Document:

EXHIBIT 10.45
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                         REGISTRATION RIGHTS AGREEMENT
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      THIS REGISTRATION RIGHTS AGREEMENT (the "Agreement") is made and
entered as of this ___ day of May, 2000 by and between ENTRADE INC., a
corporation organized under the laws of Pennsylvania (the "Company"), and
the person listed on the signature page hereto ("Initial Investor")
pursuant to the Subscription Agreement of even date herewith by and between
the Company and the Initial Investor ("Subsription Agreement").

      The parties hereby agree as follows:

      1.    CERTAIN DEFINITIONS

      As used in this Agreement, the following terms shall have the
following meanings:

      "Common Stock" shall mean the Company's shares of Common Stock..

      "Investor" shall mean the Initial Investor and any subsequent holder
of any Common Stock, Notes, Warrants or Registrable Securities.

      "Prospectus" shall mean the prospectus included in any Registration
Statement, as amended or supplemented by any prospectus supplement, with
respect to the terms of the offering of any portion of the Registrable
Securities covered by such Registration Statement and by all other
amendments and supplements to the prospectus, including post-effective
amendments and all material incorporated by reference in such prospectus.

      "Register," "registered" and "registration" refer to a registration
made by preparing and filing a registration statement or similar document
in compliance with the 1933 Act (as defined below, and the declaration or
ordering of effectiveness of such registration statement or document.

      "Registrable Securities" shall mean the shares of Common Stock issued
and issuable upon the exercise of the Warrants, and any securities issued
with respect to, or in exchange for, such securities.

      "Registration Statement" shall mean any registration statement filed
under the 1933 Act of the Company that covers the resale of any of the
Registrable Securities pursuant to the provisions of this Agreement,
amendments and supplements to such Registration Statement, including post-
effective amendments, all exhibits and all material incorporated by
reference in such Registration Statement.

      "SEC" means the U.S. Securities and Exchange Commission.

      "1993 Act" means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder.

      "1934 Act" means the Securities Exchange Act of 1934, as amended, and
the rules and regulations promulgated thereunder.

      "Warrants" mean the warrants to purchase shares of Common Stock
issued to the Investors in conjunction with the Note described in the
Subscription Agreement.

      Other capitalized terms used herein but not defined herein shall have
the meaning provided therefor in the Subscription Agreement.

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      2.    REGISTRATION.

            (a)   REGISTRATION STATEMENT.  Promptly following the closing
of the transactions contemplated by the Subscription Agreement (the
"Closing Date"), the Company shall use its best efforts to prepare and file
with the SEC one Registration Statement on Form S-3 (or, if Form S-3 is not
then available to the Company, on such form of registration statement as is
then available to effect a registration for resale of the Registrable
Securities, subject to the Investors' consent) covering the resale of the
Registrable Securities.  Such Registration Statement shall cover, to the
extent allowable under the 1933 Act and the Rules promulgated thereunder
(including Rule 416), such indeterminate number of additional shares of
Common Stock resulting from stock splits, stock dividends or similar
transactions with respect to the Registrable Securities.

            (b)   EXPENSES. The Company will pay all expenses associated
with the registration, excluding discounts, commissions, fees of
underwriters, selling brokers, dealer managers or similar securities
industry professionals and excluding legal fees of the Investors.

            (c)   EFFECTIVENESS.

                  (i)    The Company shall use its best efforts to have the
Registration Statement declared effective as soon as practicable.

                  (ii)   The Company may terminate or suspend effectiveness
of any registration contemplated by this Section one time for a period of
not more than twenty (20) days if the Company shall deliver to the
Investors a certificate signed by the President of the Company stating
that, in the good faith judgment of the Board of Directors of the Company,
it would (A) be seriously detrimental to the business of the Company for
such registration to be effected or remain effective at such time, (B)
interfere with any proposed or pending material corporate transaction
involving the Company or any of its subsidiaries, or (C) result in any
premature disclosure thereof.

      3.    COMPANY OBLIGATIONS.  The Company will use its best efforts to
effect the registration of the Registrable Securities in accordance with
the terms hereof, and pursuant thereto the Company will, as expeditiously
as possible:

            (a)   use its best efforts to cause such Registration Statement
to become effective and to remain continuously effective for a period that
will terminate upon the earlier of (i) June 12, 2005, and (ii) the date on
which all Registrable Securities covered by such Registration Statement, as
amended from time to time, have been sold or until such time as they become
eligible for distribution pursuant to Rule 144(k), or any successor
provision thereof, under the 1933 Act (the "Registration Period");

            (b)   prepare and file with the SEC such amendments and post-
effective amendments to the Registration Statement and the Prospectus as
may be necessary to keep the Registration Statement effective for the
period specified in Section 3(a) and to comply with the provisions of the
1933 Act and the 1934 Act with respect to the distribution of all
Registrable Securities;

            (c)   furnish to the Investors and their legal counsel (i)
promptly after the same is prepared and publicly distributed, filed with
the SEC, or received by the Company, one copy of the Registration Statement
and any amendment thereto, each preliminary prospectus and Prospectus and
each amendment or supplement thereto, and each letter written by or on
behalf of the Company to the SEC or the staff of the SEC, and each item of
correspondence from the SEC or the staff of the SEC, in each case relating
to such Registration Statement (other than any portion of any thereof which

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contains information for which the Company has sought confidential
treatment),  and (ii) such number of copies of a Prospectus, including a
preliminary prospectus, and all amendments and supplements thereto and such
other documents as such Investor may reasonably request in order to
facilitate the disposition of the Registrable Securities owned by such
Investor;

            (d)   make reasonable effort to prevent the issuance of any
stop order or other suspension of effectiveness and, if such order is
issued, obtain the withdrawal of any such order at the earliest possible
moment;

            (e)   furnish to the Investors at least five copies of the
Registration Statement and any post-effective amendment thereto, including
financial statements and schedules;

            (f)   prior to any public offering of Registrable Securities,
use its best efforts to register or qualify or cooperate with the Investors
and their counsel in connection with the registration or qualification of
such Registrable Securities, for offer and sale under the securities or
blue sky laws of all U.S. jurisdictions and do any and all other reasonable
acts or things necessary or advisable to enable the distribution in such
jurisdictions of the Registrable Securities covered by the Registration
Statement;

            (g)   cause all Registrable Securities covered by the
Registration Statement to be listed on each securities exchange,
interdealer quotation system or other market on which similar securities
issued by the Company are then listed;

            (h)   immediately notify the Investors, at any time when a
Prospectus relating to the Registrable Securities is required to be
delivered under the Securities Act, upon discovery that, or upon the
happening of any event as a result of which, the Prospectus included in
such Registration Statement, as then in effect, includes an untrue
statement of a material fact or omits to state any material fact required
to be stated therein or necessary to make the statements therein not
misleading in the light of the circumstances then existing, and at the
request of any such holder, promptly prepare and furnish to such holder a
reasonable number of copies of a supplement to or an amendment of such
Prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such Registrable Securities, such Prospectus shall not
include an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements
therein not misleading in the light of the circumstances then existing; and

            (i)   otherwise use its best efforts to comply with all
applicable rules and regulations of the SEC under the 1933 Act and the 1934
Act, take such other actions as may be reasonably necessary to, facilitate
the registration of the Registrable Securities and Additional Registrable
Securities hereunder.

      4.     OBLIGATIONS OF THE INVESTORS.

            (a)    It shall be a condition precedent to the obligations of
the Company to complete the registration pursuant to this Agreement with
respect to the Registrable Securities that each Investor shall furnish in
writing to the Company such information regarding itself, the Registrable
Securities  held by it and the intended method of disposition of the
Registrable Securities held by it as shall be reasonably required to effect
the registration of such Registrable Securities and shall execute such
documents in connection with such registration as the Company may
reasonably request. At least ten (10) business days prior to the first
anticipated filing date of the Registration Statement, the Company shall
notify the Investors of the information the Company requires from each
Investor if such Investor elects to have any of the Registrable Securities
included in the Registration Statement.

<PAGE>

            (b)   Each Investor, by its acceptance of the Registrable
Securities agrees to cooperate with the Company as reasonably requested by
the Company in connection with the preparation and filing of the
Registration Statement hereunder, unless such Investor has notified the
Company in writing of its election to exclude all of its Registrable
Securities from the Registration Statement.

            (c)   In the event the Investors determine to engage the
services of an underwriter, the Investors agree to enter into and perform
their obligations under an underwriting agreement, in usual and customary
form, including, without limitation, customary indemnification and
contribution obligations, with the managing underwriter of such offering
and take such other actions as are reasonably required in order to expedite
or facilitate the dispositions of the Registrable Securities.

            (d)   Each Investor agrees that, upon receipt of any notice
from the Company of the happening of any event rendering the Registration
Statement no longer effective, the Investor will immediately discontinue
disposition of Registrable Securities pursuant to the Registration
Statement covering such Registrable Securities until the Investor's receipt
of the copies of the supplemented or amended prospectus filed with the SEC
and declared effective and, if so directed by the Company, the Investor
shall deliver to the Company (at the expense of the Company) or destroy
(and deliver to the Company a certificate of destruction) all copies in the
Investor's possession of the prospectus covering the Registrable Securities
current at the time of receipt of such notice.

            (e)   An Investor may not participate in any underwritten
registration hereunder unless it (i) agrees to sell the Registrable
Securities on the basis provided in any underwriting arrangements in usual
and customary form entered into by the Company, (ii) completes and executes
all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements, and (iii) agrees to pay its pro rata share of
all underwriting discounts and commissions and any expenses in excess of
those payable by the Company pursuant to the terms of this Agreement.

      5.    INDEMNIFICATION.

            (a)   INDEMNIFICATION BY COMPANY.  The Company agrees to
indemnify and hold harmless, to the fullest extent permitted by law each
Investor, its officers, directors, partners, members, managers and
employees and each person who controls such Investor (within the meaning of
the 1933 Act) against all losses, claims, damages, liabilities, costs
(including, without limitation, reasonable attorney's fees) and expenses
caused by (i) any untrue or alleged untrue statement of a material fact
contained in any Registration Statement, Prospectus or any preliminary
prospectus or any amendment or supplement thereto or any omission or
alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, except
insofar as the same are based upon any information furnished in writing to
the Company by such Investor, expressly for use therein, or (ii) any
violation by the Company of any federal, state or common law, rule or
regulation applicable to the Company in connection with any Registration
Statement, Prospectus or any preliminary prospectus, or any amendment or
supplement thereto, and shall reimburse in accordance with subparagraph (c)
below, each of the foregoing persons for any legal and any other expenses
reasonably incurred in connection with investigating or defending any such
claims. The foregoing is subject to the condition that, insofar as the
foregoing indemnities relate to any untrue statement, alleged untrue
statement, omission or alleged omission made in any preliminary prospectus
or Prospectus that is eliminated or remedied in any Prospectus or amendment
or supplement thereto, the above indemnity obligations of the Company shall

<PAGE>

not inure to the benefit of any indemnified party if a copy of such
corrected Prospectus or amendment or supplement thereto had been made
available to such indemnified party and was not sent or given by such
indemnified party at or prior to the time such action was required of such
indemnified party by the 1933 Act and if delivery of such Prospectus or
amendment or supplement thereto would have eliminated (or been a sufficient
defense to) any liability of such indemnified party with respect to such
statement or omission. Indemnity under this Section 5(a) shall remain in
full force and effect regardless of any investigation made by or on behalf
of any indemnified party and shall survive the permitted transfer of the
Registrable Securities.

            (b)   INDEMNIFICATION BY HOLDER OF REGISTRABLE SECURITIES. In
connection with any registration pursuant to the terms of this Agreement,
each Investor severally will furnish to the Company in writing such
information as the Company reasonably requests concerning the holders of
Registrable Securities or the proposed manner of distribution for use in
connection with any Registration Statement or Prospectus and severally (and
not jointly) agrees to indemnify and hold harmless, to the fullest extent
permitted by law, the Company, its directors, officers, employees,
stockholders and each person who controls the Company (within the meaning
of the 1933 Act) against any losses, claims, damages, liabilities and
expense (including reasonable attorney's fees) resulting from any untrue
statement of a material fact or any omission of a material fact required to
be stated in the Registration Statement or Prospectus or preliminary
prospectus or amendment or supplement thereto or necessary to make the
statements therein not misleading, to the extent, but only to the extent
that such untrue statement or omission is contained in any information
furnished in writing by such holder of Registrable Securities to the
Company specifically for inclusion in such Registration Statement or
Prospectus or amendment or supplement thereto and that such information was
substantially relied upon by the Company in preparation of the Registration
Statement or Prospectus or any amendment or supplement thereto. In no event
shall the liability of a holder of Registrable Securities be greater in
amount than the dollar amount of the proceeds (net of all expense paid by
such holder and the amount of any damages such holder has otherwise been
required to pay by reason of such untrue statement or omission) received by
such holder upon the sale of the Registrable Securities included in the
Registration Statement giving rise to such indemnification obligation.

            (c)   CONDUCT OF INDEMNIFICATION PROCEEDINGS.  Any person
entitled to indemnification hereunder shall (i) give prompt notice to the
indemnifying party of any claim with respect to which it seeks
indemnification and (ii) permit such indemnifying party to assume the
defense of such claim with counsel reasonably satisfactory to the
indemnified party; provided that any person entitled to indemnification
hereunder shall have the right to employ separate counsel and to
participate in the defense of such claim, but the fees and expenses of such
counsel shall be at the expense of such person unless (a) the indemnifying
party has agreed to pay such fees or expenses, or (b) the indemnifying
party shall have failed to assume the defense of such claim and employ
counsel reasonably satisfactory to such person or (c) in the reasonable
judgment of any such person, based upon written advice of its counsel, a
conflict of interest exists between such person and the indemnifying party
with respect to such claims (in which case, if the person notifies the
indemnifying party in writing that such person elects to employ separate
counsel at the expense of the indemnifying party, the indemnifying party
shall not have the right to assume the defense of such claim on behalf of
such person); and provided, further, that the failure of any indemnified
party to give notice as provided herein shall not relieve the indemnifying
party of its obligations hereunder, except to the extent that such failure
to give notice shall materially adversely affect the indemnifying party in
the defense of any such claim or litigation. It is understood that the
indemnifying party shall not, in connection with any proceeding in the same
jurisdiction, be liable for fees or expenses of more than one separate firm

<PAGE>

of attorneys at any time for all such indemnified parties. No indemnifying
party will, except with the consent of the indemnified party, consent to
entry of any judgment or enter into any settlement that does not include as
an unconditional term thereof the giving by the claimant or plaintiff to
such indemnified party of a release from all liability in respect to such
claim or litigation.

            (d)   CONTRIBUTION.  If for any reason the indemnification
provided for in the preceding paragraphs (a) and (b) is unavailable to an
indemnified party or insufficient to hold it harmless, other than as
expressly specified therein, then the indemnifying party shall contribute
to the amount paid or payable by the indemnified party as a result of such
loss, claim, damage or liability in such proportion as is appropriate to
reflect the relative fault of the indemnified party and the indemnifying
party, as well as any other relevant equitable considerations. No person
guilty of fraudulent misrepresentation within the meaning of Section 11 (f)
of the 1933 Act shall be entitled to contribution from any person not
guilty of such fraudulent misrepresentation.  In no event shall the
contribution obligation of a holder of Registrable Securities be greater in
amount than the dollar amount of the proceeds (net of all expenses paid by
such holder and the amount of any damages such holder has otherwise been
required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission) received by it upon the sale of the
Registrable Securities giving rise to such contribution obligation.

      6.    MISCELLANEOUS.

            (a)   AMENDMENTS AND WAIVERS.  This Agreement may be amended
only by a writing signed by the parties hereto intended to be bound. The
Company may take any action herein prohibited, or omit to perform any act
herein required to be performed by it, only if the Company shall have
obtained the written consent to such amendment, action or omission to act,
of the Investor(s) affected by such amendment, action or omission to act.

            (b)   NOTICES.  All notices and other communications provided
for or permitted hereunder shall be made as set forth in Section 5 of the
Subscription Agreement.

            (c)   ASSIGNMENTS AND TRANSFERS BY INVESTORS.  This Agreement
and all the rights and obligations of the Investors hereunder may not be
assigned or transferred to any transferee or assignee except as set forth
herein. An Investor may make such assignment or transfer to any transferee
or assignee of any Common Stock, Note, Warrant, or Registrable Securities,
provided, that (i) such transfer is made expressly subject to this
Agreement and the transferee agrees in writing to be bound by the terms and
conditions hereof, and (ii) the Company is provided with written notice of
such assignment.

            (d)   ASSIGNMENTS AND TRANSFERS BY THE COMPANY.  This Agreement
may not be assigned by the Company without the prior written consent of the
Investors, except that without the prior written consent of the Investors,
but after notice duly given, the Company shall assign its rights and
delegate its duties hereunder to any successor-in-interest corporation, and
such successor-in-interest shall assume such rights and duties, in the
event of a merger or consolidation of the Company with or into another
corporation or the sale of all or substantially all of the Company's
assets.

            (e)   BENEFITS OF THE AGREEMENT.  The terms and conditions of
this Agreement shall inure to the benefit of and be binding upon the
respective permitted successors and assigns of the parties. Nothing in this
Agreement, express or implied, is intended to confer upon any party other
than the parties hereto or their respective successors and assigns any
rights, remedies, obligations, or liabilities under or by reason of this
Agreement, except as expressly provided in this Agreement.

<PAGE>

            (f)   COUNTERPARTS.  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.

            (g)   TITLES AND SUBTITLES.  The titles and subtitles used in
this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.

            (h)   SEVERABILITY.  If one or more provisions of this
Agreement are held to be unenforceable under applicable law, such provision
shall be excluded from this Agreement and the balance of this Agreement
shall be interpreted as if such provision were so excluded and shall be
enforceable in accordance with its terms to the fullest extent permitted by
law.

            (i)   FURTHER ASSURANCES.   The parties shall execute and
deliver all such further instruments and documents and take all such other
actions as may reasonably be required to carry out the transactions
contemplated hereby and to evidence the fulfillment of the agreements
herein contained.

            (j)   ENTIRE AGREEMENT.  This Agreement is intended by the
parties as a final expression of their agreement and intended to be a
complete and exclusive statement of the agreement and understanding of the
parties hereto in respect of the subject matter contained herein. This
Agreement supersedes all prior agreements and understandings between the
parties with respect to such subject matter.

            (k)   APPLICABLE LAW.  This Agreement shall be governed by, and
construed in accordance with, the laws of the State of Illinois without
regard to principles of conflicts of law.

                    [REMAINDER OF PAGE INTENTIONALLY BLANK]

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

The Company:                   ENTRADE INC.

                               By:
                                     ------------------------------
                                     Name:

                                     Title:

The Initial Investor:                _________________________________EXHIBIT 10.01
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                         EXECUTIVE EMPLOYMENT AGREEMENT
                         ------------------------------

      THIS EXECUTIVE  EMPLOYMENT AGREEMENT ("the AGREEMENT") is made and entered
into  on  April  10,  2000  by and  between  AUGUST  PROJECT 1 CORP.,  a Florida
corporation (the "COMPANY"), and JOHN ALLEN (the "EXECUTIVE"),  who hereby agree
as hereinafter provided:

      Section 1. DEFINITIONS. As used herein, the following terms shall have the
meanings set forth below.

      "BASE COMPENSATION" shall have the meaning set forth in Section 5.

      "BOARD OF DIRECTORS" means the directors of the Company.

      "CAUSE" shall have the meaning set forth in Section 10(b).

      "DISABILITY"  of the Executive  means that, as a result of the Executive's
incapacity  due to physical or mental  illness,  the  Executive  shall have been
absent from his duties on a full time basis for three (3) consecutive months, or
for an aggregate of six (6) months in any consecutive twelve (12) month period.

      "EMPLOYMENT COMMENCEMENT DATE" means the date hereof.

      "EMPLOYMENT  PERIOD"  means  that  period  commencing  on  the  Employment
Commencement  Date  and  ending  two (2)  years  from  the  date  hereof  unless
terminated earlier pursuant to Section 10 hereof.

      "EMPLOYMENT  TERMINATION  DATE"  means  the  date  the  Employment  Period
terminates as provided in Section 10.

      "FISCAL YEAR" means the fiscal year of the Company  ending  December 31 or
as such fiscal year as may be amended by the Board of Directors.

      "SCHEDULED  EMPLOYMENT  TERMINATION  DATE"  means the later of (a) the day
immediately   preceding  the  second  (2nd)   anniversary   of  the   Employment
Commencement  Date or (b) such date as is specified by either the Company or the
Executive in a Notice of Termination.

      "SUBSIDIARIES" means any wholly owned subsidiaries of the Company, if any.

            Section 2.  EMPLOYMENT  AND TERM.  The  Company  hereby  employs the
Executive,  and the Executive hereby accepts such employment by the Company, for
the purposes and upon the terms and conditions contained in this Agreement.  The
term of such employment shall be for the Employment Period.

<PAGE>

      Section 3. EMPLOYMENT CAPACITY AND DUTIES. The Executive shall be employed
throughout the  Employment  Period as  the  Vice-President of the  Company.  The
Executive  shall  have the  duties  and  responsibilities  incumbent  with  this
position,  but at all times shall act in accordance with the directions given by
the Board of Directors.

      Section 4.  EXECUTIVE  PERFORMANCE  COVENANTS.  The Executive  accepts the
employment  described  in Section 3 and agrees to devote all of his working time
and efforts  (except for absences due to illness and  appropriate  vacations) to
the business  and affairs of the Company and the  performance  of the  aforesaid
duties and responsibilities.

      Section 5. COMPENSATION.  The Executive shall be paid "BASE  COMPENSATION"
for  each  Fiscal  Year at an  annual  rate of  $50,000 in  26  bi-weekly  equal
installments or such other basis as may be determined by the Board of Directors.
The Base Compensation  shall be pro-rated for any Fiscal Year hereunder which is
less than a full Fiscal Year.

      Section 6.  PAYMENT OF  EXPENSES.  The Company  shall pay the  Executive's
reasonable  expenses,  including expenses for travel,  entertainment and similar
items, in accordance with the Company's expense policies as determined from time
to time by the Board of Directors.  The Employee shall provide all documentation
in connection  with such expenses as the Board of Directors  shall  request.  If
there is a dispute as to the eligibility of an expense for payment in accordance
with the Company's expense policies, then such expense shall be determined to be
payable  by the  Company  if  approved  by the  Board  of  Directors.  Any  such
determination shall be final and binding on the parties hereto.  Notwithstanding
any other provision hereof, any expenses which cumulatively  exceed one thousand
dollars  ($1,000) in any one month shall require the prior  written  approval of
the Board of Directors to be eligible for reimbursement hereunder.

      Section 7. EMPLOYEE BENEFITS, VACATIONS. During the Employment Period, the
Executive shall receive the benefits and enjoy the perquisites described below:

              (a) BENEFIT PLANS.  The Executive shall be entitled to participate
in any perquisite, benefit or compensation plan, including any medical insurance
plan or other plans which is generally  applicable to all salaried  employees of
the Company (collectively  referred to as the "BENEFIT PLANS"). The Company does
not  guarantee,  represent or warrant that any Benefit Plan will be available or
will continue to be available hereunder during the term of this Agreement.

              (b) VACATIONS. The Executive shall be entitled in each Fiscal Year
to a vacation of two (2) weeks (ten [10] working days).

      Section 8.  COMPANY  LIFE  INSURANCE;  MEDICAL  EXAMINATIONS.  At any time
during the Employment Period, the Company may, in its discretion,  apply for and
procure  as  owner  and  for  its  own  benefit,  insurance  on the  life of the
Executive,  in  such  amounts  and in such  form or  forms  as the  Company  may
determine.  The Executive shall have no right to any interest in any such policy
or policies, but he shall, at the request of the Company, submit to such medical
examinations, supply such information and execute such applications, instruments

                                       2
<PAGE>

and other  documents as reasonably  may be required by the insurance  company or
companies to whom the Company has applied for such insurance.

      If requested by the Company,  the  Executive  shall submit to at least one
medical  examination  during each Fiscal Year at such  reasonable time and place
and by a physician or physicians determined and selected by the Company.

      Section 9. CERTAIN COMPANY PROTECTION PROVISIONS. The following provisions
apply for the protection of the Company:

              (a)  CONFIDENTIALITY.  The Executive agrees and acknowledges that,
by reason of the nature of his duties as an officer and employee of the Company,
he  will  have  access  to  and  become  informed  of  confidential  and  secret
information  which  is  a  competitive  asset  of  the  Company   ("CONFIDENTIAL
INFORMATION"),   including,  without  limitation,  any  lists  of  customers  or
suppliers, financial statistics, research data or any other statistics and plans
contained in profit plans, capital plans, critical issue plans, strategic plans,
marketing or  operational  plans,  technical data and  information,  technology,
software,  product  information or other  information of the Company (whether or
not such information qualifies as a "trade secret" under applicable law) and any
of the  foregoing  which  belong  to any  person  or  company  but to which  the
Executive  has had  access  by reason of his  employment  relationship  with the
Company. Any technology,  software, or patents created,  obtained,  designed, or
produced  by  Executive  during  the  Employment  Period  shall be  deemed to be
Confidential Information; however, any technology, software, or patents created,
obtained,  designed,  or produced by Executive  during any period other than the
Employment  Period  shall be  deemed  not to be  Confidential  Information.  The
Executive  agrees to  faithfully  keep in  strict  confidence,  and not,  either
directly or indirectly,  to make known, divulge, reveal, furnish, make available
or use (except for use in the regular course of his employment  duties) any such
Confidential   Information.   The  Executive   acknowledges  that  all  manuals,
instruction books, price lists,  technology,  software,  information and records
and other information and aids relating to the Company's  business,  and any and
all other documents (and all copies thereof) containing Confidential Information
furnished to the Executive by the Company or otherwise  acquired or developed by
the  Executive,  shall  at all  times  be the  property  of  the  Company.  Upon
termination of the Employment  Period, the Executive shall return to the Company
all such  property  or  documents  (and all  copies  thereof)  which  are in his
possession,  custody or control,  but his  obligation of  confidentiality  shall
survive  such  termination  of the  Employment  Period until and unless any such
Confidential  Information shall have become,  through no fault of the Executive,
generally  known to the public.  The  obligations  of the  Executive  under this
subsection are in addition to, and not in limitation or preemption of, all other
obligations of confidentiality which the Executive may have to the Company under
general legal or equitable principles or otherwise.

              (b)  REMEDIES.  It is expressly  agreed by the  Executive  and the
Company that these  provisions are reasonable for purposes of preserving for the
Company its business,  goodwill and proprietary  information.  It is also agreed
that  if  any  provision  is  found  by  a  court  having   jurisdiction  to  be
unreasonable, for any reason, then that provision shall be amended to correspond
to that  considered  reasonable  by a court and as amended shall be enforced and

                                       3
<PAGE>

the remaining  provisions shall remain effective.  In the event of any breach of
these provisions by the Executive,  the parties recognize and acknowledge that a
remedy at law will be inadequate and the Company may suffer irreparable  injury.
The  Executive  acknowledges  that the  services  to be rendered by him are of a
character  giving them  peculiar  value,  the loss of which cannot be adequately
compensated for in damages; accordingly the Executive consents to injunctive and
other  appropriate  equitable  relief  (without  the posting of a bond) upon the
institution  of  proceedings  therefor  by the  Company in order to protect  the
Company's rights.  Such relief shall be in addition to any other relief to which
the Company may be entitled at law or in equity.

              Section 10. TERMINATION OF EMPLOYMENT.

              (a)   NOTICE  OF   TERMINATION;   EMPLOYMENT   TERMINATION   DATE.
                    -----------------------------------------------------------

                    (1) Any  termination  of the  Executive's  employment by the
Company  or  the  Executive   shall  be   communicated  by  written  "NOTICE  OF
TERMINATION" to the other party thereto.

                    (2)  "EMPLOYMENT  TERMINATION  DATE"  shall mean the date on
which the Employment  Period and the Executive's right and obligation to perform
employment  services for the Company shall terminate effective upon the first to
occur of the following:

                    (A) If  the   Executive's   employment  is  terminated   for
                        Disability,  the date that the Notice of  Termination is
                        given;

                    (B) If  the  Executive's  employment  is  terminated  by the
                        Executive  by  voluntary  action of the  Executive  (see
                        Section  10(e)),  the date  specified  in the  Notice of
                        Termination, which date (except with the written consent
                        of the Company to the  contrary)  shall not be more than
                        sixty  (60)  days  after  the date  that the  Notice  of
                        Termination is given;

                    (C) The death of the Executive;

                    (D) If  the  Executive's  employment  is  terminated  by the
                        Company for Cause (see  Section  10(b)(1)),  the date on
                        which a Notice of Termination is given; and

                    (E) If  the  Executive's  employment  is  terminated  by the
                        Company other than for Cause, Disability or death of the
                        Executive (see Section 10(f)), the date specified in the
                        Notice  of  Termination  which  date  (except  with  the
                        written  consent of the Executive to the contrary) shall
                        not be more than sixty (60) days after the date that the
                        Notice of Termination is given.

              (b) TERMINATION FOR CAUSE:
                  ---------------------

                  (1) The Company may terminate the  Executive's  employment and
the Employment Period for Cause. For the purposes of this Agreement, the Company

                                       4
<PAGE>

shall have "CAUSE" to terminate  employment  hereunder (A) if termination  shall
have been the result of an act or acts of willful  misconduct  injurious  to the
Company,  monetarily or otherwise; (B) upon the willful and continued failure by
the Executive  substantially to perform his duties with the Company;  (C) if the
Executive is  convicted of a felony  crime;  or (D) if the  Executive  willfully
fails to follow the directives of the Board of Directors in connection  with his
employment hereunder.

                     (2) If the Executive's  employment  shall be terminated for
Cause,  the  Company  shall  pay the  Executive  within  ten  (10)  days of such
termination,  his unpaid Base  Compensation  through the Employment  Termination
Date at the rate in effect at the time Notice of Termination is given,  plus any
expenses incurred in accordance with Section 6 hereof.

              (c)  TERMINATION  FOR  DISABILITY.  The Company may  terminate the
Executive's employment because of the Disability of the Executive and thereafter
shall pay to the Executive (or his successors) (1) his unpaid Base  Compensation
through the third full month  following the Employment  Termination  Date at his
then  effective  Base  Compensation  rate  plus  (2) any  expenses  incurred  in
accordance with Section 6 hereof.

              (d)  TERMINATION  UPON  EXECUTIVE'S  DEATH.  In the  event  of the
Executive's  death,  the  Company  shall pay to the  Executive's  estate (1) any
unpaid  amount  of Base  Compensation  through  the  date of  death  at the then
effective Base  Compensation  rate, plus (2) any expenses incurred in accordance
with Section 6 hereof.

              (e)  TERMINATION  OF  EMPLOYMENT BY THE  EXECUTIVE.  The Executive
shall  have the right  voluntarily  to  terminate  his  employment  prior to the
Scheduled  Employment  Termination Date, and if the Executive shall so terminate
his employment,  he shall be entitled only to payment of the amounts which would
be payable under Section 10(b)(2) had he been terminated for Cause.

              (f)  COMPENSATION  UPON  TERMINATION  OTHER THAN FOR CAUSE. If the
Company shall  terminate  the  Executive's  employment  other than for Cause or,
pursuant to Section  10(c) or (d),  then the Company  shall pay to the Executive
his unpaid Base Compensation through the Scheduled  Employment  Termination Date
at his then effective Base Compensation  Rate, plus (2) any expenses incurred in
accordance with Section 6 hereof.

              (g)  COMPENSATION  UPON  DISABILITY.  During any  period  that the
Executive fails to perform his duties hereunder as a result of Disability due to
physical  or  mental  illness,  he shall  continue  to  receive  his  full  Base
Compensation  at the rate then in effect  until  this  Agreement  is  terminated
pursuant to Section 10(c) hereof.  Thereafter,  his benefits shall be determined
in accordance with the Company's Benefit Plans.

      Section 11.  ARBITRATION.  Any dispute or controversy  arising under or in
connection  with this Agreement  shall be settled  exclusively by arbitration in
Miami-Dade  County,  Florida  in  accordance  with  the  rules  of the  American
Arbitration Association then in effect.

                                       5
<PAGE>

            Section 12. SUCCESSORS AND ASSIGNS.  Except as hereinafter expressly
provided,  the  agreements,  covenants,  terms and  provisions of this Agreement
shall bind the  respective  heirs,  executors,  administrators,  successors  and
assigns  of the  parties.  Specifically,  and  not by way of  limitation  of the
foregoing,  the  Executive  shall be bound by the terms and  conditions  of this
Agreement to any  successor  assignee of the  Company's  rights and  obligations
hereunder  as a result of any merger,  consolidation  or sale or lease of all or
substantially all of the Company's business and assets.

      If  the  Executive  should  die  while  any  amounts  are  payable  to him
hereunder,  or if by  reason  of  his  death  payments  are  to be  made  to him
hereunder,  then this Agreement shall inure to the benefit of and be enforceable
by the Executive's executors, administrators,  heirs, distributees, devisees and
legatees and all amounts payable hereunder shall then be paid in accordance with
the  terms  of this  Agreement  to the  Executive's  devisee,  legatee  or other
designee or, if there is no such designee, to this estate.

      This Agreement is personal in nature and the Executive shall not,  without
the consent of the Company,  assign or transfer this  Agreement or any rights or
obligations hereunder.  Without limiting the foregoing, the Executive's right to
receive payments  hereunder shall not be assignable or transferable,  whether by
pledge,  creation of a security interest or otherwise,  other than a transfer by
his will or by the laws of  descent  or  distribution,  and in the  event of any
attempted  assignment or transfer  contrary to this  paragraph the Company shall
have no liability to pay to the purported  assignee or transferee  any amount so
attempted to be assigned or transferred.

      As used in this  Agreement,  the  "COMPANY"  shall  mean  the  Company  as
hereinbefore  defined  and  any  successor  to its  business  and/or  assets  as
aforesaid  which  executes and delivers the agreement  provided for in the first
paragraph of this Section or which otherwise  becomes bound by all the terms and
provisions of this Agreement by operation of law.

      Section 13. NOTICES. Any notice or other communication required or desired
to be given hereunder shall be in writing and shall be deemed sufficiently given
when  personally  delivered  or  delivered by  nationally  recognized  overnight
delivery  service,  addressed to the parties at their  respective  addressed set
forth under their respective  signatures below or such other person or addresses
as shall be given by  notice of any  party.  Such  notice  shall be deemed to be
given on the date of delivery.

      Section 14. WAIVER; REMEDIES CUMULATIVE.  No waiver of any right or option
hereunder  by any party shall  operate as a waiver of any other right or option,
or the same  right  or  option  as  respects  any  subsequent  occasion  for its
exercise,  or of any legal remedy.  No waiver by any party of any breach of this
Agreement  or of any  agreement  or covenant  contained  herein shall be held to
constitute  a waiver of any other breach or a  continuation  of the same breach.
All remedies provided by this Agreement are in addition to all other remedies by
it or the law provided.

      Section 15.  GOVERNING  LAW;  SEVERABILITY.  This Agreement is made and is
expected  to be  performed  in  Florida,  and  the  various  terms,  provisions,

                                       6
<PAGE>

covenants  and  agreements,  and the  performance  thereof,  shall be construed,
interpreted  and enforced  under and with  reference to the laws of the State of
Florida,  unless otherwise  indicated herein. It is the intention of the Company
and the  Executive  to comply  fully with all laws and matters of public  policy
relating to employment agreements and restrictive covenants,  and this Agreement
shall be construed  consistently  with such laws and public policy to the extent
possible. If and to the extent any one or more covenants,  agreements, terms and
provisions  of this  Agreement or any portion or portions  thereof shall be held
invalid  or  unenforceable  by a court  of  competent  jurisdiction,  then  such
covenants,  agreements,  terms and  provisions  (or portions  thereof)  shall be
deemed separable from the remaining covenants,  agreements, terms and provisions
of this  Agreement  and such  holding  shall in no way  affect the  validity  or
enforceability of any of the other covenants,  agreements,  terms and provisions
hereof.

      Section 16. INDEPENDENT REPRESENTATION. Each party hereto acknowledges and
agrees that it has received independent legal counsel of its own choice and that
it has been sufficiently apprised of its rights and responsibilities with regard
to the substance of this Agreement.  In addition,  Executive  acknowledges  that
Kirkpatrick  &  Lockhart  LLP  ("K&L")  is solely  representing  the  Company in
connection  with this Agreement and all of the other  documents  associated with
this transaction.

      Section  17.   MISCELLANEOUS.   This  Agreement   constitutes  the  entire
understanding  of the parties  hereto with respect to the subject matter hereof.
This  Agreement  may not be  modified,  changed or  amended  except in a writing
signed by each of the parties  hereto.  This Agreement may be signed in multiple
counterparts,  each of which shall be deemed an original hereof. The captions of
the several  sections and  subsections  of this  Agreement are not a part of the
context hereof,  are inserted only for convenience in locating such sections and
subsections and shall be ignored in construing this Agreement.

      Section  18.  SURVIVAL.  The  provisions  of Sections 9, 11, 12, 15 and 16
shall survive termination of this Agreement for any reason.

      IN WITNESS  WHEREOF,  the Company and the  Executive  have  executed  this
Executive Employment Agreement as of the date first above written.

AUGUST PROJECT 1 CORP.                   JOHN ALLEN

By:_________________________________     _______________________________
Name:_______________________________     Address:
Title:______________________________     _______________________________
Address:____________________________     _______________________________
22 South Links Drive, Suite 204          _______________________________
Sarasota, Florida  34236                 _______________________________

                                       7

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