Document:

[Alternative Construction Technologies Corporation LOGO]
1900 S Harbor City Blvd. Suite 315
Melbourne, Fl 32901
321-308-0834-321-308-0320 Fax

                               Summary Agreement
                                    Between
               Alternative Construction Technologies Corporation
                                      and
                             Phoenix Metals Company

This document has been designed to summarize the verbal agreement between
Alternative Construction Technologies Corporation ("ACT") a subsidiary of
Alternative Construction Company, Inc. and Phoenix Metals Company ("Phoenix").

Phoenix supplies ACT with steel for the manufacturing of structural insulated
panels ("SIP"s).

Phoenix has given ACT a $500,000 credit line with terms of net 30. There are no
other special terms associated with this verbal agreement.

AGREED BY

/s/ Illegible
-------------------------------
Phoenix Metals CompanyEX 10.1

    EXHIBIT
      10.1

    

    Employment
      Agreement

    

    THIS
      EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of July 27,
      2006 and shall be effective as of August 8, 2006 (the “Effective Date”) by and
      between Patient Safety Technologies, Inc., a Delaware corporation, with an
      office located at 1800 Century Park East, Suite 200, Los Angeles, California
      90067 (the “Company”) and Milton “Todd” Ault, III, an
      individual, with an address at 1800 Century Park East, Suite 200, Los Angeles,
      California 90067 (“Individual”).

    

    WHEREAS,
      the Company is in the business of acting as a holding company for patient safety
      and certain other related and non-related businesses; and 

    

    WHEREAS,
      Individual has had experience in the operations of holding companies in the
      types of businesses in which the Company is engaged; 

    

    WHEREAS,
      the Company desires to retain the services of Individual; and

    

    WHEREAS,
      Individual is willing to be employed by the Company.

    

    NOW,
      THEREFORE, in consideration of the mutual covenants contained herein, the
      parties agree as follows:

     

    1.
      Employment.
      Individual is hereby employed and engaged to serve the Company as its Chief
      Executive Officer, or such additional titles as the Company shall specify from
      time to time, and Individual does hereby accept, and Individual hereby agrees
      to
      such engagement and employment but only on an interim basis until a new Chief
      Executive Officer can be appointed. 

    

    2.
      Duties.
      Individual shall be responsible for the overall development, operations and
      corporate governance of the Company. In addition, Individual’s duties shall be
      such duties and responsibilities as the Company shall specify from time to
      time,
      and shall entail those duties customarily performed by the Chief Executive
      Officer of a company with a sales volume and number of employees commensurate
      with those of the Company. Individual shall have such authority, discretion,
      power and responsibility, and shall be entitled to office, secretarial and
      other
      facilities and conditions of employment, as are customary or appropriate to
      his
      position. Individual shall diligently and faithfully execute and perform such
      duties and responsibilities, subject to the general supervision and control
      of
      the Company’s Board of Directors. Individual shall be responsible and report
      only to the Company’s Board of Directors. The Company’s Board of Directors, in
      its sole and absolute discretion, shall determine Individual’s duties and
      responsibilities and may assign or reassign Individual to such duties and
      responsibilities as it deems in the Company's best interest. Individual shall
      devote his full-time attention, energy, and skill during normal business hours
      to the business and affairs of the Company and shall not, during the Employment
      Term, as that term is defined below, be actively engaged in any other business
      activity, except with the consent of the Company’s Board of Directors.

    

    Nothing
      in this Agreement shall preclude Individual from devoting reasonable periods
      required for:

    

    
      	 	
              (a)

            	
              serving
                as a director or member of a committee of any organization or corporation
                involving no conflict of interest with the interests of the
                Company;

            

    

    

    
      	 	
              (b)

            	
              serving
                as a consultant in his area of expertise (in areas other than in
                connection with the business of the Company), to government, industrial,
                and academic panels where it does not conflict with the interests
                of the
                Company; and

            

    

    

    
      	 	
              (c)

            	
              managing
                his personal investments or engaging in any other non-competing business;
                provided
                that such activities do not materially interfere with the regular
                performance of his duties and responsibilities under this Agreement
                as
                determined by the Company.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.
      Best Efforts of Individual.
      During
      his employment hereunder, Individual shall, subject to the direction and
      supervision of the Company’s Board of Directors, devote his full business time,
      best efforts, business judgment, skill, and knowledge to the advancement of
      the
      Company's interests and to the discharge of his duties and responsibilities
      hereunder. Notwithstanding the foregoing, nothing herein shall be construed
      as
      preventing Individual from investing his assets in any business.

    

    4.
      Employment Term.
      Unless
      terminated pursuant to Section 12 of this Agreement, the term of this Agreement
      shall commence as of the Effective Date of this Agreement and shall continue
      for
      a term of one (1) year (the “Initial Term”), and shall be automatically renewed
      for successive one (1) year terms (the “Renewal Term”) unless a party hereto
      delivers to the other party written notice of such party's intention not to
      renew at least thirty (30) days prior to the end of the Initial Term or the
      applicable Renewal Term, as the case may be. (The terms “Initial Term” and
“Renewal Term” will collectively hereinafter be referred to as the “Employment
      Term”). 

    

    5.
      Compensation of Individual. 

    

    
      	 	
              (a)

            	
              Base
                Compensation.
                As
                compensation for the services provided by Individual under this Agreement,
                the Company shall pay Individual an annual salary of One Dollar ($1.00)
                during the Employment Term, renegotiable prior to the commencement
                any
                Renewal Term. Upon each subsequent one (1) year renewal of Individual’s
                employment in accordance with Section 4, the Company shall increase
                Individual’s annual salary by no less than ten percent (10%). The
                compensation of Individual under this Section shall be paid in accordance
                with the Company's usual payroll procedures.

            

    

    

    
      	 	
              (b)

            	
              Bonus.
                In
                addition to the above base compensation, Individual shall be eligible
                to
                receive an annual bonus determined by the Board of Directors based
                on the
                financial performance of the Company. Any bonus shall be payable
                in stock
                and/or cash. 

            

    

    

    
      	 	
              (c)

            	
              Stock
                and Stock Options.
                Individual shall also receive shares of the Company’s authorized stock and
                options to purchase shares of the Company’s authorized stock from time to
                time as determined by the Board of Directors. For the Initial Term,
                under
                that certain Agreement Regarding Severance or Separation dated May
                24,
                2006 between Individual and the Company (the “Severance Agreement”),
                individual shall receive, pursuant to an agreement to convert to
                restricted shares of common stock the cash compensation that was
                otherwise
                due under the Severance Agreement, the number of shares at $2.74
                per share
                (the closing price on June 27, 2006) that represent the full amount
                of his
                compensation due, which is $180,000, less shares for the amount of
                that
                $180,000 already received, which is $40,000. Individual shall therefore
                receive 51,095 shares of restricted common stock of the Company in
                lieu of
                the cash compensation otherwise due under the Severance Agreement.
                

            

    

    

    6.
      Benefits. Individual
      shall also be entitled to participate in any and all Company benefit plans,
      from
      time to time, in effect for employees of the Company. Such participation shall
      be subject to the terms of the applicable plan documents and generally
      applicable Company policies.

    

    7.
      Vacation, Sick Leave and Holidays.
      Individual shall be entitled to three (3) weeks of paid vacation, with such
      vacation to be scheduled and taken in accordance with the Company's standard
      vacation policies. In addition, Individual shall be entitled to such sick leave
      and holidays at full pay in accordance with the Company's policies established
      and in effect from time to time.

    

    8.
      Business Expenses.
      The
      Company shall promptly reimburse Individual for all reasonable out-of-pocket
      business expenses incurred in performing Individual’s duties and
      responsibilities hereunder in accordance with the Company's policies, provided
      Individual promptly furnishes to the Company adequate records of each such
      business expense.

    

    9.
      Location of Individual's Activities. Individual’s
      principal place of business in the performance of his duties and obligations
      under this Agreement shall be at a place to be determined by the Board of
      Directors, initially at the Company’s offices at 1800 Century Park East, Suite
      200, Los Angeles, California. Notwithstanding the preceding sentence, Individual
      will engage in such travel and spend such time in other places as may
      be

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    necessary
      or appropriate in furtherance of his duties hereunder.

    

    10.
      Confidentiality.
      Individual recognizes that the Company has and will have business affairs,
      products, future plans, trade secrets, customer lists, and other vital
      information (collectively "Confidential Information") that are valuable assets
      of the Company. Individual agrees that he shall not at any time or in any
      manner, either directly or indirectly, divulge, disclose, or communicate in
      any
      manner any Confidential Information to any third party without the prior written
      consent of the Company’s Board of Directors. Individual will protect the
      Confidential Information and treat it as strictly confidential.

    

    11.
      Non-Solicitation.
      Individual acknowledges that he has gained, and will gain extensive knowledge
      in
      the business conducted by the Company and has had, and will have, extensive
      contacts with customers of the Company. Accordingly, Individual agrees that
      during his employment with the Company and for a period of one (1) year
      immediately following termination (voluntary or otherwise), Individual shall
      not
      directly or indirectly solicit clients or customers of the Company, to the
      extent that the existence of such clients or customers constitute “Confidential
      Information” as defined in Section 10 above. In addition, individual agrees that
      for a period of one (1) year immediately following termination (voluntary or
      otherwise) of Individual’s employment with the Company, he shall not solicit any
      Company employee to leave the Company’s employ or any Company consultant to
      sever the consultant’s relationship with the Company. 

    

    12.
      Termination.
      Notwithstanding any other provisions hereof to the contrary, Individual’s
      employment hereunder shall terminate under the following
      circumstances:

    

    
      	 	
              (a)

            	
              Voluntary
                Termination by Individual.
                Individual shall have the right to voluntarily terminate this Agreement
                and his employment hereunder at any time during the Employment Term,
                subject to 30 days’ prior written notice.

            

    

    

    
      	 	
              (b)

            	
              Voluntary
                Termination by the Company. The
                Company shall have the right to voluntarily terminate this Agreement
                and
                Individual’s employment hereunder at any time during the Employment Term,
                subject to 30 days’ prior written notice.

            

    

    

    
      	 	
              (c)

            	
              Termination
                for Cause.
                The Company shall have the right to terminate this Agreement and
                Individual’s employment hereunder at any time for cause. As used in this
                Agreement, "cause" shall mean refusal by Individual to implement
                or adhere
                to lawful policies or directives of the Company’s Board of Directors,
                breach of this Agreement, Individual’s conviction of a felony, other
                conduct of a criminal nature that may have a material adverse impact
                on
                the Company's reputation, breach of fiduciary duty or the criminal
                misappropriation by Individual of funds from or resources of the
                Company.
                Cause shall not be deemed to exist unless the Company shall have
                first
                given Individual a written notice thereof specifying in reasonable
                detail
                the facts and circumstances alleged to constitute "cause" and thirty
                (30)
                days after such notice such conduct has, or such circumstances have,
                as
                the case may be, not entirely ceased and not been entirely
                remedied.

            

    

    

    
      	 	
              (d)

            	
              Termination
                Upon Death or for Disability.
                This Agreement and Individual’s employment hereunder, and all amounts and
                benefits due Individual hereunder, shall automatically terminate
                upon
                Individual’s death or upon written notice to Individual and certification
                of Individual’s disability by a qualified physician or a panel of
                qualified physicians if Individual becomes disabled beyond a period
                of
                twelve (12) months and is unable to perform the duties contained
                in this
                Agreement. 

            

    

    

    
      	 	
              (e)

            	
              Effect
                of Termination.
                In
                the event that this Agreement and Individual’s employment is voluntarily
                terminated by Individual pursuant to Section 12(a), or in the event
                the
                Company voluntarily terminates this Agreement pursuant to Section
                12(b) or
                for cause pursuant to Section 12(c), all obligations of the Company
                and
                all duties, responsibilities and obligations of Individual under
                this
                Agreement shall cease. Upon such termination, the Company shall (i)
                pay
                Individual a cash lump sum equal to (x) all accrued base salary through
                the date of termination plus all accrued vacation pay and bonuses,
                if any,
                plus (y) as severance compensation, an amount equal to the greater
                of (A)
                twelve (12) months of Individual’s base salary (at the highest rate in
                effect during the Employment Term of this Agreement), or (B) Individual’s
                then base salary for the remaining Employment Term of this Agreement.
                In
                the event of a merger,

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    consolidation,
      sale, or change of control, the Company's rights hereunder shall be assigned
      to
      the surviving or resulting company, which company shall then be obligated to
      honor this Agreement with Individual.

     

    13.
      Resignation as Officer.
      In the
      event that Individual’s employment with the Company is terminated for any reason
      whatsoever, Individual agrees to immediately resign as an Officer and/or
      Director of the Company, if applicable, and any related entities. For the
      purposes of this Section 13, the term the "Company" shall be deemed to include
      subsidiaries, parents, and affiliates of the Company. 

    

    14.
      Governing Law, Jurisdiction and Venue.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of California without giving effect to any applicable conflicts of law
      provisions.

    

    15.
      Business Opportunities.
      During
      the Employment Term Individual agrees to bring to the attention of the Company’s
      Board of Directors all written business proposals that come to Individual’s
      attention and all business or investment opportunities of whatever nature that
      are created or devised by Individual and that relate to areas in which the
      Company conducts business and might reasonably be expected to be of interest
      to
      the Company or any of its subsidiaries.

    

    16.
      Employee’s Representations and Warranties.
      Individual hereby represents and warrants that he is not under any contractual
      obligation to any other company, entity or individual that would prohibit or
      impede Individual from performing his duties and responsibilities under this
      Agreement and that he is free to enter into and perform the duties and
      responsibilities required by this Agreement. Individual hereby agrees to
      indemnify and hold the Company and its officers, directors, employees,
      shareholders and agents harmless in connection with the representations and
      warranties made by Individual in this Section 16.

    

    17.
      Notices.
      All
      demands, notices, and other communications to be given hereunder, if any, shall
      be in writing and shall be sufficient for all purposes if personally delivered,
      sent by facsimile or sent by United States mail to the address below or such
      other address or addresses as such party may hereafter designate in writing
      to
      the other party as herein provided.

    

    
      	
              Company:

            	
              Individual:

            
	 	 
	
              Patient
                Safety Technologies, Inc.

            	
              Milton
                “Todd” Ault, III

            
	
              1800
                Century Park East, Suite 200

            	
              1800
                Century Park East, Suite 200

            
	
              Los
                Angeles, CA 90067

            	
              Los
                Angeles, CA 90067

            

    

    

    

    18.
      Entire Agreement.
      This
      Agreement contains the entire agreement of the parties and there are no other
      promises or conditions in any other agreement, whether oral or written. This
      Agreement supersedes any prior written or oral agreements between the parties.
      This Agreement may be modified or amended, if the amendment is made in writing
      and is signed by both parties. This Agreement is for the unique personal
      services of Individual and is not assignable or delegable, in whole or in part,
      by Individual. This Agreement may be assigned or delegated, in whole or in
      part,
      by the Company and, in such case, shall be assumed by and become binding upon
      the person, firm, company, corporation or business organization or entity to
      which this Agreement is assigned. The headings contained in this Agreement
      are
      for reference only and shall not in any way affect the meaning or interpretation
      of this Agreement. If any provision of this Agreement shall be held to be
      invalid or unenforceable for any reason, the remaining provisions shall continue
      to be valid and enforceable. The failure of either party to enforce any
      provision of this Agreement shall not be construed as a waiver or limitation
      of
      that party's right to subsequently enforce and compel strict compliance with
      every provision of this Agreement. This Agreement may be executed in two or
      more
      counterparts, each of which shall be deemed an original, but all of which
      together shall constitute one and the same instrument and, in pleading or
      proving any provision of this Agreement, it shall not be necessary to produce
      more than one of such counterparts.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

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

     

    
      	
              COMPANY:

            	
              INDIVIDUAL:

            
	 	 
	
              Patient
                Safety Technologies, Inc.

            	 
	 	 
	 	 
	
              By:___________________________

            	
              _________________________

            
	
              Name:
                Lynne Silverstein

            	
              Milton
                “Todd” Ault, III

            
	
              Title:
                President

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