Document:

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                                                                    Exhibit 10.3

EUROPE

                                   CAMTEK LTD.

                           EMPLOYEE SHARE OPTION PLAN

1.     DEFINITIONS

       As used herein the following terms shall have the meanings hereinafter
       set forth, unless the context clearly indicates to the contrary.

       (A)    the "COMPANY" - Camtek Ltd.

       (B)    "BOARD" - the Board of Directors of the Company.

       (C)    "SHARE(S)" - Ordinary Shares of the Company, each with a par value
              of NIS 0.01.

       (D)    "OPTION(S)" - an Option or Options granted within the framework of
              this Plan each of which imparts the right to purchase one Share
              per Option.

       (E)    "GRANTEE" - an employee of the Company or a subsidiary of the
              Company to whom Options are granted or to whom the Company decides
              to grant Options.

       (F)    "PLAN" - the Company's Employee Share Option Plan as provided
              hereunder, and as may be amended from time to time by the Board,
              as set forth hereinbelow.

       (G)    "OPTION AGREEMENT" - the Agreement to be executed between the
              Company and the Grantee under which Option(s) are to be granted.

       (H)    "VESTED OPTION(S)" - that portion of the Options which the Grantee
              is entitled to exercise in accordance with the provisions of
              Section 7.2 of the Plan or the provisions of the Option Agreement
              executed with such Grantee.

       (I)    the "EXERCISE PERIOD" - the period during which the Vested Options
              may be exercised, as provided in Section 7.3 of the Plan.

       (J)    "EXERCISE PRICE" - the price which the Grantee must pay to
              exercise each Option.

       (K)    "EXERCISED SHARES" - the Shares issued upon the exercise of the
              Options.

       (L)    the "TRUSTEE" - the custodian appointed by the Company for the
              purposes of this Plan.

2.     THE PLAN

       2.1    PURPOSE - The purpose and intent of the Plan is to grant to
              selected employees of the Company and of the Company's
              subsidiaries, an opportunity to purchase Shares of the Company by
              way of granted Options and to provide an additional incentive to
              such employees to remain in the employ of the Company and the
              Company's subsidiaries, to encourage the sense of proprietorship
              of such employees, and to

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              stimulate the active interest of such employees in the success of
              the Company and the Company's subsidiaries.

       2.2    EFFECTIVE DATE - The Board has resolved to adopt and authorize the
              Plan and has resolved that it shall enter into effect commencing
              1.9.97.

3.     ADMINISTRATION

       3.1    The Plan shall be administered by the Board or by a committee
              appointed by the Board.

       3.2    The Board shall have sole and full discretion and sole authority
              to administer the Plan and all actions related thereto, including
              to perform any and all of the following from time to time and at
              any time:

              3.2.1  to determine the Company's and the Company's subsidiaries'
                     employees in favor of whom the Options shall be granted,
                     the number of Options to be granted in favor of each
                     employee, the Exercise Price thereof, and the conditions
                     under which such Options may be exercised;

              3.2.2  to interpret the Plan;

              3.2.3  to determine the terms of the Option Agreements;

              3.2.4  to perform any action required or advisable for the
                     administration of the Plan;

              3.2.5  to prescribe, amend, modify (including by adding new terms
                     and rules), and to rescind and terminate the Plan or any of
                     its terms.

       3.3    Any amendment or modification of the Plan, if any, shall be
              applicable to the relationship between the Grantee and the
              Company, including under the Option Agreements and the amendment
              or modification shall be deemed to have been included in the Plan
              and the Option Agreements, ab initio, unless the amendment or
              modification adversely affects the rights of a Grantee under the
              Vested Options.

4.     ELIGIBILITY

              In determining the employees in favor of whom Options are to be
              granted, the number of Options to be granted and the terms of the
              Options, the Board may take into account the nature of the
              services rendered by the respective employee, his present and
              future potential and contribution to the Company's and Company's
              subsidiaries' success, and any other data the Board may deem
              relevant.

5.     RESERVED SHARES

       The total number of Options to be granted to the Grantees pursuant to the
       Plan shall be determined from time to time by the Board.

       The Company shall at all times reserve such number of authorized but
       unissued Shares which equals the number of Shares to which all of the
       then outstanding Options may be converted upon exercise.

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                                       3

6.     GRANT OF OPTIONS AND ISSUANCE OF SHARES IN TRUST

       6.1    The Options shall be granted in favor of the Grantee for no
              consideration.

       6.2    The Options and the Grantee's rights thereunder shall be subject
              to the execution of an Option Agreement between the Company and
              the Grantee, which Option Agreement shall set forth the terms and
              conditions of the Options, as determined by the Company, including
              without limitation, the number of Options granted thereunder, the
              terms of exercise thereof (including the Exercise Price) and any
              other term the Board may deem necessary.

       6.3    In addition, the Options shall be subject to the execution of all
              the documents necessary in order to comply with all applicable tax
              laws (hereinafter: the "TAX LAWS"), and all other documents
              required by the Company, (the Option Agreement and said documents
              shall be hereinafter referred to as: the "DOCUMENTS").

       6.4    The Company shall provide the Grantee with the Documents for
              signature after the Board adopts a resolution to grant Options in
              favor of such Grantee, and the Company shall sign such Documents
              after they have been duly signed and returned by such Grantee.

              It is hereby clarified that the execution of the said Documents by
              the Grantee does not exempt the Grantee from signing any other
              document as may be required by the Company at a later stage.

       6.5    During the Restricted Period (as defined below) and until the
              underlying Shares are released (as provided below), the Options
              granted hereunder shall be held by the Trustee and the Exercised
              Shares shall be issued to the Trustee, and both shall be
              registered in the name of the Trustee, who shall hold the Options
              and/or the Exercised Shares in trust for the benefit of the
              Grantee for an aggregate period of AT LEAST TWO (2) YEARS
              commencing from the date an Option letter is deposited with the
              Trustee (hereinafter: the "RESTRICTED PERIOD"), and then
              continuing until such time as they are released, as hereinafter
              provided.

7.     TERMS OF OPTIONS

       7.1    Except as otherwise provided the amount of Options and the
              Exercise Price for each Grantee shall be determined by the Board
              and shall be specified in the Option Agreement; provided however,
              that in no event shall the Exercise Price be less than the fair
              market value of the Shares on the date of the grant of the
              Options. For as long as the Company's shares are traded on Nasdaq,
              said fair market value shall be as determined by the closing value
              of the Shares listed on Nasdaq at the closing of the last previous
              day of trading.

       7.2    Unless otherwise determined by the Board with respect to any
              specific Grantee, the right of a Grantee to exercise the Options
              granted in such Grantee's favor during the Exercise Period shall
              be vested with such Grantee as follows:

              (a)    If the Grantee remains in the employ of the Company or the
                     Company's subsidiaries for a period of not less than 2
                     years from the date of the resolution of the Board
                     regarding the issuance of the Options to the Grantee

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                     (hereinafter: the "Date of the Grant") - the Grantee shall
                     be entitled to exercise 50% of all the Options granted in
                     such Grantee's favor.

              (b)    If the Grantee remains in the employ of the Company or the
                     Company's subsidiaries for a period of not less than 3
                     years from the Date of Grant - the Grantee shall be
                     entitled to exercise 75% of all the Options granted in such
                     Grantee's favor.

              (c)    If the Grantee remains in the employ of the Company or the
                     Company's subsidiaries for a period of not less than 4
                     years from the Date of Grant - the Grantee shall be
                     entitled to exercise 100% of all the Options granted in
                     such Grantee's favor.

              In the event that the employment of the Grantee is terminated for
              any reason (including due to death or disability), all of the
              Options granted in his favor which are not yet Vested Options
              shall immediately expire and terminate, shall become null and void
              and shall not entitle the Grantee to any right in or to the
              Company.

       7.3    EXERCISE PERIOD

              7.3.1  Each Vested Option shall remain exercisable until the lapse
                     of two years following the later of : (I) the vesting date
                     of such Options, or (II) the date of the initial public
                     offering of the Company's shares on Nasdaq.

              7.3.2  Notwithstanding the abovesaid, a Grantee shall also be
                     entitled to exercise the Vested Options immediately prior
                     to the closing of a transaction, the nature of which is the
                     sale of all of the shares of the Company by the
                     shareholders, upon receipt of the Company's notice
                     specifying such date. It is hereby clarified that in any
                     event, upon the closing of such a transaction, the
                     non-Vested Options shall expire and terminate and become
                     null and void and shall not entitle the Grantee to any
                     right in or to the Company. In the event the Grantee does
                     not exercise all of the Vested Options on the date
                     specified by the Company, the remaining Vested Options
                     shall expire and terminate and become null and void on the
                     closing date of the abovementioned transaction and shall
                     not entitle the Grantee to any right in or toward the
                     Company.

       7.4    Vested Options may be exercised at one time or from time to time
              during the Exercise Period, but only by the Trustee, after the
              Trustee shall have received written instructions from the Grantee,
              accompanied by the full payment of the Exercise Price for the
              Vested Options then being exercised, by personal check or
              cashier's check payable to the order of the Company (the written
              instructions accompanied by the full payment shall be referred to
              hereinafter as: the "Exercise Notice"). The Trustee shall exercise
              such Vested Options with respect to which the Exercise Notice was
              given, by giving the Company, at its principal office, written
              notice of intent to exercise such Vested Options, accompanied by
              the Exercise Notice; provided however, that in case payment is
              made by personal check (and not by cashier's check), the Options
              shall not be considered as exercised, and the Company shall not
              issue the Exercised Shares in respect thereof, until the personal
              check shall have been fully honored by the bank on which it was
              drawn.

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       7.5    The Exercised Shares shall be issued in the name of the Trustee
              who shall hold same until their release as hereinafter provided.

       7.6    A Grantee whose employment with the Company was terminated for any
              reason (including death or disability) shall be entitled only to
              the Shares which were previously exercised and the Vested Options,
              and the remaining Options (i.e. non-Vested) shall expire and
              terminate and become null and void and shall not entitle the
              Grantee to any right in or to the Company.

8.     TRANSFERABILITY

       8.1    The Options and all rights related thereto shall not be
              assignable, transferable, subjected to an attachment, lien or
              encumbrance of any kind.

       8.2    Notwithstanding the abovesaid, the Vested Options shall be
              transferable by will or intestacy, provided that the Company
              receives written notice thereof, accompanied by a certified copy
              of the Will or Intestacy Order and/or other evidence deemed
              acceptable by the Board, and accompanied by the transferee(s)
              written consent to the provisions and rules of the Tax Laws, the
              Plan, and the Option Agreement.

       8.3    Following the exercise of the Vested Options, the Exercised Shares
              shall be transferable after the Restricted Period, subject to all
              applicable securities regulations and lock-up provisions. Further,
              to the extent that applicable law provides for concurrent payment
              of taxes by the transferor upon transfer, the Exercised Shares
              shall only be transferable once payment of all taxes required to
              be paid in connection with a sale or transfer of Exercised Shares
              shall have been made to the tax assessor, confirmation of same
              shall have been received by the Trustee or the Company, and the
              conditions set forth in Section 9 hereunder shall have been
              fulfilled.

       8.4    Without derogating from the abovesaid, in the event the
              shareholders of the Company (not including shareholders who
              purchased shares under an employee share option plan)
              (hereinafter: the "SELLING SHAREHOLDERS") intend to sell all of
              their shares in the Company, and to the effect that the Grantee
              was asked to do so by the majority of the Selling Shareholders
              (which majority shall be determined according to the pro rata
              share of each Selling Shareholder of the issued share capital of
              the Company), the Grantee shall be obligated to join the sale and
              sell his Shares, under the same conditions as the Selling
              Shareholders are selling their shares, and if requested by the
              purchasers of such sale, at the purchaser's sole discretion, the
              Grantee shall sell to the purchasers the Vested Options, under the
              same terms, as if the Grantee had exercised same immediately prior
              to the sale.

9.     RELEASE

       Upon the lapse of the Restricted Period, the Trustee may, pursuant to the
       written request of the Grantee, release and transfer the Exercised Shares
       to the Grantee, or to any third party to whom the Grantee wishes to sell
       the Exercised Shares, as indicated in the Grantee's written notice,
       provided however that all the following conditions will have been
       fulfilled prior to such transfer: (I) payment to the tax assessor of all
       taxes required to be paid upon the release and transfer of the Exercised
       Shares and confirmation of same received by the Trustee; and (II) receipt
       by the Trustee of written confirmation issued by the Company to the
       Trustee stating that all requirements for said release and transfer have
       been fulfilled according to the terms of the Articles, the Tax Laws, the
       Plan and the Option Agreement.

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       The date on which the Exercised Shares shall be released and transferred
       to the Grantee shall hereinafter be referred to as the "DATE OF RELEASE".

10.    TERMINATION

       10.1   Notwithstanding anything to the contrary herein, any Option
              granted in favor of a Grantee not exercised by such Grantee within
              the Exercise Period and in strict accordance with the terms of the
              Plan and the Option Agreement, shall, upon the lapse of the
              Exercise Period, immediately expire and terminate, become null and
              void, and shall not entitle the Grantee to any right in, or toward
              the Company in connection with same, and all interests and rights
              of the Grantee, in and to same, shall expire.

       10.2   Notwithstanding anything to the contrary herein, upon the issuance
              of a court order declaring the bankruptcy of a Grantee, or the
              appointment of a receiver or a provisional receiver for a Grantee,
              or over his assets, or any part thereof, or upon making a general
              assignment for the benefit of his creditors, any Option issued and
              registered in favor of such Grantee which was not yet exercised by
              the Grantee shall immediately expire and terminate, become null
              and void and shall not entitle the Grantee, his receiver,
              successors, creditors or assignees, to any right in, or toward the
              Company in connection with same, and all interests and rights of
              the Grantee, his receiver, successors, creditors or assignees, in
              and to same, if any, shall expire.

11.    RIGHTS AS SHAREHOLDER

       11.1   It is hereby clarified that a Grantee shall not, by virtue of the
              Plan, the Option Agreement or any Option granted in favor of him
              thereunder, have any of the rights of a shareholder with respect
              to any Shares represented by the Options, until the Options have
              been exercised.

              Furthermore, except for the right to receive dividends as provided
              in Section 12.1 hereinafter, the Grantee shall not have any rights
              by virtue of the Exercised Shares until same shall have been
              transferred to the Grantee by registering same in the Grantee's
              name, and only then shall the Grantee have the rights of a
              shareholder with respect to the shares so registered.

       11.2   For so long as the Exercised Shares are held by the Trustee, the
              Company shall consider only the Trustee as the owner of such
              shares for all purposes whatsoever (including without limitation,
              for the purpose of delivering notices); the Trustee, however,
              shall not exercise the voting rights conferred by such Exercised
              Shares in any way whatsoever, and shall not issue a proxy to any
              person or entity to vote such shares.

       11.3   The Grantee shall not have, and hereby waives the right to have,
              by virtue of the Exercised Shares, any pre-emptive rights to
              purchase, along with the other shareholders in the Company, a pro
              rata portion of any securities proposed to be offered by the
              Company prior to the offering thereof to any third party and any
              rights of first refusal to purchase any securities of the Company
              offered by the other shareholders of the Company.

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12.    DIVIDENDS AND BONUS SHARES

       12.1   Cash dividends paid or distributed, if any, with respect to the
              Exercised Shares held by the Trustee, shall be remitted directly
              to the Grantee who is entitled to the Exercised Shares for which
              the dividends are being paid or distributed.

       12.2   All bonus shares to be issued by the Company, if any, with regard
              to the Exercised Shares, shall, if the Exercised Shares are
              registered to the Trustee, be registered in the name of the
              Trustee and, if the Exercised Shares are registered to the
              Grantee, be registered in the name of the Grantee. All provisions
              applying to the Exercised Shares, shall apply to the bonus shares,
              mutatis mutandis.

       12.3   The Trustee shall transfer the said bonus shares upon the transfer
              of the Exercised Shares with respect to which the bonus shares
              were issued.

13.    ADJUSTMENTS

       The number of Shares to which each outstanding Option is exercisable,
       shall be proportionately adjusted in the event of a reorganization of the
       share capital of the Company by a stock split, reverse stock split,
       combination or reclassification of the shares, as well as for a
       distribution of bonus shares. Such adjustment shall be made by the Board,
       whose determination in this matter shall be final and binding.

14.    RIGHTS TO CHANGES

       The Plan or the Option Agreement shall not affect, in any way, the
       rights, powers or freedoms of the Company or its shareholders to make or
       authorize: any sale, transfer or any change whatsoever in all or any part
       of the Company's assets, obligations or business, or any other business,
       commercial or corporate act or proceeding, whether of a similar character
       or otherwise; any or all adjustments, recapitalizations, reorganizations
       or other changes in the Company's capital structure or business; any
       merger or consolidation of the Company; any issue of bonds, debentures,
       shares (including preferred or prior preference shares ahead of or
       affecting the existing shares of the Company including the shares into
       which the Options granted hereunder are exercisable or the Exercised
       Shares or the rights thereof, etc.); or the dissolution or liquidation of
       the Company; and none of the above acts or authorizations shall entitle
       the Grantee to any right or remedy, including, without limitation, a
       right of compensation for any dilution resulting from any issuance of any
       shares or of any other securities in the Company to any person or entity
       whatsoever.

15.    NO EMPLOYMENT OBLIGATIONS

       Nothing in the Plan, the Option Agreements or in any Option granted
       hereunder shall guarantee the Grantee's employment in the Company and no
       obligation of the Company as to the length of employment of the Grantee
       or as to any other term of employment shall be implied by same; the
       Company reserves the right to terminate the employment of any employee
       pursuant to such employee's terms of employment and any law.

16.    NO REPRESENTATION

       The Company does not and shall not, through this Plan or through any
       Option Agreement, make or be deemed to make any representation toward any
       Grantee with regard to the

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                                       8

       Company, its business, its value or with regard to the Company's shares
       in general, and the Exercised Shares in particular, their value or
       rights.

       The Grantee, upon entering the Option Agreement, represents and warrants
       toward the Company, that his consent to the grant of the Options issued
       in favor of him and their exercise (if so exercised), is, in no respect,
       made on the basis of any representation or warranty made by the Company
       or by any of its directors, officers, shareholders or employees, and is
       made based only upon his examination and expectations of the Company, on
       an "as is" basis. The Grantee waives any claim whatsoever of "non
       conformity" of any kind or any other cause of action or claim of any kind
       with respect to the Options and/or the Shares exercised thereupon.

17.    TAX CONSEQUENCES

       All tax consequences arising from the grant or exercise of any Option,
       the payment for or the transfer of the Exercised Shares to the Grantee,
       or from any other event or act (of the Company or the Grantee) hereunder,
       shall be borne solely by the Grantee, and the Grantee shall indemnify the
       Company and hold it harmless from and against any and all liability for
       any such tax or interest or penalty.

       The Company and the Trustee may withhold from any payment to which the
       Grantee may be entitled to from the Company, the amount of the tax and/or
       other mandatory payment the withholding of which is required with respect
       to the Options and/or the Exercised Shares under any law.

18.    SUBORDINATION

       It is clarified that the Grant of the Options hereunder is subject to the
       approval by the Tax Authorities of the Plan and the Trustee, in
       accordance with the Tax Laws. It is also clarified that the Plan and the
       Option Agreement are subject to the provisions of the Tax Laws which
       accordingly shall be deemed an integral part of each, and which shall
       prevail over any term that is not consistent with the Tax Laws.<PAGE>

                                                                 EXHIBIT 10.1

                     PROMISSORY NOTE AND SECURITY AGREEMENT

                                 $1,500,000.00
                      Maturity Date: earlier to occur of:
                            (i) February 20, 2001; or
                           (ii) Equipment Loan Closing

                                Detroit, Michigan
                          Date of Note: August 21, 2000

INDEBTEDNESS

     FOR VALUE RECEIVED, the undersigned, BUCK & BASS, L.P., Missouri limited
partnership ("Borrower"), promises to pay to the order of BIG BUCK BREWERY &
STEAKHOUSE, INC., a Michigan corporation ("Holder"), at its offices at 550 South
Wisconsin Street, Gaylord, Michigan 49735, or at such other place as the Holder
hereof may designate in writing from time to time, the principal sum of One
Million Five Hundred Thousand and 00/100 ($1,500,000.00) Dollars, together with
interest as hereinafter provided, in lawful money of the United States, which
shall be legal tender in payment of all debts and dues, public and private, at
the time of payment, in the manner hereinafter provided.

RATE OF INTEREST

     So long as there is no default hereunder or under the Security Instruments
(as defined below), the principal balance of this Promissory Note and Security
Agreement ("Note") shall bear interest at the rate of Twelve (12%) percent
simple interest per annum ("Contract Rate") during the term of this Note.

     If Borrower does not make timely payments as provided in this Note, a late
payment fee in an amount equal to three (3%) percent of the past due amount
shall be payable in connection with any amount due under this Note that is not
received by Holder within ten (10) days of when due. In the Event of Default
hereunder, Holder shall have the right and option to charge interest on the then
outstanding principal balance at a default rate of Four (4%) percent in excess
of the Contract Rate.

LIMITATIONS ON INTEREST RATE

     It is the intention of Borrower and Holder that the rates of interest from
time to time applicable hereunder, including all sums and charges that may
properly be deemed to constitute interest, shall not exceed the maximum lawful
rate of interest applicable to each such rate. To that end, it is agreed that
any rate of interest applicable hereunder shall not at any time exceed the rates
or amount of interest then permitted to be charged by stipulation in writing
between Borrower and Holder hereunder (the "Interest Rate Limitation").

     In the event that any rate of interest otherwise applicable hereunder
(including any sums paid independent of this Note and properly determined under
applicable law to be interest) shall exceed the Interest Rate Limitation, the
interest rate applicable to this Note shall automatically be reduced to the
applicable maximum interest rate which does not exceed the applicable Interest
Rate Limitation, and sums paid as interest which would cause any effective rate
of interest hereunder to exceed the applicable Interest Rate Limitation shall be
applied to reduce the principal balance of this Note.

MANNER OF PAYMENT

     Borrower shall make interest only payments due under this Note commencing
September 1, 2000 and continuing on the first (1st) day of each month thereafter
until the Maturity Date (as defined below). The balance of the principal amount
and all accrued but unpaid interest due under this Note shall be paid by
Borrower in a lump sum or balloon payment on the earlier to occur of (i)
Equipment Loan Closing (as hereinafter defined) or (ii) February 20, 2001 (the
"Maturity Date"). Payments hereunder shall be applied in the following order of
priority: late charges, costs, expenses, accrued interest and thereafter to the
reduction of principal. This Note will not be self amortizing and instead of a
substantial lump sum balloon

<PAGE>

installment of principal and interest will be due on the Maturity Date. For the
purposes of this Note, the term "Equipment Loan Closing" shall mean the closing
and funding of a permanent loan for the financing of equipment and fixtures to
Borrower and/or to Holder with respect to the Grapevine, Texas development
("Grapevine Facility").

     All interest shall be payable in arrears. Interest hereon shall be
calculated on the basis of a 360-day year applied to the actual number of days
elapsed. All payments of interest and principal shall be payable in lawful
currency of the United States of America.

PREPAYMENT

     Prepayment of the principal of this Note is permitted, in whole or in part,
without premium or penalty of any kind.

DEFAULT

     The unpaid principal balance, all accrued and unpaid interest due under
this Note and all other amounts due hereunder or under the Security Instruments
shall become immediately due and payable at the option of Holder upon the
occurrence of any of the following (collectively, "Events of Default"):

     a.   the Borrower shall fail to pay any principal of or interest on this
     Promissory Note when the same shall become due and payable, whether at the
     stated date of maturity or any accelerated date of maturity or at any other
     date fixed for payment; or

     b.   the Borrower shall make an assignment for the benefit of creditors, or
     admit in writing its inability to pay or generally fail to pay its debts as
     they mature or become due, or shall petition or apply for the appointment
     of a trustee or other custodian, liquidator or receiver of the Borrower or
     of any substantial part of its assets, or shall commence any case or other
     proceeding relating to the Borrower under any bankruptcy, reorganization,
     arrangement, insolvency, readjustment of debt, dissolution or liquidation
     or similar law of any jurisdiction, now or hereafter in effect, or shall
     take any action to authorize or in furtherance of any of the foregoing, or
     if any such petition or application shall be filed or any such case or
     other proceeding shall be commenced against the Borrower and the Borrower
     shall indicate its approval thereof, consent thereto or acquiescence
     therein or shall fail to contest the same in a timely manner;

     c.   an involuntary petition shall be filed or an involuntary proceeding
     shall be commenced seeking liquidation, reorganization or other relief in
     respect of the Borrower or of its debts or any substantial part of its
     assets, under any bankruptcy, reorganization, arrangement, insolvency,
     readjustment of debt, dissolution or liquidation or similar law of any
     jurisdiction, now or hereafter in effect, and in any such case, such
     proceeding or petition shall continue undismissed for sixty (60) days or an
     order or decree approving or ordering any of the foregoing shall be
     entered;

     Borrower shall pay all costs and reasonable attorneys' fees incurred in
collecting or enforcing this Note, whether suit be brought or not. Any failure
of Holder to exercise such option to accelerate shall not constitute a waiver of
the right to exercise such option to accelerate at any future time. Any failure
of Holder to exercise such option to accelerate shall not constitute a waiver of
the right to exercise such option to accelerate at any future time.

     Acceptance by Holder of any payment in an amount less than the amount then
due shall be deemed an acceptance on account only, and the failure to pay the
entire amount then due shall be and continue to be an Event of Default or
default. At any time thereafter and until the entire amount then due has been
paid, Holder shall be entitled to exercise all rights conferred upon it in this
Note, upon the occurrence of an Event of Default.

     Borrower and every person and entity at any time liable for the payment of
the evidenced debt expressly authorize Holder to immediately apply to the
payment of this Note any sum of money or other property belonging to Borrower or
any such person or entity, deposited or otherwise in the hands of Holder;
provided, however, that neither this authority, nor the fact that it may not be
exercised, shall alter or modify in any manner the obligation herein incurred.

<PAGE>

SECURITY AGREEMENT

     The obligations of Borrower hereunder are secured by a security interest in
all equipment, trade fixtures and fixtures of Borrower related to the Grapevine
Facility. The undersigned agrees that this Note shall also constitute a security
agreement within the meaning of the Texas Uniform Commercial Code or the Uniform
Commercial Code of any other applicable state ("Code") with respect to
Borrower's interest in all equipment, trade fixtures and fixtures and all
proceeds thereof with respect to the Grapevine Facility; a security interest in
and to the personal property, equipment, contracts, licenses, permits, goods,
inventory, fixtures, general intangibles, trade fixtures, and products and
proceeds (collectively, "Collateral") with respect to the Grapevine Facility is
hereby granted to Holder by Borrower; and Borrower hereby pledges and assigns to
Holder all of Borrower's right, title and interest in the Collateral, all to
secure the payment of the indebtedness of Borrower to Holder under this Note. In
event of default or Event of Default hereunder, the Holder shall have the right
to foreclose its security interest in Borrower's interest in the Collateral with
respect to the Grapevine Facility in a manner provided by law for the
foreclosure of a security interest under the Code or as otherwise provided in
law or in equity. Until the indebtedness evidenced by this Note is paid in full,
the Borrower shall sell, assign, transfer or otherwise dispose of the Collateral
with respect to the Grapevine Facility or any interest therein, and Borrower
covenants and represents that the Collateral will be free and clear of all
liens, encumbrances or security interests of others, other than Holder's. The
Borrower, upon demand, shall execute and deliver to Holder financing statements
and/or title applications for certificates and other documents in form necessary
and satisfactory to Holder, and will do all such acts and things as Holder may
at any time or from time to time, reasonably request or may be necessary or
appropriate to establish and maintain the first perfected security interest in
the Collateral with respect to the Grapevine Facility, subject to no liens,
encumbrances or other security interests.

ASSIGNMENT

     This Note is being assigned by Holder to Wayne County Employees' Retirement
System ("WCERS") as security for the indebtedness evidenced by that certain
Promissory Note dated August 21, 2000 ("Big Buck Note") from Holder to WCERS.
Upon any default under this Note and the Big Buck Note, WCERS has the right to
seek all rights and remedies under this Note, the Big Buck Note and all loan
documents and agreements evidencing and securing this Note and the Big Buck
Note.

WAIVER

     Borrower, for itself and its legal representatives, successors and assigns,
and every person and entity at any time liable for the indebtedness hereunder,
or any part thereof, expressly waives presentment, demand, protest, notice of
dishonor, notice of nonpayment, notice of maturity, notice of protest,
presentment for the purpose of accelerating maturity, diligence in collection,
marshalling rights, subrogation rights, and any exemption under the homestead
exemption laws, if any, or any other exemption or insolvency laws. Borrower
consents that Holder may release, exchange or substitute any real estate and/or
personal property or other collateral security now held, or which may hereafter
be held as security for the payment of this Note, and may extend the time for
payment or otherwise modify the terms of payment of any part or the whole of the
debt evidenced hereby.

GOVERNING LAW, SUCCESSORS AND ASSIGNS AND MISCELLANEOUS

     This Note is delivered and accepted in the State of Michigan and shall be
governed and construed in accordance with its laws. If any provision of this
Note is in conflict with any statute or applicable rule of law, or is otherwise
unenforceable for any reason whatsoever, such provision shall be deemed null and
void to the extent of such conflict or unenforceability and shall be deemed
separate from and shall not invalidate any other provision of this Note. Time
shall be of the essence under this Note. This Note may not be amended except by
a writing signed by Borrower and Holder. This Note shall, in accordance with its
terms, be binding upon Borrower, its partners and their respective personal
representatives, heirs and successors and assigns and shall inure to the benefit
of Holder and its successors and assigns. The paragraph captions provided in
this Note are for convenience only and shall not affect the meaning,
interpretation or construction of the provisions hereof.

<PAGE>

     IN WITNESS WHEREOF, Borrower has caused this Note to be executed on the day
and year first written above.

                                   BUCK & BASS, L.P.,
                                   a Missouri limited partnership

                                   By:  BBBP Management Company,
                                              a Michigan corporation
                                              Its:  General Partner

                                   By: /s/ William F. Rolinski
                                      ----------------------------------------

                                              Its: President
                                                  ----------------------------

                                   Address:   505 South Wisconsin
                                              P.O. Box 1430
                                              Gaylord, MI  49735-0617
                                   Tax I.D. No.  38-3439133

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