Document:

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                                                                    EXHIBIT 10.1

                                                                  EXECUTION COPY

                      SEVENTH AMENDMENT TO CREDIT AGREEMENT

         THIS SEVENTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment"), dated as
of November 1, 2002 (the "Seventh Amendment Effective Date"), is by and among
CORRPRO COMPANIES, INC., an Ohio corporation (the "Company"), CSI COATING
SYSTEMS INC. (the "Canadian Borrower" and, together with the Company, the
"Borrowers"), the lenders set forth on the signature pages hereof (collectively,
the "Lenders") and BANK ONE, NA, with its main office in Chicago, Illinois, and
successor by merger to Bank One, Michigan, as agent for the Lenders (in such
capacity, the "Agent").

                                    RECITALS

         A. The Borrowers, the Agent and the Lenders are parties to an Amended
and Restated Credit Agreement dated as of June 9, 2000 (as now and hereafter
amended, the "Credit Agreement"), pursuant to which the Lenders agreed, subject
to the terms and conditions thereof, to extend credit to the Borrowers.

         B. The Credit Agreement was amended by a First Amendment to Credit
Agreement dated as of October 19, 2000 (the "First Amendment") among the
Borrowers, the Lenders and the Agent, pursuant to which the parties agreed to
modify certain terms and conditions of the extension of credit to the Borrowers.

         C. Prior to May 29, 2001, certain Defaults occurred under the Credit
Agreement due to breaches of Sections 6.19.1 and 6.19.2 of the Credit Agreement
as of the fiscal quarter ending March 31, 2001 (the "May 2001 Defaults"). Based
upon the request of the Borrowers and the Guarantors, the Agent and the Lenders
temporarily waived the May 2001 Defaults subject to the terms and conditions set
forth in a certain letter dated May 29, 2001 (the "Waiver Letter").

         D. Prior to the expiration of the temporary waiver set forth in the
Waiver Letter, the Borrowers requested, notwithstanding the occurrence of the
May 2001 Defaults, that the Agent and the Lenders (i) continue to advance
Revolving Credit Loans to the Borrowers under certain modified terms and
conditions of lending, (ii) extend the waiver of the May 2001 Defaults and (iii)
forbear from exercising remedies available under the Loan Documents or at law or
in equity, all in order to (a) permit the Borrowers to develop and implement a
business plan and financial strategy to improve their business operations and
financial condition and (b) permit the Borrowers to develop and implement a
potential financial restructuring plan and strategy that would address, inter
alia, repayment of the indebtedness owed to the Lenders. Pursuant to such
request, the Credit Agreement was further amended by a Second Amendment to
Credit Agreement dated as of June 29, 2001 (the "Second Amendment") among the
Borrowers, the Lenders and the Agent. The Second Amendment, among other things,
granted to the Borrowers a "Restructuring Period" during which the Borrowers
would be permitted to develop and implement their business improvement and
financial restructuring plan.

         E. Prior to August 10, 2001, the Borrowers requested that the Agent and
the Lenders extend the Facility Termination Date and agree to certain other
modifications to the provisions of the Credit Agreement. Pursuant to such
request, the Credit Agreement was further amended by a Third Amendment to Credit
Agreement dated as of August 10, 2001 (the "Third Amendment") among the
Borrowers, the Lenders and the Agent.

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         F. Prior to November 12, 2001, the Borrowers requested that the Agent
and the Lenders further extend the Facility Termination Date, extend the
expiration date of the Restructuring Period and agree to certain other
modifications to the provisions of the Credit Agreement. Pursuant to such
request, the Credit Agreement was further amended by a Fourth Amendment to
Credit Agreement dated as of November 12, 2001 (the "Fourth Amendment") among
the Borrowers, the Lenders and the Agent.

         G. Prior to February 11, 2002, the Borrowers requested that the Agent
and the Lenders further extend the Facility Termination Date, extend the
expiration date of the Restructuring Period (also referred to as the
"Improvement Period") and agree to certain other modifications to the provisions
of the Credit Agreement. Pursuant to such request, the Credit Agreement was
further amended by a Fifth Amendment to Credit Agreement dated as of February
11, 2002 (the "Fifth Amendment") among the Borrowers, the Lenders and the Agent.

         H. Beginning in March, 2002 and continuing through August 15, 2002, the
Company informed the Lenders and the Agent that certain additional Events of
Default had occurred under the Credit Agreement as follows: (i) violation of the
financial covenants contained in Section 6.19 of the Credit Agreement and
Section 1.2.g of the Fifth Amendment, as of December 31, 2001 and thereafter,
(ii) violation of the provisions contained in Sections 7.5, 7.6 and 7.7 of the
Credit Agreement, as of March 22, 2002 and thereafter, (iii) violation of the
provisions contained in Section 1.4.c and 1.4.e of the Fifth Amendment, as of
March 22, 2002 and thereafter, (iv) violation of the financial reporting
covenants contained in Section 6.1 of the Credit Agreement, as of December 31,
2001 and thereafter, (v) violations under Section 1.2 of the Fifth Amendment as
a result of accounting irregularities at the Company's Australian subsidiary as
of March 31, 2002 and for any period for which the Company's restated financial
statements (which restatement was due to such accounting irregularities) would
have caused the Company to be in violation of financial covenants then in
effect, and (vi) violation of Section 6.7 of the Credit Agreement as a result of
securities law violations in connection with the accounting irregularities at
the Company's Australian subsidiary and the late filing of the Company's Form
10-K for the year ended March 31, 2002 (collectively the "March 2002 Defaults").
The May 2001 Defaults and the March 2002 Defaults are referred to collectively
as the "Existing Defaults".

         I. Prior to August 15, 2002, the Borrowers requested that the Agent and
the Lenders further extend the Facility Termination Date, extend the expiration
date of the Improvement Period, waive the March 2002 Defaults and agree to
certain other modifications to the provisions of the Credit Agreement. Pursuant
to such request, the Credit Agreement was further amended by a Sixth Amendment
to Credit Agreement dated as of September 23, 2002 (the "Sixth Amendment") among
the Borrowers, the Lenders and the Agent.

         J. The Credit Agreement (as modified by the First Amendment, the Second
Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment and
the Sixth Amendment), all promissory notes executed by either Borrower in favor
of the Agent and/or the Lenders, and any and all of the Collateral Documents
executed by any Loan Party (including without limitation all Security
Agreements, Mortgages, Guaranties, pledges of stock and other instruments,
documents or agreements of any kind evidencing or securing the indebtedness of
either Borrower in favor of the Lenders) are sometimes referred to collectively
as the "Loan Documents."

         K. The Improvement Period granted to Borrowers, as extended under the
Sixth Amendment, expired on October 31, 2002. Notwithstanding such expiration
and notwithstanding the occurrence and continuation of the Existing Defaults,
the parties mutually agreed that the Agent and the Lenders further extend the
expiration date of the Improvement Period. Additionally, the parties mutually
agreed that the Agent and the Lenders continue to permit the Borrowers to
develop and implement their business improvement and financial restructuring
plan under the terms and conditions set forth in this Amendment.

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         L. Based upon the foregoing recitals, and without waiving any existing
or future rights or remedies which the Agent and/or the Lenders may have against
the Borrowers or any Guarantor, the Agent and the Lenders are willing to amend
the terms of the Credit Agreement (including the Second Amendment, the Third
Amendment , the Fourth Amendment, the Fifth Amendment and the Sixth Amendment)
under the terms and conditions expressly set forth herein.

                                      TERMS

         In consideration of the premises and of the mutual agreements herein
contained, the parties agree as follows:

                                   ARTICLE 1.
                        PROVISIONS FOR IMPROVEMENT PERIOD

         1.1 Affirmation of Recitals. The Borrowers and the Guarantors hereby
acknowledge and affirm the accuracy of the foregoing recitals.

         1.2 Improvement Period Conditions. Section 1.3 of the Second Amendment
set forth certain "restructuring conditions" governing the Borrowers'
implementation of their business improvement and financial restructuring plan.
Such "restructuring conditions" were amended and restated in Section 1.2 of the
Third Amendment, Section 1.2 of the Fourth Amendment, Section 1.2 of the Fifth
Amendment and Section 1.2 of the Sixth Amendment, and are hereby further amended
and restated in their entirety as set forth below in this Section 1.2. Nothing
contained herein, however, shall be deemed to modify or retract the terms and
conditions that were applicable under the Second Amendment, the Third Amendment,
the Fourth Amendment, the Fifth Amendment and/or the Sixth Amendment during the
period from and including the Second Amendment Effective Date through and
including the date immediately preceding the Seventh Amendment Effective Date.
All actions performed by or on behalf of the Borrowers during such period in
furtherance of their obligations under the Second Amendment, the Third
Amendment, the Fourth Amendment, the Fifth Amendment and/or the Sixth Amendment
are hereby confirmed and ratified, and the Agent and the Lenders shall be
entitled to retain the full benefit of such performance. There shall be no
disgorgement, refund or rescission with respect to any payment made by or on
behalf of the Borrowers and received by the Agent or the Lenders pursuant to the
terms of the Second Amendment, the Third Amendment, the Fourth Amendment, the
Fifth Amendment and/or the Sixth Amendment. Except to the extent expressly
modified by the terms set forth below, each of the terms and conditions set
forth in the Second Amendment, the Third Amendment, the Fourth Amendment, the
Fifth Amendment and/or the Sixth Amendment is hereby confirmed and ratified and
shall remain in full force and effect as provided therein. From and after the
Seventh Amendment Effective Date, subject to strict compliance with the terms
and conditions set forth herein, the Lenders agree to forbear from enforcing
their rights and remedies based on the Existing Defaults while the Borrowers and
their consultants continue to develop and implement their plan for improvement
of the Borrowers' business and financial condition, provided that (i) the
Lenders' waiver of the Existing Defaults shall be solely in accordance with the
terms and conditions set forth in the Second Amendment, the Third Amendment, the
Fourth Amendment, the Fifth Amendment and the Sixth Amendment (as modified
herein) and (ii) such agreement to forbear shall not create a waiver of the
right of the Agent or the Lenders, upon the occurrence of a default hereunder or
a Default (other than the Existing Defaults) under the Loan Documents, to
enforce available rights and remedies at any time, in their sole discretion, in
accordance with the Credit Agreement (as previously modified and as modified
herein) and the other Loan Documents. Absent an earlier default hereunder or

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Default (other than the Existing Defaults) under the Loan Documents, the period
during which the Lenders shall forbear is from the Second Amendment Effective
Date through January 31, 2003 (the "Improvement Period"). The Lenders'
forbearance shall be governed by and subject to the following terms and
conditions:

                           a. The Borrowers shall keep the Agent, the Lenders
                  and their consultants apprised of the Borrowers' business and
                  financial operations and of any material discussions and
                  negotiations (other than discussions or negotiations in the
                  ordinary course of the Borrowers' business) pertaining to
                  lessors, vendors, suppliers, customers, other creditors, joint
                  venture partners or potential purchasers of any business
                  segments or significant assets of any Borrowers. Reports on
                  such matters shall be provided periodically and not less
                  frequently than monthly.

                           b. Notwithstanding any prior practice, the Borrowers
                  shall strictly comply with the financial reporting
                  requirements under the Loan Documents, as modified herein. In
                  addition to the reporting requirements set forth in Section
                  6.1 of the Credit Agreement (as modified herein), (i) not
                  later than Wednesday of each week during the Improvement
                  Period, the Borrowers and their financial advisors will
                  deliver to the Agent and the Lenders, in form and detail
                  satisfactory to the Agent, weekly updates to the detailed
                  13-week rolling cash flow forecast as required under Section
                  4.4 of the Sixth Amendment; (ii) not later than the twentieth
                  (20th) day of each month during the Improvement Period, the
                  Borrowers and their financial advisors will deliver to the
                  Agent and the Lenders, in form and detail satisfactory to the
                  Agent, (x) a summary of agings of accounts payable and
                  accounts receivable for the Borrowers as of the end of the
                  prior month, (y) a duly-executed Borrowing Base Certificate as
                  of the last Business Day of the prior month, together with
                  supporting information as required by the Credit Agreement,
                  and (z) a duly-executed Compliance Certificate with respect to
                  the cash flow restrictions set forth in subparagraph f below;
                  (iii) the Company shall, immediately upon receipt thereof,
                  deliver to the Agent copies of any correspondence, letters of
                  intent, agreements or similar documents pertaining in any
                  manner to any proposed sale or other disposition of any assets
                  of the Company or its Subsidiaries other than in the ordinary
                  course of business; and (iv) the Company shall provide to the
                  Agent, within five (5) business days following any request by
                  the Agent, a current listing of correct names and addresses of
                  account debtors (together with periodic updates to such
                  listing upon request by the Agent). If requested by the Agent,
                  the Borrowers promptly shall provide detailed backup for the
                  monthly summary of agings of accounts payable and accounts
                  receivable.

                           c. The Borrowers shall pay when due all amounts owed
                  to the Agent and the Lenders under the Loan Documents.

                           d. The aggregate outstanding amount of the Revolving
                  Credit Loans, together with the face amount of any Facility
                  LCs, shall not exceed the maximum amount described in Article
                  2 of the Second Amendment (as modified by Article 2 of the
                  Sixth Amendment). From and after the date of execution of this
                  Amendment, the Borrowers shall, absent emergency circumstances
                  demonstrated to the satisfaction of the Agent, request
                  Revolving Credit Loans not more frequently than twice per
                  week. Each such request shall be based upon a Borrowing Base
                  Certificate submitted pursuant to subparagraph b above,
                  updated to reflect finally-collected funds applied against the
                  Revolving Credit Loans pursuant to the Borrowers' dominion of
                  funds arrangement with the Agent.

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                           e. All representations and warranties made by the
                  Borrowers under the Second Amendment, the Third Amendment, the
                  Fourth Amendment, the Fifth Amendment, the Sixth Amendment and
                  under this Amendment, shall be true and correct.

                           f. (i) There shall be no change having a Material
                  Adverse Effect on the financial performance or condition of
                  the Borrowers as compared with the projections submitted to
                  and approved by the Agent and the Lenders in the Accepted
                  Forecast pursuant to Section 4.4 of this Amendment.

                                    (ii) For each "Measuring Period" (defined
                  below) during the Improvement Period, the actual cumulative
                  "Net Cash Flow" (defined below) of the Company and its
                  domestic Subsidiaries on a consolidated basis during such
                  Measuring Period shall equal or exceed the projected
                  cumulative Net Cash Flow for such Measuring Period as set
                  forth in the Accepted Forecast, within a negative variance of
                  the greater of $500,000 or 10% of cumulative budgeted Net Cash
                  Flow for each Measuring Period. The term "Net Cash Flow" shall
                  mean the excess (if any) of the consolidated aggregate cash
                  receipts of the Company and its domestic Subsidiaries during
                  the relevant period (excluding (a) any advances of Loans under
                  the Credit Agreement and (b) the amount of Net Cash Proceeds
                  generated by any transaction and distributed to the Lenders as
                  required by the Credit Agreement) compared to the consolidated
                  aggregate cash disbursements of the Company and its domestic
                  Subsidiaries during such period for operating expenses, taxes
                  and debt service (but excluding principal repayments and
                  interest payments to the Lenders and to the Noteholders, and
                  excluding professional fees incurred in connection with the
                  investigation of the Company's Australian subsidiary), all as
                  shown on the reports required pursuant to Section 4.4 of this
                  Amendment and prepared in a manner consistent with the
                  presentation set forth in the Accepted Forecast. The
                  cumulative Net Cash Flow of the Company and its domestic
                  Subsidiaries shall be measured as of the end of each calendar
                  month, for the cumulative period commencing April 1, 2002 and
                  ending on the last day of each successive month (each a
                  "Measuring Period") (i.e., the first Measuring Period shall be
                  a one-month period commencing April 1, 2002 and ending April
                  30, 2002, the second Measuring Period shall be a two-month
                  period commencing April 1, 2002 and ending May 31, 2002,
                  etc.).

                                    (iii) The Borrowers shall not, absent the
                  prior written consent of the Required Lenders, (a) disburse
                  any funds for purposes other than those set forth in the
                  Accepted Forecast or (b) disburse any funds in an amount that
                  would cause a violation of the net cash flow restrictions set
                  forth above, and shall not in any event disburse any funds in
                  a manner inconsistent with any other restrictions set forth in
                  this Amendment or the Loan Documents.

                           g. The Company will not permit the Consolidated
                  EBITDA of the Company and its Subsidiaries to be less than (i)
                  $6,687,000 for the four consecutive fiscal quarters ending
                  June 30, 2001, (ii) $8,628,000 for the four consecutive fiscal
                  quarters ending September 30, 2001, (iii) $8,860,000 for the
                  four consecutive fiscal quarters ending December 31, 2001,
                  (iv) $12,665,000 for the four consecutive fiscal quarters
                  ending March 31, 2002, (v) $1,901,000 for the three
                  consecutive months ending June 30, 2002, (vi) $5,279,000 for
                  the six consecutive months ending September 30, 2002, (vii)
                  $9,594,000 for the nine consecutive months ending December 31,
                  2002, (viii) $11,009,000 for the twelve consecutive months
                  ending March 31, 2003, or (ix) $2,533,000 for the three
                  consecutive months ending June 30, 2003. The parties
                  acknowledge that Consolidated EBITDA is calculated without
                  regard to extraordinary

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                  gains or losses other than in the ordinary course of business.
                  For the avoidance of doubt, the parties further acknowledge
                  that, for purposes of this subparagraph, the term
                  "Consolidated EBITDA" shall be calculated exclusive of (w)
                  commissions related to asset dispositions, (x) gains or losses
                  recognized upon asset dispositions, (y) any increase (or
                  decrease) in EBITDA resulting from the completion of a
                  particular asset disposition in a month that is after (or
                  before) the projected sale date, and (z) restructuring charges
                  and professional fees incurred in connection with the
                  investigation of the Company's Australian subsidiary.

                           h. No action or proceeding shall be commenced against
                  any Borrower that would, if adversely determined, cause a
                  Material Adverse Effect or prevent, impair or delay the
                  completion of the Borrowers' business improvement plan. With
                  respect to those actions or proceedings currently pending (as
                  listed on Schedule 1.2h hereof), there shall be no event that
                  would cause a Material Adverse Effect or prevent, impair or
                  delay the completion of the Borrowers' business improvement
                  plan.

                           i. Absent prior approval on behalf of the Agent and
                  the Lenders, no Borrower shall (i) file with any bankruptcy
                  court or be the subject of any petition under title 11 of the
                  United States Code (the "Bankruptcy Code"), (ii) be the
                  subject of any order for relief issued under the Bankruptcy
                  Code, (iii) file or be the subject of any petition seeking any
                  liquidation, reorganization, adjustment, protection,
                  arrangement, composition, dissolution or similar relief under
                  any present or future federal or state act or law relating to
                  bankruptcy, insolvency, reorganization or other relief for
                  debtors, (iv) have sought or consented to or acquiesced in the
                  appointment of any receiver, trustee, conservator, liquidator,
                  custodian or other similar official, or (v) be the subject of
                  any order, judgment or decree entered by any court of
                  competent jurisdiction approving a petition filed against such
                  party for any liquidation, reorganization, adjustment,
                  protection, arrangement, composition, dissolution or similar
                  relief under any present or future federal or state act or law
                  relating to bankruptcy, insolvency, reorganization or other
                  relief for debtors.

                           j. The Agent, the Lenders or their representatives or
                  consultants shall be permitted to conduct field examinations
                  of the Company and its Subsidiaries and audits of any
                  collateral securing the obligations of the Borrowers to the
                  Lenders. The Borrowers shall compensate the Agent or the
                  Lenders for such audits in accordance with the Agent's or each
                  Lender's schedule of fees, as applicable, and as such
                  schedules may be amended from time to time. The foregoing
                  permission to conduct audits shall not restrict or impair the
                  right of the Agent or the Lenders to inspect the collateral
                  and any records pertaining thereto at such times and at such
                  intervals as the Agent or the Required Lenders may require.
                  Further, the Borrowers acknowledge and agree that the Agent,
                  on behalf of itself and the Lenders, reserves the right to
                  engage the services of one or more appraisers to evaluate the
                  properties of the Company and its Subsidiaries. The Borrowers
                  acknowledge their responsibility to reimburse the Agent for
                  the fees and disbursements incurred by such parties in
                  connection with such engagements.

                           k. Neither the Company nor any of its Subsidiaries
                  shall take any action or fail to take any action within its
                  reasonable control that would cause a material adverse change
                  in the ability of the Company and its Subsidiaries to obtain
                  supplies or other assets to continue their operations. Upon
                  the occurrence of any event not within the reasonable control
                  of the Company or its Subsidiaries that would cause a material
                  adverse change in the ability of the Company and its
                  Subsidiaries to obtain supplies or other

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                  assets to continue their operations, the Company shall
                  immediately initiate and diligently complete such actions as
                  may be necessary to avoid any impairment or delay in the
                  operations of the Company and its Subsidiaries.

                           l. Notwithstanding anything in the Credit Agreement
                  to the contrary (including without limitation the provisions
                  of Section 6.11 of the Credit Agreement), during the
                  Improvement Period, absent the prior written consent of the
                  Required Lenders, the Company shall not, and shall not permit
                  or cause any of its Subsidiaries to, create, incur, assume or
                  suffer to exist any Indebtedness other than Indebtedness as
                  permitted under subsections 6.11(i), (ii), (iii), (iv), (v),
                  (vii) and (viii) of the Credit Agreement (with respect to
                  clause (vii), only to the extent that such Indebtedness is in
                  existence immediately prior to the Seventh Amendment Effective
                  date as described in Schedule 1.2l, provided that no increase
                  in the amount thereof shall be permitted).

                           m. During the Improvement Period, absent the prior
                  written consent of the Required Lenders, the Company shall
                  not, and shall not permit or cause any of its Subsidiaries to,
                  create, incur or suffer to exist any Lien other than Liens as
                  permitted under Section 6.15 of the Credit Agreement.

                           n. Notwithstanding anything in the Credit Agreement
                  to the contrary (including without limitation the provisions
                  of Section 6.13 of the Credit Agreement), during the
                  Improvement Period, neither the Company nor any of its
                  Subsidiaries shall agree to or consummate the sale,
                  assignment, lease, conveyance, transfer or other disposition
                  of any of its assets, except for (i) sales of inventory in the
                  ordinary course of business, (ii) the disposition in the
                  ordinary course of business of assets no longer required for
                  business operations, provided that such assets shall not have
                  a value exceeding $30,000 per item and $300,000 in the
                  aggregate on a cumulative basis during the Improvement Period,
                  or (iii) the disposition of other assets under terms approved
                  by the Required Lenders as evidenced by the prior written
                  consent of the Agent (provided that such consent shall require
                  the approval of all of the Lenders in the event of any
                  proposed disposition of all or substantially all of the
                  Collateral). With respect to clause (iii) of the preceding
                  sentence, the Company has designated certain non-core assets
                  or business units that it intends to list for sale or
                  otherwise dispose of as soon as practicable. Schedule 1.2n
                  attached to the Sixth Amendment identifies each such
                  designated non-core asset or business unit (each a "Targeted
                  Asset Disposition") and the Company's estimate of the net cash
                  proceeds to be generated from the sale or other disposition of
                  each such Targeted Asset Disposition (the "Targeted Asset Cash
                  Proceeds"). A copy of the listing agreement (if applicable)
                  with respect to each of such assets shall be delivered to the
                  Agent and the Lenders as soon as available. The Company shall,
                  immediately upon receipt thereof, provide to the Agent and the
                  Lenders copies of any written agreements or letters of intent
                  pertaining to the potential sale of any of such assets. With
                  respect to any transaction that is approved by the Required
                  Lenders under the provisions of this Amendment and otherwise
                  is permissible under the Credit Agreement (as modified
                  herein), such transaction shall be consummated within the time
                  parameters and other terms and conditions as disclosed in the
                  applicable written agreement or letter of intent. Based upon
                  the Company's request, 100% of the net cash proceeds (after
                  deducting customary and reasonably commissions and transaction
                  expenses and after deducting any taxes attributable to the
                  transaction) generated by each such transaction shall upon
                  closing immediately be paid to the Lenders and the Noteholders
                  (in the proportion of fifty-six percent (56%) to the Lenders
                  and forty-four percent (44%) to the Noteholders) . The portion
                  of such net cash proceeds remitted to the Lenders shall be
                  applied as a

<PAGE>

                  repayment of outstanding principal balance of the Revolving
                  Credit Loans (and the amount of such repayment shall
                  constitute a permanent reduction of the amount of the
                  Aggregate Commitments).

                           o. Notwithstanding anything in the Credit Agreement
                  to the contrary (including without limitation the provisions
                  of Sections 6.12 and 6.14 of the Credit Agreement), during the
                  Improvement Period, absent the consent of the Required
                  Lenders, neither the Company nor any of its Subsidiaries shall
                  agree to or consummate, or make or suffer to exist, any
                  Investment or Acquisition, or extend credit to any other
                  Person, or extend any credit to any other Person, or enter
                  into any merger or consolidation, or enter into any similar
                  business arrangement or combination, except for transactions
                  permitted under subsections 6.14 (i) and (ii) of the Credit
                  Agreement (with respect to clause (ii), only to the extent in
                  existence immediately prior to the Seventh Amendment Effective
                  Date).

                           p. Notwithstanding anything in the Credit Agreement
                  to the contrary, during the Improvement Period neither the
                  Company nor any of its Subsidiaries shall advance any loans or
                  credit to any officer, director, stockholder or other
                  Affiliate of the Company or any of its Subsidiaries, or
                  otherwise enter into any similar transaction (provided that
                  the Company may continue to implement intercompany
                  transactions with its Wholly-Owned Subsidiaries - other than
                  its Australian Subsidiary - consistent with past practice),
                  nor shall the Company or any of its Subsidiaries forgive or
                  defer any payment of principal or interest with respect to any
                  existing loan or advance to any such officer, director,
                  stockholder or other Affiliate.

                           q. Notwithstanding anything in the Credit Agreement
                  to the contrary (including without limitation the provisions
                  of Sections 6.10 of the Credit Agreement), during the
                  Improvement Period, absent the prior written consent of the
                  Required Lenders, the Company shall not, and shall not permit
                  or cause any of its Subsidiaries to declare or pay any
                  dividends or make any distributions on its Capital Stock or
                  redeem, repurchase or otherwise acquire or retire any of its
                  Capital Stock, provided that any Subsidiary may continue to
                  declare and pay dividends or make distributions to the Company
                  or to a Wholly-Owned Subsidiary consistent with past practice.

                           r. During the Improvement Period, neither the Company
                  nor any of its Subsidiaries shall pay any discretionary bonus
                  or similar compensation award to any of their respective
                  officers or employees except pursuant to a comprehensive plan
                  approved by the Required Lenders. The preceding sentence shall
                  not limit the right of the Company or its Subsidiaries to pay
                  any bonus (i) required under any written employment agreement,
                  incentive plan or similar "guaranteed" bonus plan in existence
                  immediately prior to the Second Amendment Effective Date, (ii)
                  under its annual incentive plan for the fiscal year ending
                  March 31, 2003 (provided that such plan is satisfactory to the
                  Agent) or (iii) negotiated as part of a recruitment "signing
                  bonus" consistent with past practice. Upon request, the
                  Company shall deliver to the Lenders and the Agent copies of
                  any applicable employment agreements, incentive plans or
                  similar "guaranteed" bonus plans.

                           s. The Company shall pay to the Agent, for the
                  benefit of the Lenders, an amendment fee in the amount of
                  $35,000.00. Not less than one-half of such fee shall be paid
                  not later than December 18, 2002, and the remainder shall be
                  paid not later than December 31, 2002.

<PAGE>

                           t. Commencing on the Second Amendment Effective Date
                  and thereafter, there shall be no principal payments made to
                  the Noteholders in respect of the Noteholder Obligations
                  unless, simultaneously with the making of any such payment,
                  the Borrowers pay to the Lenders the "Reduction Amount" (as
                  such term is defined in Article 2 of the Second Amendment).
                  Upon payment to the Lenders of the Reduction Amount, the
                  Borrowing Base and the Aggregate Commitments shall be
                  permanently reduced by such amount, which may not be
                  reborrowed. The parties acknowledge that, as of the Sixth
                  Amendment Effective Date, the "Reduction Ratio" (as such term
                  is defined in the Second Amendment) was 1.272.

                           u. Notwithstanding anything in the Credit Agreement
                  to the contrary, the Borrowers shall not, and shall not permit
                  any Subsidiary to, make any Capital Expenditures that exceed
                  in the aggregate for the Borrowers and their Subsidiaries (a)
                  $1,750,000 during the fiscal year ending March 31, 2002, (b)
                  $500,000 during the three-month period ending June 30, 2002,
                  (c) $1,000,000 during the six-month period ending September
                  30, 2002, (d) $1,300,000 during the nine-month period ending
                  December 31, 2002, (e) $1,500,000 during the twelve-month
                  period ending March 31, 2003 or (f) $500,000 during the
                  three-month period ending June 30, 2003.

                           v. During the Improvement Period (as such Improvement
                  Period may be extended from time to time) the Company shall
                  continue to employ or engage, a full-time chief restructuring
                  officer acceptable to the Agent and the Required Lenders. The
                  chief restructuring officer will have authority that is
                  independent of the authority of other officers of the Company
                  and will report directly to the Company's board of directors.
                  The scope of authority of the chief restructuring officer
                  shall be acceptable to the Agent and the Required Lenders. The
                  Agent and the Lenders will have unrestricted access to
                  communicate directly with the chief restructuring officer.

                           w. The Company has advised the Agent and the Lenders
                  that the Company intends to consult with one or more
                  investment banking firms to explore various strategic
                  alternatives, including refinancing and/or the sale of certain
                  assets or divisions. Subject to the approval requirements set
                  forth below, the Company will retain an acceptable investment
                  banking firm not later than December 6, 2002. The Company
                  shall keep representatives of the Agent and the Lenders
                  apprised of all consultations with investment banking firms.
                  The Company shall not engage any investment banking firm
                  unless the identity of such firm and the scope of the
                  engagement are acceptable to the Agent and the Required
                  Lenders. The Company agrees to promptly provide to the Agent
                  all reports and other information prepared for or on behalf of
                  the Company by any investment banking firm or similar
                  consultant. The Company acknowledges and agrees that the
                  Agent, its consultants and counsel shall have direct access to
                  any investment banking firm or similar consultant engaged on
                  behalf of the Company, and each of such parties is authorized
                  to discuss information related to the Company with the Agent,
                  the Lenders or their consultants or counsel. All parties
                  acknowledge that Brown, Gibbons & Lang has been retained by
                  the Company with respect to two (2) specific asset
                  dispositions and with respect to the Company's North American
                  operations, and the Agent and the Lenders have approved such
                  retentions (which shall not be deemed approval for the Company
                  to retain such firm for any other engagement).

                           x. The Company shall continue to implement the cost
                  savings measures identified in the report submitted to the
                  Agent and the Lenders on May 20, 2002.

<PAGE>

                           y. Not later than December 31, 2002, the Company
                  shall provide to the Agent and its advisors an updated written
                  report on the current status of all proceedings and
                  investigations related to the Company's Australian Subsidiary,
                  including without limitation any interim conclusions, pending
                  or completed actions in response thereto, and the status of
                  the administration of the business and assets of such
                  Subsidiary. Until completion of such administration, further
                  updated status reports on such matters shall be provided to
                  the Agent and its advisors not less frequently than weekly.

                           z. Not later than December 6, 2002, the Company shall
                  have retained either Grant Thornton PLC or, subject to the
                  same conditions as described in subparagraph w above, another
                  investment banking firm with respect to the potential sale of
                  its Middle East operations and business assets, and such
                  investment banking firm shall promptly complete offering
                  materials and assist in the valuation of such operations and
                  business assets. Further, with respect to such Middle East
                  operations and business assets, (i) not later than February
                  21, 2003, the Company shall provide to the Agent and the
                  Lenders a recommendation whether such operations and business
                  assets shall be sold to one or more third parties versus a
                  management-led transaction, (ii) if the Company decides
                  (subject to approval by the Required Lenders) to pursue a sale
                  to one or more third parties, (A) not later than February 21,
                  2003, the Company and its investment banking firm shall
                  develop a list of potential purchasers and (B) not later than
                  February 28, 2003, the Company and its investment banking firm
                  shall submit preliminary offering materials to interested
                  potential purchasers, and (iii) if the Company decides
                  (subject to approval by the Required Lenders) to pursue a
                  management-led transaction, such transaction shall be
                  consummated using a timetable agreed to by the Company and the
                  Required Lenders. In all events, the terms and conditions of
                  any potential sale of the Company's Middle East operations and
                  business assets shall be subject to approval by the Required
                  Lenders (as evidenced by the prior written consent of the
                  Agent).

                           aa. Not later than December 6, 2002, the Company
                  shall have retained Grant Thornton PLC or, subject to the same
                  conditions as described in subparagraph w above, another
                  investment banking firm with respect to the potential sale of
                  its United Kingdom operations and business assets, and such
                  investment banking firm shall promptly complete offering
                  materials and assist in the valuation of such operations and
                  business assets. Further, with respect to such United Kingdom
                  operations and business assets, (i) not later than January 25,
                  2003, the Company shall provide to the Agent and the Lenders a
                  recommendation whether such operations and business assets
                  shall be sold to one or more third parties versus a
                  management-led transaction, (ii) if the Company decides
                  (subject to approval by the Required Lenders) to pursue a sale
                  to one or more third parties, (A) not later than January 25,
                  2003, the Company and its investment banking firm shall
                  develop a list of potential purchasers and (B) not later than
                  January 31, 2003, the Company and its investment banking firm
                  shall submit preliminary offering materials to interested
                  potential purchasers, and (iii) if the Company decides
                  (subject to approval by the Required Lenders) to pursue a
                  management-led transaction, such transaction shall be
                  consummated using a timetable agreed to by the Company and the
                  Required Lenders. In all events, the terms and conditions of
                  any potential sale of the Company's United Kingdom operations
                  and business assets shall be subject to approval by the
                  Required Lenders (as evidenced by the prior written consent of
                  the Agent).

                           bb. Not later than January 1, 2003, the Company shall
                  either (i) enter into a binding agreement (the terms of which
                  agreement must be acceptable to the Required

<PAGE>

                  Lenders, as evidenced by the prior written consent of the
                  Agent) to sell the operations and business assets of its Asian
                  operations and subsidiaries or (ii) initiate a process
                  acceptable to the Required Lenders for the winding up and
                  liquidation of its Asian operations and business assets.

                           cc. The Company shall pay or cause to be paid all
                  accrued but unpaid interest owing by its Australian Subsidiary
                  to Bank One, NA (including interest accruing during the
                  Improvement Period).

                           dd. There shall be no other Default or Unmatured
                  Default under the Credit Agreement (as modified herein) or the
                  other Loan Documents (except for the Existing Defaults
                  expressly acknowledged and waived in this Amendment through
                  the effective date hereof).

Notwithstanding the provisions of this Section 1.2, all indebtedness of the
Borrowers to the Lenders shall be due and payable on demand in the discretion of
the Required Lenders (i) upon any failure of any one or more of the conditions
set forth in this Section 1.2 or (ii) upon expiration or termination of the
Improvement Period as provided in and subject to Section 1.6 hereof. Further,
any failure of any one or more of the conditions set forth in this Section 1.2
shall constitute a Default under the Loan Documents (without the necessity of
any notice or cure period).

         1.3 No Course of Dealing; Review of the Borrowers' Business Plan. The
Borrowers and the Guarantors acknowledge and agree that notwithstanding any
course of dealing between the Borrowers and the Lenders prior to the date
hereof, the Lenders shall have no obligation to make Loans to the Borrowers
outside of the strict conditions and requirements of the Credit Agreement (as
modified herein) nor to forbear from exercising available remedies except as
expressly set forth herein. Notwithstanding any past practice, the Borrowers and
the Guarantors agree that (i) the Agent and the Lenders shall not be obligated
or expected to honor any "overdrafts" or items for which funds of the Borrowers
are not immediately available, and (ii) the Agent and the Lenders shall not be
obligated or expected to provide any credit references on behalf of the
Borrowers, and any inquiries in this regard may be referred back to the
Borrowers or their advisors. The Agent and the Lenders shall be under no
obligation whatsoever to consent to the Borrowers' updated and revised business
plan as the same may be further revised from time to time, and instead the
Agent's and the Lenders' consideration of the Borrowers' updated and revised
business plan shall be undertaken by the Agent and the Lenders in their sole and
absolute discretion. The Agent's and the Lenders' consideration of the
Borrowers' updated and revised business plan shall be without prejudice to (i)
the possibility that the Agent or the Lenders may conclude that such business
plan, as further revised from time to time, does not adequately address the
Borrowers' defaults under the Loan Documents and/or the potential erosion of
collateral supporting the Borrowers' indebtedness to the Lenders, or (ii) the
right of the Agent or the Lenders, in accordance with the terms hereof, to
exercise rights or remedies available due to defaults under the Loan Documents
(as modified herein).

         1.4 Defaults. In addition to any events of default specified in the
Loan Documents, the following shall constitute a Default under this Amendment
and under the Loan Documents:

                  a. Any Borrower or any Guarantor shall fail to comply with,
perform or observe any term, condition, covenant or agreement set forth in this
Amendment;

                  b. Any representation or warranty of Borrowers or Guarantors
contained in this Amendment shall be untrue in any material respect when made or
shall, during the term of this Amendment, become impaired, untrue or misleading;

<PAGE>

                  c. With the exception of the Existing Defaults waived as set
forth in the Second Amendment and in the Sixth Amendment, the occurrence of any
new or further violation of the sections of the Credit Agreement implicated by
any of the Existing Defaults;

                  d. The occurrence of any default under the Senior Note
Agreement;

                  e. Any further change having a Material Adverse Effect shall
occur in business, properties, operations or condition (financial or otherwise)
of any Borrower or any Guarantor; or

                  f. The Aggregate Total Outstandings of all Lenders shall on
any date exceed the Borrowing Base as of such date, and the Borrowers shall fail
to pay on such date not less than the amount of such excess for application
against the Aggregate Total Outstandings.

         1.5 Expiration; No Further Extension Implied. The Borrowers and the
Guarantors acknowledge that the Agent and the Lenders have no obligation to
extend the term of the Improvement Period or further extend the Facility
Termination Date, or forbear from enforcing their rights and remedies before the
end of the Improvement Period in the event of any failure of any one or more of
the terms and conditions expressed herein, that no course of dealing that would
permit arguing for further extensions contrary to the Lenders' wishes exists or
is capable of being inferred, and that nothing contained herein or otherwise is
intended to be a promise or agreement to continue to extend the term of the
Improvement Period beyond January 31, 2003 or the Facility Termination Date
beyond July 31, 2003 or to extend any further credit to the Borrowers except as
provided in the Credit Agreement as herein amended. Furthermore, no future
agreement by the Agent and the Lenders to continue to extend the term of the
Improvement Period beyond January 31, 2003 or the Facility Termination Date
beyond July 31, 2003 or any other agreement shall be valid or enforceable unless
it is contained in a final written agreement signed by authorized
representatives of the Agent and the Required Lenders (or, to the extent
required by Section 8.2 of the Credit Agreement, all of the Lenders).
Preliminary understandings or agreements on one or more issues during the course
of any negotiations and prior to the finalization thereof shall not be binding
unless and until such a final written agreement is executed on behalf of the
applicable parties.

         1.6 Remedies Upon Default or Termination. The Improvement Period shall
expire automatically upon the earlier to occur of:

                  (i) a further Default or a default under this Amendment or any
document or agreement comprising the Loan Documents, and without notice or an
opportunity to cure such Default or default under this Amendment, or

                  (ii) except as provided in a further written agreement (if
any) among the Borrowers, the Agent and the Required Lenders pertaining to the
repayment of the Borrowers' obligations, January 31, 2003.

Upon the expiration of the Improvement Period, if the Borrowers are not then in
full compliance with all provisions of the Loan Documents (as amended by this
Amendment but without the benefit of any waiver of defaults except as expressly
provided in Section 5.3 of the Second Amendment and Section 5.3 of this
Amendment), upon the election of the Required Lenders but without further
notice, all of the Borrowers' obligations to the Lenders shall be immediately
due and payable (to the extent not already due and payable), all undertakings of
the Agent and the Lenders hereunder, including without limitation the Agent's
and the Lenders' forbearance, shall terminate without notice to the Borrowers
and without the requirement of any further action by or on behalf of the Agent
or the Lenders, the waiver of the Existing Defaults as set forth in the Second
Amendment and in the Sixth Amendment shall be deemed rescinded

<PAGE>

ab initio, and the Agent or the Lenders shall have the right to exercise any
remedies provided in this Amendment or any of the Loan Documents, or under
applicable law or in equity. All rights and remedies of the Agent and the
Lenders shall be cumulative and not exclusive, and the Agent or the Lenders
shall be entitled to pursue one or more rights and/or remedies simultaneously or
sequentially without the necessity of an election of remedies.

         1.7 Reservation of Rights; No Waiver by Conduct. The Second Amendment,
as modified by the Third Amendment, the Fourth Amendment, the Fifth Amendment
and the Sixth Amendment, and as further modified by this Amendment, grants a
limited forbearance until January 31, 2003 only, or until an earlier Default,
upon the terms and conditions set forth in the Second Amendment, the Third
Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment and
this Amendment. Excepting only the waiver of the Existing Defaults as set forth
in the Second Amendment and in the Sixth Amendment, nothing herein shall be
deemed to constitute a waiver of any new Unmatured Defaults or Defaults of any
other provision of any of the documents referred to herein, and nothing herein
shall in any way prejudice the rights and remedies of the Agent and/or the
Lenders under any of the documents referred to herein or applicable law.
Further, the Agent and the Lenders shall have the right to waive any conditions
set forth in this Amendment and/or such documents, in their sole discretion, and
any such waiver shall not prejudice, waive or reduce any other right or remedy
which the Agent or the Lenders may have against the Borrowers or the Guarantors.
No waiver of the rights or any condition of this Amendment and/or any other
document by the Agent or the Lenders shall be effective unless the same shall be
contained in a writing signed by authorized representatives of the Agent or the
Lenders, as the case may be, in the manner required by Section 8.2 of the Credit
Agreement. No course of dealing on the part of the Agent or the Lenders, nor any
delay or failure on the part of the Agent or the Lenders in exercising any
right, power or privilege hereunder shall operate as a waiver of such right,
power or privilege, nor shall any single or partial exercise thereof preclude
any further exercise thereof or the exercise of any other right, power or
privilege.

         1.8 Survival. All representations, warranties, covenants, agreements,
releases and waivers made by or on behalf of the Borrowers or any Guarantor
under this Amendment shall survive and continue after the expiration or
termination of the Improvement Period.

                                   ARTICLE 2.
                                   AMENDMENTS

         Effective as of the Seventh Amendment Effective Date, the Credit
Agreement shall be amended as follows:

         2.1 A new definition of "Seventh Amendment Effective Date" is added to
Section 1.1 of the Credit Agreement in appropriate alphabetical order, stating
as follows:

                  "Seventh Amendment Effective Date" shall mean November 1,
2002.

         2.2 Section 6.19.3 of the Credit Agreement is amended and restated in
its entirety as follows:

                  6.19.3 Minimum Consolidated Net Worth. The Company will at all
         times maintain Consolidated Net Worth of not less than (i) $28,482,000
         for the period from the Sixth Amendment Effective Date to and including
         September 29, 2002, (ii) $31,140,000 for the period from September 30,
         2002 to and including December 30, 2002, (iii) $34,735,000 for the
         period from December 31, 2002 to and including March 30, 2003,

<PAGE>

         (iv) $35,595,000 for the period from March 31, 2003 to and including
         June 29, 2003 and (v)thereafter, $37,708,000.

         During the Improvement Period, the parties agree that Consolidated Net
Worth shall be calculated exclusive of (a) gains or losses recognized upon asset
dispositions or (b) any impairment to goodwill or other intangible assets to the
extent required by new accounting regulations promulgated after the date of the
Credit Agreement. Further, for any period after June 30, 2002 and during the
remainder of the Improvement Period, the parties agree that Consolidated Net
Worth shall be calculated without deducting any Interest Expense incurred after
June 30, 2002 or income tax expense incurred after June 30, 2002.

                                   ARTICLE 3.
                                 REPRESENTATIONS

         Each Borrower represents and warrants to the Agent and the Lenders
that:

         3.1 The execution, delivery and performance by it of this Amendment are
within its powers, have been duly authorized by all necessary action and are not
in contravention with any law, rule or regulation, or any judgment, decree,
writ, injunction, order or award of any arbitrator, court or governmental
authority, of the terms of its Articles of Incorporation or By-laws, or any
contract or undertaking to which it is a party or by which it or its property is
or may be bound.

         3.2 This Amendment is its legal, valid and binding obligation,
enforceable against it in accordance with the terms hereof.

         3.3 No consent, approval or authorization of or declaration,
registration or filing with any governmental authority or any nongovernmental
person or entity, including, without limitation, any of its creditors or
stockholders, is required on its part in connection with the execution, delivery
and performance of this Amendment or as a condition to the legality, validity or
enforceability of this Amendment.

         3.4 After giving effect to the amendments herein contained, the
representations and warranties contained in Article V of the Credit Agreement
are true on and as of the date hereof with the same force and effect as if made
on and as of the date hereof.

                                   ARTICLE 4.
                      ADDITIONAL COVENANTS OF THE BORROWERS

         Each Borrower shall:

         4.1 Promptly perform and observe, and cause each Guarantor to perform
and observe, its respective obligations set forth in this Amendment.

         4.2 Cause each of the Guarantors to execute the Consent and Agreement
at the end of this Amendment.

         4.3 Promptly deliver to the Lenders such information as has previously
been requested in writing by the Lenders, the Agent or the Agent's financial
consultant.

<PAGE>

         4.4 Promptly execute and deliver, and cause each Guarantor to execute
and deliver, such other documents as the Agent or the Lenders may reasonably
request.

                                   ARTICLE 5.
                                 MISCELLANEOUS.

         5.1 Cross References. References in the Credit Agreement or in any
note, certificate, instrument or other document to the "Credit Agreement" shall
be deemed to be references to the Credit Agreement as amended hereby and as
further amended from time to time.

         5.2 Expenses and Costs. Each Borrower, jointly and severally, agrees to
pay and to save the Agent and the Lenders harmless for the payment of all fees,
out-of-pocket disbursements, and other costs and expenses incurred by or on
behalf of the Agent or any Lender arising in any way in connection with this
Amendment, or any other document relating to indebtedness described in the
recitals to this Amendment, including the fees and expenses of Dickinson Wright
PLLC, counsel to the Agent, and AlixPartners, LLC, consultant to the Agent, and
specifically including, without limitation, (a) the cost of any financial audit
or inquiry conducted by the Agent, any Lender or their consultants, (b) the fees
and expenses of counsel for the Agent or any Lender for the work performed as a
result of the Borrowers' defaults or financial problems, and for the
preparation, examination and approval of this Amendment or any documents in
connection with this Amendment, (c) for the payment of all fees and
out-of-pocket disbursements incurred by the Agent or any Lender, including
attorneys' fees, in any way arising from or in connection with any action taken
by the Agent or any Lender to monitor, advise, enforce or collect the
obligations described in the recitals hereto or to enforce any obligations of
the Borrowers or any Guarantor under this Amendment or the other documents
referred to herein, including any actions to lift the automatic stay or to
otherwise in any way participate in any bankruptcy, reorganization or insolvency
proceeding of any Borrower or Guarantor or in any trial or appellate
proceedings, and (d) any expenses or fees (including attorneys' fees) incurred
in relation to or in defense of any litigation instituted by any Borrower, any
Guarantor or any third party against the Agent or any Lender arising from or
relating to the obligations described in the recitals hereto or this Amendment,
including any so-called "lender liability" action. All of these expenses and
fees (including attorneys' fees) shall be part of the Obligations owing under
the Credit Agreement, and shall be secured by all of the collateral described in
the Collateral Documents. In the event the Borrowers fail to pay any such fees,
expenses and costs within five (5) days of being invoiced therefor, the Agent or
the Lenders, as the case may be, shall be permitted to charge the accounts of
any Borrower for such fees, expenses and costs, without prejudice to any other
rights or remedies of the Agent or the Lenders. The rights and remedies of the
Agent and the Lenders contained in this paragraph shall be in addition to, and
not in lieu of, the rights and remedies contained in the Credit Agreement, the
Collateral Documents and as otherwise provided by law.

         5.3 Waiver of March 2002 Defaults. The Borrowers have requested that
the Lenders and the Agent confirm the waiver of the March 2002 Defaults as
provided in Section 5.3 of the Sixth Amendment. Pursuant to such request, the
Lenders and the Agent hereby confirm the waiver of the March 2002 Defaults for
the period prior to the effectiveness of this Amendment and, so long as there is
no occurrence of a new Default (for purposes hereof, a new Default includes a
new or further violation of any of the sections of the Credit Agreement
implicated in any of the Existing Defaults), for the remainder of the
Improvement Period. Such waiver shall not extend to any period of time after the
Improvement Period except to the extent expressly provided in a further written
agreement among the Borrowers and the Required Lenders, provided that such
waiver shall automatically survive the expiration of the Improvement Period if
the Borrowers are then in full compliance with all provisions of the Loan
Documents (as amended by this Amendment but without the benefit of any waiver of
defaults except as

<PAGE>

set forth in this Section 5.3 and in Section 5.3 of the Second Amendment). The
Borrowers acknowledge and agree that the waiver contained herein is a limited,
specific and one-time waiver as described above. Such limited waiver (a) shall
not modify or waive any other term, covenant or agreement contained in any of
the Loan Documents, and (b) shall not be deemed to have prejudiced any present
or future right or rights which the Agent or the Lenders now have or may have
under this Amendment, the Credit Agreement (as modified hereby) or the other
Loan Documents

         5.4 Release. Each Borrower and each Guarantor represents and warrants
that it is not aware of any claims or causes of action against the Agent or any
Lender, any participant lender or any of their successors or assigns, and that
it has no defenses, offsets or counterclaims with respect to the indebtedness
owed by the Borrowers to the Lenders. Notwithstanding this representation and as
further consideration for the agreements and understandings herein, the
Borrowers and Guarantors, on behalf of themselves and their respective
employees, agents, executors, heirs, successors and assigns, hereby release the
Agent and the Lenders, their respective predecessors, officers, directors,
employees, agents, attorneys, affiliates, subsidiaries, successors and assigns,
from any liability, claim, right or cause of action which now exists or
hereafter arises as a result of acts, omissions or events occurring on or prior
to the date hereof, whether known or unknown, including but not limited to
claims arising from or in any way related to the Credit Agreement or the
business relationship among the Borrowers, the Guarantors, the Agent and the
Lenders.

         5.5 Performance by Lenders and Agent; No Agency; Borrowers Remain in
Control. Each Borrower and each Guarantor acknowledges and agrees that the Agent
and the Lenders have fully performed all of their obligations under the Credit
Agreement and all documents executed in connection with the Credit Agreement,
and that all actions taken by the Agent and the Lenders are reasonable and
appropriate under the circumstances and within their rights under the Credit
Agreement and all other documents executed in connection therewith and otherwise
available. The actions of the Agent and the Lenders taken pursuant to this
Amendment and the documents referred to herein are in furtherance of the efforts
of the Agent and the Lenders as secured lenders seeking to collect the
obligations owed to the Lenders. Nothing contained in this Amendment shall be
deemed to create a partnership, joint venture or agency relationship of any
nature among the Borrowers and the Lenders or the Agent. The Borrowers, the
Guarantors, the Agent and the Lenders agree that notwithstanding the provisions
of this Amendment, each Borrower remains in control of its business operations
and determines the business plans (including employment, management and
operating directions) for its business.

         5.6 Entire Agreement; Severability. The Credit Agreement, as previously
amended and as amended by this Amendment, constitutes the entire understanding
of the parties with respect to the subject matter hereof and may only be
modified or amended by a writing signed by the party to be charged. If any
provision of this Amendment is in conflict with any applicable statute or rule
of law or otherwise unenforceable, such offending provision shall be null and
void only to the extent of such conflict or unenforceability, but shall be
deemed separate from and shall not invalidate any other provision of this
Amendment.

         5.7 No Other Promises or Inducements. There are no promises or
inducements which have been made to any signatory hereto to cause such signatory
to enter into this Amendment other than those which are set forth in this
Amendment. Each Borrower and each Guarantor acknowledges that its authorized
officers have thoroughly read and reviewed the terms and provisions of this
Amendment and are familiar with same, that the terms and provisions contained
herein are clearly understood by the Borrower or Guarantor and have been fully
and unconditionally consented to by the Borrower or Guarantor, and that the
Borrower or Guarantor has had full benefit and advice of counsel of its own
selection, or the opportunity to obtain the benefit and advice of counsel of its
own selection, in regard to understanding the terms, meaning and effect of this
Amendment, and that this Amendment has been

<PAGE>

entered into by the Borrower and Guarantor freely, voluntarily, with full
knowledge, and without duress, and that in executing this Amendment, the
Borrower and Guarantor is relying on no other representations, either written or
oral, express or implied, made by any other party hereto, and that the
consideration hereunder received by the Borrower has been actual and adequate.

         5.8 Sufficiency of Improvement Period. Each Borrower represents that:
(a) it has no intention to file or acquiesce in the filing of any bankruptcy or
insolvency proceeding hereafter, absent approval on behalf of the Agent and the
Lenders of such proceeding; and (b) the Improvement Period and forbearance
allowed by the Second Amendment, the Third Amendment, the Fourth Amendment, the
Fifth Amendment and the Sixth Amendment (as modified herein) are sufficient for
the Borrowers to accomplish the commitments they have undertaken in the Second
Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment and
the Sixth Amendment (as modified herein).

         5.9 Ratification. The Borrowers agree that the Credit Agreement, the
Collateral Documents and all other documents and agreements executed by the
Borrowers or the Guarantors in connection with the Credit Agreement in favor of
the Agent, the Collateral Agent or any Lender are ratified and confirmed and
shall remain in full force and effect as amended hereby, and that there is no
set off, counterclaim or defense with respect to any of the foregoing. Terms
used but not defined herein shall have the respective meanings ascribed thereto
in the Credit Agreement.

         5.10 Counterparts; Effectiveness. This Amendment may be executed in any
number of counterparts with the same effect as if the signatures thereto and
hereto were upon the same instrument. Facsimile copies of signatures shall be
treated as original signatures for all purposes under this Amendment. This
Amendment shall become effective as of November 1, 2002 when each of the
following has been satisfied:

         (a) Receipt by the Agent of counterparts of this Amendment duly
executed by each Borrower and each Lender, and counterparts of the Consent and
Agreement annexed hereto duly executed by each Guarantor.

         (b) With respect to any interest, fees or other charges previously
required to be paid by either Borrower under the terms of any waiver letter,
extension letter, amendment or other agreement, receipt by the Agent of full
payment of such interest, fees or other charges.

         (c) Payment of the amendment fee required under this Amendment. In the
event such fee is not received immediately upon execution of this Amendment by
the Borrowers, the Agent is authorized at any time thereafter to charge the
Company's account(s) in the amount of such fee.

         (d) Receipt by the Agent of copies, certified by the Secretary or
Assistant Secretary of each Borrower and each Guarantor, of its Board of
Directors' resolutions and of resolutions or actions of any other body
authorizing the execution of this Amendment and all Collateral Documents to be
executed in connection herewith to which such Borrower or such Guarantor, as
applicable, is a party.

         (e) Receipt by the Agent of an incumbency certificate, executed by the
Secretary or Assistant Secretary of each Borrower and each Guarantor, which
shall identify by name and title and bear the signatures of the Authorized
Officers and any other officers of each Borrower and each Guarantor authorized
to sign this Amendment and all Collateral Documents to be executed in connection
herewith to which each Borrower and each Guarantor is a party, upon which
certificate the Agent and the Lenders shall be entitled to rely until informed
of any change in writing by such Borrower and such Guarantor.

<PAGE>

         (f) Receipt by the Agent of a written opinion of the general counsel of
the Borrowers and the Guarantors, addressed to the Agent and Lenders and in form
and substance satisfactory to the Agent.

         (g) To the extent not previously delivered, receipt by the Agent
(within five days following written request by the Agent, or within such longer
period of time as may be acceptable to the Agent) of executed copies of all
Collateral Documents and other documents in connection therewith requested by
the Agent, together with all necessary consents and other related documents in
connection therewith, insurance certificates, financing statements,
environmental reports, opinions of foreign counsel, original stock certificates
and related transfer powers, UCC, judgment and other lien and encumbrance
searches, title searches and insurance, surveys and other documents required by
the Agent.

         (h) The Company and the Noteholders shall have executed an amendment to
the Senior Note Agreement, which amendment shall be satisfactory in form and
substance to the Agent and shall not expire by its terms prior to the Facility
Termination Date.

         (i) Delivery of such other agreements and documents, and the
satisfaction of such other conditions as may be reasonably required by the
Agent, including without limitation a solvency certificate of each Borrower, and
such evidence of the perfection and priority of all liens and security interests
as required by the Agent, all of which shall be satisfactory to the Agent and
its counsel to the extent required by the Agent.

         5.11 Other Documents. Each Borrower and each Guarantor agrees to
execute and deliver any and all documents reasonably deemed necessary or
appropriate by the Agent or the Lenders to carry out the intent of and/or to
implement this Amendment.

         5.12 Governing Law. This Amendment shall be governed by and construed
in accordance with the laws of the State of Michigan without giving effect to
choice of law principles of such State.

         5.13 Miscellaneous. This Amendment is made for the sole benefit and
protection of the Borrowers, the Agent and the Lenders and their respective
successors and permitted assigns (provided that the Borrowers shall not be
permitted, absent the prior written consent of all of the Lenders, to assign any
of their respective rights or obligations under this Amendment). No other person
or entity shall have any rights whatsoever under this Amendment. Time shall be
of the strictest essence in the performance of each and every one of the
Borrowers' obligations hereunder.

         5.14 Construction. This Amendment shall not be construed more strictly
against the Lenders or the Agent merely by virtue of the fact that the same has
been prepared by the Lenders and the Agent or their counsel, it being recognized
that the Borrowers, the Guarantors, the Agent and the Lenders have contributed
substantially and materially to the preparation of this Amendment, and each of
the parties hereto waives any claim contesting the existence and the adequacy of
the consideration given by any of the other parties hereto in entering into this
Amendment.

         5.15 Headings. The headings of the various paragraphs in this Amendment
are for convenience of reference only and shall not be deemed to modify or
restrict the terms or provisions hereof.

         5.16 Waiver of Jury Trial; Consent to Jurisdiction. (a) The Borrowers,
each Guarantor, each Lender and the Agent hereby specifically ratifies and
confirms the waiver of jury trial set forth in Section 16.2 of the Credit
Agreement. Without limiting the generality of the preceding ratification and
confirmation, the Borrowers, each Guarantor, each Lender and the Agent, after
consulting or having had the opportunity to consult with counsel, knowingly,
voluntarily and intentionally waives any right any of

<PAGE>

them may have to a trial by jury in any litigation or proceeding based upon or
arising out of this Amendment or any related instrument or agreement or any of
the transactions contemplated by this Amendment or any conduct, dealing,
statements (whether oral or written) or actions of any of them. None of the
Borrowers, the Guarantors, the Lenders or the Agent shall seek to consolidate,
by counterclaim or otherwise, any such action in which a jury trial has been
waived with any other action in which a jury trial cannot be or has not been
waived. These provisions shall not be deemed to have been modified in any
respect or relinquished by any party hereto except by a written instrument
executed by such party.

         (b) Each Borrower and each Guarantor agrees that any legal action or
proceeding with respect to this Amendment or any related instrument or
agreement, including the Credit Agreement as previously amended and as amended
hereby, or with respect to the transactions contemplated hereby, may be brought
in any court of the State of Michigan, sitting in or having jurisdiction over
the County of Wayne, Michigan, or in any federal court located within the
Eastern District of Michigan, and Borrowers and Guarantors hereby submit to and
accept generally and unconditionally the non-exclusive jurisdiction of those
courts with respect to their person and property and irrevocably consent to
service of process in connection with any such action or proceeding by mailing
such service of process (certified or registered, if capable of certification or
registration) to Borrowers and/or Guarantors at the address they may have from
time to time provided to the Agent. Borrowers and Guarantors hereby irrevocably
waive any objection based upon jurisdiction, improper venue or forum non
conveniens in any such suit or proceeding in the above-described courts. Nothing
contained herein shall limit the right of the Agent or the Lenders to serve
process in any other manner permitted by law or limit the right of the Agent or
the Lenders to commence any such action or proceeding in the courts of any other
jurisdiction. Any judicial proceeding by any Borrower or any Guarantor against
the Agent or any Lender involving this Amendment shall be brought only in a
court in Wayne County, Michigan or federal court located within the Eastern
District of Michigan.

                             [signatures next page]

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed and delivered as of the date and year first above written.

                                       CORRPRO COMPANIES, INC.

                                       By: Robert M. Mayer
                                          --------------------------------------

                                       Title: Senior Vice President
                                             -----------------------------------

                                       CSI COATING SYSTEMS INC.

                                       By: Joseph W. Rog
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------

                                       BANK ONE, NA, AS AGENT AND AS A LENDER

                                       By: Gaye C. Plunkett
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------

                                       PNC BANK, NATIONAL ASSOCIATION

                                       By: Larry Reynolds
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------

                                       KEY BANK

                                       By: Anne R. Hohl
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------

                                       FIRSTMERIT BANK

                                       By: Jeff Palker
                                          --------------------------------------

                                       Title: Senior Vice President
                                              ----------------------------------

<PAGE>

                                       COMERICA BANK

                                       By: Rebecca A. Bertin
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------

                                       FIFTH THIRD BANK (NORTHEASTERN OHIO)

                                       By: Raimo De Vries
                                          --------------------------------------

                                       Title: Commercial Banking Officer
                                              ----------------------------------

<PAGE>

                       CONSENT AND AGREEMENT OF GUARANTORS

         As of the date and year first above written, each of the undersigned
hereby:

         (a) fully consents to the terms and provisions of the above Amendment
and the consummation of the transactions contemplated thereby and agrees to all
terms and provisions of the above Amendment applicable to it;

         (b) agrees that each Guaranty, Collateral Document and all other
agreements executed by any of the undersigned in connection with the Credit
Agreement or otherwise in favor of the Agent or the Lenders (collectively, the
"Guarantor Documents") are hereby ratified and confirmed and shall remain in
full force and effect, and each of the undersigned acknowledges that it has no
setoff, counterclaim or defense with respect to any Guarantor Document; and

         (c) acknowledges that its consent and agreement hereto is a condition
to the Lenders' obligation under this Amendment and it is in its interest and to
its financial benefit to execute this consent and agreement.

                                       GOOD-ALL ELECTRIC, INC.

                                       By: Robert M. Mayer
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------

                                       BASS SOFTWARE, INC.

                                       By: Robert M. Mayer
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------

                                       OCEAN CITY RESEARCH CORP.

                                       By: Robert M. Mayer
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------

<PAGE>

                                       CCFC, INC.

                                       By: Robert M. Mayer
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------

                                       ROHRBACK COSASCO SYSTEMS, INC.

                                       By: Robert M. Mayer
                                          --------------------------------------

                                       Title: Vice President
                                              ----------------------------------<PAGE>

                                                                 EXHIBIT 10.3(F)

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (this "Agreement"), by and between MarineMax,
Inc., a Delaware corporation (the "Company"), and William H. McGill, Jr.
("Executive") is entered into and effective as of the 13 day of March, 2002.

                                    RECITALS

         A.       The Company is engaged primarily in the business of selling,
renting, leasing, and servicing boating, nautical, and other related lifestyle
entertainment products and services, and related activities (collectively, the
"Watercraft Business"), and Executive has experience in such business.

         B.       Executive currently serves as Chairman and Chief Executive
Officer of the Company. The Company desires to assure itself of the continued
availability of Executive.

         C.       The Company desires to employ Executive, and Executive desires
to accept such employment, pursuant to the terms and conditions set forth in
this Agreement, which shall replace the existing employment agreement between
the Company and Executive.

                                    AGREEMENT

         NOW, THEREFORE, in consideration of the mutual promises, terms,
covenants, and conditions set forth herein and the performance of each, it is
hereby agreed as follows:

         1. EMPLOYMENT AND DUTIES.

                  (a) EMPLOYMENT. The Company hereby employs Executive, and
Executive hereby agrees to act, as Chairman of the Board and Chief Executive
Officer of the Company. As such, Executive shall have responsibilities, duties,
and authority reasonably accorded to, expected of, and consistent with
Executive's position, and Executive shall report directly to the Board of
Directors of the Company (the "Board"). Executive hereby accepts this employment
upon the terms and conditions herein contained and, subject to paragraph l(c)
hereof, agrees to devote his best efforts and substantially all of his business
time and attention to promote and further the business of the Company.

                  (b) POLICIES. Executive shall faithfully adhere to, execute,
and fulfill all lawful policies established by the Company.

                  (c) OTHER ACTIVITIES. Executive shall not, during the term of
his employment hereunder, be engaged in any other business activity pursued for
gain, profit, or other pecuniary advantage if such activity interferes in any
material respect with Executive's duties and responsibilities hereunder. The
foregoing limitations shall not be construed as prohibiting Executive from (i)
making personal investments in such form or manner as will neither require his
services in the operation or affairs of the companies or enterprises in which
such investments are made nor subject Executive to any conflict of interest with
respect to his duties to the Company, (ii) serving on any civic or charitable
boards or committees, (iii)

<PAGE>

delivering lectures or fulfilling speaking engagements, or (iii) serving, with
the written approval of the Board, as a director of one or more public
corporations, in each case so long as any such activities do not significantly
interfere with the performance of Executive's responsibilities under this
Agreement.

                  (d) PLACE OF PERFORMANCE. Executive shall not be required by
the Company or in the performance of his duties to relocate his primary
residence.

         2. COMPENSATION. For all services rendered by Executive, the Company
shall compensate Executive as follows:

                  (a) BASE SALARY Effective the date hereof, the base salary
payable to Executive shall be Four Hundred Thousand Dollars ($400,000) per year,
payable on a regular basis in accordance with the Company's standard payroll
procedures, but not less than monthly. On at least an annual basis, the Board or
a committee of the Board shall review Executive's performance and may make
increases to such base salary if, in its sole discretion, any such increase is
warranted. In no event shall Executive's base salary be reduced to a level below
Four Hundred Thousand Dollars ($400,000).

                  (b) BONUS OR OTHER INCENTIVE COMPENSATION. Executive shall be
eligible to receive a bonus or other incentive compensation as may be determined
by the Board or a committee of the Board based upon such factors as the Board or
such committee, in its sole discretion, may deem relevant, including, without
limitation, the performance of Executive and the Company; provided, however,
that the Board or a committee of the Board shall establish for each fiscal year
of the Company a bonus program in which Executive shall be entitled to
participate, which provides Executive with a reasonable opportunity, based on
the past compensation practices of the Company and Executive's then base salary,
to maintain or increase Executive's total compensation compared to the previous
fiscal year.

                  (c) EXECUTIVE PERQUISITES, BENEFITS, AND OTHER COMPENSATION.
Executive shall be entitled to receive additional benefits and compensation from
the Company in such form and to such extent as specified below:

                           (i)      INSURANCE COVERAGE. Payment of all premiums
for coverage for Executive and his dependent family members under all health,
hospitalization, disability, dental, life, and other insurance plans that the
Company may have in effect from time to time, with the benefits provided to
Executive to be on terms no less favorable than the benefits provided to other
Company executive officers.

                           (ii)     REIMBURSEMENT FOR EXPENSES. Reimbursement
for business travel and other out-of-pocket expenses reasonably incurred by
Executive in the performance of his services under this Agreement. All
reimbursable expenses shall be appropriately documented in reasonable detail by
Executive upon submission of any request for reimbursement and shall be in a
format and manner consistent with the Company's expense reporting policy.

                                       2

<PAGE>

                           (iii)    VACATION. Paid vacation in accordance with
the applicable policy of the Company as in effect from time to time, but in no
event shall Executive be entitled to less than four (4) weeks paid vacation per
year.

                           (iv)     OTHER EXECUTIVE PERQUISITES. The Company
shall provide Executive with other executive perquisites as may be made
available to or deemed appropriate for Executive by the Board or a committee of
the Board and participation in all other Company-wide employee benefits as are
available to the Company's executive officers from time to time.

         3. NON-COMPETITION AGREEMENT.

                  (a) NON-COMPETITION. Executive shall not, during the period of
his employment by or with the Company, and for a period equal to the longer of
two (2) years immediately following the termination of his employment under this
Agreement or the time during which severance payments are being made by the
Company to Executive in accordance with this Agreement, for any reason
whatsoever, directly or indirectly, for himself or on behalf of or in
conjunction with any other person:

                           (i)      OTHER ACTIVITIES. Engage, as an officer,
director, shareholder, owner, principal, partner, lender, joint venturer,
employee, independent contractor, consultant, advisor, or sales representative,
in any Competitive Business within the Restricted Territory;

                           (ii)     SOLICITATION OF EMPLOYEES. Call upon any
person who is, at that time, within the Restricted Territory, an employee of the
Company or any of its subsidiaries, in a managerial capacity for the purpose or
with the intent of enticing such employee away from or out of the employ of the
Company or any of its subsidiaries;

                           (iii)    SOLICITATION OF CUSTOMERS. Call upon any
person or entity that is, at that time, or that has been, within one (1) year
prior to that time, a customer of the Company or any of its subsidiaries, within
the Restricted Territory for the purpose of soliciting or selling products or
services in direct competition with the Company or any of its subsidiaries
within the Restricted Territory;

                           (iv)     SOLICITATION OF ACQUISITION CANDIDATES. Call
upon any prospective acquisition candidate, on Executive's own behalf or on
behalf of any person, which candidate was, to Executive's knowledge after due
inquiry, either called upon by the Company, or for which the Company made an
acquisition analysis, for the purpose of acquiring such candidate.

                  (b) CERTAIN DEFINITIONS. As used in this Agreement, the
following terms shall have the meanings ascribed to them:

                           (i)      COMPETITIVE BUSINESS shall mean any person
that sells, rents, brokers, leases, stores, repairs, restores, or services
recreational boats or other boating products or provides services relating to
recreational boats or other boating products;

                                       3

<PAGE>

                           (ii)     PERSON shall mean any individual,
corporation, limited liability company, partnership, firm, or other business of
whatever nature;

                           (iii)    RESTRICTED TERRITORY shall mean any state or
other political jurisdiction in which, or any location within two hundred (200)
miles of which, the Company or any subsidiary of the Company maintains any
facilities; sells, rents, brokers, leases, stores, repairs, restores, or
services recreational boats or other boating products; or provides services
relating to recreational boats or other boating products; and

                           (iv)     SUBSIDIARY shall mean the Company's
consolidated subsidiaries, including corporations, partnerships, limited
liability companies, and any other business organization in which the Company
holds at least a fifty percent (50%) equity interest.

                  (c) ENFORCEMENT. Because of the difficulty of measuring
economic losses to the Company as a result of a breach of the foregoing
covenants, and because of the immediate and irreparable damage that could be
caused to the Company for which it would have no other adequate remedy,
Executive agrees that the foregoing covenants may be enforced by the Company in
the event of breach by him, by injunctions and restraining orders.

                  (d) REASONABLE RESTRAINT. It is agreed by the parties that the
foregoing covenants in this paragraph 3 impose a reasonable restraint on
Executive in light of the activities and business of the Company (including the
Company's subsidiaries) on the date of the execution of this Agreement and the
current plans of the Company (including the Company's subsidiaries); but it is
also the intent of the Company and Executive that such covenants be construed
and enforced in accordance with the changing activities, business, and locations
of the Company (including the Company's subsidiaries) throughout the term of
this covenant, whether before or after the date of termination of the employment
of Executive. For example, if, during the term of this Agreement, the Company
(including the Company's subsidiaries) engages in new and different activities,
enters a new business, or establishes new locations for its current activities
or business in addition to or other than the activities or business enumerated
above or the locations currently established therefor, then Executive will be
precluded from soliciting the customers or employees of such new activities or
business or from such new location and from directly competing with such new
business within the Restricted Territory through the term of these covenants.

                  (e) OTHER ACTIVITIES. It is further agreed by the parties
that, in the event that Executive shall cease to be employed hereunder and
enters into a business or pursues other activities not in competition with the
Company (including the Company's subsidiaries), or similar activities or
business in locations, the operation of which, under such circumstances, does
not violate this paragraph 3, and in any event such new business, activities, or
location are not in violation of this paragraph 3 or of Executive's obligations
under this paragraph 3, if any, Executive shall not be chargeable with a
violation of this paragraph 3 if the Company (including the Company's
subsidiaries) shall thereafter enter the same, similar, or a competitive (i)
business, (ii) course of activities, or (iii) location, as applicable.

                  (f) SEPARATE COVENANTS. The covenants in this paragraph 3 are
severable and separate, and the unenforceability of any specific covenant shall
not affect the provisions of

                                       4

<PAGE>

any other covenant. Moreover, in the event any court of competent jurisdiction
shall determine that the scope, time, or territorial restrictions set forth are
unreasonable, then it is the intention of the parties that such restrictions be
enforced to the fullest extent that the court deems reasonable, and the
Agreement shall thereby be reformed.

                  (g) INDEPENDENT AGREEMENT. All of the covenants in this
paragraph 3 shall be construed as an agreement independent of any other
provision in this Agreement, and the existence of any claim or cause of action
of Executive against the Company, whether predicated on this Agreement or
otherwise, shall not constitute a defense to the enforcement by the Company of
such covenants. It is specifically agreed that the period of two (2) years
following termination of employment stated at the beginning of this paragraph 3,
during which the agreements and covenants of Executive made in this paragraph 3
shall be effective, shall be computed by excluding from such computation any
time during which Executive is in violation of any provision of this paragraph
3.

         4. TERM; TERMINATION; RIGHTS ON TERMINATION.

                  (a) TERM. The term of Executive's employment under this
Agreement shall begin on the date hereof and continue for three (3) years, and,
unless terminated sooner as herein provided, shall continue for an additional
one-month period effective on the last day of each calendar month during the
term of this Agreement (the "Term") on the same terms and conditions contained
herein in effect as of the time of renewal.

                  (b) TERMINATION. Executive's employment under this Agreement
may be terminated in any one of the followings ways:

                           (i)      DEATH OF EXECUTIVE. The employment of
Executive shall terminate immediately upon Executive's death provided that the
Company shall, for a period of six (6) months following such death, pay to the
estate of Executive an amount equal to Executive's base salary and continue to
pay all premiums for coverage for Executive's dependent family members under all
health, hospitalization, disability, dental, life, and other insurance plans
that the Company maintained at the time of Executive's death..

                           (ii)     DISABILITY OF EXECUTIVE. If, as a result of
incapacity due to physical or mental illness or injury, Executive shall have
been absent from his full-time duties hereunder for six (6) consecutive months,
then thirty (30) days after receiving written notice (which notice may occur
before or after the end of such six (6) month period, but which shall not be
effective earlier than the last day of such six (6) month period), the Company
may terminate Executive's employment provided Executive is unable to resume his
full-time duties at the conclusion of such notice period. Also, Executive may
terminate his employment if his health should become impaired to an extent that
makes the continued performance of his duties hereunder hazardous to his
physical or mental health or his life, provided that Executive shall have
furnished the Company with a written statement from a qualified doctor to such
effect and provided, further, that, at the Company's request made within thirty
(30) days of the date of such written statement, Executive shall submit to an
examination by a doctor selected by the Company who is reasonably acceptable to
Executive or Executive's doctor and such doctor shall have concurred in the
conclusion of Executive's doctor. In the event Executive's employment

                                       5

<PAGE>

under this Agreement is terminated as a result of Executive's disability,
Executive shall receive from the Company, in a lump-sum payment due within ten
(10) days of the effective date of termination, an amount equal to the average
of the base salary and bonus paid to Executive for the two (2) prior full fiscal
years, for the lesser of the time period then remaining under the Term of this
Agreement or for one (1) year.

                           (iii)    TERMINATION BY THE COMPANY FOR GOOD CAUSE.
The Company may terminate Executive's employment upon ten (10) days prior
written notice to Executive for "Good Cause," which shall mean any one or more
of the following: (A) Executive's willful, material, and irreparable breach of
this Agreement; (B) Executive's gross negligence in the performance or
intentional nonperformance (continuing for thirty (30) days after receipt of
written notice of need to cure) of any of Executive's material duties and
responsibilities hereunder; (C) Executive's willful dishonesty, fraud, or
misconduct with respect to the business or affairs of the Company, which
materially and adversely affects the operations or reputation of the Company;
(D) Executive's conviction of a felony crime involving dishonesty or moral
turpitude; or (E) a confirmed positive illegal drug test result. In the event of
a termination by the Company for Good Cause, Executive shall have no right to
any severance compensation.

                           (iv)     TERMINATION BY THE COMPANY WITHOUT GOOD
CAUSE OR BY EXECUTIVE WITH GOOD REASON. The Company may terminate Executive's
employment without Good Cause during the Term hereof upon the approval of a
majority of the members of the Board, excluding Executive if Executive is a
member of the Board. Executive may terminate his employment under this Agreement
for Good Reason upon ten (10) days prior notice to the Company.

                                    (A) RESULT OF TERMINATION BY THE COMPANY
WITHOUT GOOD CAUSE OR BY EXECUTIVE WITH GOOD REASON. Should the Company
terminate Executive's employment without Good Cause or should Executive
terminate his employment with Good Reason during the Term, the Company shall pay
to Executive for three (3) years after such termination, on such dates as would
otherwise be paid by the Company, an amount equal to the average of the base
salary and bonus paid to Executive for the two (2) prior full fiscal years.
Further, if the Company terminates Executive's employment without Good Cause or
Executive terminates his employment with Good Reason, (1) the Company shall make
the family medical insurance premium payments contemplated by COBRA or provide
comparable coverage for a period of three (3) years after such termination, (2)
all options to purchase Common Stock of the Company held by Executive shall vest
thereupon and shall be exercisable during their full term notwithstanding the
termination of employment, (3) the Company shall maintain life insurance
coverage, comparable to that provided immediately prior to termination, for a
period of three (3) years thereafter with the beneficiary designated by
Executive, and (4) Executive shall be entitled to receive all other unpaid
benefits due and owing through Executive's last day of employment. Further, any
termination by the Company without Good Cause or by Executive for Good Reason
shall operate to shorten the period of non-competition set forth in paragraph 3
and during which the terms of paragraph 3 apply to two (2) years from the date
of termination of employment.

                                    (B) DEFINITION OF GOOD REASON. Executive
shall have "Good Reason" to terminate his employment upon the occurrence of any
of the following events:

                                       6

<PAGE>

(1) Executive is demoted by means of a reduction in authority, responsibilities,
or duties; (2) Executive's annual base salary as determined pursuant to
paragraph 2 is reduced to a level that is less than ninety percent (90%) of the
base salary paid to Executive during the prior contract year under this
Agreement; (3) a change is made in Executive's bonus other than as contemplated
by paragraph 2(b), unless Executive has agreed in writing to that demotion,
reduction, or change; or (4) the Company breaches a material provision of this
Agreement.

                           (v)      RESIGNATION BY EXECUTIVE WITHOUT GOOD
REASON. Executive may, without cause, and without Good Reason terminate his own
employment under this Agreement, effective thirty (30) days after written notice
is provided to the Company or such earlier time as any such resignation may be
accepted by the Company. If Executive resigns or otherwise terminates his
employment without Good Reason, Executive shall receive no severance
compensation.

                           (vi)     RETIREMENT. The Company (so long as
Executive does not have Good Reason to terminate his employment under this
Agreement) and Executive (so long as the Company does not have Good Cause to
terminate Executive's employment under this Agreement) shall each have the
right, upon not less than thirty (30) days prior written notice to the other, to
elect that Executive Retire from his services to the Company upon reaching the
age of sixty-five (65) provided that, if requested by the Company prior to the
end of the notice period, Executive shall defer his Retirement for a period of
up to six (6) months from the date of the notice and continue his employment
under this Agreement. In the event of any such Retirement, Executive shall make
himself available for a period of thirty-six (36) months following the date of
Retirement to render consulting services to the Company requiring not more than
four (4) days per month and the Company shall (A) pay Executive an amount equal
to fifty percent (50%) of the average of the base salary and bonus paid to him
for the two (2) full fiscal years immediately preceding such Retirement, (B)
provide Executive with medical coverage for life comparable to that provided
during the term of his employment under this Agreement, and (C) maintain life
insurance coverage comparable to that provided at the date of Retirement for a
period of three (3) years with the beneficiary designated by Executive, and (D)
vest all unvested options to the extent not previously vested with such options
to be exercisable during their full term. The provisions respecting
non-competition provided for in paragraph 3 shall be applicable during the
thirty-six (36) month period and for two (2) years thereafter.

                           (vii)    CHANGE IN CONTROL OF THE COMPANY.

                                    (A) POSSIBILITY OF CHANGE IN CONTROL.
Executive understands and acknowledges that the Company may be merged or
consolidated with or into another entity and that such entity shall
automatically succeed to the rights and obligations of the Company hereunder or
that the Company may undergo another type of Change in Control. In the event
such a merger or consolidation or other Change in Control is initiated prior to
the end of the Term, then the provisions of this paragraph 4(b)(vii) shall be
applicable.

                                    (B) TERMINATION BY EXECUTIVE. Subject to the
exceptions set forth in paragraph 4(b)(vii)(E), if any Change of Control is
initiated during Executive's employment hereunder, Executive may, at his sole
discretion, elect to terminate his employment under this Agreement by providing
written notice to the Company at least five (5) business days

                                       7

<PAGE>

at any time prior to or within one (1) year after the closing of the transaction
giving rise to the Change in Control. In such case, the applicable provisions of
paragraph 4(b)(iv) hereof will apply as though the Company had terminated
Executive's employment without Good Cause during the Term; however, under such
circumstances, the amount of the severance payments due to Executive shall be
paid in a lump sum, the non-competition provisions of paragraph 3 hereof shall
all apply for a period of one (1) year from the effective date of termination,
and Executive shall make himself available, for a period of twelve (12) months
following the date of his termination of employment, to render consulting
services relating to the business and operations of the Company requiring not
more than four (4) days a month. To the extent that Executive shall be
determined by a final and unappealable determination of a court of competent
jurisdiction to have willfully violated either the non-competition or consulting
requirement, Executive shall reimburse the Company for Five Hundred Thousand
Dollars ($500,000) of the severance amount paid to him for either violation and
One Million Dollars ($1,000,000) of the severance amount paid to him for a
violation of both covenants.

                                    (C) EFFECTIVE DATE OF CHANGE IN CONTROL. For
purposes of applying paragraph 4 hereof under the circumstances described in
4(b)(vii)(B) above, the effective date of Change in Control will be the closing
date of the transaction giving rise to the Change in Control and all
compensation, reimbursements, and lump-sum payments due Executive must be paid
in full by the Company promptly following Executive's election to terminate his
employment following such Change in Control. Further, Executive will be given
sufficient time and opportunity to elect whether to exercise all or any of his
options to purchase the Company's Common Stock, such that he may convert the
options to shares of the Company's Common Stock at or prior to or within one (1)
year after the closing of the transaction giving rise to the Change in Control,
if he so desires.

                                    (D) DEFINITION OF CHANGE IN CONTROL. A
"Change in Control" shall mean a change in control of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A promulgated under the Securities Exchange Act of 1934, as amended, as in
effect on the date of this Agreement, or if Item 6(e) is no longer in effect,
any regulations issued by the Securities and Exchange Commission pursuant to the
Securities Exchange Act of 1934, as amended, which serve similar purposes;
provided further that, without limitation, a Change in Control shall be deemed
to have occurred if and when:

                                             (1) TURNOVER OF BOARD. The
following individuals no longer constitute a majority of the members of the
Board: (A) the individuals who, as of the date of this Agreement, constitute the
Board (the "Current Directors"); (B) the individuals who thereafter are elected
to the Board and whose election, or nomination for election, to the Board was
approved by a vote of at least two-thirds (2/3) of the Current Directors then
still in office (such directors becoming "Additional Directors" immediately
following their election); and (C) the individuals who are elected to the Board
and whose election, or nomination for election, to the Board was approved by a
vote of at least two-thirds (2/3) of the Current Directors and Additional
Directors then still in office (such directors also becoming "Additional
Directors" immediately following their election);

                                       8

<PAGE>

                                             (2) TENDER OFFER. A tender offer or
exchange offer is made whereby the effect of such offer is to take over and
control the Company, and such offer is consummated for the equity securities of
the Company representing twenty percent (20%) or more of the combined voting
power of the Company's then outstanding voting securities;

                                             (3) MERGER OR CONSOLIDATION. The
stockholders of the Company shall approve a merger, consolidation,
recapitalization, or reorganization of the Company, a reverse stock split of
outstanding voting securities, or consummation of any such transaction if
stockholder approval is not obtained, other than any such transaction that would
result in at least seventy-five percent (75%) of the total voting power
represented by the voting securities of the surviving entity outstanding
immediately after such transaction being beneficially owned by the holders of
outstanding voting securities of the Company immediately prior to the
transaction, with the voting power of each such continuing holder relative to
other such continuing holders not substantially altered in the transaction; or

                                             (4) LIQUIDATION OR SALE OF ASSETS.
The stockholders of the Company shall approve a plan of complete liquidation of
the Company or an agreement for the sale or disposition by the Company of all or
a substantial portion of the Company's assets to another person or entity, which
is not a wholly owned subsidiary of the Company (i.e., fifty percent (50%) or
more of the total assets of the Company).

                                    (E) EXCEPTIONS FROM CHANGE IN CONTROL. A
Change in Control shall not be considered to have taken place for purposes of
this paragraph 4 in the event that both (1) the Change in Control shall have
been specifically approved by at least two-thirds (2/3) of the Current and
Additional Directors (as defined above) and (2) the provisions of this Agreement
remain in full force and effect as to Executive. Sales of the Company's Common
Stock beneficially owned or controlled by the Company shall not be considered in
determining whether a Change in Control has occurred.

                                    (F) EXCESS PARACHUTE PAYMENTS. Anything in
this Agreement to the contrary notwithstanding, in the event it shall be
determined that any payment, distribution or other action by the Company to or
for the benefit of the Executive (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise, (including
any additional payments required under this Section 4((b)(vii)(F)) (a "Payment")
would be subject to an excise tax imposed by Section 4999 of the Internal
Revenue Code of 1986, as amended (the "Code"), or any interest or penalties are
incurred by the Executive with respect to any such excise tax (such excise tax,
together with any such interest and penalties, are hereinafter collectively
referred to as the "Excise Tax"), the Company shall make a payment to the
Executive (a "Gross-Up Payment") in an amount such that after payment by the
Executive of all taxes (including any Excise Tax) imposed upon the Gross-Up
Payment, the Executive retains (or has had paid to the Internal Revenue Service
on his behalf) an amount of the Gross-Up Payment equal to the Excise Tax imposed
upon the Payments. The Gross-Up Payment will be due and payable by the Company
or its successor within ten (10) days after Executive delivers a written request
for reimbursement accompanied by a copy of his tax return(s) showing the Excise
Tax actually incurred by Executive.

                                       9

<PAGE>

                                    (G) NOTIFICATION. Executive shall be
notified in writing by the Company at any time that the Company anticipates that
a Change in Control may take place.

                  (c) PAYMENTS TO TERMINATION DATE. Upon termination of
Executive's employment under this Agreement for any reason provided above,
Executive shall be entitled to receive all compensation earned and all benefits
and reimbursements due through the effective date of termination. Additional
compensation subsequent to termination, if any, will be due and payable to
Executive only to the extent and in the manner expressly provided above. All
other rights and obligations of the Company and Executive under this Agreement
shall cease as of the effective date of termination, except that the Company's
obligations under paragraph 8 (relating to indemnification of Executive) and
Executive's obligations under paragraph 3 (relating to non-competition),
paragraph 5 (relating to return of Company property), paragraph 6 (relating to
inventions), paragraph 7 (relating to trade secrets), and paragraph 9 (relating
to prior agreements) shall survive such termination in accordance with their
terms.

                  (d) FAILURE TO PAY EXECUTIVE. If termination of Executive's
employment arises out of the Company's failure to pay Executive on a timely
basis the amounts to which he is entitled under this Agreement or as a result of
any other breach of this Agreement by the Company, as determined by a court of
competent jurisdiction or pursuant to the provisions of paragraph 14, the
Company shall pay all amounts and damages to which Executive may be entitled as
a result of such breach, including interest thereon and all reasonable legal
fees and expenses and other costs incurred by Executive to enforce his rights
hereunder. Further, none of the provisions of paragraph 3 (relating to
non-competition) shall apply in the event Executive's employment under this
Agreement is terminated as a result of a breach by the Company.

                  (e) MITIGATION. The Company and Executive have mutually agreed
that it would be appropriate to mitigate the costs to the Company of any
severance arrangements if Executive accepts other employment, the Company
secures insurance or other coverage at its cost, or Executive can obtain
coverage under any governmental program without expense to Executive, subject in
each case to providing comparable benefits to Executive with no out-of-pocket
cost to him. As a result, all medical, disability, and other similar benefits
payable to Executive following the termination of his employment under this
Agreement shall be reduced on a dollar-for-dollar basis by (i) any medical,
disability, and other similar benefits received by or which may reasonably be
receivable by Executive from any subsequent employer, (ii) any governmental
benefits available to Executive upon premium payments made or reimbursed by the
Company to or on behalf of Executive, or (iii) any insurance, annuity, or
comparable payments or coverage furnished by the Company at no cost to Executive
as an alternative to the benefits provided by this Agreement.

         5. RETURN OF COMPANY PROPERTY. All records, designs, patents, business
plans, financial statements, manuals, memoranda, lists, and other property
delivered to or compiled by Executive by or on behalf of the Company (or its
subsidiaries) or its representatives, vendors, or customers that pertain to the
business of the Company (or its subsidiaries) shall be and remain the property
of the Company and be subject at all times to its discretion and control.
Likewise, all correspondence, reports, records, charts, advertising materials,
and other similar data pertaining to the business, activities, or future plans
of the Company (or its subsidiaries) that is

                                       10

<PAGE>

collected by Executive shall be delivered promptly to the Company without
request by it upon termination of Executive's employment.

         6. INVENTIONS. Executive shall disclose promptly to the Company any and
all significant conceptions and ideas for inventions, improvements, and valuable
discoveries, whether patentable or not, which are conceived or made by
Executive, solely or jointly with another, during the period of employment or
within one (1) year thereafter, and which are directly related to the business
or activities of the Company (or its subsidiaries) and which Executive conceives
as a result of his employment by the Company. Executive hereby assigns and
agrees to assign all his interests therein to the Company or its nominee.
Whenever requested to do so by the Company, Executive shall execute any and all
applications, assignments, and other instruments that the Company shall deem
necessary to apply for and obtain Letters Patent of the United States or any
foreign country or to otherwise protect the Company's interest therein.

         7. TRADE SECRETS. Executive agrees that he will not, during or after
the period of employment under this Agreement, disclose the specific terms of
the Company's relationships or agreements with its respective significant
vendors or customers, or any other significant and material trade secret of the
Company, whether in existence or proposed, to any person, firm, partnership,
corporation, or business for any reason or purpose whatsoever.

         8. INDEMNIFICATION. In the event Executive is made a party to any
threatened, pending, or completed action, suit, or proceeding, whether civil,
criminal, administrative, or investigative (other than an action by the Company
against Executive), by reason of the fact that he is or was performing services
under this Agreement, then the Company shall indemnify Executive against all
expenses (including attorneys' fees), judgments, fines, and amounts paid in
settlement, as actually and reasonably incurred by Executive in connection
therewith to the maximum extent permitted by applicable law. The advancement of
expenses shall be mandatory. In the event that both Executive and the Company
are made a party to the same third-party action, complaint, suit, or proceeding,
the Company agrees to engage competent legal representation, and Executive
agrees to use the same representation, provided that if counsel selected by the
Company shall have a conflict of interest that prevents such counsel from
representing Executive, Executive may engage separate counsel and the Company
shall pay all attorneys' fees of such separate counsel. Further, while Executive
is expected at all times to use his best efforts to faithfully discharge his
duties under this Agreement, Executive cannot be held liable to the Company for
errors or omissions made in good faith if Executive has not exhibited gross,
willful, and wanton negligence and misconduct or performed criminal and
fraudulent acts that materially damage the business of the Company.
Notwithstanding this paragraph 8, the provision of any written indemnification
agreement applicable to the directors of the Company to which Executive shall be
a party shall apply rather than this paragraph 8 to the extent inconsistent with
this paragraph 8.

         9. NO PRIOR AGREEMENTS. Executive hereby represents and warrants to the
Company that the execution of this Agreement by Executive and his employment by
the Company and the performance of his duties hereunder will not violate or be a
breach of any agreement with a former employer, client, or any other person or
entity. Further, Executive agrees to indemnify the Company for any claim,
including, but not limited to, attorneys' fees and

                                       11

<PAGE>

expenses of investigation, by any such third party that such third party may now
have or may hereafter come to have against the Company based upon or arising out
of any non-competition, invention, or secrecy agreement between Executive and
such third party that was in existence as of the date of this Agreement.

         10. ASSIGNMENT; BINDING EFFECT. Executive understands that he is being
employed by the Company on the basis of his personal qualifications, experience,
and skills. Executive agrees, therefore, he cannot assign all or any portion of
his performance under this Agreement. Subject to the preceding two (2) sentences
and the express provisions of paragraph 11 below, this Agreement shall be
binding upon, inure to the benefit of and be enforceable by the parties hereto
and their respective heirs, legal representatives, successors, and assigns.

         11. COMPLETE AGREEMENT. This Agreement is not a promise of future
employment. Executive has no oral representations, understandings, or agreements
with the Company or any of its officers, directors, or representatives covering
the same subject matter as this Agreement. This written Agreement is the final,
complete, and exclusive statement and expression of the agreement between the
Company and Executive and of all the terms of this Agreement, and it cannot be
varied, contradicted, or supplemented by evidence of any prior or
contemporaneous oral or written agreements. This written Agreement may not be
later modified except by a further writing signed by a duly authorized officer
of the Company and Executive, and no term of this Agreement may be waived except
by writing signed by the party waiving the benefit of such term. This Agreement
hereby supersedes any other employment agreements or understandings, written or
oral, between the Company and Executive.

         12. NOTICE. Whenever any notice is required hereunder, it shall be
given in writing addressed as follows:

         To the Company:              MarineMax, Inc.
                                      18167 U.S. Highway 19 North, Suite 499
                                      Clearwater, Florida 33764
                                      Attention: Corporate Secretary

         To Executive:                William H. McGill, Jr.
                                      18167 U.S. Highway 19 North, Suite 499
                                      Clearwater, Florida 33764

         In either case with a        Greenberg Traurig, LLP
         copy to:                     2375 East Camelback Road
                                      Suite 700
                                      Phoenix, Arizona  85016
                                      Attention: Robert S. Kant, Esq.

         Notice shall be deemed given and effective on the earlier of three (3)
days after the deposit in the U.S. mail of a writing addressed as above and sent
first class mail, certified, return receipt requested, or when actually
received. Either party may change the address for notice by notifying the other
party of such change in accordance with this paragraph 13.

                                       12

<PAGE>

         13. SEVERABILITY; HEADINGS. If any portion of this Agreement is held
invalid or inoperative, the other portions of this Agreement shall be deemed
valid and operative and, so far as is reasonable and possible, effect shall be
given to the intent manifested by the portion held invalid or inoperative. The
paragraph headings herein are for reference purposes only and are not intended
in any way to describe, interpret, define or limit the extent or intent of the
Agreement or of any part hereof.

         14. MEDIATION ARBITRATION. All disputes arising out of this Agreement
shall be resolved as set forth in this paragraph 15. If any party hereto desires
to make any claim arising out of this Agreement ("Claimant"), then such party
shall first deliver to the other party ("Respondent") written notice ("Claim
Notice") of Claimant's intent to make such claim explaining Claimant's reasons
for such claim in sufficient detail for Respondent to respond. Respondent shall
have ten (10) business days from the date the Claim Notice was given to
Respondent to object in writing to the claim ("Notice of Objection"), or
otherwise cure any breach hereof alleged in the Claim Notice. Any Notice of
Objection shall specify with particularity the reasons for such objection.
Following receipt of the Notice of Objection, if any, Claimant and Respondent
shall immediately seek to resolve by good faith negotiations the dispute alleged
in the Claim Notice, and may at the request of either party, utilize the
services of an independent mediator. If Claimant and Respondent are unable to
resolve the dispute in writing within ten (10) business days from the date
negotiations began, then without the necessity of further agreement of Claimant
or Respondent, the dispute set forth in the Claim Notice shall be submitted to
binding arbitration (except for claims arising out of paragraphs 3 or 7 hereof),
initiated by either Claimant or Respondent pursuant to this paragraph. Such
arbitration shall be conducted before a panel of three (3) arbitrators in Tampa,
Florida, in accordance with the National Rules for the Resolution of Employment
Disputes of the American Arbitration Association ("AAA") then in effect provided
that the parties may agree to use arbitrators other than those provided by the
AAA. The arbitrators shall not have the authority to add to, detract from, or
modify any provision hereof nor to award punitive damages to any injured party.
The arbitrators shall have the authority to order back-pay, severance
compensation, vesting of options (or cash compensation in lieu of vesting of
options), reimbursement of costs, including those incurred to enforce this
Agreement, and interest thereon in the event the arbitrators determine that
Executive was terminated without disability or without Good Cause, as defined in
paragraphs 4(b) and 4(c) hereof, respectively, or that the Company has otherwise
materially breached this Agreement. A decision by a majority of the arbitration
panel shall be final and binding. Judgment may be entered on the arbitrators'
award in any court having jurisdiction. The direct expense of any mediation or
arbitration proceeding and, to the extent Executive prevails, all reasonable
legal fees shall be borne by the Company.

         15. NO PARTICIPATION IN SEVERANCE PLANS. Except as contemplated by this
Agreement, Executive acknowledges and agrees that the compensation and other
benefits set forth in this Agreement are and shall be in lieu of any
compensation or other benefits that may otherwise be payable to or on behalf of
Executive pursuant to the terms of any severance pay arrangement of the Company
or any affiliate thereof, or any other similar arrangement of the Company or any
affiliates thereof providing for benefits upon involuntary termination of
employment.

                                       13

<PAGE>

         16. GOVERNING LAW. This Agreement shall in all respects be construed
according to the laws of the state of Florida, notwithstanding the conflict of
laws provisions of such state.

         17. COUNTERPARTS; FACSIMILE. This Agreement may be executed by
facsimile and in two (2) or more counterparts, each of which shall be deemed an
original and all of which together shall constitute but one and the same
instrument.

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

                                 MARINEMAX, INC.

                                 By: /s/ Michael H. McLamb
                                     -------------------------------------------

                                 Title V.P. CFO
                                       -----------------------------------------

                                 Name: Michael H. McLamb
                                       -----------------------------------------

                                 Its: V.P. CFO
                                      ------------------------------------------

                                 EXECUTIVE:
                                             /s/ Bill McGill
                                      ------------------------------------------
                                 William H. McGill, Jr.

                                       14

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