Document:

Exhibit 4.1  

EIGHTH AMENDMENT TO
AMENDED AND 
RESTATED CREDIT
AGREEMENT 

        THIS
EIGHTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT, dated as of June 25, 2004,
amends and supplements that certain Amended and Restated Credit Agreement dated as of
April 30, 1999, as amended to date (the “Credit Agreement”), among BANDO
MCGLOCKLIN SMALL BUSINESS LENDING CORPORATION, a Wisconsin corporation (the
“Company”), the financial institutions from time to time party thereto
(individually a “Lender” and collectively the “Lenders”), and U.S.
BANK NATIONAL ASSOCIATION (formerly known as Firstar Bank, N.A., successor by merger to
Firstar Bank Milwaukee, N.A.), as agent for the Lenders (in such capacity, the
“Agent”). 

RECITAL 

        The
Company, the Lenders and the Agent desire to amend the Credit Agreement as provided below. 

AGREEMENTS 

        In
consideration of the promises and agreements set forth in the Credit Agreement, as amended
hereby, the Lenders, the Agent and the Company agree as follows: 

         1.       
          Definitions and References. Capitalized terms not otherwise defined
          herein have the meanings assigned to them in the Credit Agreement. All
          references to the Credit Agreement contained in the Loan Documents shall, upon
          fulfillment of the conditions set forth in section 3 below, mean the Credit
          Agreement as amended by this Eighth Amendment. 

         2.       
          Amendments to Credit Agreement. The Credit Agreement is amended as
          follows: 

		    (a)            The
definition of “Eligible Leased Real Estate” contained in section 1           is
amended to read as follows: 

	 	        "Eligible
Leased Real Estate" means real property owned by the Company and leased to a lessee
(a) which is used by the lessee in the conduct of its business activities and (b) with
respect to which the Company has provided the Collateral Custodian with the documents,
instruments and agreements described in section 3.3 of the Collateral Custodian
Agreement. The only Eligible Leased Real Estate with an Affiliate of the Company as a
tenant is the existing facility, commonly referred to as “Walnut Ridge” leased
to Licensed Products, Inc., until such time as Licensed Products, Inc. purchases such
facility from the Company.  

		    (b)            The
definition of “Eligible Owner-Occupied Real Estate Loan” contained           in
section 1 is amended to read as follows:  

	 	        “Eligible
Owner-Occupied Real Estate Loan” means an Owner-Occupied Real Estate Loan with
respect to which the Company has provided the Collateral Custodian with the documents,
instruments and agreements described in section 3.4 of the Collateral Custodian
Agreement. The only Owner-Occupied Real Estate Loans to an Affiliate of the Company which
may be an Eligible Owner-Occupied Real Estate Loan are (a) a loan to Lee Middleton
Original Dolls, Inc. in an amount not to exceed 80% of Appraised Value, subject to a
maximum of $2,500,000 and (b) a loan to Licensed Products, Inc., to facilitate such entity’s
purchase of the “Walnut Ridge” facility, in an amount not to exceed $3,935,000.  

		    (c)            The
definition of “Interest Period” contained in section 1 is amended           to
read as follows:  

	 	        “Interest
Period” means, with respect to a LIBOR Rate Loan, a period of seven (7) or
fourteen (14) days, or one, two or three months commencing on (and including) a Business
Day selected by the Company pursuant to section 2.3(a) or 2.4(c) of this Agreement and
ending on (but excluding) the day which is, as the case may be, seven (7) or fourteen
(14) days after such date, or, which corresponds numerically to such date one, two or
three months thereafter (or, if such month has no numerically corresponding date, on the
last Business Day of such month), provided that:  

2 

		        (a)          if
an Interest Period would otherwise end on a day which is not a Business Day, such
Interest Period shall end on the next following Business Day (unless in the case of one,
two or three months periods, such next following Business Day is in a new calendar month
in which case such Interest Period shall end on the immediately preceding Business Day);
and  

		        (b)          no
Interest Period may end later than the Maturity Date.  

		    (d)            The
definition of “Maturity Date” contained in section 1 is amended by
          deleting “June 25, 2004" contained therein and substituting “June
          24, 2005” in its place.  

		    (e)            The
definition of “Net Earnings” contained in section 1 is amended by
          adding the following paragraph at the end thereof:  

	 	        Notwithstanding
the foregoing, for purposes of determining Net Earnings hereunder, any management or
other intercompany fees payable to the Company shall only be included in Net Earnings to
the extent actually received in cash by the Company.  

		    (f)            The
definition of “Revolving Loan Commitment” contained in section 1           is
hereby amended to read as follows: 

	 	        “Revolving
Loan Commitment” means the obligation of each Lender to make Revolving Loans to
the Company. The total Revolving Loan Commitment of the Lenders is initially $50,000,000
and is subject to reduction from time to time pursuant to section 2.6. The Revolving Loan
Commitment of each Lender is such Lender’s Percentage of the total Revolving Loan
Commitment and the initial Revolving Loan Commitment of each Lender is set forth on
Exhibit H attached hereto.  

		    (g)            Section
2.1(d) is created to read as follows:  

	 	        (d)       Commercial
Paper. The parties acknowledge and agree that the credit facilities provided to the
Company hereunder shall provide credit support for the Company’s issuance of
Commercial Paper. The parties further acknowledge and agree that the CP Placement Agent
shall not place Commercial Paper to the extent that the placement thereof would cause the
aggregate amount of Commercial Paper outstanding at such time to exceed the lesser of (a) the
Lenders’ total Revolving Loan Commitments less the LOC Exposure less the then
outstanding principal balance of the Notes or (b) the Borrowing Base Amount less the
LOC Exposure less the then outstanding principal balance of the Notes.  

3 

		    (h)            The
last sentence of section 2.2 is amended by deleting the number           “10” contained
therein and substituting the number “20” in           its place.  

		    (i)            Section
6.1 is amended to read as follows:  

	 	        6.1
   Restricted Payments. Make any Restricted Payments except that so long as no Default
or Event of Default exists and no Default or Event of Default would arise after giving
effect to any such Restricted Payment, the Company may make, declare and pay dividends to
the Parent, provided that in no event shall the Company pay any dividend (a)  that
constitutes a return-of-capital dividend, except that the Company may pay a one-time
return-of-capital dividend to the Parent in an amount not to exceed $500,000 or (b) during
any fiscal quarter following a fiscal quarter for which the Company’s Net Earnings
failed to exceed $0. 

		    (j)            Section
6.9 is amended to read as follows:  

	 	        6.9
   Adjusted Tangible Net Worth. Permit Adjusted Tangible Net Worth to be less than
$9,500,000 at any time. 

		    (k)            Exhibit
H attached hereto shall be deemed an exhibit to the Credit Agreement and           shall
replace its predecessor attached thereto.  

    3.       Effectiveness
of Eighth Amendment. This Eighth Amendment shall become           effective upon its
execution and delivery by the Company, the Lenders and the           Agent and
satisfaction of the following conditions:  

		    (a)              Closing
Certificate of the Company. The Agent shall have received copies           for each
of the Lenders, certified by the Secretary of the Company to be true           and
correct and in full force and effect, of (i) a statement to the effect
          that the Articles of Incorporation and By-Laws of the Company delivered to the
          Lenders on April 30, 1999 have not been amended since that date and remain in
          full force and effect as of the date hereof; (ii) resolutions of the Board
          of Directors of the Company authorizing the issuance, execution and delivery of
          this Eighth Amendment; and (iii) a statement containing the names and
          titles of the officer or officers of the Company authorized to sign such
          documents, together with true signatures of such officers.  

4 

		    (b)              Reaffirmation
of Guaranty. The Agent shall have received a reaffirmation           of guaranty duly
executed by the Guarantor in form and substance satisfactory to           the Agent
pursuant to which the Guarantor reaffirms its obligations to the           Lenders and
the Agent..  

		    (c)              Proceedings
Satisfactory. All other proceedings contemplated by this           Eighth Amendment
shall be satisfactory to the Lenders and the Agent, and the           Lenders and the
Agent shall have received such other information relating hereto           as the Lenders
or the Agent may reasonably request.  

    4.       Waivers.
The Lenders hereby waive the Events of Default arising under           (a) section
6.1 hereof as a result of the Company’s payment of a           dividend following a
fiscal quarter for which the Company’s Net Earnings           was less than $0, (b) section
6.9 as a result of the Company’s failure           to maintain Adjusted Tangible Net
Worth of at least $18,000,000 through the date           of this Eighth Amendment and (c) section
6.13 as a result of the           Company’s failure to achieve Net Earnings of at
least $0 for the fiscal           quarter ended December 31, 2003. Nothing contained
herein shall be deemed to be           a waiver by the Lenders of the Company’s
compliance with any other           provision of the Credit Agreement or of any other
Default or Event of Default,           whether known or unknown, except as specifically
set forth herein. The           Lenders’ willingness to provide the waivers
contained herein shall not be           construed as an expression of their willingness
to provide a waiver of any           Default or Event of Default in the future and the
Lenders hereby retain all of           their rights and remedies with respect to any such
future Default or Event of           Default.  

    5.       Representations
and Warranties. The Company represents and warrants to           the Lenders and the
Agent that:  

		    (a)                        The
execution and delivery of this Eighth Amendment and related documents, and           the
performance by the Company of its obligations thereunder, are within its
          corporate power, have been duly authorized by proper corporate action on the
          part of the Company, are not in violation of any existing law, rule or
          regulation of any governmental agency or authority, any order or decision of
any           court, the Articles of Incorporation or By-Laws of the Company or the terms
of           any agreement, restriction or undertaking to which the Company is a party or
by           which it is bound, and do not require the approval or consent of the
          shareholders of the Company, any governmental body, agency or authority or any
          other person or entity; and  

5 

		    (b)                        The
representations and warranties contained in the Loan Documents are true and
          correct in all material respects as of the date of this Eighth Amendment except
          (i) the representations and warranties contained in section 3.3 of the Credit
          Agreement shall apply to the most recent financial statements delivered by the
          Company to the Lenders pursuant to sections 5.1 and 5.2 of the Credit Agreement
          and (ii) for changes contemplated or permitted by the Loan Documents and, to
the           Company’s knowledge, except for the defaults waived herein, no
condition           exists or event or act has occurred that, with or without the giving
of notice           or the passage of time, would constitute an Event of Default under
the Credit           Agreement.  

    5.       Costs
and Expenses. The Company agrees to pay to the Agent, on demand,           all costs
and expenses (including reasonable attorneys’ fees) paid or           incurred by
the Agent in connection with the negotiation, execution and delivery           of this
Eighth Amendment.  

    6.       Full
Force and Effect. The Credit Agreement, as amended hereby, remains           in full
force and effect.  

    7.       Counterparts.
This Eighth Amendment may be executed in any number of           counterparts, all of
which taken together shall constitute one agreement, and           any of the parties
hereto may execute this Eighth Amendment by signing any such           counterpart.  

[Intentionally Left
Blank, Signatures Appear on Next Page] 

6 

		
	 	 	 	BANDO MCGLOCKLIN SMALL BUSINESS LENDING CORPORATION	 	 
	 	 	 
	 	 	 
	 	 	 	BY /s/ Susan J. Hauke
                 
              	 	 
	 	 	 	Its: Vice President Finance
             
           	 	 
	 	 	 	 	 	 
	 	 	 
	 	 	 	U.S. BANK NATIONAL	 	 
	 	 	 	ASSOCIATION (formerly known as	 	 
	 	 	 	Firstar Bank, N.A., successor by merger	 	 
	 	 	 	to Firstar Bank Milwaukee, N.A.), as the	 	 
	 	 	 	Agent and a Lender	 	 
	 	 	 
	 	 	 
	 	 	 	BY /s/ Jon B. Beggs
                    
              	 	 
	 	 	 	Its: Vice President
                  
                   	 	 
	 	 	 	 	 	 
	 	 	 
	 	 	 	LASALLE BANK NATIONAL	 	 
	 	 	 	ASSOCIATION (formerly known	 	 
	 	 	 	as LaSalle National Bank)	 	 
	 	 	 
	 	 	 	BY /s/ Daniel C. Langhoff
             
           	 	 
	 	 	 	Its: Vice President
                       
              	 	 
	 	 	 	 	 	 
	 	 	 
	x	 	 	M&I MARSHALL & ILSLEY BANK	 	 
	 	 	 
	 	 	 
	 	 	 	BY /s/ Philip D. Koepke
               
              	 	 
	 	 	 	Its: Senior Vice President
             
              	 	 
	 	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 	BY /s/ James Tepp
                   
                   	 	 
	 	 	 	Its: Vice President
                  
                     	 	 
	 	 	 	 	 	 

S-1 

EXHIBIT H 

Lenders’
Revolving Loan Commitments 

			
	   
            Lender 	 	 	 	Revolving Loan
   Commitment 	 	 	Percentage 	 
	
U.S. Bank National Association	 	 	 	$   30,000,000	 	 	60.00%	 
	
LaSalle Bank National Association	 	 	 	$   10,000,000	 	 	20.00%	 
	
M&I Marshall & Ilsley Bank	 	 	 	$   10,000,000	 	 	20.00%EXHIBIT 10.1 to SCANNER TECHNOLOGIES CORPORATION FORM 10-Q DATED JUNE 30, 2004

EXHIBIT 10.1

EMPLOYMENT AGREEMENT

        THIS
AGREEMENT, made effective January 1, 2004 by and between Scanner Technologies Corporation,
a Minnesota corporation (the “Company”), and Elwin M. Beaty, an individual
resident of the State of Minnesota, (the “Employee”). 

        WHEREAS,
the parties wish to provide for the employment of the Employee by the Company; 

        WHEREAS, the
Company desires reasonable protection of its confidential business and technical
information, which has been and will be acquired, and is being developed by the Company,
at substantial expense; 

        NOW,
THEREFORE, in consideration of the mutual promises contained herein, the Company and the
Employee, each intending to be legally bound, agree as follows: 

        1.    Employment.    Subject
to all of the terms and conditions of this Agreement, the Company agrees to employ the Employee and the Employee accepts
this employment. 

        2.    Duties.    The
Employee as PRESIDENT & CEO, will make the best use of his energy, knowledge and training in advancing the
Company’s interests. He will diligently and conscientiously perform the duties, as such duties may be defined by
the Company’s BOARD. The Employee shall also perform such other tasks as may from time to time be reasonably
required to further the growth of the Company. 

        3.    Term.    The Employee shall be employed at
an at-will basis; either party may terminate the employment relationship upon 30 days written notice to the other.

        4.    Compensation, Benefits, & Expenses.  

	  	(a)    Compensation.    See Exhibit A.  

	  	(b)    Benefits.    The Employee will be eligible
to participate in benefit and profit sharing plans, which may be established by the Board of Directors of the Company.
The Employee will be eligible for any Company approved medical plan after 90 days continuous employment. 

	  	(c)    Expenses.    The Company shall reimburse
the Employee for all ordinary and necessary business expenses the Employee incurs while performing his duties under this
Agreement, provided that the Employee accounts properly for such expenses to the Company in accordance with the general
corporate policy of the Company as determined by the Company’s Board of Directors and in accordance with the
requirements of Internal Revenue Service regulations relating to substantiation of expenses. 

        5.
    Inventions.    

	  	(a)    “Inventions,” as
used in this Section 5, means any discoveries, designs, improvements or software whether or not they are in writing or
reduced to practice of works of authorship 

	  	(whether or not they can be patented or copyrighted) that the Employee makes, authors, or conceives (either alone or
with others) and that: 

	  	(i) concern directly the Company’s products, research or development; or  

	  	(ii) result from any work the Employee performs for the company; or  

	  	(iii) use the Company’s equipment, facilities, or trade secret information.  

	  	(b)    The Employee agrees that all
Inventions he makes subsequent to the Employment Date will be the sole and exclusive property of the Company. The
Employee will, with respect to any such Invention:

	  	(i) keep current, accurate, and complete records, which
will belong to the Company and be kept and stored on the Company’s premises; 

	  	(ii) promptly and fully disclose the existence and
describe the nature of the Invention to the Company in writing (and without request); 

	  	(iii) assign (and the Employee does hereby assign) to
the Company all of his rights to the Invention, any applications he makes for patents or copyrights in any country, and
any parents or copyrights granted to him in any country; and 

	  	(iv) acknowledge and deliver promptly to the Company any
written instruments, and perform any other reasonable acts necessary in the Company’s opinion and at its expense to
preserve its property rights in the Invention against forfeiture, abandonment, or loss and to obtain and maintain
letters patent and/or copyrights on the Invention and to vest the entire right and title to the Invention in the Company
or its assign; provided, however, that the Employee makes no warranty or representation to the Company as to rights
against third parties hereunder. 

The requirements of this subsection 5 (b) do not apply to an
Invention for which no equipment, facility, or trade secret information of the Company was used and which was developed
entirely on the Employee’s own time, and which (i) does not relate directly to the Company’s business or to
the Company’s actual research or development, or (ii) does not result from any work the Employee performed for the
Company. 

        6.    Confidential Information.

	  	(a)    “Confidential
Information,” as used in this Section 6, means information that is not generally known and that is proprietary to
the Company or that the Company is obligated to treat as proprietary. This information includes, without limitation:

	  	(i) trade secret information about the Company and its
products or services; 

	  	(ii) “Inventions,” as defined in
subsection 5(a) above; 

	  	(iii) information concerning the Company’s business
(including the Company’s customer and supplier lists) as the Company has conducted it or as it may conduct it in
the future; and 

	  	(iv) information concerning any of the Company’s
past, current, or possible future products, including (without limitations) information about the Company’s
research, development, engineering, purchasing, manufacturing, servicing, finances, pricing, marketing or sales.

Any information that reasonably can be expected to be treated as
Confidential Information will be presumed to be Confidential Information (whether the Employee or others originated it
and regardless of how he obtained it). 

	  	(b)     Except as required in his
duties to the Company, the Employee will not, during his association with the Company or for a period of three (3) years
after termination of such association, use or disclose Confidential Information to any person not authorized by the
Company to receive it, excluding Confidential Information (i) which becomes publicly available through a source other
than the Employee, or (ii) which is received by the Employee after termination of his employment hereunder from a source
who did not obtain the information directly or indirectly from employees or agents of the Company, or (iii) for which
disclosure thereof the Company has given its prior written consent. When the Employee’s association with the
Company ends, he will promptly turn over to the Company all records and any compositions, articles, devices, apparatus,
and other items that disclosure, describe, or embody Confidential Information, including all copies, reproductions, and
specimens of the Confidential Information in his possession, regardless of who prepared them. 

        7.    Competitive
Activities.    The Employee agrees that during his employment with the Company and for a period
of one (1) year after his employment with the company ends: 

	  	(a)   He will not alone, or in any
capacity with another firm, (I) directly or indirectly engage in any commercial activity that is competitive with the
Company’s business, as constituted at the time the Employee’s employment with the Company was terminated, nor
will he participate in the management or operation of, or become a significant investor in, any venture or enterprise of
whatever kind whose business is the design, development, production, marketing, or serving of any product or service
competitive with the business of the Company as it exists at the time his employment with the Company is terminated,
(ii) solicit or in any way interfere or attempt to interfere with the Company’s relationships with any of its
current or potential customers, or (iii) employ or attempt to employ any of the Company’s employees on behalf of
any other entity competing with the Company; provided, however, that nothing in this Section 7 shall restrict the
Employee’s employment by or association with any entity, venture or enterprise which engages in a business with a
product or service competitive with any product or service of the Company so long as the following conditions are
complied with: (A) the Employee’s employment or association with such entity, venture or enterprise is limited to
work which does not involve or relate to the design, development, production, marketing or servicing of a product or
service which is directly competitive with any product or service of the Company; and (B) the Employee’s employer
takes reasonable measures to insure that the Employee is not involved with or consulted in any aspect of the design,
development, production, marketing or servicing of such competitive product or service. 

	  	(b)     He will, prior to accepting
employment with any new employer, inform that employer of this Agreement and provide that employer with a copy of
Section 7 of this Agreement, provided that he reasonably believes his new position is or may be contrary to this
Agreement. 

        8.    Conflicting
Business.    The Employee agrees that he will not engage in any business activity or outside
employment that may be in conflict with the Company’s proprietary or business interests. 

        9.    No
Adequate Remedy.    The Employee understands that if he fails to fulfill his obligations under
Section 5, 6, 7, or 8 of this Agreement, the damages to the Company would be very difficult to determine. Therefore, in
addition to any other rights or remedies available to the Company at law, inequity or by statute, the Employee hereby
consents to the agreement by the Company through an injunction or restraining order issued by an appropriate court.

        10.    Miscellaneous.

	  	        (a)    Successors
and Assigns.    This Agreement may not be assigned by the Employee. Except as provided in the
next sentence, this Agreement may not be assigned by the Company without the Employee’s consent, which consent
shall not be reasonably withheld. In any event, the Company may assign this Agreement without the consent of the
Employee in connection with a merger, consolidation, assignment, sale, or other disposition of substantially all of its
assets or business. 

	  	        (b)    Modification.    This
Agreement may be modified or amended only by a writing signed by each of the parties hereto. 

	  	        (c)    
Prior Agreements.    The Employee represents and warrants that he has the right to enter into
this Agreement and is not under contract with or obligated to anyone which would in any way interfere with or prevent
the making of or the due and full performance of this Agreement by him. 

	  	        (d)    
Governing law.   The laws of the State of Minnesota shall govern the validity, construction, and
performance of this Agreement. 

	  	        (e)    
Construction.   Wherever possible, each provision of this Agreement shall be interpreted so that
it is valid under applicable law. If any provision of this Agreement is to any extent invalid under applicable law in
any jurisdiction, that provision shall still be effective to the extent it remains valid. The remainder of this
Agreement also shall continue to be valid, and the entire Agreement shall continue to be valid in other jurisdictions.

	  	        (f)    
Non-Waiver.   No failure or delay by any of the parties hereto in exercising any right or remedy
under this Agreement shall waive any provision of the Agreement. Nor shall any single or partial exercise by any of the
parties hereto of any right or remedy under this Agreement preclude any of them from otherwise or further exercising
their rights or remedies, or any other rights or remedies granted by any law or any related document. 

	  	        (g)    
Captions.   The headings of this Agreement are for convenience only and
shall not affect the interpretation of this Agreement. 

	  	        (h)    
Notices.   All notices required or permitted to be given pursuant to this Agreement shall be in
writing, sent via certified mail, return receipt requested, express overnight courier, or by facsimile or e-mail to the
address as set forth below, or to such other address as may be specified from time to time in writing. Such notice shall
be deemed to have been received on the earlier of (i) the date when actually received, or two (2) business days
after mailing if sent by express overnight courier to the 

	  	following addresses, or such other addresses as either
party shall have notified the other party or (ii) if by facsimile or e-mail, when the sending party shall have received
a facsimile or e-mail confirmation that the message has been received by the receiving party’s facsimile machine or
e-mail provider. 

	If to the Company:	Scanner Technologies Corporation
		14505 21st Avenue North, Suite 220

Minneapolis, MN 55447
	 
	If to the Employee:	Elwin M. Beaty
		13529 Arthur St.

                                 Minnetonka, MN 55305

	  	        (i)    
Entire Agreement.   This agreement, including all Exhibits, constitutes the entire agreement
between the parties with respect to the subject matter hereof, and supersedes all prior agreements or representations,
oral or written, regarding such subject matter. 

        IN WITNESS WHEREOF,
the Company and the Employee have executed this Agreement. 

Scanner Technologies Corporation 

	By    /s/   David P. Mork	1/1/04	By    /s/   Elwin M. Beaty	1/1/04
	        David P. Mork, Director	Date	        Elwin M. Beaty, Employee	Date

[LETTERHEAD] 

Date: January 1, 2004

To: Elwin M. Beaty

Company: STC

From: David Mork

Subject: Exhibit A

This Exhibit A, is made a part of
the EMPLOYMENT AGREEMENT, and is effective January 1, 2004. 

Job Description

The title of the position is:

1.    President & CEO

2.    The duties will be defined by the BOARD.

Compensation and Benefits 

	1. 	
The Employee will be eligible for company paid medical benefits in accordance
with the terms of the Company’s plan. 

	2. 	
The Employee will be entitled to one week of paid vacation after each three
month period of continuous full time employment. All vacation must be used
within the calender year unless agreed to in writing by the Company. 

	3. 	
The Employee will be eligible for all Company paid holidays as may be approved
by the Company from time to time. There are 14 paid holidays in 2004. 

	4. 	
The Employee will be eligible for any Company Stock Option Plan as may be
established from time to time. 5. The Employee will be paid a base salary of
$20,000.00 per month, paid in equal amounts on the 15th and last day of each month, commencing January 1, 2004.

	6. 	The Employee will be
paid $40,000 additional income each January 1.

	7. 	
The Employee will be paid an amount equal to his total annual income ($280,000)
if terminated without cause. 

	By    /s/   David P. Mork	1/1/04	By    /s/   Elwin M. Beaty	1/1/04
	        David P. Mork	Date	        Elwin M. Beaty	Date

	        Director		        Employee	

14505 21st AVENUE NORTH•SUITE 220•MINNEAPOLIS, MN 55447

PHONE 612.476.8271•FAX 612.476.0364

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