Document:

TERMINATION OF STOCK PURCHASE AGREEMENT
                                   AND RELEASE

      This   Termination   of  Stock   Purchase   Agreement  and  Release  (this
"Termination  and  Release") is entered into as of the ____ day of May,  2005 by
and between Biophan Technologies,  Inc., a Nevada corporation  ("Biophan"),  and
SBI Brightline  Consulting,  LLC, a California  limited  liability company ("SBI
Brightline"),  for the  purpose  of  terminating  the Stock  Purchase  Agreement
between Biophan and SBI Brightline dated as of February 5, 2004.

      This  Termination  and  Release is  entered  into in  connection  with the
consummation of the  transactions  contemplated by the Purchase  Agreement,  and
both parties  desire to terminate  any existing  obligations  under the Purchase
Agreement.

      NOW,  THEREFORE,  for good and  valuable  consideration,  the  receipt and
sufficiency  of  which is  hereby  acknowledged,  the  parties  hereto  agree as
follows:

      1.    Termination; Release. The Purchase Agreement is hereby terminated in
its entirety and, notwithstanding any provision of the Purchase Agreement to the
contrary,  neither Biophan nor SBI Brightline shall have any further obligations
thereunder.  Each of Biophan and SBI Brightline  releases the other from any and
all  obligations,  liabilities,  damages or other claims it may have against the
other, now existing or hereafter arising pursuant to the Purchase Agreement.

      2. Governing Law. This Termination and Release shall be governed by and
construed  under  the laws of the  State of New  York,  excluding  choice-of-law
provisions   which  would  direct  the   application  of  the  laws  of  another
jurisdiction.

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

                  [Remainder of page intentionally left blank.]

<PAGE>

      IN WITNESS WHEREOF,  the parties hereto have executed this Termination and
Release as of the day and year first set forth above.

                                  BIOPHAN TECHNOLOGIES, INC.

                                  By:
                                     -------------------------------------------
                                  Name:   Robert J. Wood
                                  Title:  Vice President, Treasurer and
                                          Chief Financial Officer

                                  SBI BRIGHTLINE CONSULTING, LLC

                                  By:
                                     -------------------------------------------
                                  Name:   Shelly Singhal
                                  Title:  Managing Member

                                       2EXECUTIVE EMPLOYMENT AGREEMENT

      THIS  AGREEMENT is entered into with the intent that it be effective as of
09 September, 2004, by and between Biophan Technologies,  Inc. ("BTI"), a Nevada
corporation  having its principal  place of business at 150 Lucius Gordon Drive,
Suite  215,  West  Henrietta,  New York  14586  ("Company")  and John  Lanzafame
("Executive"),  an individual residing 7858 Victor-Mendon Road, Victor, New York
14564.

1.    EMPLOYMENT RELATIONSHIP

      1.1.  Executive shall be and hereby is employed  initially in the capacity
            as set forth in Exhibit A, in consequence  whereof  Executive  shall
            faithfully, fully, and to the best of his ability perform and render
            such  services  and  perform  such  duties  for  Company as it shall
            direct,  and Executive  shall devote  sufficient time and efforts to
            such services and duties,  although Executive is permitted to engage
            in other revenue generating activity, provided it does not interfere
            with his  employment  with BTI, and further  provided that Executive
            provides  prior  written  notice to the Company of his  intention to
            engage  in  other  business  activity,  and the  Company  reasonably
            believes  that such  activity  will not compete with the business of
            the Company.

      1.2.  As compensation  for the performance of his duties,  Executive shall
            receive  an  annual  salary  in the  initial  amount as set forth in
            Exhibit A, such salary to be paid in regular  periodic  installments
            as the  parties  agree,  and  performance  bonuses as  reflected  in
            Exhibit A.

      1.3.  Executive shall be entitled to stock options as set forth in Exhibit
            A. In  addition  to the  options  set forth in Exhibit A,  Executive
            shall also be eligible to receive  additional  option  grants,  from
            time to time, pursuant to the Company's Stock Option Plan.

      1.4.  Executive shall be entitled to vacation time as set forth in Exhibit
            A.

      1.5.  Executive  shall be entitled to  participate  in all fringe  benefit
            programs  now or  hereafter  made  available  to any  other  persons
            employed in a similar capacity.

      1.6.  Company  shall  reimburse  Executive  for all  travel  and  business
            expenses  incurred by him,  which are  reasonable  and necessary for
            carrying on the business of the Company, and as such are approved by
            the Company.  Expenses  shall be reimbursed  after  presentation  by
            Executive of an itemized and documented  account of such expenses in
            form and  substance  satisfactory  to the  Company,  and  after  the
            Company  has  determined  that such  expenditures  were  reasonable,
            ordinary, necessary and approved.

      1.7.  The initial term of this Agreement shall be two (2) years, and shall
            automatically  renew for  subsequent  one (1) year terms unless this
            Agreement is otherwise terminated by either party in accordance with
            Section 3.

      1.8.  The  Company  shall  maintain  general  liability  insurance  and  a
            Directors'  and Officers'  policy,  with coverage  comparable to the
            coverage  in  effect  on  the  date  this  Agreement  is  signed  by
            Executive.

      1.9.  The Company  shall  indemnify and hold  blameless  Executive for any
            liability  resulting from public  statements  made by Company in any
            public  communication  not  reviewed,  made  or  authorized  by  the
            Executive, including, but not limited to, press releases, brochures,
            convention materials,  other print, video, or CD materials,  and the
            Company website.

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<PAGE>

2.    COVENANTS BY EXECUTIVE

      2.1.  Upon  execution of this  Agreement,  Executive  shall enter into the
            Company's  Confidential  Information,  Invention and Non-Competition
            Agreement, a copy of which is attached hereto as Exhibit B.

3.    TERMINATION/SEVERANCE

      3.1.  The  Executive's  employment  hereunder may be  terminated  upon the
            occurrence of any of the following:

            (i)   the death of the Executive;

            (ii)  termination  by Executive upon thirty (30) days' notice to BTI
                  ("Voluntary Termination"),  or thirty (30) days' notice by BTI
                  to Executive ("Involuntary Termination");

            (iii) upon  the  permanent   disability   of  Executive;   the  term
                  "permanent  disability"  shall  mean no longer  being  able to
                  perform  the   essential   functions  of  the  position   with
                  reasonable accommodation;

            (iv)  at the Executive's discretion, upon a change in control in the
                  Company,  where the phrase  "Change in Control" shall mean (1)
                  on the date of the merger or consolidation of the Company with
                  another  entity  where the members of the Board of  Directors,
                  immediately prior to the merger or  consolidation,  would not,
                  immediately  after the merger or  consolidation,  constitute a
                  majority of the Board of Directors of the entity  issuing cash
                  or securities in the merger or consolidation;  (2) on the date
                  Michael L. Weiner is terminated as CEO of the Company;  or (3)
                  on the  date  of  the  sale  or  other  disposition  of all or
                  substantially all of the assets of the Company;

            (v)   at the Executive's  discretion,  upon a significant  change in
                  the  Executive's  job  duties or  responsibilities,  where the
                  phrase  "Significant  Change In The  Executive's Job Duties Or
                  Responsibilities"  shall mean a material change in the type of
                  work Executive performs;.

            (vi)  termination  of the  Executive's  employment  hereunder by the
                  Company  at any time for  "cause",  such  termination  to take
                  effect immediately upon written notice from the Company to the
                  Executive.

      3.2.  Cause.  For all purposes of this  Agreement,  the term "cause" shall
            mean the  occurrence of one or more of the following  events (i) the
            Executive  willfully refuses to obey reasonable and lawful orders of
            the CEO or the Board of Directors;  (ii) the Executive has willfully
            breached or habitually  neglected his duty and has failed to correct
            his  behavior  within  five (5) days  following  receipt  of written
            notice of such concerns; (iii) the Executive has been convicted in a
            court of law of a crime or  offense  which  involves  dishonesty  or
            fraud;  (iv)  the  Executive  has  breached  any of the  Executive's
            obligations  pursuant to this  Agreement;  or (v) the  Executive has
            committed an intentional tort against the Company or its Executives.

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<PAGE>

      3.3.  Severance for  Involuntary  Termination;  Disability or  Significant
            Changes  in  Job  Responsibilities.  In  the  event  of  Involuntary
            Termination of the Executive,  Disability or Significant  Changes in
            Job  Responsibilities,  the Company will pay the  Executive  (i) the
            unpaid  amount of the  Executive's  Base Salary  through the date of
            termination  as set forth in Exhibit A hereof,  as amended from time
            to time; and (ii) bonus compensation, if any, assuming written goals
            required  by the  bonus  plan are met,  or  would  likely  be met if
            Executive  remained  employed.  The details of the bonus payment and
            when it is  earned  and how it is  calculated  will be  outlined  in
            separate  agreement to be agreed upon by the Executive and the Board
            of Directors.  In addition the Executive shall have three (3) months
            from the date of  termination  to  exercise  his rights to  purchase
            stock in the Company  pursuant to any vested but unexercised  option
            or warrant agreement.  All payments made to the Executive  hereunder
            will be subject to all applicable employment and withholding taxes.

      3.4.  Severance for Change in Control,  . In the event of  termination  of
            employment of the Executive due to a Change in Control,  the Company
            will pay the Executive (i) the unpaid amount of the Executive's Base
            Salary through the date of termination as set forth in Exhibit A, as
            amended from time to time; (ii) bonus compensation ,if any, assuming
            written goals required by the bonus plan are met, or would likely be
            met if Executive remained employed (the details of the bonus payment
            and when it is earned and how it is  calculated  will be outlined in
            separate  agreement to be agreed upon by the Executive and the Board
            of Directors); and (iii) a severance payment equal to six (6) months
            of his then current salary, in three (3) equal installments with the
            first installment due and payable within fifteen (15) days following
            termination'  the second  installment  due and payable within thirty
            (30) days following  termination;  and the third installment due and
            payable within sixty (60) days following  termination.  In addition,
            the Executive will be immediately  vested in any warrants,  options,
            retirement  plans or agreements  then in effect and the Company will
            continue the Executive's  medical,  dental, and vision insurance for
            the  six (6)  month  period.  All  payments  made  to the  Executive
            hereunder  will  be  subject  to  all   applicable   employment  and
            withholding taxes.

      3.5.  Termination  for Cause. In the event of the termination for Cause of
            the Executive,  all unexercised warrants and options, whether or not
            vested, shall be canceled and the Executive will not be eligible for
            severance  payments.  The  Company  shall pay to the  Executive  the
            unpaid  amount of the  Executive's  Base Salary  through the date of
            termination as set forth in Exhibit A.

      3.6.  Voluntary Termination.  In the event of the Voluntary Termination of
            the Executive,  all unvested warrants and options shall be canceled,
            and the Executive  shall remain  eligible to exercise the vested but
            unexercised warrants and options with respect to any unexercised but
            vested  options.  The  Executive  will not be eligible for severance
            payments.  The Company  shall pay to the Executive the unpaid amount
            of the  Executive's  Base Salary  through the date of termination as
            set forth in Exhibit A.

      3.7.  The  provisions of this Section 3 shall survive  termination of this
            Agreement for any reason.

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<PAGE>

4.    MISCELLANEOUS PROVISIONS

      4.1.  Executive  hereby  represents  and warrants  that he is free to make
            this Agreement,  and the making hereof and/or performance  hereunder
            by him will not violate  the legal  and/or  equitable  rights of any
            third party.

      4.2.  This Agreement and the Employee Confidential Information,  Invention
            and Non-Competition Agreement embody the entire understanding of the
            parties, and there are no promises, terms, covenants,  conditions or
            obligations or other written,  expressed or implied agreements other
            than  those  contained  herein.  No change or  modification  of this
            Agreement  shall be valid  unless the same  shall be in writing  and
            signed by both parties hereto.

      4.3.  The waiver by either  party  hereto of a breach of any  provision of
            this  Agreement  shall not operate as or be construed as a waiver of
            any subsequent breach of this Agreement.

      4.4.  The employment by Company or Executive is being effected  because of
            Executive's special capabilities and qualifications,  and all of his
            rights, benefits and duties hereunder are, therefore, not assignable
            or transferable in any manner.

      4.5.  Except  as set  forth  in  the  Employee  Confidential  Information,
            Invention and Non-Competition Agreement, any controversy,  claim, or
            dispute arising out of or relating to this  Agreement,  or breach of
            any provision of this  Agreement,  shall be settled by  arbitration,
            and, in connection therewith, the Company and Executive hereto agree
            that:

            A.    Either  Executive  or Company may  initiate  arbitration  of a
                  claim  by  giving   written   notice   to  the   other   party
                  ("Arbitration Notice").

            B.    Within ten (10) days  after the date on which the  Arbitration
                  Notice is given,  Executive  and  Company  shall  agree upon a
                  single arbitrator or, if they fail to do so for any reason, at
                  any time  after the  expiration  of such ten (10) day  period,
                  either party may request the American Arbitration  Association
                  to designate an arbitrator.  Any arbitration  proceeding shall
                  be held in the County of Monroe, the State of New York.

            C.    The arbitrator  shall  promptly  consider the facts in dispute
                  and  resolve  the same in  accordance  with  the  Rules of the
                  Arbitration  Association (or any successor organization if the
                  American  Arbitration   Association  no  longer  exists).  The
                  decision of the  arbitrator  shall be final,  conclusive,  and
                  binding upon Company and Executive.

            D.    The fees and expenses of the arbitrator in any such proceeding
                  (including the fees and expenses of any person retained by the
                  arbitrator) and the fees and expenses of counsel for Executive
                  and  Company  shall  be  borne by the  respective  parties  as
                  follows:

                  (i)   The party that did not initiate  such  proceeding  shall
                        bear the portion of such fees and  expenses  represented
                        by the  fraction  having  a  numerator  equal to the net
                        dollar  amount of any recovery  actually  awarded to the
                        initiating  party by the  arbitrator in such  proceeding
                        and having a denominator  equal to the maximum aggregate
                        dollar amount  originally  sought to be recovered by the
                        initiating  party in  connection  with the  claim  being
                        arbitrated; and

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<PAGE>

                  (ii)  The initiating party shall bear the remaining portion of
                        such fees and expenses.

                  In the event that  multiple  claims  shall be  involved in any
                  such  proceeding,  the fees and  expenses  of such  proceeding
                  shall be allocated as provided above based upon the outcome of
                  the claim having the largest dollar amount  originally  sought
                  to be recovered.

            E.    The arbitrator shall have the power to grant injunctive relief
                  and other provisional remedies and to issue such orders as may
                  be deemed necessary in connection therewith.

      4.6.  If any provision of this Agreement is  unenforceable,  the remaining
            provisions  shall, to the extent  possible,  be carried into effect,
            taking  into  account  the  general  purposes  and  spirit  of  this
            Agreement.

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

COMPANY                                         EXECUTIVE

By:
   -------------------------------              --------------------------------
     Robert J. Wood                             John Lanzafame

                                       5
<PAGE>

                                    EXHIBIT A

Position/Job Title:

            Vice President of Business Development, President of Nanolution, LLC

Annual Salary:

            $130,000, payable bi-weekly.

Stock Options:

            Executive  shall receive a  non-qualified  option to purchase common
            shares of the Company as determined by the Compensation Committee of
            the Board of Directors.

Healthcare Plan:

            Executive   will  receive  the  Company's  full  health  care  plan,
            including dental and vision.

Paid Vacation:

            4 weeks

Paid Holidays:

            Eleven  (11)  paid  holidays  according  to the  Company's  standard
            holiday schedule.

<PAGE>

                                    EXHIBIT B

   Employee Confidential Information, Invention and Non-Competition Agreement

For good and  valuable  consideration,  including  my  continued  employment  by
Biophan  Technologies,  Inc. (the "Company") or its successors and assigns,  and
any of its  present or future  subsidiaries,  or  organizations  controlled  by,
controlling, or under common control with it, I agree as follows:

1.    That the  Company  operates  in a  competitive  environment,  and that its
success is due in part to the  competitive  advantage  afforded it by its unique
and proprietary  trade secrets and other  confidential  information  relating to
biomedical  research  and  technology  development  as  well as  other  business
processes and product technologies, in which the Company has invested (and plans
to continue investing) great time, effort,  skill and expense. I understand that
the  Company  would be  unwilling  to  employ  and  compensate  me,  but for the
restrictions of this Agreement.  I acknowledge that my employment by the Company
may include inventing, discovering,  initiating, or contributing to Confidential
or Proprietary Information as an integral part thereof.

2.    At all times  before  and after the  termination  of my  service  (for any
reason by the Company or by me), I will keep all  Confidential  Information  (as
defined  below)  in  strict  confidence  and  secrecy,  and  not  disclose  such
Confidential  Information to anyone, and not use the Confidential Information in
any way  outside of my  assigned  responsibilities  for the  Company,  except as
expressly pre-authorized by the Company in writing.  "Confidential  Information"
means  information  or an idea that:  (a) a competitor  may secure a significant
competitive  advantage  over the  Company  by  using;  (b) the  Company  has not
disclosed to others  outside the Company  without  restriction;  (c) the Company
considers Confidential;  (d) is not available in some form to others outside the
Company;  or (e) the  Executive  did not know the  information  before  becoming
employed.  "Confidential  Information"  relates  only to  biomedical  technology
associated  with  MRI  and  drug  elution  devices,  as well  as  other  Company
proprietary business processes or technology.

3.    During the period of my service with the Company,  and for a period of one
(1) year after the termination of such service,  I agree not to compete with the
Company,  solicit any clients of the Company or  otherwise  engage,  assist,  or
participate directly or indirectly in the same business or businesses as that or
those  conducted  by the  Company,  involving  the same or similar  products  or
services,  in any  jurisdiction  in which  the  Company  is doing  business.  In
addition, I agree not to engage, directly or indirectly,  as an owner, promoter,
consultant,  officer,  director,  employee or substantial stockholder or acquire
any material  investment or other  substantial  equity  interest in any business
entity that so  competes  with the  Company.  I agree that this  restriction  is
reasonable  in time and scope and will not  unduly  restrict  me from  earning a
livelihood.

4.    For a period of one (1) year following termination of my service with the
Company,  I agree that I shall not:  (a)  persuade  or attempt to  persuade  any
employee  of the  Company to leave the employ of the  Company;  (b)  solicit any
client of the Company  with  respect to any  products of the type offered by the
Company;  (c)  provide  any  services  to any client of the  Company of the type
offered by the Company; or (d) assist,  directly or indirectly,  any other party
in  soliciting  any  client of the  Company  with  respect  to any  products  or
providing  any  services to any client of the Company of the type offered by the
Company.  I agree that this restriction is reasonable in time and scope and will
not unduly restrict me from earning a livelihood.

5.    To promptly  disclose to the Company all inventions,  copyrightable  works
and other intellectual property that I have or will conceive,  create or develop
during the term of my employment. I further agree to transfer to the Company, or
its designee, all rights in the Confidential Information or in any expression of
the Confidential Information, in any invention,  copyright or other intellectual
property,  whether or not  patented or  patentable,  relating  to the  Company's
business, made, conceived or developed by me, alone or with others, while I have
been or continue to be employed  by the  Company,  whether or not in  connection
with my  assigned  duties and whether or not  developed  with the use of Company
personnel, facilities, equipment or other resources. I hereby irrevocably assign
to the Company or its designee all patent,  copyright and other ownership rights
in all such inventions, copyrightable works and other intellectual property, and
agree (before and after  termination  of my  employment)  to execute any and all
papers and documents and to provide  reasonable  assistance from time to time as
the  Company  may  consider  to be  necessary  or  convenient  in  obtaining  or
perfecting  any and all of such  rights  for  itself or its  designee.  If after
termination of my employment,  these responsibilities are substantial in nature,
they will be  compensated  at  prevailing  consulting  fee  levels,  and will be
coordinated with any new employment time demands. I further agree to request, in
writing,  a release from the Company for any  inventions or  discoveries  that I
wish to pursue  personally and for which the Company  determines  that it has no
present or future interest in such invention or discovery, and that I shall take
no  action  contrary  to the  Company's  interests  in any  such  inventions  or
discoveries until I receive a written response to my request. Failure to provide
a written  response  within three (3) months  shall  constitute a release by the
Company.  In the  event  the  Company  is  unable  for any  reason  to secure my
signature to any lawful and necessary  document required to apply for or execute
any patent  applications  or  copyright  registrations  with  respect to such an
invention or copyrightable work (including renewals, extensions,  continuations,
divisions or continuations in part thereof), I hereby irrevocably  designate and
appoint the Company and its duly  authorized  officers and agents,  as my agents
and attorneys-in-fact to act for and on my behalf and, instead of me, to execute
and file any such  application  or  registration  and to do all  their  lawfully
permitted acts to further the  prosecution  and issuance of patents or copyright
registration thereon with the same legal force and effect as if executed by me.

                                       1
<PAGE>

6.    To  return  to  the  Company  all  notes,   records,   lists,   files  and
documentation  (in hard copy or machine  readable  form)  supplied  to me by the
Company  or its  business  associates,  or  created by me in the course of or in
connection  with my  employment,  or  otherwise  used,  created,  collected,  or
controlled  by me while  employed by the  Company,  upon request by the Company,
and, in any event,  upon  termination of my  employment.  I will do this without
keeping any copies  (including  copies on any computer or data  storage  media).
However, regardless of any other provision herein, I will be allowed to retain a
copy, for personal non-business use, of any speeches, presentations, or articles
prepared before or during the course of my employment.

7.    I further  warrant and  represent  to the Company that I am not subject to
any agreement or university policy  inconsistent  with this Agreement  regarding
inventions  or  discoveries  set forth  herein.  I further agree to refrain from
engaging in any other employment or outside business  interest without the prior
written  consent of the Company,  excluding the  following  interests in which I
will continue to be engaged prior to beginning this employment:

         a. N/A

         b.
             -------------------------------------------------------------------

         c.
             -------------------------------------------------------------------

Requires Acknowledgement by Officer of Company                   ____/____/20___
                                              ---------------

8.    This Agreement shall benefit and may be enforced by the Company, its
successors or assigns, and shall bind me and any successors in interest, and may
not be changed in whole or in part except in a writing  signed by an  authorized
officer of the Company and me.

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<PAGE>

This Agreement is governed by internal New York law. Any litigation commenced by
a party and relating to this Agreement or its subject matter shall be within the
exclusive jurisdiction of the courts of the State of New York, Monroe County, or
if the jurisdiction  prerequisites  exist at the time, the Federal Courts of New
York with  venue to be in the  Western  District  of New York,  and the  parties
hereby waive any right in such litigation to object to personal jurisdiction and
venue.  The Company  shall be entitled to  preliminary,  temporary and permanent
injunctive relief to restrain any violation of this Agreement by me, in addition
to damages and other remedies.

The  Company  may  notify  anyone  subsequently  employing  or  retaining  me or
evidencing  any  intention  to  employ  or  retain  me as to the  existence  and
provisions of this  Agreement.  No waiver of any provision of this Agreement (or
any similar  agreement  with any other  person)  shall  constitute  or imply any
continuing,  other or further waiver, and the Company shall be free to reinstate
the  waived  term at any  time  and to  enforce  all  other  provisions  of this
Agreement at its sole discretion.  This is the entire  agreement  concerning its
subject  matter.  I  understand  that my  employment  with  the  Company  may be
terminated by either me or the Company at any time in accordance  with the terms
of my Employment Agreement, to which this document is attached.

Having read and understood  this  Agreement,  I have  willingly and  voluntarily
executed and unconditionally delivered this Agreement to the Company,  effective
as of the 9th day of September, 2004.

John Lanzafame

---------------------------------
Signature

                                       3

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