Document:

EXHIBIT 10.9

                      SEPARATION AGREEMENT AND FULL RELEASE
                      -------------------------------------

         This Separation Agreement and Full Release (the "Agreement") dated as
of February 28, 2001 by and between Christine A. Reich ("Reich") and Ocwen
Federal Bank FSB, its parent company, subsidiaries and affiliates, including
without limitation Ocwen Financial Corporation, its subsidiaries and affiliates
(collectively, the "Company").

         In consideration of the mutual covenants and agreements contained
herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

         1.       The parties agree that Reich's employment with the Company
                  will end effective March 1, 2001 (the "Separation Date").
                  Thereafter, Reich will serve as a consultant to the Company
                  subject to termination at any time by either Reich or the
                  Company (the "Consulting Termination Date"), but in any event
                  no later than May 16, 2001. Ocwen shall pay to Reich by check
                  the sum of $12,307.69 every two weeks commencing March 16,
                  2001 and ending 52 weeks after the Consulting Termination
                  Date.

         2.       On or prior to the Consulting Termination Date, the Company
                  and Reich shall enter into the Amended and Restated
                  Non-Qualified Option Agreements in the form of Exhibits A
                  through D attached hereto and incorporated herein by reference
                  (the "Amended Option Agreements").

         3.       In consideration for the payments set forth above, Reich
                  hereby (i) waives any and all rights to salary, incentive
                  compensation and benefits, whether earned or unearned, and
                  whether due or to become due, from the Company; (ii) agrees
                  that the Amended Option Agreements set forth the full and
                  complete agreement between Reich and the Company regarding any
                  and all right to acquire stock or securities of the Company
                  (via options or otherwise); and (iii) fully and forever
                  releases and discharges from liability, and covenants not to
                  sue, the Company and its affiliates (including parent and
                  subsidiary companies), officers, directors, managers, counsel
                  and agents and representatives of any sort, both present and
                  former, for any and all claims, damages, actions and causes of
                  action, in law or in equity, of every nature which Reich may
                  ever have had, now has or may in the future have which are
                  known or may subsequently be discovered by Reich arising out
                  of, or in connection with or related to Reich's employment
                  with the Company and/or separation from employment with the
                  Company (including as relates to her employment as a
                  consultant to the Company), including but not limited to any
                  contracts, agreements and promises, written and oral; any and
                  all claims of discrimination on account of sex, race, age,
                  disability, handicap, national origin, religion, veteran
                  status, marital status or sexual orientation and claims or
                  causes of action based upon any equal opportunity laws,
                  ordinances, regulations or orders including, but not limited
                  to, Title VII of the Civil Rights Act of 1964, the Age
                  Discrimination in Employment Act, Executive Order 11246, The
                  Americans with Disabilities Act, The Rehabilitation Act and
                  any applicable state or local antidiscrimination statutes;
                  claims for wrongful termination actions of any type; breach of
                  express or implied covenant of good faith and fair dealing;
                  intentional or negligent infliction of emotional distress;

                                       1

<PAGE>

                  intentional or negligent failure to supervise, train, hire or
                  dismiss; and claims for fraud, misrepresentation, libel,
                  slander or invasion of privacy. Reich agrees that she will not
                  file any claim or join in any claim as an individual or a
                  member of a class in any federal, state or local court or
                  agency in regards to claims of herself or others relating to
                  her employment with the Company or her knowledge gained during
                  the course of that employment. Nothing in this paragraph is
                  intended to limit in any way the Company's responsibility to
                  indemnify Reich for actions taken prior to the Consulting
                  Termination Date in accordance with the Florida Business
                  Corporation Act.

         4.       Reich further agrees and covenants that Reich has not and will
                  not remove from the Company premises any item belonging to the
                  Company and its affiliates, including office equipment, files,
                  business records or correspondence, customer lists, computer
                  data and proprietary or confidential information
                  ("Information") and that Reich has not and will not disclose
                  or use any Information and/or trade secrets of the Company and
                  its affiliates. Reich agrees to keep all such Information
                  confidential and not disclose or use the Information for any
                  purpose, or divulge or disclose that Information to any person
                  other than Employees of the Company. Reich acknowledges and
                  agrees that nothing in the preceding sentence shall be
                  interpreted or construed as creating or establishing the
                  relationship of employer and employee between Company and
                  Reich during the period in which Reich serves as a consultant
                  to the Company.

         5.       Reich acknowledges that during the term of her employment she
                  has been provided access to confidential information and
                  Company's clients, customers and others with whom Company has
                  formed valuable business arrangements. Reich agrees that
                  during the period in which she serves as a consultant to the
                  Company and for a period of eighteen (18) months from the
                  Consulting Termination Date she will not

         (i)      Take any action that would interfere with, diminish or impair
                  the valuable relationships that Company and/or Company's
                  Affiliates have with its or their customers and clients and
                  others with which Company and/or the Company's Affiliates have
                  business relationships or to which services are rendered;

         (ii)     Recruit or otherwise solicit or induce any person (natural or
                  otherwise) who is or becomes an employee or consultant of
                  Company or the Company's Affiliates to terminate his or her
                  employment with, or otherwise cease his or her relationship
                  with, Company or Company's Affiliates or hire any such
                  employee or consultant who has left the employ of the Company
                  or the Company's Affiliates within two (2) years after the
                  termination or expiration of such employee's or consultant's
                  employment with the Company or the Company's Affiliates, as
                  the case may be; or

         (iii)    Assist with others in engaging in any of the foregoing.

         6.       Reich shall not, either directly or indirectly, disclose,
                  discuss or communicate to any entity or person, except her
                  attorney and/or her immediate family, any information
                  whatsoever regarding the existence or terms of this Agreement,
                  its nature or scope or the negotiations leading to it, unless
                  she is compelled to disclose such information pursuant to
                  legal process, and then only after reasonable notice to the
                  Company. Reich shall not take any action or make any statement
                  which might tend to impugn, disparage, defame, discredit or
                  detract from the Company, its officers, employees (past or
                  present) or businesses. Reich shall be responsible for
                  assuring that her family complies with the nondisclosure
                  commitments of this section. A breach by Reich's family will
                  be considered a breach by Reich. The Company agrees not to

                                       2

<PAGE>

                  disclose or discuss the existence of this Agreement or any of
                  the terms hereof, its nature or its scope with any person
                  other than attorneys for the Company and officers, directors
                  and management employees of the Company who have a legitimate
                  need to know in order to maintain compliance with this
                  Agreement, unless the Company is compelled to disclose such
                  information pursuant to legal process.

         7.       Reich shall fully cooperate with the Company and, upon
                  reasonable notice, furnish such information and assistance to
                  the Company, at Company's expense, as may be required by the
                  Company in connection with the Company's defense or pursuit of
                  any litigation, administrative action or investigation in
                  which the Company or any of its subsidiaries, parent companies
                  or affiliates is or hereafter becomes a party. Reich affirms
                  that she has made no agreements, promises, representations,
                  express or implied, oral or written, or offered any
                  inducements on behalf of the Company that are not expressly
                  included in any contracts executed by the Company.

         8.       Violation of any provision of this Agreement by Reich will
                  entitle the Company, in addition to and not in limitation of
                  any and all other remedies available to the Company at law or
                  in equity, upon proper showing, (a) to reimbursement of all
                  monies paid to Reich pursuant to Paragraph 2 of this
                  Agreement, and (b) to payment by Reich of the gain in value of
                  the Company's common stock received pursuant to the Amended
                  Option Agreement, or if the options have not yet been
                  exercised, the termination of the Amended Option Agreements.
                  Violation of any provision of this Agreement by others who
                  have learned the information from Reich will subject Reich to
                  an action for breach of the Agreement.

         9.       Any dispute with respect to this Agreement or Reich's
                  employment with the Company shall be decided by arbitration,
                  in the City of West Palm Beach, Florida, pursuant to the rules
                  of the American Arbitration Association then in effect.
                  Florida law shall apply to every aspect of this Agreement,
                  including but not limited to the interpretation, application
                  and enforcement of the terms of this Agreement.

         10.      The parties agree that this Agreement sets forth all the
                  promises and agreements between them and supersedes all prior
                  and contemporaneous agreements, understandings, inducements or
                  conditions, express or implied, oral or written, except as
                  contained herein. Notwithstanding any other term herein, Reich
                  acknowledges and reaffirms her obligations in the Employee
                  Intellectual Property Agreement and understands that those
                  obligations remain effective following her separation from the
                  Company.

         11.      Both parties acknowledge that they have had the opportunity to
                  freely consult, if they so desire, with attorneys of their own
                  choosing prior to signing this document regarding the contents
                  and consequences of this document. The parties understand that
                  the payment and other matters agreed to herein are not to be
                  construed as an admission of or evidence of liability for any
                  violation of the law, willful or otherwise, by any person or
                  entity.

         12.      Reich acknowledges that she has had the opportunity to request
                  and receive from the Company any information she needs in
                  order to make a knowing and voluntary release of all claims
                  and that she has had a sufficient time to consider the
                  consequences of this Agreement and understands each of the
                  statements in this Agreement.

                                       3

<PAGE>

IN WITNESS WHEREOF, the parties hereby voluntarily and knowingly enter into this
unconditional Separation Agreement and Full Release.

                                       OCWEN FEDERAL BANK FSB

                                       ---------------------------
                                       By:
                                       Its:

                                       /s/ CHRISTINE A. REICH
                                       --------------------------
                                       Christine A. Reich

STATE OF FLORIDA           )
                           )SS
COUNTY OF PALM BEACH       )

         I hereby certify that on this __ day of March, 2001 personally appeared
Christine A. Reich, who is personally known to me, or who produced the following
as identification ___________________, and who acknowledged before me that she
executed the foregoing document as her free act and deed.

         In Witness Whereof, I have hereunto set my hand and seal in the State
and County aforesaid as of this __ day of March, 2001.

                                       -----------------------------------
                                       Notary Public Signature

                                       -----------------------------------
                                       Printed or Typed Name of Notary

                                       4

<PAGE>

                                                                       EXHIBIT A

            AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT

THIS AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT made in the City
of West Palm Beach, Florida as of January 31, 1998, between OCWEN FINANCIAL
CORPORATION, a Florida corporation (the "Corporation"), and Christine A. Reich,
an employee of the Corporation or of a subsidiary (the "Employee").

As of January 31, 1998 the Corporation and the Employee entered into a
Non-Qualified Stock Option Agreement (the "Original Agreement") regarding the
Option (as defined therein) to purchase 147,348 shares of the Corporation's
common stock, par value $.01 per share ("Stock"). A copy of the Original
Agreement is attached hereto as Exhibit 1.

The parties have entered into that Separation Agreement and Full Release dated
February 28, 2001 (the "Separation Agreement") which sets forth the terms and
conditions by which Employee separated from employment with the Corporation.

The Corporation and the Employee desire hereby to amend and restate the Original
Agreement in its entirety to provide, INTER ALIA, for the Options to vest
pursuant to the terms and conditions hereof.

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth
and for other good and valuable consideration, and intending to be legally bond
hereby, the parties hereto have agreed, and do hereby agree, as follows:

1.       OPTION GRANT

The Corporation hereby grants to the Employee, pursuant to and subject to the
1991 Plan, the right and option (the "Option") to purchase all or any part of an
aggregate of 147,348 shares of Stock from the Corporation for a purchase price
of $20.35 per share, on the terms and conditions herein set forth.

2.       OPTION TERM

The term of the Option shall begin on the date of this Agreement and will
continue until the date which is 18 months from the Consulting Termination Date,
as such term is defined in the Separation Agreement, unless the Option is
earlier terminated under the terms of paragraph 5 hereof.

3.       EXERCISE OF OPTION

The Option will be exercisable in whole or in part after the commencement of the
second year of the term of the Option and thereafter may, subject to the terms
and conditions of this Agreement, be exercised in whole or in part at any time
before it terminates. In no case may the Option be exercised as to less than 50
shares at any one time (or the remaining shares then purchasable under the
Option, if less than 50 shares). During the Employee's lifetime, the Option may
be exercised only by him/her or his/her guardian or legal representative. The
Employee shall have none of the rights of a stockholder with respect to any of
the shares of the Stock subject to the option until such shares shall be issued
in his/her name or the name of his/her designee following the exercise of the
Option.

4.       METHOD OF OPTION EXERCISE

A. Subject to the terms and conditions of this Agreement, the Option may be
exercised by written notice to the Corporation at its Executive Offices
attention of the Secretary. Such notice shall state the election to exercise the
Option, shall state the number of shares in respect of which it is being
exercised (the "Purchased Shares") and shall be signed by the person or persons
so exercising the Option. Such notice shall be accompanied by (i) a personal
check payable to the order of the Corporation for payment of the full purchase
price of the Purchased Shares, (ii) delivery to the Corporation of the number of
shares of Stock duly endorsed for transfer and owned by the Employee which have
an aggregate Fair Value equal to the aggregate purchase price of the Purchased
Shares or (iii) payment therefor made in such other manner as may be acceptable
to the Corporation on such terms as may be determined by the Committee. "Fair
Value" shall mean the book value of the Stock as determined by the Committee
pursuant to the 1991 Plan. In addition to and at the time of payment of the
purchase price, the person exercising the Option shall pay to the Corporation
the full amount of any federal and state withholding or other taxes applicable
to the taxable income of such person resulting from such exercise in cash unless
the Committee in its sole discretion shall permit such taxes to be paid in
Stock.

                                       5

<PAGE>

B. The Corporation shall deliver a certificate or certificates representing said
shares as soon as practicable after receipt of the notice and all required
payments by the person or persons exercising the Option as provided in paragraph
4A. hereof. The certificate or certificates for the shares as to which the
Option have been so exercised shall not be registered until at least five
business days after the date of the exercise of the Option. Unless the person or
persons exercising the Option shall otherwise direct the Corporation in writing,
such certificate or certificates for the shares shall be registered in the name
of the person or persons so exercising the Option and shall be delivered as
aforesaid to or upon the written order of the person or persons exercising the
Option.

C. In the event the Option shall be exercised, pursuant to paragraphs 3 and 5
hereof, by any person or persons other than the Employee, such notice shall be
accompanied by appropriate proof of the derivative right of such person or
persons to exercise the Option.

D. The date of exercise of the Option shall be the date on which the notice, the
documents and all payments required under this paragraph 4 are received by the
Secretary. All shares that shall be purchased upon the exercise of the Option as
provided herein shall be fully paid and non-assessable.

5.       TERMINATION OF OPTION

The Option may not be exercised to any extent after termination of the Option in
one of the ways, whichever first occurs, set forth below in this paragraph 5.

A. The Option shall terminate upon the exercise of such Option in the manner
provided in this Agreement and the 1991 Plan, whether or not the shares are
ultimately delivered.

B. The Option shall terminate on the date which is 18 months from the Consulting
Termination Date, as such term is defined in the Separation Agreement, in
accordance with paragraph 2 hereof.

6.       ADJUSTMENT UPON CHANGES IN STOCK

If there shall be any change in the stock subject to the Option granted
hereunder, through merger, consolidation, reorganization, recapitalization,
stock dividend, stock split or other change in the corporate structure,
appropriate adjustments may be made by the Board of Directors of the Corporation
(or if the Corporation is not the surviving corporation in any such transaction,
the Board of Directors of the surviving corporation) in the aggregate number and
kind of shares subject to the 1991 Plan and the number and kind of shares and
the price per share subject to the Option.

7.       NON-TRANSFERABILITY OF OPTION

The Option shall not be transferable otherwise than by will or by the applicable
laws of descent and distribution. More particularly (but without limiting the
generality of the foregoing), the Option may not be assigned, transferred
(except as aforesaid), pledged or hypothecated in any way (whether by operation
of law or otherwise) and shall not be subject to execution, attachment or
similar process. Any attempted assignment, transfer, pledge, hypothecation or
other disposition of the Option contrary to the provisions hereof, and the levy
of any execution, attachment or similar process upon the Option, shall be null
and void and without effect.

8.       PAYMENT OF EXPENSES AND COMPLIANCE WITH LAWS

The Corporation shall at all times during the term of the Option reserve and
keep available such number of shares of Stock as will be sufficient to satisfy
the requirements of this Agreement, shall pay all original issue and/or transfer
taxes with respect to the issue and/or transfer of shares pursuant hereto and
all other fees and expenses necessarily incurred by the Corporation in
connection therewith and will from time to time use its best efforts to comply
with all laws and regulations which, in the opinion of counsel for the
Corporation, shall be applicable thereto.

9.       DEFINITIONS

As used herein, the term "subsidiary" shall mean any corporation (other than the
Corporation) in an unbroken chain of corporations beginning with the Corporation
if each of the corporations, other than the last corporation in such chain, owns
stock possessing at least 50% of the voting power in one of the other
corporations in such chain.

10.      AMENDMENT

In the event that the Board of Directors of the Corporation shall amend the 1991
Plan under the provisions of Article VIII of the 1991 Plan and such amendment
shall modify or otherwise affect the subject matter of this Agreement, this
Agreement shall, to that extent, be deemed to be amended by such amendment to
the 1991 Plan. The Corporation shall notify the Employee in writing of any such
amendment to the 1991 Plan and this Agreement as soon as practicable after its
approval.

                                       6

<PAGE>

11.      CONSTRUCTION

In the event of any conflict between the 1991 Plan and this Agreement, the
provisions of the 1991 Plan shall control. This Agreement shall be governed in
all respects by the laws of the State of Florida.

12.      ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Corporation and the
Employee and supersedes all other discussions, correspondence, representations,
understandings and agreements between the parties, with respect to the subject
matter hereof.

13.      HEADINGS

The headings of the paragraphs of this Agreement are inserted for convenience
only and shall not be deemed a part hereof.

ATTEST:                                OCWEN FINANCIAL CORPORATION

By: /s/ JOHN R. ERBEY                       By: /s/ WILLIAM C. ERBEY
    -----------------                       ------------------------
    John R. Erbey, Secretary                William C. Erbey, Chairman
                                            and Chief Executive Officer

                                         EMPLOYEE

                                            By:
                                               ---------------------------------
                                               (Legal Signature)

                                            Name:
                                                 -------------------------------
                                                 (Print)

                                       7

<PAGE>

                                                                       EXHIBIT B

            AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT

THIS AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT made in the City
of West Palm Beach, Florida as of January 31, 1999, between OCWEN FINANCIAL
CORPORATION, a Florida corporation (the "Corporation"), and Christine A. Reich,
an employee of the Corporation or of a subsidiary (the "Employee").

As of January 31, 1999 the Corporation and the Employee entered into a
Non-Qualified Stock Option Agreement (the "Original Agreement") regarding the
Option (as defined therein) to purchase 12,572 shares of the Corporation's
common stock, par value $.01 per share ("Stock"). A copy of the Original
Agreement is attached hereto as Exhibit 1.

The parties have entered into that Separation Agreement and Full Release dated
February 28, 2001 (the "Separation Agreement") which sets forth the terms and
conditions by which Employee separated from employment with the Corporation.

The Corporation and the Employee desire hereby to amend and restate the Original
Agreement in its entirety to provide, INTER ALIA, for the Options to vest
pursuant to the terms and conditions hereof.

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth
and for other good and valuable consideration, and intending to be legally bond
hereby, the parties hereto have agreed, and do hereby agree, as follows:

1.       OPTION GRANT

The Corporation hereby grants to the Employee, pursuant to and subject to the
1991 Plan, the right and option (the "Option") to purchase all or any part of an
aggregate of 12,572 shares of Stock from the Corporation for a purchase price of
$12.3125 per share, on the terms and conditions herein set forth.

2.       OPTION TERM

The term of the Option shall begin on the date of this Agreement and will
continue until the date which is 18 months from the Consulting Termination Date,
as such term is defined in the Separation Agreement, unless the Option is
earlier terminated under the terms of paragraph 5 hereof.

3.       EXERCISE OF OPTION

One third of the Option will be exercisable in whole or in part after the
commencement of each of the second, third and fourth years of the term of the
Option and thereafter each such third may, subject to the terms and conditions
of this Agreement, be exercised in whole or in part at any time before the
Option terminates. In no case may the Option be exercised as to less than 50
shares at any one time (or the remaining shares then purchasable under the
Option, if less than 50 shares) or for a fractional share. During the Employee's
lifetime, the Option may be exercised only by him/her or his/her guardian or
legal representative. The Employee shall have none of the rights of a
stockholder with respect to any of the shares of the Stock subject to the option
until such shares shall be issued in his/her name or the name of his/her
designee following the exercise of the Option.

4.       METHOD OF OPTION EXERCISE

A. Subject to the terms and conditions of this Agreement, the Option may be
exercised by written notice to the Corporation at its Executive Offices
attention of the Secretary. Such notice shall state the election to exercise the
Option, shall state the number of shares in respect of which it is being
exercised (the "Purchased Shares") and shall be signed by the person or persons
so exercising the Option. Such notice shall be accompanied by (i) a personal
check payable to the order of the Corporation for payment of the full purchase
price of the Purchased Shares, (ii) delivery to the Corporation of the number of
shares of Stock duly endorsed for transfer and owned by the Employee which have
an aggregate Fair Value equal to the aggregate purchase price of the Purchased
Shares or (iii) payment therefor made in such other manner as may be acceptable
to the Corporation on such terms as may be determined by the Committee. "Fair
Value" shall mean the book value of the Stock as determined by the Committee
pursuant to the 1991 Plan. In addition to and at the time of payment of the
purchase price, the person exercising the Option shall pay to the Corporation
the full amount of any federal and state withholding or other taxes applicable
to the taxable income of such person resulting from such exercise in cash unless
the Committee in its sole discretion shall permit such taxes to be paid in
Stock.

                                       8

<PAGE>

B. The Corporation shall deliver a certificate or certificates representing said
shares as soon as practicable after receipt of the notice and all required
payments by the person or persons exercising the Option as provided in paragraph
4A. hereof. The certificate or certificates for the shares as to which the
Option have been so exercised shall not be registered until at least five
business days after the date of the exercise of the Option. Unless the person or
persons exercising the Option shall otherwise direct the Corporation in writing,
such certificate or certificates for the shares shall be registered in the name
of the person or persons so exercising the Option and shall be delivered as
aforesaid to or upon the written order of the person or persons exercising the
Option.

C. In the event the Option shall be exercised, pursuant to paragraphs 3 and 5
hereof, by any person or persons other than the Employee, such notice shall be
accompanied by appropriate proof of the derivative right of such person or
persons to exercise the Option.

D. The date of exercise of the Option shall be the date on which the notice, the
documents and all payments required under this paragraph 4 are received by the
Secretary. All shares that shall be purchased upon the exercise of the Option as
provided herein shall be fully paid and non-assessable.

5.       TERMINATION OF OPTION

The Option may not be exercised to any extent after termination of the Option in
one of the ways, whichever first occurs, set forth below in this paragraph 5.

A. The Option shall terminate upon the exercise of such Option in the manner
provided in this Agreement and the 1991 Plan, whether or not the shares are
ultimately delivered.

B. The Option shall terminate on the date which is 18 months from the Consulting
Termination Date, as such term is defined in the Separation Agreement, in
accordance with paragraph 2 hereof.

6.       ADJUSTMENT UPON CHANGES IN STOCK

If there shall be any change in the stock subject to the Option granted
hereunder, through merger, consolidation, reorganization, recapitalization,
stock dividend, stock split or other change in the corporate structure,
appropriate adjustments may be made by the Board of Directors of the Corporation
(or if the Corporation is not the surviving corporation in any such transaction,
the Board of Directors of the surviving corporation) in the aggregate number and
kind of shares subject to the 1991 Plan and the number and kind of shares and
the price per share subject to the Option.

7.       NON-TRANSFERABILITY OF OPTION

The Option shall not be transferable otherwise than by will or by the applicable
laws of descent and distribution. More particularly (but without limiting the
generality of the foregoing), the Option may not be assigned, transferred
(except as aforesaid), pledged or hypothecated in any way (whether by operation
of law or otherwise) and shall not be subject to execution, attachment or
similar process. Any attempted assignment, transfer, pledge, hypothecation or
other disposition of the Option contrary to the provisions hereof, and the levy
of any execution, attachment or similar process upon the Option, shall be null
and void and without effect.

8.       PAYMENT OF EXPENSES AND COMPLIANCE WITH LAWS

The Corporation shall at all times during the term of the Option reserve and
keep available such number of shares of Stock as will be sufficient to satisfy
the requirements of this Agreement, shall pay all original issue and/or transfer
taxes with respect to the issue and/or transfer of shares pursuant hereto and
all other fees and expenses necessarily incurred by the Corporation in
connection therewith and will from time to time use its best efforts to comply
with all laws and regulations which, in the opinion of counsel for the
Corporation, shall be applicable thereto.

                                        9

<PAGE>

9.       DEFINITIONS

As used herein, the term "subsidiary" shall mean any corporation (other than the
Corporation) in an unbroken chain of corporations beginning with the Corporation
if each of the corporations, other than the last corporation in such chain, owns
stock possessing at least 50% of the voting power in one of the other
corporations in such chain.

10.      AMENDMENT

In the event that the Board of Directors of the Corporation shall amend the 1991
Plan under the provisions of Article VIII of the 1991 Plan and such amendment
shall modify or otherwise affect the subject matter of this Agreement, this
Agreement shall, to that extent, be deemed to be amended by such amendment to
the 1991 Plan. The Corporation shall notify the Employee in writing of any such
amendment to the 1991 Plan and this Agreement as soon as practicable after its
approval.

11.      CONSTRUCTION

In the event of any conflict between the 1991 Plan and this Agreement, the
provisions of the 1991 Plan shall control. This Agreement shall be governed in
all respects by the laws of the State of Florida.

12.      ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Corporation and the
Employee and supersedes all other discussions, correspondence, representations,
understandings and agreements between the parties, with respect to the subject
matter hereof.

13.      HEADINGS

The headings of the paragraphs of this Agreement are inserted for convenience
only and shall not be deemed a part hereof.

ATTEST:                                OCWEN FINANCIAL CORPORATION

By: /s/ JOHN R. ERBEY                       By:/s/ WILLIAM C. ERBEY
    ------------------------                   --------------------------
    John R. Erbey, Secretary                   William C. Erbey, Chairman
                                               and Chief Executive Officer

                                         EMPLOYEE

                                            By:
                                               ---------------------------------
                                               (Legal Signature)

                                            Name:
                                                 -------------------------------
                                                 (Print)

                                       10

<PAGE>

                                                                      EXHIBIT C

            AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT

THIS AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT made in the City
of West Palm Beach, Florida as of March 7, 2000, between OCWEN FINANCIAL
CORPORATION, a Florida corporation (the "Corporation"), and Christine A. Reich,
an employee of the Corporation or of a subsidiary (the "Employee").

As of March 7, 2000 the Corporation and the Employee entered into a
Non-Qualified Stock Option Agreement (the "Original Agreement") regarding the
Option (as defined therein) to purchase 28,894 shares of the Corporation's
common stock, par value $.01 per share ("Stock"). A copy of the Original
Agreement is attached hereto as Exhibit 1.

The parties have entered into that Separation Agreement and Full Release dated
as of February 28, 2001 (the "Separation Agreement") which sets forth the terms
and conditions by which Employee separated from employment with the Corporation.

The Corporation and the Employee desire hereby to amend and restate the Original
Agreement in its entirety to provide, INTER ALIA, for the Options to vest
pursuant to the terms and conditions hereof.

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth
and for other good and valuable consideration, and intending to be legally bond
hereby, the parties hereto have agreed, and do hereby agree, as follows:

1.       OPTION GRANT

The Corporation hereby grants to the Employee, pursuant to and subject to the
1991 Plan, the right and option (the "Option") to purchase all or any part of an
aggregate of 28,894 shares of Stock from the Corporation for a purchase price of
$6.25 per share, on the terms and conditions herein set forth.

2.       OPTION TERM

The term of the Option shall begin on the date of this Agreement and will
continue until the date which is 18 months from the Consulting Termination Date,
as such term is defined in the Separation Agreement, unless the Option is
earlier terminated under the terms of paragraph 5 hereof.

3.       EXERCISE OF OPTION

One third of the Option will be exercisable in whole or in part after the
commencement of each of the second, third, fourth years of the term of the
Option and thereafter each such third may, subject to the terms and conditions
of this Agreement, be exercised in whole or in part at any time before the
Option terminates. In no case may the Option be exercised as to less than 50
shares at any one time (or the remaining shares then purchasable under the
Option, if less than 50 shares) or for a fractional share. During the Employee's
lifetime, the Option may be exercised only by him/her or his/her guardian or
legal representative. The Employee shall have none of the rights of a
stockholder with respect to any of the shares of the Stock subject to the option
until such shares shall be issued in his/her name or the name of his/her
designee following the exercise of the Option.

4.       METHOD OF OPTION EXERCISE

A. Subject to the terms and conditions of this Agreement, the Option may be
exercised by written notice to the Corporation at its Executive Offices
attention of the Secretary. Such notice shall state the election to exercise the
Option, shall state the number of shares in respect of which it is being
exercised (the "Purchased Shares") and shall be signed by the person or persons
so exercising the Option. Such notice shall be accompanied by (i) a personal
check payable to the order of the Corporation for payment of the full purchase
price of the Purchased Shares, (ii) delivery to the Corporation of the number of
shares of Stock duly endorsed for transfer and owned by the Employee which have
an aggregate Fair Value equal to the aggregate purchase price of the Purchased
Shares or (iii) payment therefor made in such other manner as may be acceptable
to the Corporation on such terms as may be determined by the Committee. "Fair
Value" shall mean the book value of the Stock as determined by the Committee
pursuant to the 1991 Plan. In addition to and at the time of payment of the
purchase price, the person exercising the Option shall pay to the Corporation
the full amount of any federal and state withholding or other taxes applicable
to the taxable income of such person resulting from such exercise in cash unless
the Committee in its sole discretion shall permit such taxes to be paid in
Stock.

                                       11

<PAGE>

B. The Corporation shall deliver a certificate or certificates representing said
shares as soon as practicable after receipt of the notice and all required
payments by the person or persons exercising the Option as provided in paragraph
4A. hereof. The certificate or certificates for the shares as to which the
Option have been so exercised shall not be registered until at least five
business days after the date of the exercise of the Option. Unless the person or
persons exercising the Option shall otherwise direct the Corporation in writing,
such certificate or certificates for the shares shall be registered in the name
of the person or persons so exercising the Option and shall be delivered as
aforesaid to or upon the written order of the person or persons exercising the
Option.

C. In the event the Option shall be exercised, pursuant to paragraphs 3 and 5
hereof, by any person or persons other than the Employee, such notice shall be
accompanied by appropriate proof of the derivative right of such person or
persons to exercise the Option.

D. The date of exercise of the Option shall be the date on which the notice, the
documents and all payments required under this paragraph 4 are received by the
Secretary. All shares that shall be purchased upon the exercise of the Option as
provided herein shall be fully paid and non-assessable.

5.       TERMINATION OF OPTION

The Option may not be exercised to any extent after termination of the Option in
one of the ways, whichever first occurs, set forth below in this paragraph 5.

A. The Option shall terminate upon the exercise of such Option in the manner
provided in this Agreement and the 1991 Plan, whether or not the shares are
ultimately delivered.

B. The Option shall terminate on the date which is 18 months from the Consulting
Termination Date, as such term is defined in the Separation Agreement, in
accordance with paragraph 2 hereof.

6.       ADJUSTMENT UPON CHANGES IN STOCK

If there shall be any change in the stock subject to the Option granted
hereunder, through merger, consolidation, reorganization, recapitalization,
stock dividend, stock split or other change in the corporate structure,
appropriate adjustments may be made by the Board of Directors of the Corporation
(or if the Corporation is not the surviving corporation in any such transaction,
the Board of Directors of the surviving corporation) in the aggregate number and
kind of shares subject to the 1991 Plan and the number and kind of shares and
the price per share subject to the Option.

7.       NON-TRANSFERABILITY OF OPTION

The Option shall not be transferable otherwise than by will or by the applicable
laws of descent and distribution. More particularly (but without limiting the
generality of the foregoing), the Option may not be assigned, transferred
(except as aforesaid), pledged or hypothecated in any way (whether by operation
of law or otherwise) and shall not be subject to execution, attachment or
similar process. Any attempted assignment, transfer, pledge, hypothecation or
other disposition of the Option contrary to the provisions hereof, and the levy
of any execution, attachment or similar process upon the Option, shall be null
and void and without effect.

8.       PAYMENT OF EXPENSES AND COMPLIANCE WITH LAWS

The Corporation shall at all times during the term of the Option reserve and
keep available such number of shares of Stock as will be sufficient to satisfy
the requirements of this Agreement, shall pay all original issue and/or transfer
taxes with respect to the issue and/or transfer of shares pursuant hereto and
all other fees and expenses necessarily incurred by the Corporation in
connection therewith and will from time to time use its best efforts to comply
with all laws and regulations which, in the opinion of counsel for the
Corporation, shall be applicable thereto.

                                       12

<PAGE>

9.       DEFINITIONS

As used herein, the term "subsidiary" shall mean any corporation (other than the
Corporation) in an unbroken chain of corporations beginning with the Corporation
if each of the corporations, other than the last corporation in such chain, owns
stock possessing at least 50% of the voting power in one of the other
corporations in such chain.

10.      AMENDMENT

In the event that the Board of Directors of the Corporation shall amend the 1991
Plan under the provisions of Article VIII of the 1991 Plan and such amendment
shall modify or otherwise affect the subject matter of this Agreement, this
Agreement shall, to that extent, be deemed to be amended by such amendment to
the 1991 Plan. The Corporation shall notify the Employee in writing of any such
amendment to the 1991 Plan and this Agreement as soon as practicable after its
approval.

11.      CONSTRUCTION

In the event of any conflict between the 1991 Plan and this Agreement, the
provisions of the 1991 Plan shall control. This Agreement shall be governed in
all respects by the laws of the State of Florida.

12.      ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Corporation and the
Employee and supersedes all other discussions, correspondence, representations,
understandings and agreements between the parties, with respect to the subject
matter hereof.

13.      HEADINGS

The headings of the paragraphs of this Agreement are inserted for convenience
only and shall not be deemed a part hereof.

ATTEST:                                OCWEN FINANCIAL CORPORATION

By: /s/ JOHN R. ERBEY                       By: /s/ WILLIAM C. ERBEY
    -----------------                           --------------------
    John R. Erbey, Secretary                    William C. Erbey, Chairman
                                                and Chief Executive Officer

                                         EMPLOYEE

                                            By:
                                               ---------------------------------
                                               (Legal Signature)

                                            Name:
                                                 -------------------------------
                                                 (Print)

                                       13

<PAGE>

                                                                       EXHIBIT D

            AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT

THIS AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT made in the City
of West Palm Beach, Florida as of January 31, 2001, between OCWEN FINANCIAL
CORPORATION, a Florida corporation (the "Corporation"), and Christine A. Reich,
an employee of the Corporation or of a subsidiary (the "Employee").

As of January 1, 2001 the Corporation and the Employee entered into a
Non-Qualified Stock Option Agreement (the "Original Agreement") regarding the
Option (as defined therein) to purchase 85,790 shares of the Corporation's
common stock, par value $.01 per share ("Stock"). A copy of the Original
Agreement is attached hereto as Exhibit 1.

The parties have entered into that Separation Agreement and Full Release dated
as of February 28, 2001 (the "Separation Agreement") which sets forth the terms
and conditions by which Employee separated from employment with the Corporation.

The Corporation and the Employee desire hereby to amend and restate the Original
Agreement in its entirety to provide, INTER ALIA, for the Options to vest
pursuant to the terms and conditions hereof.

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth
and for other good and valuable consideration, and intending to be legally bond
hereby, the parties hereto have agreed, and do hereby agree, as follows:

1.       OPTION GRANT

The Corporation hereby grants to the Employee, pursuant to and subject to the
1991 Plan, the right and option (the "Option") to purchase all or any part of an
aggregate of 85,790 shares of Stock from the Corporation for a purchase price of
$4.08625 per share, on the terms and conditions herein set forth.

2.       OPTION TERM

The term of the Option shall begin on the date of this Agreement and will
continue until the date which is 18 months from the Consulting Termination Date,
as such term is defined in the Separation Agreement, unless the Option is
earlier terminated under the terms of paragraph 5 hereof.

3.       EXERCISE OF OPTION

One fifth of the Option will be exercisable in whole or in part immediately upon
grant and one fourth of the of the balance of the Option will be exercisable in
whole or in part after the commencement of each of the second, third, fourth and
fifth years of the term of the Option and thereafter each such portion may,
subject to the terms and conditions of this Agreement, be exercised in whole or
in part at any time before the Option terminates. In no case may the Option be
exercised as to less than 50 shares at any one time (or the remaining shares
then purchasable under the Option, if less than 50 shares) or for a fractional
share. During the Employee's lifetime, the Option may be exercised only by
him/her or his/her guardian or legal representative. The Employee shall have
none of the rights of a stockholder with respect to any of the shares of the
Stock subject to the option until such shares shall be issued in his/her name or
the name of his/her designee following the exercise of the Option.

4.       METHOD OF OPTION EXERCISE

A. Subject to the terms and conditions of this Agreement, the Option may be
exercised by written notice to the Corporation at its Executive Offices
attention of the Secretary. Such notice shall state the election to exercise the
Option, shall state the number of shares in respect of which it is being
exercised (the "Purchased Shares") and shall be signed by the person or persons
so exercising the Option. Such notice shall be accompanied by (i) a personal
check payable to the order of the Corporation for payment of the full purchase
price of the Purchased Shares, (ii) delivery to the Corporation of the number of
shares of Stock duly endorsed for transfer and owned by the Employee which have
an aggregate Fair Value equal to the aggregate purchase price of the Purchased
Shares or (iii) payment therefor made in such other manner as may be acceptable
to the Corporation on such terms as may be determined by the Committee. "Fair
Value" shall mean the book value of the Stock as determined by the Committee
pursuant to the 1991 Plan. In addition to and at the time of payment of the
purchase price, the person exercising the Option shall pay to the Corporation
the full amount of any federal and state withholding or other taxes applicable
to the taxable income of such person resulting from such exercise in cash unless
the Committee in its sole discretion shall permit such taxes to be paid in
Stock.

                                       14

<PAGE>

B. The Corporation shall deliver a certificate or certificates representing said
shares as soon as practicable after receipt of the notice and all required
payments by the person or persons exercising the Option as provided in paragraph
4A. hereof. The certificate or certificates for the shares as to which the
Option have been so exercised shall not be registered until at least five
business days after the date of the exercise of the Option. Unless the person or
persons exercising the Option shall otherwise direct the Corporation in writing,
such certificate or certificates for the shares shall be registered in the name
of the person or persons so exercising the Option and shall be delivered as
aforesaid to or upon the written order of the person or persons exercising the
Option.

C. In the event the Option shall be exercised, pursuant to paragraphs 3 and 5
hereof, by any person or persons other than the Employee, such notice shall be
accompanied by appropriate proof of the derivative right of such person or
persons to exercise the Option.

D. The date of exercise of the Option shall be the date on which the notice, the
documents and all payments required under this paragraph 4 are received by the
Secretary. All shares that shall be purchased upon the exercise of the Option as
provided herein shall be fully paid and non-assessable.

5.       TERMINATION OF OPTION

The Option may not be exercised to any extent after termination of the Option in
one of the ways, whichever first occurs, set forth below in this paragraph 5.

A. The Option shall terminate upon the exercise of such Option in the manner
provided in this Agreement and the 1991 Plan, whether or not the shares are
ultimately delivered.

B. The Option shall terminate on the date which is 18 months from the Consulting
Termination Date, as such term is defined in the Separation Agreement, in
accordance with paragraph 2 hereof.

6.       ADJUSTMENT UPON CHANGES IN STOCK

If there shall be any change in the stock subject to the Option granted
hereunder, through merger, consolidation, reorganization, recapitalization,
stock dividend, stock split or other change in the corporate structure,
appropriate adjustments may be made by the Board of Directors of the Corporation
(or if the Corporation is not the surviving corporation in any such transaction,
the Board of Directors of the surviving corporation) in the aggregate number and
kind of shares subject to the 1991 Plan and the number and kind of shares and
the price per share subject to the Option.

7.       NON-TRANSFERABILITY OF OPTION

The Option shall not be transferable otherwise than by will or by the applicable
laws of descent and distribution. More particularly (but without limiting the
generality of the foregoing), the Option may not be assigned, transferred
(except as aforesaid), pledged or hypothecated in any way (whether by operation
of law or otherwise) and shall not be subject to execution, attachment or
similar process. Any attempted assignment, transfer, pledge, hypothecation or
other disposition of the Option contrary to the provisions hereof, and the levy
of any execution, attachment or similar process upon the Option, shall be null
and void and without effect.

8.       PAYMENT OF EXPENSES AND COMPLIANCE WITH LAWS

The Corporation shall at all times during the term of the Option reserve and
keep available such number of shares of Stock as will be sufficient to satisfy
the requirements of this Agreement, shall pay all original issue and/or transfer
taxes with respect to the issue and/or transfer of shares pursuant hereto and
all other fees and expenses necessarily incurred by the Corporation in
connection therewith and will from time to time use its best efforts to comply
with all laws and regulations which, in the opinion of counsel for the
Corporation, shall be applicable thereto.

                                       15

<PAGE>

9.       DEFINITIONS

As used herein, the term "subsidiary" shall mean any corporation (other than the
Corporation) in an unbroken chain of corporations beginning with the Corporation
if each of the corporations, other than the last corporation in such chain, owns
stock possessing at least 50% of the voting power in one of the other
corporations in such chain.

10.      AMENDMENT

In the event that the Board of Directors of the Corporation shall amend the 1991
Plan under the provisions of Article VIII of the 1991 Plan and such amendment
shall modify or otherwise affect the subject matter of this Agreement, this
Agreement shall, to that extent, be deemed to be amended by such amendment to
the 1991 Plan. The Corporation shall notify the Employee in writing of any such
amendment to the 1991 Plan and this Agreement as soon as practicable after its
approval.

11.      CONSTRUCTION

In the event of any conflict between the 1991 Plan and this Agreement, the
provisions of the 1991 Plan shall control. This Agreement shall be governed in
all respects by the laws of the State of Florida.

12.      ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Corporation and the
Employee and supersedes all other discussions, correspondence, representations,
understandings and agreements between the parties, with respect to the subject
matter hereof.

13.      HEADINGS

The headings of the paragraphs of this Agreement are inserted for convenience
only and shall not be deemed a part hereof.

ATTEST:                                OCWEN FINANCIAL CORPORATION

By: /s/ JOHN R. ERBEY                       By:/s/ WILLIAM C. ERBEY
    -----------------                          --------------------
    John R. Erbey, Secretary                   William C. Erbey, Chairman
                                               and Chief Executive Officer

                                         EMPLOYEE

                                            By:
                                               ---------------------------------
                                               (Legal Signature)

                                            Name:
                                                 -------------------------------
                                                 (Print)

                                       16EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT ("Agreement") is entered into as of October
25, 2000, between ENTREPORT CORPORATION, a Florida corporation (collectively
"Employer"), and BRUCE PETERSON ("Employee").

                                 R E C I T A L S
                                 ---------------

         A. Employer is engaged in various aspects of web development services
business, including building Internet portals for industry niches, delivering
training, continuing education and coaching online.

         B. Employee desires to join the Employer as its President of the real
estate division currently known as iSucceed.com.

         C. To set forth the terms and conditions of his employment with the
Employer, the Employee desires to enter into this Agreement.

         NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and agreements set forth herein, Employer and Employee, intending to
be legally bound, hereby agree as follows:

                                A G R E E M E N T

         1. TERM OF EMPLOYMENT. Employer hereby employs Employee, and Employee
hereby accepts employment with Employer, for a period of three (3) years
beginning upon the signing of a separate definitive Agreement and Plan of Merger
(between University.com and EntrePort Corporation) and terminating three years
thereafter ("Employment Period"); provided that this Agreement shall be
automatically renewed for successive one (1) year terms unless either party
elects not to renew this Agreement by delivering written notice of its election
to the other party no later than one hundred eighty (180) days prior to the end
of the current term. Notwithstanding anything in this Section 1 to the contrary,
this Agreement may be terminated at any time in accordance with Section 6.

         2. DUTIES OF EMPLOYEE. Employee shall serve in the capacity as
President of the real estate division currently known as iSucceed.com at
Employer's office in Minneapolis, Minnesota, or at such other place as Employer
may direct, except for periods of temporary travel that are deemed necessary for
purposes of fulfilling Employee's responsibilities hereunder. Employee may be
required to travel to or from Employer's parent company's offices located in
Vista, California as needed.

         Employee shall have the responsibility to generally and actively
supervise and manage all the business activities and functions of the Employer
and its subordinate officers, agents and employees. Except during vacation
periods or in accordance with Employer's personnel policies covering executive

<PAGE>

leaves and reasonable periods of illness or other incapacitation, Employee shall
devote his services to Employer's business and interests in a manner consistent
with Employee's title and office and Employer's needs for his services. Employee
shall perform the duties of Employee's office and those assigned to Employee by
the Employer's President or Chairman with fidelity, to the best of Employee's
ability, and in the best interest of Employer. During the term of this
Agreement, the Employee shall devote his entire productive time, attention,
knowledge and skill to the business and interest of the Employer as contemplated
in this Agreement. The Employee further agrees to devote all of his skills and
efforts to the performance of, and to perform diligently and on a timely basis,
such duties as shall be assigned to the Employee from time to time by the
Employer's President or Chairman so long as such other services and duties are
not inconsistent with any other term of this Agreement.

         3. COMPENSATION OF EMPLOYEE. As compensation for Employee's services
hereunder, Employee shall receive a base salary of One Hundred Thousand Dollars
($100,000) per annum, payable in semi-monthly installments of Four Thousand One
Hundred Sixty-Six and 66/100 Dollars ($4,166.66) each, or a ratable portion
thereof for periods of less than one-half month.

         Employee shall be entitled to a salary increase to One Hundred Fifty
Thousand Dollars ($150,000) on the 90th day following Employee's execution of
that certain definitive Agreement and Plan of Merger between University.com and
EntrePort Corporation. Employee shall be entitled to an additional salary
increase to Two Hundred Thousand Dollars ($200,000) when Employer has raised at
least Ten Million Dollars ($10,000,000) in connection with any one offering or
capital investment.

         4. EXPENSE REIMBURSEMENTS. Employee shall be reimbursed for reasonable
and actual out-of-pocket expenses incurred by Employee in performance of
Employee's duties and responsibilities hereunder in accordance with Employer's
established personnel policy covering executive officer expense reimbursements,
as such policy may be amended, revised or otherwise changed from time to time.
Such expenses include airfare and lodging when Employee is required to travel to
Vista, California. Employer reserves the right to book and pay for airfare and
lodging to the extent it is more economical to do so. Employee shall furnish
proper vouchers and expense reports and shall be reimbursed only for those
expenses which shall be reimbursable.

         In addition, Employer shall pay to Employee a non-accountable monthly
automobile allowance of Five Hundred Dollars ($500.00) per month. Employee shall
be responsible for all accounting and costs, including maintenance, fuel, lease
payments, insurance, and the like, associated with such automobile.

         For Employee's travel between Minneapolis, Minnesota and Vista,
California, Employer reserves the right to make arrangements for Employee's
lodging consistent with the most economical manner for Employer, including but
not limited to, the use of a corporate apartment or residence.

<PAGE>

         5. VACATION, SICK LEAVE AND OTHER FRINGE BENEFITS. Employee shall be
entitled to two (2) weeks vacation for each twelve (12) month period of
employment hereunder. Employee shall also be entitled to leaves for illness or
other incapacitation as is consistent with Employee's title and Employer's needs
for Employee's services, except as otherwise provided for in Section 6.2.
Employee shall be entitled during Employee's employment hereunder to share or
participate in such medical insurance programs or other "fringe" benefit plans
or programs as shall be made available to executive officers employed by
Employer generally, in accordance with Employer's established personnel
policies, if any, or as established, amended, revised or otherwise changed from
time to time, covering executive officer employee benefits.

         6. TERMINATION.
            -----------

                  6.1 TERMINATION BY EMPLOYER FOR CAUSE. Employer may terminate
this Agreement and Employee's employment hereunder for Cause (as defined herein)
any time effective upon written notice to Employee. As used herein, the term
"Cause" shall mean:

                           6.1.1 Habitual neglect in the performance of
Employee's material duties as set forth in Section 2 which continues uncorrected
for a period of ten (10) days after written notice thereof by Employer to
Employee; or

                           6.1.2 Negligence involving misfeasance or nonfeasance
by Employee in the performance of Employee's material duties as set forth in
Section 2 which continues uncorrected for a period of ten (10) days after
written notice thereof by Employer to Employee; or

                           6.1.3 A material breach of that certain Agreement and
Plan of Merger entered into by Employee.

                           6.1.4 Insubordination or nonfeasance by Employee of
any services or duties as may be assigned to Employee by the Board of Directors,
except to the extent that such services or duties would involve a violation of
law or materially expand or conflict with Employee's duties set forth in Section
2.

                           6.1.5 A breach of Employee's fiduciary obligations or
duty of loyalty as an officer of Employer and director of Employer's Parent
Company's Board of Directors.

                  6.2 TERMINATION UPON DEATH OR DISABILITY. This Agreement and
Employee's employment hereunder shall terminate upon Employee's death or
Disability (as defined herein). For this purpose, "Disability" means incapacity,
whether by reason of physical or mental illness or disability, which prevents
Employee from substantially performing Employee's material duties as set forth
in Section 2 for thirty (30) days, or for shorter periods aggregating thirty
(30) days in any twelve (12) successive calendar months. Upon termination for
Disability, unless Employer shall have in force a disability insurance policy
providing for benefits in an amount at least equal to the benefits provided in

<PAGE>

this Section 6.2, Employer shall continue to pay the base compensation payments
pursuant to Section 3 to the Employee until the date thirty (30) days following
the effective date of Disability. Upon termination for death, Employer shall
continue to pay the base compensation payments pursuant to Section 3 to the
surviving spouse of Employee (or if there is none to Employee's estate) until
the date thirty (30) days following the date of death. Termination for death
shall become effective upon the occurrence of such event and termination for
Disability shall become effective upon written notice by Employer to Employee.

                  6.3 EVENTS UPON TERMINATION. The termination of this Agreement
pursuant to Section 6 shall also result in the termination of all rights and
benefits of Employee under this Agreement except for any rights to compensation
accrued under Section 3 prior to the date of termination or rights to expense
reimbursement under Section 4 and, upon death of Disability as provided in
Section 6.2, the rights provided in Section 6.2 hereof.

         7. EMPLOYEE'S REPRESENTATIONS. Employee represents and warrants that
Employee is free to enter into this Agreement and to perform each of the
provisions contained herein. Employee represents and warrants that Employee is
not restricted or prohibited, contractually or otherwise, from entering into and
performing this Agreement, and that Employee's execution and performance of this
Agreement is not a violation or breach of any agreement between Employee and any
other person or entity. Upon commencement of employment, Employee will be
required to sign an acknowledgement of receipt of employee manual, assignment of
inventions agreement, and arbitration agreement.

         8. CONFIDENTIALITY AND CONFIDENTIAL INFORMATION. Employee agrees to
regard and preserve as confidential all information obtained by Employee
relating or pertaining to (i) Employer's business, projects, plans, products,
services planned or proposed products or services, customers, potential
customers, identity and buying habits and preferences of customers and potential
customers, trade secrets, and other confidential information (including
business, financial and technical information, including computer programs,
software and unpublished know-how, whether patented or unpatented), and to (ii)
all of Employee's activities for or on behalf of Employer, and Employee agrees
not to publish or disclose any part of such information to others or use the
same for Employee's own purposes or the purposes of others, during the term of
Employee's employment by Employer or thereafter. Any information of Employer
which is not readily available to the public shall be considered by Employee to
be confidential information unless Employer advises Employee otherwise in
writing. Employee further agrees to preserve as confidential the confidential
information of any third party to which Employee may have access and to treat
such information as though it were Employer confidential information. Nothing
contained herein shall be construed to reduce or eliminate Employee's
obligations of confidentiality under that certain Agreement and Plan of Merger.

         9. GENERAL PROVISIONS.
            -------------------

                  9.1 SEVERABLE PROVISIONS. The provisions of this Agreement are
severable, and if any one or more provisions may be determined to be judicially
unenforceable, in whole or in part, the remaining provisions shall nevertheless
be binding and enforceable.

<PAGE>

                  9.2 ASSIGNMENT. Neither this Agreement nor any of the rights
or obligations of Employee or Employer hereunder shall be assignable.

                  9.3 NOTICES. Any notice to be given to Employer under the
terms of this Agreement shall be addressed to Employer at the address of
Employer's principal place of business, and any notice to be given to Employee
shall be addressed to Employee at his home address last shown on the records of
Employer, or at such other address as either party may hereafter designate in
writing to the other. Any notice required or permitted under this Agreement
shall be in writing and shall be deemed effective: (i) upon receipt in the event
of delivery by hand, including delivery made by private delivery or overnight
mail service where either the recipient or delivery agent executes a written
receipt or confirmation of delivery; or (ii) 48 hours after deposited in the
United States mail, registered or certified mail, return receipt requested,
postage prepaid.

                  9.4 WAIVER. Either party's failure to enforce any provision or
provisions of this Agreement shall not in any way be construed as a waiver of
any such provision or provisions, or prevent that party thereafter from
enforcing each and every other provision of this Agreement.

                  9.5 ENTIRE AGREEMENT; AMENDMENTS. This Agreement supersedes
any and all other agreements, either oral or in writing, between the parties
hereto with respect to the employment of Employee by Employer and contains all
of the covenants and agreements between the parties with respect to the
employment of Employee by Employer. Each party to this Agreement acknowledges
that no representations, inducements, promises or agreements, orally or
otherwise, have been made by any party, or anyone acting on behalf of any party,
which are not embodied herein, and that no other agreement, statement or promise
not contained in this Agreement will be effective only if it is in writing
signed by the party to be charged. Notwithstanding the above, the parties agree
that the certain Agreement and Plan of Merger is unaffected by this Agreement
and all documents required to be executed pursuant to Section 7 above will be
deemed executed concurrently with the execution of this Agreement.

                  9.6 TITLES AND HEADINGS. Titles and headings to sections of
this Agreement are for the purpose of reference only and shall in no way limit,
define or otherwise affect the interpretation or construction of such
provisions.

                  9.7 GOVERNING LAW. This Agreement shall be governed by and
construed in accordance with the laws of the State of California.

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.

                                                     "EMPLOYER"

                                                     ENTREPORT CORPORATION,
                                                     a Florida corporation

                                            By: /s/ William A. Shue
                                               --------------------------
                                               William A. Shue, President

                                                  "EMPLOYEE"

                                               /s/ BRUCE PETERSON
                                               --------------------------
                                               BRUCE PETERSON

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