Document:

EMPLOYMENT AGREEMENT

      EMPLOYMENT AGREEMENT, dated as of January 3, 2005 by and between Argan,
Inc. a Delaware corporation (the "Company") and Arthur F. Trudel, Jr. (the
"Executive").

                              W I T N E S S E T H:

      WHEREAS, the Company desires to continue the services of the Executive as
its Senior Vice President and Chief Financial Officer of the Company and the
Executive desires to continue to perform such services for the Company; and

      WHEREAS, the Company and the Executive desire to enter into this Agreement
to set forth the terms and conditions of the employment relationship between the
Company and the Executive, all in accordance with the terms and conditions set
forth below;

      NOW, THEREFORE, for and in consideration of the premises hereof and the
mutual covenants contained herein, the parties hereto hereby covenant and agree
as follows:

      1. Employment. The Company hereby continues the employment of the
Executive as its Senior Vice President and Chief Financial Officer, and the
Executive hereby agrees to continue to function as such for the Company, for the
period set forth in Section 2 hereof, all upon the terms and conditions
hereinafter set forth.

      2. Term of Employment. (a) Unless (i) earlier terminated as provided in
Section 7 hereof or (ii) renewed as provided in Section 2(b) hereof, the term of
the Executive's employment under this Agreement shall be for a period beginning
on January 3, 2005 and ending on January 3, 2006 (the "Initial Term").

      (b) The term of the Executive's employment under this Agreement shall be
automatically renewed for additional one-year terms (each, a "Renewal Term")
upon the expiration of the Initial Term or any Renewal Term unless the Company
or the Executive delivers to the other, at least 90 days prior to the expiration
of the Initial Term or the then current Renewal Term, as the case may be, a
written notice specifying that the term of the Executive's employment will not
be renewed at the end of the Initial Term or such Renewal Term, as the case may
be.

      (c) The period from January 3, 2005 until January 3, 2006 or, in the event
that the Executive's employment hereunder is earlier terminated as provided in
Section 7 hereof or renewed as provided in Section 2(b) hereof, such shorter or
longer period, as the case may be, is hereinafter called the "Employment Term".

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      3. Duties. The Executive shall be employed as Senior Vice President and
Chief Financial Officer of the Company and shall faithfully and competently
perform such duties as the Board of Directors of the Company shall from time to
time determine, which duties shall be consistent with such position. The
Executive shall perform his duties at the principal offices of the Company, with
travel to such other locations from time to time as the Board of Directors of
the Company may reasonably prescribe. Except as may otherwise be approved in
advance by the Board of Directors of the Company, and except during vacation
periods and personal days and reasonable periods of absence due to sickness,
personal injury or other disability, the Executive shall devote his full time
throughout the Employment Term to the services required of him hereunder. The
Executive shall render his services exclusively to the Company during the
Employment Term and shall use his best efforts, judgment and energy to improve
and advance the business and interests of the Company in a manner consistent
with the duties of his position.

      4. Compensation.

      (a) Salary. As compensation for the complete and satisfactory performance
by the Executive of the services to be performed by the Executive hereunder
during the Employment Term, the Company shall pay the Executive a base salary at
the annual rate of $150,000 which may be increased (but not reduced) from time
to time in such amounts as the Company may, in its reasonable discretion, deem
to be appropriate (said amount, together with any such increases, being
hereinafter referred to as the "Salary"). Any Salary payable hereunder shall be
paid in regular intervals in accordance with the Company's payroll practices
from time to time in effect. All compensation payable under this Agreement shall
be subject to applicable federal and state withholding tax requirements and
other deductions approved by the Executive.

      (b) Bonus Payments. For each calendar year during the Employment Term, the
Executive is eligible to receive an annual bonus in the discretion of the Board
of Directors subject to the satisfaction of such reasonable performance criteria
as shall be established for him with respect to such year.

      5. Benefits. During the Employment Term, the Executive shall:

      (a) be eligible to participate in executive fringe benefits that may be
provided by the Company for its executive employees in accordance with the
provisions of any such plans, as the same may be in effect from time to time;

      (b) be eligible to participate in any medical and health plans or other
executive welfare benefit plans that may be provided by the Company for its
executive employees in accordance with the provisions of any such plans, as the
same may be in effect from time to time;

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      (c) be entitled to annual paid vacation in accordance with the Company
policy that may be applicable to executive employees from time to time, such
vacation to be in no event less than two weeks in each calendar year;

      (d) be entitled to sick leave and sick pay in accordance with any Company
policy that may be applicable to executive employees from time to time;

      (e) be entitled to life insurance coverage (payable to his designated
beneficiary) and long term disability insurance coverage provided by the Company
to executive employees; and

      (f) be entitled to reimbursement for all reasonable and necessary
out-of-pocket business expenses incurred by the Executive in the performance of
his duties hereunder in accordance with the Company's policies for executive
employees.

      6. Stock Plans and Options. During the Employment Term, the Executive
shall be eligible to participate in any stock option, incentive and similar
plans established by the Company from time to time and at any time and the
Company shall grant to the Executive or cause to be granted to him stock options
and other benefits similar to the options and benefits granted to other
executives subject in all cases to the satisfaction by the Executive of the
terms and conditions of such plans and to the reasonable exercise by the Board
of Directors of any discretion granted to it or them thereunder.

      7. Termination: Effect of Termination. (a) The Executive's employment
hereunder shall be terminated upon the occurrence of any of the following:

            (i) death of the Executive;

            (ii) termination of the Executive's employment hereunder by the
      Company because of the Executive's inability to perform his duties on
      account of disability or incapacity for a period of one hundred eighty
      (180) or more days, whether or not consecutive, occurring within any
      period of twelve (12) consecutive months;

            (iii) written notice by the Company to the Executive of the
      termination of his employment hereunder by the Company at any time "for
      cause,"

            (iv) written notice by the Executive to the Company of the
      termination of the Executive's employment hereunder by the Executive
      because of a material diminution of the Executive's duties, authority or
      responsibility or a material impairment by action of the Company of his
      ability to perform his duties or responsibilities, regardless of whether
      such diminution of duties or impairment is accompanied by a change in the
      Executive's title of Senior Vice President and Chief Financial Officer;

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            (v) written notice by the Executive to the Company of a material
      breach by the Company of any provision of this Agreement if such breach
      continues for thirty (30) days after written notice thereof to the
      Company;

            (vi) written notice by the Executive to the Company of the voluntary
      termination of the Executive's employment hereunder by the Executive at
      any time for any reason whatsoever (including, without limitation,
      resignation or retirement) other than a breach of any provision of this
      Agreement by the Company (as described in paragraph (v) above) or other
      than the occurrence of any event described in clause (iv) above; or

            (vii) written notice by the Company to the Executive of the
      termination of his employment hereunder by the Company at any time without
      cause, including notice of non-renewal of this Agreement.

The following, and only the following, actions, failures or events by or
affecting the Executive shall constitute "cause" for termination within the
meaning of clause (iii) above:

(1) conviction of having committed a felony, (2) acts of dishonesty or moral
turpitude that are materially detrimental to the Company, (3) willful acts or
omissions which the Executive knew were likely to materially damage the business
of the Company or (4) willful and material breach by the Executive of his
obligations under this Agreement.

      (b) In the event that the Executive's employment with the Company is
terminated by the Executive pursuant to the clauses (iv), (v) or (vii) above,
then the Company shall pay to the Executive, as severance pay in a single lump
sum payment, an amount equal to 24 months of base salary within thirty (30) days
after the Executive's termination of employment, based on 12 times the
Executive's final full month of salary at the date the Executive's employment so
ceases, without reduction or offset for any other monies which the Executive may
thereafter earn or be paid. Executive shall also be entitled for a period of 24
months from the termination of his employment to the continuation of all
benefits, as provided for in Section 5, excluding sick and vacation time,
subject to any applicable employee co-payments.

      (c) In the event that the Executive's employment with the Company
terminates pursuant to clauses (i), (ii), (iii) or (vi) above, then
notwithstanding anything to the contrary expressed or implied herein, except as
required by applicable law and Section 8 hereof, the Company shall not be
obligated to make any payments to the Executive or on his behalf of whatever
kind or nature by reason of the Executive's cessation of employment other than
(i) such amounts, if any, of his Salary as shall have accrued and remained
unpaid as of the date of said cessation and (ii) such other amounts which may be
then otherwise payable to the Executive from the Company's benefit plans or
reimbursement policies, if any.

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      8. Change in Control.

      (a) In the event of a Change in Control (as hereinafter defined),
Executive shall be entitled to the compensation provided in Section 7(b) hereof
within thirty (30) days after the Change in Control.

      (b) Change in Control shall mean (i) any transfer or other transaction
whereby the right to vote more than fifty percent (50%) of the then issued and
outstanding capital stock of (A) the Company or (B) any subsidiary of the
Company to which the Company shall have transferred all or substantially all of
its business, is transferred to any party or affiliated group of parties, (ii)
any merger or consolidation of the Company (or a subsidiary of the Company of
the type described in clause (i)(B) above) with any other business entity, at
the conclusion of which transaction the persons who were holders of all the
voting stock of the Company immediately prior to the transaction hold less than
fifty percent (50%) of the total voting stock of the successor entity
immediately following the transaction, or (iii) any sale, lease, transfer or
other disposition of all or substantially all the assets of the Company (or a
subsidiary of the type described in clause (i)(B) above), or (iv) when, during
any period of 12 consecutive months, the individuals who, at the beginning of
such period, constitute the Company's Board of Directors (the "Incumbent
Directors") cease for any reason other than death to constitute at least a
majority thereof, provided that a director who was not a director at the
beginning of such 12-month period shall be deemed to have satisfied such
12-month requirement (and be an Incumbent Director) if such director was elected
by, or on the recommendation of or with the approval of at least two-thirds of
the directors who then qualified as Incumbent Director either actually (because
they were directors at the beginning of such 12-month period) or by prior
operation of this Section 8(b)(iv).

      9. Binding Effect. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, successors, legal
representatives and assigns.

      10. Notices. Any notice required or permitted to be given under this
Agreement shall be sufficient if in writing and either delivered in person or
sent by first class certified or registered mail, postage prepaid, if to the
Company, at the Company's principal place of business, and if to the Executive,
at his home address or addresses as either party shall have designated in
writing to the other party hereto.

      11. No Set-Off. The Company will pay promptly when due all sums to be paid
the Executive under this Agreement without abatement, deduction or reduction of
any kind or without any kind of setoff against any such sums; it being the
intention of the parties that all such sums shall continue to be payable in all
events unless the Company's obligation to pay such sums shall be terminated
pursuant to the express provisions of this Agreement.

      12. Law Governing. This Agreement shall be governed by and construed in
accordance with the laws of the State of Maryland.

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      13. Severability. If any part of this Agreement is held by a court of
competent jurisdiction to be invalid, illegible or incapable of being enforced
in whole or in part by reason of any rule of law or public policy, such part
shall be deemed to be severed from the remainder of this Agreement for the
purpose only of the particular legal proceedings in question and all other
covenants and provisions of this Agreement shall in every other respect continue
in full force and effect and no covenant or provision shall be deemed dependent
upon any other covenant or provision.

      14. Waiver. Failure to insist upon strict compliance with any of the
terms, covenants or conditions hereof shall not be deemed a waiver of such term,
covenant or condition, nor shall any waiver or relinquishment of any right or
power hereunder at any one or more times be deemed a waiver or relinquishment of
such right or power at any other time or times.

      15. Entire Agreement; Modifications. This Agreement constitutes the entire
and final expression of the agreement of the parties with respect to the subject
matter hereof and supersedes all prior agreements, oral and written. This
Agreement may be modified or amended only by an instrument in writing signed by
both parties hereto.

      16. Counterparts. This Agreement may be executed 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.

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

ARGAN, INC.                                    EXECUTIVE

By
  ----------------------------                 -------------------------------
  Its                                          Arthur F. Trudel, Jr.

                                     - 6 -EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT

      This Employment Agreement is made and entered into effective as of January
1, 2005 (the "Effective Date"), by and between NEOPROBE CORPORATION,  a Delaware
Corporation  with a place of  business  at 425 Metro  Place  North,  Suite  300,
Dublin,  Ohio 43017-1367  (the "Company") and BRENT L. LARSON of Columbus,  Ohio
(the "Employee").

      WHEREAS, the Company and the Employee entered into an Employment Agreement
effective as of April 1, 2000 (the "2000 Employment Agreement"); and

      WHEREAS, the Company and the Employee entered into an Employment Agreement
effective as of October 1, 2001 (the "2001 Employment Agreement"); and

      WHEREAS,  the  Company  and  the  Employee  amended  the  2001  Employment
Agreement on August 1, 2002 (the "2001 Amendment"); and

      WHEREAS, the Company and the Employee entered into an Employment Agreement
effective as of February 1, 2003 (the "2003 Employment Agreement"); and

      WHEREAS, the Company and the Employee entered into an Employment Agreement
effective as of January 1, 2004 (the "2004 Employment Agreement"); and

      WHEREAS,  the  Company  and the  Employee  wish to  establish  new  terms,
covenants,  and  conditions  for the Employee's  continued  employment  with the
Company through this agreement ("Employment Agreement").

      NOW,  THEREFORE,  in  consideration  of the mutual  agreements  herein set
forth, the parties hereto agree as follows:

      1.    DUTIES.  From and after the Effective Date, and based upon the terms
            and  conditions  set forth herein,  the Company agrees to employ the
            Employee and the Employee  agrees to be employed by the Company,  as
            Vice-President,  Chief Financial  Officer of the Company and in such
            equivalent,   additional  or  higher  executive  level  position  or
            positions as shall be assigned to him by the Company's President and
            CEO.  While serving in such  executive  level position or positions,
            the  Employee  shall  report to, be  responsible  to, and shall take
            direction from the President and CEO of the Company. During the Term
            of this  Employment  Agreement (as defined in Section 2 below),  the
            Employee agrees to devote  substantially  all of his working time to
            the   position  he  holds  with  the  Company  and  to   faithfully,
            industriously,  and  to the  best  of his  ability,  experience  and
            talent,  perform the duties that are  assigned to him.  The Employee
            shall  observe and abide by the  reasonable  corporate  policies and
            decisions  of the  Company  in all  business  matters  disclosed  to
            employee.

            The Employee  represents  and warrants to the Company that Exhibit A
            attached  hereto  sets  forth a true  and  complete  list of (a) all
            offices,  directorships  and other positions held by the Employee in
            corporations  and firms other than the Company and its  subsidiaries
            and (b) any investment or ownership  interest in any  corporation or
            firm  other  than the  Company  beneficially  owned by the  Employee
            (excluding  investments in life insurance  policies,  bank deposits,
            publicly  traded  securities that are less than five percent (5%) of
            their class and real estate).  The Employee will promptly notify the
            Board  of  Directors  of the  Company  of any  additional  positions
            undertaken or  investments  made by the Employee  during the Term of
            this  Employment  Agreement  if they are of a type  that if they had
            existed on the date  hereof,  should  have been  listed on Exhibit A
            hereto.  As long as the Employee's other positions or investments in
            other  firms do not  create a  conflict  of  interest,  violate  the
            Employee's  obligations  under Section 7 below or cause the Employee
            to neglect his duties hereunder, such activities and positions shall
            not be deemed to be a breach of this Employment Agreement.

<PAGE>

      2.    TERM OF THIS  EMPLOYMENT  AGREEMENT.  Subject  to  Sections  4 and 5
            hereof, the Term of this Employment  Agreement shall be for a period
            of  twenty-four  (24)  months,   commencing   January  1,  2005  and
            terminating December 31, 2006.

      3.    COMPENSATION.  During  the Term of this  Employment  Agreement,  the
            Company  shall  pay,  and the  Employee  agrees  to  accept  as full
            consideration  for  the  services  to be  rendered  by the  Employee
            hereunder, compensation consisting of the following:

            A.    SALARY.  Beginning  on  the  first  day of the  Term  of  this
                  Employment  Agreement,  the Company  shall pay the  Employee a
                  salary of one hundred forty-seven thousand four hundred twenty
                  dollars  ($149,000.00)  per year,  payable in  semi-monthly or
                  monthly  installments  as requested by the Employee.  Further,
                  the  Company  agrees to review the  Employee's  base salary by
                  January 1, 2006.

            B.    BONUS. The Compensation Committee of the Board of Directors
                  will, on an annual basis, review the performance of the
                  Company and of the Employee and will pay such bonus, as it
                  deems appropriate, in its discretion, to the Employee based
                  upon such review. Such review and bonus shall be consistent
                  with any bonus plan adopted by the Compensation Committee,
                  which covers the executive officers and employees of the
                  Company generally.

            C.    BENEFITS.  During the Term of this Employment  Agreement,  the
                  Employee will receive such employee  benefits as are generally
                  available to all employees of the Company.

            D.    STOCK OPTIONS. The Compensation Committee of the Board of
                  Directors may, from time-to-time, grant stock options,
                  restricted stock purchase opportunities and such other forms
                  of stock-based incentive compensation as it deems appropriate,
                  in its discretion, to the Employee under the Company's Stock
                  Option and Restricted Stock Purchase Plan and the 1996 Stock
                  Incentive Plan (the "Stock Plans"). The terms of the relevant
                  award agreements shall govern the rights of the Employee and
                  the Company thereunder in the event of any conflict between
                  such agreement and this Employment Agreement.

            E.    VACATION.  The Employee shall be entitled to twenty-five  (25)
                  days of vacation  during each calendar year during the Term of
                  this Employment Agreement.

            F.    EXPENSES.  The Company  shall  reimburse  the Employee for all
                  reasonable  out-of-pocket  expenses  incurred  by  him  in the
                  performance of his duties  hereunder,  including  expenses for
                  travel,  entertainment  and similar items,  promptly after the
                  presentation  by  the  Employee,  from  time-to-time,   of  an
                  itemized account of such expenses.

      4. TERMINATION.

            A.    FOR CAUSE.  The Company may  terminate  the  employment of the
                  Employee  prior  to the end of the  Term  of  this  Employment
                  Agreement  "for  cause."  Termination  "for  cause"  shall  be
                  defined as a termination  by the Company of the  employment of
                  the Employee occasioned by the failure by the Employee to cure
                  a willful  breach of a material  duty  imposed on the Employee
                  under this Employment  Agreement  within 15 days after written
                  notice  thereof  by the  Company  or the  continuation  by the
                  Employee  after written notice by the Company of a willful and
                  continued neglect of a duty imposed on the Employee under this
                  Employment  Agreement.  In the  event  of  termination  by the
                  Company "for cause," all salary,  benefits and other  payments
                  shall cease at the time of termination,  and the Company shall
                  have no further obligations to the Employee.

            B.    RESIGNATION.  If the  Employee  resigns  for any  reason,  all
                  salary,  benefits  and other  payments  (except  as  otherwise
                  provided in  paragraph G of this  Section 4 below) shall cease
                  at the time such resignation becomes effective. At the time of
                  any such  resignation,  the Company shall pay the Employee the
                  value of any accrued but unused  vacation time, and the amount

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<PAGE>

                  of all accrued but  previously  unpaid base salary through the
                  date of such termination,  excluding any salary deferred under
                  paragraph  A of Section 3 above.  The Company  shall  promptly
                  reimburse the Employee for the amount of any expenses incurred
                  prior to such  termination  by the Employee as required  under
                  paragraph G of Section 3 above.

            C.    DISABILITY, DEATH. The Company may terminate the employment of
                  the Employee  prior to the end of the Term of this  Employment
                  Agreement  if the  Employee  has been  unable to  perform  his
                  duties hereunder for a continuous period of six (6) months due
                  to a physical or mental  condition  that,  in the opinion of a
                  licensed  physician,  will  be of  indefinite  duration  or is
                  without a reasonable  probability  of  recovery.  The Employee
                  agrees to submit to an examination by a licensed  physician of
                  his choice in order to obtain such opinion,  at the request of
                  the Company,  made after the Employee has been absent from his
                  place of employment  for at least six (6) months.  The Company
                  shall  pay  for  any  requested  examination.   However,  this
                  provision  does  not  abrogate  either  the  Company's  or the
                  Employee's  rights and obligations  pursuant to the Family and
                  Medical  Leave Act of 1993,  and a  termination  of employment
                  under this paragraph C shall not be deemed to be a termination
                  for cause.

                  If during the Term of this Employment Agreement,  the Employee
                  dies  or  his   employment  is   terminated   because  of  his
                  disability,  all salary,  benefits  and other  payments  shall
                  cease at the time of death or disability,  provided,  however,
                  that the Company shall provide such health, dental and similar
                  insurance or benefits as were provided to Employee immediately
                  before his  termination by reason of death or  disability,  to
                  Employee  or his family for the longer of twelve  (12)  months
                  after  such  termination  or the full  unexpired  Term of this
                  Employment   Agreement  on  the  same  terms  and   conditions
                  (including cost) as were applicable  before such  termination.
                  In addition,  for the first six (6) months of disability,  the
                  Company  shall pay to the  Employee  the  difference,  if any,
                  between  any cash  benefits  received by the  Employee  from a
                  Company-sponsored   disability   insurance   policy   and  the
                  Employee's  salary hereunder in accordance with paragraph A of
                  Section  3 above.  At the time of any  such  termination,  the
                  Company shall pay the  Employee,  the value of any accrued but
                  unused  vacation  time,  and the  amount  of all  accrued  but
                  previously  unpaid  base  salary  through  the  date  of  such
                  termination. The Company shall promptly reimburse the Employee
                  for  the  amount  of  any  expenses  incurred  prior  to  such
                  termination by the Employee as required  under  paragraph G of
                  Section 3 above.

            D.    TERMINATION  WITHOUT CAUSE.  A termination  without cause is a
                  termination  of the  employment of the Employee by the Company
                  that is not "for cause" and not occasioned by the resignation,
                  death or disability of the Employee. If the Company terminates
                  the employment of the Employee without cause,  (whether before
                  the end of the Term of this  Employment  Agreement  or, if the
                  Employee is employed by the Company under  paragraph E of this
                  Section 4 below,  after the Term of this Employment  Agreement
                  has ended) the Company shall, at the time of such termination,
                  pay  to  the  Employee  the  severance   payment  provided  in
                  paragraph F of this Section 4 below together with the value of
                  any  accrued  but unused  vacation  time and the amount of all
                  accrued but previously  unpaid base salary through the date of
                  such  termination  and  shall  provide  him  with  all  of his
                  benefits under  paragraph C of Section 3 above for twelve (12)
                  months.  The Company shall promptly reimburse the Employee for
                  the amount of any expenses  incurred prior to such termination
                  by the  Employee  as required  under  paragraph F of Section 3
                  above.

                  If the  Company  terminates  the  employment  of the  Employee
                  because  it  has  ceased  to  do  business  or   substantially
                  completed  the  liquidation  of its  assets or  because it has
                  relocated  to another city and the Employee has decided not to
                  relocate also, such  termination of employment shall be deemed
                  to be without cause.

            E.    END OF THE  TERM  OF  THIS  EMPLOYMENT  AGREEMENT.  Except  as
                  otherwise  provided in  paragraphs  F and G of this  Section 4
                  below,  the  Company  may  terminate  the  employment  of  the
                  Employee at the end of the Term of this  Employment  Agreement
                  without  any  liability  on the  part  of the  Company  to the

                                      -3-
<PAGE>

                  Employee  but, if the Employee  continues to be an employee of
                  the Company after the Term of this Employment  Agreement ends,
                  his  employment  shall be governed by the terms and conditions
                  of this Agreement, but he shall be an employee at will and his
                  employment may be terminated at any time by either the Company
                  or  the  Employee  without  notice  and  for  any  reason  not
                  prohibited  by  law  or no  reason  at  all.  If  the  Company
                  terminates  the  employment  of the Employee at the end of the
                  Term of this Employment  Agreement,  the Company shall, at the
                  time of such  termination,  pay to the Employee the  severance
                  payment  provided  in  paragraph  F of  this  Section  4 below
                  together  with the value of any  accrued  but unused  vacation
                  time and the amount of all accrued but previously  unpaid base
                  salary through the date of such termination. The Company shall
                  promptly   reimburse  the  Employee  for  the  amount  of  any
                  reasonable  expenses incurred prior to such termination by the
                  Employee as required under paragraph F of Section 3 above.

            F.    SEVERANCE.  If the employment of the Employee is terminated by
                  the  Company,  at the  end  of the  Term  of  this  Employment
                  Agreement  or,  without cause  (whether  before the end of the
                  Term of this  Employment  Agreement  or,  if the  Employee  is
                  employed by the Company  under  paragraph E of this  Section 4
                  above, after the Term of this Employment Agreement has ended),
                  the Employee shall be paid, as a severance payment at the time
                  of such  termination,  the  amount of one  hundred  forty-nine
                  thousand  ($149,000.00) together with the value of any accrued
                  but unused vacation time.

            G.    CHANGE OF CONTROL SEVERANCE.  In addition to the rights of the
                  Employee   under  the   Company's   employee   benefit   plans
                  (paragraphs C of Section 3 above) but in lieu of any severance
                  payment under paragraph F of this Section 4 above, if there is
                  a Change in Control of the Company (as defined  below) and the
                  employment  of the Employee is  concurrently  or  subsequently
                  terminated  (a)  by  the  Company  without  cause,  (b) by the
                  expiration of the Term of this Employment Agreement, or (c) by
                  the  resignation  of the  Employee  because he has  reasonably
                  determined  in  good  faith  that  his  titles,   authorities,
                  responsibilities, salary, bonus opportunities or benefits have
                  been materially diminished,  that a material adverse change in
                  his working conditions has occurred,  that his services are no
                  longer  required in light of the Company's  business  plan, or
                  the  Company  has  breached  this  Employment  Agreement,  the
                  Company shall pay the Employee, as a severance payment, at the
                  time  of  such   termination,   the  amount  of  two   hundred
                  ninety-eight thousand dollars ($298,000.00)  together with the
                  value of any accrued but unused  vacation time, and the amount
                  of all accrued but  previously  unpaid base salary through the
                  date of  termination  and shall  provide  him with all of this
                  benefits  under  paragraph C of Section 3 above for the longer
                  of  twelve  (12)  months or the full  un-expired  Term of this
                  Employment Agreement. The Company shall promptly reimburse the
                  Employee for the amount of any expenses incurred prior to such
                  termination by the Employee as required  under  paragraph F of
                  Section 3 above.

                  For the  purpose  of this  Employment  Agreement,  a Change in
                  Control  of the  Company  has  occurred  when:  (a) any person
                  (defined  for the  purposes  of this  paragraph  G to mean any
                  person within the meaning of Section 13 (d) of the  Securities
                  Exchange  Act  of  1934  (the  "Exchange  Act")),  other  than
                  Neoprobe or an employee  benefit  plan created by its Board of
                  Directors for the benefit of its employees, either directly or
                  indirectly,  acquires beneficial  ownership  (determined under
                  Rule 13d-3 of the  Regulations  promulgated  by the Securities
                  and Exchange  Commission  under  Section 13(d) of the Exchange
                  Act) of securities  issued by Neoprobe  having thirty  percent
                  (30%) or more of the voting power of all the voting securities
                  issued by Neoprobe in the  election of  Directors  at the next
                  meeting  of the  holders of voting  securities  to be held for
                  such purpose;  (b) a majority of the Directors  elected at any
                  meeting of the holders of voting  securities  of Neoprobe  are
                  persons who were not  nominated for such election by the Board
                  of Directors or a duly  constituted  committee of the Board of
                  Directors   having   authority  in  such   matters;   (c)  the
                  stockholders of Neoprobe  approve a merger or consolidation of
                  Neoprobe   with   another   person  other  than  a  merger  or
                  consolidation  in  which  the  holders  of  Neoprobe's  voting
                  securities  issued and  outstanding  immediately  before  such
                  merger or consolidation  continue to hold voting securities in
                  the surviving or resulting  corporation  (in the same relative
                  proportions  to each  other  as  existed  before  such  event)
                  comprising  eighty  percent  (80%) or more of the voting power

                                      -4-
<PAGE>

                  for all purposes of the surviving or resulting corporation; or
                  (d)  the  stockholders  of  Neoprobe  approve  a  transfer  of
                  substantially  all of the assets of Neoprobe to another person
                  other than a transfer to a transferee, eighty percent (80%) or
                  more of the voting  power of which is owned or  controlled  by
                  Neoprobe or by the  holders of  Neoprobe's  voting  securities
                  issued and outstanding immediately before such transfer in the
                  same relative proportions to each other as existed before such
                  event.  The  parties  hereto  agree  that for the  purpose  of
                  determining  the time when a Change of  Control  has  occurred
                  that if any transaction  results from a definite proposal that
                  was  made  before  the  end of the  Term  of  this  Employment
                  Agreement but which  continued until after the end of the Term
                  of  this   Employment   Agreement  and  such   transaction  is
                  consummated  after  the end of the  Term  of  this  Employment
                  Agreement,  such transaction  shall be deemed to have occurred
                  when the  definite  proposal  was made for the purposes of the
                  first sentence of this paragraph G of this Section 4.

            H.    BENEFIT AND STOCK  PLANS.  In the event that a benefit plan or
                  Stock Plan which covers the  Employee has specific  provisions
                  concerning   termination  of  employment,   or  the  death  or
                  disability of an employee (e.g.,  life insurance or disability
                  insurance), then such benefit plan or Stock Plan shall control
                  the disposition of the benefits or stock options.

      5.    PROPRIETARY   INFORMATION   AGREEMENT.   Employee   has  executed  a
            Proprietary  Information Agreement as a condition of employment with
            the Company.  The  Proprietary  Information  Agreement  shall not be
            limited by this Employment Agreement in any manner, and the Employee
            shall  act in  accordance  with the  provisions  of the  Proprietary
            Information   Agreement  at  all  times  during  the  Term  of  this
            Employment Agreement.

      6.    NON-COMPETITION.  Employee agrees that for so long as he is employed
            by the Company under this Employment  Agreement and for one (1) year
            thereafter, the Employee will not:

            A.    enter into the employ of or render any services to any person,
                  firm,  or  corporation,  which is engaged,  in any part,  in a
                  Competitive Business (as defined below);

            B.    engage  in any  directly  Competitive  Business  for  his  own
                  account;

            C.    become  associated with or interested in through  retention or
                  by  employment  any  Competitive  Business  as an  individual,
                  partner, shareholder,  creditor, director, officer, principal,
                  agent, employee, trustee, consultant, advisor, or in any other
                  relationship or capacity; or

            D.    solicit,  interfere  with, or endeavor to entice away from the
                  Company, any of its customers,  strategic partners, or sources
                  of supply.

            Nothing in this Employment  Agreement  shall preclude  Employee from
            taking  employment  in the  banking  or related  financial  services
            industries nor from investing his personal  assets in the securities
            or any  Competitive  Business  if such  securities  are  traded on a
            national  stock  exchange or in the  over-the-counter  market and if
            such investment does not result in his beneficially  owning,  at any
            time,  more  than one  percent  (1%) of the  publicly-traded  equity
            securities of such Competitive Business.  "Competitive Business" for
            purposes of this  Employment  Agreement  shall mean any  business or
            enterprise which:

            a.    is  engaged in the  development  and/or  commercialization  of
                  gamma radiation  detection  products and/or systems for use in
                  intraoperative detection of cancer, or

            b.    reasonably understood to be competitive in the relevant market
                  with products and/or systems described in clause a above, or

            c.    the  Company  engages  in during  the Term of this  Employment
                  Agreement   pursuant  to  a  determination  of  the  Board  of
                  Directors and from which the Company derives a material amount
                  of revenue or in which the Company has made a material capital
                  investment.

                                      -5-
<PAGE>
            The covenant set forth in this Section 6 shall terminate immediately
            upon the substantial  completion of the liquidation of assets of the
            Company or the  termination of the employment of the Employee by the
            Company  without cause or at the end of the Term of this  Employment
            Agreement.

      7.    ARBITRATION.   Any  dispute  or  controversy  arising  under  or  in
            connection   with  this   Employment   Agreement  shall  be  settled
            exclusively by arbitration in Columbus, Ohio, in accordance with the
            non-union  employment  arbitration rules of the American Arbitration
            Association ("AAA") then in effect. If specific non-union employment
            dispute  rules are not in effect,  then AAA  commercial  arbitration
            rules  shall  govern  the  dispute.  If the amount  claimed  exceeds
            $100,000,   the  arbitration  shall  be  before  a  panel  of  three
            arbitrators.  Judgment may be entered on the  arbitrator's  award in
            any court  having  jurisdiction.  The Company  shall  indemnify  the
            Employee  against and hold him harmless  from any  attorney's  fees,
            court  costs  and  other  expenses   incurred  by  the  Employee  in
            connection with the preparation, commencement, prosecution, defense,
            or enforcement of any arbitration,  award,  confirmation or judgment
            in order to assert or defend any right or obtain any  payment  under
            paragraph  C of  Section  4 above or under  this  sentence;  without
            regard to the success of the  Employee  or his  attorney in any such
            arbitration or proceeding.

      8.    GOVERNING  LAW. The  Employment  Agreement  shall be governed by and
            construed in accordance with the laws of the State of Ohio.

      9.    VALIDITY.  The  invalidity or  unenforceability  of any provision or
            provisions  of  this  Employment  Agreement  shall  not  affect  the
            validity or  enforceability of any other provision of the Employment
            Agreement, which shall remain in full force and effect.

      10.   ENTIRE AGREEMENT.

            A.    The 2000,  2001, 2003 and 2004  Employment  Agreements and the
                  2001 Amendment are terminated as of the effective date of this
                  Employment Agreement, except that awards under the Stock Plans
                  granted  to the  Employee  in the  2000,  2001,  2003 and 2004
                  Employment  Agreements  and  the  2001  Amendment  or  in  any
                  previous employment agreement or by the Compensation Committee
                  remain in full force and effect.

            B.    This Employment Agreement constitutes the entire understanding
                  between the parties with respect to the subject matter hereof,
                  superseding   all   negotiations,   prior   discussions,   and
                  preliminary  agreements.  This Employment Agreement may not be
                  amended except in writing executed by the parties hereto.

      11.   EFFECT ON SUCCESSORS OF INTEREST.  This  Employment  Agreement shall
            inure to the benefit of and be binding  upon heirs,  administrators,
            executors,  successors  and assigns of each of the  parties  hereto.
            Notwithstanding  the above, the Employee  recognizes and agrees that
            his obligation  under this Employment  Agreement may not be assigned
            without the consent of the Company.

IN WITNESS  WHEREOF,  the  parties  hereto  have  executed  and  delivered  this
Employment Agreement as of the date first written above.

NEOPROBE CORPORATION                                 EMPLOYEE

By: /s/ David C. Bupp                                /s/ Brent L. Larson
    --------------------------------                 ---------------------------
    David C. Bupp, President and CEO                 Brent L. Larson

                                      -6-

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