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                                 EXHIBIT 10.19

                             EMPLOYMENT AGREEMENTS

                                MARVIN D. KANTOR
                                SHELDON A. GOLD
                                 REED A. MARTIN

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                              EMPLOYMENT AGREEMENT

      THIS EMPLOYMENT AGREEMENT by and between WENDT-BRISTOL HEALTH SERVICES
CORP., a Delaware corporation (the "Company"), and MARVIN D. KANTOR (the
"Executive") dated as of the ____ day of ____________, 2000.

                               W I T N E S S E T H

      WHEREAS, Executive has been employed with the Company on a continuous
basis since 1968; and

      WHEREAS, the Company desires to maintain the services of Executive at
Executive's current level of base compensation for a period of five (5) years;
and

      WHEREAS, the Company desires to provide for the orderly succession of
management of the Company; and

      WHEREAS, the Company considers it essential for the best interests of its
stockholders to foster the continuous employment of key management personnel
and, in this connection, the Board of Directors of the Company (the "Board")
recognizes that, as is the case with many publicly held corporations, the
possibility of a change in control may exist; the possibility and the
uncertainty and questions that it may raise among management may result in the
departure or distraction of management personnel to the detriment of the Company
and its stockholders; and

      WHEREAS, the Board has determined that appropriate steps should be taken
to reinforce and encourage the continued attention and dedication of the
Company's management, including Executive, to the assigned duties without
distraction in the face of potentially disturbing circumstances arising from the
possibility of in a change in control of the Company; and

      WHEREAS, to induce Executive to remain in the employ of the Company, in
consideration of Executive's Agreement set forth below, the Company desires that
Executive enter into this Agreement providing for a term of employment and
severance benefits in the event Executive's employment with the Company is
terminated subsequent to a "change in control of the Company" (as defined in
Section 4(c)(i)(G) below) under the circumstances described below; and

      WHEREAS, Executive wishes to serve the Company in the capacities and on
the terms and conditions set forth in this Agreement;

      NOW, THEREFORE, in consideration of Executive's continued employment and
the parties' agreement to be bound by the terms in this Agreement, the parties
agree as follows:

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SECTION 1. EMPLOYMENT PERIOD. The Company shall employ Executive, and Executive
shall serve the Company, on the terms and conditions set forth in this
Agreement. This Agreement shall commence on June 15, 2000 and shall continue in
effect through June 14, 2005 (the "Employment Period").

SECTION 2. POSITION AND DUTIES.

      (a) During the Employment Period, the Executive shall serve as the Chief
Executive Officer of the Company and Chairman of the Board of Directors of the
Company. The Executive shall serve in each such case as an employee of the
Company and with such duties and responsibilities as are customarily assigned to
such positions, and such other duties and responsibilities not inconsistent
therewith as may from time to time be assigned to him by the Board. The
Executive shall be a member of the Board and the Board shall propose the
Executive for reelection for the Board through the Employment Period.

      (b) During the Employment Period, and excluding any periods of vacation
and sick leave to which Executive is entitled, the Executive shall devote
reasonable attention and time during normal business hours to the business and
affairs of the Company and, to the extent necessary to discharge the
responsibilities assigned to Executive under this Agreement, use the Executive's
reasonable best efforts to carry out such responsibilities faithfully and
efficiently. It shall not be considered a violation of the foregoing for the
Executive to serve on corporate, industry, civic or charitable boards or
committees, so long as such activities do not significantly interfere with the
performance of the Executive's responsibilities as an employee of the Company in
accordance with this Agreement.

      (c) The Executive's services shall be performed primarily at the Company's
headquarters in Columbus, Ohio and at such other locations within or without
Ohio, as the Executive reasonably deems appropriate to conduct and perform his
duties under the terms of this Agreement.

SECTION 3. COMPENSATION.

      (a) BASE SALARY. The Executive's compensation during the Employment Period
shall be $200,000.00 per year, payable in accordance with the customary
practices of the Company for its senior executives as in effect from time to
time.

      (b) FRINGE BENEFITS. During the Employment Period, Executive shall be
entitled to receive fringe benefits on the same terms and conditions as the
greater of (i) the fringe benefits received by, or available to, him from the
Company immediately before commencement of the term of this Agreement or (ii)
the fringe benefits provided by the Company or its subsidiaries which are
available to the next highest executive officer of the Company for the year.

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      (c) OTHER BENEFITS. In addition, the Executive shall be entitled to
participate in all applicable incentive, savings and retirement plans,
practices, policies and programs of the Company and its subsidiaries to the same
extent as other senior executives of the Company; and the Executive and/or the
Executive's family as the case may be, shall be eligible for participation in
and shall receive all benefits under all applicable welfare benefit plans,
practices, policies and programs provided by the Company and its subsidiaries,
other than severance plans, practices, policies and programs but including,
without limitation, medical, prescription, dental, disability, sick leave,
employee life insurance, group life insurance, accidental death and travel
accident insurance plans and programs, to the same extent as other senior
executives of the Company.

SECTION 4. TERMINATION OF EMPLOYMENT.

      (a) DEATH OR DISABILITY. The Executive's employment shall terminate
automatically upon the Executive's death during the Employment Period. The
Company shall be entitled to terminate the Executive's employment because of the
Executive's Disability during the Employment Period. "Disability" means that (i)
the Executive has been unable, for a period of One Hundred Eighty (180)
consecutive business days, to perform the Executive's duties under this
Agreement, as a result of physical or mental illness or injury, and (ii) a
physician selected by the Company or its insurers, and acceptable to the
Executive or the Executive's legal representative, has determined that the
Executive's incapacity is total and permanent. A termination of the Executive's
employment by the Company for Disability shall be communicated to the Executive
by written notice, and shall be effective on the 30th day after receipt of such
notice by the Executive (the "Disability Effective Date"), unless the Executive
returns to full-time performance of the Executive's duties before the Disability
Effective Date.

      (b) BY THE COMPANY.

      (i) The Company may terminate the Executive's employment during the
      Employment Period for Cause or without Cause. "Cause" means illegal
      conduct or gross misconduct by the Executive, in either case that is
      willful and results in material and demonstrable damage to the business or
      reputation of the Company. No act or failure to act on the part of the
      Executive shall be considered "willful" unless it is done, or omitted to
      be done, by the Executive in bad faith or without reasonable belief that
      the Executive's action or omission was in the best interests of the
      Company. Any act or failure to act that is based upon authority given
      pursuant to a resolution duly adopted by the Board, or the advice of
      counsel for the Company, shall be conclusively presumed to be done, or
      omitted to be done, by the Executive in good faith and in the best
      interests of the Company.

      (ii) A termination of the Executive's employment for Cause shall be
      effected in accordance with the following procedures. The Company shall
      give the Executive written notice ("Notice of Termination for Cause") of
      its intention to terminate the Executive's employment for Cause, setting
      forth in reasonable detail the specific conduct of the Executive that it
      considers to constitute Cause and the specific provision(s) of this

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      Agreement on which it relies, and stating the date, time and place of the
      Special Board Meeting for Cause. The "Special Board Meeting for Cause"
      means a meeting of the Board called and held specifically for the purpose
      of considering the Executive's termination for Cause, that takes place not
      less than ten (10) and not more than twenty (20) business days after the
      Executive receives the Notice of Termination for Cause. The Executive
      shall be given an opportunity, together with counsel, to be heard at the
      Special Board Meeting for Cause. The Executive's termination for Cause
      shall be effective when and if a resolution is duly adopted at the Special
      Board Meeting for Cause by affirmative vote of at least two-thirds (2/3)
      of the entire membership of the Board (excluding the Executive who shall
      not vote on this matter) stating that in the good faith opinion of the
      Board, the Executive is guilty of the conduct described in the Notice of
      Termination for Cause, and that conduct constitutes Cause under this
      Agreement.

      (iii) A termination of the Executive's employment without Cause shall be
      effective in accordance with the following procedures. The Company shall
      give the Executive written notice ("Notice of Termination without Cause")
      of its intention to terminate the Executive's employment without Cause,
      stating the date, time and place of the Special Board Meeting without
      Cause. The "Special Board Meeting without Cause" means a meeting of the
      Board called and held specifically for the purpose of considering the
      Executive's termination without Cause, that takes place not less than ten
      (10) nor more than twenty (20) business days after the Executive receives
      the Notice of Termination without Cause. The Executive shall be given an
      opportunity, together with counsel, to be heard at the Special Board
      Meeting without Cause. The Executive's termination without Cause shall be
      effective when and if a resolution is duly adopted at the Special Board
      Meeting without Cause by an affirmative vote of at least two-thirds (2/3)
      of the entire membership of the Board (excluding the Executive who shall
      not vote on this matter).

      (c) BY EXECUTIVE FOR GOOD REASON.

      (i) The Executive may terminate his employment for Good Reason or without
      Good Reason. "Good Reason" means:

            (A) the assignment to the Executive of any duties inconsistent in
            any respect with Section 2(a) of this Agreement, or any other action
            by the Company that results in a diminution in the Executive's
            position, authority, duties, or responsibilities, other than an
            isolated, insubstantial and inadvertent action that is not taken in
            bad faith and is remedied by the Company promptly after receipt of
            notice thereof from the Executive;

            (B) any failure by the Company to comply with any provision of
            Section 3 of this Agreement, other than an isolated, insubstantial
            and inadvertent failure that is

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            not taken in bad faith and is remedied by the Company promptly after
            receipt of notice thereof from the Executive;

            (C) the assignment or reassignment by the Company of the Executive
            without the Executive's consent to another place of employment
            outside of the Columbus, Ohio metropolitan area;

            (D) any purported termination of the Executive's employment by the
            Company for a reason or in a manner not expressly permitted by this
            Agreement;

            (E) any failure by the Company to comply with Section 11(c) of this
            Agreement;

            (F) any other substantial breach of this Agreement by the Company
            that either is not taken in good faith or is not remedied by the
            Company promptly after receipt of notice thereof from the Executive;
            or

            (G) a Change of Control. For purposes of this section, a "Change of
            Control" means the happening of any of the following:

                  (i) When any "person" as defined in Section 3(a)(9) of the
                  Securities Exchange Act of 1934, as amended (the "Exchange
                  Act") and as used in Sub-Sections 13(d) and 14(d) thereof,
                  including a "group" as defined in section 13(d) of the
                  Exchange Act but excluding the Company and any subsidiary
                  thereof and any employee benefit plan sponsored or maintained
                  by the Company or any subsidiary (including any trustee of
                  such plan acting as trustee), directly or indirectly, becomes
                  the "beneficial owner" (as defined in Rule 13d-3 under the
                  Exchange Act, as amended from time to time), of securities of
                  the Company representing twenty (20%) percent or more of the
                  combined voting power of the Company's then outstanding
                  securities;

                  (ii) When, during any period after the commencement date of
                  this Agreement, the individuals who, at the beginning of such
                  period, constitute the Board (the "Incumbent Directors") cease
                  for any reason other than death to constitute at least a
                  majority thereof, provided that a director who was not a
                  director at the beginning of period shall be deemed to have
                  satisfied such requirement (and be an Incumbent Director) if
                  such director was elected by, or on the recommendation of or
                  with the approval of, at least two-thirds (2/3) of the
                  directors who then qualified as Incumbent Directors either
                  actually (because they were directors at the beginning of such
                  period) or by prior operation of this Section 4(c)(i)(G)(ii);
                  or

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                  (iii) The occurrence of a transaction requiring stockholder
                  approval for the acquisition of the Company by an entity other
                  than the Company or a subsidiary through purchase of assets,
                  or by merger, or otherwise.

            The Company and the Executive, upon mutual written agreement, may
      waive any of the foregoing provisions which would otherwise constitute
      Good Reason.

      (ii) A termination of employment by the Executive for Good Reason shall be
      effectuated by giving the Company written notice ("Notice of Termination
      for Good Reason") of the termination, setting forth in reasonable detail
      the specific conduct of the Company that constitutes Good Reason and the
      specific provision(s) of this Agreement on which the Executive relies. A
      termination of employment by the Executive for Good Reason shall be
      effective on the fifth (5th) business day following the date when the
      Notice of Termination of or Good Reason is given, unless the notice sets
      forth a later date (which date shall in no event be later than thirty (30)
      days after the notice is given). For purposes of this Section 4(c), any
      good faith determination of "Good Reason" made by the Executive shall be
      conclusive.

      (iii) A termination of the Executive's employment by the Executive without
      Good Reason shall be effected by giving the Company written notice of the
      termination.

      (d) NO WAIVER. The failure to set forth any fact or circumstance in a
Notice of Termination for Cause, a Notice of Termination without Cause, or a
Notice of Termination for Good Reason shall not constitute a waiver of the right
to assert, and shall not preclude the party giving notice from asserting such
fact or circumstance in an attempt to enforce any right under or provision of
this Agreement.

      (e) DATE OF TERMINATION. The "Date of Termination" means the date of the
Executive's death, the Disability Effective Date, the date on which the
termination of the Executive's employment by the Company for Cause or without
Cause or by the Executive for Good Reason is effective, or the date on which the
Executive gives the Company notice of a termination of employment without Good
Reason, as the case may be.

SECTION 5. OBLIGATIONS OF THE COMPANY UPON TERMINATION.

      (a) BY THE COMPANY OTHER THAN FOR CAUSE OR DISABILITY; BY THE EXECUTIVE
FOR GOOD REASON. If during the Employment Period, the Company terminates the
Executive's employment, other than for Cause or Disability, or the Executive
terminates employment for Good Reason, the Company shall continue to provide the
Executive with the compensation and benefits set forth in Section 3(a), (b) and
(c) as if he had remained employed by the Company pursuant to this Agreement
through the end of the Employment Period and then retired (at which time he will
be treated as eligible for all retiree welfare benefits and other benefits
provided to retired senior executives, as set forth In Section 3(c); provided,
at the election of Executive by

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written notice to the Company given at any time within sixty (60) days of the
Date of Termination, the Base Salary set forth in Section 3(a) for the entire
remaining Employment Period shall be paid in a lump sum to Executive within
thirty (30) business days of the Company's receipt of Executive's notice of such
election; provided, further, that in lieu of stock options, restricted stock and
other stock-based awards, the Executive shall be paid cash equal to the fair
market values as of the Date of Termination (without regard to any restrictions
and based upon a valuation model generally utilized for purposes of valuing
comparable stock based compensation awards) of the stock options, restricted
stock and other stock-based awards that would otherwise have been granted with
such cash being paid within ninety (90) days after the Date of Termination;
provided, further, that to the extent any benefits described in Section 3(c)
cannot be provided pursuant to the plan or program maintained by the Company for
its executives, the Company shall provide such benefits outside such plan or
program at no additional cost (including without limitation tax cost) to the
Executive and his family; and provided, finally, that during any period when the
Executive is eligible to receive benefits of the type described in Section 3(c)
under another employer-provided plan, the benefits provided by the Company under
Section 5(a) may be made secondary to those provided under another plan. In
addition to the foregoing, any restricted stock outstanding on the Date of
Termination shall be fully vested and exercisable and shall remain in effect and
exercisable through the end of their respective terms, without regard to the
termination of the Executive's employment. The payments and benefits provided
pursuant to this Section 5(a) are intended as liquidated damages for a
termination of the Executive's employment by the Executive for Good Reason, and
shall be the sole and exclusive remedy therefore.

      (b) DEATH OR DISABILITY. If the Executive's employment is terminated by
reason of the Executive's death or Disability during the Employment Period, the
Company shall pay to the Executive or, in the case of the Executive's death, to
the Executive's designated beneficiaries (or, if there is no such beneficiary,
to the Executive's estate or legal representative) in a lump sum in cash within
thirty (30) days after the Date of Termination, the sum of the following amounts
(the "Accrued Obligations"): (1) any portion of the Executive's Annual Base
Salary through the Date of Termination that has not yet been paid; (2) any
compensation previously deferred by Executive (together with any accrued
interest or earnings thereon) that has not yet been paid; and (3) any accrued
but unpaid vacation pay; and the Company shall have no further obligations under
this Agreement, except as specified in Section 6 below. If the Executive's
employment is terminated by reason of Disability, he shall be entitled to
receive the maximum disability payments which can be provided under the
disability plans described in Section 3(c), reduced, however, by actual
disability benefits received under such plans.

      (c) BY THE COMPANY FOR CAUSE; BY THE EXECUTIVE OTHER THAN FOR GOOD REASON.
If the Executive's employment is terminated by the Company for Cause during the
Employment Period, the Company shall pay the Executive the Annual Base Salary
through the Date of Termination and the amount of any compensation previously
deferred by the Executive (together with any accrued interest or earnings
thereon), in each case to the extent not yet paid, and the Company shall have no
further obligations under this Agreement, except as specified in Section 6

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below. If the Executive voluntarily terminates employment during the Employment
Period, other than for Good Reason, the Company shall pay the Accrued
Obligations to the Executive in a lump sum in cash within thirty (30) days of
the Date of Termination, and the Company shall have no further obligations under
this Agreement, except as specified in Section 6 below.

SECTION 6. NONEXCLUSIVITY OF RIGHTS. Nothing in this Agreement shall prevent or
limit the Executive's continuing or future participation in any plan, program,
policy or practice provided by the Company or any of its affiliated companies
for which the Executive may qualify, nor, subject to Section 12(f), shall
anything in this Agreement limit or otherwise affect such rights as the
Executive may have under any contract or agreement with the Company or any of
its affiliated companies. Vested benefits and other amounts that the Executive
is otherwise entitled to receive under SERP or any other plan, policy, practice
or program of, or any contract or agreement with, the Company or any of its
affiliated companies on or after the Date of Termination shall be payable in
accordance with the terms of each such plan, policy, practice, program, contract
or agreement, as the case may be, except as explicitly modified by this
Agreement.

SECTION 7. FULL SETTLEMENT. The Company's obligation to make the payments
provided for in, and otherwise to perform its obligations under, this Agreement
shall not be affected by any set-off, counterclaim, recoupment, defense, or
other claim, right or action that the Company may have against the Executive or
others. In no event shall the Executive be obligated to seek other employment or
take any other action by way of mitigation of the amounts payable to the
Executive under any of the provisions of this Agreement and, except as
specifically provided in Section 5(a) with respect to benefits described in
Sections 3(a) and (b), such amounts shall not be reduced, regardless of whether
the Executive obtains other employment.

SECTION 8. NONCOMPETITION PROVISION AND CONFIDENTIAL
           INFORMATION.

      (a) Without prior written consent of the Company, for the greater of (i)
the twenty-four (24) month period following the Date of Termination, or (ii)
the remaining Employment Period of this Agreement, the Executive shall not, as a
shareholder, officer, director, partner, consultant or otherwise, engage
directly or indirectly in any business or enterprise which is "in competition"
with the Company or its successors or assigns; provided, however, that the
Executive's ownership of less than five (5%) percent of the issued and
outstanding voting securities of a publicly traded company shall not be deemed
to constitute such competition. A business or enterprise is deemed to be "in
competition" if it is engaged in the business of providing medical diagnostic
imaging and radiation therapy services in Ohio.

      (b) The Executive shall hold in a fiduciary capacity for the benefit of
the Company all secret or confidential information, knowledge or data relating
to the Company or any of its affiliated companies and their respective
businesses that the Executive obtains during the Executive's employment by the
Company or any of its affiliated companies and that is not public

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knowledge (other than as a result of the Executive's violation of this Section
8) ("Confidential Information"). The Executive shall not communicate, divulge or
disseminate Confidential Information at any time during or after the Executive's
employment with the Company, except with the prior written consent of the
Company or as otherwise required by law or legal process. In no event shall any
asserted violation of the provisions of this Section 8 constitute a basis for
deferring or withholding any amounts otherwise payable to the Executive under
this Agreement.

SECTION 9. CERTAIN ADDITIONAL PAYMENTS BY THE COMPANY.

      (a) Anything in this Agreement to the contrary notwithstanding, in the
event it shall be determined that any payment or distribution by the Company to
or for the benefit of the Executive (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise, but
determined without regard to any additional payments required under this Section
9) (a "Payment") would be subject to the excise tax imposed by Section 4999 of
the Internal Revenue code of 1986, as amended (the "Code") or any interest or
penalties are incurred by the Executive with respect to such excise tax (such
excise tax, together with any such interest and penalties, are hereinafter
collectively referred to as the "Excise Tax"), then the Executive shall be
entitled to receive an additional payment (a "Gross-Up Payment") in an amount
such that after payment by the Executive of all taxes (including any interest or
penalties imposed with respect to such taxes), including, without limitation,
any income taxes (and any interest and penalties imposed with respect thereto)
and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an
amount of the Gross-Up Payment equal to the Excise Tax imposed upon the
Payments.

      (b) Subject to the provisions of this Section 9(c), all determinations
required to be made under this Section 9, including whether and when a Gross-Up
Payment is required and the amount of such Gross-Up Payment and the assumptions
to be utilized in arriving at such determination, shall be made by a nationally
recognized certified public accounting firm designated by the Executive (the
"Accounting Firm"), which shall provide detailed supporting calculations both to
the company and the Executive within fifteen (15) business days of the receipt
of notice from the Executive that there has been a Payment, or such earlier time
as is requested by the Company. All fees and expenses of the Accounting Firm
shall be borne solely by the Company. Any Gross-Up Payment, as determined
pursuant to this Section 9, shall be paid by the Company to the Executive within
five (5) days of the receipt of the Accounting Firm's determination. Any
determination by the Accounting Firm shall be binding upon the Company and the
Executive. As a result of the uncertainty in the application of Section 4999 of
the Code at the time of the initial determination by the Accounting Firm
hereunder, it is possible that Gross-Up Payments which will not have been made
by the company should have been made ("Underpayment") consistent with the
calculations required to be made hereunder. In the event that the Company
exhausts its remedies pursuant to this Section 9(c), and the Executive
thereafter is required to make a payment of any Excise Tax, the Accounting firm
shall determine the amount of the Underpayment that has occurred and any such
Underpayment shall be promptly paid by the Company to or for the benefit of the
Executive.

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      (c) The Executive shall notify the Company in writing of any claim by the
Internal Revenue Service that, if successful, would require the payment by the
Company of the Gross-Up Payment. Such notification shall be given as soon as
practicable but no later than ten (10) business days after the Executive is
informed in writing of such claim and shall apprise the Company of the nature of
such claim and the date on which such claim is requested to be paid. The
Executive shall not pay such claim prior to the expiration of the thirty (30)
day period following the date on which it gives such notice to the Company (or
such shorter period ending on the date that any payment of taxes with respect to
such claim is due). If the Company notifies the Executive in writing prior to
the expiration of such period that it desires to contest such claim the
Executive shall:

      (i) give the Company any information reasonably requested by the Company
      relating to such claim;

      (ii) take such action in connection with contesting such claim as the
      Company shall reasonably request in writing from time to time, including,
      without limitation, accepting legal representation with respect to such
      claim by an attorney reasonably selected by the Company;

      (iii) cooperate with the Company in good faith in order effectively to
      contest such claim; and

      (iv) permit the Company to participate in any proceedings relating to such
      claim:; provided, however, that the Company shall bear and pay directly
      all costs and expenses (including additional interest and penalties)
      incurred in connection with such contest and shall indemnify and hold the
      Executive harmless, on an after-tax basis, for any Excise Tax or income
      tax (including interest and penalties with respect thereto) imposed as a
      result of such representation and payment of costs and expenses. Without
      limitation on the foregoing provisions of this Section 9(c), the Company
      shall control all proceedings taken in connection with such contest and,
      at its sole option, may pursue or forego any and all administrative
      appeals, proceedings, hearings and conferences with the taxing authority
      in respect of such claim and may, at its sole option, either direct the
      Executive to pay the tax claimed and sue for a refund or contest the claim
      in any permissible manner, and the Executive agrees to prosecute such
      contest to a determination before any administrative tribunal, in a court
      of initial jurisdiction and in one or more appellate courts, as the
      Company shall determine; provided, however, that if the Company directs
      the Executive pay such claim and sue for a refund, the Company shall
      advance the amount of such payment to the Executive, on an interest-free
      basis and shall indemnify and hold the Executive harmless, on an after-tax
      basis, from any Excise Tax or income tax (including interest or penalties
      with respect thereto) imposed with respect to such advance or with respect
      to any imputed income with respect to such advance; and provided, further,
      that any extension of the statute of limitations relating to payment of
      taxes for the taxable year of the Executive with respect to which such
      contested amount is claimed to be due is

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      limited solely to such contested amount. Furthermore, the Company's
      control, of the contest shall be limited to issues with respect to which a
      Gross-Up Payment would be payable hereunder and the Executive shall be
      entitled to settle or contest, as the case may be, any other issue raised
      by the Internal Revenue Service or any other taxing authority.

      (d) If, after the receipt by the Executive of an amount advanced by the
Company pursuant to this Section 9(c), the Executive becomes entitled to receive
any refund with respect to such claim, the Executive shall (subject to the
Company's complying with the requirements of this Section 9(c)) promptly pay to
the Company the amount of such refund (together with any interest paid or
credited thereon after taxes applicable thereto). If after the receipt by the
Executive of an amount advanced by the Company pursuant to this Section 9(c), a
determination is made that the Executive shall not be entitled to any refund
with respect to such claim and the Company does not notify the Executive in
writing of its intent to contest such denial of refund prior to the expiration
of thirty (30) days after such determination, then such advance shall be
forgiven and shall not be required to be repaid and the amount of such advance
shall offset, to the extent thereof, the amount of Gross-Up Payment required to
be paid.

SECTION 10. ATTORNEYS' FEES. The Company agrees to pay, as incurred, to the
fullest extent permitted by law, all legal fees and expenses that the Executive
may reasonably incur as a result of any contest (regardless of the outcome) by
the Company, the Executive or others of the validity or enforceability of or
liability under, or otherwise involving, any provision of this Agreement,
together with interest on any delayed payment at the applicable federal rate
provided for in Section 7872(f)(2)(A) of the Code.

SECTION 11. SUCCESSORS.

      (a) This Agreement is personal to the Executive and, without the prior
written consent of the Company, shall not be assignable by the Executive
otherwise than by will or the laws of descent and distribution. This Agreement
shall inure to the benefit of and be enforceable by the Executive's legal
representatives.

      (b) This Agreement shall inure to the benefit of and be binding upon the
Company and its successors and assigns.

      (c) The Company shall require any successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company expressly to assume and agree to
perform this Agreement in the same manner and to the same extent that the
Company would have been required to perform it if no such succession had taken
place. As used in this Agreement, "Company" shall mean both the Company as
defined above and any such successor that assumes and agrees to perform this
Agreement, by operation off law or otherwise.

SECTION 12. MISCELLANEOUS.

      (a) This Agreement shall be governed by, and construed in accordance with,
the laws of the State of Ohio, without reference to principles of conflict of
laws. The captions of this

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Agreement are not part of the provisions hereof and shall have no force or
effect. This Agreement may not be amended or modified except by a written
agreement executed by the parties hereto or their respective successors and
legal representatives.

      (b) All notices and other communications under this Agreement shall be in
writing and shall be given by hand delivery to the other party or by registered
or certified mail, return receipt requested, postage prepaid, addressed as
follows:

         IF TO THE EXECUTIVE:       Marvin D. Kantor
                                    Wendt-Bristol Health Services Corp.
                                    280 North High Street, Suite 760
                                    Columbus, OH 43215

         IF TO THE COMPANY:         Wendt-Bristol Health Services Corp.
                                    280 North High Street, Suite 760
                                    Columbus, OH 43215

or to such other address as either party furnishes to the other in writing in
accordance with this Section 12(b). Notices and communications shall be
effective when actually received by the addressee.

      (c) Subject to the last sentence of this Section 12(c), the invalidity or
unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement. If any
provision of this Agreement shall be held invalid or unenforceable in part, the
remaining portion of such provision, together with all other provisions of this
Agreement, shall remain valid and enforceable and continue in full force and
effect to the fullest extent consistent with law. However, the enforceability of
Section 8(a) shall be dependent upon the validity and enforceability of Section
5.

      (d) Notwithstanding any other provision of this Agreement, the Company may
withhold from amounts payable under this Agreement all federal, state, local and
foreign taxes that are required to be withheld by applicable laws or
regulations.

      (e) The Executive's or the Company's failure to insist upon strict
compliance with any provision of, or to assert any right under, this Agreement
(including, without limitation, the right of the Executive to terminate
employment for Good Reason pursuant to Section 4(c) of this Agreement) shall not
be deemed to be a waiver of such provision or right or of any other provision of
or right under this Agreement.

      (f) The Executive and the Company acknowledge that this Agreement
supersedes and terminates any other severance and employment agreements between
the Executive and the Company or the Company's affiliates.

      (g) The rights and benefits of the Executive under this Agreement may not
be anticipated, assigned, alienated or subject to attachment, garnishment, levy,
execution or other legal or equitable process except as required by law. Any
attempt by the Executive to anticipate,

                                       12
<PAGE>   14

alienate, assign, sell, transfer, pledge, encumber or charge the same shall be
void. Payments hereunder shall not be considered assets of the Executive in the
event of insolvency or bankruptcy.

      (h) This Agreement may be executed in several counterparts, each of which
shall be deemed an original and said counterparts shall constitute but one and
the same instrument.

      IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand
and, pursuant to the authorization of its Board of Directors, the Company has
caused this Agreement to be executed in its name on its behalf, all as of the
day and year first above written.

COMPANY:                               EXECUTIVE:

WENDT-BRISTOL HEALTH
SERVICES CORP.

BY: /s/                                /s/
   ----------------------------        --------------------------------
                                       MARVIN D. KANTOR

                                       13
<PAGE>   15
                              EMPLOYMENT AGREEMENT

      THIS EMPLOYMENT AGREEMENT by and between WENDT-BRISTOL HEALTH SERVICES
CORP., a Delaware corporation (the "Company"), and SHELDON A. GOLD (the
"Executive") dated as of the ____ day of ____________, 2000.

                               W I T N E S S E T H

      WHEREAS, Executive has been employed with the Company on a continuous
basis since 1970; and

      WHEREAS, the Company desires to maintain the services of Executive at
Executive's current level of base compensation for a period of five (5) years;
and

      WHEREAS, the Company desires to provide for the orderly succession of
management of the Company; and

      WHEREAS, the Company considers it essential for the best interests of its
stockholders to foster the continuous employment of key management personnel
and, in this connection, the Board of Directors of the Company (the "Board")
recognizes that, as is the case with many publicly held corporations, the
possibility of a change in control may exist; the possibility and the
uncertainty and questions that it may raise among management may result in the
departure or distraction of management personnel to the detriment of the Company
and its stockholders; and

      WHEREAS, the Board has determined that appropriate steps should be taken
to reinforce and encourage the continued attention and dedication of the
Company's management, including Executive, to the assigned duties without
distraction in the face of potentially disturbing circumstances arising from the
possibility of in a change in control of the Company; and

      WHEREAS, to induce Executive to remain in the employ of the Company, in
consideration of Executive's Agreement set forth below, the Company desires that
Executive enter into this Agreement providing for a term of employment and
severance benefits in the event Executive's employment with the Company is
terminated subsequent to a "change in control of the Company" (as defined in
Section 4(c)(i)(G) below) under the circumstances described below; and

      WHEREAS, Executive wishes to serve the Company in the capacities and on
the terms and conditions set forth in this Agreement;

      NOW, THEREFORE, in consideration of Executive's continued employment and
the parties' agreement to be bound by the terms in this Agreement, the parties
agree as follows:

<PAGE>   16

SECTION 1. EMPLOYMENT PERIOD. The Company shall employ Executive, and Executive
shall serve the Company, on the terms and conditions set forth in this
Agreement. This Agreement shall commence on June 15, 2000 and shall continue in
effect through June 14, 2005 (the "Employment Period").

SECTION 2. POSITION AND DUTIES.

      (a) During the Employment Period, the Executive shall serve as the
President and CFO of the Company. The Executive shall serve in each such case as
an employee of the Company and with such duties and responsibilities as are
customarily assigned to such positions, and such other duties and
responsibilities not inconsistent therewith as may from time to time be assigned
to him by the Board. The Executive shall be a member of the Board and the Board
shall propose the Executive for reelection for the Board through the Employment
Period.

      (b) During the Employment Period, and excluding any periods of vacation
and sick leave to which Executive is entitled, the Executive shall devote
reasonable attention and time during normal business hours to the business and
affairs of the Company and, to the extent necessary to discharge the
responsibilities assigned to Executive under this Agreement, use the Executive's
reasonable best efforts to carry out such responsibilities faithfully and
efficiently. It shall not be considered a violation of the foregoing for the
Executive to serve on corporate, industry, civic or charitable boards or
committees, so long as such activities do not significantly interfere with the
performance of the Executive's responsibilities as an employee of the Company in
accordance with this Agreement.

      (c) The Executive's services shall be performed primarily at the Company's
headquarters in Columbus, Ohio and at such other locations within or without
Ohio, as the Executive reasonably deems appropriate to conduct and perform his
duties under the terms of this Agreement.

SECTION 3. COMPENSATION.

      (a) BASE SALARY. The Executive's compensation during the Employment Period
shall be $160,000.00 per year, payable in accordance with the customary
practices of the Company for its senior executives as in effect from time to
time.

      (b) FRINGE BENEFITS. During the Employment Period, Executive shall be
entitled to receive fringe benefits on the same terms and conditions as the
greater of (i) the fringe benefits received by, or available to, him from the
Company immediately before commencement of the term of this Agreement or (ii)
the fringe benefits provided by the Company or its subsidiaries which are
available to the next highest executive officer of the Company for the year.

      (c) OTHER BENEFITS. In addition, the Executive shall be entitled to
participate in all applicable incentive, savings and retirement plans,
practices, policies and programs of the

                                        2
<PAGE>   17

Company and its subsidiaries to the same extent as other senior executives of
the Company; and the Executive and/or the Executive's family as the case may be,
shall be eligible for participation in and shall receive all benefits under all
applicable welfare benefit plans, practices, policies and programs provided by
the Company and its subsidiaries, other than severance plans, practices,
policies and programs but including, without limitation, medical, prescription,
dental, disability, sick leave, employee life insurance, group life insurance,
accidental death and travel accident insurance plans and programs, to the same
extent as other senior executives of the Company.

SECTION 4. TERMINATION OF EMPLOYMENT.

      (a) DEATH OR DISABILITY. The Executive's employment shall terminate
automatically upon the Executive's death during the Employment Period. The
Company shall be entitled to terminate the Executive's employment because of the
Executive's Disability during the Employment Period. "Disability" means that (i)
the Executive has been unable, for a period of One Hundred Eighty (180)
consecutive business days, to perform the Executive's duties under this
Agreement, as a result of physical or mental illness or injury, and (ii) a
physician selected by the Company or its insurers, and acceptable to the
Executive or the Executive's legal representative, has determined that the
Executive's incapacity is total and permanent. A termination of the Executive's
employment by the Company for Disability shall be communicated to the Executive
by written notice, and shall be effective on the 30th day after receipt of such
notice by the Executive (the "Disability Effective Date"), unless the Executive
returns to full-time performance of the Executive's duties before the Disability
Effective Date.

      (b) BY THE COMPANY.

      (i) The Company may terminate the Executive's employment during the
      Employment Period for Cause or without Cause. "Cause" means illegal
      conduct or gross misconduct by the Executive, in either case that is
      willful and results in material and demonstrable damage to the business or
      reputation of the Company. No act or failure to act on the part of the
      Executive shall be considered "willful" unless it is done, or omitted to
      be done, by the Executive in bad faith or without reasonable belief that
      the Executive's action or omission was in the best interests of the
      Company. Any act or failure to act that is based upon authority given
      pursuant to a resolution duly adopted by the Board, or the advice of
      counsel for the Company, shall be conclusively presumed to be done, or
      omitted to be done, by the Executive in good faith and in the best
      interests of the Company.

      (ii) A termination of the Executive's employment for Cause shall be
      effected in accordance with the following procedures. The Company shall
      give the Executive written notice ("Notice of Termination for Cause") of
      its intention to terminate the Executive's employment for Cause, setting
      forth in reasonable detail the specific conduct of the Executive that it
      considers to constitute Cause and the specific provision(s) of this
      Agreement on which it relies, and stating the date, time and place of the
      Special Board Meeting for Cause. The "Special Board Meeting for Cause"
      means a meeting of the

                                        3
<PAGE>   18

      Board called and held specifically for the purpose of considering the
      Executive's termination for Cause, that takes place not less than ten (10)
      and not more than twenty (20) business days after the Executive receives
      the Notice of Termination for Cause. The Executive shall be given an
      opportunity, together with counsel, to be heard at the Special Board
      Meeting for Cause. The Executive's termination for Cause shall be
      effective when and if a resolution is duly adopted at the Special Board
      Meeting for Cause by affirmative vote of at least two-thirds (2/3) of the
      entire membership of the Board (excluding the Executive who shall not vote
      on this matter) stating that in the good faith opinion of the Board, the
      Executive is guilty of the conduct described in the Notice of Termination
      for Cause, and that conduct constitutes Cause under this Agreement.

      (iii) A termination of the Executive's employment without Cause shall be
      effective in accordance with the following procedures. The Company shall
      give the Executive written notice ("Notice of Termination without Cause")
      of its intention to terminate the Executive's employment without Cause,
      stating the date, time and place of the Special Board Meeting without
      Cause. The "Special Board Meeting without Cause" means a meeting of the
      Board called and held specifically for the purpose of considering the
      Executive's termination without Cause, that takes place not less than ten
      (10) nor more than twenty (20) business days after the Executive receives
      the Notice of Termination without Cause. The Executive shall be given an
      opportunity, together with counsel, to be heard at the Special Board
      Meeting without Cause. The Executive's termination without Cause shall be
      effective when and if a resolution is duly adopted at the Special Board
      Meeting without Cause by an affirmative vote of at least two-thirds (2/3)
      of the entire membership of the Board (excluding the Executive who shall
      not vote on this matter).

      (c) BY EXECUTIVE FOR GOOD REASON.

      (i) The Executive may terminate his employment for Good Reason or without
      Good Reason. "Good Reason" means:

            (A) the assignment to the Executive of any duties inconsistent in
            any respect with Section 2(a) of this Agreement, or any other action
            by the Company that results in a diminution in the Executive's
            position, authority, duties, or responsibilities, other than an
            isolated, insubstantial and inadvertent action that is not taken in
            bad faith and is remedied by the Company promptly after receipt of
            notice thereof from the Executive;

            (B) any failure by the Company to comply with any provision of
            Section 3 of this Agreement, other than an isolated, insubstantial
            and inadvertent failure that is not taken in bad faith and is
            remedied by the Company promptly after receipt of notice thereof
            from the Executive;

                                        4

<PAGE>   19

            (C) the assignment or reassignment by the Company of the Executive
            without the Executive's consent to another place of employment
            outside of the Columbus, Ohio metropolitan area;

            (D) any purported termination of the Executive's employment by the
            Company for a reason or in a manner not expressly permitted by this
            Agreement;

            (E) any failure by the Company to comply with Section 11(c) of this
            Agreement;

            (F) any other substantial breach of this Agreement by the Company
            that either is not taken in good faith or is not remedied by the
            Company promptly after receipt of notice thereof from the Executive;
            or

            (G) a Change of Control. For purposes of this section, a "Change of
            Control" means the happening of any of the following:

                  (i) When any "person" as defined in Section 3(a)(9) of the
                  Securities Exchange Act of 1934, as amended (the "Exchange
                  Act") and as used in Sub-Sections 13(d) and 14(d) thereof,
                  including a "group" as defined in section 13(d) of the
                  Exchange Act but excluding the Company and any subsidiary
                  thereof and any employee benefit plan sponsored or maintained
                  by the Company or any subsidiary (including any trustee of
                  such plan acting as trustee), directly or indirectly, becomes
                  the "beneficial owner" (as defined in Rule 13d-3 under the
                  Exchange Act, as amended from time to time), of securities of
                  the Company representing twenty (20%) percent or more of the
                  combined voting power of the Company's then outstanding
                  securities;

                  (ii) When, during any period after the commencement date of
                  this Agreement, the individuals who, at the beginning of such
                  period, constitute the Board (the "Incumbent Directors") cease
                  for any reason other than death to constitute at least a
                  majority thereof, provided that a director who was not a
                  director at the beginning of period shall be deemed to have
                  satisfied such requirement (and be an Incumbent Director) if
                  such director was elected by, or on the recommendation of or
                  with the approval of, at least two-thirds (2/3) of the
                  directors who then qualified as Incumbent Directors either
                  actually (because they were directors at the beginning of such
                  period) or by prior operation of this Section 4(c)(i)(G)(ii);
                  or

                  (iii) The occurrence of a transaction requiring stockholder
                  approval for the acquisition of the Company by an entity other
                  than the Company or a subsidiary through purchase of assets,
                  or by merger, or otherwise.

                                        5

<PAGE>   20

                        The Company and the Executive, upon mutual written
                  agreement, may waive any of the foregoing provisions which
                  would otherwise constitute Good Reason.

                  (ii) A termination of employment by the Executive for Good
                  Reason shall be effectuated by giving the Company written
                  notice ("Notice of Termination for Good Reason") of the
                  termination, setting forth in reasonable detail the specific
                  conduct of the Company that constitutes Good Reason and the
                  specific provision(s) of this Agreement on which the Executive
                  relies. A termination of employment by the Executive for Good
                  Reason shall be effective on the fifth (5th) business day
                  following the date when the Notice of Termination of or Good
                  Reason is given, unless the notice sets forth a later date
                  (which date shall in no event be later than thirty (30) days
                  after the notice is given). For purposes of this Section 4(c),
                  any good faith determination of "Good Reason" made by the
                  Executive shall be conclusive.

                  (iii) A termination of the Executive's employment by the
                  Executive without Good Reason shall be effected by giving the
                  Company written notice of the termination.

      (d) NO WAIVER. The failure to set forth any fact or circumstance in a
Notice of Termination for Cause, a Notice of Termination without Cause, or a
Notice of Termination for Good Reason shall not constitute a waiver of the right
to assert, and shall not preclude the party giving notice from asserting such
fact or circumstance in an attempt to enforce any right under or provision of
this Agreement.

      (e) DATE OF TERMINATION. The "Date of Termination" means the date of the
Executive's death, the Disability Effective Date, the date on which the
termination of the Executive's employment by the Company for Cause or without
Cause or by the Executive for Good Reason is effective, or the date on which the
Executive gives the Company notice of a termination of employment without Good
Reason, as the case may be.

SECTION 5. OBLIGATIONS OF THE COMPANY UPON TERMINATION.

      (a) BY THE COMPANY OTHER THAN FOR CAUSE OR DISABILITY; BY THE EXECUTIVE
FOR GOOD REASON. If during the Employment Period, the Company terminates the
Executive's employment, other than for Cause or Disability, or the Executive
terminates employment for Good Reason, the Company shall continue to provide the
Executive with the compensation and benefits set forth in Section 3(a), (b) and
(c) as if he had remained employed by the Company pursuant to this Agreement
through the end of the Employment Period and then retired (at which time he will
be treated as eligible for all retiree welfare benefits and other benefits
provided to retired senior executives, as set forth In Section 3(c); provided,
at the election of Executive by written notice to the Company given at any time
within sixty (60) days of the Date of Termination, the Base Salary set forth in
Section 3(a) for the entire remaining Employment Period shall be paid in a lump
sum to Executive within thirty (30) business days of the Company's receipt of
Executive's notice of such election; provided, further, that in lieu of stock
options, restricted

                                        6
<PAGE>   21

stock and other stock-based awards, the Executive shall be paid cash equal to
the fair market values as of the Date of Termination (without regard to any
restrictions and based upon a valuation model generally utilized for purposes of
valuing comparable stock based compensation awards) of the stock options,
restricted stock and other stock-based awards that would otherwise have been
granted with such cash being paid within ninety (90) days after the Date of
Termination; provided, further, that to the extent any benefits described in
Section 3(c) cannot be provided pursuant to the plan or program maintained by
the Company for its executives, the Company shall provide such benefits outside
such plan or program at no additional cost (including without limitation tax
cost) to the Executive and his family; and provided, finally, that during any
period when the Executive is eligible to receive benefits of the type described
in Section 3(c) under another employer-provided plan, the benefits provided by
the Company under Section 5(a) may be made secondary to those provided under
another plan. In addition to the foregoing, any restricted stock outstanding on
the Date of Termination shall be fully vested and exercisable and shall remain
in effect and exercisable through the end of their respective terms, without
regard to the termination of the Executive's employment. The payments and
benefits provided pursuant to this Section 5(a) are intended as liquidated
damages for a termination of the Executive's employment by the Executive for
Good Reason, and shall be the sole and exclusive remedy therefore.

      (b) DEATH OR DISABILITY. If the Executive's employment is terminated by
reason of the Executive's death or Disability during the Employment Period, the
Company shall pay to the Executive or, in the case of the Executive's death, to
the Executive's designated beneficiaries (or, if there is no such beneficiary,
to the Executive's estate or legal representative) in a lump sum in cash within
thirty (30) days after the Date of Termination, the sum of the following amounts
(the "Accrued Obligations"): (1) any portion of the Executive's Annual Base
Salary through the Date of Termination that has not yet been paid; (2) any
compensation previously deferred by Executive (together with any accrued
interest or earnings thereon) that has not yet been paid; and (3) any accrued
but unpaid vacation pay; and the Company shall have no further obligations under
this Agreement, except as specified in Section 6 below. If the Executive's
employment is terminated by reason of Disability, he shall be entitled to
receive the maximum disability payments which can be provided under the
disability plans described in Section 3(c), reduced, however, by actual
disability benefits received under such plans.

      (c) BY THE COMPANY FOR CAUSE; BY THE EXECUTIVE OTHER THAN FOR GOOD REASON.
If the Executive's employment is terminated by the Company for Cause during the
Employment Period, the Company shall pay the Executive the Annual Base Salary
through the Date of Termination and the amount of any compensation previously
deferred by the Executive (together with any accrued interest or earnings
thereon), in each case to the extent not yet paid, and the Company shall have no
further obligations under this Agreement, except as specified in Section 6
below. If the Executive voluntarily terminates employment during the Employment
Period, other than for Good Reason, the Company shall pay the Accrued
Obligations to the Executive in a lump sum in cash within thirty (30) days of
the Date of Termination, and the Company shall have no further obligations under
this Agreement, except as specified in Section 6 below.

                                        7
<PAGE>   22

SECTION 6. NONEXCLUSIVITY OF RIGHTS. Nothing in this Agreement shall prevent or
limit the Executive's continuing or future participation in any plan, program,
policy or practice provided by the Company or any of its affiliated companies
for which the Executive may qualify, nor, subject to Section 12(f), shall
anything in this Agreement limit or otherwise affect such rights as the
Executive may have under any contract or agreement with the Company or any of
its affiliated companies. Vested benefits and other amounts that the Executive
is otherwise entitled to receive under SERP or any other plan, policy, practice
or program of, or any contract or agreement with, the Company or any of its
affiliated companies on or after the Date of Termination shall be payable in
accordance with the terms of each such plan, policy, practice, program, contract
or agreement, as the case may be, except as explicitly modified by this
Agreement.

SECTION 7. FULL SETTLEMENT. The Company's obligation to make the payments
provided for in, and otherwise to perform its obligations under, this Agreement
shall not be affected by any set-off, counterclaim, recoupment, defense, or
other claim, right or action that the Company may have against the Executive or
others. In no event shall the Executive be obligated to seek other employment or
take any other action by way of mitigation of the amounts payable to the
Executive under any of the provisions of this Agreement and, except as
specifically provided in Section 5(a) with respect to benefits described in
Sections 3(a) and (b), such amounts shall not be reduced, regardless of whether
the Executive obtains other employment.

SECTION 8. NONCOMPETITION PROVISION AND CONFIDENTIAL
           INFORMATION.

      (a) Without prior written consent of the Company, for the greater of (i)
the twenty-four (24) month period following the Date of Termination, or (ii)
the remaining Employment Period of this Agreement, the Executive shall not, as a
shareholder, officer, director, partner, consultant or otherwise, engage
directly or indirectly in any business or enterprise which is "in competition"
with the Company or its successors or assigns; provided, however, that the
Executive's ownership of less than five (5%) percent of the issued and
outstanding voting securities of a publicly traded company shall not be deemed
to constitute such competition. A business or enterprise is deemed to be "in
competition" if it is engaged in the business of providing medical diagnostic
imaging and radiation therapy services in Ohio.

      (b) The Executive shall hold in a fiduciary capacity for the benefit of
the Company all secret or confidential information, knowledge or data relating
to the Company or any of its affiliated companies and their respective
businesses that the Executive obtains during the Executive's employment by the
Company or any of its affiliated companies and that is not public knowledge
(other than as a result of the Executive's violation of this Section 8)
("Confidential Information"). The Executive shall not communicate, divulge or
disseminate Confidential Information at any time during or after the Executive's
employment with the Company, except with the prior written consent of the
Company or as otherwise required by law or legal process.

                                        8
<PAGE>   23

In no event shall any asserted violation of the provisions of this Section 8
constitute a basis for deferring or withholding any amounts otherwise payable to
the Executive under this Agreement.

SECTION 9. CERTAIN ADDITIONAL PAYMENTS BY THE COMPANY.

      (a) Anything in this Agreement to the contrary notwithstanding, in the
event it shall be determined that any payment or distribution by the Company to
or for the benefit of the Executive (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise, but
determined without regard to any additional payments required under this Section
9) (a "Payment") would be subject to the excise tax imposed by Section 4999 of
the Internal Revenue code of 1986, as amended (the "Code") or any interest or
penalties are incurred by the Executive with respect to such excise tax (such
excise tax, together with any such interest and penalties, are hereinafter
collectively referred to as the "Excise Tax"), then the Executive shall be
entitled to receive an additional payment (a "Gross-Up Payment") in an amount
such that after payment by the Executive of all taxes (including any interest or
penalties imposed with respect to such taxes), including, without limitation,
any income taxes (and any interest and penalties imposed with respect thereto)
and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an
amount of the Gross-Up Payment equal to the Excise Tax imposed upon the
Payments.

      (b) Subject to the provisions of this Section 9(c), all determinations
required to be made under this Section 9, including whether and when a Gross-Up
Payment is required and the amount of such Gross-Up Payment and the assumptions
to be utilized in arriving at such determination, shall be made by a nationally
recognized certified public accounting firm designated by the Executive (the
"Accounting Firm"), which shall provide detailed supporting calculations both to
the company and the Executive within fifteen (15) business days of the receipt
of notice from the Executive that there has been a Payment, or such earlier time
as is requested by the Company. All fees and expenses of the Accounting Firm
shall be borne solely by the Company. Any Gross-Up Payment, as determined
pursuant to this Section 9, shall be paid by the Company to the Executive within
five (5) days of the receipt of the Accounting Firm's determination. Any
determination by the Accounting Firm shall be binding upon the Company and the
Executive. As a result of the uncertainty in the application of Section 4999 of
the Code at the time of the initial determination by the Accounting Firm
hereunder, it is possible that Gross-Up Payments which will not have been made
by the company should have been made ("Underpayment") consistent with the
calculations required to be made hereunder. In the event that the Company
exhausts its remedies pursuant to this Section 9(c), and the Executive
thereafter is required to make a payment of any Excise Tax, the Accounting firm
shall determine the amount of the Underpayment that has occurred and any such
Underpayment shall be promptly paid by the Company to or for the benefit of the
Executive.

      (c) The Executive shall notify the Company in writing of any claim by the
Internal Revenue Service that, if successful, would require the payment by the
Company of the Gross-Up Payment. Such notification shall be given as soon as
practicable but no later than ten (10)

                                        9
<PAGE>   24

business days after the Executive is informed in writing of such claim and shall
apprise the Company of the nature of such claim and the date on which such claim
is requested to be paid. The Executive shall not pay such claim prior to the
expiration of the thirty (30) day period following the date on which it gives
such notice to the Company (or such shorter period ending on the date that any
payment of taxes with respect to such claim is due). If the Company notifies the
Executive in writing prior to the expiration of such period that it desires to
contest such claim the Executive shall:

      (i) give the Company any information reasonably requested by the Company
      relating to such claim;

      (ii) take such action in connection with contesting such claim as the
      Company shall reasonably request in writing from time to time, including,
      without limitation, accepting legal representation with respect to such
      claim by an attorney reasonably selected by the Company;

      (iii) cooperate with the Company in good faith in order effectively to
      contest such claim; and

      (iv) permit the Company to participate in any proceedings relating to such
      claim:; provided, however, that the Company shall bear and pay directly
      all costs and expenses (including additional interest and penalties)
      incurred in connection with such contest and shall indemnify and hold the
      Executive harmless, on an after-tax basis, for any Excise Tax or income
      tax (including interest and penalties with respect thereto) imposed as a
      result of such representation and payment of costs and expenses. Without
      limitation on the foregoing provisions of this Section 9(c), the Company
      shall control all proceedings taken in connection with such contest and,
      at its sole option, may pursue or forego any and all administrative
      appeals, proceedings, hearings and conferences with the taxing authority
      in respect of such claim and may, at its sole option, either direct the
      Executive to pay the tax claimed and sue for a refund or contest the claim
      in any permissible manner, and the Executive agrees to prosecute such
      contest to a determination before any administrative tribunal, in a court
      of initial jurisdiction and in one or more appellate courts, as the
      Company shall determine; provided, however, that if the Company directs
      the Executive pay such claim and sue for a refund, the Company shall
      advance the amount of such payment to the Executive, on an interest-free
      basis and shall indemnify and hold the Executive harmless, on an after-tax
      basis, from any Excise Tax or income tax (including interest or penalties
      with respect thereto) imposed with respect to such advance or with respect
      to any imputed income with respect to such advance; and provided, further,
      that any extension of the statute of limitations relating to payment of
      taxes for the taxable year of the Executive with respect to which such
      contested amount is claimed to be due is limited solely to such contested
      amount. Furthermore, the Company's control, of the contest shall be
      limited to issues with respect to which a Gross-Up Payment would be

                                       10

<PAGE>   25

      payable hereunder and the Executive shall be entitled to settle or
      contest, as the case may be, any other issue raised by the Internal
      Revenue Service or any other taxing authority.

      (d) If, after the receipt by the Executive of an amount advanced by the
Company pursuant to this Section 9(c), the Executive becomes entitled to receive
any refund with respect to such claim, the Executive shall (subject to the
Company's complying with the requirements of this Section 9(c)) promptly pay to
the Company the amount of such refund (together with any interest paid or
credited thereon after taxes applicable thereto). If after the receipt by the
Executive of an amount advanced by the Company pursuant to this Section 9(c), a
determination is made that the Executive shall not be entitled to any refund
with respect to such claim and the Company does not notify the Executive in
writing of its intent to contest such denial of refund prior to the expiration
of thirty (30) days after such determination, then such advance shall be
forgiven and shall not be required to be repaid and the amount of such advance
shall offset, to the extent thereof, the amount of Gross-Up Payment required to
be paid.

SECTION 10. ATTORNEYS' FEES. The Company agrees to pay, as incurred, to the
fullest extent permitted by law, all legal fees and expenses that the Executive
may reasonably incur as a result of any contest (regardless of the outcome) by
the Company, the Executive or others of the validity or enforceability of or
liability under, or otherwise involving, any provision of this Agreement,
together with interest on any delayed payment at the applicable federal rate
provided for in Section 7872(f)(2)(A) of the Code.

SECTION 11. SUCCESSORS.

      (a) This Agreement is personal to the Executive and, without the prior
written consent of the Company, shall not be assignable by the Executive
otherwise than by will or the laws of descent and distribution. This Agreement
shall inure to the benefit of and be enforceable by the Executive's legal
representatives.

      (b) This Agreement shall inure to the benefit of and be binding upon the
Company and its successors and assigns.

      (c) The Company shall require any successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company expressly to assume and agree to
perform this Agreement in the same manner and to the same extent that the
Company would have been required to perform it if no such succession had taken
place. As used in this Agreement, "Company" shall mean both the Company as
defined above and any such successor that assumes and agrees to perform this
Agreement, by operation off law or otherwise.

SECTION 12. MISCELLANEOUS.

      (a) This Agreement shall be governed by, and construed in accordance with,
the laws of the State of Ohio, without reference to principles of conflict of
laws. The captions of this Agreement are not part of the provisions hereof and
shall have no force or effect. This

                                       11
<PAGE>   26

Agreement may not be amended or modified except by a written agreement executed
by the parties hereto or their respective successors and legal representatives.

      (b) All notices and other communications under this Agreement shall be in
writing and shall be given by hand delivery to the other party or by registered
or certified mail, return receipt requested, postage prepaid, addressed as
follows:

         IF TO THE EXECUTIVE:       Sheldon Gold
                                    Wendt-Bristol Health Services Corp.
                                    280 North High Street, Suite 760
                                    Columbus, OH 43215

         IF TO THE COMPANY:         Wendt-Bristol Health Services Corp.
                                    280 North High Street, Suite 760
                                    Columbus, OH 43215

or to such other address as either party furnishes to the other in writing in
accordance with this Section 12(b). Notices and communications shall be
effective when actually received by the addressee.

      (c) Subject to the last sentence of this Section 12(c), the invalidity or
unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement. If any
provision of this Agreement shall be held invalid or unenforceable in part, the
remaining portion of such provision, together with all other provisions of this
Agreement, shall remain valid and enforceable and continue in full force and
effect to the fullest extent consistent with law. However, the enforceability of
Section 8(a) shall be dependent upon the validity and enforceability of Section
5.

      (d) Notwithstanding any other provision of this Agreement, the Company may
withhold from amounts payable under this Agreement all federal, state, local and
foreign taxes that are required to be withheld by applicable laws or
regulations.

      (e) The Executive's or the Company's failure to insist upon strict
compliance with any provision of, or to assert any right under, this Agreement
(including, without limitation, the right of the Executive to terminate
employment for Good Reason pursuant to Section 4(c) of this Agreement) shall not
be deemed to be a waiver of such provision or right or of any other provision of
or right under this Agreement.

      (f) The Executive and the Company acknowledge that this Agreement
supersedes and terminates any other severance and employment agreements between
the Executive and the Company or the Company's affiliates.

      (g) The rights and benefits of the Executive under this Agreement may not
be anticipated, assigned, alienated or subject to attachment, garnishment, levy,
execution or other legal or equitable process except as required by law. Any
attempt by the Executive to anticipate, alienate, assign, sell, transfer,
pledge, encumber or charge the same shall be void. Payments

                                       12
<PAGE>   27

hereunder shall not be considered assets of the Executive in the event of
insolvency or bankruptcy.

      (h) This Agreement may be executed in several counterparts, each of which
shall be deemed an original and said counterparts shall constitute but one and
the same instrument.

      IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand
and, pursuant to the authorization of its Board of Directors, the Company has
caused this Agreement to be executed in its name on its behalf, all as of the
day and year first above written.

COMPANY:                                  EXECUTIVE:

WENDT-BRISTOL HEALTH
SERVICES CORP.

BY: /s/                                   /s/
   -----------------------------          -------------------------------
                                          SHELDON A. GOLD

                                       13
<PAGE>   28
                              EMPLOYMENT AGREEMENT

      THIS EMPLOYMENT AGREEMENT by and between WENDT-BRISTOL HEALTH SERVICES
CORP., a Delaware corporation (the "Company"), and REED MARTIN (the "Executive")
dated as of the ____ day of ____________, 2000.

                               W I T N E S S E T H

      WHEREAS, Executive has been employed with the Company on a continuous
basis since 1982; and

      WHEREAS, the Company desires to maintain the services of Executive at
Executive's current level of base compensation for a period of five (5) years;
and

      WHEREAS, the Company desires to provide for the orderly succession of
management of the Company; and

      WHEREAS, the Company considers it essential for the best interests of its
stockholders to foster the continuous employment of key management personnel
and, in this connection, the Board of Directors of the Company (the "Board")
recognizes that, as is the case with many publicly held corporations, the
possibility of a change in control may exist; the possibility and the
uncertainty and questions that it may raise among management may result in the
departure or distraction of management personnel to the detriment of the Company
and its stockholders; and

      WHEREAS, the Board has determined that appropriate steps should be taken
to reinforce and encourage the continued attention and dedication of the
Company's management, including Executive, to the assigned duties without
distraction in the face of potentially disturbing circumstances arising from the
possibility of in a change in control of the Company; and

      WHEREAS, to induce Executive to remain in the employ of the Company, in
consideration of Executive's Agreement set forth below, the Company desires that
Executive enter into this Agreement providing for a term of employment and
severance benefits in the event Executive's employment with the Company is
terminated subsequent to a "change in control of the Company" (as defined in
Section 4(c)(i)(G) below) under the circumstances described below; and

      WHEREAS, Executive wishes to serve the Company in the capacities and on
the terms and conditions set forth in this Agreement;

      NOW, THEREFORE, in consideration of Executive's continued employment and
the parties' agreement to be bound by the terms in this Agreement, the parties
agree as follows:

<PAGE>   29

SECTION 1. EMPLOYMENT PERIOD. The Company shall employ Executive, and Executive
shall serve the Company, on the terms and conditions set forth in this
Agreement. This Agreement shall commence on June 15, 2000 and shall continue in
effect through June 14, 2005 (the "Employment Period").

SECTION 2. POSITION AND DUTIES.

      (a) During the Employment Period, the Executive shall serve as the
Executive Vice President of the Company. The Executive shall serve in each such
case as an employee of the Company and with such duties and responsibilities as
are customarily assigned to such positions, and such other duties and
responsibilities not inconsistent therewith as may from time to time be assigned
to him by the Board. The Executive shall be a member of the Board and the Board
shall propose the Executive for reelection for the Board through the Employment
Period.

      (b) During the Employment Period, and excluding any periods of vacation
and sick leave to which Executive is entitled, the Executive shall devote
reasonable attention and time during normal business hours to the business and
affairs of the Company and, to the extent necessary to discharge the
responsibilities assigned to Executive under this Agreement, use the Executive's
reasonable best efforts to carry out such responsibilities faithfully and
efficiently. It shall not be considered a violation of the foregoing for the
Executive to serve on corporate, industry, civic or charitable boards or
committees, so long as such activities do not significantly interfere with the
performance of the Executive's responsibilities as an employee of the Company in
accordance with this Agreement.

      (c) The Executive's services shall be performed primarily at the Company's
headquarters in Columbus, Ohio and at such other locations within or without
Ohio, as the Executive reasonably deems appropriate to conduct and perform his
duties under the terms of this Agreement.

SECTION 3. COMPENSATION.

      (a) BASE SALARY. The Executive's compensation during the Employment Period
shall be $105,000.00 per year, payable in accordance with the customary
practices of the Company for its senior executives as in effect from time to
time.

      (b) FRINGE BENEFITS. During the Employment Period, Executive shall be
entitled to receive fringe benefits on the same terms and conditions as the
greater of (i) the fringe benefits received by, or available to, him from the
Company immediately before commencement of the term of this Agreement or (ii)
the fringe benefits provided by the Company or its subsidiaries which are
available to the next highest executive officer of the Company for the year.

      (c) OTHER BENEFITS. In addition, the Executive shall be entitled to
participate in all applicable incentive, savings and retirement plans,
practices, policies and programs of the

                                        2
<PAGE>   30

Company and its subsidiaries to the same extent as other senior executives of
the Company; and the Executive and/or the Executive's family as the case may be,
shall be eligible for participation in and shall receive all benefits under all
applicable welfare benefit plans, practices, policies and programs provided by
the Company and its subsidiaries, other than severance plans, practices,
policies and programs but including, without limitation, medical, prescription,
dental, disability, sick leave, employee life insurance, group life insurance,
accidental death and travel accident insurance plans and programs, to the same
extent as other senior executives of the Company.

SECTION 4. TERMINATION OF EMPLOYMENT.

      (a) DEATH OR DISABILITY. The Executive's employment shall terminate
automatically upon the Executive's death during the Employment Period. The
Company shall be entitled to terminate the Executive's employment because of the
Executive's Disability during the Employment Period. "Disability" means that (i)
the Executive has been unable, for a period of One Hundred Eighty (180)
consecutive business days, to perform the Executive's duties under this
Agreement, as a result of physical or mental illness or injury, and (ii) a
physician selected by the Company or its insurers, and acceptable to the
Executive or the Executive's legal representative, has determined that the
Executive's incapacity is total and permanent. A termination of the Executive's
employment by the Company for Disability shall be communicated to the Executive
by written notice, and shall be effective on the 30th day after receipt of such
notice by the Executive (the "Disability Effective Date"), unless the Executive
returns to full-time performance of the Executive's duties before the Disability
Effective Date.

      (b) BY THE COMPANY.

      (i) The Company may terminate the Executive's employment during the
      Employment Period for Cause or without Cause. "Cause" means illegal
      conduct or gross misconduct by the Executive, in either case that is
      willful and results in material and demonstrable damage to the business or
      reputation of the Company. No act or failure to act on the part of the
      Executive shall be considered "willful" unless it is done, or omitted to
      be done, by the Executive in bad faith or without reasonable belief that
      the Executive's action or omission was in the best interests of the
      Company. Any act or failure to act that is based upon authority given
      pursuant to a resolution duly adopted by the Board, or the advice of
      counsel for the Company, shall be conclusively presumed to be done, or
      omitted to be done, by the Executive in good faith and in the best
      interests of the Company.

      (ii) A termination of the Executive's employment for Cause shall be
      effected in accordance with the following procedures. The Company shall
      give the Executive written notice ("Notice of Termination for Cause") of
      its intention to terminate the Executive's employment for Cause, setting
      forth in reasonable detail the specific conduct of the Executive that it
      considers to constitute Cause and the specific provision(s) of this
      Agreement on which it relies, and stating the date, time and place of the
      Special Board Meeting for Cause. The "Special Board Meeting for Cause"
      means a meeting of the

                                        3

<PAGE>   31

      Board called and held specifically for the purpose of considering the
      Executive's termination for Cause, that takes place not less than ten (10)
      and not more than twenty (20) business days after the Executive receives
      the Notice of Termination for Cause. The Executive shall be given an
      opportunity, together with counsel, to be heard at the Special Board
      Meeting for Cause. The Executive's termination for Cause shall be
      effective when and if a resolution is duly adopted at the Special Board
      Meeting for Cause by affirmative vote of at least two-thirds (2/3) of the
      entire membership of the Board (excluding the Executive who shall not vote
      on this matter) stating that in the good faith opinion of the Board, the
      Executive is guilty of the conduct described in the Notice of Termination
      for Cause, and that conduct constitutes Cause under this Agreement.

      (iii) A termination of the Executive's employment without Cause shall be
      effective in accordance with the following procedures. The Company shall
      give the Executive written notice ("Notice of Termination without Cause")
      of its intention to terminate the Executive's employment without Cause,
      stating the date, time and place of the Special Board Meeting without
      Cause. The "Special Board Meeting without Cause" means a meeting of the
      Board called and held specifically for the purpose of considering the
      Executive's termination without Cause, that takes place not less than ten
      (10) nor more than twenty (20) business days after the Executive receives
      the Notice of Termination without Cause. The Executive shall be given an
      opportunity, together with counsel, to be heard at the Special Board
      Meeting without Cause. The Executive's termination without Cause shall be
      effective when and if a resolution is duly adopted at the Special Board
      Meeting without Cause by an affirmative vote of at least two-thirds (2/3)
      of the entire membership of the Board (excluding the Executive who shall
      not vote on this matter).

      (c) BY EXECUTIVE FOR GOOD REASON.

      (i) The Executive may terminate his employment for Good Reason or without
      Good Reason. "Good Reason" means:

            (A) the assignment to the Executive of any duties inconsistent in
            any respect with Section 2(a) of this Agreement, or any other action
            by the Company that results in a diminution in the Executive's
            position, authority, duties, or responsibilities, other than an
            isolated, insubstantial and inadvertent action that is not taken in
            bad faith and is remedied by the Company promptly after receipt of
            notice thereof from the Executive;

            (B) any failure by the Company to comply with any provision of
            Section 3 of this Agreement, other than an isolated, insubstantial
            and inadvertent failure that is

                                        4
<PAGE>   32

            not taken in bad faith and is remedied by the Company promptly after
            receipt of notice thereof from the Executive;

            (C) the assignment or reassignment by the Company of the Executive
            without the Executive's consent to another place of employment
            outside of the Columbus, Ohio metropolitan area;

            (D) any purported termination of the Executive's employment by the
            Company for a reason or in a manner not expressly permitted by this
            Agreement;

            (E) any failure by the Company to comply with Section 11(c) of this
            Agreement;

            (F) any other substantial breach of this Agreement by the Company
            that either is not taken in good faith or is not remedied by the
            Company promptly after receipt of notice thereof from the Executive;
            or

            (G) a Change of Control. For purposes of this section, a "Change of
            Control" means the happening of any of the following:

                  (i) When any "person" as defined in Section 3(a)(9) of the
                  Securities Exchange Act of 1934, as amended (the "Exchange
                  Act") and as used in Sub-Sections 13(d) and 14(d) thereof,
                  including a "group" as defined in section 13(d) of the
                  Exchange Act but excluding the Company and any subsidiary
                  thereof and any employee benefit plan sponsored or maintained
                  by the Company or any subsidiary (including any trustee of
                  such plan acting as trustee), directly or indirectly, becomes
                  the "beneficial owner" (as defined in Rule 13d-3 under the
                  Exchange Act, as amended from time to time), of securities of
                  the Company representing twenty (20%) percent or more of the
                  combined voting power of the Company's then outstanding
                  securities;

                  (ii) When, during any period after the commencement date of
                  this Agreement, the individuals who, at the beginning of such
                  period, constitute the Board (the "Incumbent Directors") cease
                  for any reason other than death to constitute at least a
                  majority thereof, provided that a director who was not a
                  director at the beginning of period shall be deemed to have
                  satisfied such requirement (and be an Incumbent Director) if
                  such director was elected by, or on the recommendation of or
                  with the approval of, at least two-thirds (2/3) of the
                  directors who then qualified as Incumbent Directors either
                  actually (because they were directors at the beginning of such
                  period) or by prior operation of this Section 4(c)(i)(G)(ii);
                  or

                                        5
<PAGE>   33

                  (iii) The occurrence of a transaction requiring stockholder
                  approval for the acquisition of the Company by an entity other
                  than the Company or a subsidiary through purchase of assets,
                  or by merger, or otherwise.

            The Company and the Executive, upon mutual written agreement, may
      waive any of the foregoing provisions which would otherwise constitute
      Good Reason.

      (ii) A termination of employment by the Executive for Good Reason shall be
      effectuated by giving the Company written notice ("Notice of Termination
      for Good Reason") of the termination, setting forth in reasonable detail
      the specific conduct of the Company that constitutes Good Reason and the
      specific provision(s) of this Agreement on which the Executive relies. A
      termination of employment by the Executive for Good Reason shall be
      effective on the fifth (5th) business day following the date when the
      Notice of Termination of or Good Reason is given, unless the notice sets
      forth a later date (which date shall in no event be later than thirty (30)
      days after the notice is given). For purposes of this Section 4(c), any
      good faith determination of "Good Reason" made by the Executive shall be
      conclusive.

      (iii) A termination of the Executive's employment by the Executive without
      Good Reason shall be effected by giving the Company written notice of the
      termination.

      (d) NO WAIVER. The failure to set forth any fact or circumstance in a
Notice of Termination for Cause, a Notice of Termination without Cause, or a
Notice of Termination for Good Reason shall not constitute a waiver of the right
to assert, and shall not preclude the party giving notice from asserting such
fact or circumstance in an attempt to enforce any right under or provision of
this Agreement.

      (e) DATE OF TERMINATION. The "Date of Termination" means the date of the
Executive's death, the Disability Effective Date, the date on which the
termination of the Executive's employment by the Company for Cause or without
Cause or by the Executive for Good Reason is effective, or the date on which the
Executive gives the Company notice of a termination of employment without Good
Reason, as the case may be.

SECTION 5. OBLIGATIONS OF THE COMPANY UPON TERMINATION.

      (a) BY THE COMPANY OTHER THAN FOR CAUSE OR DISABILITY; BY THE EXECUTIVE
FOR GOOD REASON. If during the Employment Period, the Company terminates the
Executive's employment, other than for Cause or Disability, or the Executive
terminates employment for Good Reason, the Company shall continue to provide the
Executive with the compensation and benefits set forth in Section 3(a), (b) and
(c) as if he had remained employed by the Company pursuant to this Agreement
through the end of the Employment Period and then retired (at which time he will
be treated as eligible for all retiree welfare benefits and other benefits
provided to retired senior executives, as set forth In Section 3(c); provided,
at the election of Executive by

                                       6
<PAGE>   34

written notice to the Company given at any time within sixty (60) days of the
Date of Termination, the Base Salary set forth in Section 3(a) for the entire
remaining Employment Period shall be paid in a lump sum to Executive within
thirty (30) business days of the Company's receipt of Executive's notice of such
election; provided, further, that in lieu of stock options, restricted stock and
other stock-based awards, the Executive shall be paid cash equal to the fair
market values as of the Date of Termination (without regard to any restrictions
and based upon a valuation model generally utilized for purposes of valuing
comparable stock based compensation awards) of the stock options, restricted
stock and other stock-based awards that would otherwise have been granted with
such cash being paid within ninety (90) days after the Date of Termination;
provided, further, that to the extent any benefits described in Section 3(c)
cannot be provided pursuant to the plan or program maintained by the Company for
its executives, the Company shall provide such benefits outside such plan or
program at no additional cost (including without limitation tax cost) to the
Executive and his family; and provided, finally, that during any period when the
Executive is eligible to receive benefits of the type described in Section 3(c)
under another employer-provided plan, the benefits provided by the Company under
Section 5(a) may be made secondary to those provided under another plan. In
addition to the foregoing, any restricted stock outstanding on the Date of
Termination shall be fully vested and exercisable and shall remain in effect and
exercisable through the end of their respective terms, without regard to the
termination of the Executive's employment. The payments and benefits provided
pursuant to this Section 5(a) are intended as liquidated damages for a
termination of the Executive's employment by the Executive for Good Reason, and
shall be the sole and exclusive remedy therefore.

      (b) DEATH OR DISABILITY. If the Executive's employment is terminated by
reason of the Executive's death or Disability during the Employment Period, the
Company shall pay to the Executive or, in the case of the Executive's death, to
the Executive's designated beneficiaries (or, if there is no such beneficiary,
to the Executive's estate or legal representative) in a lump sum in cash within
thirty (30) days after the Date of Termination, the sum of the following amounts
(the "Accrued Obligations"): (1) any portion of the Executive's Annual Base
Salary through the Date of Termination that has not yet been paid; (2) any
compensation previously deferred by Executive (together with any accrued
interest or earnings thereon) that has not yet been paid; and (3) any accrued
but unpaid vacation pay; and the Company shall have no further obligations under
this Agreement, except as specified in Section 6 below. If the Executive's
employment is terminated by reason of Disability, he shall be entitled to
receive the maximum disability payments which can be provided under the
disability plans described in Section 3(c), reduced, however, by actual
disability benefits received under such plans.

      (c) BY THE COMPANY FOR CAUSE; BY THE EXECUTIVE OTHER THAN FOR GOOD REASON.
If the Executive's employment is terminated by the Company for Cause during the
Employment Period, the Company shall pay the Executive the Annual Base Salary
through the Date of Termination and the amount of any compensation previously
deferred by the Executive (together with any accrued interest or earnings
thereon), in each case to the extent not yet paid, and the Company shall have no
further obligations under this Agreement, except as specified in Section 6

                                        7
<PAGE>   35

below. If the Executive voluntarily terminates employment during the Employment
Period, other than for Good Reason, the Company shall pay the Accrued
Obligations to the Executive in a lump sum in cash within thirty (30) days of
the Date of Termination, and the Company shall have no further obligations under
this Agreement, except as specified in Section 6 below.

SECTION 6. NONEXCLUSIVITY OF RIGHTS. Nothing in this Agreement shall prevent or
limit the Executive's continuing or future participation in any plan, program,
policy or practice provided by the Company or any of its affiliated companies
for which the Executive may qualify, nor, subject to Section 12(f), shall
anything in this Agreement limit or otherwise affect such rights as the
Executive may have under any contract or agreement with the Company or any of
its affiliated companies. Vested benefits and other amounts that the Executive
is otherwise entitled to receive under SERP or any other plan, policy, practice
or program of, or any contract or agreement with, the Company or any of its
affiliated companies on or after the Date of Termination shall be payable in
accordance with the terms of each such plan, policy, practice, program, contract
or agreement, as the case may be, except as explicitly modified by this
Agreement.

SECTION 7. FULL SETTLEMENT. The Company's obligation to make the payments
provided for in, and otherwise to perform its obligations under, this Agreement
shall not be affected by any set-off, counterclaim, recoupment, defense, or
other claim, right or action that the Company may have against the Executive or
others. In no event shall the Executive be obligated to seek other employment or
take any other action by way of mitigation of the amounts payable to the
Executive under any of the provisions of this Agreement and, except as
specifically provided in Section 5(a) with respect to benefits described in
Sections 3(a) and (b), such amounts shall not be reduced, regardless of whether
the Executive obtains other employment.

SECTION 8. NONCOMPETITION PROVISION AND CONFIDENTIAL
           INFORMATION.

      (a) Without prior written consent of the Company, for the greater of (i)
the twenty-four (24) month period following the Date of Termination, or (ii)
the remaining Employment Period of this Agreement, the Executive shall not, as a
shareholder, officer, director, partner, consultant or otherwise, engage
directly or indirectly in any business or enterprise which is "in competition"
with the Company or its successors or assigns; provided, however, that the
Executive's ownership of less than five (5%) percent of the issued and
outstanding voting securities of a publicly traded company shall not be deemed
to constitute such competition. A business or enterprise is deemed to be "in
competition" if it is engaged in the business of providing medical diagnostic
imaging and radiation therapy services in Ohio.

      (b) The Executive shall hold in a fiduciary capacity for the benefit of
the Company all secret or confidential information, knowledge or data relating
to the Company or any of its affiliated companies and their respective
businesses that the Executive obtains during the Executive's employment by the
Company or any of its affiliated companies and that is not public

                                        8
<PAGE>   36

knowledge (other than as a result of the Executive's violation of this Section
8) ("Confidential Information"). The Executive shall not communicate, divulge or
disseminate Confidential Information at any time during or after the Executive's
employment with the Company, except with the prior written consent of the
Company or as otherwise required by law or legal process. In no event shall any
asserted violation of the provisions of this Section 8 constitute a basis for
deferring or withholding any amounts otherwise payable to the Executive under
this Agreement.

SECTION 9. CERTAIN ADDITIONAL PAYMENTS BY THE COMPANY.

      (a) Anything in this Agreement to the contrary notwithstanding, in the
event it shall be determined that any payment or distribution by the Company to
or for the benefit of the Executive (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise, but
determined without regard to any additional payments required under this Section
9) (a "Payment") would be subject to the excise tax imposed by Section 4999 of
the Internal Revenue code of 1986, as amended (the "Code") or any interest or
penalties are incurred by the Executive with respect to such excise tax (such
excise tax, together with any such interest and penalties, are hereinafter
collectively referred to as the "Excise Tax"), then the Executive shall be
entitled to receive an additional payment (a "Gross-Up Payment") in an amount
such that after payment by the Executive of all taxes (including any interest or
penalties imposed with respect to such taxes), including, without limitation,
any income taxes (and any interest and penalties imposed with respect thereto)
and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an
amount of the Gross-Up Payment equal to the Excise Tax imposed upon the
Payments.

      (b) Subject to the provisions of this Section 9(c), all determinations
required to be made under this Section 9, including whether and when a Gross-Up
Payment is required and the amount of such Gross-Up Payment and the assumptions
to be utilized in arriving at such determination, shall be made by a nationally
recognized certified public accounting firm designated by the Executive (the
"Accounting Firm"), which shall provide detailed supporting calculations both to
the company and the Executive within fifteen (15) business days of the receipt
of notice from the Executive that there has been a Payment, or such earlier time
as is requested by the Company. All fees and expenses of the Accounting Firm
shall be borne solely by the Company. Any Gross-Up Payment, as determined
pursuant to this Section 9, shall be paid by the Company to the Executive within
five (5) days of the receipt of the Accounting Firm's determination. Any
determination by the Accounting Firm shall be binding upon the Company and the
Executive. As a result of the uncertainty in the application of Section 4999 of
the Code at the time of the initial determination by the Accounting Firm
hereunder, it is possible that Gross-Up Payments which will not have been made
by the company should have been made ("Underpayment") consistent with the
calculations required to be made hereunder. In the event that the Company
exhausts its remedies pursuant to this Section 9(c), and the Executive
thereafter is required to make a payment of any Excise Tax, the Accounting firm
shall determine the amount of the Underpayment that has occurred and any such
Underpayment shall be promptly paid by the Company to or for the benefit of the
Executive.

                                        9
<PAGE>   37

      (c) The Executive shall notify the Company in writing of any claim by the
Internal Revenue Service that, if successful, would require the payment by the
Company of the Gross-Up Payment. Such notification shall be given as soon as
practicable but no later than ten (10) business days after the Executive is
informed in writing of such claim and shall apprise the Company of the nature of
such claim and the date on which such claim is requested to be paid. The
Executive shall not pay such claim prior to the expiration of the thirty (30)
day period following the date on which it gives such notice to the Company (or
such shorter period ending on the date that any payment of taxes with respect to
such claim is due). If the Company notifies the Executive in writing prior to
the expiration of such period that it desires to contest such claim the
Executive shall:

      (i) give the Company any information reasonably requested by the Company
      relating to such claim;

      (ii) take such action in connection with contesting such claim as the
      Company shall reasonably request in writing from time to time, including,
      without limitation, accepting legal representation with respect to such
      claim by an attorney reasonably selected by the Company;

      (iii) cooperate with the Company in good faith in order effectively to
      contest such claim; and

      (iv) permit the Company to participate in any proceedings relating to such
      claim:; provided, however, that the Company shall bear and pay directly
      all costs and expenses (including additional interest and penalties)
      incurred in connection with such contest and shall indemnify and hold the
      Executive harmless, on an after-tax basis, for any Excise Tax or income
      tax (including interest and penalties with respect thereto) imposed as a
      result of such representation and payment of costs and expenses. Without
      limitation on the foregoing provisions of this Section 9(c), the Company
      shall control all proceedings taken in connection with such contest and,
      at its sole option, may pursue or forego any and all administrative
      appeals, proceedings, hearings and conferences with the taxing authority
      in respect of such claim and may, at its sole option, either direct the
      Executive to pay the tax claimed and sue for a refund or contest the claim
      in any permissible manner, and the Executive agrees to prosecute such
      contest to a determination before any administrative tribunal, in a court
      of initial jurisdiction and in one or more appellate courts, as the
      Company shall determine; provided, however, that if the Company directs
      the Executive pay such claim and sue for a refund, the Company shall
      advance the amount of such payment to the Executive, on an interest-free
      basis and shall indemnify and hold the Executive harmless, on an after-tax
      basis, from any Excise Tax or income tax (including interest or penalties
      with respect thereto) imposed with respect to such advance or with respect
      to any imputed income with respect to such advance; and provided, further,
      that any extension of the statute of limitations relating to payment of
      taxes for the taxable year of the Executive with respect to which such
      contested amount is claimed to be due is

                                       10
<PAGE>   38

      limited solely to such contested amount. Furthermore, the Company's
      control, of the contest shall be limited to issues with respect to which a
      Gross-Up Payment would be payable hereunder and the Executive shall be
      entitled to settle or contest, as the case may be, any other issue raised
      by the Internal Revenue Service or any other taxing authority.

      (d) If, after the receipt by the Executive of an amount advanced by the
Company pursuant to this Section 9(c), the Executive becomes entitled to receive
any refund with respect to such claim, the Executive shall (subject to the
Company's complying with the requirements of this Section 9(c)) promptly pay to
the Company the amount of such refund (together with any interest paid or
credited thereon after taxes applicable thereto). If after the receipt by the
Executive of an amount advanced by the Company pursuant to this Section 9(c), a
determination is made that the Executive shall not be entitled to any refund
with respect to such claim and the Company does not notify the Executive in
writing of its intent to contest such denial of refund prior to the expiration
of thirty (30) days after such determination, then such advance shall be
forgiven and shall not be required to be repaid and the amount of such advance
shall offset, to the extent thereof, the amount of Gross-Up Payment required to
be paid.

SECTION 10. ATTORNEYS' FEES. The Company agrees to pay, as incurred, to the
fullest extent permitted by law, all legal fees and expenses that the Executive
may reasonably incur as a result of any contest (regardless of the outcome) by
the Company, the Executive or others of the validity or enforceability of or
liability under, or otherwise involving, any provision of this Agreement,
together with interest on any delayed payment at the applicable federal rate
provided for in Section 7872(f)(2)(A) of the Code.

SECTION 11. SUCCESSORS.

      (a) This Agreement is personal to the Executive and, without the prior
written consent of the Company, shall not be assignable by the Executive
otherwise than by will or the laws of descent and distribution. This Agreement
shall inure to the benefit of and be enforceable by the Executive's legal
representatives.

      (b) This Agreement shall inure to the benefit of and be binding upon the
Company and its successors and assigns.

      (c) The Company shall require any successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company expressly to assume and agree to
perform this Agreement in the same manner and to the same extent that the
Company would have been required to perform it if no such succession had taken
place. As used in this Agreement, "Company" shall mean both the Company as
defined above and any such successor that assumes and agrees to perform this
Agreement, by operation off law or otherwise.

SECTION 12. MISCELLANEOUS.

      (a) This Agreement shall be governed by, and construed in accordance with,
the laws of the State of Ohio, without reference to principles of conflict of
laws. The captions of this

                                       11

<PAGE>   39

Agreement are not part of the provisions hereof and shall have no force or
effect. This Agreement may not be amended or modified except by a written
agreement executed by the parties hereto or their respective successors and
legal representatives.

      (b) All notices and other communications under this Agreement shall be in
writing and shall be given by hand delivery to the other party or by registered
or certified mail, return receipt requested, postage prepaid, addressed as
follows:

         IF TO THE EXECUTIVE:       Reed Martin
                                    Wendt-Bristol Health Services Corp.
                                    280 North High Street, Suite 760
                                    Columbus, OH 43215

         IF TO THE COMPANY:         Wendt-Bristol Health Services Corp.
                                    280 North High Street, Suite 760
                                    Columbus, OH 43215

or to such other address as either party furnishes to the other in writing in
accordance with this Section 12(b). Notices and communications shall be
effective when actually received by the addressee.

      (c) Subject to the last sentence of this Section 12(c), the invalidity or
unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement. If any
provision of this Agreement shall be held invalid or unenforceable in part, the
remaining portion of such provision, together with all other provisions of this
Agreement, shall remain valid and enforceable and continue in full force and
effect to the fullest extent consistent with law. However, the enforceability of
Section 8(a) shall be dependent upon the validity and enforceability of Section
5.

      (d) Notwithstanding any other provision of this Agreement, the Company may
withhold from amounts payable under this Agreement all federal, state, local and
foreign taxes that are required to be withheld by applicable laws or
regulations.

      (e) The Executive's or the Company's failure to insist upon strict
compliance with any provision of, or to assert any right under, this Agreement
(including, without limitation, the right of the Executive to terminate
employment for Good Reason pursuant to Section 4(c) of this Agreement) shall not
be deemed to be a waiver of such provision or right or of any other provision of
or right under this Agreement.

      (f) The Executive and the Company acknowledge that this Agreement
supersedes and terminates any other severance and employment agreements between
the Executive and the Company or the Company's affiliates.

      (g) The rights and benefits of the Executive under this Agreement may not
be anticipated, assigned, alienated or subject to attachment, garnishment, levy,
execution or other legal or equitable process except as required by law. Any
attempt by the Executive to anticipate,

                                       12
<PAGE>   40

alienate, assign, sell, transfer, pledge, encumber or charge the same shall be
void. Payments hereunder shall not be considered assets of the Executive in the
event of insolvency or bankruptcy.

      (h) This Agreement may be executed in several counterparts, each of which
shall be deemed an original and said counterparts shall constitute but one and
the same instrument.

      IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand
and, pursuant to the authorization of its Board of Directors, the Company has
caused this Agreement to be executed in its name on its behalf, all as of the
day and year first above written.

COMPANY:                                EXECUTIVE:

WENDT-BRISTOL HEALTH
SERVICES CORP.

BY: /s/                                 /s/
   -----------------------------        ---------------------------------
                                        REED MARTIN

                                       13<PAGE>   1
                                                                    Exhibit 4(b)
                       FIRST AMENDMENT TO CREDIT AGREEMENT
                                       AND
                              OTHER LOAN DOCUMENTS

         THIS FIRST AMENDMENT TO CREDIT AGREEMENT AND OTHER LOAN DOCUMENTS (the
"Amendment"), dated as of July 17, 2000 (the "Effective Date"), is among MPW
Industrial Services Group, Inc., Aquatech Environmental, Inc., Pentagon
Technologies Group, Inc., each of the other Subsidiaries of MPW Group listed on
the Schedule of Subsidiary Borrowers attached hereto, the Lenders listed on the
signature pages of this Amendment, Bank One, NA, as Administrative Agent and LC
Issuer, and National City Bank, as Documentation Agent.

                             Background Information
                             ----------------------

         A. Borrowers, Lenders, Administrative Agent, LC Issuer and
Documentation Agent entered into a certain Credit Agreement, dated as of October
20, 1999 (the "Agreement").

         B. Lenders have extended a revolving line of credit loan (the
"Revolving Loan") to Borrowers in the maximum principal amount of $100 million
pursuant to the Agreement.

         C. The Revolving Credit Loan is secured by a security interest in, lien
on and pledge of all of Borrowers' personal property pursuant to a Pledge and
Security Agreement, dated as of October 20, 1999 (the "Security Agreement").

         D. MPW Group has advised Administrative Agent of its desire to enter
into a Recapitalization Agreement (the "Recapitalization Agreement") with
certain investment partnerships affiliated with Robert W. Baird & Co.
Incorporated ("BCP") whereby one of the Borrowers, Pentagon Technologies Group,
Inc. ("PTG"), will be merged with and into a newly formed subsidiary of BCP (the
"Merger"), with PTG as the surviving corporation (PTG and the surviving
corporation are hereinafter referred to as "Pentagon"). Pursuant to the
Recapitalization Agreement and upon the consummation of the Merger, Pentagon's
issued and outstanding shares of Common Stock, which are currently owned by MPW
Management Services Corp., a subsidiary of MPW Group ("MSC"), will be converted
into shares of New Series A Preferred Stock and New Common Stock of Pentagon
(the "New Shares"). Immediately upon the consummation of the Merger, Pentagon
will redeem certain of the New Shares held by MSC (the "Redemption", and,
collectively with the Merger and the transactions contemplated by the
Recapitalization Agreement, the "Sale"), and after consummation of the Sale, MSC
will own 6,696.14 shares of New Series A Preferred Stock and 297,606.09 shares
of the New Common Stock of Pentagon (the "Retained Shares").

         E.       MPW Group has requested the consent of Lenders to the Sale.

         F. Lenders are willing to consent to the Sale, which requires that (i)
Pentagon be released from its obligations under the Agreement, the Security
Agreement and the other Loan Documents, and (ii) the Agreement, the Security
Agreement and the other Loan Documents be amended and otherwise modified, upon
and subject to the terms and conditions set forth herein.

         G. In connection with the Sale, Borrowers incurred an extraordinary
loss of $5,712,000 (the "Loss"), as shown in its quarterly financial statements
for the fiscal quarter ended March 31,
<PAGE>   2
2000 (the "Third Quarter 2000"). In calculating Consolidated EBIT in accordance
with the terms of the Agreement, Consolidated Interest Expense and expense for
taxes paid or accrued are added to Consolidated Net Income, but extraordinary
gains are not deducted from, and extraordinary losses are not added back to,
Consolidated Net Income. Borrowers have requested that the Loss be added back
when calculating Consolidated EBIT, and Lenders are willing to consent to such
request, upon and subject to the terms and conditions set forth herein.

         H. MPW Group has caused to be formed two new Subsidiaries, MPW
Industrial Services of Indiana, LLC, an Indiana limited liability company
("MPW-IN"), and MPW Industrial Cleaning Corp., an Ohio corporation ("Cleaning
Corp." and together with MPW-IN, the "New Borrowers"). Section 2.24 of the
Agreement provides that additional Subsidiaries of the Borrowers shall become
Borrowers under the Agreement, the Facility LC Applications, the Notes and the
other Loan Documents. The New Borrowers are executing this Amendment in
accordance with the requirements of the Agreement to become a Borrower under the
Agreement, the Facility LC Applications, the Notes and the other Loan Documents
in order to induce the Banks to make additional Advances and Loans to the
Borrowers and Bank One to issue additional Facility LCs and as consideration for
Advances and Loans previously made and Facility LCs previously issued.

                                   Provisions
                                   ----------

         NOW, THEREFORE, in consideration of their mutual agreements hereunder
and under the Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Borrowers and
Administrative Agent, on behalf of Lenders, Documentation Agent and LC Issuer,
hereby agree as follows:

         1. Capitalized Terms. Except as otherwise defined herein, the
capitalized terms used herein shall have the same meanings as set forth in the
Agreement.

         2. Amendment and Modification of the Agreement, the Security Agreement
and other Loan Documents. On the Effective Date:

                  (a) Pentagon shall cease to be a party to the Agreement, the
         Notes, the Security Agreement and all other Loan Documents, and the
         Agreement, the Notes, the Security Agreement and all other Loan
         Documents are hereby amended to delete Pentagon as a party thereto.

                  (b) Pentagon shall be released from all obligations, including
         payment obligations, imposed upon it as a "Borrower" under the
         Agreement, the Notes, the Security Agreement and all other Loan
         Documents.

                  (c) The limitation on Capital Expenditures by the Borrowers
         and their Subsidiaries set forth in the Agreement with respect to
         fiscal year 2000 shall be increased from $12, 000,000 to $15,000,000,
         and Section 6.16 of the Agreement shall be amended in its entirety to
         provide as follows:

                           "6.16. Capital Expenditures. Each Borrower will not,
                  nor will it permit any Subsidiary to, expend, or be committed

                                       2
<PAGE>   3
                  to expend, in excess of the following amounts for Capital
                  Expenditures during any one fiscal year in the aggregate for
                  the Borrowers and their Subsidiaries: (i) $15,000,000 during
                  fiscal years 2000 and 2001; and (ii) $17,500,000 during any
                  fiscal year thereafter. "

                  (d) All schedules to the Loan Documents listing the Subsidiary
         Borrowers are hereby amended to refer to the Schedule of Subsidiary
         Borrowers attached hereto and incorporated herein by reference and all
         such schedules to the Agreement are hereby deleted in their entirety
         and replaced with the Schedule of Subsidiary Borrowers attached hereto.

                  (e) All references in the Agreement to Schedule 1 (relating to
         Subsidiaries and Other Investments) are hereby amended to refer to
         Schedule 1 attached hereto and incorporated herein by reference and
         such Schedule 1 to the Agreement is hereby deleted in its entirety and
         replaced with the Schedule 1 attached hereto.

                  (f) All references in the Security Agreement to Exhibit A are
         hereby amended to refer to Exhibit A attached hereto and incorporated
         herein by reference and such Exhibit A to the Security Agreement is
         hereby deleted in its entirety and replaced with the Exhibit A attached
         hereto.

                  (g) Exhibit F to the Security Agreement shall be supplemented
         by the Supplement to Exhibit F attached hereto and incorporated herein
         by reference, which supplement adds offices in which financing
         statements have been filed with respect to the New Borrowers.

                  (h) In accordance with Section 2.24 of the Agreement, each of
         the New Borrowers, by their signatures below, shall become a Borrower
         under the Agreement, the Facility LC Applications, the Notes and the
         other Loan Documents with the same force and effect as if originally
         named therein as a Borrower, and each of the new Borrowers hereby (i)
         agrees to all the terms and provisions of the Agreement, the Facility
         LC Applications, the Notes and the other Loan Documents applicable to
         it as a Borrower thereunder, and (ii) represents and warrants that the
         representations and warranties made by it as a Borrower thereunder are
         true and correct on and as of the date hereof. Each reference to a
         "Borrower" in this Amendment, the Agreement, the Facility LC
         Applications, the Notes and the other Loan Documents shall be deemed to
         include each New Borrower. The Agreement, the Facility LC Applications,
         the Notes and the other Loan Documents are hereby incorporated herein
         by reference. The execution and delivery of this Amendment shall have
         the same effect as a Supplement in the form of Exhibit F attached to
         the Agreement signed by the New Borrowers. This Amendment, or a
         photocopy hereof (which shall be as effective as a manually signed
         counterpart of this Amendment) shall be attached to each Note as an
         allonge.

         3. Extraordinary Loss. Lenders hereby consent to allowing the amount of
the Loss, to the extent deducted from revenues in determining Consolidated Net
Income, to be added back when calculating Consolidated EBIT in each case where
the financial results for the Third Quarter 2000

                                       3
<PAGE>   4
are included in determining Consolidated EBIT for all purposes in accordance
with the terms of the Agreement.

         4. Release of Security Interests, Liens and Pledges.

                  (a) Subject to the terms of subsection (b) below, all security
         interests, liens and pledges granted by Pentagon with respect to its
         property to Administrative Agent for the benefit of Lenders pursuant to
         the Security Agreement shall be terminated and released on the
         Effective Date, and promptly thereafter, at Borrower's cost,
         Administrative Agent shall (i) prepare and file all necessary
         terminations and releases of such security interests, liens and
         pledges, including UCC termination statements, and (ii) deliver the
         stock certificate evidencing Pentagon's issued and outstanding shares,
         together with all stock powers, to Pentagon or Pentagon's designee.

                  (b) Notwithstanding the terms of subsection (a) above,
         Administrative Agent shall retain a security interest in, lien on and
         pledge of the Retained Shares, and the Retained Shares shall remain
         subject to the Security Agreement.

         5. Conditions to Lender's Obligations. The obligations of
Administrative Agent, on behalf of Lenders, to enter into this Amendment, and
for Lenders to be bound by the terms hereof, are subject to the satisfaction of
the following conditions precedent:

                  (a) Delivery of Documents. On or prior to the Effective Date,
         Administrative Agent shall have received the following:

                           (i) a copy of the resolutions (in form and substance
                  satisfactory to Lender) of the board of directors of each
                  Borrower authorizing (A) the execution, delivery and
                  performance of this Amendment and all other documents in
                  connection herewith or therewith, as applicable, and (B) the
                  consummation of the transactions contemplated hereby and
                  thereby, certified by the secretary or an assistant secretary
                  (or other appropriate representative) of each Borrower. Each
                  such certificate shall state that the resolutions set forth
                  therein have not been amended, modified, revoked or rescinded
                  as of the date hereof;

                           (ii) a legal opinion, in form and substance
                  satisfactory to Administrative Agent, from Borrowers' legal
                  counsel;

                           (iii) stock certificate(s) evidencing the Retained
                  Shares, together with executed stock power(s);

                           (iv) all documents and instruments, including UCC
                  financing statements, with respect to the New Borrowers as
                  Administrative Agent, in its reasonable discretion, deems
                  necessary or desirable; and

                           (v) such other certificates, documents and other
                  items as Administrative Agent, in its reasonable discretion,
                  deems necessary or desirable.

                                       4
<PAGE>   5
                  (b) Borrowers shall pay, or cause to be paid, to
         Administrative Agent the net proceeds of the Sale, which proceeds shall
         be applied to reduce the outstanding principal balance of the Revolving
         Loan.

                  (c) Representations and Warranties. The representations and
         warranties made by Borrowers in this Amendment shall be true and
         correct in all material respects as of the date of this Amendment.

         6. Exhibits and Schedules. Each Borrower confirms and warrants that the
information set forth in all schedules and exhibits to the Agreement, as
modified by Section 2 hereof, is true, accurate and complete as of the date
hereof.

         7. Truth of Representations and Warranties; No Defaults. Each Borrower
hereby represents and warrants to Lenders and Administrative Agent that the
following are true and correct as of the date of this Amendment:

                  (a) the representations and warranties of each Borrower
         contained in the Agreement are true and correct on and as of the date
         of this Amendment as if made on and as of such date, unless stated to
         relate to a specific earlier date, in which case they were true,
         correct and complete in all material respects on and as of such earlier
         date;

                  (b) all financial statements and information of Borrowers
         provided to Administrative Agent and Lenders are true, accurate and
         complete in all material respects as of the date of, and for the
         periods covered by, such financial statements and information;

                  (c) neither this Amendment nor any other document, certificate
         or written statement furnished to Administrative Agent and/or Lenders
         or to special counsel to Administrative Agent by or on behalf of any
         Borrower in connection with the transactions contemplated hereby
         contains any untrue statement of a material fact or omits to state a
         material fact necessary in order to make the statements contained
         herein and therein not misleading;

                  (d) each Borrower has full power and authority (i) to execute,
         deliver and perform this Amendment, and (ii) to incur the obligations
         provided for herein and therein, all of which have been duly authorized
         by all necessary and proper action by each Borrower;

                  (e) no consent, waiver or authorization of, or filing with,
         any person, entity or governmental authority is required to be made or
         obtained by any Borrower in connection with the execution, delivery,
         performance, validity or enforceability of this Amendment;

                  (f) this Amendment constitutes the legal, valid and binding
         obligation of Borrowers, enforceable against Borrowers in accordance
         with its terms;

                  (g) no Unmatured Default nor Default has occurred and is
         continuing; and

                                       5
<PAGE>   6
                  (h) the execution and delivery by Borrowers of this Amendment
         and the performance by Borrowers of this Amendment: (i) do not and will
         not violate any law or regulation; (ii) do not and will not violate any
         order, decree or judgment by which any Borrower is bound; (iii) do not
         and will not violate or conflict with, result in a breach of or
         constitute (with notice, lapse of time, or otherwise) a default under
         any material agreement, mortgage, indenture or other contractual
         obligation to which any Borrower is a party, or by which any Borrower's
         properties are bound; or (iv) do not and will not result in the
         creation or imposition of any lien upon any property or assets of any
         Borrower.

         8. Reaffirmation of Liability. Each Borrower, excluding Pentagon,
hereby reaffirms its liability to Lender under the Agreement, Security
Agreement, the Notes, the other Loan Documents and all other agreements and
instruments executed by Borrowers for the benefit of Administrative Agent and
Lenders in connection with the Agreement (collectively, the "Bank Documents").
Without limiting the generality of the foregoing, and notwithstanding the
release of Pentagon from such obligations, each Borrower, excluding Pentagon,
reaffirms all of its payment obligations, including with respect to the
Revolving Loan under the Agreement and the Notes and with respect to the
Facility LCs. In addition, each Borrower, including Pentagon, agrees that
Administrative Agent, each Lender, LC Issuer and Documentation Agent have
performed all of their obligations under the Bank Documents and that none of
Administrative Agent, any Lender, LC Issuer or Documentation Agent is in default
under any obligation any of them has or ever did have to any Borrower under the
Bank Documents or any other agreement.

         9. Effectiveness of Amendment. All of the terms, covenants and
conditions of, and the obligations of Borrowers under, the Bank Documents shall
remain in full force and effect as amended hereby.

         10. Preservation of Existing Security Interests. Except with respect to
the release of the security interest, lien and pledge in certain property owned
by Pentagon as set forth in Section 4 hereof, each mortgage, security interest,
pledge, assignment, lien or other conveyance or encumbrance of any right, title,
or interest in any property of any kind delivered to Administrative Agent for
the benefit of Lenders at any time by any Borrower or any other Person in
connection with the Bank Documents or to secure the performance of the
obligations of Borrowers under the Bank Documents, including pursuant to the
Security Agreement, shall remain in full force and effect following the
execution of this Amendment.

         11. Applicable Law. This Amendment shall be deemed to be a contract
made under the laws of the State of Ohio and for all purposes shall be construed
in accordance with the laws of such state.

         12. Severability. Any provision of this Amendment that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
only to the extent of such prohibition or unenforceability, without invalidating
the remaining provisions hereof or affecting the validity or enforceability of
such provision in any other jurisdiction.

                                       6
<PAGE>   7
         13. Counterparts. This Amendment 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.

         14. Amendments and Supplements. This Amendment may not be amended or
supplemented except by an instrument in writing executed by Borrowers and Agent.

         15. Covenants to Survive, Binding Agreement. This Amendment shall be
binding upon and inure to the benefit of Borrowers, Lenders, Administrative
Agent, LC Issuer and Documentation Agent and their respective successors or
assigns; provided, however, that Borrowers may not assign or otherwise dispose
of any of its rights or obligations hereunder.

         16. Entire Agreement. This Amendment embodies the entire agreement and
understanding among Borrowers and Administrative Agent, on behalf of Lenders,
relating to, and supersedes all prior agreements and understandings among
Borrowers and Administrative Agent and Lenders relating to, the subject matter
hereof.

         17. Headings. The headings of the sections of this Amendment are for
convenience only and shall not affect the meaning or interpretation of this
Amendment.

         18. Interpretation. This Amendment is to be deemed to have been
prepared jointly by the parties hereto, and any uncertainty or ambiguity
existing herein shall not be interpreted against any party but shall be
interpreted according to the rules for the interpretation of arm's length
agreements.

         19. WAIVER OF JURY TRIAL. EACH BORROWER, ADMINISTRATIVE AGENT,
DOCUMENTATION AGENT, LC ISSUER AND EACH LENDER HEREBY WAIVE TRIAL BY JURY IN ANY
JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER
SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO,
OR CONNECTED WITH ANY LOAN DOCUMENT OR THE RELATIONSHIP ESTABLISHED THEREUNDER.

                                       7
<PAGE>   8
         IN WITNESS WHEREOF, the parties hereto have made this Amendment
effective as of the day and year first above written.

                                      Pentagon Technologies Group, Inc.

                                      By:  /s/ Daniel P. Buettin
                                           -------------------------------------
                                           Daniel P. Buettin, Vice President and
                                           Chief Financial Officer

                                      BORROWERS:
                                      MPW Industrial Services Group, Inc.

                                      By:  /s/ Daniel P. Buettin
                                           -------------------------------------
                                           Daniel P. Buettin, Vice President and
                                           Chief Financial Officer

                                      Aquatech Environmental, Inc.

                                      By:  /s/ Peter G. Schumacher
                                           -------------------------------------
                                           Peter G. Schumacher, Vice President
                                           and Treasurer

                                      Each of the Other Borrowers Listed
                                      on the Schedule of Subsidiary Borrowers

                                      By:  /s/ Daniel P. Buettin
                                           -------------------------------------
                                           Daniel P. Buettin, Vice President and
                                           Chief Financial Officer

 [Signatures of Lenders, Administrative Agent, LC Issuer and Documentation Agent
                          Continued on Following Pages]

                                       8
<PAGE>   9
                                             BANK ONE, NA,
                                              as a Lender and as Administrative
                                              Agent and LC Issuer

                                             By: /s/ Michael R. Zakshesky
                                                 -------------------------------

                                             Name: Michael R. Zaksheksy
                                                   -----------------------------

                                             Title: Vice President
                                                    ----------------------------

                                       9
<PAGE>   10
                                             NATIONAL CITY BANK,
                                              as a Lender and as Documentation
                                              Agent

                                             By: /s/ Brian T. Strayton
                                                 -------------------------------

                                             Name: Brian T. Strayton
                                                   -----------------------------

                                             Title: Vice President
                                                    ----------------------------

                                       10
<PAGE>   11
                                             LASALLE BANK NATIONAL ASSOCIATION

                                             By: /s/ Bijon Talaie
                                                 -------------------------------

                                             Name: Bijon Talaie
                                                   -----------------------------

                                             Title: Commercial Banking Officer
                                                    ----------------------------

                                       11
<PAGE>   12
                                             SUNTRUST BANK,
                                             (fka SunTrust Bank, Central
                                             Florida, N.A.)

                                             By: /s/ Stephen L. Leister
                                                 -------------------------------

                                             Name: Stephen L. Leister
                                                   -----------------------------

                                             Title: Vice President
                                                    ----------------------------

                                       12
<PAGE>   13
                        SCHEDULE OF SUBSIDIARY BORROWERS

MPW Industrial Services, Inc.
MPW Management Services Corp.
MPW Filtration Management Services Corp.
MPW Industrial Water Services, Inc.
MPW Container Management Corp.
MPW Container Management Corp. of Michigan
ESI International, Inc.
ESI-North Limited
Gauthier Enterprises, Inc.
MPW Industrial Services of Indiana, LLC
MPW Industrial Cleaning Corp.

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                       CONSENT AND AGREEMENT OF GUARANTORS

         Each of the undersigned, MPW Industrial Services, Ltd. and MPW
Industrial, Sociedad de Responsibilidad Limitada de Capital Variable (the
"Guarantors"), being a guarantor pursuant to the Subsidiary Guaranty dated as of
October 20, 1999 in favor of Lenders (the "Guaranty") whereby each of Guarantors
has guaranteed the payment and performance of the Borrowers' obligations and
indebtedness owed to Lenders, joins in the execution of this Amendment and
hereby consents and agrees to the terms, conditions, execution and performance
of the this Amendment. Each of Guarantors has read and understands all terms and
provisions of the Guaranty, the Bank Documents and this Amendment, and agrees
that all of the terms, covenants and conditions of, and the obligations of each
of Guarantors under, the Guaranty shall continue in full force and effect and be
binding upon Guarantors.

         Each of Guarantors represents and warrants that all representations and
warranties contained in the Guaranty are true, correct and complete in all
material respects on and as of the date hereof to the same extent as though made
on and as of this date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true, correct
and complete in all material respects on and as of such earlier date.

         Each of Guarantors hereby reaffirms its liability to Lenders under the
Guaranty and all other agreements and instruments executed by each of Guarantors
for the benefit of Lenders in connection therewith. Each of Guarantors agrees
that Administrative Agent, each Lender, LC Issuer and Documentation Agent have
performed all of their obligations under the Bank Documents and that none of
Administrative Agent, any Lender, LC Issuer or Documentation Agent is in default
under any obligation any of them has or ever did have to either of Guarantors
under the Guaranty or the other Bank Documents or any other agreement.

         Each of Guarantors acknowledges and agrees that (i) notwithstanding the
conditions to effectiveness set forth in this Amendment, each of Guarantors is
not required by the terms of the Guaranty or any other Bank Document to consent
to the terms of this Amendment, and (ii) nothing in the Guaranty, this Amendment
or any other Bank Document shall require, or be deemed to require, the consent
of either of Guarantors to any future amendments to any Bank Document.

GUARANTOR:                                  GUARANTOR:

MPW Industrial Services, Ltd.               MPW Industrial, Sociedad de
                                            Responsibilidad Limitada de Capital
                                            Variable
By:   /s/ Daniel P. Buettin
      ---------------------                 By:  /s/ Daniel P. Buettin
Name:  Daniel P. Buettin                         ---------------------
       --------------------                 Name:  Daniel P. Buettin
Title:   Vice President                            -------------------
         ------------------                 Title:    Vice President
                                                      ----------------

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