Document:

Exhibit
        10.20

    

     

    EMPLOYMENT
      AGREEMENT

    

    This
      Employment Agreement (the “Agreement”), entered into as of the 28th
      day of
      February 2006 and effective as of the 1st
      day of
      March 2006 (the “Effective Date”) by and between Azur Holdings, Inc., a Delaware
      company (“Corporation”), and Donald Goree (the “Executive”).

     

    Recitals

    

    A.
      Executive
      has certain expertise in real estate development business and the public
      equities markets. 

    

    B. The
      Corporation desires to engage the Executive as an executive to the
      Corporation.

    

    C. The
      Executive and the Corporation desire to enter into this Agreement in accordance
      with the terms and conditions set forth herein below.

    

    D. This
      Agreement shall supersede and replace all prior employment and consulting
      agreements between the Corporation and the Executive.

    

    NOW,
      THEREFORE,
      in
      consideration for the mutual covenants and promises contained herein, and other
      good and valuable considera-tion, the receipt and sufficiency of which is hereby
      acknowledged, the parties agree as follows:

    

    
      	
              1.

            	
              EXECUTIVE
                SERVICES.
                During the term of this Agreement, the Executive shall serve as Chairman
                of the Board of Directors and Chief Executive Officer of the Corporation
                (collectively the “Position”) and shall perform all duties commensurate
                with the Position and as may reasonably be assigned to his from time
                to
                time by the Board of Directors of the Corporation (“the “Directors”) or
                their designee. The Executive shall use his best efforts, skills
                and
                abilities to promote the interests of the Corporation and to diligently
                and competently perform faithfully and efficiently the duties of
                the
                Position. Executive acknowledges that he may need to spend time traveling
                from time to time working on Corporation projects. The Executive
                shall,
                during the term of this Agreement, devote his full-time efforts,
                attention
                and energies to the performance of his duties hereunder.   

            

    

    

    During
      the term of this Agreement Executive shall be required to comply with all
      corporate procedures and policies developed by the Board of Directors of the
      Corporation. 

    

    
      	
              2.

            	
              TERM.
                The term of the Agreement will commences on the Effective Date (the
                “Commencement Date”), and shall continue for a period of 6 months from the
                Commencement Date, ending on the final day of the 6th
                month following the Commencement Date (the “Initial Term”). This Agreement
                may thereafter be renewed, by written notice to the Executive delivered
                to
                Executive 90 days prior to the expiration of the Initial Term or
                the
                Renewal Term, as the case may be, at the option of the Corporation
                for an
                addition six (6) month term (“Renewal Term”). If this Agreement is
                renewed, the Renewal Term shall commence on the first (1st)
                day following the expiration of the Initial Term.
                

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
    

     

    
      	
              3.

            	
              COMPENSATION.
                The
                full annual compensation for the services to be rendered by Executive
                hereunder shall be comprised of the
                following:

            

    

    

    
      	 	 	
              Salary.
                The Executive’s salary shall be Three Hundred Sixty Thousand
                Dollars
                ($360,000) per annum
                (“Salary”) payable on the 15th
                and last day of each month in arrears, in accordance with Corporation’s
                standard payroll practices. 

            

    

    
    

     

    
      	
              4.

            	
              TERMINATION.
                

            

    

      

    
      	 	
              4.1

            	
              Termination
                By Corporation For Cause.
                The Agreement may be terminated by the Corporation for cause by the
                Board.
                For the purposes of this Agreement the term “Cause” means the Executive’s:
                

            

    

    
    

     

    
      	 	 	
              (a)
                willful appropriation or conversion for his own use of property or
                money
                belonging to the Corporation; 

            

    

    
    

     

    
      	 	 	
              (b)
                material violation of this Agreement, which is not cured within ten
                (10)
                days after written notice by the Corporation to the Executive;
                

            

    

    

    
      	 	 	
              (c)
                substance abuse and/or refusal to submit to periodic substance screening
                tests as determined by the Corporation from time to time;
                

            

    

    
    

     

    
      	 	 	
              (d)
                commission of fraud, embezzlement, theft or other crimes, in any
                case,
                whether or not involving the Company, that in the reasonable opinion
                of
                the Board, render the executive’s employment harmful to the Corporation;
                

            

    

    

    
      	 	 	
              (e)
                commission of a felony; and 

            

    

     

    
      (d)
        in
        the occurrence a case is brought forth against the Executive for violation
        of
        any securities or corporate laws.   

    

    

    
      	 	 	
              In
                the event the Executive is terminated for Cause, the Corporation
                shall pay
                the Executive his Salary through the date of termination and, no
                other
                benefits hereunder shall be paid to Executive.

            

    

     

    
      	
            	4.2.	
              Termination
                By Corporation Without Cause.
                The Corporation may terminate the Agreement without Cause by the
                Board. In
                the event the Executive is terminated for any reason other than “Cause” as
                defined in Section 4.1, as the Executive’s sole remedy and severance. the
                Executive shall be entitled to continue receiving his Salary for
                the
                period consisting of the shorter of: (i) six (6) months after date
                of
                termination; or, (ii) the remaining balance of the Initial Term or
                Additional Term, as the case may be, of this Agreement then in effect,
                and
                the Executive shall receive any bonuses which have accrued pursuant
                to
                this Agreement as of the date of termination.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
            	4.3.	
              Termination
                By Executive For Good Reason.
                The Agreement may be terminated by the Executive for Good Reason.
                For the
                purpose of this Agreement, the term “Good Reason” means the Corporation’s
                material violation of this Agreement, which is not cured within ten
                (10)
                days after written notice of the violation by the Executive to the
                Corporation, or if the Corporation takes any actions, without the
                Executive’s consent, which may be deemed to be a material violation of any
                applicable local, state or federal laws, regula-tions or codes.
                  

            

    

    

    In
      the
      event the Executive terminates this Agreement for Good Reason, the Executive
      shall be entitled to continue receiving his Salary for the period consisting
      of
      the shorter of: i) the balance of the term of this Agreement, as if this
      Agreement had not been terminated; or, ii) six (6) months after date of
      termination, and the Executive shall receive any bonuses which have accrued
      as
      of the date of termination. 

    

    
      	
            	4.4.	
              Termination
                By Executive Without Good Reason.
                The Executive may not terminate the Agreement at any time without
                Good
                Reason 

            

    

     

    
      	
            	4.5	
              Death.
                In the event of Executive's death during the term of this Agreement,
                the
                Corporation shall have no further obligations to make payments or
                otherwise under this Agreement, except that the Corporation shall
                pay to
                Executive's estate within ten (10) days after the date of Executive's
                death (i) any accrued unpaid Salary to which Executive was entitled
                as of
                the date of death; (ii) any amounts due to Executive as of the date
                of
                death as reimbursement of expenses under Section 5.6 below; and,
                , and the
                Executive’s estate shall receive any bonuses which have accrued.
                

            

    

    

    
      	
            	4.6	
              Disability.
                If Executive becomes unable due to a mental or physical disability
                to
                perform the services required of Executive pursuant to this Agreement,
                as
                determined in good faith by the Board, for an aggregate of six (6)
                months
                in any twelve (12) month period (a "Disability"),
                the Corporation, at its option, may terminate Executive's employment
                hereunder (the date of such termination, the "Disability
                Date"),
                and, thereafter, Executive shall not be deemed to be employed under
                this
                Agreement and the Corporation shall have no further obligations to
                make
                payments or otherwise under this Agreement. In the event of a Disability,
                the Corporation shall pay to Executive within ten (10) days after
                the
                Disability Date (i) any unpaid accrued Salary as of the Disability
                Date,
                (ii) any amount due to Executive as of the Disability Date as
                reimbursement of expenses under Section 5.6, and, (iii) the Executive
                shall receive any bonuses which have accrued as of the date of
                termination. Nothing in this Agreement is intended to cause the
                Corporation to be in violation of the Americans with Disabilities
                Act.

            

    

    

    
      	
              5.

            	
              BENEFITS.
                The Executive shall be entitled to the following benefits in addition
                to
                those provided to all other employees of the
                Corporation:

            

    

    

    
      	 	
              5.1.

            	
              Vacation.
                Executive shall be entitled to reasonable paid vacation periods,
                not
                exceeding ten (10)
                working days during the term hereof, in addition to any legal holidays
                recognized by the Corporation. Vacation days must be taken during
                the
                corresponding calendar year and may not be accumulated from year
                to year.
                Vacation schedules must be agreed upon with the Chairman of the Board
                of
                Directors to ensure competent management of the Corporation in the
                Executive's absence.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	
              5.2.

            	
              Pension
                Plan.
                The Executive will participate in any pension plan provided by the
                Corporation to its other
                executives.

            

    

    

    
      	 	
              5.3.

            	
              Health
                Insurance.
                The Corporation agrees to provide Executive with health insurance
                which
                shall be paid on the Thirtieth (30) Day of each month.  

            

    

    

    
      	 	
              5.4.

            	
              Reimbursement
                of Expenses.
                During the Term of this Agreement, the Executive shall be entitled
                to
                reimbursement for reasonable business expenses incurred by the Executive
                on behalf of the Corporation in connection with the performance of
                his
                services under this Agreement within 15 days of submission of reasonable
                supporting documentation. The Corporation shall use its best efforts
                to
                supply Executive with a business expenses credit card. For purposes
                of
                this Agreement the term “business expenses” shall mean food and lodging
                while Executive travels on Corporation business, equivalent to Executive’s
                current standard of living, and reasonable travel expenses. First
                Class
                travel on all domestic and transatlantic flights shall be deemed
                reasonable. 

            

    

    

    
      	 	
              5.5.

            	
              Other
                Benefits.
                During the term of the Agreement, Executive shall be entitled to
                participate in any insurance programs, stock option plans, bonus
                plans,
                pension plans and other fringe benefit plans and programs as are
                from time
                to time established and maintained for the benefit of the Corporation’s
                employees of comparable rank and status as Executive, subject to
                the
                provisions of such plans and
                programs.

            

    

     

    5.6. Taxes. The
      Executive shall be responsible for all his personal tax liabilities as to all
      taxable benefits received by the Executive from the Corporation
      hereunder.

    

    
      	
              6.

            	
              OWNERSHIP
                OF INFORMATION AND DOCUMENTS.
                Executive shall promptly communicate and disclose to the Corporation
                on
                request all information obtained by him in the course of his employment
                relating to the business of the Corporation. All written reports,
                recommendations, advice, records, documents and other materials prepared
                or obtained by Executive or coming into his possession during his
                employment hereunder which relate to the performance by the Corporation
                or
                its business shall be the sole and exclusive property of the Corporation
                and, at the end of Executive's employment hereunder, or at the request
                of
                the Board of Directors during the period of Executive's employment
                hereunder, Executive shall promptly deliver all such written materials
                to
                the Corporation. Executive shall prepare and submit to the Corporation
                such regular periodic reports as the Board of Directors may request
                with
                respect to the acti-vities undertaken by him or conducted under his
                direction in con-nection with the business of the Corporation during
                his
                employment hereunder. Such reports and the information contained
                therein
                shall be and remain the sole property of the
                Corporation.

            

    

    

    (a) Continued
      Assistance.
      The
      Executive must assist the Corporation at such reasonable times as the
      Corporation may request, subject to reasonable availability, with respect to
      any
      continuing matters respecting the business of the Corporation, and he must
      assist the Corporation in maintaining relationships with those persons and
      firms
      with whom the Corporation has been doing business, including clients, vendors
      and others useful to the Corporation. If the Executive’s employment with the
      Corporation has been terminated, the Executive will be reimbursed for all
      expenses incurred on behalf of the Corporation and will receive compensation
      on
      an hourly basis at a rate no less than $300.00 per hour.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (b) Confidentiality.
      Except
      for information in the public domain and information authorized by the
      Corporation to be disclosed, the Executive must not, for any reason or in any
      manner whatsoever use, communicate, divulge or otherwise exploit for his own
      benefit or for the benefit of any other person or entity any name, address
      or
      other sensitive business information concerning any employee, agent, client
      or
      any other confidential information of the Corporation or concerning any trade
      secret or information of a confidential nature relating but not limited to
      the
      ownership, operation or management of the business of the Corporation
      (including, without limitation, financial affairs, services, employees,
      employees' compensation, business strategies and contractual relationships).
      Information described in the preceding sentence is referred to collectively
      herein as "Restricted Information." 

    

    (c) Non-Interference.
      The
      Executive must not, for any reason or in any manner whatsoever interfere with
      the Corporation's relationship with their Clients, employees, agents or referral
      sources. Without limiting the definition of "interference" and by way of example
      only, the following are agreed to constitute interference within the meaning
      of
      this Agreement if done without the express written consent of the Corporation,
      unless conducted within the normal scope of the Executive's managerial duties
      for the benefit of the Corporation; (i) using or disclosing Restricted
      Information in any discussion or contacts with employees, agents or referral
      sources; (ii) commenting on the business practices, procedures or policies
      of
      the Corporation to any employee, agent or referral source of the Corporation;
      or, (iii) seeking to employ or engage or assisting any other person seeking
      to
      employ or engage any employee of the Corporation. 

    

    
      	
              9.

            	
              NOTICES.
                All notices hereunder shall be given in writing by registered or
                certified
                mail, postage prepaid, addressed to the parties at the following
                respective addresses, or at such other address as may from time to
                time be
                designated by either party to the other hereunder or by hand delivery
                or
                telecopy indicating receipt as
                follows:

            

    

    

    

    To
      the
      Executive:

    

    Donald
      H.
      Goree    

    757
      SE
      17th ST. #301

    Ft.
      Lauderdale, FL 33316

     

    To
      the
      Corporation:

    

    Azur
      Holdings Inc. 

    101
      NE.
      3rd
      Avenue,
      Suite 1220

    Ft.
      Lauderdale, FL 33301 

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    
      	
              10.

            	
              SPECIFIC
                PERFORMANCE.
                The parties hereto acknowledge and agree that the executive and managerial
                services to be rendered by Executive hereunder are of such a special,
                unique and extraordinary character that it gives them a peculiar
                value
                impossible to replace and for the loss of which the Corporation cannot
                be
                reasonably or adequately compensated in damages, and Executive
                acknowledges and agrees that a breach by him of the provisions of
                Sections
                6, 7 or 8 of this Agreement hereof will cause the Corporation irreparable
                injury and damage. Executive, therefore, expressly agrees that the
                Corporation shall be entitled to injunctive and/or other equitable
                relief
                to prevent a breach of Sections 6, 7 or 8 of this Agreement and to
                secure
                their enfor-cement. Nothing herein shall be construed as a waiver
                by the
                Corporation of any right it may now have or hereafter acquire to
                monetary
                damages by reason of any injury to its property, busi-ness or reputation
                arising out of any wrongful act or omission of
                Executive.

            

    

    

    
      	
              11.

            	
              ENTIRE
                AGREEMENT.
                All prior negotiations of the parties or any party relating to the
                subject
                matter hereof, have been merged in and are superseded by this instrument,
                and contain the entire Agreement of the parties, and there are no
                promises, agreements, understandings, representations, warran-ties
                or
                conditions of any nature not set forth in these instruments, made
                as an
                inducement to the execution hereof or
                otherwise.

            

    

    

    
      	
              12.

            	
              NO
                WAIVERS.
                No failure by either party hereto to exercise, and no delay in exercising,
                any right hereunder shall operate as a waiver thereof, nor shall
                any
                single or partial exercise of any right hereunder by either party
                preclude
                any other or future exercise of that right or any other right hereunder
                by
                that party.

            

    

    

    
      	
              13.

            	
              SEVERABILITY.
                If any provision of this Agreement shall be held to be invalid,
                unenforceable or illegal, in whole or in part, in any jurisdiction
                under
                any circumstances for any reason, (a) such provision shall be reformed
                to
                the minimum extent necessary to cause such provision to be valid,
                enforceable and legal while preserving the intent of the parties
                as
                expressed in, and the benefits to the parties provided by, this Agreement,
                or (b) if such provision cannot be so reformed, such provision shall
                be
                severed from this Agreement and an adjustment shall be made to this
                Agreement (including, without limitation, addition of necessary further
                provisions to this Agreement) so as to give effect to the intent
                as so
                expressed and the benefits so provided. Such holding shall not affect
                or
                impair the validity, enforceability or legality of such provision
                in any
                other jurisdiction or under any other circumstances. Neither such
                holding
                nor such reformation or severance shall affect or impair the legality,
                validity or enforceability of any other provision of this
                Agreement.

            

    

    

    
      	
              14.

            	
              APPLICABLE
                LAW.
                This Agreement shall be construed under and governed by the law of
                Florida.

            

    

    

    
      	
              15.

            	
              ASSIGNMENT.
                This Agreement, and the rights conferred hereby, shall not be assignable,
                in whole or in part, by either party, except that the Corporation
                may
                assign this Agreement to, and it shall be binding upon, any person,
                firm
                or company with which the Corporation may be merged or consolidated
                or
                which may acquire all or substantially all of the assets of the
                Corporation.

            

    

    

    
      	
              16.

            	
              AMENDMENT.
                This Agreement may not be amended, terminated or super-seded except
                by an
                agreement in writing between the Corporation and
                Executive.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
    

     

    
      	
              17.

            	
              COUNTERPARTS.
                This Agreement may be executed in one or more counter-parts, each
                of which
                shall be deemed an original hereof but all of which together shall
                constitute one and the same
                document.

            

    

    

    
      	
              18.

            	
              NO
                VERBAL AGREEMENTS.
                There are and there will be no verbal agreements in any way modifying
                the
                terms of this Agreement.

            

    

    

    
      	
              19.

            	
              INDEPENDENT
                LEGAL COUNSEL.
                The Executive and Corporation hereby represents that they have employed
                their own independent legal counsel and tax advisors to review and
                advise
                their respective positions with respect to legal and tax consequences
                of
                this Agreement. Neither party has not solicited or relied on the
                other’s
                legal or tax advisors for any advice with respect to this
                Agreement.

            

    

    

    
      	
              20.

            	
              ARBITRATION.
                Except any dispute under which the remedy of specific performance
                is
                sought under Section 10, hereof, all disputes arising in connection
                with
                this Agreement will be finally settled under the rules of the American
                Arbitration Association (the “Rules”), by three arbitrators, one to be
                selected by the Corporation, one to be selected by the Executive,
                and one
                selected by the arbitrators selected by the Executive and Corporation.
                The
                selection of the arbitrators will be in accordance with the Rules.
                The
                place of arbitration will be in Miami, Florida. The procedural law
                applicable to the dispute will be the Florida Rules of Civil Procedure.
                The substantive law applicable to the merits of the case will be
                the
                Florida law as in effect at the date of this Agreement. The parties
                agree
                that the award of the arbitrators: will be the sole and exclusive
                remedy
                between them regarding any claims, counterclaims, issues or accountings
                presented or pled to the arbitrators; that it will be made and will
                promptly be payable in U.S. dollars free of any tax, deduction or
                offset;
                and that any costs, fees or taxes, including attorneys' fees, paralegal
                and law clerk fees, incident to enforcing the award will, to the
                maximum
                extent permitted by law, be charged against the party resisting such
                enforcement. The award will include interest from the date of any
                damages
                incurred for the breach or other violation of the Agreement, and
                from the
                date of the award until paid in full, at a rate to be fixed by the
                arbitrators, but in no event less than the London Interbank Offering
                Rate
                (“LIBOR”) per annum quoted for the corresponding period by Chase Manhattan
                Bank in the London Interbank Market of the United States Dollars
                for
                immediately available funds; provided, however, that in no event
                will the
                rate of interest chargeable or collectible on any such award exceed
                the
                highest lawful rate permitted from time to time under Florida law.
                For
                purposes of determining the highest lawful rate, under Florida law,
                the
                parties hereby select the “indicated rate ceiling” as in effect from time
                to time during the periods in which such award remains unpaid. All
                notices
                by one party to the other, in connection with the arbitration, must
                be in
                writing and must be deemed to have been duly given or made if delivered,
                mailed by registered air mail, return receipt requested, or telecopied
                to
                their addresses shown in the Corporation's books and
                records.

            

    

     

    
      	
              21.

            	
              RECITALS.
                The recitals set forth on the first page of this Agreement are true
                and
                correct and are incorporated herein by
                reference.

            

    

    

    
      	
              22.

            	
              ATTORNEYS'
                FEES.
                In the event judicial or ad-ministrative proceedings or action is
                brought
                by one party against another party with respect to the interpretation
                or
                enforcement of this Agree-ment, the prevailing party shall be entitled
                to
                recover reasonable costs and attorneys' fees, paralegal and law clerk
                fees, at the investigative, pre-trial, trial administrative, bankruptcy
                and appellate levels. 

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	23.	 	
              EXECUTIVE’S
                REPRESENTATIONS AND WARRANTIES.
                The Executive represents and warrants that he is legally free to
                make and
                perform this Agreement, that he has no obligation to any other person
                or
                entity that would affect or conflict with any of his obligations
                hereunder, and the complete performance of his obligations hereunder
                will
                not violate any law, regulation, order, or decree of any governmental
                or
                jurisdictional body or contract by which he is bound.  

            

    

    

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
      executed the day and year first above written.

    

        

     

    
      
        	 In the presence of:	COMPANY:
	 	 	 
	 	AZUR
                HOLDINGS
                INC.
	 
 	 
 	 
 
	 /s/
                Albert
                Lazo	By:  	/s/ Donald
                Winfrey
	
                
                  

                

                Witness

              	
                
Donald
                Winfrey,
                President

      

      
        	 	 	 
	 	EXECUTIVE:
	 
 	 
 	 
 
	/s/
                Albert Lazo	By:  	/s/ Donald
                Goree
	
                
                  
Witness

              	
                
Donald
                H. Goree 

      

    

     

    

    8Exhibit
      10.21

    

    

    EMPLOYMENT
      AGREEMENT

    

    THIS
      EMPLOYMENT AGREEMENT, (the “Agreement”), entered into on the 28th
      day of
      February 2006 and effective as of the 1st
      day
      March 2006 (the “Effective Date”), by and between Donald C. Winfrey (the
“Executive”), and Azur Holdings, Inc., a Delaware corporation (collectively the
“Corporation”).

    

    RECITALS

    

    WHEREAS,
      the Corporation hereby agrees to employ the Executive, and the Executive hereby
      accepts such employment, pursuant to the terms and conditions hereinafter set
      forth.

    

    NOW,
      THEREFORE, in consideration of the mutual covenants herein con-tained and other
      good and valuable consideration, receipt of which is hereby acknowledged, the
      parties hereby agree as follows:

    

    1. EXECUTIVE'S
      DUTIES.
      The
      Corporation hereby agrees to employ Executive to render his services during
      the
      term hereof, in an executive capacity as President (the “Position”) and
      Executive hereby accepts such employment by the Corporation, on and subject
      to
      the terms and con-ditions of this Agreement. Executive acknowledges that due
      to
      the nature of the Corporation’s business he may have to travel
      abroad.

     

    The
      Executive shall use the Executive’s professional efforts, skills and abilities
      to promote the interests of the Corporation and to diligently and competently
      perform faithfully and efficiently the duties of the Position. 

    

    The
      Executive shall, during the term of this Agreement, devote his full time
      attention and energies to the performance of his duties hereunder.

     

    During
      the term of this Agreement the Company agrees to comply with all ap-plicable
      laws, regulations and codes to which it may be subject from time to time. The
      Company further agrees not to instruct the Executive to take any actions or
      perform any services, which may be deemed to be a violation of such applicable
      laws, regula-tions or codes

     

    2. COMPENSATION.
      

    

    2.1. Salary
      The
      Executive’s salary shall be Two Hundred Forty Thousand
      and 00/100 Dollars ($240,000.00) per annum
      (“Salary”) payable on the 1st
      and the
      15th
      day of
      each month in arrears, in accordance with Corporation’s standard payroll
      practices.  

     

    2.2 Additional
      Term.
      The
      Salary shall be increased at a rate of no less than 10% per 12 months of service
      over the previous 12 months’ Salary (“Minimum Increase”). Any increases above
      the Minimum Increase shall be at the discretion of the Company.

     

    3. TERM.
      The term
      of Executive's employment hereunder will commence as of the Effective Date
      and
      will continue without interruption for a period of Six (6) months (the “Initial
      Term”). After the Initial Term, the Agreement shall renew automatically for
      additional Six (6) month periods (the “Additional Term”) on the terms set forth
      herein unless the Agreement is terminated by either party in writing within
      thirty days prior to the expiration of the Initial Term or the applicable
      Additional Term as the case may be. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4. TERMINATION.
      

      

    4.1  Termination
      By Corporation For Cause.
      The
      Agreement may be terminated by the Corporation for cause. For the purposes
      of
      this Agreement the term “Cause” means the Executive’s: (a) willful appropriation
      or conversion for his own use of property or money belonging to the Corporation;
      (b) violation of this Agreement; (c) excessive absences not authorized by this
      Agreement or by the Corporation; (d) substance abuse and/or refusal to submit
      to
      periodic substance screening tests as determined by the Corporation from time
      to
      time; (e) in the occurrence a case is brought forth against the Executive for
      violation of any securities or corporate laws; (f) breach of Section 8(d) of
      this Agreement concerning confidentiality.   

    In
      the
      event the Executive is terminated for Cause, the Corporation shall pay the
      Executive his Salary through the date of termination and, no other benefits
      hereunder shall be paid to Executive. 

    

    4.2.
       Termination
      By Corporation Without Cause.
      The
      Corporation may terminate the Agreement without Cause. In the event the
      Executive is terminated for any reason other than Cause as defined in Section
      4.2, the Executive shall be entitled to continue receiving his Salary, as a
      severance payment, for the period consisting of the shorter of: (i) four (4)
      months after date of termination; or, (ii) the remaining balance of the Initial
      Term or Additional Term, as the case may be, of this Agreement then in effect.
        

    4.3.
      Termination
      By Executive For Good Reason.
      The
      Agreement may be terminated by the Executive for Good Reason. For the purpose
      of
      this Agreement, the term “Good Reason” means the Corporation’s material
      violation of this Agreement, which is not cured within ten (10) days after
      written notice of the violation by the Executive to the Corporation.

     

     In
      the
      event the Executive terminates this Agreement for Good Reason, the Executive
      shall be entitled to continue receiving his Salary for the period consisting
      of
      the shorter of: i) the balance of the term of this Agreement, as if this
      Agreement had not been terminated; or, ii) four (4) months after date of
      termination.

    

    4.4.
       Termination
      By Executive Without Good Reason.
      The
      Executive may terminate the Agreement at any time without Good Reason.

     

    4.5
       Death.
      In the
      event of Executive's death during the term of this Agreement, the Corporation
      shall have no further obligations to make payments or otherwise under this
      Agreement, except that the Corporation shall pay to Executive's estate within
      ten (10) days after the date of Executive's death (i) any accrued unpaid Salary
      to which Executive was entitled as of the date of death, and (ii) any amounts
      due to Executive as the date of death as reimbursement of expenses under Section
      5.4.

     

    4.6
      Disability.
      If
      Executive becomes unable due to a mental or physical disability to perform
      the
      services required of Executive pursuant to this Agreement, as determined in
      good
      faith by the Board of Directors of the Corporation, for an aggregate of thirty
      (30) days in any twelve (12) month period (a "Disability"),
      the
      Corporation, at its option, may terminate Executive's employment hereunder
      with
      cause (the date of such termination, the "Disability
      Date"),
      and,
      thereafter, Executive shall not be deemed to be employed under this Agreement
      and the Corporation shall have no further obligations to make payments or
      otherwise under this Agreement. In the event of a Disability, the Corporation
      shall pay to Executive within ten (10) days after the Disability Date (i) any
      accrued unpaid Salary to which Executive was entitled as of the date of death,
      and (ii) any amounts due to Executive as the date of death as reimbursement
      of
      expenses under Section 5.4. Nothing in this Agreement is intended to cause
      the
      Corporation to be in violation of the Americans with Disabilities
      Act.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    5. BENEFITS.
      The
      Executive shall be entitled to the following benefits in addition to those
      provided to all other employees of the Corporation:

    

    5.1. Vacation.
      Executive shall be entitled to reasonable paid vacation periods, not exceeding
      ten (10)
      working days during the term hereof, in addition to any legal holidays
      recognized by the Corporation. Vacation days must be taken during the
      corresponding calendar year and may not be accumulated from year to year.
      Vacation schedules must be agreed upon with the Chairman of the Board of
      Directors of the Corporation (the “Chairman”) to ensure competent management of
      the Corporation in the Executive's absence.

    

    5.2. Pension
      Plan.
      The
      Executive will participate in any pension plan provided by the Corporation
      to
      its other executives.

    

    5.3. Health
      Insurance. The
      Corporation agrees to provide Executive with a $400 dollar per month health
      insurance stipend which shall be paid on the Thirtieth (30) Day of each
      month.

    

    5.4. Miscellaneous
      Expenses.
      The
      Corporation shall reimburse the Executive for any expenses incurred in
      connection with such his employment including business travel, cellular phone,
      continued education courses and other expenses (collectively “the Expenses”) as
      the Executive and the Corporation agree from time to time.

    

    5.5 Other
      Benefits.
      During
      the term of the Agreement, Executive shall be entitled to participate in any
      insurance programs, stock option plans, bonus plans, pension plans and other
      fringe benefit plans and programs as are from time to time established and
      maintained for the benefit of the Corporation’s employees of comparable rank and
      status as Executive, subject to the provisions of such plans and
      programs.

     

      6. OWNERSHIP
      OF INFORMATION AND DOCUMENTS.
      Executive shall promptly communicate and disclose to the Corporation on request
      all information obtained by his in the course of his employment relating to
      the
      business of the Corporation. All written reports, recommendations, advice,
      records, documents and other materials prepared or obtained by Executive or
      coming into his possession during his employment hereunder which relate to
      the
      performance by the Corporation or its business shall be the sole and exclusive
      property of the Corporation and, at the end of Executive's employment hereunder,
      or at the request of the Chairman during the period of Executive's employment
      hereunder, Executive shall promptly deliver all such written materials to the
      Corporation. Executive shall prepare and submit to the Corporation such regular
      periodic reports as the Chairman may request with respect to the acti-vities
      undertaken by his or conducted under his direction in con-nection with the
      business of the Corporation during his employment hereunder. Such reports and
      the information contained therein shall be and remain the sole property of
      the
      Corporation.

    

    7. INTANGIBLE
      PROPERTY.
      Executive shall assign to the Corporation, immediately upon the execution of
      this Agreement, or thereafter, immediately upon making or acquiring them, as
      the
      case may be, any and all inven-tions, processes, discoveries, “know-how”,
      improvements, patent rights, letters, patents, copyrights, trademarks, service
      marks, trade names and applications therefore and all rights and interest in,
      to
      and under the same which he may legally transfer, now possessed by his or
      hereafter made, acquired, or possessed by his during the term of this Agreement,
      relating in any way to the business and activities of, or the equipment,
      devices, processes, and formulae connected with the Corporation's business
      or
      any other business conducted by the Corporation and agrees that, upon request,
      he will promptly make all disclo-sures, execute all instruments and papers,
      and
      perform all acts whatsoever necessary or desired by the Corporation to vest
      and
      con-firm in it, its successors, assigns and nominees, fully and completely,
      all
      rights created or contemplated by this Section and which may be necessary or
      desirable to enable the Corporation and its successors, assigns and nominees
      to
      secure and enjoy the full benefits and advantages thereof. 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    8. COVENANT
      NOT TO COMPETE AND CONTINUED ASSISTANCE.
      During
      the term of this Agreement, as extended from time to time, and for a period
      of 2
      years, with respect to subparagraphs (a)-(e), below, after the termination
      or
      expiration of this Agreement, whether by the Executive or the Corporation,
      for
      any reason whatsoever, the Executive warrants and agrees that:

    

    (a) Non-Participation
      in Similar Business.
      The
      Executive must not, alone or as an officer, agent, employee, director,
      stockholder, investor, partner (except as to not more than one percent (1%)
      of
      the outstanding stock of any company the securities of which are traded on
      a
      regular basis on recognized securities exchanges or over-the-counter markets
      as
      reported in The
      Wall Street Journal)
      of any
      other entity, directly or indirectly, own, manage, operate, control, or
      participate in the ownership, management, operation or control of, or work
      for
      or permit the use of her name by, or be connected in any manner with, any
      business in the United States or the European Union similar to or competition
      with the business of the Corporation. While the restrictions set forth above
      are
      considered by the Parties to be reasonable in all the circumstances, it is
      recognized that restrictions of the nature in question may fail for unforeseen
      technical reasons and accordingly, it is hereby agreed and declared that if
      any
      of such restrictions will be adjudged to be void as going beyond what is
      reasonable in all the circumstances for the protection of the interests of
      the
      Corporation but would be valid if part of the wording thereof were deleted
      or
      the period (if any) thereof reduced or the range of activities or area dealt
      with thereby reduced in scope, said restriction will apply with such
      modifications as may be necessary to make it valid and effective. 

     

    (b) Non-Solicitation. The
      Executive must not, except on behalf of the Corporation, directly or indirectly,
      contact or solicit business from any employee, client, suppler, financier,
      bank,
      or other source of the Corporation and the Executive must not own, operate,
      manage, or render assistance to any facility or anyone else which contacts
      or
      solicits any employee, client, supplier, financier, bank, or other source of
      the
      Corporation.

    

    (c) Continued
      Assistance.
      The
      Executive must assist the Corporation at such reasonable times as the
      Corporation may request, subject to reasonable availability, with respect to
      any
      continuing matters respecting the business of the Corporation, and she must
      assist the Corporation in maintaining relationships with those persons and
      firms
      with whom the Corporation has been doing business, including clients, vendors
      and others useful to the Corporation. If the Executive’s employment with the
      Corporation has been terminated, the Executive will be reimbursed for all
      expenses incurred on behalf of the Corporation and will receive compensation
      on
      an hourly basis at a rate no less than $75.00 per hour.

    

    (d) Confidentiality.
      Except
      for information in the public domain and information authorized by the
      Corporation to be disclosed, the Executive must not, for any reason or in any
      manner whatsoever use, communicate, divulge or otherwise exploit for her own
      benefit or for the benefit of any other person or entity any name, address
      or
      other sensitive business information concerning any employee, agent, client
      or
      any other confidential information of the Corporation or concerning any trade
      secret or information of a confidential nature relating but not limited to
      the
      ownership, operation or management of the business of the Corporation
      (including, without limitation, financial affairs, services, employees,
      employees' compensation, business strategies and contractual relationships).
      Information described in the preceding sentence is referred to collectively
      herein as "Restricted Information." 

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (e) Non-Interference.
      The
      Executive must not, for any reason or in any manner whatsoever interfere with
      the Corporation's relationship with their Clients, employees, agents or referral
      sources. Without limiting the definition of "interference" and by way of example
      only, the following are agreed to constitute interference within the meaning
      of
      this Agreement if done without the express written consent of the Corporation,
      unless conducted within the normal scope of the Executive's managerial duties
      for the benefit of the Corporation; (i) using or disclosing Restricted
      Information in any discussion or contacts with employees, agents or referral
      sources; (ii) commenting on the business practices, procedures or policies
      of
      the Corporation to any employee, agent or referral source of the Corporation;
      or, (iii) seeking to employ or engage or assisting any other person seeking
      to
      employ or engage any employee of the Corporation. 

    

    9. NOTICES.
      All
      notices hereunder shall be given in writing by registered or certified mail,
      postage prepaid, addressed to the parties at the following respective addresses,
      or at such other address as may from time to time be designated by either party
      to the other hereunder or by hand delivery or telecopy indicating receipt as
      follows:

     

    To
      the
      Executive:

    

    Donald
      Winfrey    

    _____________________

    _____________________  

     

    To
      the
      Corporation:

    

    Azur
      Holdings, Inc

    101
      NE
      3rd
      Avenue,
      Suite 1220

    Ft.
      Lauderdale, FL 33301 

    

    10. SPECIFIC
      PERFORMANCE.
      The
      parties hereto acknowledge and agree that the executive and managerial services
      to be rendered by Executive hereunder are of such a special, unique and
      extraordinary character that it gives them a peculiar value impossible to
      replace and for the loss of which the Corporation cannot be reasonably or
      adequately compensated in damages, and Executive acknowledges and agrees that
      a
      breach by his of the provisions of Sections 6, 7 or 8 of this Agreement hereof
      will cause the Corporation irreparable injury and damage. Executive, therefore,
      expressly agrees that the Corporation shall be entitled to injunctive and/or
      other equitable relief to prevent a breach of Sections 6, 7 or 8 of this
      Agreement and to secure their enfor-cement. Nothing herein shall be construed
      as
      a waiver by the Corporation of any right it may now have or hereafter acquire
      to
      monetary damages by reason of any injury to its property, busi-ness or
      reputation arising out of any wrongful act or omission of
      Executive.

    

    11. ENTIRE
      AGREEMENT.
      All
      prior negotiations of the parties or any party relating to the subject matter
      hereof, have been merged in and are superseded by this Agreement. This Agreement
      contains the entire agreement of the parties, and there are no promises,
      agreements, understandings, representations, warran-ties or conditions of any
      nature not set forth in this Agreement, made as an inducement to the execution
      hereof or otherwise.

    

    12. NO
      WAIVERS.
      No
      failure by either party hereto to exercise, and no delay in exercising, any
      right hereunder shall operate as a waiver thereof, nor shall any single or
      partial exercise of any right hereunder by either party preclude any other
      or
      future exercise of that right or any other right hereunder by that
      party.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    13. SEVERABILITY.
      If any
      provision of this Agreement shall be held to be invalid, unenforceable or
      illegal, in whole or in part, in any jurisdiction under any circumstances for
      any reason, (a) such provision shall be reformed to the minimum extent necessary
      to cause such provision to be valid, enforceable and legal while preserving
      the
      intent of the parties as expressed in, and the benefits to the parties provided
      by, this Agreement, or (b) if such provision cannot be so reformed, such
      provision shall be severed from this Agreement and an adjustment shall be made
      to this Agreement (including, without limitation, addition of necessary further
      provisions to this Agreement) so as to give effect to the intent as so expressed
      and the benefits so provided. Such holding shall not affect or impair the
      validity, enforceability or legality of such provision in any other jurisdiction
      or under any other circumstances. Neither such holding nor such reformation
      or
      severance shall affect or impair the legality, validity or enforceability of
      any
      other provision of this Agreement.

     

    14. APPLICABLE
      LAW.
      This
      Agreement shall be construed under and governed by the law of
      Florida.

    

    15. ASSIGNMENT.
      This
      Agreement, and the rights conferred hereby, shall not be assignable, in whole
      or
      in part, by either party, except that the Corporation may assign this Agreement
      to, and it shall be binding upon, any person, firm or company with which the
      Corporation may be merged or consolidated or which may acquire all or
      substantially all of the assets of the Corporation.

    

    16. AMENDMENT.
      This
      Agreement may not be amended, terminated or super-seded except by an agreement
      in writing between the Corporation and Executive.

     

    17. COUNTERPARTS.
      This
      Agreement may be executed in one or more counter-parts, each of which shall
      be
      deemed an original hereof but all of which together shall constitute one and
      the
      same document.

    

    18. NO
      VERBAL AGREEMENTS.
      There
      are and there will be no verbal agreements in any way modifying the terms of
      this Agreement.

    

    19. INDEPENDENT
      LEGAL COUNSEL.
      The
      Executive and Corporation hereby represents that they have employed their own
      independent legal counsel and tax advisors to review and advise their respective
      positions with respect to legal and tax consequences of this Agreement. Neither
      party has solicited or relied on the other’s legal or tax advisors for any
      advice with respect to this Agreement.

     

    20. ARBITRATION.
      Except
      any dispute under which the remedy of specific performance is sought under
      Section 10, hereof, all disputes arising in connection with this Agreement
      will
      be finally settled under the rules of the American Arbitration Association
      (the
“Rules”), by three arbitrators, one to be selected by the Corporation, one to be
      selected by the Executive, and one selected by the arbitrators selected by
      the
      Executive and Corporation. The selection of the arbitrators will be in
      accordance with the Rules. The place of arbitration will be in Miami, Florida.
      The procedural law applicable to the dispute will be the Florida Rules of Civil
      Procedure. The substantive law applicable to the merits of the case will be
      the
      Florida law as in effect at the date of this Agreement. The parties agree that
      the award of the arbitrators: will be the sole and exclusive remedy between
      them
      regarding any claims, counterclaims, issues or accountings presented or pled
      to
      the arbitrators; that it will be made and will promptly be payable in U.S.
      dollars free of any tax, deduction or offset; and that any costs, fees or taxes,
      including attorneys' fees, paralegal and law clerk fees, incident to enforcing
      the award will, to the maximum extent permitted by law, be charged against
      the
      party resisting such enforcement. The award will include interest from the
      date
      of any damages incurred for the breach or other violation of the Agreement,
      and
      from the date of the award until paid in full, at a rate to be fixed by the
      arbitrators, but in no event less than the London Interbank Offering Rate
      (“LIBOR”) per annum quoted for the corresponding period by Chase Manhattan Bank
      in the London Interbank Market of the United States Dollars for immediately
      available funds; provided, however, that in no event will the rate of interest
      chargeable or collectible on any such award exceed the highest lawful rate
      permitted from time to time under Florida law. For purposes of determining
      the
      highest lawful rate, under Florida law, the parties hereby select the “indicated
      rate ceiling” as in effect from time to time during the periods in which such
      award remains unpaid. All notices by one party to the other, in connection
      with
      the arbitration, must be in writing and must be deemed to have been duly given
      or made if delivered, mailed by registered air mail, return receipt requested,
      or telecopied to their addresses shown in the Corporation's books and
      records.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    21. RECITALS.
      The
      recitals set forth on the first page of this Agreement are true and correct
      and
      are incorporated herein by reference.

    

    22. ATTORNEYS'
      FEES.
      In the
      event judicial or ad-ministrative proceedings or action is brought by one party
      against another party with respect to the interpretation or enforcement of
      this
      Agree-ment, the prevailing party shall be entitled to recover reasonable costs
      and attorneys' fees, paralegal and law clerk fees, at the investigative,
      pre-trial, trial administrative, bankruptcy and appellate levels. 

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
      executed the day and year first above written.

     

    
      	 	COMPANY:
	 	 	 
	 	AZUR
              HOLDINGS,
              INC.
	 
 	 
 	 
 
	 	By:  	/s/ Albert
              J.
              Lazo
	 	
              
Albert
              J. Lazo, Corporate
              Secretary

    

     

    
      	 	 	 
	 	EXECUTIVE:
	 
 	 
 	 
 
	 	By:  	/s/ Donald
              Winfrey
	 	
              
Donald
              Winfrey, President

    

    

    7

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