Document:

SHARE EXCHANGE AGREEMENT

This Share Exchange  Agreement  ("Agreement")  between  Wickliffe  International
Corporation,   a  Nevada  corporation   ("WICK");   Douglas  C.  MacLellan  (the
"Shareholders  Representative"),  as representative of the persons listed in the
persons listed in EXHIBIT A hereof (the "Werke Shareholders"),  being the owners
of record of all of the issued and outstanding  stock of Werke  Pharmaceuticals,
Inc., a Delaware  corporation  ("WERKE");  and Shenyang  Tianwei  Pharmaceutical
Factory, a Chinese corporation ("STPF"), is entered into as of June 20, 2002.

                                    RECITALS

         A.   WERKE and STPF are currently the joint owners of Shenyang  Tainwei
Werke  Pharmaceutical  Co., Ltd. ("STWP"),  a Sino-foreign  equity joint venture
company  formed in 2001 to finance and expand an existing  northern  China-based
pharmaceutical manufacturing and sales company.

         B.   Currently, through the  equity  joint  venture  structure,  55% of
STWP is owned by STPF and 45% is owned by WERKE.

         C.   STPF has the right to convert its interest in  STWP into equity in
WERKE so that WERKE will own a 100% interest in STWP.

         D.   STPF ntends to exercise  its right to convert its interest in STWP
into equity in WERKE in order to facilitate  the  transactions  contemplated  by
this Agreement.  Following such  conversion,  STPF and/or its principals will be
Shareholders of WERKE.

         E.   The Shareholders have authorized the Shareholders  Representative,
pursuant to the Agreement to Appoint Shareholders  Representative annexed hereto
as  EXHIBIT B to sell to WICK,  and WICK has agreed to  purchase  from the Werke
Shareholders  100% of the common stock of WERKE (the "WERKE  Stock") in exchange
for shares of the outstanding common shares of WICK (the "WICK Stock"), pursuant
to the terms and conditions set forth in this Agreement.

         F.   WERKE will become a wholly owned subsidiary of WICK.

NOW  THEREFORE,  in  consideration  of the mutual  representations,  warranties,
covenants  and  agreements  contained in this  Agreement,  the parties  agree as
follows:

1.       Exchange of Stock.
         -----------------

         (a)      The Werke  Shareholders  agree to transfer  to WICK,  and WICK
                  agrees to  purchase  from the Werke  Shareholders,  all of the
                  Werke  Shareholders'  right,  title and  interest in the WERKE
                  Stock,  representing  100% of the issued and outstanding stock
                  of WERKE,  free and clear of all  mortgages,  liens,  pledges,
                  security  interests,  restrictions,  encumbrances,  or adverse
                  claims of any nature.

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         (b)      At the Closing (as defined in Section 2 below), upon surrender
                  by the Werke  Shareholders of the certificates  evidencing the
                  WERKE Stock, duly endorsed for transfer to WICK or accompanied
                  by stock powers  executed in blank by the Werke  Shareholders,
                  WICK will cause  11,000,000  shares (subject to adjustment for
                  fractionalized shares as set forth below) of the common voting
                  stock, par value $.001 of WICK (the "WICK Stock") to be issued
                  to the  Werke  Shareholders  (or  their  designees),  in  full
                  satisfaction  of any right or interest which each  Shareholder
                  held in the WERKE Stock.  The WICK Stock will be issued to the
                  Werke Shareholders on a pro rata basis, in the same proportion
                  as the percentage of their ownership interest in WERKE, as set
                  forth on EXHIBIT A (subject to adjustment as set forth below),
                  at the Closing. As a result of the exchange of the WERKE Stock
                  for  the  WICK  Stock,   WERKE  will  become  a  wholly  owned
                  subsidiary of WICK.

         (c)      EXHIBIT A, may be amended by WERKE at or prior to the  Closing
                  in  order  to give  effect  to the  conversion  by STPF of its
                  interest  in STWP into  equity in WERKE and to  reflect  other
                  changes in the capital  structure of WERKE which may be caused
                  by  investment  into  WERKE  by  third  parties  prior  to the
                  Closing.  Any  additional  shareholders  which  are  added  to
                  EXHIBIT  A, at or prior to  Closing  will agree to be bound by
                  the terms of this Agreement, either directly or by signing the
                  Agreement  to  Appoint  Shareholders  Representative  attached
                  hereto as EXHIBIT B, however,  their failure to do so prior to
                  Closing will not effect the validity or enforceability of this
                  Agreement  as between the present  parties.  In no event shall
                  WICK be required  to issue any  additional  securities,  other
                  than as set forth  herein,  as a result of any  changes in the
                  capital structure of WERKE at or prior to the Closing.

2.       Closing.
         -------

         (a)      The  parties  to  this  Agreement  will  hold a  closing  (the
                  "Closing")  for the purpose of executing and exchanging all of
                  the  documents  contemplated  by this  Agreement and otherwise
                  effecting the transactions contemplated by this Agreement. The
                  Closing  will be held as soon as possible  and it is currently
                  anticipated  that it will occur within one week  following the
                  completion  of the Audit of WERKE and STWP,  at the offices of
                  the Company's  agent in Rockville,  Maryland,  unless  another
                  place  or time is  mutually  agreed  upon  in  writing  by the
                  parties.  All  proceedings to be taken and all documents to be
                  executed  and  exchanged at the Closing will be deemed to have
                  been taken,  delivered  and  executed  simultaneously,  and no
                  proceeding will be deemed taken nor documents  deemed executed
                  or  delivered  until  all  have  been  taken,   delivered  and
                  executed.  If agreed to by the  parties,  the Closing may take
                  place through the exchange of documents by fax and/or  express
                  courier.

         (b)      With the exception of any stock  certificates which must be in

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                  their original form, any copy,  fax,  e-mail or other reliable
                  reproduction of the writing or  transmission  required by this
                  Agreement  or any  signature  required  thereon may be used in
                  lieu of an original  writing or  transmission or signature for
                  any and all  purposes  for which the  original  could be used,
                  provided that such copy, fax, e-mail or other  reproduction is
                  a  complete  reproduction  of the entire  original  writing or
                  transmission  or original  signature,  and the  originals  are
                  promptly delivered thereafter.

3.       Representations and Warranties of WICK.
         --------------------------------------

         WICK represents and warrants as follows:

         (a)      WICK is a corporation duly organized, validly existing, and in
                  good  standing  under the laws of the  State of Nevada  and is
                  licensed or qualified as a foreign  corporation  in all states
                  in which  the  nature  of its  business  or the  character  or
                  ownership   of  its   properties   makes  such   licensing  or
                  qualification necessary.

         (b)      The   authorized   capital  stock  of  WICK  consists  of  (i)
                  25,000,000 shares of common stock, $0.001 par value per share,
                  of which,  1,669,180  shares are issued and  outstanding as of
                  June 15, 2002; and (ii) no preferred  stock.  To the knowledge
                  of WICK,  all issued and  outstanding  shares of WICK's common
                  stock are fully paid and nonassessable.

         (c)      Other  than as set forth on  SCHEDULE  3(C)  attached  hereto,
                  there  are  no   subscription   rights,   options,   warrants,
                  convertible   securities,   or  other  rights  (contingent  or
                  otherwise)   presently   outstanding,    for   the   purchase,
                  acquisition,  or sale of the  capital  stock of  WICK,  or any
                  securities  convertible into or exchangeable for capital stock
                  of WICK or other  securities of WICK,  from or by WICK.  There
                  are no outstanding  obligations of WICK to repurchase,  redeem
                  or otherwise  acquire any of its shares and there will be none
                  of the foregoing outstanding at the Closing.

         (d)      WICK has no subsidiaries.

         (e)      Execution of this Agreement and  performance by WICK hereunder
                  has been duly authorized by all requisite  corporate action on
                  the part of WICK, and this  Agreement  constitutes a valid and
                  binding obligation of WICK, and WICK's  performance  hereunder
                  will  not  violate  any  provision  of  any  charter,   bylaw,
                  indenture,  mortgage,  lease,  or  agreement,  or  any  order,
                  judgment,   decree,   or,  to  WICK's  knowledge  any  law  or
                  regulation,  to which any  property  of WICK is  subject or by
                  which WICK is bound.

         (f)      Other than as set forth on SCHEDULE 3(F) attached hereto, WICK
                  has no assets or liabilities  and the same will be represented
                  in audited  financial  statements  of WICK for the fiscal year
                  ended June 30, 2001, and  the unaudited  financial  statements

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                  for any interim period which may be prepared prior to closing.

         (g)      There  is no  litigation  or  proceeding  pending  or  to  the
                  Company's  knowledge  threatened  against or relating to WICK,
                  its properties or business.

         (h)      WICK is not a party to any material contract.  For purposes of
                  this  Agreement  "material"  shall  mean any  contract,  debt,
                  liability, claim or other obligation valued or otherwise worth
                  $2,000 or more.

         (i)      Other than Charles Smith,  WICK has no officers,  directors or
                  employees.

         (j)      No current  officer,  director,  affiliate  or person known to
                  WICK to be the record or  beneficial  owner of in excess of 5%
                  of WICK's common stock, or any person known to be an associate
                  of any of the  foregoing  is a party  adverse to WICK or has a
                  material  interest  adverse  to WICK in any  material  pending
                  legal proceeding.

         (k)      WICK has filed in correct form all federal,  state,  and other
                  tax returns of every nature required to be filed by it and has
                  paid all taxes and all assessments,  fees and charges which it
                  is  obligated  to  pay  by  federal,  state  or  other  taxing
                  authority to the extent that such taxes, assessments, fees and
                  charges have become due. WICK has also paid all taxes which do
                  not require the filing of returns and which are required to be
                  paid by it. To the extent that tax  liabilities  have accrued,
                  but  have  not  become  payable,  they  have  been  adequately
                  reflected as liabilities on the books of WICK.

         (l)      WICK is a publicly reporting company pursuant to Section 12(g)
                  of the Securities Exchange Act of 1934, as amended (the "Act")
                  and is in compliance  with all reporting  requirements  of the
                  Act.  WICK's Form 10-KSB for the period  ending  December  31,
                  2000, its Form 10-QSB for the period ending June 30, 2001, its
                  Form 10-QSB for the period ending September 30, 2001, its Form
                  10-QSB for the period ending December 31, 2001, its 10-QSB for
                  the  period  ending  March 31,  2001,  and any other  periodic
                  filings  made by WICK as filed  with the  SEC,  including  all
                  exhibits,  documents  and  attachments  thereto,  are true and
                  correct in all material respects and do not contain any untrue
                  statement of a material  fact or omit to state a material fact
                  required  to be  stated  therein  or  necessary  to  make  any
                  statement therein not materially misleading.

         (m)      WICK's common stock currently  trades on the  over-the-counter
                  market  bulletin  board  marker  commonly  referred  to as the
                  "OTCBB."  WICK is not aware of any fact or  circumstance  that
                  would  jeopardize  or  otherwise  impair the ability of WICK's
                  common stock to continue trading on the OTCBB.

         (n)      WICK has had the  opportunity  to  perform  all due  diligence
                  investigations  of WERKE,  STPF and STWP and their  respective
                  businesses as it has deemed  necessary or  appropriate  and to

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                  ask questions of the officers and directors of WERKE, STPF and
                  STWP  and  has  received  satisfactory  answers  to all of its
                  questions.   WICK  has  had  access  to  all   documents   and
                  information  about  WERKE,  STPF  and  STWP  and has  reviewed
                  sufficient  information  to allow them to evaluate  the merits
                  and risks of the transactions contemplated by this Agreement.

         (o)      WICK is  acquiring  the WERKE shares to be  transferred  to it
                  under this Agreement for investment and not with a view to the
                  sale or distribution thereof.

4.       Representations and Warranties of the Werke Shareholders.
         --------------------------------------------------------

         The Werke Shareholders, jointly and severally, represent and warrant as
follows:

         (a)      WERKE is a corporation duly organized,  validly existing,  and
                  in good standing under the laws of Delaware and is licensed or
                  qualified as a foreign  corporation in all places in which the
                  nature of its  business or the  character  or ownership of its
                  properties makes such licensing or qualification necessary.

         (b)      There are no agreements purporting to restrict the transfer of
                  the WERKE Shares, nor any voting agreements,  voting trusts or
                  other arrangements  restricting or affecting the voting of the
                  WERKE Shares.  The WERKE Shares held by the Werke Shareholders
                  are duly and validly  issued,  fully paid and  non-assessable,
                  and issued in full  compliance  with all federal,  state,  and
                  local laws,  rules and  regulations.  Other than as  described
                  herein, there are no subscription rights,  options,  warrants,
                  convertible   securities,   or  other  rights  (contingent  or
                  otherwise)   presently   outstanding,    for   the   purchase,
                  acquisition,  or sale of the  capital  stock of WERKE,  or any
                  securities  convertible into or exchangeable for capital stock
                  of WERKE or other securities of WERKE, from or by WERKE.

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         (c)      The Werke Shareholders have full right, power and authority to
                  sell, transfer and deliver the WERKE Shares, and upon delivery
                  of  the   certificates   therefor  as   contemplated  in  this
                  Agreement,  the Werke Shareholders will transfer to WICK valid
                  and marketable title to the WERKE Shares, including all voting
                  and other  rights to the  WERKE  Shares  free and clear of all
                  pledges,  liens, security interests,  adverse claims, options,
                  rights of any third party, or other encumbrances.  Each of the
                  Werke  Shareholders,  subject  to  adjustment  at or  prior to
                  Closing as set forth in  paragraph  1(c),  owns and holds that
                  the  number or  percentage  of WERKE  Shares  that are  listed
                  opposite their names on EXHIBIT A attached hereto.

         (d)      There is no litigation or proceeding  pending, or to any Werke
                  Shareholder's  knowledge,  threatened,  against or relating to
                  WERKE or to the WERKE Shares.

         (e)      WERKE  has  filed in  correct  form all tax  returns  of every
                  nature required to be filed by it in its home  jurisdiction or
                  otherwise  and has paid all taxes as shown on such returns and
                  all assessments, fees and charges received by it to the extent
                  that such taxes,  assessments,  fees and  charges  have become
                  due.  WERKE has also paid all taxes  which do not  require the
                  filing of returns and which are  required to be paid by it. To
                  the extent that tax  liabilities  have  accrued,  but have not
                  become  payable,   they  have  been  adequately  reflected  as
                  liabilities on the books of WERKE.

         (f)      The financial  statements that have been provided to WICK have
                  been prepared  consistent with Generally  Accepted  Accounting
                  Principles  ("GAAP") as recognized by the Peoples  Republic of
                  China  and  other  than  those  adjustments   necessitated  by
                  conversion  from  Chinese  GAAP  to  U.S.  GAAP  in  order  to
                  consolidate  such  financial  statements  with  the  financial
                  statements  of  WERKE  prior  to  Closing,  will  not  deviate
                  substantially upon such consolidation.

         (g)      The current  residence  address or principal place of business
                  (for any non-individual shareholder) of the Werke Shareholders
                  is as listed on EXHIBIT A attached hereto.

         (h)      The Werke Shareholders have had the opportunity to perform all
                  due diligence  investigations of WICK and its business as they
                  have deemed  necessary or appropriate  and to ask questions of
                  WICK's  officers and directors and have received  satisfactory
                  answers to all of their questions. The Werke Shareholders have
                  had access to all  documents  and  information  about WICK and
                  have reviewed sufficient information to allow them to evaluate
                  the merits and risks of the acquisition of the WICK Stock.

         (i)      The Werke  Shareholders are acquiring the WICK Stock for their
                  own account (and not for the account of others) for investment
                  and not with a view to the  distribution  therefor.  The Werke
                  Shareholders  will not sell or  otherwise  dispose of the WICK
                  Stock without  registration under the  Securities Act of 1933,

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                  as amended, or an exemption therefrom,  and the certificate or
                  certificates representing the WICK Stock will contain a legend
                  to the foregoing effect.

5.       Conduct Prior to the Closing.
         ----------------------------

         WICK and the Werke Shareholders  covenant that between the date of this
Agreement and the Closing as to each of them:

         (a)      Other than as contemplated  herein,  no change will be made in
                  the charter documents,  by-laws,  or other corporate documents
                  of WICK or WERKE.

         (b)      WICK and WERKE will each use its best  efforts to maintain and
                  preserve its business  organization,  employee  relationships,
                  and  goodwill  intact,  and will not enter  into any  material
                  commitment except in the ordinary course of business.

         (c)      None of the Werke  Shareholders will sell,  transfer,  assign,
                  hypothecate,  lien, or otherwise dispose or encumber the WERKE
                  Shares owned by them.

         (d)      WERKE and STPF will use their  best  efforts to  maintain  and
                  preserve the business organization, employee relationships and
                  goodwill intact of STWP, and will not allow STWP to enter into
                  any  material  commitment  except  in the  ordinary  course of
                  business.

         (e)      Other  than as  contemplated  herein,  WERKE and STPF will not
                  sell,  transfer,  assign,  hypothecate,   lien,  or  otherwise
                  dispose, encumber or dilute their interest in STWP.

         (f)      STPF will convert its interest in STWP into equity in WERKE so
                  that at Closing WERKE will own a 100% interest in STWP.

6.       Conditions to Obligations of the Werke Shareholders and STPF.
         ------------------------------------------------------------

The Werke  Shareholders  and STPF's  obligations  to complete  the  transactions
contemplated  herein are subject to fulfillment on or before the Closing of each
of the following conditions,  unless waived in writing by the Werke Shareholders
or STPF, as appropriate:

         (a)      The  representations  and  warranties of WICK set forth herein
                  will be true and  correct at the Closing as though made at and
                  as of  that  date,  except  as  affected  by the  transactions
                  contemplated hereby.

         (b)      WICK  will  have  performed  all  covenants  required  by this
                  Agreement to be performed by it on or before the Closing.

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         (c)      This  Agreement  will  have  been  approved  by the  Board  of
                  Directors of WICK.

         (d)      WICK will have  delivered to the Werke  Shareholders  and STPF
                  the documents set forth below in form and substance reasonably
                  satisfactory  to counsel for the  Shareholders,  to the effect
                  that:

                  (i)      WICK  is  a  corporation   duly  organized,   validly
                           existing, and in good standing;

                  (ii)     WICK's  authorized  capital  stock  is as  set  forth
                           herein;

                  (iii)    Certified  copies of the  resolutions of the board of
                           directors of WICK  authorizing  the execution of this
                           Agreement and the consummation hereof; and

                  (iv)     Any further  document as may be reasonably  requested
                           by counsel to the  Shareholders  and STPF in order to
                           substantiate any of the representations or warranties
                           of WICK set forth herein.

         (e)      There will have  occurred  no material  adverse  change in the
                  business, operations or prospects of WICK.

         (f)      WICK shall have prepared audited financial  statements for the
                  period ending June 30, 2002. Such financial  statements  shall
                  be  prepared  in  accordance  with US GAAP and  shall  present
                  fairly the financial condition of the Company for that period.

         (g)      WICK will have received  written consent (in a form acceptable
                  to  counsel   for  the   Shareholders   and  WERKE)  from  the
                  Shareholders  listed on Schedule 6(g) attached hereto agreeing
                  to cancel  back to WICK at or prior to  Closing  those  shares
                  listed opposite their names on Schedule 6(g).

         (h)      WERKE and STPF will have  received  approval  from the Chinese
                  Securities and Regulatory  Commission and any other  necessary
                  Chinese    governmental    approvals   of   the   transactions
                  contemplated by this Agreement.

7.       Conditions to Obligations of WICK.
         ---------------------------------

WICK's  obligation  to  complete  the  transaction  contemplated  herein will be
subject  to  fulfillment  on or  before  the  Closing  of each of the  following
conditions, unless waived in writing by the WICK, as appropriate:

         (a)      The  representations  and warranties of the Werke Shareholders
                  set forth  herein  will be true and  correct at the Closing as
                  though made at and as of that date, except as affected by  the

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                  transactions contemplated hereby.

         (b)      The  Werke  Shareholders  and STPF  will  have  performed  all
                  covenants  required by this  Agreement to be performed by them
                  on or before the Closing.

         (c)      The  Werke  Shareholders  will  have  delivered  to  WICK  the
                  documents  set forth  below in form and  substance  reasonably
                  satisfactory to counsel for WICK, to the effect that:

                  (i)      WERKE  is  a  corporation  duly  organized,   validly
                           existing, and in good standing;

                  (ii)     WERKE's  authorized  capital  stock  is  owned as set
                           forth herein and in EXHIIBIT A, subject to adjustment
                           as set forth in paragraph 1(c); and

                  (iii)    Any further  document as may be reasonably  requested
                           by counsel to the WICK in order to  substantiate  any
                           of the  representations  or  warranties  of the Werke
                           Shareholders or STPF set forth herein.

         (d)      There will have  occurred  no material  adverse  change in the
                  business, operations or prospects of WERKE, STPF or STWP.

8.       Additional Covenants.
         --------------------

         (a)      Between the date of this Agreement and the Closing,  the Werke
                  Shareholders,  with  respect  to WERKE,  STPF with  respect to
                  itself and WICK, with respect to itself,  will, and will cause
                  their  respective  representatives  to,  (i)  afford the other
                  parties and their  representatives  access to their personnel,
                  properties,  contracts, books and records, and other documents
                  and data,  as  reasonably  requested by the other party;  (ii)
                  furnish  the  other  parties  and their  representatives  with
                  copies of all such  contracts,  books and  records,  and other
                  existing  documents and data as they may reasonably request in
                  connection   with  the   transaction   contemplated   by  this
                  Agreement;  and  (iii)  furnish  the other  parties  and their
                  representatives with such additional financial, operating, and
                  other data and information as they may reasonably request. The
                  Werke  Shareholders will cause WERKE to and STPF and WICK will
                  provide  each  other,  with  complete  copies of all  material
                  contracts and other relevant  information on a timely basis in
                  order to keep the other parties  fully  informed of the status
                  of their respective business and operations.

         (b)      WICK  will  deliver  WICK's   corporate   books  and  records,
                  including  all records  relating to WICK's  audited  financial
                  statements, to the Shareholders at Closing.

         (c)      The  parties  agree  that they  will not  make,  and the Werke
                  Shareholders  will  not  permit  WERKE  to  make,  any  public

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                  announcements  relating to this Agreement or the  transactions
                  contemplated  herein without the prior written  consent of the
                  other  parties,  except as may be  required  upon the  written
                  advice of counsel to comply with applicable laws or regulatory
                  requirements  after  consulting  with the other parties hereto
                  and seeking their consent to such announcement.

         (d)      WICK, STPF and the Werke Shareholders will cooperate with each
                  other in the preparation of a Form 10KSB for the period ending
                  June 30, 2002 and Form 8-K to be filed with the SEC describing
                  the transaction  contemplated by this Agreement and such other
                  items as are required by the SEC rules and regulations.

         (e)      Each of the WICK officers and directors will deliver a written
                  statement  to WICK  resigning  from all officer  and  director
                  positions held by them at WICK.

9.       Termination.
         -----------

         This Agreement may be terminated  (1) by mutual consent in writing;  or
(2)  by  either  the   Shareholders  or  WICK  if  there  has  been  a  material
misrepresentation  or material  breach of any  warranty or covenant by any other
party that is not cured by August  30,  2002 or such later date as agreed by the
parties.

10.      Expenses.
         --------

         Whether or not the Closing is consummated, each of the parties will pay
all of his,  her,  or its own  legal  and  accounting  fees and  other  expenses
incurred in the  preparation of this Agreement and the  performance of the terms
and provisions of this Agreement.

11.      Survival of Representations and Warranties.
         ------------------------------------------

         The representations and warranties of the Shareholders and Wick set out
in this Agreement will survive Closing for a period twelve months.

12.      Waiver.
         ------

         Any  failure on the part of the  parties  hereto to comply  with any of
their obligations,  agreements, or conditions hereunder may be waived in writing
by the party to whom such compliance is owed.

13.      Brokers.
         -------

         Each party agrees to  indemnify  and hold  harmless  the other  parties

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against any fee,  loss,  or expense  arising out of claims by brokers or finders
employed or alleged to have been employed by the indemnifying party.

14.      Notices.
         -------

         All notices and other  communications  under this  Agreement must be in
writing and will be deemed to have been given if  delivered in person or sent by
prepaid  first-class  certified mail,  return receipt  requested,  or recognized
commercial courier service, as follows:

If to WICK, to:

709-B West Rusk #580
Rockwall, Texas 75087

If to the Shareholders, Werke or STPF, to:

8324 Delgany Avenue
Playa del Rey, California 90293

15.      General Provisions.
         ------------------

         (a)      This  Agreement  will be governed by and under the laws of the
                  State of Delaware,  USA without  giving effect to conflicts of
                  law  principles.  If any provision  hereof is found invalid or
                  unenforceable,  that part will be amended to achieve as nearly
                  as possible the same effect as the original  provision and the
                  remainder  of this  Agreement  will  remain in full  force and
                  effect.

         (b)      The original of this agreement (the  "Original") is drafted in
                  the English language. The Parties hereto acknowledge that they
                  may make copies of and  translations  of this  agreement  into
                  other languages, however, any disputes regarding the terms and
                  conditions of this  agreement  shall be resolved  according to
                  the  terms of the  Original.  The  parties  have  participated
                  jointly,  through  the  use of the  English  language,  in the
                  negotiation  and drafting of this  agreement.  In the event an
                  ambiguity or question of intent or interpretation arises, this
                  agreement  shall be  construed  as if  drafted  jointly by the
                  parties in the English  language and no  presumption or burden
                  of proof shall  arise  favoring  or  disfavoring  any party by
                  virtue of the authorship of any provisions of this Agreement.

         (c)      Any  dispute  arising  under  or in any  way  related  to this
                  Agreement  will be submitted to binding  arbitration  before a
                  single arbitrator by the American  Arbitration  Association in
                  accordance with the Association's commercial rules then in

                                       11

<PAGE>

                  effect.  The  arbitration  will be  conducted  in the State of
                  Maryland.  The  decision of the  arbitrator  will set forth in
                  reasonable  detail  the  basis  for the  decision  and will be
                  binding on the parties. The arbitration award may be confirmed
                  by any court of competent jurisdiction.

         (d)      In any adverse action, the parties will restrict themselves to
                  claims for compensatory damages and/or securities issued or to
                  be issued and no claims will be made by any party or affiliate
                  for lost profits, punitive or multiple damages.

         (e)      This  Agreement  constitutes  the entire  agreement  and final
                  understanding  of the  parties  with  respect  to the  subject
                  matter hereof and  supersedes  and terminates all prior and/or
                  contemporaneous  understandings and/or discussions between the
                  parties,  whether  written  or  verbal,  express  or  implied,
                  relating  in any  way  to  the  subject  matter  hereof.  This
                  agreement may not be altered,  amended,  modified or otherwise
                  changed  in any way except by a written  agreement,  signed by
                  both parties.

         (f)      This  Agreement  will inure to the  benefit of, and be binding
                  upon,  the parties  hereto and their  successors  and assigns;
                  provided,  however, that any assignment by either party of its
                  rights under this Agreement without the written consent of the
                  other party will be void.

         (g)      The parties  agree to take any further  actions and to execute
                  any further documents which may from time to time be necessary
                  or appropriate to carry out the purposes of this Agreement.

         (h)      The headings of the Sections,  paragraphs and subparagraphs of
                  this  Agreement  are solely for  convenience  of reference and
                  will not limit or  otherwise  affect the meaning of any of the
                  terms or provisions of this Agreement.  The references in this
                  Agreement  to  Sections,   unless  otherwise  indicated,   are
                  references to sections of this Agreement.

         (i)      This  Agreement may be executed in  counterparts,  each one of
                  which  will  constitute  an  original  and all of which  taken
                  together will  constitute one document.  This Agreement may be
                  executed by delivery of a signed  signature page by fax to the
                  other parties  hereto and such fax execution and delivery will
                  be valid in all respects.

                             SIGNATURE PAGE FOLLOWS

                                       12

<PAGE>

EXECUTED:

WICKLIFFE INTERNATIONAL CORPORATION

By:
    -------------------------

SHENYANG TIANWEI PHARMACEUTICAL FACTORY

By: /s/  Douglas C. MacLellan
         --------------------
         Douglas C. MacLellan

THE SHAREHOLDERS REPRESENTATIVE OF WERKE:

By: /s/  Douglas C. MacLellan
         --------------------
         Douglas C. MacLellan

                                       13

<PAGE>

<TABLE>

<CAPTION>

                                    EXHIBIT A
                                    ----------

                                       TO
                            SHARE EXCHANGE AGREEMENT

--------------------------------------- ----------------------------- --------------------------
<S>                                     <C>                           <C>

                                                                      Number of WICK Shares to
                                         % of Ownership                    be issued to
         Shareholder                     of WERKE Shares              Shareholder or designees
         -----------                     ---------------              ------------------------
--------------------------------------- ----------------------------- --------------------------

                                      77.27
Ms. Wang Wei Shi                                                      8,500,000

--------------------------------------- ----------------------------- --------------------------
                                        4.31                          475,000
Douglas MacLellan

--------------------------------------- ----------------------------- --------------------------
                                        1.81                          200,000
The MacLellan Group, Inc.               7.04                          775,000
Byrle Lerner                            5.00                          550,000
That Ngo Ph.D.                          4.54                          500,000
TriPoint Capital Advisors, LLC
--------------------------------------- ----------------------------- --------------------------

</TABLE>

                                       14

<PAGE>

                                  SCHEDULE 3(C)
                                       TO
                            SHARE EXCHANGE AGREEMENT

                    SUBSCRIPTION RIGHTS, OPTIONS AND WARRANTS
                    -----------------------------------------

                                      NONE

                                       15

<PAGE>

                                  SCHEDULE 3(F)
                                       TO
                            SHARE EXCHANGE AGREEMENT

                             ASSETS AND LIABILITIES
                             ----------------------

                                  $0.00 Assets
                $2500.00 Liabilities to be paid by Charles Smith

                                       16

<PAGE>

                                  SCHEDULE 6(G)
                                       TO
                            SHARE EXCHANGE AGREEMENT

                   SHAREHOLDERS CANCELING BACK SHARES TO WICK
                   ------------------------------------------

Wilkerson Consulting Inc.                   567,500 Shares to be canceled**

**  Remaining  balance  will be  432,500  of which  250,000  to be  reissued  to
Woodbridge  Management,  LTD,  157,500  to Charles  Smith and 25,000  will be re
issued to Andrew Smith.

                                       17

<PAGE>

EXHIBIT B
---------

                                       TO
                            SHARE EXCHANGE AGREEMENT

                AGREEMENT TO APPOINT SHAREHOLDERS REPRESENTATIVE

AGREEMENT  made this 15th day of June 2002,  by and between the owners of record
(the  "Shareholders")  of all of the  issued  and  outstanding  stock  of  Werke
Pharmaceuticals, Inc., a Delaware corporation ("WERKE") and Douglas C. MacLellan
(the "Shareholders Representative").

RECITALS

         A.   The Shareholders  currently own 2,500,000 shares of  WERKE  common
              stock (the "Werke Stock") and constitute  all the  shareholders of
              WERKE (the "Company");

         B.  The Shareholders wish to enter into a Share Exchange Agreement (the
             "Share   Exchange   Agreement")   with   Wickliffe    International
             Corporation  ("WICK"),  pursuant to which WICK will purchase all of
             the issued and  outstanding  shares of the  Company's  common stock
             from the  Shareholders  in exchange for  11,000,000  shares of WICK
             common shares.

          C. It  is  the  desire  of  the   Shareholders   to   provide   for  a
             representative  to  negotiate  and  enter  into the Share  Exchange
             Agreement on their behalf.

         NOW,  THEREFORE,  in  consideration  of the foregoing  premises and the
mutual covenants contained herein, the parties agree as follows:

1.       Appointment of Shareholders Representative.
         ------------------------------------------

The  parties  to this  Agreement  hereby  agree to the  appointment  of  Douglas
MacLellan (the "Shareholders  Representative")  as representative of the parties
to this  Agreement,  for the purpose of negotiating  and entering into the Share
Exchange Agreement on their behalf.

2.       Escrow and Disbursement of Shares by Representative.
         ---------------------------------------------------

(a)      At the Closing of the Share Exchange  Agreement,  WICK will provide  or
cause to be provided the Common Stock to the Shareholders Representative.

(b)      The Shareholders  Representative  shall,  within a reasonable period of
time  following  the  Closing,  forward  the shares of the  Common  Stock to the

                                       18

<PAGE>

Shareholders  on a pro rata basis,  in the same  proportion as the percentage of
their  ownership  interest in the STWP Stock, as set forth on Schedule A annexed
hereto. Any fractional shares that will result due to such pro rata distribution
will be rounded up to the next highest whole number.

(c)      Schedule A may be amended by the parties to this  Agreement at or prior
to the Closing in order to give  effect to the  conversion  by Shenyang  Tianwei
Pharmaceutical  Factory  ("STPF")  of its  interest in  Shenyang  Tainwei  Werke
Pharmaceutical  Co.,  Ltd.  ("STWP")  into equity in WERKE and to reflect  other
changes in the capital structure of WERKE which may be caused by investment into
WERKE by third parties prior to the Closing.  Any additional  shareholders which
are added to  Schedule  A, at or prior to Closing  will agree to be bound by the
terms of this Agreement,  however,  their failure to do so prior to Closing will
not effect the  validity  or  enforceability  of this  Agreement  as between the
present parties.

3.       Representations and Warranties of Shareholders.
         ----------------------------------------------

(a)     The Shareholders agree and  understand  that  they  are  appointing  the
Shareholders  Representative  to negotiate the  Shareholders  Agreement on their
behalf and that, as a result,  the Shareholders  Representative may bind them to
the terms of such agreement in accordance with his reasonable judgement.

(b)   The Shareholders agree and understand that the Shareholders Representative
may  agree to  representations,  warranties  and  covenants  on their  behalf in
connection with the Share Exchange for which they may be subject to liability or
damages in the future  should they breach such  representations,  warranties  or
covenants.

(c)     The Shareholders agree  and understand  that they  will have no right to
review the final Share Exchange Agreement prior to its execution on their behalf
by the Shareholders Representative and hereby waive all right to such review.

4.       Indemnification.
         ---------------

The   Shareholders  and  the  Company  shall,  to  the  fullest  extent  legally
permissible,  indemnify  the  Shareholders  Representative  against  any and all
liabilities and expenses  incurred in connection with the defense or disposition
of any  action,  suit,  or  other  proceeding  by  reason  of  the  Shareholders
Representative having served in his capacity with respect to this Agreement, the
Share  Exchange  Agreement and any  ancillary  agreements  thereto;  except with
respect to any  matter as to which the  Shareholders  Representative  shall have
been  adjudicated  in any  proceeding  not to have  acted  in good  faith in the
reasonable  belief  that his  action  was in the best  interest  of the  parties
hereto.

5.       General Provisions.
         ------------------

(a)     This  agreement shall be governed by and under  the laws of the State of

                                       19

<PAGE>

Delaware,  USA without  giving  effect to  conflicts of law  principles.  If any
provision hereof is found invalid or  unenforceable,  that part shall be amended
to achieve as nearly as possible the same effect as the original  provision  and
the remainder of this agreement shall remain in full force and effect.

(b) Any dispute  arising under or in any way related to this agreement  shall be
submitted to binding  arbitration  by the American  Arbitration  Association  in
accordance  with  the  Association's   commercial  rules  then  in  effect.  The
arbitration  shall be conducted in the State of Maryland.  The arbitration shall
be binding on the  parties and the  arbitration  award may be  confirmed  by any
court of competent jurisdiction.

(c) This agreement  constitutes the entire agreement and final  understanding of
the  parties  with  respect to the  subject  matter  hereof and  supersedes  and
terminates all prior and/or  contemporaneous  understandings  and/or discussions
between the parties, whether written or verbal, express or implied,  relating in
any way to the  subject  matter  hereof.  This  agreement  may  not be  altered,
amended, modified or otherwise changed in any way except by a written agreement,
signed by the parties.

(d) This  agreement  is entered into by the parties  hereto for their  exclusive
benefit.  The  Agreement is expressly  not intended for the benefit of any other
party,  including  but  not  limited  to,  any  creditor  of  the  Company,  the
Shareholders, WICK or any other person, and no third party shall have any rights
under this Agreement or otherwise.

(e) Any notice or other communication  pursuant hereto shall be given to a party
at its address set forth in Schedule A annexed hereto, by (i) personal delivery,
(ii) commercial overnight courier with written verification of receipt, or (iii)
registered  or  certified  mail.  If so mailed or  delivered,  a notice shall be
deemed  given on the  earlier  of the date of actual  receipt  or three (3) days
after the date of authorized delivery.

(f) This  agreement  may be  executed in  counterparts,  each one of which shall
constitute  an original and all of which taken  together  shall  constitute  one
document.

         IN WITNESS WHEREOF, the parties hereto have caused this agreement to be
duly executed as of the date first written above.

Shenyang Tianwei Pharmaceutical Factory

By:  /s/ Madam Wang Wei Shi
     ----------------------
         Madam Wang Wei Shi,
         Chairman

By:  /s/ Douglas C. MacLellan
     ------------------------
         Douglas C. MacLellan
         Vice Chairman

                                       20

<PAGE>

         Shareholders Representative

     /s/ Douglas C. MacLellan
     --------------------------------------
         Douglas C. MacLellan

THE SHAREHOLDERS:

     /s/ Douglas C. MacLellan
     --------------------------------------
     Name:  Douglas MacLellan

     /s/ Douglas C. MacLellan
     --------------------------------------
     Name:  The MacLellan Group, Inc.

     /s/ Byrle Lerner
     --------------------------------------
     Name:  Byrle Lerner

     /s/ That Ngo
     --------------------------------------
     Name:  That Ngo Ph.D.

     /s/ Mark Elenowitz
     --------------------------------------
     Name:  TriPoint Capital Advisors, Inc.<PAGE>

                                                                  Exhibit 10.32

                              EMPLOYMENT AGREEMENT

                  This EMPLOYMENT AGREEMENT is made as of January 8, 2001 (this
"Agreement"), between Net2Phone, Inc., a Delaware corporation (the "Company")
and Bruce Shoulson (the "Executive").

                              W I T N E S S E T H:
                              - - - - - - - - - -

                  WHEREAS, the Company wishes to assure itself of the services
of the Executive and the Executive and the Company are willing to enter into an
agreement to that end, upon the terms and conditions hereinafter set forth.

                  NOW, THEREFORE, in consideration of good and valuable
consideration the receipt and sufficiency of which are hereby acknowledged, the
parties hereby covenant and agree as follows:

                  1. Employment

                  The Company hereby agrees to employ the Executive, and the
Executive hereby agrees to accept employment with the Company, on and subject to
the terms and conditions of this Agreement.

                  2. Term

                  Unless earlier terminated pursuant to Section 5 hereof, the
period of this Agreement and the Executive's employment hereunder (the
"Agreement Term") shall commence as of the date hereof, (the "Effective Date"),
and shall expire on the third anniversary of the Effective Date; provided,
however that the Agreement Term shall be automatically extended for an
additional year on the third anniversary of the Effective Date and on each
anniversary of the Effective Date thereafter (each an "Extension Date"), unless
written notice of non-extension is provided by either party to the other party
at least 90 days prior to such anniversary.

                  3. Position, Authority and Responsibilities

         (a) The Executive shall serve as, and with the title, office and
authority of, General Counsel of the Company, and shall report directly to the
Office of the President.

         (b) The Executive shall have all of the powers, authority, duties and
responsibilities usually incident to the position and office of General Counsel
and such duties consistent with such position as may be assigned from time to
time by the Office of the President.

         (c) The Executive agrees to devote substantially all of his business
time, efforts and skills to the performance of his duties and responsibilities
under this Agreement; provided, however, that nothing in this Agreement shall
preclude the Executive from (i) serving on corporate, civic or charitable boards
or committees, (ii) delivering lectures, fulfilling charitible engagements or
teaching at educational institutions and/or (iii) managing his personal
investments, provided that in any such case that such activities do not
materially interfere with the Executive's performance of his duties and
responsibilities hereunder and do not violate the provisions of Section 10
hereof;

<PAGE>

         (d) Salary. The Executive shall perform his duties at the principal
offices of the Company located in Newark, New Jersey, but from time to time the
Executive may be required to travel to other locations in the proper conduct of
his responsibilities under this Agreement

                  4. Compensation

                  In consideration of the services rendered by the Executive
during the Agreement Term, the Company shall pay or provide the Executive the
amounts and benefits set forth below.

                  (a) Salary. The Company shall pay the Executive an initial
annual base salary (the "Base Salary") of at least $250,000. The Executive's
Base Salary shall be paid in arrears in substantially equal installments at
monthly or more frequent intervals, in accordance with the normal payroll
practices of the Company. The Executive's Base Salary shall be reviewed at least
annually by the Office of the President for consideration of appropriate merit
increases and, once established, the Base Salary shall not be decreased during
the Agreement Term.

                  (b) Annual Bonus. The Company shall provide the Executive with
an opportunity to earn an annual bonus (the "Annual Bonus") equal to at least
25% of the Base Salary for each fiscal year during the Agreement Term beginning
with the 2001 fiscal year pursuant to a bonus plan to be established by the
Company. The Annual Bonus, if any, shall be paid to the Executive in the first
regular pay period of the Company that occurs after the first fiscal quarter of
the year that immediately follows the year in which the Annual Bonus was earned,
notwithstanding any expiration of this Agreement as of the last day of such
year.

                  (c) Equity Incentives.

                  (i) Except as provided in this Agreement, the treatment of
         options to purchase shares of the Common Stock of the Company ("Common
         Stock") granted to the Executive prior to the Effective Date under the
         Company's stock incentive plans shall be governed by the applicable
         stock option agreements. On the Effective Date, the Executive shall be
         granted an option (the "Option") to purchase 150,000 shares of the
         Company's common stock, par value $.01 per share, pursuant to the Stock
         Option Agreement attached hereto as Exhibit A. The Option shall be
         granted with an exercise price equal to the current fair market value
         on the Effective Date. The Executive shall be eligible, from time to
         time, to receive awards of stock options or other equity incentives, as
         determined by the Board. Except as otherwise provided herein, the
         Executive's right to exercise the Option shall become vested as
         follows, if as of each such date set forth below the Executive is
         employed by the Company or any of its subsidiaries:

                                       2

<PAGE>

                           (A) 33-1/3% on the first anniversary of the Effective
                  Date, and

                           (B) the remaining portion shall vest on a pro rata
                  basis on the last day of each month for the twenty-four months
                  following the first anniversary of the Effective Date.

                           (C) At the end of the initial Agreement Term or upon
                  the sooner of the termination of this agreement by reason of
                  (i) death or disability of Executive, (ii) the termination of
                  this Agreement by the Company "other than for Cause" or (iii)
                  the termination of this Agreement by reason of the Executive's
                  "Resignation for Good Reason", the Company shall promptly pay
                  to the Executive the excess of $1,600,000 ("Guaranteed Value")
                  over the sum of (x) fair market value of the Common Stock
                  subject to unexercised Options (less the aggregate exercise
                  price of such unexercised Options) plus (y) the fair market
                  value of the Common Stock previously acquired by the Executive
                  upon the exercise of his Options measured as of the date of
                  exercise (less the aggregate exercise price of such exercised
                  Options).

                  The Guaranteed Value shall be reduced by the total Opportunity
                  Value of the Common Stock represented by the unexercised
                  vested Options on the respective Valuation Dates. Opportunity
                  Value shall mean the average closing sales price of the Common
                  Stock as quoted on NASDAQ (or on the New York of American
                  Stock Exchange if the Common Stock shall be listed on one of
                  such Exchanges) for the 20 trading days immediately preceding
                  a Valuation Date, less the exercise price for the Executive's
                  Options to purchase such Common Stock. For purposes of the
                  Agreement, the Valuation dates under this Agreement shall be
                  January 7, 2002, January 7, 2003 and January 7, 2004, and the
                  number of shares of Common Stock to be valued on a Valuation
                  Date shall be equal only to the number of shares of Common
                  Stock subject to the unexercised Options which became vested
                  during the 12 month period immediately prior to a Valuation
                  Date. There shall be no reduction in Guaranteed Value to the
                  extent Executive would have been legally prevented from
                  selling, during the 20 trading days immediately preceding a
                  Valuation Date, shares of Common Stock acquired upon the
                  exercise of Options which became vested during the immediately
                  preceding 12 months.

                                       3

<PAGE>

                  (d) Employee Benefits. The Executive shall be entitled to
participate in all employee benefit plans, programs, practices or other
arrangements of the Company in which other senior executives of the Company are
generally eligible to participate from time to time, including, without
limitation, any qualified or non-qualified pension, profit sharing and savings
plans, any death benefit and disability benefit plans, and any medical, dental,
health and welfare plans, except to the extent that a separate arrangement is
implemented for the Executive on terms no less favorable than as provided to the
other senior executives agreed to by the Executive that is intended to replace
any such general arrangement. Without limiting the generality of the foregoing,
(i) the Company shall continue to provide the Executive with life insurance
coverage with a death benefit that is not less than the amount as is in effect
as of the Effective Date and (ii) the Company shall provide the executive with
disability insurance coverage consistent with the disability insurance coverage
provided to senior executives of other companies in the same industry as the
Company.

                 (e) Fringe Benefits and Perquisites. The Executive shall be
entitled to all fringe benefits and perquisites that are generally made
available to senior executives of the Company from time to time on the same
basis as is made available to such other executives. Without limiting the
generality of the foregoing, the Company shall provide the Executive with the
following:

                  (ii) executive offices and support staff appropriate to the
Executive's position;

                  (iii) prompt reimbursement of all reasonable travel and other
business expenses and disbursements incurred by the Executive in the performance
of his duties under this Agreement in accordance with the Company's normal
practices and procedures, including professional association dues upon proper
accounting therefor;

                  (iv) paid vacation during each calendar year, to be taken in
an amount equal to and in accordance with the Company's vacation policy for
senior executives;

                  (v) an automobile allowance consistent with the automobile
allowance policy for the Company's senior executive officers; and

                  (vi) such other fringe benefits as the Executive and the Board
may mutually agree from time to time.

                  5. Termination of Employment

                  The Agreement Term and the Executive's employment hereunder
shall be terminated upon the happening of any of the following events:

                  (a) Termination for Cause. The Company may terminate the
Agreement Term and the Executive's employment hereunder for Cause. For purposes
of this Agreement, "Cause" shall mean:

                  (i) conviction of the Executive, by a court of competent
jurisdiction, of, or Executive's plea of guilty or nolo contendere to, a felony
under the laws of the United States or any state thereof;

                                        4

<PAGE>

                  (ii) misappropriation by the Executive of the Company's finds;
or

                  (iii) the commission by the Executive of an act of proven
fraud with respect to the Company.

         Notwithstanding the foregoing, in no event shall the Company be
considered to have terminated the Executive's employment for "Cause" unless and
until (i) the Executive receives written notice from the Office of the
President, the CEO or the Board identifying in reasonable detail the acts or
omissions constituting such "Cause" and the provision of this Agreement relied
upon by the Company for such termination and (ii) such acts or omissions are
not cured by the Executive within 30 days of the Executive's receipt of such
notice.

                  (b) Termination other than for Cause. The Office of the
President, the Board or the CEO shall have the right to terminate the Agreement
Term and the Executive's employment hereunder for any reason at any time,
including for any reason that does not constitute Cause, subject to the
consequences of such termination as set forth in this Agreement.

                  (c) Resignation for Good Reason. The Executive may voluntarily
terminate the Agreement Term and his employment hereunder for Good Reason. For
purposes of this Agreement, "Good Reason" shall mean:

                  (i) any action by the Company that results in a diminution of
the Executive's authority or responsibilities;

                  (ii) any adverse modification of the Executive's positions,
titles or reporting reLationships;

                  (iii) any failure by the Company to comply with the
compensation and benefits provisions of Section 4 hereof or any other material
breach of this Agreement by the Company;

                  (iv) the relocation, without the Executive's written consent,
of the Executive's principal office from Newark, New Jersey; or

                  (v) any failure by the Company to obtain an assumption of this
Agreement by a successor corporation as required under Section 11(a) hereof.

         In no event shall the Executive be considered to have terminated his
employment for "Good Reason" unless and until (i) the Company receives written
notice from the Executive identifying in reasonable detail the acts or omissions
constituting such "Good Reason" and the provision of this Agreement relied upon
by the Executive for such termination, and (ii) such acts or omissions are not
cured by the Company within 30 days of the Company's receipt of such notice.

                  (d) Resignation other than for Good Reason. The Executive may
voluntarily terminate the Agreement Term and his employment hereunder at any
time for any reason, including for any reason that does not constitute Good
Reason by giving the Company 30-days advance written notice of such termination.

                                       5

<PAGE>

                 (e) Disability. The Company may terminate the Agreement Term
and the Executive's employment hereunder upon the Executive's Disability. For
purposes of this Agreement, "Disability" shall mean the inability of the
Executive to perform his duties to the Company on account of physical or mental
illness for a period of six consecutive full months, or for a period of nine
full months during any 18-month period. The Executive's employment shall
terminate in such case on the last day of the applicable period following
written notice by the Company of the election to terminate the Executive's
employment due to the Executive's Disability. Notwithstanding the foregoing, in
no event shall the Executive be terminated by reason of Disability unless the
Executive is eligible to begin receiving long-term disability benefits from a
Company-sponsored long-term disability plan.

                  (f) Death. The Agreement Term and the Executive's employment
hereunder shall terminate upon his death.

                  6. Compensation Upon Termination of Employment

                  Notwithstanding any provision of this Agreement to the
contrary, in the event the Agreement Term and the Executive's employment by the
Company is terminated, the Executive shall be entitled to the compensation and
severance benefits set forth below:

                  (a) Resignation for Good Reason; Termination without Cause. In
the event the Agreement Term and the Executive's employment hereunder is
terminated by the Executive for Good Reason or by the Company for any reason
other than for Cause, Disability or death, the Company shall pay to the
Executive and provide him with the following:

                  (i) Severance Payment. The Company shall continue to pay the
Executive, his then current Base Salary, in accordance with the Company's
general payroll practice, for the greater of (a) the two years following such
termination or (b) the remainder of the then current term of this Agreement. In
addition, during such period the Executive shall be entitled to receive annual
payments, at the time and in a manner consistent with the Company's payment of
annual bonuses, of an amount equal to the Executive's then-current Annual Bonus
percentage under Section 4(b) hereof, multiplied by his then-current Base Salary
if and only if such bonus would have been earned under the plan in place
immediately prior to the Executive's termination.

                  (ii) Accrued Rights. The Company shall pay the Executive a
lump-sum cash amount, within 10 days of the date of termination, equal to the
sum of(A) his earned but unpaid Base Salary through the date of termination, (B)
any earned but unpaid Annual Bonus for any completed calendar year, and (C) any
unreimbursed business expenses or other amounts due to the Executive from the
Company as of the date of termination. In addition, the Company shall provide to
the Executive all payments, rights and benefits due as of the date of
termination under the terms of the Company's compensation or benefit plans,
programs or awards (together with the lump-sum payment, the "Accrued Rights").

                                       6

<PAGE>

                  (iii) Bonus Rights. The Company shall pay the Executive,
within 10 days of the date of termination, a lump-sum cash amount equal to a pro
rata portion of the Annual Bonus for any partial calendar year of service
through the date of termination (the "Bonus Rights").

                  (iv) Continued Benefits. Subject to Section 8 hereof, for a
two-year period following the date of termination, the Company shall continue to
provide the Executive and his eligible dependents, at its sole cost, with the
medical, dental, disability and life insurance coverages ("Welfare Benefits")
that were provided to the Executive immediately prior to termination of
employment.

                  (v) Stock Options. Notwithstanding the provisions of any stock
incentive plan or award agreement between the Company and the Executive to the
contrary, (i) 100% of the options to purchase Common Stock which are not fully
vested and exercisable as of the date of termination shall become fully vested
and exercisable and (ii) the period during which options shall remain
exercisable shall be extended until the second anniversary of the date of
termination. All such award agreements shall be amended by the Company and the
Executive to reflect the foregoing provision.

                  (vi) Life and Disability Insurance. The Company shall fully
fund the life insurance and disability policies described in Section 4(d)
hereof.

                  (vii) Car Allowance. Until the second anniversary of the date
of termination, the Company shall continue to provide the Executive with the
automobile allowance described in Section 4(e)(v) hereof.

                  (b) Resignation without Good Reason; Termination for Cause. In
the event the Executive voluntarily terminates the Agreement Term and his
employment hereunder other than for Good Reason, or in the event the Agreement
Term and the Executive's employment hereunder is terminated by the Company for
Cause, the Company shall pay and provide to the Executive all Accrued Rights and
Bonus Rights and the Executive shall retain any rights that he has pursuant to
any stock option agreement with the Company in accordance with the terms
thereof.

                  (c) Disability; Death. In the event the Agreement Term and the
Executive's employment hereunder is terminated by reason of the Executive's
Disability or death, the Company shall pay the Executive (or his legal
representative) and provide him with the following:

                  (i) Severance Payment. The Company shall continue to pay the
Executive, his then current Base Salary, in accordance with the Company's
general payroll practices, for the one year period following the date of such
termination. In addition, during such one year period the Executive shall be
entitled to receive one payment, at the time and in a manner consistent with the
Company's payment of annual bonuses, of an amount equal to the Executive's
then-current Annual Bonus percentage under Section 4(b) hereof, multiplied by
his then current Base Salary if and only if such bonus would have been earned
under the plan in place immediately prior to the Executive's termination.

                                       7

<PAGE>

                  (ii) Accrued Rights. The Company shall pay the Executive a
lump-sum cash amount, within 10 days of the date of termination, equal to the
Accrued Rights.

                  (iii) Bonus Rights. The Company shall pay the Executive,
within 10 days of the date of termination, a lump-sum cash amount equal to the
Bonus Rights.

                  (iv) Continued Benefits. Subject to Section 9 hereof, for a
one-year period following the date of termination, the Company shall continue to
provide the Executive and his eligible dependents, at its sole cost, with the
Welfare Benefits that were provided to the Executive immediately prior to
termination of employment.

                  (v) Stock Options. Notwithstanding the provisions of any stock
incentive plan or award agreement between the Company and the Executive to the
contrary, (A) all options to purchase Common Stock which are not fully vested
and exercisable as of the date of termination shall become fully vested and
exercisable and (B) the period during which such options shall be exercisable
shall be extended until the first anniversary of the date of termination. All
such award agreements shall be amended by the Company and the Executive to
reflect the foregoing provision.

                  7. Indemnification

                  The Company agrees to provide to the Executive all rights of
indemnification and all director's and officer's insurance coverage to the
fullest extent permitted by law and by its Certificate of Incorporation and
By-laws.

                  8. No Mitigation or Offset

                  The Executive shall not be required to seek other employment
or to reduce any severance benefit payable to him under Section 6 hereof, and no
such severance benefit shall be reduced on account of any compensation received
by the Executive from other employment; provided, however, to the extent that
the Executive becomes eligible to receive welfare benefits pursuant to employee
benefit plans of a new employer that are comparable to the Welfare Benefits that
the Company is obligated to provide to the Executive pursuant to Section
6(a)(iv), the Company's obligation to provide such Welfare Benefits shall cease.
The Company's obligations to the Executive under this Agreement, including,
without limitation, any obligation to provide severance benefits, shall not be
subject to set-off or counterclaim in respect of any debts or liabilities of the
Executive to the Company.

                  9. Tax Withholding; Method of Payment

                  All compensation payable pursuant to this Agreement shall be
subject to reduction by all applicable withholding, social security and other
federal, state and local taxes and deductions for income, employment, excise and
other taxes. Any lump-sum payments provided for in Section 6 hereof shall be
made in a cash payment, net of any required tax withholding, no later than 10
business days following the Executive's date of termination. Any payment
required to be made to the Executive under this Agreement that is not made in a
timely manner shall bear interest at an interest rate equal to 120% of the
monthly compounded applicable federal rate as in effect under Section 1274(d) of
the Code.

                                       8

<PAGE>

                  10. Restrictive Covenants

                  (a) Confidential Information. During the Agreement Term and at
all times thereafter, the Executive agrees that he will not divulge to anyone
(other than the Company or any persons employed or designated by the Company)
any knowledge or information of a confidential or proprietary nature relating to
the business of the Company or any of its subsidiaries or affiliates, including,
without limitation, all trade secrets (unless readily ascertainable from public
or published information or trade sources) and confidential commercial
information, and the Executive further agrees not to disclose, publish or make
use of any such knowledge or information without the consent of the Company.

                  (b) Noncompetition. The Executive acknowledges that (i) the
Company is currently engaged in the business of providing high quality, low-cost
telephone calls over the Internet ("Internet Telephony"), (ii) his work for the
company will give him access to trade secrets of and confidential information
concerning the Company, and (iii) the agreements and covenants contained in this
Agreement are essential to protect the business and goodwill of the Company.
Accordingly, the Executive covenants and agrees that during the Restricted
Period (defined below), the Executive shall not, without the prior written
consent of the Company, (1) engage or participate in the business of developing,
managing or operating any Internet Telephony business (a "Competitive Business")
on his own behalf or on behalf of any person or entity, and the Executive shall
not acquire a financial interest in any Competitive Business (except for
publicly traded equity interests that do not exceed five percent (5%) of such
class of equity) or (2) directly or indirectly solicit or encourage any employee
of the Company or any of its affiliates to leave the employment of the Company
or any of its affiliates. For purposes hereof, the "Restricted Period" shall be
the Agreement Term as may be terminated pursuant to Section 6 hereof) and,
except in the event of a termination described in Section 6(a) hereof, the
12-month period following any termination of the Executive's employment
hereunder.

                  (c) Enforcement. The Executive acknowledges and agrees that
the Company will have no adequate remedy at law, and could be irreparably
harmed, if the Executive breaches or threatens to breach any of the provisions
of Section 10 of this Agreement The Executive agrees that the Company shall be
entitled to equitable and/or injunctive relief to prevent any breach or
threatened breach of this Section 10, and to specific performance of each of the
terms of this Section in addition to any other legal or equitable remedies that
the Company may have. The Executive further agrees that he shall not, in any
equity proceeding relating to the enforcement of the terms of this Section 10,
raise the defense that the Company has an adequate remedy at law.

                                       9

<PAGE>

                  11. Successors and Assigns

                  (a) This Agreement shall be binding upon and shall inure to
the benefit of the Company, its successors and any person or other entity that
succeeds to all or substantially all of the business, assets or property of the
Company. To the extent not otherwise provided by application of law, the Company
will require any successor (whether direct or indirect, by purchase, merger,
consolidation, transfer or otherwise) to all or substantially all of the
business, assets or property of the Company, to expressly assume and agree to
perform the obligations of the Company under this Agreement in the same manner
and to the same extent that the Company is required to perform hereunder. As
used in this Agreement, the "Company" shall mean the Company as hereinbefore
defined and any successor to its business, assets or property as aforesaid which
executes and delivers an agreement provided for in this Section 11(a) or which
otherwise becomes bound by all the terms and provisions of this Agreement by
operation of law. Except as provided by the foregoing provisions of this Section
11(a), this Agreement shall not be assignable by the Company without the prior
written consent of the Executive. In the event that this Agreement is assigned
to any person or entity as may be permitted hereunder, the Company shall be
secondarily liable in the event that any such person or entity shall fail to
satisfy its obligations under Section 4, 6 or 7 hereof.

                  (b) This Agreement and all rights of the Executive hereunder
shall inure to the benefit of and be enforceable by the Executive's personal or
legal representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees. If the Executive should die while any
amounts are due and payable to the Executive hereunder, or prior to the payment
contemplated by Section 4(c)(i)(c) all such amounts, unless otherwise provided
herein, shall be paid to the Executive's designated beneficiary or, if there is
no such designated beneficiary, to the legal representatives of the Executive's
estate. This Agreement is personal in nature and the obligations of the
Executive hereunder are not be assignable to any person.

                  12. Entire Agreement/Amendment

                  This Agreement contains the entire understanding of the
parties with respect to the subject matter hereof and, except as specifically
provided herein, cancels and supersedes any and all other agreements between the
parties with respect to the subject matter hereof. Any amendment or modification
of this Agreement shall not be binding unless in writing and signed by the
parties hereto.

                  13. Severability/No Waiver

                  (a) In the event that any provision of this Agreement is
determined to be invalid or unenforceable, the remaining terms and conditions of
this Agreement shall be unaffected and shall remain in full force and effect,
and any such determination of invalidity or uneriforceability shall not affect
the validity or enforceability of any other provision of this Agreement.

                                       10

<PAGE>

                  (b) The failure of a party to insist upon strict adherence to
any term of this Agreement on any occasion shall not be considered a waiver of
such party's rights or deprive such party of the right thereafter to insist upon
strict adherence to that term or any other term of this Agreement.

                  14. Notices

                  All notices which may be necessary or proper for either the
Company or the Executive to give to the other shall be in writing and shall be
delivered by hand or sent by registered or certified mail, return receipt
requested, or by air courier, to the Executive at:

                                 Bruce Shoulson
                                 [Address]

and shall be sent in the manner described above to the Office of the President
of the Company at the Company's principal executives offices at:

                                 Net2Phone, Inc.
                                 520 Broad Street
                                 Newark, New Jersey 07102

and shall be deemed given when dispatched, provided that any notice required
under Section 5 hereof or notice given pursuant to Section 2 hereof shall be
deemed given only when received. Any party may by like notice to the other party
change the address at which he or they are to receive notices hereunder.

                  15. Governing Law

                  This Agreement shall be governed by and enforceable in
accordance with the laws of the State of New Jersey, without giving effect to
the principles of conflict of laws thereof.

                  16. Arbitration

                  Except for any action brought under Section 10 which may be
brought by the Company directly in any court of competent jurisdiction, any
controversy or claim arising out of, or related to, this Agreement, or the
breach thereof, shall be settled by binding arbitration in the City of Newark,
New Jersey in accordance with the rules then obtaining of the American
Arbitration Association, and the arbitrator's decision shall be binding and
final, and judgment upon the award rendered may be entered in any court having
jurisdiction thereof.

                                       11

<PAGE>

                  17. Legal Fees and Expenses

                  The Company shall pay the legal fees and expenses incurred by
the Executive in connection with, the negotiation of this Agreement. To provide
the Executive with reasonable assurance that the purposes of this Agreement will
not be frustrated by the cost of its enforcement, the Company shall pay and be
solely responsible for any attorneys' fees and expenses and any court or
arbitration costs incurred by the Executive as a result of a claim that the
Company has breached or otherwise failed to perform this Agreement or any
provision hereof regardless of which party, if any, prevails in the contest.

                  18. Counterparts

                  This Agreement may be signed in counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and
hereto were upon the same instrument.

                                       12

<PAGE>

                  IN WITNESS WHEREOF, the Company and the Executive have
executed this Agreement as of the date first written above.

                                          EXECUTIVE

                                          /s/ Bruce Shoulson
                                          -------------------------------------
                                          Bruce Shoulson

                                          NET2PHONE, INC.

                                          By: /s/ Stephen M. Greenberg
                                              ---------------------------------
                                              Name:  Stephen M. Greenberg
                                              Title: Office of the President

                                       13

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