove and make good to the original
                  prevailing condition all alterations or additions made to the
                  Demised Premises by the Tenant including the making good of
                  any damage caused to the Demised Premises by the removal of
                  the Tenant's fixtures fittings furniture and effects.

         4.10     RIGHTS OF ENTRY BY LANDLORD

                  Subject to the provisions of Clause 7.9 to permit the Landlord
                  with all necessary materials and appliances access to the
                  Demised Premises at all reasonable times upon at least 48
                  hours prior written notice (except in cases of emergency) to
                  enter and remain upon the Demised Premises for any of the
                  following purposes:-

                  4.10.1   to view and examine the state and condition of the
                           Demised Premises and to take schedules or inventories
                           of the Landlord's fixtures;

                  4.10.2   to exercise any of the rights excepted and reserved
                           by this Lease;

                  4.10.3   for any other reasonable purpose connected with the
                           interest of the Landlord in the Demised Premises
                           including but not limited to valuing or disposing of
                           any interest of the Landlord.

         4.11     TO COMPLY WITH NOTICES

                  Whenever the Landlord shall give written notice to the Tenant
                  of any defects wants of repair (the repair or remediation of
                  which are the responsibility of the Tenant under this Lease)
                  or breaches of covenant the Tenant shall within sixty (60)
                  days of such notice or sooner if requisite make good and
                  remedy the defect want of repair or breach of covenant to the
                  reasonable satisfaction of the Landlord and if the Tenant
                  shall fail within twenty-one (21) days of such notice or as
                  soon as reasonably possible in the case of emergency to
                  commence and then diligently and expeditiously to continue to
                  comply with such notice the Landlord may enter the Demised
                  Premises and carry out or cause to be carried out all or any
                  of the works referred to in such notice and all costs and
                  expenses thereby incurred shall be paid by the Tenant to the
                  Landlord on demand and in default of payment shall be
                  recoverable as rent in arrear.

         4.12     DANGEROUS MATERIALS AND USE OF MACHINERY

                  4.12.1   If the Tenant shall keep in or on the Demised
                           Premises any article or thing which is or might
                           become dangerous, offensive, unduly combustible

<PAGE>

                           or inflammable, radio-active or which might unduly
                           increase the risk of fire or explosion it shall do so
                           in accordance with the provisions of all relevant
                           statutes.

                  4.12.2   Not to keep or operate in the Demised Premises any
                           machinery which shall be unduly noisy or cause
                           vibration or which is likely to annoy or disturb the
                           tenants and occupiers of the Adjoining Property.

         4.13     OVERLOADING FLOORS AND SERVICES

                  4.13.1   Not to overload the floors of the Demised Premises or
                           suspend any excessive weight from the roofs ceilings
                           walls stanchions or structure of the Demised Premises
                           and not to overload the Utilities and Conduits in or
                           serving the Demised Premises;

                  4.13.2   Not to do anything which may subject the Demised
                           Premises or any parts thereof to any strain beyond
                           that which they are designed to bear with due margin
                           for safety;

         4.14     CONDUITS

                  Not to discharge into any Conduits any oil or grease or any
                  noxious or deleterious effluent or substance whatsoever which
                  may cause an obstruction or might be or become a source of
                  danger or which might injure the Conduits or the Adjoining
                  Property.

         4.15     DISPOSAL OF REFUSE

                  Not to deposit in or on any external areas within the Demised
                  Premises any trade empties rubbish or refuse of any kind other
                  than in proper receptacles provided for the purpose or as may
                  be designated by the Landlord and not to burn any rubbish or
                  refuse within the curtilage of the Demised Premises.

         4.16     OBSTRUCTION OF COMMON PARTS

                  Not to do anything whereby any road path forecourt or other
                  area over which the Tenant may have rights or access or use
                  may be damaged or the fair use thereof by others may be
                  obstructed in any manner whatsoever.

         4.17     PROHIBITED USERS

                  4.17.1   Not to use the Demised Premises or any part thereof
                           for any public or political meeting public exhibition
                           or public entertainment show or spectacle of any kind
                           nor for any dangerous noisy noxious or offensive
                           trade business or occupation whatsoever nor for any
                           illegal or immoral purpose nor for residential or
                           sleeping purposes provided that periodic events
                           sponsored by Tenant for or on behalf of its employees
                           or customers and which are not offensive to adjoining
                           tenants or prohibited under the Superior Lease are
                           excepted from the foregoing.

<PAGE>

                  4.17.2   Not to use the Demised Premises or any part thereof
                           for gambling betting gaming or wagering or as a
                           betting office or as a club or for the sale of beer
                           wines and spirits and not to play or use any musical
                           instrument record player loud speaker or similar
                           apparatus in such a manner as to be audible outside
                           the Demised Premises and not to hold any auction on
                           the Demised Premises.

                  4.17.3   Not to place outside the Demised Premises nor to
                           expose from the windows of the Demised Premises any
                           articles goods or things of any kind.

         4.18     USER

                  4.18.1   Not without the prior written consent of the Landlord
                           and the Superior Landlord which consent shall not in
                           the case of the Landlord be unreasonably withheld or
                           delayed) to use the Demised Premises or any part
                           thereof except for the Permitted User;

                  4.18.2   Not to leave the Demised Premises continuously
                           unoccupied (other than for normal holiday periods)
                           without notifying the Landlord and providing such
                           caretaking or security arrangement as the Landlord
                           shall reasonably require in order to protect the
                           Demised Premises from vandalism theft or unlawful
                           occupation;

                  4.18.3   At all times to comply with all requirements of the
                           relevant Local Authority in connection with the user
                           of the Demised Premises for the purpose of the
                           Tenant's business;

                  4.18.4   to provide the Landlord with the name address and
                           home telephone number of at least two authorised key
                           holders for the time being of the demised Premises
                           and to notify the Landlord of any changes in the
                           person(s) so authorised as keyholders of the Demised
                           Premises;

         4.19     NUISANCE

                  Not to do anything in or about the Demised Premises which may
                  be or become a nuisance or which may cause damage annoyance
                  inconvenience or disturbance to the Landlord or the owners,
                  tenants or occupiers of the Adjoining Property or which may be
                  injurious to the value tone amenity or character of the
                  Demised Premises.

         4.20     ALTERATIONS

                  4.20.1   Not to erect any building or new structure on the
                           Demised Premises or any part thereof without the
                           prior consent of the Landlord such consent not to be
                           unreasonably withheld or delayed.

                  4.20.2   Not without the prior consent of the Landlord (such
                           consent not to be unreasonably withheld or delayed)
                           to alter, cut, divide, maim, injure or remove any of
                           the principal or load bearing walls, floors, beams or
                           columns of the Demised Premises or penetrate through
                           the external

<PAGE>

                           facades walls or cladding nor make any other
                           alteration or addition of a structural nature to the
                           Demised Premises PROVIDED ALWAYS that it is
                           acknowledged and agreed that the Tenant shall be
                           entitled to make internal non-structural alterations
                           which do not affect the Demised Premises as aforesaid
                           and which do not require a grant of planning
                           permission for the said alterations and the Tenant
                           shall reinstate the Demised Premises on the
                           expiration of the Term or sooner determination of
                           this Lease if so required by the Landlord.

                  4.20.3   The Landlord hereby consents to the carrying out and
                           completion of the Tenants Improvements subject to the
                           Tenant not carrying out the said works in such a
                           manner that they would prevent the Landlord relying
                           upon any structural warranties which it may receive
                           in respect of the building on the Demised Premises
                           and further subject to the Tenant agreeing that it
                           shall remove all or part of the Tenants Improvements
                           and reinstate the Demised Premises on the expiration
                           of the Term or sooner determination of this Lease if
                           so required by the Landlord.

                  4.20.4   Not to make any alterations or additions to the
                           Landlords fixtures or to any Conduits without
                           obtaining the prior consent of the Landlord such
                           consent not to be unreasonably withheld or delayed.

                  4.20.5   Save as provided in the proviso to Clause 4.20.2 and
                           in Clause 4.20.3 the Landlord may as a condition of
                           giving any such consent require the Tenant to enter
                           into such covenants as the Landlord shall reasonably
                           require regarding the execution of any such works and
                           the reinstatement of the Demised Premises at the
                           expiration of the Term or sooner determination of
                           this Lease.

                  4.20.6   If any alterations or additions to or within the
                           Demised Premises result in a variation of the
                           reinstatement cost of the Demised Premises from the
                           said cost prior to such alterations or additions;

                           4.20.6.1 Forthwith to give notice in writing to the
                                    Landlord of the variation in value so caused
                                    to enable the Landlord to alter the
                                    insurance cover in respect of the Demised
                                    Premises;

                           4.20.6.2 To pay or reimburse to the Landlord any
                                    shortfall of insurance cover caused by a
                                    failure to comply with the requirements in
                                    Sub-Clause 4.20.6.1;

                           4.20.6.3 Notice under Sub-Clause 4.20.6.1 notifying
                                    the variation of the reinstatement cost
                                    shall only be sufficient notice if it refers
                                    to the Sub-Clause in question and the
                                    Landlord shall not otherwise be deemed to
                                    have received such notice or to be
                                    responsible for varying the said insurance
                                    cover.

         4.21     SIGNS AND ADVERTISEMENTS

<PAGE>

                  4.21.1   The Tenant (so long as the size style position and
                           materials are suitable for the intended purpose and,
                           subject to the prior written consent of the Landlord
                           which shall not be unreasonably withheld or delayed
                           and subject to the Tenant complying with the
                           provisions of the Planning Acts and the Building
                           Control Acts), shall be allowed to erect and install
                           the following:

                           4.21.1.1 Monument sign on the grounds of the Demised
                                    Premises (at an appropriate location,
                                    depicting the name and address of the
                                    Tenant;

                           4.21.1.2 Wall sign on the exterior of the building
                                    (at an appropriate location and not
                                    obstructing windows or glazing or otherwise
                                    being in an objectionable location)
                                    depicting the name and logo of the Tenant;

                           4.21.1.3 A sign to be displayed on the entrance door
                                    (or adjacent area thereto at an appropriate
                                    location) stating the Tenant's name, address
                                    and business or profession;

                           4.21.1.4 A flag or flags mounted on appropriate
                                    flagpole at an appropriate location on the
                                    grounds depicting Tenant's company flag and
                                    may include approved country flags related
                                    to Tenant's business;

                           4.21.1.5 Any required commercially reasonable or
                                    required signs for designation of safety
                                    procedures or directions to loading docks,
                                    parking, and signs of similar nature.

                  4.21.2   Except as provided above the Tenant shall not erect
                           or display on the exterior of the Demised Premises or
                           in the windows thereof so as to be visible from the
                           exterior any aerial advertisement poster notice or
                           other sign or thing whatsoever.

         4.22     ALIENATION

                  Not to assign mortgage charge transfer underlet or part with
                  the possession or occupation of the Demised Premises or any
                  part thereof or suffer any person to occupy the Demised
                  Premises or any part thereof as a licensee BUT SO THAT
                  NOTWITHSTANDING the foregoing the Landlord shall not
                  unreasonably withhold or delay its consent to an assignment of
                  the entire Demised Premises to an assignee or to an
                  underletting of the entire of the Demised Premises to an
                  under-lessee of good and sufficient financial standing and
                  otherwise reasonably acceptable to the Landlord subject always
                  to the following provisions or such of them as may be
                  appropriate that is to say:-

                  4.22.1   The Tenant shall prior to any such alienation as
                           aforesaid apply to the Landlord and give all
                           reasonable information concerning the proposed
                           transaction and concerning the proposed assignee
                           under-lessee or disponee as the Landlord may
                           reasonably require;

<PAGE>

                  4.22.2   The Landlord's consent to any such alienation shall
                           be in writing and shall be given in such manner as
                           the Landlord shall decide and the Tenant shall pay
                           the reasonable costs of the Landlord in connection
                           with the furnishing of such consent;

                  4.22.3   In the case of an assignment to a limited liability
                           company it shall be deemed reasonable for the
                           Landlord (if such company is not of good and
                           sufficient financial standing) to require that two
                           directors of standing satisfactory to the Landlord
                           shall join in such consent as aforesaid as sureties
                           for such Company in order jointly and severally to
                           covenant with the Landlord in the manner required by
                           the Landlord;

                  4.22.4   In the case of an under-lease the same shall be made
                           without taking a fine or premium and at the then
                           current market rent or at the rent payable hereunder
                           at the time of granting of such Underlease,
                           (whichever is the higher) and the under-lessee shall
                           if required by the Landlord enter into a direct
                           covenant with the Landlord to perform and observe all
                           the covenants (other than that for payment of the
                           rents hereby reserved) and conditions herein
                           contained and every such under-lease shall also be
                           subject to the following conditions that is to say
                           that it shall contain:-

                           4.22.4.1 provisions for the review of the rent
                                    thereby reserved (which the Tenant hereby
                                    covenants to operate and enforce) on an
                                    upwards only basis corresponding both as to
                                    terms and dates and in all other respects
                                    (mutatis mutandis) with the rent review
                                    provisions contained in this Lease:

                           4.22.4.2 a covenant condition or proviso under which
                                    the rent from time to time payable under
                                    such under-lease shall not be less than the
                                    rent from time to time payable hereunder;

                           4.22.4.3 a covenant by the undertenant (which the
                                    Tenant hereby covenants to enforce)
                                    prohibiting the undertenant from doing or
                                    suffering any act or thing upon or in
                                    relation to the Demised Premises
                                    inconsistent with or in breach of the
                                    provisions of this Lease;

                           4.22.4.4 a condition for re-entry on breach of any
                                    covenant by the undertenant;

                           4.22.4.5 the same restrictions as to alienation
                                    assignment underletting parting with or
                                    sharing the possession or occupation of the
                                    premises underlet;

                  4.22.6   To enforce at the Tenant's own expense the
                           performance and observance by every such undertenant
                           of the covenants provisions and conditions of the
                           under-lease and not at any time either expressly or
                           by implication to waive any breach of the same;

<PAGE>

                  4.22.7   Not to agree any reviewed rent with the undertenant
                           or any rent payable on any renewal thereof without
                           the prior written consent of the Landlord (such
                           consent not to be unreasonably withheld or delayed);

                  4.22.8   Not to vary the terms of any permitted under-lease
                           without the prior written consent of the Landlord
                           such consent not to be unreasonably withheld;

         4.23     REGISTRATION OF DISPOSITIONS

                  Within twenty-one (21) days of every alienation assignment
                  transfer assent under-lease assignment of under-lease mortgage
                  charge (including lodgement of the relevant document or
                  instrument as security) or any other disposition whether
                  mediate or immediate of or relating to the Demised Premises or
                  any part thereof to produce to and leave with the Landlord or
                  its solicitors a certified copy of the deed instrument or
                  other document evidencing or effecting such disposition and to
                  pay to the Landlord's solicitors their reasonable legal costs
                  and other expenses in connection with such alienation.

         4.24     DISCLOSURE OF INFORMATION

                  Upon making any application or request in connection with the
                  Demised Premises or this Lease to disclose to the Landlord
                  such information as the Landlord may reasonably require and
                  whenever the Landlord shall reasonably request to supply full
                  particulars;

                  4.24.1   of all persons in actual occupation or possession of
                           the Demised Premises and of the right in which they
                           are in such occupation or possession and

                  4.24.2   of all persons having an interest in the Demised
                           Premises (other than in the reversion to the Term).

         4.25     LANDLORD'S COSTS

                  To pay and indemnify the Landlord against all reasonable and
                  proper costs fees charges disbursements and expenses incurred
                  by the Landlord including but not limited to those payable to
                  solicitors counsel architects surveyors and sheriffs:

                  4.25.1   in relation to the preparation and service of a
                           notice under Section 14 of the 1881 Act and of any
                           proceedings under the 1881 Act and /or the 1860 Act
                           (whether or not any right of re-entry or forfeiture
                           has been waived by the Landlord or a notice served
                           under Section 14 of the 1881 Act has been complied
                           with by the Tenant and notwithstanding that
                           forfeiture has been avoided otherwise than by relief
                           granted by the Court);

                  4.25.2   in relation to the preparation and service of all
                           notices and schedules relating to wants of repair
                           whether served during or after the expiration of the
                           Term (but relating in all cases only to such wants of
                           repair that

<PAGE>

                           accrued not later than the expiration or sooner
                           determination of the Term);

                  4.25.3   in connection with the recovery or attempted recovery
                           of arrears of rent or other sums due from the Tenant
                           or in procuring the remedying of the breach of any
                           covenant by the Tenant;

                  4.25.4   in relation to any application for consent required
                           or made necessary by this Lease whether or not the
                           same is granted (except in cases where the Landlord
                           is obliged not to unreasonably withhold its consent
                           and the withholding of its consent is held to be
                           unreasonable) or whether or not the application has
                           been withdrawn;

                  4.25.5   In relation to any application made by the Landlord
                           at the request of the Tenant and whether or not such
                           application is accepted refused or withdrawn.

         4.26     STATUTORY REQUIREMENTS

                  4.26.1   At the Tenant's own expense to comply in all respects
                           with the provisions of all Acts Statutory Instruments
                           Bye Laws and other regulations now in force or which
                           may hereafter be in force and any other obligations
                           imposed by law relating to the Demised Premises or
                           the user thereof;

                  4.26.2   To execute all works and provide and maintain all
                           arrangements upon or in respect of the Demised
                           Premises or the user thereof which are directed or
                           required (whether by the Landlord Tenant or occupier)
                           by any statute now in force or which may hereafter be
                           in force or by any government department local or
                           other competent authority or duly authorised officer
                           or court of competent jurisdiction acting under or in
                           pursuance of any statute and to indemnify and keep
                           the Landlord indemnified against all costs charges
                           fees and expenses of or incidental to the execution
                           of any works or the provision or maintenance of any
                           arrangements so directed or required;

                  4.26.3   Not to do in or near the Demised Premises any act or
                           thing by reason of which the Landlord may under any
                           statute incur or have imposed upon it or become
                           liable to pay any penalty damages compensation costs
                           charges or expenses.

         4.27     PLANNING ACTS AND THE BUILDING CONTROL ACT

                  4.27.1   Not to do anything on or in connection with the
                           Demised Premises the doing or omission of which shall
                           be a contravention of the Planning Acts or the
                           Building Control Act or of any notices orders
                           licences consents permissions and conditions (if any)
                           served made granted or imposed thereunder and to
                           indemnify (as well after the expiration of the Term
                           by effluxion of time or otherwise as during its
                           continuance) and keep indemnified the Landlord
                           against all actions proceedings damages penalties
                           costs charges claims and demands in respect of such
                           acts and omissions or any of them and against the
                           costs of any application for

<PAGE>

                           planning permission commencement notices fire safety
                           certificates and the works and things done in
                           pursuance thereof;

                  4.27.2   In the event of the Landlord giving written consent
                           to any of the matters in respect of which the
                           Landlord's consent shall be required under the
                           provisions of this Lease or otherwise and in the
                           event of permission or approval from any local
                           authority under the Planning Acts or the Building
                           Control Act being necessary for any addition
                           alteration or change in or to the Demised Premises or
                           for the change of user thereof to apply at the cost
                           of the Tenant to the relevant local authority for all
                           approvals certificates consents and permissions which
                           may be required in connection therewith and to give
                           notice to the Landlord of the granting or refusal (as
                           the case may be) together with copies of all such
                           approvals certificates consents and permissions
                           forthwith on the receipt thereof and to comply with
                           all conditions regulations bye laws and other matters
                           prescribed by any competent authority either
                           generally or specifically in respect thereof and to
                           carry out such works at the Tenant's own expense in a
                           good and workmanlike manner to the satisfaction of
                           the Landlord;

                  4.27.3   To give notice forthwith to the Landlord of any
                           notice order or proposal for a notice or order served
                           on the Tenant under the Planning Acts or the Building
                           Control Act and if so required by the Landlord to
                           produce the same and at the request of the Landlord
                           but at the cost of the Tenant (except if the
                           foregoing is not due to Tenant's negligence or breach
                           of this Lease, Landlord shall pay the cost thereof)
                           to make or join in making such objections or
                           representations in respect of any proposal as the
                           Landlord may require;

                  4.27.4   To comply at its own cost with any notice or order
                           served on the Tenant under the provisions of the
                           Planning Acts or the Building Control Act;

                  4.27.5   Not to implement any planning permission before it
                           and any necessary fire safety certificates have been
                           produced to and approved in writing by the Landlord
                           (such approval not to be unreasonably withheld or
                           delayed) PROVIDED THAT the Landlord may refuse to
                           approve such planning permission or fire safety
                           certificate on the grounds that any condition
                           contained in it or anything omitted from it or the
                           period referred to in it would in the reasonable
                           opinion of the Landlord be or be likely to be
                           prejudicial to the Landlord's interest in the Demised
                           Premises.

                  4.27.6   To produce to the Landlord on demand all plans
                           documents and other evidence as the Landlord may
                           reasonably require in order to satisfy itself that
                           all of the provisions in this covenant have been
                           complied with.

         4.28     STATUTORY NOTICES

                  Within Fourteen (14) days of receipt of the same (or sooner if
                  requisite having regard to the requirements of the notice or
                  order in question or the time limits stated therein) to
                  produce to the Landlord a true copy and any further
                  particulars required by the Landlord of any notice or order or
                  proposal for the same given to the Tenant and relevant to the
                  Demised Premises or the occupier thereof by any

<PAGE>

                  government department or local or public or statutory
                  authority and without delay to take all necessary steps to
                  comply with the notice or order in so far as the same is the
                  responsibility of the Tenant and at the request of the
                  Landlord but at the cost of the Landlord (unless such notice
                  order or proposal shall arise due to the act or default of the
                  Tenant) to make or join with the Landlord in making such
                  objection or representation against or in respect of any such
                  notice order or proposal as the Landlord shall deem expedient.

         4.29     FIRE AND SAFETY PRECAUTIONS AND EQUIPMENT

                  4.29.1   To comply with the requirements and recommendations
                           (whether notified or directed to the Landlord and
                           then to the Tenant or directly to the Tenant) of the
                           appropriate local authority the insurers of the
                           Demised Premises and the Landlord in relation to fire
                           and safety precautions affecting the Demised
                           Premises;

                  4.29.2   Not to obstruct the access to or means of working any
                           fire fighting extinguishing and other safety
                           appliances for the time being installed in the
                           Demised Premises or the means of escape from the
                           Demised Premises in case of fire or other emergency.

                  4.29.3   To comply at all times with the provisions of the
                           Safety Health and Welfare at Work Act and (where
                           applicable) to furnish the Landlord with a copy of
                           the Safety File prepared pursuant thereto.

         4.30     ENCROACHMENTS AND EASEMENTS

                  Not to stop up darken or obstruct any of the windows or lights
                  belonging to the Demised Premises and not to permit any new
                  window light opening doorway passage Conduit or other
                  encroachment or easement to be made or acquired into upon or
                  over the Demised Premises or any part thereof and in case any
                  person shall attempt to make or acquire any encroachment or
                  easement whatsoever to give written notice thereof to the
                  Landlord immediately the same shall come to the notice of the
                  Tenant and at the request and cost of the Landlord to join
                  with the Landlord in adopting such means as may be reasonably
                  required by the Landlord for preventing any such encroachment
                  or the acquisition of any such easement.

         4.31     RELETTING NOTICES

                  To permit the Landlord at all reasonable times having given
                  seven days prior written notice during the last six (6) months
                  of the Term to enter upon the Demised Premises and affix and
                  retain without interference upon any suitable parts of the
                  Demised Premises (but not so as to materially affect the
                  access of light and air to the Demised Premises) notices for
                  reletting the same and not to remove or obscure the said
                  notices and to permit all persons with the written authority
                  of the Landlord to view the Demised Premises at all reasonable
                  hours in the daytime upon prior notice having been given.

<PAGE>

         4.32     INDEMNITY

                  4.32.1   To keep the Landlord fully indemnified from and
                           against all actions proceedings claims demands losses
                           costs expenses damages and liability arising in any
                           way directly or indirectly out of any act omission or
                           negligence of the Tenant or any persons in on or
                           about the Demised Premises expressly or impliedly
                           with the Tenant's authority (except any of the
                           foregoing resulting from Landlord's negligence, acts
                           or omissions, or any of the same by any of its
                           agents, or by persons Landlord authorises to enter
                           the Demised Premises) or the user of the Demised
                           Premises or any breach of the Tenant's covenants or
                           the conditions or other provisions contained in this
                           Lease;

                  4.32.2   To effect and keep in force during the Term such
                           public liability employer's liability and other
                           policies of insurance (to the extent that such
                           insurance cover is available) as may be necessary to
                           cover the Tenant against any claim arising under this
                           covenant and to extend such policies of insurance so
                           that the Landlord is indemnified by the insurers in
                           the same manner as the Tenant and whenever required
                           to do so by the Landlord to produce to the Landlord
                           the said policy or policies together with
                           satisfactory evidence that the same is/are valid and
                           subsisting and that all premiums due thereon have
                           been paid.

         4.33     STAMP DUTY AND VALUE ADDED TAX

                  To pay to the Landlord the stamp duty payable on this Lease
                  and the counterpart thereof and to pay and indemnify the
                  Landlord against any Value Added Tax payable on the delivery
                  hereof or on the rents reserved herein.

         4.34     COVENANTS AFFECTING REVERSION

                  4.34.1   To observe and perform the covenants and conditions
                           on the part of the purchasers contained in the
                           Superior Lease and to indemnify the Landlord from and
                           against any actions proceedings claims damages costs
                           expenses or losses arising from any breach
                           non-observance or non-performance of such covenants
                           agreements stipulations and conditions.

                  4.34.2   Not to do, omit, suffer or permit in relation to the
                           Demised Premises any act or thing which would or
                           might cause the Landlord to be in breach of the
                           Superior Lease or which if done omitted or suffered
                           or permitted by the Landlord would or might cause a
                           breach of the covenants on the part of the purchaser
                           and the agreements stipulations and conditions
                           contained in the Superior Lease.

         4.35     TENANTS IMPROVEMENTS

                  4.35.1   In the event the Tenant carries out the Tenants
                           Improvements to procure that they shall be carried
                           out and completed with good and proper materials in a
                           good and workmanlike manner and in compliance with
                           all applicable statutes.

<PAGE>

                  4.35.2   The Tenant if carrying out the Tenants Improvements
                           shall use its reasonable endeavours not to obstruct
                           or interfere with the carrying out by the Landlord of
                           the Landlords Works and the Tenant, its agents and
                           contractors shall abide by all reasonable
                           stipulations of the Landlord and its agents and
                           contractors.

                  4.35.3   If applicable to furnish to the Landlord all
                           requisite Fire Safety Certificate and Planning
                           Permissions in relation to the Tenants Improvements
                           and to furnish an architects opinion on compliance
                           (in the RIAI recommended form) with the terms and
                           conditions thereof.

5.       LANDLORDS COVENANTS

         The Landlord HEREBY COVENANTS with the Tenant as follows:-

         5.1      QUIET ENJOYMENT

                  That the Tenant paying the rents reserved by this Lease and
                  performing and observing the covenants on the part of the
                  Tenant herein contained shall and may peaceably hold and enjoy
                  the Demised Premises during the Term without any interruption
                  by the Landlord or any person lawfully claiming through under
                  or in trust for it.

         5.2      LANDLORDS WORKS

         5.2.1    The Landlord shall immediately commence carry out and complete
                  the Landlords Works with good and proper materials, in a good
                  and workmanlike manner, and in compliance with all applicable
                  statute.

         5.2.2    The Landlord shall use its reasonable endeavours to complete
                  the Landlords Works as quickly as possible and in any event
                  within a period of 120 days from the Term Commencement Date.

         5.2.3    The Landlord in carrying out the Landlords Works, shall use
                  its reasonable endeavours not obstruct or interfere with the
                  carrying out of the Tenants Improvements and the Landlord (its
                  agents and contractors) shall abide by all reasonable
                  stipulations of the Tenant (its agents and contractors).

         5.2.4    If the Landlord has not completed the Landlords Works within a
                  period of 120 days from (a) the Term Commencement Date (save
                  for the additional car spaces); or (b) the date of service of
                  notice pursuant to Clause 1.2.7 of the Sixth Schedule in
                  respect of the additional car spaces, the Tenant shall be
                  entitled (but not obliged) to carry out and complete the
                  Landlords Works and the Tenant shall be entitled to set off
                  all costs and expenses reasonably and properly incurred by the
                  Tenant against payment of the rent hereby reserved.

         5.2.5    The Landlord agrees that it shall be liable for any repair to
                  the foundations floor sub-floor steel frame or load bearing
                  walls of the

<PAGE>

                  Demised Premises which are required as a result of any latent
                  or inherent defect which shall have manifested itself before
                  the expiration of five years from the Term Commencement Date
                  and which shall have been notified by the Tenant to the
                  Landlord in writing before the expiration of five years from
                  the Term Commencement Date provided always that such notice
                  has been given by the Tenant to the Landlord immediately the
                  Tenant becomes aware of the said defect.

6.       INSURANCE

         6.1      LANDLORD TO INSURE

                  Subject to the Landlord being able to effect insurance against
                  any one or more of the items referred to in this sub-clause
                  (which the Landlord shall use its reasonable endeavours to
                  effect) and subject to reimbursement by the Tenant of the sums
                  referred in paragraph 3.2 the Landlord covenants with the
                  Tenant to insure the following in the name of the Landiord;-

                  6.1.1    the Demised Premises against loss or damage by the
                           Insured Risks in the full reinstatement cost thereof
                           (to be determined from time to time by the Landlord
                           or his Surveyor or Professional Adviser) including;

                  6.1.2    Architects Surveyors Consultants and other
                           professional fees (including Value Added Tax
                           thereon);

                  6.1.3    the costs of shoring up demolishing site clearing and
                           similar expenses;

                  6.1.4    all stamp duty and other taxes or duties exigible on
                           any building or like contract as may be entered into
                           and all other incidental expenses relative to the
                           reconstruction reinstatement or repair of the Demised
                           Premises;

                  6.1.5    such provision for inflation as the Landlord acting
                           reasonably and properly shall deem appropriate;

                  6.1.6    the loss of rent (taking account of any review of the
                           rent which may become due under this Lease) following
                           loss or damage to the Demised Premises by the Insured
                           Risks for three (3) years;

                  6.1.7    property owners public employer's and other liability
                           of the Landlord arising out of or in relation to the
                           Demised Premises; and

                  6.1.8    such other insurances as the Landlord may acting
                           reasonably and properly from time to time deem
                           necessary to effect.

         6.2      LANDLORD TO PRODUCE EVIDENCE OF INSURANCE AND OTHER MATTERS

<PAGE>

                  6.2.1    At the request of the Tenant the Landlord shall and
                           hereby covenants with the Tenant to produce to the
                           Tenant a copy or extract duly certified by the
                           Landlord of the policy/policies of such insurance and
                           a copy of the receipt(s) for the last premium or (at
                           the Landlord's option) reasonable evidence from the
                           insurers of the terms of the insurance
                           policy/policies and the fact that the policy/policies
                           is subsisting and in effect.

                  6.2.2    The Landlord covenants with the Tenant as follows:-

                           6.2.2.1  The Landlord will use its reasonable
                                    endeavours to secure competitive insurance
                                    rates usual and customary for all insurances
                                    effected or to be effected by the Landlord
                                    pursuant to its insuring obligations in this
                                    Lease.

                           6.2.2.2  The Landlord shall use its reasonable
                                    endeavours to procure that insurers of the
                                    Demised Premises from time to time issue a
                                    waiver of subrogation rights against the
                                    Tenant Provided that if no such letter shall
                                    be procured the Landlord shall procure that
                                    the interest of the Tenant in the Demised
                                    Premises shall be noted on the
                                    policy/policies of insurance.

                           6.2.2.3  The Landlord shall have due regard to any
                                    reasonable representations made by the
                                    Tenant in relation to insurance of the
                                    Demised Premises including the nomination of
                                    the Insurer.

         6.3      DESTRUCTION OF THE DEMISED PREMISES

                  If the Demised Premises or any part thereof or access thereto
                  is destroyed or damaged by any of the Insured Risks so as to
                  render it unfit for use and occupation then;-

                  6.3.1    unless payment of the insurance moneys shall be
                           refused in whole or in part by reason of any act
                           neglect or default of the Tenant or the servants
                           agents licensees or invitees of the Tenant or any
                           under-tenant or any person under its or their
                           control; and

                  6.3.2    subject to the Landlord being able to obtain any
                           necessary planning permission and fire safety
                           certificates and all other necessary licences
                           approvals and consents (in respect of which the
                           Landlord shall use its reasonable endeavours to
                           obtain and shall forthwith procure the lodging of an
                           application and diligently pursue such application);
                           and

                  6.3.3    subject to the necessary labour and materials being
                           and remaining available (in respect of which the
                           Landlord shall use its reasonable endeavours to
                           obtain as soon as practicable);

                           the Landlord shall lay out the proceeds of such
                           insurance (other than any in respect of the loss of
                           rent and service charge sums) in the rebuilding

<PAGE>

                           and reinstating of the Demised Premises or the part
                           or parts thereof so destroyed or damaged
                           substantially as the same were prior to any such
                           destruction or damage (but not so as to provide
                           accommodation identical in manner or method of
                           construction if it would not be reasonably practical
                           to do so provided such variation shall not materially
                           alter the layout and specifications of the new
                           building from the existing building) and shall make
                           good any shortfall at the sole cost of Landlord;

         6.4      WHERE REINSTATEMENT IS PREVENTED

                  If the Landlord is prevented (for whatever reason) from
                  rebuilding or reinstating the Demised Premises the Landlord
                  shall be relieved from such obligation and shall be solely
                  entitled to all the insurance moneys and if such rebuilding
                  and reinstating shall continue to be so prevented for twenty
                  four months after the date of the destruction or damage and
                  this Lease has not been terminated by frustration either the
                  Landlord or the Tenant may at any time after the expiry of
                  such twenty four months by written notice given to the other
                  determine this demise but without prejudice to any claim by
                  either party against the other in respect of any antecedent
                  breach of covenant.

         6.5      CESSER OF RENT AND SERVICE CHARGE

                  In case the Demised Premises or any part or parts thereof or
                  access thereto shall be destroyed or damaged by any of the
                  Insured Risks so as to render same unfit for use and
                  occupation and the insurance shall not have been vitiated or
                  payment of the policy moneys refused in whole or in part as a
                  result of some act or default of the Tenant or any
                  under-tenant or any person under its or their control then the
                  rents reserved by clauses 3.1 3.2 and 3.3 or a fair proportion
                  thereof according to the nature and extent of the damage
                  sustained shall be immediately suspended until the Demised
                  Premises or the part destroyed or damaged shall be again
                  rendered fit for use and occupation and accessible for
                  Tenant's operations (as reasonably was the case prior to such
                  damage event) or until the expiration of three years if the
                  option to determine pursuant to Clause 6.4 has not been
                  exercised from the date of such destruction or damage
                  (whichever is the earlier) and any dispute regarding the
                  cesser of rent shall be referred to a single arbitrator to be
                  appointed in default of agreement upon the application of
                  either party by or on behalf of the President (or other
                  officer endowed with the functions of such President) for the
                  time being of the Society of Chartered surveyors in accordance
                  with the provisions of the Arbitration Acts 1954 to 1980.

         6.6      SUPERIOR LEASE

                  6.6.1    The Landlord shall perform and observe or procure the
                           performance and observance of the covenants and
                           conditions on the part of the tenant in the Superior
                           Lease contained save to the extent that these
                           covenants and conditions are fully set-out herein and
                           are the responsibility of the Tenant under the
                           provisions of this Lease.

                  6.6.2    The Landlord shall use its reasonable endeavours to
                           procure performance by the Superior Landlord with its
                           obligations pursuant to the

<PAGE>

                           provisions of the Superior Lease including, but not
                           limited to the obligation to provide services to the
                           Demised Premises and the Estate.

         6.7      INSURANCE BECOMING VOID

                  Neither the Tenant or the Landlord shall do or omit to do
                  anything that could cause any policy of insurance in respect
                  of or covering the Demised Premises to become void or voidable
                  wholly or in part nor (unless the Tenant has previously
                  notified the Landlord and agreed to pay the increased premium)
                  do anything whereby any abnormal or loaded premium may become
                  payable and the Tenant shall on demand pay to the Landlord all
                  expenses incurred by the Landlord in renewing any such policy.

         6.8      NOTICE BY TENANT AND LANDLORD

                  The Tenant and Landlord, as the case may be, shall give each
                  other notice forthwith upon the happening of any event or
                  thing which might affect any insurance policy relating to the
                  Demised Premises.

7.       PROVISOS

         PROVIDED ALWAYS AND IT IS HEREBY AGREED AND DECLARED as follows:-

7.1      FORFEITURE

         Without prejudice to any other right remedy or power herein contained
         or otherwise available to the Landlord:

                  7.1.1    if the rent reserved by this Lease or any part or
                           parts thereof shall be unpaid fourteen days after
                           becoming payable or in the case of any other sums by
                           the date on which they become payable (whether
                           formally demanded or not); or

                  7.1.2    if any of the covenants by the Tenant contained in
                           this Lease shall not be performed or observed after
                           being given written notice by Landlord providing a
                           reasonable time to remedy such breach; or

                  7.1.3    if the Tenant (being a body corporate) has a
                           winding-up petition presented against it or passes a
                           winding-up resolution (other than in connection with
                           a members' voluntary winding up for the purposes of
                           an amalgamation or reconstruction as permitted by law
                           or which has the prior written approval of the
                           Landlord) or resolves to present its own winding-up
                           petition or is wound-up (whether in Ireland or
                           elsewhere) or a Receiver and Manager is appointed in
                           respect of the Demised Premises or any part thereof
                           or of the Tenant; or

                  7.1.4    if the Tenant being an individual or if more than one
                           individual then any one of them) has a bankruptcy
                           petition presented against him or is adjudged
                           bankrupt (whether in Ireland or elsewhere) or suffers
                           any distress or execution to be levied on the Demised
                           Premises or enters into

<PAGE>

                           composition with his creditors or shall have a
                           receiving order made against him

                  THEN and in any such case the Landlord may at any time
                  thereafter re-enter the Demised Premises or any part thereof
                  in the name of the whole and thereupon the Term shall
                  absolutely cease and determine but without prejudice to any
                  rights or remedies which may then have accrued to the Landlord
                  against the Tenant in respect of any antecedent breach of any
                  of the covenants or conditions contained in this Lease.

         7.2      NO IMPLIED EASEMENTS

                  Nothing herein contained shall impliedly confer upon or grant
                  to the Tenant any easement right or privilege other than those
                  expressly granted by this Lease.

         7.3      EXCLUSION OF WARRANTY AS TO USER

                  Nothing contained in this Lease or in any consent granted by
                  the Landlord under this Lease shall imply or warrant that the
                  Demised Premises may be used under the Planning Acts or the
                  Building Control Act and the Public Health Acts for any
                  purpose other than the Permitted User first therein stated at
                  Clause 1.15;

         7.4      REPRESENTATIONS

                  The Tenant and Landlord acknowledge that this Lease has not
                  been entered into in reliance wholly or partly on any
                  statement or representation made by or on behalf of the
                  Landlord or Tenant as the case may be except any such
                  statement or representation that is expressly set out in this
                  Lease.

         7.5      EFFECT OF WAIVER

                  Each of the Tenant's covenants shall remain in full force both
                  at law and in equity notwithstanding that the Landlord shall
                  have waived or released temporarily any such covenant or
                  waived or released temporarily or permanently revocably or
                  irrevocably a similar covenant or similar covenants affecting
                  other property belonging to the Landlord.

         7.6      APPLICABLE LAW

                  This Lease shall in all respect be governed by and interpreted
                  in accordance with the laws of Ireland;

         7.7      OPTION TO DETERMINE

<PAGE>

                  7.7.1    The Tenant may terminate this Lease on either the
                           last day of the fifth year of the term (The First
                           Determination Date) the last day of the tenth year of
                           the Term (the Second Determination Date) the last day
                           of the fifteenth year of the Term (the Third
                           Determination Date) or the last day of the twentieth
                           year of the Term (the Fourth Determination Date)
                           strictly subject to the Tenant complying with the
                           following terms and conditions:-

                  7.7.1.1  The Tenant shall give to the Landlord not less than
                           twelve months prior written notice (which shall be
                           irrevocable) of its intention to terminate the Lease
                           on the First Determination Date, the Second
                           Determination Date the Third Determination Date or
                           the Fourth Determination Date as the case may be.

                  7.7.1.2  The Tenant shall pay all the rents herein reserved
                           and observe and perform in all covenants and
                           conditions on its part to be performed and observed
                           herein contained up to the First Determination Date
                           the Second Determination Date the Third Determination
                           Date the Fourth Determination Date as the case may
                           be.

                  7.7.1.3  in the case of the exercise of the option to
                           terminate on the First Determination Date the Tenant
                           shall pay to the Landlord on or before the First
                           Determination Date an additional sum equal to
                           eighteen months rent (payable pursuant to Sub-Clause
                           3.1) payable during the 5th year of the Term.

                  7.7.1.4  in the Case of the exercise of the Option to
                           terminate on the Second Determination Date the Tenant
                           shall pay to the Landlord on or before the Second
                           Determination Date an additional sum equal to nine
                           months rent (payable pursuant to Sub-Clause 3.1)
                           payable during the tenth year of the Term.

                  7.7.1.5  in the Case of the exercise of the Option to
                           terminate on the Third Determination Date the Tenant
                           shall pay to the Landlord on or before the Third
                           Determination Date an additional sum equal to six
                           months rent (payable pursuant to Sub-Clause 3.1)
                           payable during the fifteenth year of the Term;

                  7.7.1.6  in the case of the exercise of the Option to
                           terminate on the Fourth Determination Date, there
                           shall be no additional rent payable with respect to
                           such termination;

                  7.7.1.7  the Tenant shall deliver up to the Landlord on the
                           First Determination Date the Second Determination
                           Date the Third Determination Date or the Fourth
                           Determination Date as the case may be the Demised

<PAGE>

                           Premises maintained and repaired in all material
                           respects in accordance with its obligations under
                           this Lease with vacant possession of the entire
                           thereof;

                  7.7.1.8  the Tenant shall furnish to the Landlord on or prior
                           to the First Determination Date the Second
                           Determination Date the Third Determination Date or
                           the Fourth Determination Date as the case may be
                           evidence of payment of any outgoings payable in
                           respect of the Demised Premises on or prior to such
                           relevant Determination Date

                  7.7.1.9  The Tenant shall furnish to the Landlord on or prior
                           to the First Determination Date the Second
                           Determination Date the Third Determination Date or
                           the Fourth Determination Date as the case may be the
                           original of this Lease (or where the original has
                           been lost evidence of such loss and that it has not
                           been deposited as security or if it has evidence of
                           release of such security), and a satisfactory
                           indemnity in respect of any loss arising from the
                           loss of the Lease a duly executed release of any
                           Mortgage charge or encumbrance thereover or over the
                           Demised Premises a completed assent to closure of any
                           leasehold folio opened in the Land Registry in
                           respect of this Lease and to the cancellation of the
                           Lease as a burden on the Landlord's folio, evidence
                           of the termination of any sub-leases of the Demised
                           Premises and any applicable documents in the Tenant's
                           possession in relation to this Lease of the Demised
                           Premises and the Land Certificate (if issued) in
                           relation to the Tenant's folio.

                  Subject to strict compliance with the foregoing conditions the
                  Term shall cease on the First Determination Date the Second
                  Determination Date the Third Determination Date or the Fourth
                  Determination Date (whichever shall be applicable) but without
                  prejudice to the remedies of either party against the other in
                  respect of any antecedent breach of any of the covenants or
                  conditions contained in this Lease. PROVIDED ALWAYS that it is
                  acknowledged that the provisions of this Clause 7.7 shall only
                  remain in force and effect for so long as the Tenant is
                  Celerity Fluid Systems Ireland Limited or a company that is
                  related to Celerity Fluid Systems Ireland Limited in the
                  manner described in section 140(5)(a) to (d) of the Companies
                  Act 1990 (hereinafter called "a Related Company") and the
                  benefit of this option shall not be assignable to any assignee
                  of the Demised Premises that is not a Related Company of
                  Celerity Fluid Systems Ireland Limited and in the event of any
                  assignment of the Tenant's Interest under this Lease to a
                  company which is not a Related Company of Celerity Fluid
                  Systems Ireland Limited as aforesaid the option contained in
                  this clause shall immediately cease and no longer be of any
                  force or effect and shall not apply to such assignee or any
                  subsequent successor in title.

         7.8      NOTICES

                  7.8.1    Any demand or notice required to be made given to or
                           served on the Tenant under this Lease shall be duly
                           and validly made given or served if

<PAGE>

                           addressed to the Tenant (and if there shall in either
                           case be more than one of them then to any one of
                           them) and delivered personally or sent by pre-paid
                           registered or recorded delivery mail or sent by telex
                           or telegraphic facsimile transmission email or
                           private courier evidenced by receipt addressed (in
                           the case of a company) to its registered office or
                           (whether a company or individual) to its last known
                           address or (in the case of a notice to the Tenant) to
                           the Demised Premises;

                  7.8.2    Any notice required to be given to or served on the
                           Landlord shall be duly and validly given or served if
                           sent by pre-paid registered or recorded delivery mail
                           or sent by telex telegraphic facsimile transmission
                           email or private courier evidenced by receipt
                           addressed to the Landlord at its registered office as
                           the Landlord shall have furnished (and maintained
                           current) by written notice to Tenant.;

         7.9      EXERCISE OF LANDLORDS RIGHTS

                  Where the Landlord or any other person on behalf of the
                  Landlord exercises any rights or reservations pursuant to this
                  Lease, then the person exercising such rights will do so on
                  the basis that:-

                  7.9.1    such rights shall be exercised where possible or
                           appropriate outside the business hours of the Tenant
                           except in the case of emergency;

                  7.9.2    such person shall minimise any damage and disturbance
                           to the business being carried on in the Demised
                           Premises;

                  7.9.3    such person shall make good all damage to the Demised
                           Premises;

                  7.9.4    any works shall be carried out in accordance with
                           good building practice and in compliance with any
                           statutory requirements;

                  7.9.5    due regard shall be had to the Tenant's requirements
                           in relation to any works permitted under any such
                           right or reservation;

                  7.9.6    any works requiring entry onto the Demised Premises
                           shall only be carried out where such works cannot
                           otherwise be reasonably and commercially achieved
                           from outside the Demised Premises.

8.       SECTION 45 LAND ACT 1965

         IT IS HEREBY CERTIFIED that the Demised Premises are situate in the
         County of Fingal

<PAGE>

9.       FINANCE ACT CERTIFICATES

         9.1      IT IS HEREBY CERTIFIED that the transaction hereby effected
                  does not form part of a larger transaction or of a series of
                  transactions in respect of which the amount or value or the
                  aggregate amount or value of the consideration (other than
                  rent) exceeds E 6,350

         9.2      IT IS HEREBY FURTHER CERTIFIED that Section 53 (Lease combined
                  with Building Agreement for dwelling house/apartment) of the
                  Stamp Duties Consolidation Act 1999 does not apply to this
                  instrument.

10.      SECTION 29 COMPANIES ACT 1990

         IT IS HEREBY CERTIFIED for the purposes of Section 29 of the Companies
         Act 1990 that the transaction hereby effected does not require to be
         approved by a resolution passed at a general meeting of the members of
         the Tenant.

11.      ASSENT

         The Landlord HEREBY ASSENTS to the registration of this Lease as a
         burden on the property comprised in the Folio to be opened in respect
         of the Landlord's interest AND HEREBY CONSENTS to the use of the Land
         Certificate (when issued) of the said Folio for the purposes of such
         registration.

12.      TENANT'S ADDRESS AND DESCRIPTION

         The address of the Tenant in the State for service of notices and its
         description are as appear at the commencement of this Lease.

IN WITNESS whereof the parties hereto have executed this Lease in the manner
following and on the day and year first herein WRITTEN.

<PAGE>

                                 FIRST SCHEDULE

                                DEMISED PREMISES

ALL THAT the lands and premises together with the building(s) comprising 27,190
square feet erected thereon or on part or parts thereof as shown outlined in red
on Plan No. 1 annexed hereto (excluding the electricity substation on the ground
floor shown coloured green on Plan No.1) and known as Unit B14 IDA Business Park
Ballycoolin Dublin 15 (being part of the premises comprised in Dealing No.
D2001DN004353M and being part of the lands comprised in Folio 120501F of the
Register County Dublin) including without prejudice to the generality of the
foregoing:-

1.       all Landlord's fixtures fittings plant machinery apparatus and
         equipment now or hereafter in or upon the same;

2.       all Conduits in upon over under or exclusively serving the same;

3.       all additions alterations and improvements thereto; and

4.       all exterior paving, grounds, landscaping and appurtenances thereto or
         therein.

                                 SECOND SCHEDULE

                          RIGHTS AND EASEMENTS GRANTED

1.       All rights easements and privileges (insofar as applicable) which have
         been granted to the Landlord and which are more particularly described
         in the First Schedule to the Superior Lease and furnished to Tenant
         herein.

                                 THIRD SCHEDULE

                           EXCEPTIONS AND RESERVATIONS

The following rights and easements are excepted and reserved out of the Demised
premises to the Landlord and the occupiers of the Adjoining Property and all
other persons authorised by the Landlord or having the like rights and
easements:-

1.       The free and uninterrupted passage and running of the Utilities through
         the Conduits which are now or may at any time during the Term be in on
         under or passing through or over the Demised Premises;

2.       Subject to provisions of Clause 7.9, the right at all reasonable times
         upon at least 48 hours prior notice except in cases of manifest
         emergency to enter (or in cases of manifest emergency or after the
         giving of reasonable notice during the Tenant's absence to break and
         enter) the Demised Premises in order to:-

<PAGE>

         inspect cleanse maintain repair connect remove lay renew relay replace
         with others alter or execute any works whatever to or in connection
         with the Conduits and any other services;

         execute repairs decorations alterations and any other works and to make
         installations to the Adjoining Property or to do anything whatsoever
         which the Landlord may or must do under this Lease;

         see that no unauthorised erections additions or alterations have been
         made and that authorised erections additions and alterations are being
         carried out in accordance with any consent given herein and any
         permission or approval granted by the relevant local authority;

3.       The rights of light air support protection and shelter and all other
         easements and rights now or hereafter belonging to or enjoyed by the
         Adjoining Property;

4.       Full right and liberty at any time hereafter to raise the height of or
         make any alterations or additions or execute any other works to any
         buildings on the Adjoining Property or to erect any new buildings of
         any height on the Adjoining Property in such a manner as the Landlord
         or the person exercising the right shall think fit, notwithstanding
         that the same may obstruct affect or interfere with the amenity of or
         access to the Demised Premises or the passage of light and air to the
         Demised Premises but not so that the Tenant's use and occupation
         thereof is materially affected;

5.       All mines and minerals in or under the Demised Premises.

6.       All rights easements and privileges which are excepted or reserved unto
         the Superior Landlord and which are more particularly described in the
         First Schedule to the Superior Lease as provided to Tenant herein.

7.       The full right and liberty for the Electricity Supply Board its
         successors and assigns its and their servants agents and
         subcontractors:-

         7.1      to go pass and repass with or without vehicles along over and
                  upon the roads and ways on the Demised Premises leading to the
                  electricity substation site shown on Plan No. II annexed
                  hereto and thereon outlined in red (hereinafter called the
                  Sub-station-Site).

         7.2      to lay and construct electricity supply cables and other
                  services under the Demised Premises leading from and to the
                  Substation-Site.

         7.3      to inspect cleanse maintain repair connect remove lay renew
                  replace the said electricity cables and other services.

8.       Unto the Electricity Supply Board and its successors and assigns the
         free and uninterrupted passage and running of the Utilities through the
         Conduits from and to the Substation-Site.

<PAGE>

                                 FOURTH SCHEDULE

                                  RENT REVIEWS

It is hereby acknowledged and agreed by the Landlord and the Tenant that the
revised rents payable under this Lease shall be:-

1.       For the period of five years commencing on the 1st day of September
         2007 E 305,887.50 per annum.

2.       For the period of five years commencing on the 1st day of September
         2012 E 382,291.40 per annum.

3.       For the period of five years commencing on the 1st day of September
         2017 E 478,000.20 per annum.

4.       For the period of five years commencing on the 1st day of September
         2022 E 597,636.20 per annum.

<PAGE>

                                 FIFTH SCHEDULE

                              TENANT IMPROVEMENTS

OUTLINE SCOPE OF WORK TO BE DONE IN FITTING OUT AN EXISTING FACTORY AT
BALLYCOOLIN BUSINESS PARK, BALLYCOOLIN ROAD, BLANCHARDSTOWN, DUBLIN 15 FOR
KINETICS FLUID SYSTEMS.

PREPARED BY:

ARCHITECTS: LORCAN LYONS & ASSOCIATES
                  NORTHUMBERLAND HOUSE
                  11, NORTHUMBERLAND AVENUE
                  DUN LAOGHAIRE
                  COUNTY DUBLIN

                  TEL: 01 280 0054
                  FAX: 01 280 6992

                  DATED: JUNE 2002

IN GENERAL, THE SCOPE OF WORK IS DESCRIBED IN THE FOLLOWING DESCRIPTION. A
CONCEPTUAL DRAWING OF INTENDED TENANT IMPROVEMENTS IS ALSO PROVIDED, WHICH WILL
BE FURTHER DEFINED AS THE PROJECT DEVELOPS TOWARD TENDER PACKAGES. A FULL SET OF
SUCH PROJECT DRAWINGS AND SPECIFICATIONS WILL BE MADE AVAILABLE TO THE LANDLORD.
ALL WORK WILL BE PERFORMED IN ACCORDANCE WITH APPLICABLE STATUES, CODES AND
REGULATIONS GOVERNING THE PROJECT, THE LEASE, AND THE DEVELOPMENT
SPECIFICATIONS.

1.       OFFICES

1.1      Erect partitions on Ground Floor to form a Meeting Room.

1.2      Erect partitions on First Floor to form 4 No. Offices.

2.       FACTORY

2.1      Erect high level steel work to take Air Handling Units.

2.2      Form roof and wall openings for air intake and exhaust.

2.3      Provide waste pipe under existing floor slab from Canteen sink and
         connect to new manhole taken to existing drains.

2.4      Erect "walk on" ceiling and partitions as required to form new clean
         rooms.

2.5      Prepare existing concrete floor to take selected flooring in clean
         rooms.

<PAGE>

2.6      Prepare existing concrete floor to take selected dust sealer (if
         required).

3.       EXTERNAL

3.1      Form two concrete bases for Nitrogen and Argon Tanks.

4.       SERVICES

4.1      To upgrade ESB supply as required.

4.2      Provide mechanical and electrical services to Clean Room.

4.3      Provide Telephone System through out.

                                 ==============
<PAGE>

                                  [FLOOR PLAN]

<PAGE>

                                 SIXTH SCHEDULE

                         SPECIAL LANDLORD CONTRIBUTIONS

1.       In addition to Landlord obligations with respect to the Demised
         Premises as set out in this Lease, and immediately following to the
         commencement of this Lease, the Landlord shall provide the following at
         Landlord's expense (unless otherwise noted below):

         1.1      The Landlord shall procure the correction of all deficiencies
                  in accordance with the "snag list" (a copy of which is
                  appended hereto) denoting such deficiencies or substandard
                  work in the facility and grounds of the Demised Premises.

         1.2      The Landlord agrees, at the Landlord's expense, to provide the
                  following additional improvements to the Demised Premises:

                  1.2.1    Floor coverings to the offices conference rooms and
                           first floor balcony in the reception area comprising
                           Furlong Confidence heavy commercial grade (or similar
                           equivalent as agreed) and per colour and
                           specification as agreed;

                  1.2.2    Urinals of good commercial quality together with
                           shower room in the ground floor gentlemen's toilet
                           (Landlord to consult with Tenant's architect on exact
                           placement);

                  1.2.3    Urinals of good commercial quality in the first floor
                           gentlemen's toilet (Landlord to consult with Tenant's
                           architect on exact placement);

                  1.2.4    One additional first floor window (equal or similar
                           size as the existing adjacent window) from the
                           conference room overlooking the production floor area
                           (the Landlord to consult with the Tenant's architect
                           on exact placement);

                  1.2.5    External landscaping as per SAP landscape plan dated
                           17 June 2002;

                  1.2.6    The production floor area shall be dust sealed with a
                           commercial quality epoxy sealant, colour and
                           specification to be agreed;

                  1.2.7    The Landlord agrees within 120 days of receipt of a
                           notice in writing from the Tenant requesting it to do
                           so it will procure the provision and laying out of an
                           additional car parking area (complete with paving and
                           in accordance with reasonable standards and
                           specifications) and of sufficient size to procure
                           that the Demised Premises shall have not less than 72
                           car spaces in total on the Demised Premises.

<PAGE>

                                    SNAG LIST

                                   SITE WORKS

         -        Rake over, Remove Stones, Roll and Seed all Grass Areas and
                  provide Landscaping.

         -        Provide Mowing Kerbs to all Manholes.

         -        Lower Area around Gas Tank to prevent flooding.

         -        Engineers to confirm that "Crazing" Marks on Asphalte are of
                  no consequence.

         -        Mark out Car Park Spaces.

         -        Mark Boundaries.

         -        Engineers to confirm that there are sufficient Street Lights
                  in Car Park (e.g. only 2 No. Standards in Side Car Park).

         -        Engineers to confirm that Drains have been cleaned out and
                  Manholes properly formed.

         -        Reduce height of Area to the West down to original level.

         -        Check No. of Car Park Spaces to meet Planning Condition.

FRONT ELEVATION (SOUTH)

         -        Fit Plastic Covers to Weep Holes in Windows to Reception Area
                  (Also, check other Windows are complete).

         -        Cover Plate to Transom, over Entrance Door; is split in
                  centre, replace with one piece.

         -        Plaster exposed Block Work under Windows.

         -        Complete Mastic Pointing to side of Glazed Screen to left of
                  Reception.

                                     PAGE 2

         -        Fit Plastic Covers to Screw Fixing, on Metal Pieces between
                  Windows.

SIDE ELEVATION (WEST)

         -        Mastic Vertical Joint in Flat Architectural Panels.

         -        Clean off Rust Marks on Flat Panels.

<PAGE>

         -        Exit Door:      Seal top of Door Frame, at fixed Panel.
                                  Form Concrete Level Area outside Exit Doors
                                  (Fire Regulation).

         -        2 Fixings missing in Cladding.

RERE ELEVATION (NORTH)

         -        Form Flat Concrete Area at Exit Door.

         -        Clean off Rust Marks in Cladding at Exit Doors.

SIDE ELEVATION (EAST)

         -        Fit Plastic Covers to Weep Holes.

         -        Plaster under Windows.

         -        Complete Gravel at Loading Door.

         -        Provide Vents to E.S.B. Room if required by them.

         -        Mastic Vertical Joints in Flat Panels.

                                    RECEPTION

         -        Provide Stays to Opening Window Sections.

         -        Fill Gap between Ceiling and Alumimium Screen.

                                     PAGE 3

         -        Provide Cover to Radiator Valve.

         -        Drill Holes in Threshold and Frame of Small Door into Lobby
                  for Bolts.

         -        Provide Skirting to Lobby.

         -        Fill Gaps around Timber Architraves/Skirtings.

         -        Check Fire Regulations for Automatic Smoke Vent.

         -        Remove Label on High Level Window.

         -        Provide Mat to Lobby.

<PAGE>

                              GROUND FLOOR OFFICES

         -        Make good Timber Skirting; cut for Heating Pipes.

         -        Check Stays to all Opening Windows.

                                 FEMALE TOILETS

         -        Replace 2 Broken Tiles at back of W.C.

         -        2 No. W.C.'s have Flexible Drains - Are these acceptable?

         -        Fit Toilet Roll Holders.

                                 DISABLED TOILET

         -        Paint Copper Pipes to Radiator.

         -        Fit Mirror.

         -        Fit Toilet Roll Holder.

                                 CLEANERS STORE

         -        Fit Sink.

                                     PAGE 4

                                  MALE TOILETS

         -        Fix Loose Skirting Tile at Drain under Wash Hand Basins.

         -        Fit Shower as agreed.

         -        Fit Urinals as agreed.

                                     FACTORY

         -        Confirm specification for Dust Sealer, yet to be applied to
                  Concrete Floor.

         -        Cut back D.P.M. along external Walls and Point all Joints.

         -        Fill Gap at Side of Exit Doors.

         -        Remove Tape from Windows.

         -        Close up Gap in Cladding to Right of Main Loading Door.

         -        Loading Door suspended from Purlins, is this acceptable to
                  Engineers?

<PAGE>

         -        Remove "Cleats" at Wind Bracing.

         -        Close up Gap, between Block Wall and Cladding along East
                  Elevation.

                                   BACK STAIRS

         -        Check For Roof Leak and Replace Damaged Ceiling Tiles.

         -        Check for Automatic Roof Vent (Fire Regulations).

                               FIRST FLOOR OFFICES

         -        Close up Gap between Window Board and Wall.

         -        Check all Window Stays.

                                     PAGE 5

                             FIRST FLOOR BOARD ROOM

         -        Check that 3 No. Radiators are sufficient for this Room.

         -        Provide Plastic Caps over Screw Fixings in Kitchen Unit.

         -        No Drain for Dishwasher provided.

                             MAIN FIRST FLOOR TOILET

         -        Provide Toilet Roll Holder.

                            SMALL FIRST FLOOR TOILET

         -        Replace Hatch to Water Tank over.

         -        Provide Mirror.

         -        Provide Toilet Roll Holder.

         -        Check that size of Water Tanks is correct.

NOTE: THIS SNAG LIST IS BASED ON A VISUAL INSPECTION ONLY, NO TESTS WERE CARRIED
         OUT OR OPENINGS MADE. THE ROOF WAS NOT INSPECTED FROM THE OUTSIDE AS NO
         ACCESS WAS AVAILABLE.

<PAGE>

SIGNED SEALED AND DELIVERED
by the said SENAN BOLAND                                     /s/ Senan Boland
in the presence of:-

SIGNED SEALED AND DELIVERED
by the said MARIE BOLAND                                    /s/ Marie Boland
in the presence of:-

PRESENT when the Common Seal
of CELERITY FLUID SYSTEMS IRELAND LIMITED
was affixed hereto:-                                        /s/
                                                            --------------------

                                                            /s/
                                                            --------------------
<PAGE>

                               [RURAL PLACE MAP]

<PAGE>

                               [RURAL PLACE MAP]

<PAGE>

                       Dated the 4th day of SEPTEMBER 2002

                          SENAN BOLAND AND MARIE BOLAND

                                                                        ONE PART

                                       AND

                     CELERITY FLUID SYSTEMS IRELAND LIMITED

                                                                      OTHER PART

                                     LEASE

              UNIT B14 IDA BUSINESS PARK BALLYCOOLIN COUNTY DUBLIN

                            GERRARD SCALLAN & O'BRIEN
                                   Solicitors
                            69/71 St. Stephen's Green
                                    Dublin 2

<PAGE>

[CELERITY LOGO]

FACSIMILE

Attention: Randy Green, Celerity Group, Inc.
           Elbhlin O.Donnell, William Fry

Regarding: VAT form 4A, Lease of Ballycoolin facility, Co. Dublin

From:      Peter English

Date:      08.27.02

Pages:     3

Message:

The attached completed VAT From 4A was dispatched by courier to Hugh O'Donnell
(Gerard Scallan O'Brien Solicitors) today.

Regards,

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

This message is Intended only for the use of the individual or entity to which
it is addressed and may contain information that is privileged, confidential or
subject to copyright. Any unauthorized use, disclosure, distribution or copying
of this communication by anyone other than the intended recipient is strictly
prohibited. If you received this message in error, please notify us immediately
by telephone to arrange for its return at our expense.

<PAGE>

                                                                     FORM VAT 4A

                   VALUE ADDED TAX - SECTION 4A, VAT ACT 1972

To: Inspector of Taxes,

         APPLICATION BY A LESSOR AND A LESSEE TO HAVE THE PROVISIONS OF
      SECTION 4A VAT ACT 1972 APPLIED TO A LETTING OF PROPERTY DEEMED TO BE
           A SUPPLY OF GOODS UNDER SECTION 4, VAT ACT 1972. (NOTE 1)

          [BEFORE COMPLETING THIS FORM PLEASE READ THE ATTACHED NOTES]

SECTION A - (TO BE COMPLETED BY THE LESSOR)

1. NAME OF LESSOR                           Senan Boland and Marie Boland

2. ADDRESS OF LESSOR                        1 Greenane
                                            Dunshaughlin
                                            County Meath

3. TRADING NAME                             ________________________________

4. TELEPHONE NUMBER                         8215520

5. VAT NUMBER                               IE 95388205

6. ADDRESS OF PREMISES TO BE LEASED         Unit B14
                                            IDA Business Park
                                            Ballycoolin, Dublin 15

7. IS THE LETTING OF THE PROPERTY A
   TAXABLE SUPPLY OF PROPERTY UNDER               YES [X]    NO [ ]   (NOTE 2)
   SECTION 4, VAT ACT 1972

8. PERIOD OF PROPOSED LEASE                 25 Years
                                            -----------------------   (NOTE 3)
                                            4,588,312.50 Euro

9. CAPITALISED VALUE OF THE Lease           _______________________   (NOTE 4)

10. VAT DUE                                 573,539.06 Euro           (NOTE 5)

<PAGE>

SECTION B - (TO BE COMPLETED BY THE LESSEE)

11.      NAME OF LESSEE                     CELERITY FLUID SYSTEMS IRELAND
                                            LIMITED

12.      ADDRESS OF LESSEE                  898 LAGAN ROAD, DUBLIN INDUSTRIAL
                                            ESTATE, [ILLEGIBLE], DUBLIN 11

13.      TRADING NAME                       CELERITY FLUID SYSTEMS IRELAND LTD

14.      TELEPHONE NUMBER                   01 830 5088

15.      VAT NUMBER                         IE 4748514T

16.      DESCRIBE THE PURPOSE FOR WHICH
         THE PREMISES AT NO. 6 OVERLEAF
         IS BEING LEASED                    FACTORY + OFFICES           (NOTE 6)

17.      ARE YOU ENTITLED TO FULL
         DEDUCTIBILITY IN RESPECT OF THE        YES [X]    NO [ ]       (NOTE 7)
         VAT CHARGEABLE ON THE LEASE OF
         THE PREMISES

                                  DECLARATIONS                          (NOTE 8)

TO BE COMPLETED BY THE LESSOR

I/We declare that the information provided in Section A of this form is correct
and I/we undertake to supply any further information which may be requested.

Signed:                                                 Date: ________________
        -----------------------

Status: _______________________

TO BE COMPLETED BY THE LESSEE

I/We declare that the information provided in Section B of this form is correct
and I/we undertake to supply any further information which may be requested. I
further declare that I am entitled to full deductibility in respect of the
amount of VAT shown at No. 10 overleaf and that I will account for that VAT on
my VAT return.

Signed:                                                 Date: 27 August 2002
        ------------------------

Status: DIRECTOR

<PAGE>

                               [WILLIAM FRY LOGO]

                                   WILLIAM FRY
                                   SOLICITORS

Our Ref         013211.0008.EOS/EOD                             21 November 2002

BY DHL

Mr Randy Green
Vice President
Global Facilities & Safety
Celerity Group, Inc.
400 Parker Drive, Suite 1100
Austin
TX 78728
USA

LEASE OF UNIT B14 IDA INDUSTRIAL PARK, BALLYCOOLIN, CO. DUBLIN

Dear Randy

I refer to the above matter and now enclose copy Lease dated 4 September 2002
between (1) Senan Boland and Marie Boland and (2) Celerity Fluid Systems Ireland
Limited. You will note that the Lease has been stamped and a new map meeting
Land Registry requirements has been inserted.

I am currently arranging to lodge the original Lease in the Land Registry for
registration, and when registered, I confirm that we will store the original
Lease in our strong-room for safe-keeping.

You may recall that we had refused to hand over the insurance monies on closing
as GSOB had not furnished us with a copy of the Boland's insurance policy, and
had issued us with an incorrect invoice. They have now forwarded us a copy of
the insurance policy together with an invoice in the sum of Euro E 15,301.18
in respect of the premium due, and I enclose copies of both for your
information. I would be grateful if you could inform me as to who I should
forward the invoice to, so that we can arrange to have a cheque forwarded to
GSOB to discharge same.

I look forward to hearing from you.

With regards-

         Fitzwilton House, Wilton Place, Dublin 2, Ireland. DX23 Dublin

<PAGE>

Yours sincerely                                               [WILLIAM FRY LOGO]

/s/ Eibhlin O'Donnell
--------------------------
Eibhlin O'Donnell
William Fry
Solicitors

Direct Dial: +353-1-639 5000
E-Mail: eibhlin.odonnell@williamfry.ie

80497-vl

                                       2
<PAGE>

[EAGLE STAR LOGO]

                                                    POLICY NO: 01 CCP 0638746

                                                    AGENCY NO: 010651762

                                                    BRANCH:    DUBLIN

MacDonagh Boland Crotty MacRedmond
Ltd t/a Aon MacDonagh Boland (Under
writer In House)
10/12 Lansdowne Road
Dublin 4

                           COMMERCIAL COMBINED POLICY

INSURED:                     Mr Senan Boland & Mrs Marie Boland

BUSINESS DESCRIPTION:        Property Owners

PERIOD OF INSURANCE:         From 30/08/2002 to 1200 hours on 30/08/2003

RENEWAL DATE:                30/08/2003

OPERATIVE SECTIONS:          Fire and Additional Perils
                             Business Interruption
                             Public Liability

FIRST PREMIUM:               E 15,301.18(IR L 12,050.66)

               NOTE:- THE ABOVE PREMIUM INCLUDES STATUTORY CHARGES

The following endorsements apply to all Sections of this Policy:

T1005        T1006

<PAGE>

POLICY NO: 01 CCP 0638746          BRANCH: DUBLIN          AGENCY NO: 01 0651762

[EAGLE STAR LOGO]

                             COVER DETAILS SCHEDULE

RISK LOCATION:               Unit B14
                             Ballycoolin Industrial Estate
                             Blanchardstown
                             Dublin 15

OCCUPANCY & CONSTRUCTION DETAILS: Occupied by tenant Kinetics Fluid Systems
                                  Ireland Ltd, they design, manufacture, markets
                                  and services high purity gas and chemical
                                  delivery instruments.

SECTION: FIRE AND ADDITIONAL PERILS

<TABLE>
<CAPTION>
                             SUMS INSURED
<S>                          <C>
Buildings                    E  2,400,000

                             ------------
       TOTAL SUM INSURED     E  2,400,000
                             ------------
</TABLE>

The Insurer will indemnify the Insured in respect of Damage which is caused by
or which is attributable to any of the following additional perils (which are
defined under the Fire and Additional Perils section of the policy document).
1,2,3,5,7,9,10,11,13

The following endorsements apply to this Section:
MD015, MD036, MD062

SECTION: BUSINESS INTERRUPTION

Indemnity Period                                                       36 Months

<TABLE>
<CAPTION>
                             SUMS INSURED
<S>                          <C>
Gross Profit                 E    734,130

                             ------------
       TOTAL SUM INSURED     E    734,130
                             ------------
</TABLE>

The Insurer will indemnify the Insured in respect of Damage which is caused by
or which is attributable to any of the following additional perils (which are
defined under the Business Interruption section of the policy document).
1,2,3,5,7,9,10,11,13

The following endorsements apply to this Section:
BI028, BI045

<PAGE>

POLICY NO: 01 CCP 0638746         BRANCH: DUBLIN           AGENCY NO: 01 0651762

[EAGLE STAR LOGO]

SECTION: PUBLIC LIABILITY

Limit of Indemnity any one Accident                            E 1,300,000

                                                                  WAGEROLL

Sub Contractors Wages                                               Nil
Work Away Wages                                                     Nil

The following endorsements apply to this Section :
PL183, PL251

<PAGE>

POLICY NO: 01 CCP 0638746         BRANCH: DUBLIN           AGENCY NO: 01 0651762

[EAGLE STAR LOGO]

                              ENDORSEMENTS SCHEDULE

T1005 - WAR AND TERRORISM EXCLUSION ENDORSEMENT

This Policy excludes loss, damage, cost or expense or liability of whatsoever
nature directly or indirectly caused by, resulting from or in connection with
any of the following regardless of any other cause or event contributing
concurrently or in any other sequence to the loss;

(1)      war, invasion, acts of foreign enemies, hostilities or warlike
         operations (whether war be declared or not), civil war, rebellion,
         revolution, insurrection, civil commotion assuming the proportions of
         or amounting to an uprising, military or usurped power; or

(2)      any act of terrorism.

         For the purpose of this endorsement an act of terrorism means an act,
         including but not limited to the use of violence and/or the threat
         thereof, of any person or group(s) of persons, whether acting alone or
         on behalf or in connection with any organisation(s) or government(s),
         committed for political or other purposes including the intention to
         influence any government and/or to put the public, or any section of
         the public in fear.

This endorsement also excludes loss, damage, cost or expense of whatsoever
nature directly or indirectly caused by, resulting from or in connection with
any action taken in controlling, preventing, suppressing or in any way relating
to (1) and/or (2) above.

If the Insurer alleges that by reason of this exclusion, any loss, damage, cost
or expense is not covered by this Policy the burden of proving the contrary
shall be upon the Insured.

T1006 - CYBER RISK CLARIFICATION

         The following clarification applies to all Sections of the policy other
         than the Employers Liability Section if operative

         This Policy does not apply to liability, loss, damage, cost or expense
         of whatsoever nature directly or indirectly caused by, resulting from
         or in connection with:

         (1)      the loss of alteration of or damage to

         or

         (2)      a reduction in the functionality availability or operation of

         a computer system, hardware, programme, software, data, information
         repository, microchip, integrated circuit or similar device in computer
         equipment or non-computer equipment that results from the malicious or
         negligent transfer (electronic or otherwise) of a computer programme
         that contains any malicious or damaging code including but not limited
         to computer virus, worm, logic bomb or trojan horse

<PAGE>

POLICY NO: 01 CCP 0638746         BRANCH: DUBLIN           AGENCY NO: 01 0651762

[EAGLE STAR LOGO]

BI028 - BUSINESS INTERRUPTION ALL RISKS - STEALING COVER ENDORSEMENT

Exclusion 2.3 under the Business Interruption All Risks section is amended to
read as follows:-

This section does not cover loss resulting from

2.       Damage caused by:

         3 (i)    theft or any attempt thereat

                  (a)      which does not involve

                           (i)      entry to or exit from a building by forcible
                                    and violent means

                                    or

                           (ii)     robbery committed on the premises

                  (b)      to property in the open or in outbuildings

BI045 - BUSINESS INTERRUPTION EXCESS

The Insurer shall not be liable for the first E 125 of each and every claim
under the Business Interruption section of this policy unless a higher excess
applies under another endorsement of the policy.

MD015 - SUBROGATION WAIVER ENDORSEMENT

In the event of a claim under this Section the Insurer agrees to waive any
rights, remedies or relief to which they might become entitled by subrogation
against the under noted person(s) arising out of their occupation of the
premises (insured by this Section) as tenants except where such claim shall have
been brought about or contributed to by their fraudulent criminal or malicious
act.

Celerity Fluid Systems Ireland Ltd

MD036 - MATERIAL DAMAGE "ALL RISKS" STEALING COVER ENDORSEMENT

Exclusion 2.3 under the Material Damage "All Risks" section is amended to read
as follows:-

1.       Damage caused by:

         2.3      stealing or any attempt thereat

                  (a)      which does not involve

                           (i)      entry to or exit from a building by forcible
                                    and violent means or

                           (ii)     robbery committed on the premises

                  (b)      to property in the open or in outbuildings

MD062 - FIRE AND ADDITIONAL PERILS EXCESS

The Insurer shall not be liable for the first E 125 of each and every claim
under the Fire and Additional perils section of the policy (as ascertained after
the application of the condition of average) unless a higher excess applies
under another endorsement of the policy.

<PAGE>

POLICY NO: 01 CCP 0638746         BRANCH: DUBLIN           AGENCY NO: 01 0651762

[EAGLE STAR LOGO]

PL183 - PROPERTY OWNERS LIABILITY ENDORSEMENT

The indemnity granted by the Public Liability Section of the Policy applies in
respect of the Insured's legal liability as within defined arising from defects
in the premises owned by the Insured specified below.

This policy shall not apply in respect of claims arising out of any trade or
business carried out at the premises.

Unit B14, Ballycoolin Ind Est, Blanchardstown, D15

PL251 - PUBLIC LIABILITY EXCESS

The Insurer shall not be liable in respect of the first E 125 in respect of
each and every claim arising in connection with loss and /or damage to Material
property under the Public Liability section of the policy unless a higher excess
applies under another endorsement of the policy.

<PAGE>

                                                                      [AON LOGO]

SENAN & MARIE BOLAND
c/o Hitech Plating Ltd
Unit B10
Ballycoolin Business Park
Dublin 15

                                                           INVOICE

                                               DATE 22 OCT 02   ACCOUNT NO:H0164

Invoice No:     M00010833                      Premium                 15,001.16

Policy No:      01-CCP-0638746

Class:          Commercial and/or Combined     Government Levy            300.02
                Packages

Effective Date: 02-09-2002

Insurer:        Eagle Star Insurance Co. (Ire) Ltd.

                                               TOTAL AMOUNT DUE    EUR 15,301.18

                             TRANSACTION DESCRIPTION

   REVISED COMBINED POLICY - RISK ADDRESS - UNIT B14 BALLYCOOLIN IND ESTATE.

      YOUR PREMIUM IS NOW DUE FOR PAYMENT, PLEASE FORWARD YOUR REMITTANCE:

Any material alterations in the facts last disclosed in connection with this
Insurance which could affect insurers views about the cover given or premium
charged must be advised to us to pass on to your insurers. This is for your own
protection, as failure to disclose may mean that your policy will not provide
you with the cover you require, or may invalidate the policy altogether.

SUBJECT OTHERWISE TO THE TERMS, CONDITIONS AND EXCLUSIONS OF THE POLICY.

ISSUED IN PURSUANCE OF SECTION 30 OF THE INVESTMENT INTERMEDIARIES ACT 1995

All insurances are effected on the express condition that pending receipt of the
premium from the Insured. ACM reserve the right notwithstanding delivery of
policy of receipt to the Insured to cancel the policy, obtain a refund from the
Insurers and apply same in a reduction of the amount due by the Insured.

ISSUED IN PURSUANCE OF SECTION 52 OF THE INSURANCE ACT, 1989.

REMITTANCE ADVICE - PLEASE DETACH AND RETURN WITH YOUR PAYMENT DETAILING YOUR
ACCOUNT NUMBER ON THE REVERSE OF YOUR CHEQUE/DRAFT

Client Name:    Hitech Plating Ltd

Invoice No:     M00010833                 TOTAL AMOUNT DUE          EUR15,301.18<PAGE>
                                                                Exhibit 10.13

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (the "Agreement") is entered into as of
October 8, 2003 by and between Kinetics Holdings Corporation, a Delaware
corporation (the "Employer," "Kinetics" or "Company"), and John R. Ferron (the
"Employee").

         WHEREAS, Employer, a current employee of Kinetics, desires to retain
         the services of Employee, and Employee desires to continue to provide
         his services in exchange for compensation, Employer' hereby agrees that
         it shall offer to continue to employ Employee, and Employee agrees that
         he shall accept such continued employment, under the terms and
         conditions hereinafter set forth, the parties hereby agree as follows.

         1.       Position and Title. Employee will be employed by Kinetics as
                  its Chief Financial Officer upon the date hereof (the
                  "Effective Date") and continuing thereafter until December 31,
                  2005 (the "Term"), or until earlier termination pursuant to
                  Section 6. Employee will have overall responsibility for the
                  management of the Company's financial and administrative
                  affairs, and such other duties as the Company may reasonably
                  require, and shall report directly to its Chief Executive
                  Officer (the "CEO"). Employee will be expected to devote
                  Employee's full working time and attention to the business of
                  Kinetics, and Employee will not render services to any other
                  business without the prior approval of the CEO or, directly or
                  indirectly, engage or participate in any business that is
                  competitive in any manner with the business of Kinetics.
                  Employee will also be expected to comply with and be bound by
                  the Company's operating policies, procedures and practices
                  that are from time to time in effect during the term of
                  Employee's employment.

         2.       Cash Compensation.

         Base Salary. Employee's annual base salary is $292,500. Employee's
         annual base salary shall be reviewed and increased from time to time at
         the discretion of the CEO, in consultation with the Compensation
         Committee

         Bonus Compensation. Employee's cash bonus for 2003 shall be $200,000,
         and shall be payable upon the execution hereof. Employee's performance
         bonus in each of 2004 and 2005 shall be earned on the basis of
         employee's performance against a defined set of metrics, to be
         determined through agreement by the Employee and the CEO (in
         consultation with the Compensation Committee), and shall be in writing.
         For such periods, Employee would be eligible for a bonus equal to
         30%-120% of his then-current base salary. Eligibility for the 2004 and
         2005 bonus shall be dependant upon continued employment including being
         on the payroll on the last day of each year. All unpaid amounts of
         Employee's annual bonus shall be paid not later than the 91st day of
         the following year.

3.       Vacation: Employee shall be eligible for three (3) weeks of vacation
         annually, which shall accrue pursuant to the Company's normal vacation
         accrual policy.

4.       Other Benefits. Employee will be eligible for the normal health
         insurance, 401(k), any employee stock purchase plan and other benefits
         that are offered to all Kinetics senior executives of similar rank and
         status.

<PAGE>

5.       Stock Options. Employee shall be eligible to participate in the
         Company's employee equity compensation programs at a level consistent
         with that of other Kinetics senior executives of similar rank and
         status and as provided by the program or plan.

6.       Employment and Termination. Employee's employment with Kinetics will be
         at-will and may be terminated by Employee or by Kinetics at any time
         for any reason. Employee may terminate his employment upon written
         notice to the CEO for any reason, including "Good Reason," as provided
         below;

               a.       Employee may terminate his employment upon written
                        notice to the CEO at any time at Employee's discretion
                        without Good Reason ("Voluntary Termination");

               b        Employee may terminate his employment upon written
                        notice to the CEO at any time at Employee's discretion
                        with Good Reason (an "Constructive Termination");

               c.       Kinetics may terminate Employee's employment upon
                        written notice to Employee at any time following a
                        determination by the CEO, the Compensation Committee or
                        the Board, upon a finding that there is "Cause," as
                        defined below, For such termination ("Termination for
                        Cause");

               d.       Kinetics may terminate Employee's employment upon
                        written notice to Employee at any time in the sole
                        discretion of the CEO, the Compensation Committee or the
                        Board, without a determination that there is Cause for
                        such termination ("Termination without Cause");

               e.       Employee's employment will automatically terminate upon
                        Employee's death or upon Employee's disability as
                        determined by the Company ("Termination for Death or
                        Disability"); provided that "disability" shall mean
                        Employee's inability to perform Employee's essential job
                        responsibilities with or without reasonable
                        accommodation Due to the critical importance of this
                        position to the Company, it is agreed that it would be
                        an undue hardship for the Employee to be on a medical
                        leave of absence for a period exceeding 180 consecutive
                        days or 180 days in the aggregate in any 12-month
                        period.

7.       Definitions. As used in this Agreement, the following terms have the
         following meanings:

               a.       "Good Reason" means:

                             i.      a material reduction in Employee's duties
                                     that is inconsistent with Employee's
                                     position as Chief Financial Officer of
                                     Kinetics or a change in Employee's
                                     reporting relationship such that Employee
                                     no longer report directly to the CEO;

                             ii.     Employee's no longer being Chief Financial
                                     Officer of Kinetics or, in the case of a
                                     Change in Control, of the surviving entity
                                     or acquirer that results from any Change in
                                     Control;

                             iii.    any reduction in Employee's base annual
                                     salary or target bonus (other than in
                                     connection with a general decrease in the
                                     salary or target bonuses for all officers
                                     of Kinetics) without Employee's consent;

                             iv.     a material breach by Kinetics of any of
                                     its obligations hereunder after providing
                                     Kinetics with written notice and an
                                     opportunity to cure within 30 business
                                     days;

                             v.      a requirement by Kinetics that Employee
                                     relocate Employee's principal office to a
                                     facility more than 50 miles from Kinetics'
                                     current headquarters; or

<PAGE>
                             vi.     failure of any successor to assume this
                                     agreement pursuant to Section 14(b) below.

               b.       "Cause" means:

                             i.      gross negligence or willful misconduct in
                                     the performance of Employee's duties to
                                     Kinetics that has resulted or is likely to
                                     result in substantial and material damage
                                     to Kinetics. No act or failure to act by
                                     Employee shall be considered "willful" if
                                     done or omitted by Employee in good faith
                                     with reasonable belief that Employee's
                                     action or omission was in the best
                                     interests of Kinetics.

                             ii.     material failure in the performance of
                                     Employee's duties to Kinetics (other than
                                     gross negligence or willful misconduct
                                     described above) after a written demand for
                                     substantial performance is delivered to
                                     Employee by the Company which specifically
                                     identifies the manner in which the Company
                                     believes Employee have not substantially
                                     performed Employee's duties and Employee
                                     have been provided with a reasonable
                                     opportunity, of not less than 30 days, to
                                     cure any alleged material failure in
                                     performance;

                             iii.    commission of any act of fraud with
                                     respect to Kinetics; or

                             iv.     conviction of a felony or a crime
                                     involving moral turpitude either of which
                                     causes or reasonably could cause material
                                     harm to the business and affairs of
                                     Kinetics.

               c.       "Change in Control" means

                             i.      The acquisition (other than from the
                                     Company) by any person, entity or "group",
                                     within the meaning of section 13(d) (3) or
                                     14 (d) (2) of the Securities and Exchange
                                     Act of 1934 (the "Exchange Act"),
                                     (excluding, for this purpose, Kinetics or
                                     its subsidiaries, or any employee benefit
                                     plan of Kinetics or its subsidiaries which,
                                     or any current holder of more than 5% of
                                     the Company's outstanding securities whom
                                     acquires beneficial ownership of voting
                                     securities of Kinetics) of beneficial
                                     ownership (within the meaning of Rule 13d-3
                                     promulgated under the Exchange Act) of 50%
                                     or more of either the then outstanding
                                     shares of common stock or the combined
                                     voting power of the Kinetics' then
                                     outstanding voting securities entitled to
                                     vote generally in the election of
                                     directors; or

                             ii.     the individuals who, as of the date
                                     hereof, constitute the Board (the
                                     "Incumbent Board") cease for any reason to
                                     constitute at least a majority of the
                                     Board, provided that any person becoming a
                                     director subsequent to the date hereof
                                     whose election, or nomination for election
                                     by Kinetics' shareholders, was approved by
                                     a vote of at least a majority of the
                                     directors then comprising the Incumbent
                                     Board (other than an election or nomination
                                     of an individual whose initial assumption
                                     of the office is in connection with an
                                     actual or threatened election contest
                                     relating to the election of the directors
                                     of Kinetics, as such terms are used in Rule
                                     14a-l1 of Regulation 14A promulgated under
                                     the Exchange Act) shall be, for the
                                     purposes of this Agreement, considered as
                                     though such person were a member of the
                                     Incumbent Board; or

                             iii.    Approval of the stockholders of Kinetics
                                     of a reorganization, merger or
                                     consolidation, in each case, with respect
                                     to which persons who were the stockholders
                                     of Kinetics immediately prior to such
                                     reorganization, merger or consolidation do
                                     not, immediately thereafter, own more than
                                     50% of the combined voting power entitled
                                     to vote generally in the election of
                                     directors of the reorganized, merged or
                                     consolidated company's then outstanding
                                     voting securities, or a liquidation or
                                     dissolution of Kinetics or of the sale of
                                     all or substantially all of the assets of
                                     Kinetics.

<PAGE>

8.       Separation Benefits. Upon termination of Employee's employment with
         Kinetics for any reason, Employee will receive payment for all unpaid
         salary and vacation accrued to the date of Employee's termination of
         employment; and Employee's benefits will be continued under Kinetics'
         then existing benefit plans and policies for so long as provided under
         the terms of such plans and policies and as required by applicable law.
         Under certain circumstances, subject to Employee's execution of a
         termination and general release agreement, Employee will also be
         entitled to receive severance benefits as set forth below. Kinetics'
         termination and general release agreement will contain provisions
         specifying that Employee will not solicit employees for a period of one
         year after any final payment, that Employee shall not compete to the
         extent legally enforceable while receiving payments from the Employer,
         that the termination and general release agreement shall be
         confidential, that neither Employee nor Kinetics shall disparage the
         other party, and that Employee shall have no waivable claims against
         Kinetics that survive that agreement, other than as set forth in
         Section 13, below. Within sixty days of the signing of this Agreement
         the parties shall agree upon a model termination and general release
         agreement available to be used in conjunction with this Section.

9.       Severance Benefits.

               a.       In the event of a Voluntary Termination or a Termination
                        for Cause, Employee will not be entitled to Severance
                        Benefits. In the event of Employee's Constructive
                        Termination or Termination without Cause during the Term
                        of this Agreement after September 30, 2003, Employee
                        will be entitled to:

                             i.      A severance payment equal to eighteen
                                     months of Employee's then-current annual
                                     base salary. All amounts due under this
                                     Section 9 shall be payable as follows: 20%
                                     within seven days, 30% within 60 days, and
                                     the remaining unpaid balance within 180
                                     days from the date of such termination, in
                                     accordance with Kinetics' normal payroll
                                     practices with such payroll deductions and
                                     withholdings as are required by law,
                                     provided, that Employee provide Kinetics
                                     with reasonable transition services during
                                     such period after the date of termination;
                                     and

                             ii.     Accelerated vesting and exercisability of
                                     that portion of Employee's outstanding
                                     unvested options to purchase Kinetics
                                     Common Stock that would have vested within
                                     two years from the date of the Constructive
                                     Termination or Termination without Cause,
                                     with all vested options exercisable for a
                                     period of two years from the date of
                                     Employee's Constructive Termination or
                                     Termination without Cause.

         For the purpose of this agreement, termination by death or disability
         shall not create eligibility for the severance benefits provided for a
         Constructive Termination or a Termination Without Cause.

               b.       If Employee's severance and other benefits provided for
                        in this Section 9 constitute "parachute payments" within
                        the meaning of Section 280G of the Code and, but for
                        this subsection, would be subject to the excise tax
                        imposed by Section 4999 of the Internal Revenue Code,
                        then Employee's severance and other benefits under this
                        Section 9 will be payable, at Employee's election,
                        either in full or in such lesser amount as would result,
                        after taking into account the applicable federal, state
                        and local income taxes and the excise tax imposed by
                        Section 4999, in Employee's receipt on an after-tax
                        basis of the greatest amount of severance and other
                        benefits.

               c.       No payments due Employee hereunder shall be subject to
                        mitigation or offset.

<PAGE>

10.      Indemnification Agreement. Within 60 days of the Effective Date,
         Kinetics will enter into a standard form of indemnification agreement
         for officers and directors to indemnify Employee against certain
         liabilities Employee may incur as an officer or director of Kinetics.
         It is intended that this agreement will provide for the maximum
         indemnification reasonably available for acts or failure to act when
         the conduct is within the scope of the officer's or director's actual
         or apparent authority.

11.      No Solicitation. During the term of Employee's employment with Kinetics
         and for one year thereafter, Employee will not, on behalf of Employee
         or any third party, solicit or attempt to induce any employee of
         Kinetics to terminate his or her employment with Kinetics.

12.      Arbitration. The parties agree that any dispute regarding the
         interpretation or enforcement of this agreement shall be decided by
         confidential, final and binding arbitration conducted by Judicial
         Arbitration and Mediation Services ("JAMS") under the then existing
         JAMS rules rather than by litigation in court, trial by jury,
         administrative proceeding or in any other forum. The filing fees and
         arbitrator's fees and costs in such arbitration will be borne by
         Kinetics. The parties will be entitled to reasonable discovery of
         essential matters as determined by the arbitrator. In the arbitration,
         the parties will be entitled to all remedies that would have been
         available if the matter were litigated in a court of law.

13.      Survival. In the event that this Agreement expires or is terminated,
         Kinetics' payment obligations to Employee as set forth herein shall
         survive such expiration or termination. Following the expiration
         hereof, any continuation of Employee's employment with the Company
         shall be unaffected by the terms hereof, and shall be upon terms
         determined by the Company and subject to the Company's regular
         employment policies applicable to other senior executives of Kinetics.

14.      Miscellaneous.

             a.       Attorneys Fees. If a legal action or other proceeding is
                      brought for enforcement of this agreement because of an
                      alleged dispute, breach, default, or misrepresentation in
                      connection with any of the provisions of this agreement,
                      the prevailing party shall be entitled to recover
                      reasonable attorneys' fees and costs incurred, both before
                      and after judgment, in addition to any other relief to
                      which they may be entitled.

             b.       Successors. This agreement is binding on and may be
                      enforced by Kinetics and its successors and assigns and is
                      binding on and may be enforced by Employee and Employee's
                      heirs and legal representatives. Any successor to Kinetics
                      or substantially all of its business (whether by purchase,
                      merger, consolidation or otherwise) will in advance assume
                      in writing and be bound by all of Kinetics' obligations
                      under this agreement.

             c.       Notices. Notices under this agreement must be in writing
                      and will be deemed to have been given when personally
                      delivered or two days after mailed by U.S. registered or
                      certified mail, return receipt requested and postage
                      prepaid. Mailed notices to Employee will be addressed to
                      Employee at the home address that Employee has most
                      recently communicated to Kinetics in writing. Notices to
                      Kinetics will be addressed to its CEO with copy to the
                      Chief Financial Officer at Kinetics' corporate
                      headquarters.

             d.       Waiver. No provision of this agreement will be modified or
                      waived except in writing signed by Employee and an officer
                      of Kinetics duly authorized by its Board of Directors.

<PAGE>

                  No waiver by either party of any breach of this agreement by
                  the other party will be considered a waiver of any other
                  breach of this agreement.

         e.       Entire Agreement. This agreement, along with the
                  Confidentiality, Development and Nondisclosure Agreement
                  between Employee and the Company dated on or about February
                  28, 2000, represents the entire agreement between us
                  concerning the subject matter of Employee's employment by
                  Kinetics, unless otherwise referenced in this Agreement

         f.       The provisions of this Agreement shall be deemed severable and
                  the invalidity or unenforceability of any provision shall not
                  affect the validity and enforceability of the other provisions
                  hereof. If any provision of this Agreement is unenforceable
                  for any reason whatsoever, such provision shall be
                  appropriately limited and given effect to the extent that it
                  may be enforceable.

         g.       Governing Law. This agreement will be governed by the laws of
                  the State of California without reference to conflict of laws
                  provisions.

The parties hereto acknowledge and agree to the terms of this Agreement by their
signatures below, effective as of the date first written above.

KINETICS GROUP, INC.                              EMPLOYEE

/s/ DAVID J. SHIMMON                              /s/ JOHN P. FERRON
----------------------------                      -----------------------------
David  J. Shimmon, CEO                            John P. Ferron

Acknowledged & Agreed this_____________day of October 2003 by the Compensation
Committee of the Company's Board of Directors.

/s/ WILLIAM MATTHES
------------------------------
William Matthes, Member

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