Document:

SPEEDEMISISONS, INC.

                           AMENDED EMPLOYMENT AGEEMENT

This AMENDED  EMPLOYMENT  AGREEMENT  (this  "Agreement")  is made by and between
Speedemissions,  Inc. a Florida  corporation  (the  "Employer"),  and Richard A.
Parlontieri,  an  individual  resident  of  Georgia  (the "the  Employee"),  and
initially  effective  as of the  15th day of  September,  2003  (the  "Effective
Date").

The Employer presently employs the Employee as its President and Chief Executive
Officer (CEO). The Employer  recognizes that the Employee's  contribution to the
growth and  success of the  Employer is  substantial.  The  Employer  desires to
provide for the continued employment of the Employee and to make certain changes
in the Employee's employment arrangements which the Employer has determined will
reinforce and encourage the continued dedication of the Employee to the Employer
and will promote the best  interests of the Employer and its  shareholders.  The
Employee  is  willing  to  continue  to serve  the  Employer  on the  terms  and
conditions herein provided.

In consideration of the forgoing,  the mutual covenants  contained  herein,  and
other good and valuable consideration,  the receipt and sufficiency of which are
hereby acknowledged,  the parties hereto,  intending to be legally bound, hereby
agree that on the Effective Date:

1. EMPLOYMENT.

     (a)  The Employer shall  continue to employ the Employee,  and the Employee
          shall continue to serve the Employer, as President and Chief Executive
          Officer upon the terms and conditions  set forth herein.  The Employee
          shall have such authority and  responsibilities as are consistent with
          his position and which may be set forth in this  Agreement or assigned
          by the Board of Directors from time to time. The Employee shall devote
          his  full  business  time,   attention,   skill  and  efforts  to  the
          performance of his duties hereunder,  except during periods of illness
          or periods of  vacation  and  leaves of  absence  consistent  with the
          Employer's  policies.  The Employee may devote  reasonable  periods of
          time to  perform  charitable  and other  community  activities  and to
          manage  his  personal  investments;   provided,   however,  that  such
          activities  will not materially  interfere with the performance of his
          duties  hereunder and will not be in conflict or competitive  with, or
          adverse to , the  interests of the  Employer.  Under no  circumstances
          will the  Employee  work  for any  competitor  or have  any  financial
          interest in any competitor of the Employer;  provided,  however,  that
          the  Employee  may  invest up to 1% of the  publicly  traded-stock  or
          securities of any company  whose stock or  securities  are traded on a
          national exchange.
<PAGE>

     (b)  The Employee  shall not be required to relocate from the  metropolitan
          Atlanta, Georgia area.

2. TERM.

Unless earlier terminated or as provided herein, the Employee's employment under
this  Agreement  shall be for an initial  term of three (3) years (the  "Initial
Term").  Not less than thirty (30) days prior to each  anniversary  date of this
Agreement  either party may provide written notice to the other that it does not
desire  to extend  this  Agreement,  and that it  elects to have this  Agreement
terminate at the end of the then current Term (a "Non- Renewal Notice").  In the
absence of a Non-Renewal Notice, on each anniversary date of this Agreement, the
Term of this Agreement shall be extended  automatically  (without further action
of the Employer or  Employee)  for a period one (1)  additional  year (each such
additional period, a "Term Extension"). The Initial Term, together with all Term
Extensions  are  hereinafter  collectively  referred  to as the  "Term"  of this
Agreement.

3. COMPENSATION AND BENEFITS.

     (a)  The Employer shall pay the employee a salary at a rate of $180,000 per
          annum (the "Base Salary") in accordance  with the salary  practices of
          the Employer.  Commencing as of the first anniversary of the Effective
          Date, and thereafter on each  subsequent  anniversary of the Effective
          Date during the Term,  the Base  Salary  shall be  increased,  but not
          decreased,  by an amount  equal to the  greater of (i) such  amount as
          shall be  determined  by the  Compensation  Committee  of the Board of
          Directors of the Employer; or (ii) three percent (3%).

     (b)  The Employee shall  participate in any retirement,  welfare,  deferred
          compensation,  life, health,  disability insurance,  and other benefit
          plans or programs paid by the Employer now or hereafter  applicable to
          the Employee.  The Employer  shall pay (or reimburse the Employee for)
          the  actual  cost of the  Employee's  health  /dental  insurance  (for
          himself and his wife), life insurance and disability  insurance as and
          when due and payable to the Employee's health insurance company,  life
          insurance company and disability  insurance company until the Employer
          adopts and puts into effect a benefits program providing health,  life
          and disability  insurance for its executive  employees,  which at such
          time will be paid by the Employer.  This  subsection  (b) shall not be
          construed  to required  the  Employer to  establish  any such plans or
          programs or to prevent the Employer from modifying or terminating  any
          such plans or programs,  and no such action or failure  thereof  shall
          affect this  Agreement;  provided,  however,  that in the event of any
          reduction in the group medical and  hospitalization  benefits provided
          to  the  Employee,  the  salary  payable  to  the  Employee  shall  be
          increased,  as of the effective date of such reduction, by that amount
          necessary to enable the Employee to supplement  the benefits  provided
          by the Employer to maintain the level of benefits then provided to the
          Employee.
<PAGE>

     (c)  The Employee  shall  receive four (4) weeks of paid  vacation for each
          calendar year during the Term. Scheduling of vacation shall be subject
          to the prior  approval of the Employer,  which  approval  shall not be
          unreasonably  withheld.  Vacation  time shall not  accrue,  and if the
          Employee  prior to the end of any  calendar  year shall not use all of
          his  vacation  time  for  such  year,  such  vacation  time  shall  be
          forfeited.

     (d)  The Employer  shall  continue to reimburse the Employee for reasonable
          travel  and other  expenses,  including  a monthly  car  allowance  of
          $600.00,  related to the  Employee's  duties  which are  incurred  and
          accounted  for in accordance  with the  Employer's  standard  business
          practices.

     (e)  The Employee shall receive a cellular  phone  allowance of $200.00 per
          month.

     (f)  The  Employer  shall  reimburse  the  Employee  for  dues  paid by the
          Employee for membership in such professional  organizations and eating
          clubs as shall,  from time to time,  be approved  by the  Compensation
          Committee of the Board of Directors.

     (g)  Employee  shall be  eligible  to  receive  cash  bonuses  based on the
          Employee's  achievement of specified  goals and criteria.  These goals
          and criteria may include both annual and long-term  goals, may provide
          for vesting  over a specified  time period,  and shall be  established
          annually by the  Compensation  Committee of the Board of Directors and
          attached to and made part of this Agreement (the "Bonus Plan"). Unless
          provided  otherwise in any  particular  Bonus Plan,  the  Compensation
          Committee shall determine  whether the Employee has achieved the goals
          and criteria for the  applicable  quarter and, if so the amount of the
          quarterly bonus to be paid to the Employee, as soon as practical after
          the operating  and financial  results of the Employer for the relevant
          quarter  are made know to the Board.  Any bonus so  determined  by the
          Compensation  Committee  will vest in favor of the  Employee as of the
          last day of the quarter to which such bonus  relates.  Each  quarterly
          cash bonus shall be paid to the Employee as soon as practicable  after
          the Compensation Committee's final determination.  For the purposes of
          this Section 3(b), (i) the Employer shall establish the bonus criteria
          for 2004 not later than December 1, 2003,  and (ii) the first calendar
          quarter to be considered for a bonus payment shall cover the months of
          January,   February  and  March  2004  (the  "First   Quarter")   (and
          thereafter, every calendar quarter during the Term).

     (h)  The  Employee  is  hereby  granted  options  (in  the  aggregate,  the
          "Options")  to  subscribe  for and  purchase  from the  Employer  four
          hundred  thousand  (400,000)  shares of the Company's Common Stock (in
          the aggregate,  the "Option  Stock") at a price per share equal to the
          Fair Market  Value of the of the Option  Stock as of the date  hereof.
          "Fair  Market  Value"  shall mean two dollars  ($2.00) per share.  The
          Options may be exercised  by the Employee or members of his  immediate
          family. Upon the execution of this Agreement  one-fourth,  or 100,000,
          of the Options are fully vested.  The remaining  300,000  Options will
          vest in three  equal  parts of  250,000  Options on each of October 1,
          2004;  October 1, 2005; and October 1, 2006.  Upon a Change of Control
          (as  hereinafter  defined),  or termination  Without or With Cause (as
          hereinafter   defined),   all  Options  remaining  unvested  shall  be
          automatically vested and may be immediately exercised. All other terms
          and  conditions  relating  to the  Options  shall  be set  forth  in a
          separate Option Agreement between the Employee and Employer; provided,
          however,  that the terms and conditions of the Option  Agreement shall
          not conflict with this subsection (h).

     (i)  All  payments  by  the  Employer  to the  Employee  pursuant  to  this
          Agreement   shall  be  subject  to   applicable   withholding   rules,
          regulations and requirements.
<PAGE>

4. TERMINATION.

     (a)  The Employee's employment under this Agreement may be terminated prior
          to the end of the Term only as follows:

          (i)  upon the death of the Employee;

          (ii) upon  the  Disability  of  the  Employee  for  which   reasonable
               accommodation is unavailable. For the purposes of this Agreement,
               "Disability"  shall  conclusively be deemed to have occurred with
               respect to the Employee  (i) if the  Employee  shall be receiving
               payments  pursuant  to a policy of  long-term  disability  income
               insurance;   (ii)  if  the  Employee   shall  have  no  long-term
               disability  income  coverage  then in  force  and  any  insurance
               company  insuring  the  Employee's  life shall agree to waive the
               premiums  due on such policy  pursuant to a long-term  disability
               waiver of premium provision in the contract of life insurance; or
               (iii) if the Employee shall have no long-term  disability  waiver
               of premium  provision in any contract of life insurance,  then if
               the Employee  shall be receiving  long-term  disability  benefits
               from or through  the Social  Security  Administration;  provided,
               however,  that in the  event  the  Employee's  disability  shall,
               otherwise  and in  good  faith,  come  into  question  (and,  for
               purposes of this proviso,  "disability"  shall mean the permanent
               and continuous inability of the Employee to perform substantially
               all  of the  duties  being  performed  immediately  prior  to his
               disability coming into question),  and a dispute shall arise with
               respect   thereto,   then   the   Employee   (or   his   personal
               representatives)  shall  appoint a medical  doctor,  the Employer
               shall appoint a medical  doctor,  and said two (2) doctors shall,
               in turn,  appoint a third party medical  doctor who shall examine
               Employee  to  determine  the  question  of  disability  and whose
               determination   shall  be  binding   upon  all  parties  to  this
               Agreement.   For  purposes  of  this  Agreement,   a  "reasonable
               accommodation"  is one that does not impose undue hardship on the
               Employer;

          (iii) upon the determination of Cause for termination,  in which event
               such  employment  may be  terminated  by  written  notice  at the
               election of the Employer. For purposes of this Agreement, "Cause"
               shall  consist of any of (A) the  commission by the Employee of a
               willful  act  (including,  without  limitation,  a  dishonest  or
               fraudulent  act) or a grossly  negligent  act,  or the willful or
               grossly  negligent  omission  to act by the  Employee,  which  is
               intended  to  cause,  causes,  or is  reasonably  likely to cause
               material  harm to the  Employer  (including  harm to its business
               reputation),   (B)  the   indictment  of  the  Employee  for  the
               commission or  perpetration  by the Employee of any felony or any
               commission or  perpetration  by the Employee of any felony or any
               crime involving  dishonesty,  moral  turpitude or fraud,  (C) the
               material  breach  by the  Employee  of this  Agreement  that,  if
               susceptible of cure,  remains uncured ten days following  written
               notice to the Employee of such breach,  (D) the exhibition by the
               Employee  of a  standard  of  behavior  within  the  scope of his
               employment  that is materially  disruptive to the orderly conduct
               of  the  Employer's  business  operations   (including,   without
               limitation,  substance or alcohol abuse) to a level which, in the
               Board of  Directors'  good  faith  and  reasonable  judgment,  is
               materially  detrimental to the Employer's best interest,  that if
               susceptible of cure,  remains uncured ten days following  written
               notice to the Employee of such specific in appropriate  behavior,
               or (E)  the  failure  of the  Employee  to  render  the  services
               hereunder in accordance  with a reasonable  performance  standard
               determined by the Board of Directors; or

          (iv) upon 30 days  written  notice  thereof to the  Employee  from the
               Employer  (termination  "Without  Cause"),  provided  that in the
               event of any such termination  Without Cause,  Section 4(e) shall
               be applicable thereto.
<PAGE>

     (b)  If the Employee's  employment is terminated  because of the Employee's
          death,  the  Employee's  estate shall  receive (i) any sums due him as
          Base Salary and reimbursement of expenses through the end of the month
          during which death  occurred,  (ii) any bonus earned or accrued  under
          the  quarterly  Bonus Plan  through the date of death  (including  any
          amounts awarded for previous years but which were not yet vested), and
          (iii) a pro rata share of any annual bonus with respect to the current
          fiscal  year  which had been  earned as of the date of the  Employee's
          death.

     (c)  During the period of any disability  leading up to the  termination of
          the  Employee's  employment  as a result of  Disability,  the Employer
          shall continue to pay the Employee his full Base Salary at the rate in
          effect and all  perquisites  and other benefits (other than any bonus)
          until the Employee  becomes  eligible for benefits under the long-term
          disability  plan or  insurance  program  maintained  by the  Employer,
          provided  that the  amount  such  payments  to the  Employee  shall be
          reduced by the sum of the amounts, if any, payable to the Employee for
          the same period  under any  disability  benefit or pension plan of the
          Employer or its subsidiaries.  Furthermore, the Employee shall receive
          (i) any bonus earned or accrued  under the Bonus Plan through the date
          of incapacity  (including  any amounts  awarded for previous years but
          which  were not yet  vested)  and (ii) a pro rata  share of any annual
          bonus with respect to the current fiscal year which had been earned as
          of the date of the Employee's Disability.

     (d)  If the  Employee's  employment is terminated by the Employer for Cause
          as  provided  above,  or  if  the  Employee   resigns  (except  for  a
          termination of employment pursuant to Section 4(f) or a termination of
          employment  by the Employee  pursuant to  subsection  (i) below),  the
          Employee  shall  receive  (i) any  sums  due him as  Base  Salary  and
          reimbursement of any expenses,  (ii) any bonus earned or accrued under
          the Bonus Plan  through the date of  termination  and, and (iii) a pro
          rata share of any annual bonus with respect to the current fiscal year
          which  had  been  earned  as  of  the  date  of  such  termination  or
          resignation;  provided, however, that any Options not yet vested as of
          the date of such  termination  or  resignation  shall lapse as of such
          date of termination or resignation.

     (e)  If the  Employee's  employment is  terminated by the Employer  Without
          Cause,   the  Employer   shall  pay  to  the  Employee  (i)  severance
          compensation  in an amount  equal to 100% of his  then-current  annual
          Base Salary  multiplied by three (3), which amount shall be paid in 36
          equal  monthly  installments  commencing  on the 1st day of the  month
          following such termination; (ii) any bonus earned or accrued under the
          Bonus Plan through the date of termination,  and (ii) a pro rata share
          of any annual bonus with respect to the current  fiscal year which had
          been earned as of the date of the  Employee's  termination;  provided,
          however, that Section 4(f) shall apply instead of this Section 4(e) to
          any termination Without Cause after a Change in Control.

     (f)  Upon a Change in Control,  the Employee may terminate  his  employment
          hereunder  for any  reason  upon  delivery  of notice to the  Employer
          within a 90-day period  beginning  upon the  occurrence of a Change in
          Control.  If the Employee  terminates his employment  pursuant to this
          Section 4(f) or if the Employer  terminates the Employee Without Cause
          after a Change in Control,  the  restrictive  covenants  contained  in
          Section 9 shall apply and, in addition, the Employee shall be entitled
          to the  following:  (i) the  Employer  shall pay the  Employee in cash
          within  15 days of such  termination  any sums due him as base  salary
          and/or reimbursement of expenses through the date of such termination,
          plus any bonus earned or accrued under the Bonus Plan through the date
          of termination  (including any amounts  awarded for previous years but
          which  were not yet  vested)  and a pro rata  share of any bonus  with
          respect to the  current  fiscal  year which had been  earned as of the
          date of the Employee's termination and (ii) the Employer shall pay the
          Employee in cash within 15 days of such  termination date one lump sum
          payment in an amount equal to the Employee's  then current annual Base
          Salary multiplied by three (3).
<PAGE>

     (g)  With the  exceptions  of the  provisions  of this  Section  4, and the
          express  terms of any  benefit  plan  under  which the  Employee  is a
          participant,  upon  termination  of  the  Employee's  employment,  the
          Employer  shall  have  no  obligation  to the  Employee  for,  and the
          Employee waives and relinquishes, any further compensation or benefits
          (exclusive  of  COBRA  benefits).  At the time of  termination  of the
          employment,   the  Employee   shall  enter  into  a  form  of  release
          acknowledging such remaining obligations and discharging the Employer,
          as  well as the  Employer's  officers,  directors  and  employee  with
          respect to their  actions for or on behalf of the  Employer,  from any
          other claims or obligations  arising out of or in connection  with the
          Employee's employment by the Employer,  including the circumstances of
          such termination.

     (h)  In the event that the  Employee's  employment  is  terminated  for any
          reason and the Employee serves as a Director of the Employer or of any
          subsidiary  of the  Employer,  the  Employee  shall (and does  hereby)
          tender his resignation from such positions effective as of the date of
          termination.

     (i)  If the Employee shall  terminate his employment as a result of (i) any
          failure to elect or reelect, or appoint or reappoint,  the Employee to
          the position of  President  and CEO,  unless  agreed to by Employee by
          writing;  (ii) any material  change by the Employer in the  Employee's
          function,  duties,  responsibility,   importance  or  scope  from  the
          position and attributes  thereof  described in this Agreement,  unless
          agreed to by  Employee  in  writing;  (iii) any  requirement  that the
          Employee  perform   substantially   all  of  his  duties  outside  the
          metropolitan Atlanta, Georgia area; (iv) the liquidation, dissolution,
          consolidation  or merger  of the  Employer  other  than in a Change of
          Control  transaction;  or  (v)  any  other  material  breach  of  this
          Agreement  by the  Employer  which  shall not be cured  within 30 days
          after receipt of written  notice of the same from the  Employee,  then
          the  Employee  shall  be  paid  the  amounts  determined  pursuant  to
          subsection (f) above.

     (j)  The parties intend that the severance  payments and other compensation
          provided  herein are for  reasonable  compensation  for the Employee's
          service to the Employer  and shall not  constitute  "excess  parachute
          payments"  within  the  meaning of  Section  280G(b)  of the  Internal
          Revenue Code of 1986 and any regulations thereunder. In the event that
          the  Employer's  independent  accountants  acting as auditors  for the
          Employer  on the  date of a  Change  in  Control  determine  that  the
          payments provided herein constitute "excess parachute payments",  then
          the Employee'  compensation payable hereunder shall be decreased so as
          to equal an amount that is $1.00 less than three times the  Employee's
          "base  amount",  as that term is  defined  in  Section  280G(b) of the
          Internal  Revenue  Code,  if,  and only if,  reducing  the  Employee's
          compensation will put the Employee in a better after-tax position than
          if the Employee's compensation was not reduced.
<PAGE>

5. OWNERSHIP OF WORK PRODUCT.

The  Employer  shall  own all Work  Product  arising  during  the  course of the
Employee's  employment (prior,  present or future).  For purposes hereof,  "Work
Product"  shall  mean all  intellectual  property  rights,  including  all Trade
Secrets,   U.S.  and  international   copyrights,   patent  rights,   and  other
intellectual property rights in any programming, documentation, technology, work
of authorship  or other work product that relates to the Employer,  its business
or its  customers  and that  Employee  conceives,  develops,  or delivers to the
employer hereunder, at any time during his employment,  during or outside normal
working hours,  in or away from the  facilities of the Employer,  and whether or
not  requested by the  Employer.  The  Employee  agrees to take such actions and
execute  such  further  acknowledgments  and  assignments  as the  Employer  may
reasonably request to give effect to this provision.

6. PROTECTION OF TRADE SECRETS.

The  Employee  agrees to maintain in strict  confidence,  except as necessary to
perform  his  duties for the  Employer,  and the  Employee  agrees not to use or
disclose, any Trade Secrets of the Employer during or after his employment.  For
the purposes  hereof,  "Trade  Secret"  means  information,  including,  without
limitation,   technical  or  non-technical   data,  a  formula,   a  pattern,  a
compilation,  a program, a device, a method, a technique,  a process, a drawing,
financial  data,  financial  plans,  product plans,  information on customers or
suppliers, which (i) derives economic value, actual or potential, from not being
generally know to, and not being readily ascertainable by proper means by, other
persons who can obtain  economic  value from its  disclosure or use; and (ii) is
the subject of efforts that are reasonable  under the  circumstances to maintain
its secrecy.

7. PROTECTION OF OTHER CONFIDENTIAL INFORMATION.

In addition, the Employee agrees to maintain in strict confidence and, except as
necessary  to perform his duties for the  Employer,  not to use or disclose  any
Confidential  Business Information of the Employer during his employment and for
a period  of 24  months  following  termination  of the  Employee's  employment.
"Confidential   Business  Information"  shall  mean  any  internal,   non-public
information  (other the Trade Secrets already  addressed  above)  concerning the
Employer's  financial  position and results of  operations  (including  revenue,
assets,  net income,  etc.);  annual and long-range  business plans;  product or
service plans;  marketing plans and methods; site plans,  training,  educational
and  administrative  manuals;  customer  and supplier  information  and purchase
histories;  and employee  lists.  The provisions of Sections 6 and 7 above shall
also apply to protect Trade Secrets and  Confidential  Business  Information  of
third partied provided to the Employer under an obligation of secrecy.
<PAGE>

8. RETURN OF MATERIALS.

The Employee shall  surrender to the Employer,  promptly upon its request and in
any event upon termination of the Employee's employment,  all media,  documents,
notebooks,  computer programs,  handbooks,  data files, models,  samples,  price
lists,  drawings,  customer  lists,  prospect  data,  or other  material  in the
Employee's possession or control,  including all copies thereof, relating to the
Employer, its business, or its customers.

9. RESTRICTIVE COVENANTS, AND COVENANT OF NON-DISPARAGEMENT AND COOPERATION.

     (a)  NO  SOLICITATION OF CUSTOMERS.  During the Employee's  employment with
          the  Employer and for a period of 24 months  thereafter,  the Employee
          shall not  (except on behalf of or with the prior  written  consent of
          the Employer),  either  directly or indirectly,  on the Employee's own
          behalf or in the service or on behalf of others, solicit or attempt to
          solicit  Customers  to induce or  encourage  them to acquire or obtain
          from anyone other than the Employer or its subsidiaries any product or
          service  competitive  with or  substitute  for  any of the  Employer's
          Products.  For  purposes  of this  Section,  "Customer"  refers to any
          person or group of persons with whom the Employee had direct  material
          contact  with  regard to the  selling,  delivery,  or  support  of the
          Employer's  products,  including  servicing  such  person's or group's
          account,  during the period of 12 months  preceding  the  solicitation
          date. The  "Employer's  Products"  refers to the products and services
          that  the  Employer  or any  of  its  subsidiaries  or  affiliates  or
          franchisees  offered or sold  within  six  months of the  solicitation
          date. This restriction does not apply after a Change in Control.

     (b)  NO RECRUITMENT OF PERSONNEL. During the Employee's employment with the
          Employer and for a period of 24 months thereafter,  the Employee shall
          not, either directly or indirectly, on the Employee's own behalf or in
          the service or on behalf of others,  solicit or induce any employee of
          the Employer or any of its  subsidiaries or affiliates to leave his or
          her position with the Employer (or the  subsidiary or  affiliate),  or
          recruit or attempt to recruit such persons to accept employment or any
          other position with another business.

     (c)  INDEPENDENT  PROVISIONS.  The provisions in each of the above Sections
          9(a) and 9(b) are independent,  and the lack of  enforceability of any
          one  provision  shall  not  affect  the  enforceability  of any  other
          provision.

     (d)  COVENANT OF  NON-DISPARAGEMENT  AND  COOPERATION.  The Employee agrees
          that he shall not at any time  during or  following  the Term make any
          remarks  disparaging  the conduct or  character of the Employer or the
          Employer's current or former agents, employees,  officers,  directors,
          successors or assigns.  In addition,  the Employee agrees to cooperate
          with  the  Employer,   at  no  extra  cost,   in  any   litigation  or
          administrative  proceedings (e.g., EEOC charges) involving any matters
          with which the Employee was involved during the Employee's  employment
          with the  Employer.  The  Employer  shall  reimburse  the Employee for
          travel  expenses  approved by the Employer  incurred in providing such
          assistance.  This  Section  9(d)  shall  survive  the  termination  or
          expiration of this Agreement.
<PAGE>

10. SUCCESSORS, BINDING AGREEMENT.

This  Agreement  shall be  binding  upon and shall  inure to the  benefit of the
Employer and its successors and assigns. Neither this Agreement nor any right or
interest  hereunder  shall be  assigned  or  transferred  by the  Employee,  his
beneficiaries or legal representatives, except by will or by the laws of descent
and  distribution.  This  Agreement  shall  inure  to  the  benefit  of  and  be
enforceable by the Employee's legal personal representative.

11. NOTICE.

For the purpose of this Agreement, notices and all other communications provided
for in the  Agreement  shall be in writing and shall be deemed to have been duly
given when  personally  delivered  or sent by  certified  mail,  return  receipt
requested,  postage prepaid,  addressed to the respective  address last given by
each party to the other;  provided,  however,  that all notices to the  Employer
shall be directed to the  attention of the Employer with a copy to the Secretary
of the  Employer.  All  notices and  communication  shall be deemed to have been
received on the date of delivery thereof.

12. GOVERNING LAW.

This  Agreement  shall be governed by and  construed  and enforced in accordance
with the laws of the State of Georgia  without  giving effect to any conflict of
law principles  thereof that would result in the  application of the laws of any
other  jurisdiction.  Any action brought by any party to this Agreement shall be
brought and  maintained  in a court of  competent  jurisdiction  in the State of
Georgia.

13. WAIVER.

Failure or delay of either party to insist upon  compliance  with any  provision
hereof  shall  not  operate  as,  and is not to be  construed  as, a  waiver  or
amendment  of such  provision.  Any  express  waiver  of any  provision  of this
Agreement  shall  not  operate  and is not to be  construed  as a waiver  of any
subsequent breach, whether occurring under similar or dissimilar circumstances.

14. ENFORCEMENT.

The Employee agrees that in the event of any breach or threatened  breach by the
Employee of any covenant  contained in Sections 6, 7, 9(a), or 9(b) hereof,  the
resulting  injuries to the Employer would be difficult or impossible to estimate
accurately,  even though injury or damages may result.  Accordingly, an award of
legal damages, if without relief, may be inadequate to protect the Employer. The
Employee,  therefore,  agrees that in the event of any such breach, the Employer
shall be entitled to obtain from a court of competent jurisdiction an injunction
to restrain the breach or anticipated breach of any such covenant, and to obtain
any other available legal, equitable, statutory, or contractual relief.

15. SAVING CLAUSE.

The provisions of this  Agreement  shall be deemed severed and the invalidity or
lack of  enforceability  of any  provision  shall not  affect  the  validity  or
enforceability  of the other  provisions  hereof.  If any provision or clause of
this Agreement, or portion thereof, shall be held by any court or other tribunal
of  competent  jurisdiction  to be illegal,  void,  or not  enforceable  in such
jurisdiction,  the remainder of such provision shall not be thereby affected and
shall be given full effect,  without  regard to the invalid  portion.  It is the
intention of the parties that, if any court construes any provision or clause of
this Agreement,  or any portion thereof, to be illegal, void, or not enforceable
because of the duration, area, or matter of such provision,  and, in its reduced
form, such provision shall be enforceable.
<PAGE>

16. CERTAIN DEFINITIONS.

     (a)  "CHANGE IN CONTROL" shall mean the  occurrence  during the Term of any
          of  the  following  events,  unless  such  event  is  a  result  of  a
          Non-Control Transaction.

          (i)  The  individuals  who,  as of the  date  of this  Agreement,  are
               members of the Board of Directors of the Employer (the "Incumbent
               Board") cease for any reason to constitute at least a majority of
               the Board of Directors of the Employer; provided however, that if
               the  election,  or  nomination  for  election  by the  Employer's
               shareholders,  of any new  director  was approved in advance by a
               vote of at least a  majority  of the  Incumbent  Board,  such new
               director shall, for purposes of this Agreement,  be considered as
               a member of the Incumbent Board.

          (ii) An  acquisition  (other that  directly  from the Employer) of any
               voting  securities of the Employer (the "Voting  Securities")  by
               any  "Person"  (as the  term  "person"  is used for  purposed  of
               Section 13 (d) or 14(d) of the  Securities  Exchange Act of 1934)
               immediately  after which such Person has  "Beneficial  Ownership"
               (within the meaning of Rule 13d-3  promulgated under the Exchange
               Act)  of  50%  or  more  of  the  combined  voting  power  of the
               Employer's then outstanding Voting Securities.

     (b)  "NON-CONTROL TRANSACTION" shall mean a transaction described below:

          (i)  the shareholders of the Employer, immediately before such merger,
               consolidation  or  reorganization,  own,  directly or indirectly,
               immediately    following    such   merger,    consolidation    or
               reorganization,  at least 50% of the combined voting power of the
               outstanding  voting securities of the corporation  resulting from
               such merger,  consolidation  or  reorganization  (the  "Surviving
               Corporation")  in  substantially  the  same  proportion  as their
               ownership  of  the  Voting  Securities  immediately  before  such
               merger, consolidation or reorganization; and

          (ii) immediately    following    such   merger,    consolidation    or
               reorganization, the number of directors on the board of directors
               of the  Surviving  Corporation  who were members of the Incumbent
               Board  shall at least  equal  the  number of  directors  who were
               affiliated  with or  appointed  by the other party to the merger,
               consolidation, or reorganization.
<PAGE>
17. ENTIRE AGREEMENT.

This Agreement,  and the agreements  contemplated by this Agreement,  constitute
the  entire  agreement  between  the  parties  hereto and  supersedes  all prior
agreements,  if any, understandings and arrangements,  oral or written,  between
the parties hereto with respect to the subject matter hereof.

18. OFFICER'S INDEMNIFICATION AGREEMENT.

In order to provide to the Employee  assurances  with respect to the  protection
provided against  liabilities that he may incur in the performance of his duties
to the Employer, the Employer agrees to provide to the Employee,  within 10 days
after  the date of this  Agreement,  an  Indemnification  Agreement  in form and
substance satisfactory to the Employee.

19. COUNTERPARTS.

This Agreement may be executed in one or more counterparts,  each of which shall
be deemed an original but all of which  together  shall  constitute  one and the
same instrument.

IN WITNESS  WHEREOF,  the Employer has caused this  Agreement to be executed and
its  seal  to  be  affixed  hereunto  by  its  officers  and/or  directors  duly
authorized,  and the  Employee  has signed and sealed this  Agreement,  with the
original  Agreement  effective  as of the date of first  above  written  and all
amendments to the original  Agreement  incorporated  herein  effective as of the
_____, day of _____________, 2006.

SPEEDEMISISONS, INC.                   EMPLOYEE

By:________________________________    ____________________________________
                                       Richard A. Parlontieri
Name:
Title:                                 [SEAL]

[CORPORATE SEAL]Exhibit 10.1

                     COMMUNITY BANK SHARES OF INDIANA, INC.
                             PERFORMANCE UNITS PLAN

1. Purpose. The Performance Units Plan (the "Plan") of Community Bank Shares of
Indiana, Inc. ("Company") is designed to provide long-term incentive
compensation for employees. Its purpose is to benefit the Company by increasing
motivation on the part of its personnel in key positions who are materially
important to the development of the Company's business. The Plan will create an
incentive for them to remain in the employ of the Company and to work to the
very best of their abilities for the achievement of the Company's strategic
growth objectives. This purpose is intended to be accomplished under the Plan by
granting Performance Units ("Performance Units") to such key personnel (in
addition to their annual cash compensation, including bonus) which, if
performance objectives and/or service requirements with the Company are
achieved, will permit them to share in the Company's success.

2. Participants. Participants in the Plan ("Participants") shall be full time
employees of the Company, its subsidiaries or any subsidiary of its
subsidiaries, who may, but need not be, officers of the Company or of its
subsidiaries or divisions, who are determined by the Compensation Committee (the
"Committee") of the Board of Directors (the "Board") of the Company, in its
discretion, to be personnel important to the growth of the Company, and to whom
the Committee shall make any award under the Plan. Participants in the Plan are
required to sign an Acceptance of Award form which contains, among other things,
such non-competition/non-solicitation covenants as the Committee in its
discretion may determine from time to time.

3. Performance Units; Company Shares. The total number of Performance Units
available under the Plan shall be 250,000 Performance Units. In the event any
award of Performance Units is cancelled on account of termination of a
Participant's employment, failure to meet performance objectives, or for any
other reason, the Committee may again award the Performance Units canceled to an
existing or new Participant.

The total number of shares of Company common stock ("Shares") that may be issued
in payment of Performance Units awarded under the Plan shall be 250,000 Shares
as presently constituted. This number shall be adjusted to reflect subsequent
stock dividends, stock splits, spin-offs, spin-outs, reverse stock splits and
similar matters affecting outstanding Shares. Shares not exceeding this number
may be issued in payment of Performance Units awarded under the Plan at the
discretion of the Committee.

4. Performance Period. The Committee in its discretion may award none, all, or
any part of the Performance Units covered by the Plan as Performance Units.
Performance objectives may be established from time to time by the Committee.
Performance objectives need not be the same in respect to all Participants and
may be established separately for the Company as a whole or for its various
groups, divisions and subsidiaries, all as the Committee may determine, in its
discretion. The performance objectives may include growth in the Company's
earnings per share or net income, increases in the assets or profitability of a
division or subsidiary or any other growth measure the Committee may adopt.
Except as provided in Section 11, the performance

<PAGE>

period over which achievement of any performance objective shall be determined
shall not be less than two years or more than four years. The performance period
over which achievement of any performance objective is determined may include
the fiscal year during which the Performance Unit to which the performance
objective relates is awarded.

Awards of Performance Units may be conditioned on the Participant's continued
employment by the Company or a subsidiary over the performance period or in any
other manner the Committee may determine.

Any award of Performance Units prior to the date this Plan is approved or
ratified by shareholders of the Company shall be contingent on the approval or
ratification of this Plan by the shareholders of the Company, as contemplated by
Section 15.

5. Performance Unit Awards. Performance Unit Awards shall be made pursuant to
performance programs as follows:

(a) Performance Programs; Initial Grants. After the approval of this Plan by the
Board, and subject to approval or ratification of this Plan by shareholders, the
Committee shall establish one or more performance programs each with a specified
objective or objectives and a specified performance period over which the
specified objective is targeted for achievement. Participants may be awarded
Units in any one or more of the performance programs. Initial awards in any
program shall be made to such number of Participants as then determined by the
Committee. In making its determination of who shall be Participants in any
performance program, the Committee shall take into account such factors as the
Participants' level of responsibility, job performance, potential for growth,
level and types of compensation and such other factors as the Committee deems
relevant.

(b) Subsequent Awards. During the term of the Plan, additional Performance Units
may be awarded (subject to the maximum number provided for above) in the
discretion of the Committee, either (i) to new Participants in the Plan or (ii)
if the Committee determines circumstances of significant promotion or additional
responsibility so warrant, to any one or more of the initial Participants in the
Plan. In respect of such additional awards, the Committee may make such
adjustments therein as it may deem reasonable on account of any lesser period of
participation in the program by the holder of any subsequent award.

(c) Notice of Awards. Upon the making of any award by the Committee, the
Participant shall be advised of the number of Performance Units awarded and of
the terms of the award. An award to a Participant shall not be effective until
the Participant delivers to the Company an executed written Acceptance of Award,
in such form as the Committee determines, to evidence the Participant's
acceptance of such award and agreement to be bound by the terms and conditions
of the award and this Plan.

6. Performance Unit Payment. Subject to Section 15, a holder of Performance
Units shall be entitled to receive, if the applicable targeted performance
objective is met, an amount equal to the market value of one Share on the date
of the expiration of the applicable performance period multiplied by the number
of Performance Units awarded. For the purposes hereof market value

<PAGE>

as of any date shall be the value as of said date as reasonably determined by
the Committee based on market activity.

Notwithstanding the provisions of the foregoing paragraph, the Committee in its
discretion may establish at the time it establishes the targeted performance
objective, a minimum performance target and may provide for payment on a reduced
scale if the targeted performance objective is not achieved but the minimum
performance target is met or exceeded. Similarly, the Committee in its
discretion may establish at the time it establishes the targeted performance
objective enhanced performance objective(s) and may provide for payment on an
increased scale to the extent both the targeted and enhanced performance
objectives are exceeded subject, however, to the limitation herein on the
maximum number of Units and Shares covered by this Plan.

Payment amounts for Performance Units will be in the form of Shares, except that
the Committee may, in its discretion, authorize payment in cash in lieu of
Shares in an amount sufficient to satisfy applicable tax withholding obligations
on account of such payment.

7. Distributions. Distribution of amounts to which a Participant is entitled in
respect of Performance Units shall be made as soon as practicable after the
holder of such Performance Units becomes entitled thereto; provided, however,
that if the payment amounts for the Performance Units constitute nonqualified
deferred compensation pursuant to Section 409A of the Internal Revenue Code of
1986, as amended (the "Code"), and if the Participant is a "specified employee"
as that term is defined under Section 409A(a)(2)(B) of the Code, the payment
amount for the Performance Units shall be made on the first business day of the
seventh month following the date of the Change in Control of the Company or
other event that triggers Section 409A of the Code.

8. Conditions to Payments. Except as otherwise herein provided or determined by
the Committee, a Participant, in order to be entitled to receive any payment on
Performance Units awarded to him, must be in the employ of the Company or
subsidiary of the Company on the expiration of the relevant performance period
and must have been continuously in the employ of the Company or a subsidiary
from the time of the award of the Performance Units to him, except for leaves of
absence, which may be approved by the Committee. No vested interest in any
payment under the Units shall accrue during the term of the performance period
and no payment in respect of the Units shall be required to be made to any
Participant whose employment with the Company or a subsidiary is terminated,
with or without cause, prior to the time he is entitled to receive a
distribution hereunder; provided, however, that the Committee, in its absolute
discretion, may make such pro-rata or other payment (or no payment), as it may
determine, to a Participant whose employment terminates (on account of death,
disability, retirement or otherwise) prior to the time he is entitled to receive
distribution on his Performance Units. If termination is on the account of
death, the Committee may make payment of any distribution it authorizes to the
Participant's surviving spouse, heirs or estate, as the Committee may determine.

9. Committee Membership; Authority. The Plan shall be administered by the
members of the Committee, so long as it shall consist solely of two or more
members of the Board who are non-employee directors as defined under Rule 16b-3
under the Securities Exchange Act of 1934, as amended (the "1934 Act"), as in
effect from time to time. In the event said Committee, by reason

<PAGE>

of changes in its membership, shall no longer be so qualified, the Board shall
appoint a new Committee to administer the Plan, whose members shall cause the
Committee to qualify under Rule 16b-3. The Committee shall have plenary
authority and discretion to interpret the Plan, to establish any rules or
regulations relating to the Plan which it determines to be appropriate, and to
make any other determination which it believes necessary or advisable for the
proper administration of the Plan. All decisions and determinations by the
Committee with respect to the Plan and its administration, including, without
limitation, the establishment of programs, the award of Performance Units and
the determination of whether performance objectives have been achieved or
Performance Units are payable, shall be final and binding.

10. Determination of Achievement of Objectives. Without limiting its authority
as provided for in the preceding Section, the Committee in regard to any
performance program adopted by it, may thereafter change or modify the terms of
the program and shall determine whether any performance objective of any program
has been met. For this purpose, if the targeted objective shall be growth in
assets, earnings, profitability or other target determined by reference to the
Company's accounts, the Committee shall use the accounting results, as audited
at the end of any fiscal year by Company's independent certified accountants,
provided that the Committee, in its discretion, shall have the authority for the
purposes of the Plan to adjust such results for any factors it deems relevant,
including, without limitation, changes in accounting methods, changes in
corporate taxation, or any extraordinary nonrecurring event causing dilution or
diminution in the Company's earnings, all as the Committee may in its discretion
deem necessary or desirable to accomplish the purpose of the performance
program.

11. Change in Control of the Company. In the event of a Change of Control (as
hereinafter defined) each Participant then holding an award of Performance Units
shall, subject to Section 15, be entitled to receive payment thereof, free of
any conditions, in an amount determined as follows:

(a) if the targeted performance objectives have been met as of the date of the
Change of Control, the amount shall be equal to the amount that otherwise would
be payable if the performance periods had elapsed on the date of the Change of
Control; and

(b) if any of the targeted performance objectives have not been met as of the
date of the Change of Control, the amount shall be determined by multiplying (i)
the amount that otherwise would be payable if the performance periods had
elapsed and the targeted performance objectives had been met, by (ii) a
fraction, the numerator of which is the number of full months that have elapsed
since the beginning of the performance period(s) and the denominator of which is
the aggregate number of full months in the longest performance period over which
achievement of the targeted performance objectives is measured; provided
however, that if the aggregate amount to which such Participant would be
entitled would constitute a "parachute payment" under Section 280G of the Code,
such amount shall be reduced by the amount determined by the Committee which is
the minimum necessary to result in no portion of the payment of such amount
being non-deductible to the Company pursuant to Section 280G of the Code and
subject to excise tax imposed under Section 4999 of the Code. Such amount shall
be determined as of the date of the Change of Control and payable in accordance
with Section 6 as promptly as

<PAGE>

practicable thereafter. Payment of such amount shall constitute satisfaction in
full of all Performance Units held by such Participant at the time of the Change
in Control.

As used herein, "Change in Control" shall be determined in accordance with the
definition of "a change in the ownership or effective control of the [C]ompany,
or in the ownership of a substantial portion of the assets of the [C]ompany"
under Section 409A, and the regulations and other guidance promulgated
thereunder, of the Code.

12. Amendment of Plan. The Committee shall have the authority to make amendments
and revisions of this Plan, so long as such amendments or revisions do not
negatively affect Participants with respect to their previously awarded
Performance Units.

13. Additional Provisions. The following additional terms and provisions apply
to the Plan:

(a) No Participant in the Plan shall have any right because he is a Participant
in the Plan to continue in the employ of the Company or of any of its
subsidiaries for any period of time, or any right to a continuation of his
present or any other rate of compensation; and such rights and powers as the
Company now has or which it may have in the future to dismiss or discharge any
Participant from his employment or to change the assignments of any Participant
are expressly reserved to the Company.

(b) The award of Performance Units to a Participant in the Plan shall create no
rights in such Participant as a shareholder of the Company until such time and
to the extent that the Participant is delivered Shares in satisfaction of such
Participant's Performance Units.

(c) The Company at the time any payment is made under the Plan is authorized to
withhold from such payment any amount necessary to satisfy income tax
withholding requirements in respect to such payment.

(d) In the event of stock dividends, stock splits, spin-offs, reverse stock
splits or similar matters affecting outstanding Shares during the term of the
Plan, appropriate revision shall be made (i) in the targeted growth objectives
of performance programs, and (ii) in the Performance Units awarded to reflect
the effect of such stock dividend, stock split, spin-off, reverse stock split or
similar matter on the interests of the Participants in the Plan. Otherwise, no
adjustment shall be made in the Performance Units awarded or the amounts payable
with respect thereto on account of cash dividends which may be paid or other
rights which may be issued to holders of Shares during the term of the Plan.

14. Term of Plan. Subject to Section 15, the term of the Plan shall be for the
period from the date of its approval by the Board until the first business day
after March 31, 2013, or such earlier date as of which the Board, in its
discretion, elects to terminate the Plan. Termination of the Plan shall have no
effect on the performance periods of Performance Units awarded prior to
termination. Awards of Performance Units may be made during the term of the Plan
under performance programs with performance periods extending beyond the term of
the Plan.

<PAGE>

15. Shareholder Approval and Other Actions. This Plan, and any award of
Performance Units under the Plan, is conditioned on the approval and
ratification of the Plan by the shareholders of the Company at or before the
2003 annual meeting of shareholders of the Company, and no Shares may be issued
hereunder prior to the receipt of such shareholder approval and ratification.
The Plan, and the award of Performance Units hereunder, shall become void if the
shareholders of the Company do not approve and ratify the Plan at or before the
2003 annual meeting of shareholders of the Company.

Subject to the approval and ratification of this Plan by the shareholders of the
Company, the Board and officers of the Company are authorized to take such
action as may be necessary to provide for the issuance of any or all of the
Shares which may be necessary to satisfy the Company's obligations hereunder and
to cause said shares to be listed on any stock exchange or authorized for
quotation on any inter-dealer automated quotation system on which Shares may at
such time be listed or transactions in Shares may be quoted.

16. Non-Assignability. Rights under the Plan and in respect of Units granted
under the Plan or payments of amounts are not transferable and may not be
assigned or pledged by any Participant at any time, and no recognition shall be
required to be given by the Company to any attempted assignment of any rights
hereunder or of any attempted assignment of the Units.

17. Plan a Part of Continuing Compensation Program. This Plan is a part of a
continuing program of incentive compensation for senior managerial personnel of
the Company and is expected to be supplemented or continued in effect after the
term hereof by any additional plan or plans as approved by the Board of
Directors.

*** *** *** ***

The foregoing is a full text of the Performance Units Plan of Community Bank
Shares of Indiana, Inc. approved by the Board of Directors of Community Bank
Shares of Indiana, Inc. as of March 25, 2003, as amended on October 17, 2006.

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