Document:

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                                                                   EXHIBIT 10.29

EMPLOYMENT AGREEMENT dated as of April 26, 2001, between PATRIOT SCIENTIFIC
CORPORATION, a Delaware Corporation (the "Company"), and David H. Pohl (the
"Executive").

WITNESSETH:

1. Term of Employment.

          (a) The Company hereby agrees to employ the Executive and the
Executive hereby agrees to accept employment as Vice President of Administration
of the Company for a two year period commencing April 26, 2001, or for such
shorter period as may be mutually agreed by the Company and the Executive (the
"Employment Period"), subject to the terms and conditions of this Agreement. In
his capacity as Vice President of Administration of the Company, Executive will
be responsible for the general duties associated with his title including, but
not limited to managing legal affairs, investor relations, human resources,
office services and/or such other management duties on behalf of the Company as
may be assigned to him from time to time by the President and Chief Executive
Officer ("CEO") of the Company.

          (b) The Executive agrees that, during the Employment Period, he will
serve the Company faithfully and to the best of his abilities, devoting
substantially all his time, energy and skill to the activities of the Company
and the promotion of its interests. It is expressly understood that the
Executive may devote a reasonable amount of time to such charitable, civic and
personal affairs as shall not interfere with the obligations set forth in the
preceding sentence. The Executive agrees not to work for or participate in any
business that competes in any manner with the business of the Company during his
employment with the Company, including after hours, on weekends, or during
vacation time, even if only organizational assistance or limited consultation is
involved.

2. Compensation and Benefit Plans

          (a) The Executive shall receive a base salary during the Employment
Period which shall be payable in installments at such times as other employees
are paid but in any case at least monthly as follows: (1) During the first year
of the Employment Period ("Year One"), the Executive shall receive a gross base
salary of not less than ten thousand dollars ($10,000.00) per month; (2) During
the second year of the Employment Period ("Year Two"), the Executive shall
receive a base salary of not less than the base salary received in Year One. The
base salary received in any year shall be subject to other upward adjustments as
shall be recommended by the President and CEO of the Company to the Board of
Directors of the Company (the "Board") and as shall be approved by the Board and
Compensation Committee.

          (b) The Executive is entitled, at the discretion of the Board of
Directors of the Company, to an Annual Incentive Bonus up to 50% of the total
yearly base compensation for the applicable year (the "Annual Incentive Bonus").
The Annual Incentive Bonus payment will be based upon mutually agreed upon
objectives and levels of performance, if any, and shall otherwise be at the
discretion of the Board of Directors.

          (c) The Executive shall be eligible to participate in all employee
benefit programs, if any, maintained by the Company, including, but not limited
to, group life insurance, medical, dental, retirement and pension plans, any
deferred compensation profit sharing plans, 401(k) savings plan, and other such
fringe benefits as are or may be available from time to time to senior
executives of the Company, including without limitation a car allowance of $400
per month. During the Employment Period, the Executive is entitled to 4 weeks
vacation per annum.

          (d) The Company will pay or reimburse the Executive during the
Employment Period for all expenses normally reimbursed by the Company and
reasonably incurred by the Executive in furtherance of his duties hereunder and
authorized by the Company, including but not limited to, expenses of
entertainment, travel, meals, hotel accommodations and the like upon the
submission of the Executive of vouchers or an itemized list thereof and as may
be required in order to permit such payments as proper deductions for the
Company under the Internal Revenue Code of 1986 and the rules and regulations
adopted pursuant thereto now or hereafter in effect.

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          (a) The Executive will be granted an option to purchase three hundred
thousand (300,000) shares of the Company's common stock at the average of the
closing bid and ask price of the Company's stock on April 26, 2001. This option
will be granted partially under the Company's 1996 Stock Option Plan and
partially under the Company's 2001 Stock Option Plan, which is subject to
approval by the shareholders. The Company and the Executive will sign a Stock
Option Agreement memorializing the grant as of April 26, 2001 in the form of the
attached Exhibit A upon approval by the Stock Compensation Committee.

          (b) The Stock Options will vest according to the following schedule:
(1) 90,000 shares will vest immediately at the time of grant, (2) 110,000 shares
will vest on the earlier of the first year anniversary of the grant of the stock
option or when the Company has accumulated $2 million in gross revenue from the
period starting on April 26, 2001, and (3) 100,000 shares will vest on the
earlier of the second year anniversary of the grant of the stock option or when
the Company has accumulated $5 million in gross revenue from the period starting
on April 26, 2001. All stock options held by employee will vest immediately
prior to a Change in Control of the Company.

4. Termination of Employment.

          (a) The employment of the Executive hereunder shall automatically
terminate if the Executive shall die during the Term of Employment. The
employment of the Executive can be terminated for cause by the Company at its
option only for the following:

          (1) the conviction of the Executive under state or federal law of a
felony or other crime, or the equivalent under foreign law; unless in any such
case Executive performed such act in good faith and in a manner reasonably
believed to be in or not opposed to the best interests of the Company;

          (2) the material breach by Executive of any provision of the Agreement
which has not been cured pursuant to the provisions of Section 5 hereof; or

          (3) a determination or request by an appropriate regulatory authority
that the Executive be removed or disqualified from acting as an officer of the
Company.

          (b) If the Executive's employment is terminated for other than cause
by the Company, then the Executive is entitled to severance payments equal to
the lesser of (i) four (4) months of the current base salary payable in a lump
sum payment on the last day of the thirty (30) day notice period or (2) the
remaining current base salary for the term of this agreement payable in a lump
sum payment on the last day of the thirty (30) day notice period. In such event,
the Executive shall have the right to continue coverage, at his expense, under
group life insurance, medical, and dental healthcare plans of the Company by
paying the applicable group premium(s) as if the Executive were still employed;
such right, if exercised within thirty days after termination of employment,
shall continue until the Executive reaches the age of 65, at which time it shall
terminate.

          (c) The Executive shall have the right at his sole option to terminate
his employment at any time upon ninety (90) days written notice or for such
other notice period to be determined by the President and CEO in his sole
discretion.

          (d) If within twelve (12) months of a Change in Control, as that term
is defined herein, Executive's employment is terminated for other than cause or
Executive refused to accept or voluntarily resigns from a position other than a
Qualified Position, as that term is defined herein, Executive shall receive
severance compensation equal to twelve (12) months of his then current base
salary. A "Change in Control" means the acquisition, directly or indirectly of
more than 40% of the outstanding shares of any class of voting securities of the
Company by one person or one entity that is not an existing shareholder as of
the date of this Agreement, or a merger, consolidation or sale of all or
substantially all of the assets of the Company, such that the individuals
constituting the Board of the Company immediately prior to such period shall
cease to constitute a majority of the Board, unless the election of each
director who was not a director prior thereto was approved by vote of at least
two-thirds of the directors then in office who were

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directors prior to such period. Notwithstanding the foregoing, an acquisition of
the requisite percentage of voting securities in connection with a public
offering of securities by the Company for the primary purpose of providing
capital resources to the Company shall not be considered a "Change in Control"
for purposes of this Section 4(d). "Qualified Position" is an executive officer
position with the entity surviving the Change in Control with substantially the
same responsibilities as those held by the Executive on the date of the Change
in Control. Also, notwithstanding the foregoing, if the Company determines that
the amounts payable to Executive under this employment agreement, when
considered together within the other amounts payable to Executive as a result of
a Change in Control, cause such payments to be treated as excess parachute
payments within the meaning of Section 280G of the Internal Revenue Code, the
Company shall reduce the amount payable to Executive under this Section 4(d) to
an amount that will not subject Executive to the imposition of tax under Section
4999 of the Internal Revenue Code; provided, however, that this provision shall
apply only to payments to be made under this employment agreement and shall not
cause the reduction of any other payments to be made to Executive by the
Company.

5. Notice of Breach. The Company and the Executive agree that, prior to the
termination of the Employment Period by reason of any breach of any provision of
the Agreement, the injured party will give the party in breach written notice,
specifying such breach and permitting the party in breach to cure such breach
within a period of thirty (30) days after receipt of such notice, except a
breach by Executive of provisions of Section 7 of this Agreement shall not have
a cure period.

6. Indemnification.

          (a) If, after the date of the commencement of the Employment Period,
the Executive is made a party or is threatened to be made a party to any action,
suit or proceeding, whether civil, criminal, administrative or investigative (a
"Proceeding"), by reason of the fact that he is or was a director or officer of
the Company or is or was serving at the request of the Company as a director,
officer, member, employee or agent of another corporation or partnership, joint
venture, trust or other enterprise, including service with respect to employee
benefit plans, whether or not the basis of such Proceeding is an alleged act or
failure to act in an official capacity as a director, officer, member, employee
or agent, he shall be indemnified and held harmless by the Company to the
fullest extent authorized by Delaware law, as the same exists or may hereafter
be amended, against all expense, liability and loss (including, without
limitation, attorney's fees, judgments, fines and amounts paid or to be paid in
settlement) reasonably incurred or suffered by the Executive in connection
herewith, including , without limitation, payment of expenses incurred in
defending a Proceeding prior to the final disposition of such Proceeding
(subject to receipt of an undertaking by the Executive to repay such amount if
it shall ultimately be determined that the Executive is not entitled to be
indemnified by the Company under Delaware law), and such indemnification shall
continue as to the Executive even if he has ceased to be a director, officer,
member, employee or agent of the Company or other enterprise and shall inure to
the benefit of his heirs, executors and administrators.

          (b) The right of indemnification and the payment of expenses incurred
in defending a Proceeding in advance of its final disposition conferring in this
Section 6 shall not be exclusive of any other right that the Executive may have
or hereafter may acquire under any statute, provision of the Certificate of
Incorporation or Bylaws of the Company, agreement, vote of shareholders or
disinterested directors or otherwise.

7. Trade Secrets of the Company. Patents and Inventions.

          (a) Except as required by the performance of the Executive's services
to the Company under the terms of this Agreement, neither the Executive or any
of his agents or representatives, shall, during his employment and for so long
afterwards as the pertinent information or data remain Confidential Information,
directly or indirectly, make use of, permit others to use, divulge, disseminate,
copy or otherwise disclose the Company's Confidential Information and/or
Inventions as defined by subparagraphs (i) and (ii), respectively.

          (i) "Confidential Information" means all information and material
which is proprietary to the Company, whether or not marked as "confidential" or
"proprietary" and which is disclosed to or obtained from the Company by the
Executive, which relates to the Company' past, present or future research,

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development or business activities. Confidential Information is all information
or materials prepared by or for the Company and includes, without limitation,
all of the following: designs, drawings, specifications, techniques, models,
data, source code, object code, documentation, diagrams, flow charts, research,
development, processes, systems, methods, machinery, procedures, "know-how", new
product or new technology information, formulas, patents, patent applications,
product prototypes, product copies, cost of production, manufacturing,
developing or marketing techniques and materials, cost of production,
development or marketing time tables, customer lists, strategies related to
customers, suppliers or personnel, contract forms, pricing policies and
financial information, volumes of sales, and other information of similar
nature, whether or not reduced to writing or other tangible form, and any other
Trade Secrets, as defined by subparagraph (iii), or non-public business
information. Confidential Information does not include any information which (1)
was in the lawful and unrestricted possession of the Executive prior to its
disclosure by the Company, (2) is or becomes generally available to the public
by acts other than those of the Executive after receiving it, or (3) has been
received lawfully and in good faith by the Executive from a third party who did
not derive it from the Company.

          (ii) "Inventions" means and all discoveries, concepts and ideas,
whether patentable or not, including but not limited to, processes, methods,
formulas, compositions, techniques, articles and machines, as well as
improvements thereof or "know-how" related thereto, relating at the time of
conception or reduction to practice to the business engaged in by the Company,
or any actual or anticipated research or development by the Company.

          (iii) "Trade Secrets" shall mean any scientific or technical data,
information, design, process, procedure, formula or improvement that is
commercially available to the Company and is not generally known in the
industry.

Materials involving Confidential Information and Inventions are the exclusive
property of the Company and shall not be removed under any circumstances from
the premises of the Company where the work is being carried on without prior
written consent of the Company except when consistent with the Company's normal
business practices.

          (b) The Executive agrees that any inventions made, conceived or
completed by him during the term of his employment, solely or jointly with
others, which are made with the Company's equipment, supplies, facilities or
Confidential Information, or which relate at the time of conception or reduction
to purpose of the invention to the business of the Company or the Company's
actual or demonstrably anticipated research and development, or which result
from any work performed by the Executive for the Company, shall be the sole and
exclusive property of the Company. The Executive promises to assign such
inventions to the Company. The Executive also agrees that the Company shall have
the right to keep such inventions as trade secrets, if the Company chooses. The
Executive agrees to assign to the Company the Executive's rights in any other
inventions where the Company is required to grant those rights to the United
States government or any agency thereof. In order to permit the Company to claim
rights to which it may be entitled, the Executive agrees to disclose to the
Company in confidence all inventions which the Executive makes arising out of
the Executive's employment and all patent applications filed by the Executive
within one year after the termination of his employment.

          (c) The Executive shall assist the Company in obtaining patents on all
inventions, designs, improvements and discoveries patentable by the Company in
the United States and in all foreign countries, and shall execute all documents
and do all things necessary to obtain letters patent, to vest the Company with
full and extensive title thereto, and to protect the same against infringement
by others.

8. Severability. In the event that any provisions or portion of this Agreement
shall be determined to be invalid or unenforceable for any reason, in whole or
in part, the remaining provisions of this Agreement shall be unaffected thereby
and shall remain in full force and effect to the fullest extent permitted by
law.

9. Assignment. The rights of the Company (but not its obligations) under this
Agreement may, without the consent of the Executive, be assigned by the Company
to any parent, subsidiary, or a successor of the Company; provided that such
parent, subsidiary or successor acknowledges in writing that it is also bound by
the terms and obligations of this Agreement. Except as provided in the preceding
sentence, the Company may not assign all or any of its rights, duties or
obligations hereunder without the prior written

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consent of the Executive. Except as provided for in Section 11 hereunder, the
Executive may not assign all or any of his rights, duties or obligations
hereunder without the prior written consent of the Company.

10. Survival of Certain Provisions. The covenants and agreements set forth in
Paragraph 7 of this Agreement shall survive termination of the Executive's
employment and/or this Agreement, and shall remain in full force and effect
regardless of the cause of such termination.

11. Beneficiaries: References. The Executive shall be entitled to select (and
change) a beneficiary or beneficiaries to receive any compensation or benefit
payable following the Executive's death, and may change such election, in either
case, by giving the Company written notice thereof. In the event of the
Executive's death or a judicial determination of his incompetence, reference in
this Agreement shall be deemed, where appropriate, to refer to the Executive's
beneficiary, estate, committee, conservator or other legal representative.

12. Notices. All notices, requests, demands and other communications shall be in
writing and shall be defined to have been duly given if delivered or if mailed
by registered mail, postage prepaid;

          (a) If to the Executive, addressed to him at the following address as
may be changed in writing from time to time:

                   David H. Pohl
                   2528 Luciernaga Street
                   Carlsbad, CA 92009

          (b) If to the Company, addressed to:

                   Patriot Scientific Corporation
                   10989 Via Frontera
                   San Diego, CA 92127

or to such other address as any party may request by notice given as aforesaid
to the other parties hereto.

13. Titles and Headings. Titles and heading to paragraphs hereof are for the
purposes of references only and shall in no way limit, define or otherwise
effect the provisions hereof.

14. Governing Law. This Agreement is being executed and delivered and is
intended to be performed in the State of California, and shall be governed by
and construed in accordance with the laws of the State of California.

14.5 Arbitration/Sole Remedy for Breach of Agreement In the event of any dispute
between the Company and the Executive concerning any aspect of the employment
relationship, including any disputes upon termination, all such disputes shall
be resolved by binding arbitration before a single neutral arbitrator. The
arbitrator shall be selected from the "American Arbitration Association." The
arbitration shall be held in San Diego, California. The arbitrator is bound to
rule only on whether or not there has been a violation of the terms of this
employment agreement and to render an award, if any, that is consistent with the
terms of this employment agreement. Neither party to this employment agreement
is entitled to any legal recourse or rights or remedies other than those
provided within this employment agreement. The Executive's sole remedies, are
those set forth in this employment agreement. The arbitrator shall determine a
"prevailing party" and shall award such prevailing party (i) attorney's fees and
costs and (ii) the prevailing party's portion of the costs of arbitration.

In the event of any dispute between the Company and the Executive concerning any
ownership, use or disclosure of the Company's Confidential Information or other
intellectual property, the requirement of arbitration may be waived, at the
Company's sole election, and any such dispute may be brought before a court
having jurisdiction of the matter.

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

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It shall not be necessary in making proof of this Agreement to produce or
account for more than one original counterpart.

16. Entire Agreement. This Agreement contains the entire agreement of the
parties hereto and may be modified or amended only by a written instrument
executed by the parties hereto. Effective on the first day of the Employment
Period, any prior employment agreements between the Company and the Executive
shall terminate.

17. Good Faith. Each of the parties hereto agrees that he or it shall act in
good faith in all actions taken under this Agreement.

18. Waiver. No waiver of any of the provisions of this Agreement shall be deemed
to be or shall constitute a waiver of any other provision of the Agreement,
whether or not similar, nor shall any waiver constitute a continuing waiver. No
waiver of any provision of this Agreement shall be binding upon the parties
hereto unless it is executed in writing by the party making the waiver.

IN WITNESS WHEREOF, the parties hereto have executed the Agreement as of the day
and year first above written.

                                    Patriot Scientific Corporation
                                    By:

                                    /s/ RICHARD G. BLUM

                                    Richard G. Blum, Chairman & CEO

                                    /s/ DAVID H. POHL

                                    David H. Pohl
                                    Executive

                                       6April 15, 2001

     THIS LEASE,  made this 15th day of April,  2001, by and between  Barbara S.
Hale, first party (hereinafter called "Landlord"): and American Consumers, Inc.,
second party, (hereinafter called "Tenant"):

                              W I T N E S S E T H:

Premises

     1.  The  Landlord,  for  and  in  consideration  of the  rents,  covenants,
agreements and stipulations  hereinafter mentioned,  reserved, and contained, to
be paid, kept and performed by the Tenant,  has leased and rented,  and by these
presents  does lease and rent,  unto the said  Tenant,  and said  Tenant  hereby
agrees to lease and take upon the terms and conditions which hereinafter appear,
the following described property (hereinafter called "Premises"), to wit:

                              6555 Highway 41
                              Jasper, Marion County, Tennessee 37347

Term

     2. To have  and  hold  the  same  for an  initial  term of five  (5)  years
beginning  on the 28th day of April,  2001 and ending on the 30th date of April,
2006, at midnight, unless sooner terminated as hereinafter provided.

Renewal Term

     3. Tenant is hereby granted three (3) options to renew this Lease.  Each of
the options may be exercised by giving  Landlord thirty (30) days written notice
prior to the expiration of the initial term or any renewal term.

     The options are as follows:

                                                               MONTHLY
OPTION                    TERM                                 RENTAL
------                    ----                                 ------

   1             May l, 2006 - April 30, 2014                 $6,256.00
   2             May 1, 2014 - April 30, 2019                 $7,300.00
   3             May 1, 2019 - April 30, 2024                 $8,333.33

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Rental

     4. Tenant agrees to pay Landlord promptly on the first day of each month in
advance,  during  the term of this  Lease a  monthly  rental of  $5,200.00.  The
obligation  to pay rent shall begin May 1, 2001.  Rental of $347.00 will be paid
for April  29th and April  30th.  Tenant  may not  either  remain  behind in his
payments  or  routinely  get behind in making a payment.  More than one (1) late
payment  within a twelve  (12)  month  period  will  constitute  default  of the
agreement at the option of the  landlord.  All payments  more than ten (10) days
late  will bear an  interest  charge of 18% per  annum  until  paid in full.  In
addition,  any late  charges  or other  expenses  resulting  from the  action or
inaction of the Tenant and which are paid by the Landlord  would be charged back
to the Tenant in the next monthly rent payment.

Utility Bills

     5. Tenant shall pay all utility bills,  including but not limited to water,
sewer, gas, electricity,  fuel, light and heat bills for the leased premises and
Tenant shall pay all charges for garbage  collection  services or other sanitary
services  rendered  to the  leased  premises  or used by  Tenant  in  connection
therewith.  If Tenant  fails to pay any of said  utility  bills or  charges  for
garbage  collection or other  sanitary  services,  Landlord may pay the same and
such payment may be added to the rental of the premises  next due as  additional
rental.

Maintenance of Premises

     6. Landlord,  at its expense and risk, shall maintain and repair (including
all  necessary  replacements)  the roof,  foundation,  underground  or otherwise
concealed  plumbing,  structural  soundness  of the  exterior  walls,  excluding
windows and doors,  and the exterior of the  building in general;  additionally,
Landlord shall maintain and repair but not clean the parking lot.

     7. Tenant, at is expense and risk, shall maintain and repair, including all
necessary  replacements,  the interior  plumbing,  windows,  window glass, plate
glass, doors,  heating system,  air/conditioning  system and the interior of the
building  in general.  Notwithstanding  the  foregoing,  Landlord  warrants  the
operation of the air conditioning system for a period of thirty, (30) days after
the  commencement  of  this  Lease.  Additionally,  should  repairs  to the  air
conditioning  system in excess of $500.00 be required within thirty (30) days of
the expiration of this Lease,  Landlord shall be responsible for all repairs and
replacements of said air conditioning system in excess of $500.00.

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Tax Escalation

     8. Tenant shall pay upon demand,  as  additional  rental during the term of
this Lease and during the first and second  renewal term thereof,  the amount by
which all taxes  (including,  but not  limited  to, ad  valorem  taxes,  special
assessments  and any other  governmental  charges) on the  premises for each tax
year exceeds all taxes on the premises for the tax year 2001.  During the second
renewal term,  tenant shall pay, as additional  rental,  the amount by which all
such taxes on the premises for the tax year 2014 of the renewal term exceeds all
such  taxes on the  premises  for the  first  tax year  2013.  In the  event the
premises are less than the entire  property  assessed to such taxes for any such
tax  year,  the tax for any  such  year  applicable  to the  premises  shall  be
determined  by  proration  on the  ratio  that the  rentable  floor  area of the
premises bears to the rentable floor area of the entire  property  assessed.  If
the final year of the lease term fails to coincide  with the tax year,  then any
excess for the tax year  during  which the term ends shall be reduced by the pro
rata part of such tax year beyond the lease term.  If such taxes for the year in
which the lease  terminated  are not  ascertainable  before  payment of the last
month's rental,  then the amount of such taxes assessed against the property for
the  previous  tax year  shall be used as a basis  of  determining  the pro rata
share,  if any,  to be paid by Tenant for that  prortion of the last lease year.
Tenant's pro rata  portion of  increased  taxes,  as provided  herein,  shall be
payable  within  fifteen  days after  receipt of notice from  Landlord as to the
amount due.

Destruction of, or Damage to Premises

     9. If the  premises  are  totally  destroyed  by fire,  storm,  lightening,
earthquake,  or other  casualties,  this Lease shall terminate as of the date of
such  destruction,  and rental  shall be accounted  for as between  Landlord and
Tenant as of that date. If the Premises are damaged but not wholly  destroyed by
any of such  casualties,  Tenant  shall have the option  to: (a)  terminate  the
lease,  or (b) abate  rent in such  proportion  of use of  Premises  as has been
destroyed and to require Landlord to restore the Premises to  substantially  the
same condition as before the damage occurred, as speedily as practicable.

Indemnity

     10.  Tenant  agrees to indemnify  and save  Landlord  harmless  against all
claims for damages to persons or property by reason of the use and  occupancy of
the leased  premises,  including  any claims by Tenant's  agents and  employees,
Tenant's  customers  and invitees,  and any and all other  persons  coming on or
about the leased premises during the term of this Lease or any renewal  thereof.
Landlord shall be  responsible  for claims for damages to persons or property in
the  parking  lot if such claim was not caused by Tenant.  Mrs.  Barbara S. Hale
will be listed as an  additional  insured under the Tenant's  General  Liability
Policy and that on an annual basis when the policy is renewed be provided with a
copy of the policy renewal.  She shall be notified at any time the policy is not
in force.  The  General  Liability  Policy  will be for an amount  not less than
$1,000,000.00.

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Governmental Orders

     11.  Landlord  agrees,  at her own  expense,  to  promptly  comply with all
requirements  of any legally  constituted  public  authority  made  necessary by
reason of Tenant's occupancy of said premises.  It is mutually agreed,  however,
between Landlord and Tenant,  that if in order to comply with such requirements,
the cost to Landlord shall exceed a sum equal to six (6) month's rent,  then the
Landlord is  privileged  to  terminate  this Lease by giving  written  notice of
termination to the other party which  termination  shall become  effective sixty
(60) days after  receipt of such notice  unless party  receiving  such notice of
termination  shall,  before termination  becomes effective,  pay to party giving
notice  all cost of  compliance  in excess of six (6)  month's  rent,  or secure
payment of said sum in manner satisfactory to the party giving notice.

Condemnation

     12. If the whole of the leased  premises,  or such portion  thereof as will
make the premises  unusable for the purposes therein leased, be condemned by any
legally  constituted  authority  for any public use or purpose then in either of
said events the term hereby  granted  shall cease from the date when  possession
thereof is taken by public  authorities  and rental  shall be  accounted  for as
between  Landlord  and  Tenant to  recover  compensation  and  damage  caused by
condemnation  from the  condemner.  It is further  understood  and  agreed  that
neither the Tenant nor  Landlord  shall have any rights in any award made to the
other by any condemnation authority notwithstanding the termination of the lease
as herein provided.

Assignment and Subletting

     13.  Tenant shall have the right and option to sublet any portion of or all
of the leased premises,  upon written permission of the Landlord first obtained,
which permission shall not be unreasonably withheld by Landlord.

Removal of Fixtures

     14.  Tenant may (if not in default  hereunder)  prior to the  expiration of
this lease,  or any  extension  thereof,  remove all its fixtures and  equipment
provided Tenant repairs all damage to premises caused by such removal.

Cancellation of Lease by Landlord

     15. It is mutually  agreed that in the event that the Tenant shall  default
in the payment of rent,  including  additional rent, herein reserved,  when due,
and fails to cure said default within ten (10) days after written notice thereof
from  Landlord;  or if Tenant shall be in default in performing any of the terms
or provisions  of this Lease other than the  provision  requiring the payment of
rent,  and fails to cure such default  within thirty (30) days after the date of
receipt of written notice of default from Landlord;  or if Tenant is adjudicated
bankrupt or if a permanent  receiver is appointed for Tenant's property and such
receiver is not removed then Landlord reserves the right to terminate this Lease
upon thirty (30) days written notice to Tenant.

                                       4
<PAGE>

Signs

     16. Tenant shall be permitted to place such signs on the leased premises as
it deems necessary.

Entry for Carding, Etc.

     17.  Landlord may card  premises  "For Rent" or "For Sale" thirty (30) days
before  the  termination  of this  Lease  unless  the Lease has been  renewed as
hereinbefore  provided.  Landlord may enter the premises at reasonable  hours to
exhibit same to prospective  purchasers or tenants and to make repairs  required
of Landlord under the terms hereof,  or to make repairs to Landlord's  adjoining
property, if any.

Effect of Termination of Lease

     18. No  termination  of this Lease prior to the normal ending  thereof,  by
lapse of time or otherwise,  shall affect  Landlord's  right to collect rent for
the period prior to termination thereof.

Mortgage's Rights

     19. If disclosed to Tenant in writing by Landlord, Tenant's rights shall be
subject to any bona fide  mortgage  or deed to secure  debt which is now, or may
hereafter be, placed upon the premises by Landlord.

No Estate in Land

     20. This  contract  shall  create the  relationship  of Landlord and Tenant
between the parties  hereto;  no estate shall pass out of  Landlord.  Tenant has
only a usufruct,  not  subject to levy and sale,  and not  assignable  by Tenant
except by Landlord's consent.

Holding Over

     21. If Tenant  remains in  possession of premises  after  expiration of the
term hereof,  with Landlord's  acquiescence and without any express agreement of
parties,  Tenant  shall be a tenant at will at  rental  rate in effect at end of
this Lease; and there shall be no renewal of this Lease by operation of Law.

Rights Cumulative

     22. All rights,  powers and  privileges  conferred  hereunder  upon parties
hereto shall be cumulative but not restrictive to those given by law.

                                       5
<PAGE>

Service of Notice

     23. If to Landlord: Barbara S. Hale, P. O. Box 10, Jasper, Tennessee 37347.

     If to Tenant:  American Consumers,  Inc., P.O. Box 2328, 418 Alamar Street,
Fort Oglethorpe,  Georgia 30742, Attn: Michael A. Richardson,  President. Also a
copy to John F.  Henry,  Witt,  Gaither & Whitaker,  P.C.,  1100  SunTrust  Bank
Building, Chattanooga, Tennessee 37402.

Waiver of Rights

     24. No failure of Landlord  or Tenant to exercise  any power or right given
them  hereunder,  or to insist  upon  strict  compliance  by either  with  their
obligations hereunder, and no custom or practice of the parties at variance with
the terms hereof shall  constitute a waiver of Landlord's  or Tenant's  right to
demand exact compliance with the terms hereof.

Time of Essence

     25. Time is of the essence of this agreement.

Definitions

     26.  "Landlord"  as used in this Lease shall  include  first  party,  their
heirs, representative, assigns and successors in title to the premises. "Tenant"
shall include  second  party,  its heirs and  representative,  and if this Lease
shall be validly  assigned or sublet,  shall  include  also Tenant  assignees or
subleases,  as to premises  covered by such assignment or sublease.  "Landlord",
and  "Tenant",  include  male and  female,  singular  and  plural,  corporation,
partnership or individual, as may fit the particular parties.

Estoppel Certificate

     27.  (a)  Tenant  shall at any time upon not less than ten (10) days  prior
written  notice from  Landlord  execute,  acknowledge  and deliver to Landlord a
statement in writing:  (1) certifying  that this Lease is unmodified and in full
force and effect (or, if modified,  stating the nature of such  modification and
certifying  that this Lease, as so modified,  is in full force and effect),  and
the date to which the rent and other  charges are paid in advance,  if any,  and
(2)  acknowledging  that  there are not,  to  Tenant's  knowledge,  any  uncured
defaults on the part of Landlord  hereunder,  or specifying such defaults if any
are  claimed.  Any  such  statement  may  be  conclusively  relied  upon  by any
prospective purchaser or encumbrancer of the Premises.

     (b) At Landlord's option, Tenant's failure to deliver such statement within
such time shall be a material  breach of this Lease or shall be conclusive  upon
Tenant  (1) that this Lease is in full force and  effect,  without  modification
except as may be represented by Landlord, (2) that there are no uncured defaults
in Landlord's performance,  and (3) that not more than one month's rent has been
paid in advance or such  failure may be  considered  by Landlord as a default by
Tenant under this Lease.

                                       6
<PAGE>

     28. This Agreement  shall be interpreted  and construed in accordance  with
the  Laws of  Tennessee.  That  venue  and  jurisdiction  shall  rest  with  the
appropriate court(s) in Marion County.

     29. If any legal action or arbitration  or other  proceeding is brought for
the  enforcement  of this  Agreement  or cause of an  alleged  dispute,  breach,
default or  misrepresentation  in connection  with any of the provisions of this
agreement,  the  prevailing  party or  parties  shall  be  entitled  to  recover
reasonable  attorney's  fees and other costs  incurred in the  proceeding.  That
venue and  jurisdiction  shall  rest  with the  appropriate  court(s)  in Marion
County.

Entire Agreement, Modification

     This Lease contains the entire agreement of the parties hereto and no prior
or contemporaneous representations, inducements, promises or agreements, oral or
otherwise,  between the parties,  not embodied herein,  shall be of any force or
effect,  regardless of the course of dealing of the parties  hereto.  This Lease
may only be modified or amended in writing, signed by the parties hereto.

     IN WITNESS  WHEREOF,  the parties  herein have hereunto set their hands and
seals, in triplicate, the day and year first above written.

                                       7

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