Document:

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                                                                    EXHIBIT 10.2

                            STOCK EXCHANGE AGREEMENT

         THIS STOCK EXCHANGE AGREEMENT (the "Agreement") is made and entered
into this ____ day of __________, 2001 by and among BIOMED RESEARCH
TECHNOLOGIES, INC., a Delaware corporation (hereinafter referred to as
"BioMed"), SURE MEDICAL, INCORPORATED, a Nevada corporation (hereinafter
referred to as "Sure"), DR. WILLIAM STAFFORD, the principal shareholder of Sure
through his interest in _____________ ("Stafford") and the shareholders of Sure
listed on the counterpart signature pages hereto constituting all of the
shareholders of Sure (hereinafter collectively with Stafford referred to as the
"Sure Shareholders").

                                    RECITALS:

         A.       The Sure Shareholders own all of the issued and outstanding
shares of the capital stock of Sure.

         B.       BioMed is willing to acquire all of the issued and outstanding
capital stock of Sure, making Sure a wholly-owned subsidiary of BioMed, and the
Sure Shareholders desire to exchange all of their shares of Sure's capital stock
for authorized but unissued shares of Common Stock, par value $.001 per share
(the "Common Stock") of BioMed as hereinafter provided.

         C.       It is the intention of the parties hereto that: (i) BioMed
shall acquire all of the issued and outstanding capital stock of Sure in
exchange solely for the consideration set forth below (the "Exchange"); and (ii)
the Exchange shall qualify as a transaction in securities exempt from
registration or qualification under the Securities Act of 1933, as amended, and
under the applicable securities laws of each jurisdiction where the Sure
Shareholders reside.

         D.       It is the intention of the parties that the Exchange qualify
as a "tax-free" transaction within the meaning of Section 368 of the Internal
Revenue Code of 1986.

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

SECTION 1.  PURCHASE OF SHARES

         1.1      Acquisition of Shares. BioMed and the Sure Shareholders hereby
agree that the Sure Shareholders shall, on the Closing Date (as hereinafter
defined), exchange an aggregate of 3,230,000 shares of the Common Stock of Sure
which constitute all of the issued and outstanding shares of capital stock of
Sure (the "Sure Shares") and BioMed shall issue to the Sure Shareholders an
aggregate of 3,230,000

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Shares of BioMed's Common Stock (the "BioMed Shares"). The allocation of the
BioMed Shares to the Sure Shareholders is set forth on Exhibit A hereto.

         1.2      Delivery of Sure Shares. On the Closing Date, the Sure
Shareholders will deliver to BioMed the certificates representing the Sure
Shares, duly endorsed (or with executed stock powers) so as to make BioMed the
sole owner thereof. Simultaneously, BioMed will deliver certificates
representing the BioMed Shares to the Sure Shareholders.

         1.3      Investment Intent. The BioMed Shares have not been registered
under the Securities Act of 1933, as amended (the "Act"), and may not be resold
unless the BioMed Shares are registered under the Act or an exemption from such
registration is available. The Sure Shareholders represent and warrant that each
of them is acquiring the BioMed Shares for his, her or its own account, for
investment, and not with a view to the sale or distribution of the BioMed
Shares. Each certificate representing the BioMed Shares will have a legend
thereon incorporating language as follows:

         "The shares represented by this certificate have not been registered
         under the Securities Act of 1933, as amended (the "Act") or any state
         securities laws. The shares have been acquired for investment and may
         not be sold or transferred in the absence of an effective Registration
         Statement for the shares under the Act unless in the opinion of counsel
         satisfactory to the Company, registration is not required under the Act
         or any applicable state securities laws."

SECTION 2. REPRESENTATIONS AND WARRANTIES OF SURE, STAFFORD AND SURE
SHAREHOLDERS

         Sure, Stafford and the Sure Shareholders hereby represent and warrant
as follows (except that with respect to the Sure Shareholders other than
Stafford, such representations and warranties shall be to the best of their
knowledge other than with respect to Section 2.2 below):

         2.1      Organization and Good Standing. Sure is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Nevada, and is entitled to own or lease its properties and to carry on its
business as and in the places where such properties are now owned, leased or
operated and such business is now conducted. Sure is qualified to do business as
a foreign corporation in each jurisdiction, if any, in which its property or
business requires such qualification. Sure does not have any subsidiaries.

         2.2      Ownership of Sure Shares and Authorization of Agreement. The
Sure Shareholders represent as to his, her or their respective ownership of Sure
Shares, that he, she or they are the owner of record and beneficially of all of
the shares of capital stock of Sure listed in their respective names on Exhibit
A hereto, all of which shares are free and clear of all rights, claims, liens
and encumbrances, and have not been sold, pledged,

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assigned or otherwise transferred except pursuant to this Agreement. There are
no outstanding subscriptions, rights, options, warrants or other agreements
obligating either Sure or the Sure Shareholders to issue, sell or transfer any
stock or other securities of Sure. The Sure Shareholders have the power to enter
into this Agreement and to carry out the obligations hereunder. This Agreement
has been duly executed by each Sure Shareholder, or its authorized
representative, and constitutes the valid and binding obligation of each Sure
Shareholder and is enforceable against each Sure Shareholder in accordance with
its terms.

         2.3      Financial Statements, Books and Records. There has been
previously delivered to BioMed the [audited] balance sheet of Sure as at
____________ (the "Balance Sheet") and the related statement of operations for
the period then ended (collectively the "Financial Statements"). The Financial
Statements fairly represent the financial position of Sure as at such date and
the results of its operations for the period then ended.

         2.4      No Material Adverse Changes. Since the date of the Balance
Sheet there has not been:

                  (i)      any material adverse change in the assets,
operations, condition (financial or otherwise) or prospective business of Sure;

                  (ii)     any damage, destruction or loss materially affecting
the assets, prospective business, operations or condition (financial or
otherwise) of Sure, whether or not covered by insurance;

                  (iii)    any declaration, setting aside or payment of any
dividend or distribution with respect to any redemption or repurchase of Sure's
capital stock;

                  (iv)     any sale of an asset (other than in the ordinary
course of business) or any mortgage or pledge by Sure of any properties or
assets; or

                  (v)      adoption of any pension, profit sharing, retirement,
stock bonus, stock option or similar plan or arrangement.

         2.5      Compliance with Laws. Sure has complied with all federal,
state, county and local laws, ordinances, regulations, inspections, orders,
judgments, injunctions, awards or decrees applicable to it or its business
which, if not complied with, would materially and adversely affect the business
of Sure.

         2.6      No Breach. The execution, delivery and performance of this
Agreement and the consummation of the transactions contemplated hereby will not:

                  (i)      violate any provision of the Charter or By-Laws of
Sure;

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                  (ii)     violate, conflict with or result in the breach of any
of the terms of, result in a material modification of, otherwise give any other
contracting party the right to terminate, or constitute (or with notice or lapse
of time or both constitute) a default under, any contract or other agreement to
which Sure is a party or by or to which it or any of its assets or properties
may be bound or subject;

                  (iii)    violate any order, judgment, injunction, award or
decree of any court, arbitrator or governmental or regulatory body against, or
binding upon, Sure, or upon the properties or business of Sure; or

                  (iv)     violate any statute, law or regulation of any
jurisdiction applicable to the transactions contemplated herein which could have
a materially adverse effect on the business or operations of Sure.

         2.7      Actions and Proceedings. There is no outstanding order,
judgment, injunction, award or decree of any court, governmental or regulatory
body or arbitration tribunal against or involving Sure. There is no action, suit
or claim or legal, administrative or arbitral proceeding or (whether or not the
defense thereof or liabilities in respect thereof are covered by insurance)
bankruptcy, criminal, civil or regulatory proceeding pending or threatened
against or involving Sure or any of its properties, assets or shares of Common
Stock. Except as set forth on Schedule 2.7, there is no fact, event or
circumstances that may give rise to any suit, action, claim, investigation or
proceeding.

         2.8      Brokers or Finders. No broker's or finder's fee will be
payable by Sure in connection with the transaction contemplated by this
Agreement, nor will any such fee be incurred as a result of any actions by Sure
or the Sure Shareholders.

         2.9      Real Estate. Sure neither owns real property nor is a party to
any leasehold agreement.

         2.10     Tangible Assets. Sure has full title and interest in all
machinery, equipment, furniture, leasehold improvements, fixtures, vehicles,
structures, owned or leased by Sure, any related capitalized items or other
tangible property material to the business of Sure (the "Tangible Assets"). Sure
holds all rights, title and interest in all the Tangible Assets owned by it on
the Balance Sheet or acquired by it after the date of the Balance Sheet free and
clear of all liens, pledges, mortgages, security interests, conditional sales
contracts or any other encumbrances except as set forth on Schedule 2.10.

         2.11     Liabilities. Sure does not have any material direct or
indirect indebtedness, liability, claim, loss, damage, deficiency, obligation or
responsibility, known or unknown, fixed or unfixed, liquidated or unliquidated,
secured or unsecured, accrued or absolute, contingent or otherwise, (all of the
foregoing collectively defined to as "Liabilities"), which were not fully,
fairly and adequately reflected on the Balance Sheet. As of the Closing Date,
Sure will not have any Liabilities, other than Liabilities fully and adequately
reflected on the Balance Sheet, except for Liabilities incurred in the ordinary
course of business.

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         2.12     Operations of Sure. Except as set forth on Schedule 2.12, from
the date of the Balance Sheet and through the Closing Date hereof Sure has not
and will not have:

                  (i)      incurred any indebtedness for borrowed money;

                  (ii)     declared or paid any dividend or declared or made any
distribution of any kind to any shareholder, or made any direct or indirect
redemption, retirement, purchase or other acquisition of any shares in its
capital stock;

                  (iii)    made any material loan or advance to any shareholder,
officer, director, employee, consultant, agent or other representative or made
any other material loan or advance otherwise than in the ordinary course of
business;

                  (iv)     except in the ordinary course of business, incurred
or assumed any material indebtedness or liability (whether or not currently due
and payable);

                  (v)      disposed of any assets of Sure except in the ordinary
course of business; or

                  (vi)     issued any equity securities or rights to acquire
such equity securities.

         2.13     Capitalization. The authorized capital stock of Sure consists
of 50,000,000 shares of common stock of which 3,230,000 shares are presently
issued and outstanding. Neither Sure nor the Sure Shareholders have granted,
issued or agreed to grant, issue or make available any warrants, options,
subscription rights or any other commitments of any character relating to the
issued or unissued shares of capital stock of Sure. All of the Sure Shares are
duly authorized and validly issued, fully paid and non-assessable.

         2.14     Intellectual Property.

                  (i)      Except to the extent that the inaccuracy of any of
the following (or the circumstances giving rise to such inaccuracy) does not
have or could not reasonably be expected to have a material adverse effect:

                           (A)      Sure owns, or is licensed or otherwise has
the legally enforceable right to use (in each case, clear of any liens or
encumbrances of any kind), all Intellectual Property (as hereinafter defined)
used in or necessary for the conduct of its business as currently conducted;

                           (B)      no claims are pending or, to the best
knowledge of Sure, threatened that Sure or any of its subsidiaries is infringing
on or otherwise violating the rights of any person with regard to any
Intellectual Property used by, owned by, and/or licensed to Sure, and to the
best knowledge of Sure, there are no valid grounds for any such claims;

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                           (C)      to the best knowledge of Sure, no person is
infringing on or otherwise violating any right of Sure with respect to any
Intellectual Property owned by and/or licensed to Sure;

                           (D)      to the best knowledge of Sure, there are no
valid grounds for any claim challenging the ownership or validity of any
Intellectual Property owned by Sure or challenging Sure's license or legally
enforceable right to use any Intellectual Property licensed by it; and

                           (E)      to the best knowledge of Sure, all patents,
registered trademarks, service marks, and copyrights held by Sure are valid and
subsisting.

                  (ii)     For purposes of this Agreement, "Intellectual
Property" means trademarks (registered or unregistered), service marks, brand
names, certification marks, trade dress, assumed names, trade names, and other
indications of origin, the goodwill associated with the foregoing and
registrations in any jurisdiction of, and applications in any jurisdiction to
register, the foregoing, including any extension, modification or renewal of any
such registration or application; inventions, discoveries and ideas, whether
patented, patentable, or not in any jurisdiction; trade secrets and confidential
information and rights in any jurisdiction to limit the use or disclosure
thereof by any person; writings and other works of authorship, whether
copyrighted, copyrightable, or not in any jurisdiction; registration or
applications for registration of copyrights in any jurisdiction, and any
renewals or extensions thereof; any similar intellectual property or proprietary
rights and computer programs and software (including source code, object code,
and data); licenses, immunities, covenants not to sue, and the like relating to
the foregoing; and any claims or causes of action arising out of or related to
any infringement or misappropriation of any of the foregoing.

                  (iii)    Schedule 2.14(iii) sets forth a list of all the
Intellectual Property of Sure domain names owned by Sure. Sure has full and
complete ownership of all patents.

         2.15     Taxes. Except as set out by attached schedule, all required
tax returns or federal, state, county, municipal, local, foreign and other taxes
and assessments have been properly prepared and filed by Sure for all years for
which such returns are due unless an extension for filing any such return has
been properly prepared and filed. Any and all federal, state, county, municipal,
local, foreign and other taxes, assessments, including any and all interest,
penalties and additions imposed with respect to such amounts have been paid or
provided for. The provisions for federal and state taxes reflected in the Sure
Financial Statements are adequate to cover any such taxes that may be assessed
against Sure in respect of its business and its operations during the periods
covered by the Sure Financial Statements and all prior periods.

         2.16     Corporate Authority. Sure has the corporate power to enter
into this Agreement and to carry out its obligations hereunder. The execution
and delivery of this Agreement by Sure have been duly authorized by its Board of
Directors, and no other

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corporate proceedings on the part of Sure are necessary to approve this
Agreement or the transactions contemplated hereby.

         2.17     Full Disclosure. No representation or warranty by Sure or the
Sure Shareholders in this Agreement or in any document or schedule to be
delivered by them pursuant hereto, and no written statement, certificate or
instrument furnished or to be furnished to BioMed pursuant hereto or in
connection with the negotiation, execution or performance of this Agreement
contains or will contain any untrue statement of a material fact or omits or
will omit to state any fact necessary to make any statement herein or therein
not materially misleading or necessary to a complete and correct presentation of
all material aspects of the businesses of Sure.

SECTION 3.  REPRESENTATIONS AND WARRANTIES OF BIOMED

         BioMed hereby represents and warrants to the Sure Shareholders as
follows:

         3.1      Organization and Good Standing. BioMed is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Delaware, and is entitled to own or lease its properties and to carry on its
business as and in the places where such properties are now owned, leased, or
operated and such business is now conducted. The authorized capital stock of
BioMed consists of 40,000,000 shares of Common Stock, par value $.001 per share,
of which _______ shares are presently issued and outstanding and 10,000,000
share of Preferred Stock, par value $.001 per share, of which no shares have
been issued. BioMed is duly licensed or qualified and in good standing as a
foreign corporation where the character of the properties owned by BioMed or the
nature of the business transacted by it make such license or qualification
necessary.

         3.2      The BioMed Shares. The BioMed Shares to be issued to the Sure
Shareholders have been or will have been duly authorized by all necessary
corporate and shareholder actions and, when so issued in accordance with the
terms of this Agreement, will be validly issued, fully paid and non-assessable.

         3.3      Financial Statements, Books and Records. The [audited] balance
sheet of BioMed as at ____________, 200___, and statements of operations for the
periods then ended previously delivered to Sure were prepared in accordance with
generally accepted accounting principles applied on a consistent basis with
prior periods, and such financial statements fairly represent the financial
position of BioMed as at such dates and the results of its operations for the
periods then ended. The unaudited balance sheet of BioMed as at ____________,
200____, and statements of operations for the periods then ended previously
delivered to Sure were compiled but were not prepared in accordance with
generally accepted accounting principles applied on a consistent basis with
prior periods. However, such compiled financial statements fairly represent the
financial position of BioMed as at such dates and the results of its operations
for the periods then ended.

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         3.4      No Material Adverse Changes. Since ____________, 200___, there
has not been:

                  (i)      any material adverse change in the assets,
operations, condition (financial or otherwise) or prospective business of
BioMed;

                  (ii)     any damage, destruction or loss materially affecting
the assets, prospective business, operations or condition (financial or
otherwise) of BioMed, whether or not covered by insurance;

                  (iii)    any declaration, setting aside or payment of any
dividend or distribution with respect to any redemption or repurchase of
BioMed's capital stock;

                  (iv)     any sale of an asset (other than in the ordinary
course of business) or any mortgage or pledge by BioMed of any properties or
assets; or

                  (v)      adoption of any pension, profit sharing, retirement,
stock bonus, stock option or similar plan or arrangement.

         3.5      Compliance with Laws. BioMed has complied with all federal,
state, county and local laws, ordinances, regulations, inspections, orders,
judgments, injunctions, awards or decrees applicable to their businesses which,
if not complied with, would materially and adversely affect the business of
BioMed or the trading market for the shares of BioMed's Common Stock.

         3.6      No Breach. The execution, delivery and performance of this
Agreement and the consummation of the transactions contemplated hereby will not:

                  (i)      violate any provision of the Articles of
Incorporation or By-Laws of BioMed;

                  (ii)     violate, conflict with or result in the breach of any
of the terms of, result in a material modification of, otherwise give any other
contracting party the right to terminate, or constitute (or with notice or lapse
of time or both constitute) a default under, any contract or other agreement to
which BioMed is a party or by or to which it or any of its assets or properties
may be bound or subject;

                  (iii)    violate any order, judgment, injunction, award or
decree of any court, arbitrator or governmental or regulatory body against, or
binding upon, BioMed or upon the securities properties or business of BioMed; or

                  (iv)     violate any statute, law or regulation of any
jurisdiction applicable to the transactions contemplated herein.

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         3.7      Actions and Proceedings. There is no outstanding order,
judgment, injunction, award or decree of any court, governmental or regulatory
body or arbitration tribunal against or involving BioMed. There is no action,
suit or claim or legal, administrative or arbitral proceeding or (whether or not
the defense thereof or liabilities in respect thereof are covered by insurance)
bankruptcy, criminal, civil or regulatory proceeding pending or threatened
against or involving BioMed or any of its properties or assets.

         3.8      Brokers or Finders. No broker's or finder's fee will be
payable by BioMed in connection with the transaction contemplated by this
Agreement, nor will any such fee be incurred as a result of any actions by
BioMed.

         3.9      Liabilities. BioMed does not have any direct or indirect
indebtedness, liability, claim, loss, damage, deficiency, obligation or
responsibility, known or unknown, fixed or unfixed, liquidated or unliquidated,
secured or unsecured, accrued or absolute, contingent or otherwise including,
without limitation, any liability on account of taxes, any other governmental
charge or lawsuit (all of the foregoing collectively defined to as
"Liabilities"), which were not fully, fairly and adequately reflected on the
November 30, 1997 Balance Sheet. As of the Closing Date, BioMed will not have
any Liabilities, other than Liabilities fully and adequately reflected on the
____________, 200___ Balance Sheet, except for Liabilities incurred in the
ordinary course of business.

         3.10     Operations of BioMed. Except as set forth on Schedule 3.10,
since ___________, 200____, and through the Closing Date hereof, BioMed has not
and will not have:

                  (i)      incurred any indebtedness for borrowed money;

                  (ii)     declared or paid any dividend or declared or made any
distribution of any kind to any shareholder, or made any direct or indirect
redemption, retirement, purchase or other acquisition of any shares in its
capital stock;

                  (iii)    made any loan or advance to any shareholder, officer,
director, employee, consultant, agent or other representative or made any other
loan or advance otherwise than in the ordinary course of business;

                  (iv)     except in the ordinary course of business, incurred
or assumed any indebtedness or liability (whether or not currently due and
payable);

                  (v)      disposed of any assets of BioMed except in the
ordinary course of business; or

                  (vi)     issued any equity securities or rights to acquire
such equity securities except as contemplated by the Stock Purchase Agreement.

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         3.11     Authority to Execute and Perform Agreements. BioMed has the
full legal right and power and all authority and approval required to enter
into, execute and deliver this Agreement and to perform fully its obligations
hereunder. This Agreement has been duly executed and delivered and is the valid
and binding obligation of BioMed enforceable in accordance with its terms,
except as may be limited by bankruptcy, moratorium, insolvency or other similar
laws generally affecting the enforcement of creditors' rights. The execution and
delivery of this Agreement and the consummation of the transactions contemplated
hereby and the performance by BioMed of this Agreement, in accordance with its
respective terms and conditions will not:

                  (i)      require the approval or consent of any governmental
or regulatory body, the shareholders of BioMed, or the approval or consent of
any other person;

                  (ii)     conflict with or result in any breach or violation of
any of the terms and conditions of, or constitute (or with any notice or lapse
of time or both would constitute) a default under, any order, judgment or decree
applicable to BioMed, or any instrument, contract or other agreement to which
BioMed is a party or by or to which BioMed is bound or subject; or

                  (iii)    result in the creation of any lien or other
encumbrance on the assets or properties of BioMed.

         3.12     Full Disclosure. No representation or warranty by BioMed in
this Agreement or in any document or schedule to be delivered by it pursuant
hereto, and no written statement, certificate or instrument furnished or to be
furnished to Sure or the Sure Shareholders pursuant hereto or in connection with
the execution or performance of this Agreement contains or will contain any
untrue statement of a material fact or omits or will omit to state any fact
necessary to make any statement herein or therein not materially misleading or
necessary to a complete and correct presentation of all material aspects of the
business of BioMed.

SECTION 4.  COVENANTS

         4.1      Corporate Examinations and Investigations. Prior to the
Closing Date, the parties acknowledge that they have been entitled, through
their employees and representatives, to make such investigation and verification
of the assets, properties, business and operations, books, records and financial
condition of the other, including communications with suppliers, vendors and
customers, as they each may reasonably require. No investigation by a party
hereto shall, however, diminish or waive in any way any of the representations,
warranties, covenants or agreements of the other party under this Agreement.
Consummation of this Agreement shall be subject to the fulfillment of due
diligence procedures to the reasonable satisfaction of each of the parties
hereto and their respective counsel.

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         4.2      Expenses. Each party hereto agrees to pay its own costs and
expenses incurred in negotiating this Agreement and consummating the
transactions described herein.

         4.3      Further Assurances. The parties shall execute such documents
and other papers and take such further actions as may be reasonably required or
desirable to carry out the provisions hereof and the transactions contemplated
hereby. Each such party shall use its best efforts to fulfill or obtain the
fulfillment of the conditions to the Closing, including, without limitation, the
execution and delivery of any documents or other papers, the execution and
delivery of which are necessary or appropriate to the Closing.

         4.4      Confidentiality. In the event the transactions contemplated by
this Agreement are not consummated, each of the parties hereto agree to keep
confidential any information disclosed to each other in connection therewith;
provided, however, such obligation shall not apply to information which:

                  (i)      at the time of disclosure was public knowledge;

                  (ii)     after the time of disclosure becomes public knowledge
(except due to the action of the receiving party); or

                  (iii)    the receiving party had within its possession at the
time of disclosure.

         4.5      Stock Certificates and Consideration. At the Closing, the Sure
Shareholders shall have delivered the certificates representing the Sure Shares
duly endorsed (or with executed stock powers) so as to make BioMed the sole
owner thereof. At such Closing, BioMed shall issue to the Sure Shareholders the
BioMed Shares as provided herein.

         4.6      Management of BioMed. On the Closing Date, the present
officers and directors of BioMed (and any other persons) shall resign as
officers and directors of BioMed and the directors and officers designated by
the Sure Shareholders shall be elected by BioMed.

SECTION 5.  SURVIVAL OF REPRESENTATIONS AND WARRANTIES OF BIOMED

         Notwithstanding any right of Sure and the Sure Shareholders fully to
investigate the affairs of BioMed, Sure and the Sure Shareholders shall have the
right to rely fully upon the representations, warranties, covenants and
agreements of BioMed contained in this Agreement or in any document delivered by
BioMed or any of its representatives, in connection with the transactions
contemplated by this Agreement. All such representations, warranties, covenants
and agreements shall survive the execution and

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delivery hereof and the Closing Date hereunder for twenty-four (24) months
following the Closing.

SECTION 6.  SURVIVAL OF REPRESENTATIONS AND WARRANTIES OF THE SURE SHAREHOLDERS

         Notwithstanding any right of BioMed fully to investigate the affairs of
Sure, BioMed has the right to rely fully upon the representations, warranties,
covenants and agreements of Sure and the Sure Shareholders contained in this
Agreement or in any document delivered to BioMed by the latter or any of their
representatives in connection with the transactions contemplated by this
Agreement. All such representations, warranties, covenants and agreements shall
survive the execution and delivery hereof and the Closing Date hereunder for
twenty-four (24) months following the Closing.

SECTION 7.  INDEMNIFICATION

         7.1      Obligation of BioMed to Indemnify. Subject to the limitations
on the survival of representations and warranties contained in Section 5, BioMed
hereby agrees to indemnify, defend and hold harmless Sure and the Sure
Shareholders from and against any losses, liabilities, damages, deficiencies,
costs or expenses (including interest, penalties and reasonable attorneys' fees
and disbursements) (a "Loss") based upon, arising out of or otherwise due to any
inaccuracy in or any breach of any representation, warranty, covenant or
agreement of BioMed contained in this Agreement or in any document or other
writing delivered pursuant to this Agreement.

         7.2      Obligation of Sure and the Sure Shareholders to Indemnify.
Subject to the limitations on the survival of representations and warranties
contained in Section 6, Sure and the Sure Shareholders agree to indemnify,
defend and hold harmless BioMed to the extent provided for herein, from and
against any Loss, based upon, arising out of or otherwise due to any inaccuracy
in or any breach of any representation, warranty, covenant or agreement made by
any of them and contained in this Agreement or in any document or other writing
delivered pursuant to this Agreement.

SECTION 8.  THE CLOSING

         The Closing shall take place simultaneously with the execution hereof.
At the Closing, the parties shall provide each other with such documents as may
be necessary or appropriate and customary in transactions of this sort in order
to consummate the transactions contemplated hereby including evidence of due
authorization of the Agreement and the transactions contemplated hereby.

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SECTION 9.  MISCELLANEOUS

         9.1      Waivers. The waiver of a breach of this Agreement or the
failure of any party hereto to exercise any right under this Agreement shall in
no event constitute waiver as to any future breach whether similar or dissimilar
in nature or as to the exercise of any further right under this Agreement.

         9.2      Amendment. This Agreement may be amended or modified only by
an instrument of equal formality signed by the parties or the duly authorized
representatives of the respective parties.

         9.3      Assignment. This Agreement is not assignable except by
operation of law.

         9.4      Notices. Until otherwise specified in writing, the mailing
addresses of both parties of this Agreement shall be as follows:

         SURE:                      SURE MEDICAL INCORPORATED

                                    -------------------------------------------

                                    -------------------------------------------

         SURE SHAREHOLDERS:         C/O [INSERT]

                                    -------------------------------------------

                                    -------------------------------------------

         BIOMED:                    BIOMED RESEARCH TECHNOLOGIES, INC.

                                    -------------------------------------------

                                    -------------------------------------------

Any notice or statement given under this Agreement shall be deemed to have been
given if sent by registered mail addressed to the other party at the address
indicated above or at such other address which shall have been furnished in
writing to the addressor.

         9.5      Governing Law. This Agreement shall be construed, and the
legal relations be the parties determined, in accordance with the laws of the
State of Florida, thereby precluding any choice of law rules which may direct
the application of the laws of any other jurisdiction.

         9.6      Publicity. No publicity release or announcement concerning
this Agreement or the transactions contemplated hereby shall be issued by either
party hereto at any time from the signing hereof without advance approval in
writing of the form and substance thereof by the other party.

                                       13
<PAGE>   14

         9.7      Entire Agreement. This Agreement (including the Exhibits and
Schedules hereto) and the collateral agreements executed in connection with the
consummation of the transactions contemplated herein contain the entire
agreement among the parties with respect to the purchase and issuance of the
Sure Shares and the BioMed Shares and related transactions, and supersede all
prior agreements, written or oral, with respect thereto.

         9.8      Headings. The headings in this Agreement are for reference
purposes only and shall not in any way affect the meaning or interpretation of
this Agreement.

         9.9      Severability of Provisions. The invalidity or unenforceability
of any term, phrase, clause, paragraph, restriction, covenant, agreement or
other provision of this Agreement shall in no way affect the validity or
enforcement of any other provision or any part thereof.

         9.10     Counterparts. This Agreement may be executed in any number of
counterparts, each of which when so executed, shall constitute an original copy
hereof, but all of which together shall consider but one and the same document.

                                       14
<PAGE>   15

         IN WITNESS WHEREOF, the parties have executed this Agreement on the
date first above written.

                                  BIOMED RESEARCH TECHNOLOGIES, INC.

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

                                                            , President
                                           -----------------

                                  SURE MEDICAL INCORPORATED

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

                                                            , President
                                           -----------------

                                  SHAREHOLDERS: [TO BE INSERTED]

                                  -------------------------------------
                                  Dr. William Stafford

                                  -------------------------------------

                                  -------------------------------------

                                  -------------------------------------

                                  -------------------------------------

                                       15
<PAGE>   16

                                    EXHIBIT A

                     EXCHANGE WITH SURE MEDICAL INCORPORATED

<TABLE>
<CAPTION>
                                    Shares of                       Shares of
Name of                             Sure to be                      BioMed to
Shareholder                         Exchanged                       be Received
-----------                         ---------                       -----------

<S>                                 <C>                             <C>

Grand Total
                                       =========
</TABLE><PAGE>   1

                                                                    EXHIBIT 10.3

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT (this "Agreement") is entered into as of the day set
forth below, by and between Dunhill Medinet Worldwide, Inc. a Delaware
corporation (COMPANY), and AHMAD MORADI, Ph.D. C.D.P. or his corporate
assignee(s) jointly, (hereinafter referred to as "EMPLOYEE").

                                    RECITALS

         WHEREAS, COMPANY does cutting edge research in the biomedical field of
which EMPLOYEE is a principal shareholder and,

         WHEREAS, COMPANY desires to employ EMPLOYEE and EMPLOYEE desires to
serve the COMPANY as the COMPANY's CEO, President and,

         WHEREAS, EMPLOYEE's services for and on behalf of the COMPANY are of
material importance to the enhancement of the value of the COMPANY's business.

         NOW, THEREFORE, in consideration of the premises and mutual covenants
herein set forth, and for other good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, the COMPANY and EMPLOYEE do hereby
agree as follows:

         I.       EMPLOYMENT

                  COMPANY hereby employs EMPLOYEE in its business as CEO and
                  EMPLOYEE hereby accepts such employment, all upon the terms
                  and conditions hereinafter set forth.

         II.      TERM

                  Unless sooner terminated pursuant to the provisions of this
                  Agreement the term of employment under this Agreement shall be
                  for a five (5) years commencing January 1, 1999 ("Employment
                  Period"). The Employment Period shall be automatically renewed
                  for succeeding terms of one (1) year ("Successive Employment
                  Period") unless either party gives written notice of his
                  intention not to renew said Agreement to the other party, at
                  least one-hundred-eighty (180) days prior to the end of the
                  initial five-year term, or any extended term.

         III.     DUTIES

                                       1
<PAGE>   2

                  III.1    During the Employment Period EMPLOYEE shall serve in
                           the Office of CEO, President and perform appropriate
                           executive services for the COMPANY in accordance with
                           the historical nature and scope of duties performed
                           by EMPLOYEE as CEO, President of Dunhill-Medinet
                           Worldwide, Inc.

                  III.2    EMPLOYEE shall be entitled to make ALL normal
                           executive level management decisions of the COMPANY
                           that involve matters within the COMPANY's usual
                           course of business and are duties customary for the
                           employee in his or her capacity of CEO, and
                           President. EMPLOYEE's authority to manage the COMPANY
                           shall be subject to review and direction from his or
                           her immediate manager, if any, or by the Board of
                           Directors of the Company. Compensation paid to
                           employees of the COMPANY shall be at industry
                           standards. Bonuses, if any, for said employees shall
                           be based on the individual employee's performance and
                           tied to a formula adopted by the COMPANY's Board of
                           Directors.

                  III.3    During the term of this Agreement, although EMPLOYEE
                           is involved in managing other businesses, EMPLOYEE
                           shall devote primarily majority of his time, energy,
                           and skill to the service of the COMPANY and the
                           promotion of COMPANY'S interests, and shall use his
                           best efforts in the performance of his services
                           hereunder. EMPLOYEE agrees to abide by all rules and
                           regulations established from time to time by the
                           Board; and all commissions, fees or other income
                           earned and received by EMPLOYEE, if any, in
                           furtherance of the business of Company, or its ns
                           affiliates or from any other business or financial
                           opportunity or endeavor in which EMPLOYEE is an
                           active participant and not a passive investor, shall
                           be accepted by EMPLOYEE for the account of Company,
                           and shall be remitted to Company within three (3)
                           days of EMPLOYEE's receipt thereof.

                  III.4    EMPLOYEE may, if elected, without additional
                           compensation, unless expressly approved by the Board
                           of Directors of the COMPANY, serve as a director of
                           the COMPANY.

                  III.5    The services of EMPLOYEE shall be rendered in such
                           places and localities as the COMPANY may require from
                           time to time, and he shall do such traveling on
                           behalf of the COMPANY as may reasonably be required
                           consistent with the historical requirements of the
                           office of CEO, President of the COMPANY.

                  III.6    EMPLOYEE shall comply with all COMPANY policies for
                           the employees; as such policies may exist from time
                           to time.

         IV.      COMPENSATION

                                       2
<PAGE>   3

                  IV.1     The COMPANY will compensate and pay EMPLOYEE for his
                           services during the term of this Agreement a base
                           salary of $250,000 per year ("Base Salary"). The Base
                           Salary shall be paid to EMPLOYEE at no less than
                           monthly intervals in accordance with the current
                           normal payroll policies of which policies may be
                           changed by COMPANY from time to time with inclusion
                           of cost of living adjustment on a mutually acceptable
                           terms. All compensation paid to EMPLOYEE shall be
                           subject to all appropriate withholding taxes.

                  IV.2     EMPLOYEE shall be entitled to a bonus annually equal
                           to no less than one and a half (1.5%) percent of the
                           net profits of the COMPANY calculated without taking
                           into account any kind of distribution to the
                           subsidiaries of the COMPANY. Net Profits shall be
                           defined according to Generally Accepted Accounting
                           Principles. EMPLOYEE may elect to take this bonus in
                           any combination of cash and stock. Computation of
                           stock is based on the Board of Directors approved
                           Stock Option Plan.

                  IV.3     Compensation for each Successive Employment Period
                           shall be determined, within thirty (30) days of the
                           expiration of the Employment Period or each
                           Successive Employment Period, through good faith
                           negotiations between COMPANY and EMPLOYEE. Should the
                           parties hereto fail to agree upon a mutually
                           acceptable compensation package, the compensation in
                           effect for the immediately proceeding period shall
                           continue until the parties hereto agree on its
                           modification.

         V.       DEATH

                  V.1      In the event of the death of EMPLOYEE during the term
                           of this Agreement, COMPANY shall pay to the Estate of
                           EMPLOYEE the amount to which EMPLOYEE would have been
                           entitled to receive for the lesser of (a) salary for
                           the remaining of five (5) year period, or (b) salary
                           for the remaining period of this Agreement; in
                           regular monthly payments for the term that remains on
                           this Agreement to commence three (3) months after the
                           death of EMPLOYEE.

                  V.2      There shall be deducted from the amounts paid to
                           EMPLOYEE pursuant to Section 4.1, above, the amount
                           actually paid to EMPLOYEE's designated beneficiary,
                           as proceeds of life insurance, if any, which the
                           COMPANY may have instituted on behalf of EMPLOYEE, as
                           set forth under Section 9.1.2 (the "Term of The
                           Insurance").

                                       3
<PAGE>   4

         VI.      DISABILITY

                  VI.1     In the event of disability of EMPLOYEE (whether
                           temporary or permanent) to render services hereunder
                           during the term hereof, and so long as such
                           disability continues, EMPLOYEE shall continue to
                           receive his full compensation during the period of
                           such disability for a remaining unpaid period of this
                           Agreement, or until the termination of this Agreement
                           as defined in Section 11.1.4 herein, whichever first
                           occurs.

                  VI.2     There shall be deducted, from the amounts paid to
                           EMPLOYEE hereunder during any period of disability,
                           any amounts actually paid to EMPLOYEE pursuant to any
                           disability insurance or other similar program, which
                           the COMPANY has instituted or may institute on behalf
                           of its employees.

         VII.     PARTICIPATION IN PLANS AND BENEFITS

                  VII.1    During the term of this Agreement, EMPLOYEE will be
                           entitled to participate in and receive the benefits
                           of all plans, benefits and privileges given to
                           employees and executives of the COMPANY, whether now
                           established or granted or which may come into
                           existence hereafter, including, without limitation,
                           the following:

                           VII1.1   COMPANY agrees to provide medical and dental
                                    services or reimbursement for such expenses
                                    to EMPLOYEE and or members of his immediate
                                    family. Such medical plan shall be
                                    comparable to the benefits provided under a
                                    comprehensive medical plan approved by the
                                    Board of Directors.

                           VII1.2   Upon the Board of Directors approval,
                                    COMPANY agrees to secure term life insurance
                                    on the life of EMPLOYEE, which is in effect
                                    at the time of execution of this Agreement.
                                    COMPANY agrees to pay all premiums on the
                                    policy during the term of employment
                                    provided herein. The term of life insurance
                                    should equate no less than three (3) times
                                    the EMPLOYEE's annual salary.

                           VII1.3   Upon the Board of Directors approval, the
                                    COMPANY shall continue disability insurance
                                    for EMPLOYEE, which is in effect at the time
                                    of execution of this Agreement, and which
                                    shall remain in effect during the term of
                                    this Agreement.

                           VII1.4   EMPLOYEE shall be entitled to a two (2) week
                                    of annual vacation without reduction of
                                    EMPLOYEE's compensation. EMPLOYEE shall be
                                    entitled to such additional time of not less
                                    than seven (7) non-consecutive

                                       4
<PAGE>   5

                                    days per annum without loss of compensation
                                    for attendance at meetings, conventions, and
                                    postgraduate courses as the Board of
                                    Directors of COMPANY shall, from time to
                                    time determine. Vacation days must be used
                                    during the calendar year and may not be
                                    accumulated. Each year of employment shall
                                    add an additional week of paid vacation,
                                    which shall not exceed six (6) weeks.

                           VII1.5   EMPLOYEE shall be entitled to twelve (12)
                                    non-consecutive days per annum absence due
                                    to sickness without reduction of EMPLOYEE's
                                    compensation. Sick days must be used during
                                    the calendar year and may not be
                                    accumulated.

                           VII1.6   EMPLOYEE shall also receive such other
                                    benefits, fringe benefits and entitlements
                                    as is usual and customary for COMPANY to
                                    supply an EMPLOYEE of like status and
                                    position according to Company's established
                                    policies on employment, as can be reasonably
                                    provided, and consistent with the term of
                                    employment contemplated under this
                                    Agreement.

                           VII1.7   In the event that the parties do not reach
                                    agreement on a successor employment
                                    agreement on such terms that are mutually
                                    agreeable, and as a result of the Employee
                                    ceases to be employed by the company, the
                                    Company shall pay the Employee severance pay
                                    equal to the Employee's base salary and
                                    company performance adjustment due pursuant
                                    to this Agreement for a period of 36 months
                                    after the employee leaves the Company's
                                    employ.

                           VII1.8   In the event that EMPLOYEE is terminated
                                    without cause and as a result the Employee
                                    ceases to be employed by the company, the
                                    Company shall pay the Employee severance pay
                                    equal to the Employee's base salary and
                                    company performance adjustment due pursuant
                                    to this Agreement for a period of 36 months
                                    after the employee leaves the Company's
                                    employ.

         IVII.    EXPENSES

                  The COMPANY shall reimburse EMPLOYEE or otherwise provide for
                  or pay for all reasonable expenses incurred by EMPLOYEE in
                  furtherance or in connection with the business of the COMPANY
                  and its subsidiaries, including, without limitation,
                  automobile and traveling expenses, and all reasonable
                  entertainment expenses. EMPLOYEE agrees that he will furnish
                  the COMPANY'S adequate records and other documents bearing
                  evidence required by state and federal statutes and

                                       5
<PAGE>   6

                  regulations issued by the appropriate taxing authorities for
                  the substantiation of each such business expense as a
                  deduction on the federal and state income tax returns of the
                  COMPANY. If EMPLOYEE pays for such expenses in the first
                  instance, the COMPANY will reimburse him. The Company shall
                  issue to the Employee a corporate American Express card for
                  use in connection with expenses incurred in connection with
                  the performance of this Agreement.

         IX.      TERMINATION

                  IX.1     COMPANY SHALL HAVE THE ABSOLUTE RIGHT TO TERMINATE
                           THIS AGREEMENT ON THE OCCURRENCE OF ANY OF THE
                           FOLLOWING EVENTS:

                           IX1.1    Whenever COMPANY and EMPLOYEE shall MUTUALLY
                                    agree to terminate in writing.

                           IX1.2    Whenever the Board of Directors of COMPANY
                                    determines that cause (as defined in Section
                                    11.4 herein) exists for the termination of
                                    EMPLOYEE or COMPANY allows EMPLOYEE to
                                    resign in lieu of termination.

                           IX1.3    Upon the death of EMPLOYEE.

                           IX1.4    If EMPLOYEE shall suffer temporary or
                                    permanent disability. For purposes of this
                                    Agreement, "Disability" shall be defined as
                                    EMPLOYEE's inability, through physical or
                                    mental illness or other cause, to perform
                                    the majority of his usual duties for a
                                    period of six (6) months, or as may be
                                    defined in a valid disability insurance
                                    policy, whichever definition is less
                                    restrictive.

                           IX1.5    Upon the retirement of EMPLOYEE at age of
                                    Seventy (70) or at any age thereafter.

                           IX1.6    Inability to perform assigned duties as
                                    defined and expected by the Company's Board
                                    of Directors.

                  IX.2     EMPLOYEE shall have the absolute right to terminate
                           this Agreement upon thirty (30) days prior written
                           notice by EMPLOYEE to the COMPANY.

                  IX.3     Upon termination for any of the foregoing causes,
                           EMPLOYEE shall be entitled to receive only the
                           compensation accrued, but unpaid, as of the date

                                       6
<PAGE>   7

                           of termination and shall not be entitled to
                           additional compensation except as expressly provided
                           in this Agreement under Sections VII, VIII, and XIV.

                  IX.4     The Company may immediately terminate this Agreement
                           for just cause by written notice to the Employee for
                           any of the following reasons: theft, fraud,
                           embezzlement, dishonesty, or any material breach of
                           this Agreement. In the event that the Company
                           terminates the Employee for just cause the Company
                           shall not be liable to make any further payments
                           under this Agreement except for amounts due at the
                           time of such termination.

                  IX.5     The Company may terminate this Agreement without
                           cause upon thirty (30) day written notice to the
                           EMPLOYEE. In the event of a without cause termination
                           by the Company, the EMPLOYEE shall receive his salary
                           and all other benefits provided herein for the
                           duration of the Agreement. In addition, the EMPLOYEE
                           shall thereafter receive severance benefits in
                           accordance with Section 9.1.8.

         VIII.    BUSINESS RECORDS; SURRENDER

                  VIII.1   All business and financial records pertaining to
                           customers of the COMPANY, including but not limited
                           to books, software, records, memoranda, orders,
                           invoices, list of customers, billings and payment of
                           billings and all records pertaining to compensation
                           and expenses of EMPLOYEE within the scope of
                           employment shall at all times be the property of the
                           COMPANY.

                  VIII.2   Upon the termination of the EMPLOYEE's employment
                           hereunder, for any reason whatsoever, and in addition
                           to such other actions as may be reasonably required
                           by Employer, the EMPLOYEE agrees to surrender to the
                           Employer, in good condition, any record or records
                           kept by him containing the names, addresses, and
                           other information with regard to customers or
                           potential customers of Employer which have been
                           served or solicited by the Employee.

         IX.      MERGER, TRANSFER, DISSOLUTION OR CHANGE OF CONTROL

                  IX.1     Except as provided in Section XIV, this Agreement
                           shall not be terminated by:

                           IX.1.1   merger or consolidation where COMPANY is not
                                    the consolidated or surviving corporation;

                                       7
<PAGE>   8

                           IX.1.2   transfer of all or substantially all of the
                                    assets of COMPANY;

                           IX.1.3   change of control of COMPANY as described in
                                    Section 14.1;

                           IX.1.4   in the event, EMPLOYEE may elect at his/her
                                    own option to terminate this agreement
                                    within thirty (30) days written advanced
                                    notice.

                           In the event of any such merger, consolidation,
                           transfer of assets or change of control of COMPANY,
                           the surviving or resulting corporation or the
                           transferee of COMPANY's assets shall be bound by, and
                           shall have the benefit of, the provisions of this
                           Agreement.

         X.       CHANGE IN CONTROL

                  X.1      Notwithstanding anything contained in this Agreement
                           to the contrary, for the purposes of this Agreement,
                           a "change in control of COMPANY" shall mean the
                           occurrence of any of the following events:

                           X.1.1    any "person" (as that term is used in
                                    Sections 13(d) and 14(d) of the Securities
                                    Exchange Act of 1934, as amended ("Exchange
                                    Act")), who holds less than 20% of the
                                    combined voting power of the securities of
                                    the COMPANY, becomes the "beneficial owner"
                                    (as defined in Rule 13d-3 under the Exchange
                                    Act), directly or indirectly, of securities
                                    of COMPANY representing twenty-five percent
                                    or more of the combined voting power of the
                                    securities of COMPANY then outstanding; or

                           X.1.2    during any period of twenty-four (24)
                                    consecutive months, individuals who at the
                                    beginning of such period constitute all
                                    members of the Board of Directors of COMPANY
                                    shall cease, for any reason, to constitute
                                    at least a majority of the Directors, unless
                                    the election of each Director who was not a
                                    Director at the beginning of the period was
                                    approved by a vote of at least two-thirds of
                                    the Directors then still in office who were
                                    Directors at the beginning of the period; or

                           X.1.3    COMPANY shall consolidate or merger with
                                    another company and COMPANY is the
                                    continuing or surviving corporation, or
                                    shares of COMPANY's common stock are
                                    converted into cash, securities, or other
                                    property, other than a merger of COMPANY in
                                    which the

                                       8
<PAGE>   9

                                    holders of the COMPANY's common stock
                                    immediately prior to the merger have the
                                    same proportionate ownership of common stock
                                    of the surviving corporation immediately
                                    after the merger as they had in COMPANY
                                    immediately prior to the merger; or

                           X.1.4    COMPANY shall sell, lease, exchange, or
                                    otherwise transfer all or substantially all
                                    of its assets (in one transaction or in a
                                    series of related transactions); or

                           X.1.5    the stockholders of COMPANY shall approve a
                                    plan or proposal for the liquidated or
                                    dissolution of COMPANY.

                  X.2      EMPLOYEE shall have the right to resign from the
                           employ of COMPANY at any time after a change in
                           control of COMPANY. If EMPLOYEE resigns within two
                           years of such a change in control, he shall be
                           entitled to the payment provided in Section 14.3.

                  X.3      If EMPLOYEE resigns from the employ of COMPANY within
                           two years of a change in control of COMPANY, or if
                           COMPANY terminates this Agreement after a change in
                           control of COMPANY for any reason other than
                           substantial cause, then the following provisions of
                           this Section X shall apply:

                           X.3.1    in lieu of any further salary payments to
                                    EMPLOYEE for periods subsequent to the date
                                    of the termination of his employment,
                                    COMPANY shall pay to EMPLOYEE, in a lump sum
                                    and in cash, as liquidated damages, an
                                    amount equal to the sum of:

                                    (i)      the greater of (I) three years'
                                             base salary, or (II) the base
                                             salary due to EMPLOYEE for the
                                             remaining term of this Agreement,
                                             in either case at the greater of
                                             the rate in effect at the date of
                                             the change in control of COMPANY or
                                             at the date of termination; plus

                                    (ii)     an amount equal to a multiple of
                                             two (2) times the largest total of
                                             the bonuses previously paid in any
                                             one year by COMPANY to EMPLOYEE
                                             pursuant to the provisions of
                                             Section 4.2 hereof.

                           X.3.2    COMPANY shall maintain in full force and
                                    effect until the expiration of the term of
                                    this Agreement, at its expense, all group
                                    insurance and other employee benefit plans
                                    (including, without limitation, qualified

                                       9
<PAGE>   10

                                    profit-sharing and retirement type plans) in
                                    which EMPLOYEE was entitled to participate
                                    prior to the date of his termination,
                                    provided that EMPLOYEE's continued
                                    participation is possible under the terms of
                                    such plans. If EMPLOYEE's continued
                                    participation under such plans is not
                                    possible, COMPANY shall arrange to provide
                                    EMPLOYEE with alternative benefits
                                    substantially similar to those provided
                                    under the group insurance and employee
                                    benefit plans of COMPANY in which EMPLOYEE
                                    was participating prior to the date of his
                                    termination.

                           Any payment due to EMPLOYEE pursuant to the
                           provisions of this Section 14.3 shall be paid to him
                           by COMPANY on the fifth day following the date of
                           EMPLOYEE's termination.

                  X.4      For purposes of the remaining provisions of this
                           Section XIV the following terms shall have the
                           following meanings:

                           X.4.1    The term "Code" shall mean the Internal
                                    Revenue Code of 1986, as amended; and any
                                    references to sections thereof shall include
                                    any successor provisions of the Code or of
                                    any future income tax laws enacted as
                                    successors to the Code;

                           X.4.2    The term "Excise Tax" shall mean the tax
                                    imposed by Section 4999 of the Code;

                           X.4.3    The term "Gross-Up Payment" shall mean the
                                    payment referred to in subsection (e) of
                                    this Section XII.

                           X.4.4    The term "Section XIV Payments" shall mean
                                    all payments to which EMPLOYEE shall become
                                    entitled under the provisions of this
                                    Section XII.

                           X.4.5    The term "Other Payments" shall mean any
                                    payments or benefits, other than the Section
                                    XIV Payments, received or to be received by
                                    EMPLOYEE in connection with a change in
                                    control of COMPANY, or in connection with
                                    EMPLOYEE's termination of employment, and
                                    which are payable pursuant to the terms of
                                    any plan, arrangement, or agreement (other
                                    than this Agreement) with COMPANY, with
                                    COMPANY's successors, with any person whose
                                    actions result in a change in control of
                                    COMPANY, or with any person affiliated
                                    either with COMPANY or with any person whose
                                    actions result in a change in control of
                                    COMPANY.

                  X.5      If EMPLOYEE becomes entitled to any payments under
                           this Section XIV and if the Section XIV Payments or
                           any Other Payments will be subject to the Excise Tax,
                           then COMPANY shall pay to EMPLOYEE an additional sum
                           (the "Gross-Up

                                       10
<PAGE>   11

                           Payment") sufficient to provide EMPLOYEE with a net
                           amount equal to the sum of the Section XIV and the
                           Other Payments, after deduction of any Excise Tax on
                           such Payments and after deduction of any federal,
                           state, or local income taxes, and of any Excise Tax,
                           upon the Gross-Up Payment. The amount due from
                           COMPANY under this Section 14.5 shall be paid to
                           EMPLOYEE within five days of the date of EMPLOYEE's
                           termination.

                  X.6      The following rules shall apply for the purpose of
                           determining whether any of the Section XIV Payments
                           or any of the Other Payments will be subject to the
                           Excise Tax and for the purpose of computing the
                           amount of any such Excise Tax:

                           X.6.6    The value of any benefits payable to
                                    EMPLOYEE in any form other than cash, and
                                    the value of any deferred payments or
                                    benefits due to EMPLOYEE from COMPANY, shall
                                    be determined by COMPANY's independent
                                    auditors in accordance with the provisions
                                    of Section 280G(d)(3) of the Code.

                  X.7      For purpose of determining the amount of the Gross-Up
                           Payment:

                           X.7.1    EMPLOYEE shall be deemed to be subject to
                                    state and local income taxes at the highest
                                    marginal rate of taxation in the state and
                                    locality of EMPLOYEE's principal residence
                                    on the date of his termination; and

                           X.7.2    EMPLOYEE shall be deemed to be subject to
                                    federal income taxes at the highest marginal
                                    rate of federal income taxation in the
                                    calendar year in which the Gross-Up Payment
                                    is due (net of the maximum reduction in
                                    federal income taxes which EMPLOYEE can
                                    obtain from deduction of the state and local
                                    taxes described in the preceding clause).

                  X.8      If the Excise Tax is determined to exceed the amount
                           taken into account under the provisions of this
                           Section XIV at the time of the termination of
                           EMPLOYEE (including by reason of any payment, the
                           existence or the amount of which could not be
                           determined at the time of the Gross-Up Payment),
                           COMPANY shall make an additional Gross-Up Payment in
                           respect of such excess and in respect of any interest
                           payable with respect to such excess, at the time that
                           the amount of such excess is finally determined.

                           X.8.1    EMPLOYEE shall not be required to mitigate
                                    the amount of any payment provided for in
                                    this Section XIV by seeking other employment
                                    or otherwise; and the amount of any payment
                                    provided for in this Section XIV shall not
                                    be reduced by any compensation earned by
                                    EMPLOYEE, either as the result of employment
                                    by any other employer

                                       11
<PAGE>   12

                                    after the date of his termination of
                                    employment with COMPANY or otherwise.

         XI.      COMPANY'S AUTHORITY

                  EMPLOYEE agrees to observe and comply with the rules and
                  regulations of COMPANY as adopted by COMPANY's Board of
                  Directors, which are not inconsistent with his sole discretion
                  to manage the operations of the COMPANY, communicated in
                  writing, respecting performance of his duties, and to carry
                  out and perform orders, directions, and policies stated by
                  COMPANY to him, from time to time, communicated in writing.

        XII.      INDEMNIFICATION OF LOSSES OF EMPLOYEE

                  COMPANY shall, to the maximum extent permitted by law,
                  indemnify EMPLOYEE against expenses (including reasonable
                  attorney's fees), judgments, fines, settlements, and other
                  amounts actually and reasonably incurred in connection with
                  any proceedings arising by reason of the fact that EMPLOYEE
                  is, or was, an employee, officer or agent of COMPANY. COMPANY
                  shall advance to EMPLOYEE expenses incurred in defending any
                  such proceedings to the maximum extent permitted by law.
                  COMPANY's obligations under this Section shall not cease upon
                  termination of this Agreement. EMPLOYEE may select legal
                  counsel, at his sole discretion, to represent him in any such
                  proceedings.

         XIII.    MISCELLANEOUS

                  XIII.1   Any and all notices, demands, requests or other
                           communication required or permitted by this Agreement
                           or by law to be served on, given to, or delivered to
                           any party hereto by any other party to this Agreement
                           shall be in writing and shall be deemed duly served,
                           given, or delivered when personally delivered to the
                           COMPANY or to an officer of the COMPANY, or in lieu
                           of such personal delivery, when deposited, in the
                           United States mail, registered or certified mail,
                           addressed to the COMPANY, at the address of its
                           principal office located at 10150 Highland Manor
                           Drive, Suite 200, Tampa, FL 33610 or to the EMPLOYEE
                           at the address then appearing for him on the books
                           and records of the COMPANY. The COMPANY may change
                           the address of its principal office in the manner
                           required by law for purposes of this paragraph by
                           giving notice to the change, in the manner required
                           by this paragraph, to the respective parties.

                                       12
<PAGE>   13

                  XIII.2   Notwithstanding anything to the contrary contained
                           herein, the payment or obligation to pay any money,
                           or granting of any rights or privileges, to the
                           EMPLOYEE as provided in this Agreement shall not be
                           in lieu or in derogation of the rights and privileges
                           that the EMPLOYEE now has under any plan or benefit
                           presently outstanding.

                  XIII.3   This Agreement may not be modified, changed, amended,
                           or altered except in writing signed by the EMPLOYEE
                           or his duly authorized representative, and by a duly
                           authorized officer of the COMPANY.

                  XIII.4   This Agreement shall be interpreted in accordance
                           with the laws of the State of Florida without
                           application of its conflict of law provisions. It
                           shall inure to the benefit of and be binding upon the
                           COMPANY, and its successors and assigns.

                  XIII.5   EMPLOYEE shall not assign his rights and/or
                           obligations hereunder.

                  XIII.6   Should any litigation be commenced between the
                           parties to this Agreement concerning any provision of
                           this Agreement, the party prevailing in such
                           litigation shall be entitled, in addition to such
                           other relief as may be granted, to a reasonable sum
                           as and for his attorney's fees in such litigation
                           which shall be determined by the Court in such
                           litigation or in a separate action brought for that
                           purpose.

                  XIII.7   An original copy of this Agreement duly executed by
                           the COMPANY and by the EMPLOYEE shall be delivered to
                           the governing body of the COMPANY and be maintained
                           by it at the principal office of COMPANY available
                           for inspection only by consent of the EMPLOYEE.

                  XIII.8   Should any provision or portion of this Agreement be
                           held unenforceable or invalid for any reason, the
                           remaining provisions and portions of this Agreement
                           shall be unaffected by such holding, subject to such
                           invalidity not rendering the balance of the Agreement
                           to be inconsistent with the original intent of the
                           parties as evidenced by the terms of this Agreement.

                  XIII.9   This instrument constitutes the entire understanding
                           and Agreement of the parties hereto respecting the
                           subject of this Agreement and supersedes all prior
                           agreements, promises, negotiations, or
                           representations (if any) concerning its subject
                           matter not expressly set forth in this Agreement are
                           of no force and effect.

                                       13
<PAGE>   14

                  XIII.10  This Agreement and any certificates made pursuant
                           hereto, may be executed in any number of counterparts
                           and when so executed all of such counterparts shall
                           constitute a single instrument binding upon all
                           parties hereto notwithstanding the fact that all
                           parties are not signatory to the original or to the
                           same counterpart.

                  XIII.11  This Article and Section headings used in this
                           Agreement are for reference purposes only, and should
                           not be used in construing this Agreement.

                  XIII.12  As used in this Agreement, the masculine gender shall
                           include the feminine and neuter, and singular number
                           shall include the plural, and vice versa.

                  XIII.13  Time is of the essence of this Agreement.

                  XIII.14  The Effective Date of this Agreement commences on
                           January 1st, 1999.

                  XIII.15  The failure or delay of Company at any time to
                           require performance by EMPLOYEE of any provision of
                           this Agreement, even if known, shall not affect the
                           right of COMPANY to require performance of that
                           provision or to exercise any right, power or remedy
                           hereunder, and any waiver by COMPANY of any breach of
                           any provision of this Agreement should not be
                           construed as a waiver of any continuing or succeeding
                           breach of such provision, a waiver of the provision
                           itself, or a waiver of any right, power ore remedy
                           under this Agreement. No notice to or demand on
                           Employee in any case shall, of itself, entitle such
                           party to any other or further notice or demand in
                           similar or other circumstances.

                  XIII.16  EMPLOYEE acknowledges that the services to be
                           rendered by EMPLOYEE hereunder are extraordinary and
                           unique and are vital to the success of the COMPANY,
                           and that damages at law would be an inadequate remedy
                           for any breach of threatened breach of this Agreement
                           by Employee. Therefore, in the event of a breach or
                           threatened breach by EMPLOYEE of any provision of
                           this Agreement, then COMPANY shall be entitled, in
                           addition to all rights or remedies, to injunctions
                           restraining such breach, without being required to
                           show any actual damage or to post any bond or other
                           security.

                  XIII.17  The parties acknowledge that a substantial portion of
                           negotiations, anticipated performance and execution
                           of this Agreement occurred or shall occur in Broward
                           County, Florida, and that, therefore, without
                           limiting the jurisdiction or venue or any other
                           federal or state courts, each of the parties
                           irrevocably and unconditionally (a) agrees that any
                           suit, action or legal proceeding arising out of or
                           relating to this Agreement may be brought in the
                           courts or records of the State of Florida in Broward
                           County or the court of the United States, Southern
                           District of Florida; (b) consents to the jurisdiction
                           of each such court in any such suit, action or
                           proceeding; (c) waives any objection which it may
                           have to

                                       14
<PAGE>   15

                           the laying of venue of any such suit, action or
                           proceeding in any such courts; and (d) agrees that
                           service of any court paper may be effected on such
                           party by mail, as provided in this Agreement, or in
                           such other manner as may be provided under applicable
                           laws or court rules in said state.

                  XIII.18  Notwithstanding anything to the contrary herein, the
                           provisions of Sections V, VI, XII, XIII, XIV, and XVI
                           shall survive and remain in effect in accordance with
                           their respective terms in the event employment is
                           terminated.

         IN WITNESS WHEREOF, the parties have executed this Agreement the day
and year as set forth below.

         Employee Name: Ahmad Moradi, Ph.D.                   Date: 01/01/1999
                                           ----------

         Employee Signature:
                            -------------------------

         Company Authorized Officer name: Ahmad Moradi, Ph.D. Date: 01/01/1999

         Signature:
                   ----------------------------------

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