Document:

Global Sources Limited
                        1055 Parsippany Blvd., Suite 106
                          Parsippany, New Jersey 07054

                                                         As of December 31, 2000

James J. Strupp
c/o Global Sources Limited
1055 Parsippany Blvd., Suite 106
Parsippany, New Jersey 07054

Dear Mr. Strupp:

                  This letter agreement amends (the "Amendment") that certain
employment agreement dated as of March 1, 1999 (the "Employment Agreement) by
and between Global Sources Limited, a Delaware corporation (the "Company"), and
James J. Strupp ("You"). Except as otherwise provided herein, the Employment
Agreement shall remain in full force and effect.

                  For and in consideration of the Company granting to You
options to purchase up to 1,000,000 shares of the Company's common stock, par
value $.001 per share, at an exercise price equal to $______ per share (110% of
the fair market value at December 31, 2000, You hereby waive any and all cash
compensation becoming due and owing to you on or before June 30, 2000 pursuant
to the Employment Agreement. The foregoing waiver shall have no effect on any
transaction bonus in the form of stock options owing to You under the Employment
Agreement for the period ended June 30, 2000.

                  You hereby further agree that, for the period commencing July
1, 2000, You are deferring all cash compensation which shall be due You under
the Employment Agreement unless and until such time as the board of directors of
the Company (the "Board") shall determine, in its absolute discretion, that
sufficient working capital is available to the Company to satisfy its
obligations as incurred in the ordinary course of its business and has the
ability to pay accrued and unpaid cash compensation to You and Mr. John D.
Mazzuto. Should the Board determine that sufficient funds are available to
satisfy such obligation, You shall be entitled to receive cash compensation
owing to You under the Employment Agreement, payable in the amount and at such
times as determined by the Board in its absolute discretion.

                  This Amendment may be executed in two or more counterparts,
each of which when executed shall be deemed to be an original, and all of which,
when taken together, shall constitute one and the same document. By executing
below, You hereby represent and warrant to the Company that you have the
requisite capacity to execute, deliver and perform this Amendment and that this
Amendment constitutes your legal, valid and binding obligation, enforceable
against You in accordance with its terms. This Amendment may not be modified or
amended, except by an instrument in writing signed by the Company and You.

                  Please evidence your agreement to this Amendment by executing
and returning the enclosed copy of this Amendment to the Company.

                                              Very truly yours,

                                              GLOBAL SOURCES LIMITED

                                              By: /s/ John D. Mazzuto
                                                  ------------------------------
                                                  Name: John D. Mazzuto
                                                  Title: President

ACKNOWLEDGED AND AGREED TO
AS OF THIS 31st DAY OF DECEMBER, 2000 BY:

/s/ James J. Strupp
--------------------------------
James J. StruppEMPLOYMENT AGREEMENT

                  THIS EMPLOYMENT AGREEMENT ("Agreement") is made as of the 25th
day of August 1999, by and between PLATINUM  EXECUTIVE SEARCH,  INC., a New York
corporation  with an office  for the  conduct  of its  business  at 342  Madison
Avenue,  .York Suite 1500, New York, New York 10173 (the  "Company"),  and FRANK
FAVA, an individual  residing at 333 East 53rd Street,  New York, New York 10022
(the "Executive").

                  WHEREAS,  the Company  desires to employ the  Executive as the
President  of a  human  resource  practice  group  to do  business  under a name
mutually acceptable to the parties,  and which will be formed and established as
a separate,  wholly-owned  subsidiary  of the Company (such  subsidiary,  or any
other set of discrete  areas of business  over which  Executive  is given direct
responsibility  as agreed between  Executive and Company,  herein referred to as
the "HRG"), and as a Vice President of the Company, and the Executive desires to
be employed by HRG and the Company in such capacity; and

                  WHEREAS,  the parties hereto desire to enter into an agreement
of  employment  mutually  beneficial  to said  parties,  and for the  purpose of
defining the rights, duties and obligations of each of the parties hereto;

                  NOW,  THEREFORE,  for good  and  valuable  consideration,  the
sufficiency  and  receipt of which is hereby  acknowledged,  the Company and the
Executive agree as follows:

         1.  Employment.  Upon the terms and subject to the  conditions  of this
Agreement,  the Company  hereby  employs the Executive and the Executive  hereby
accepts  employment by the Company on the terms and conditions  hereinafter  set
forth. Executive will, either before or promptly upon commencing employment with
the  Company,  dissolve  and  liquidate  the  Corporation  and cease  conducting
business  therein  except  insofar as  necessary  to wind up and  liquidate  the
Corporation's affairs;  provided,  however, that he shall do so in a manner that
does not materially interfere with the performance of his duties for the Company
or HRG.

<PAGE>

         2. Subject  Term. to the  provisions  of Section 10 of this  Agreement,
Executive's  employment  shall be for a period of five (5) years  commencing  on
October 1, 1999 and terminating on September 30, 2004.

         3. Executive's Position, Duties and Authority.

            3.1  Position.  The  Company  shall  employ the  Executive,  and the
Executive  shall  serve  as the  President  of HRG and a Vice  President  of the
Company.

            3.2  Description.  The  Executive  shall  perform  such  duties  and
responsibilities  on a full time basis as shall be  reasonably  assigned  to the
Executive by the President and Chief Executive Officer of the Company, and which
are customarily  incident to the day-to-day  management and operation of HRG and
the  Company or the offices of  President  and a  Vice-President,  respectively,
including,  but not limited to performing various administrative duties as shall
be reasonably  assigned to the  Executive by the  President and Chief  Executive
Officer of the Company.

            3.3  Authority.  At all times during the Term,  the Executive  shall
report directly to the Chairman and Chief Executive  Officer of the Company,  or
to such other senior  executive as the Chairman and Chief  Executive  Officer of
the Company may designate.

         4. Full-Time Services.

            4.1 General.  The Executive  shall devote  substantially  all of his
business  time,  labor,  skill and  energy to the  business  and  affairs of the
Company  and to the duties and  responsibilities  referred  to in Section 3.2 of
this Agreement

            4.2 Opportunities;  Investments.  The Executive covenants and agrees
that, during the Term, he shall inform the Company of each business  opportunity
related to the business of the Company or any of the Company's  subsidiaries  or
affiliates  of  which  he  becomes  aware  and  that he will  not,  directly  or
indirectly, exploit any such opportunity for his own account, nor will he render
any  services to any other  person or  business,  or acquire any interest of any
type in any other  business,  that  competes with any business of the Company or
any of the Company's subsidiaries or affiliates.

<PAGE>

         5. Location of Employment.  Unless the Executive  consents otherwise in
writing,  the principal  location for the  performance  of his duties  hereunder
shall be at the Company's  offices in New York City or at 200 Park Avenue South,
New York, New York.

         6. Base Salary/Bonuses.

            6.1 Base Salary.  The Company shall,  commencing October 1, 1999 and
during the  continuance  of the  Executive's  employment  hereunder,  pay to the
Executive, and the Executive agrees to accept, in consideration of his services,
a salary (the "Base  Salary") (i) from the Effective  Date through the remainder
of the contract,  at a rate of TEN THOUSAND AND NO/l00THS  DOLLARS  ($10,000.00)
per month.  All Base Salary shall be payable in  accordance  with the  Company's
normal payroll  practices,  so long as the Executive's  employment  continues as
provided by this Agreement.

            6.2 Bonuses. During the Term of this Agreement,  the Executive shall
be  eligible  to receive  the  following  bonus  payments  (each a "Bonus,"  and
collectively, the "Bonuses"):

            (a) An annual  (calendar  year) bonus,  payable at the discretion of
            the Board of Directors,  of no less than 15 percent of the increase,
            if any, in pre-tax profits of HRG; and

            (b) A  bonus  equal  to 3  percent  of  the  purchase  price  of any
            acquisition of another human resource company made by the Company or
            one of its  affiliates  that was  originated  or  introduced  by the
            Executive, payable at the time of the closing of the acquisition.

            (c)  Calculation  of pre-tax  profits shall be made in good faith by
            the Company's Chief Financial Officer  consistent with the Company's
            usual and customary practice.

            6.3  Signing  Bonus.  Upon  commencement  of  employment  under this
Agreement,  the Company  shall issue to Executive  180,000  shares of its common
stock (the  "Shares").  The Shares  shall be subject to the  following  keepwell
arrangements:
<PAGE>

            (a) Initial Keepwell. During the one hundred eighty (180) day period
            commencing on the date that the Form S-4  registration  statement of
            the  Company  is  declared  effective  by  the  Securities  Exchange
            Commission (" Market  Date"),  18,000 of the Shares shall be subject
            to an initial keepwell feature (the "Initial  Keepwell  Guarantee").
            The Initial Keepwell  Guarantee shall require that in the event that
            the mean of the last asked price quoted by the primary  market maker
            for the Company on the date that  Executive  sells any of his Shares
            to which the Initial  Keepwell  Guarantee  applies (an "Initial Sale
            Date")  does not at  least  equal  $2.00,  Executive  shall  receive
            additional  shares so that the total number of the Shares subject to
            the  Initial   Keepwell   Guarantee  owned  by  Executive  plus  the
            additional  shares so issued to Executive  multiplied  by the actual
            mean  price on such  Initial  Sale Date  would  have  been  equal to
            $36,000.  Notwithstanding the foregoing, Executive hereby agrees and
            acknowledges that in the event that he attempts to sell an aggregate
            of more than 9,000 of the Shares  during any thirty  (30) day period
            during the term that the Initial Keepwell is in effect,  the Initial
            Keepwell shall only apply to the first 9,000 Shares sold during such
            thirty  (30) day  period,  and that in no event  shall  the  Initial
            Keepwell  Guarantee  apply  to  more  than  18,000  of  the  Shares.
            Executive  further  acknowledges  that the  Initial  Keepwell  shall
            terminate  on the date that is one hundred  eighty  (180) days after
            the Market Date.

            (b) Anniversary  Keepwell. On the one year anniversary of the Market
            Date (the  "Anniversary  Date"),  162,000 of the  Shares,  being the
            remainder  of the  Shares  not  originally  subject  to the  Initial
            Keepwell  Guarantee,  or so many  thereof that  Executive  then owns
            ("Residual  Shares"),  shall be subject to a keepwell  feature  (the
            "Anniversary   Keepwell   Guarantee").   The  Anniversary   Keepwell
            Guarantee  shall require that in the event that the mean of the last
            asked price quoted by the primary market maker for the Merged Entity
            on each of the five (5) business days preceding the Anniversary Date
            (the  "Average Mean Price") does not at least equal $2.00 per share,
            Executive shall receive additional shares so that on the Anniversary
            Date the total number of shares owned in the  aggregate by Executive
            multiplied  by the  Average  Mean Price shall be equal to the amount
<PAGE>

            determined by multiplying $2.00 by the number of Residual Shares. In
            the event that the total number of Shares owned in the  aggregate by
            Executive  multiplied  by the  Average  Price is equal to or greater
            than $324,000  minus the aggregate  consideration  the Executive has
            received for sales of Shares (excluding from this  determination the
            Shares originally  subject to the Initial Keepwell  Guarantee),  the
            Anniversary Keepwell Guaranty shall not apply.

            (c)  Termination  of Keepwells.  The parties hereto hereby agree and
            acknowledge  that in the event that the mean of the last asked price
            quoted by the primary  market maker for the Company on each business
            day during any period consisting of at least twenty (20) consecutive
            business days exceeds $3.00, the Initial Keepwell  Guarantee and the
            Anniversary Keepwell Guarantee shall become void and Executive shall
            retain no rights to any keepwell features or guarantees.

         7.  Stock  Options.  Commencing  with the Term of this  Agreement,  the
Executive shall be eligible to receive the following options (collectively,  the
"Stock  Options") to purchase  shares of the Company's  Common Stock as provided
below:

            Stock  Options,  to be issued  January  5,2000,  to  acquire  25,000
            shares, as adjusted for any stock splits, stock dividends or similar
            events  occurring after the date hereof,  of the Common Stock of the
            Company,  at a price  equal to the  market  value  of the  Company's
            Common Stock as of twenty (20) days after  becoming a public company
            with registered Common Stock.

The  Stock  Options  shall  fully  vest on the  date of  their  issuance  to the
Executive,  shall not be transferable  except upon the optionee's death,  shall,
unless terminated,  be exercisable for 10 years from the date of issuance, shall
be subject to early termination upon cessation of employment with the Company as
set forth in greater  detail in  Exhibit A hereto,  and shall be subject to such
other terms and conditions  applicable to stock options of the Company  pursuant
to the Company's stock option plan.

         8.  Expenses;  Vacation.  The Company shall  reimburse the Executive in
accordance with the Company's regular procedures in effect from time to time and
in form  suitable to establish  the validity of such  expenses for tax purposes,
all ordinary,  reasonable and necessary
<PAGE>

travel, entertainment and other business expenses as shall be incurred by him in
the performance of his duties hereunder.  During the Term of this Agreement, the
Executive shall be entitled to twenty (20) days vacation annually with pay.

         9.  Benefits.  During the Term,  the  Executive  shall be  eligible  to
participate in any pension or profit-sharing  plan or program of the Company now
existing or hereafter  established,  on terms no less  favorable than those made
available to other senior executives of the Company. Upon meeting all applicable
eligibility requirements,  the Executive shall be entitled to receive such other
benefits or rights as may be provided under any employment benefit plan provided
by  the  Company  that  is  now  or  hereafter  will  be  reflected,   including
participation in life, medical, disability and dental insurance plans.

         10. Termination.

            10.1 Notwithstanding the provisions of Sections 1 and 2 hereof, this
Agreement may be terminated prior to the expiration of the Term by the President
and Chief  Executive  Officer of the Company upon the  occurrence  of any of the
following events:

                  10.1.1 Upon the death of the Executive;

                  10.1.2  Upon the  inability  of the  Executive  to perform his
duties in any material  respects on account of illness or other  incapacity  for
the  longer of (i) three (3) months in any  period of 12  consecutive  months or
(ii) any longer period prescribed by any applicable law;

                  10.1.3 For Cause, which shall be defined as:

            (a) the Executive is convicted of a felony criminal offense, or of a
            criminal offense involving any act or acts of moral turpitude;

            (b) The Executive is found guilty of any act of dishonesty, fraud or
            theft from the  Company,  or any of the  Company's  subsidiaries  or
            affiliates;

            (c) In the event of willful malfeasance,  gross negligence, or gross
            or willful  material  misconduct  in the  performance  of his duties
            hereunder; or
<PAGE>

            (d)  Upon  the  failure  or  refusal  by the  Executive  to  perform
            according  to  or  to  comply  with  the  reasonable   policies  and
            directions  established  by the Company after written notice of such
            non-compliance  stating  what is required of the  Executive  to cure
            such  non-compliance  and a  reasonable  opportunity  to  cure  such
            non-compliance  within ten (10)  business  days of  delivery of such
            notice.

         11. Confidential Information; Noncompetition.

            11.1 The  Executive  shall be prohibited  from  disclosing to anyone
(except to the extent  reasonably  necessary to perform the  Executive's  duties
hereunder) any  confidential  information  concerning the business or affairs of
the Company or the Company's  subsidiaries or affiliates which the Executive may
have  acquired  in the  course of and as  incident  to his  employment  or prior
dealings  with  the  Company  or  the  Company's   subsidiaries  or  affiliates,
including,  without  limitation,  client lists,  business or trade  secrets,  or
methods or  techniques  used by the  Company or the  Company's  subsidiaries  or
affiliates  in or about  its  business.  The  obligation  in this  Section  11.1
survives the expiration or earlier termination of this Agreement.

            11.2  During the Term of this  Agreement  and for a period of twenty
four (24)  months  after the  expiration  or  earlier  termination  hereof,  the
Executive will not:

            (a) compete  with the Company for  business  with  customers  and/or
            clients that are or have been clients or customers of the Company or
            its  subsidiaries  within the four (4) months preceding the date the
            Executive leaves the Company; or

            (b) influence or attempt to influence any employee of the Company or
            the  Company's  subsidiaries  or  affiliates to terminate his or her
            employment  with  the  Company  or  the  Company's  subsidiaries  or
            affiliates.

The  obligation  in this  subsection  11.2  survives the  expiration  or earlier
termination of this Agreement. In the event that the restrictive period provided
in this  Section  11.2 is  determined  to be too long by any court or other body
having  jurisdiction  over any dispute between the parties over such issue whose
decision is binding on the parties hereto,  this Section 11.2 shall be valid and
enforceable for the period determined to be so enforceable.
<PAGE>

         12. Notices. Any notice, direction or instruction required or permitted
to be given  hereunder  shall be given  in  writing  and may be given by  telex,
telegram,  facsimile  transmission  or similar  method if  confirmed  by mail as
herein  provided;  by mail if sent postage  prepaid by registered  mail,  return
receipt requested;  or by hand delivery to any party at the address of the party
set forth below. If notice, direction or instruction is given by telex, telegram
or facsimile  transmission  or similar method or by hand  delivery,  it shall be
deemed  to have  been  given or made on the day on which  it was  given,  and if
mailed,  shall be deemed to have been  given or made on the third  business  day
following  the day after which it was mailed.  Any party may, from time to time,
by like  notice  give  notice of any change of address  and in such  event,  the
address of such party shall be deemed to be changed accordingly.

(a)      If to the Company:

                                     Platinum Executive Search, Inc.
                                     342 Madison Avenue, Suite 1500
                                     New York, New York 10 173
                                     Attention: John Mazutto

                                     Attention:

                                     With a copy to:

                                     Robert Schneider, Esq.
                                     Graham &James LLP
                                     885 Third Ave, 21st Floor
                                     New York, N. Y. 10022

(b)      If to the Executive:

                                     Frank Fava
                                     333 East 53rd Street
                                     New York, New York 10022

         13. General.

            13.1  Governing  Law.  This  Agreement  shall  be  governed  by  and
construed and enforced in accordance  with the internal laws of the State of New
York,  regardless  of the laws that  might  otherwise  govern  under  applicable
principles of conflicts of laws.
<PAGE>

            13.2  Entire  Agreement.   This  Agreement  sets  forth  the  entire
agreement  and  understanding  of the parties  relating  to the  subject  matter
hereof,  and supersedes all prior agreements,  arrangements and  understandings,
written or oral, between or among the parties,  except as specifically  provided
herein.

            13.3  Successors and Assigns.  This  Agreement,  and the Executive's
rights and obligations hereunder,  may not be assigned by the Executive,  except
that the  Executive  may  designate  one or more  beneficiaries  to receive  any
amounts that would  otherwise be payable  hereunder to the  Executive's  estate.
This  Agreement  shall be binding on any  successor  to the  Company  whether by
merger, consolidation,  acquisition of all or substantially all of the Company's
assets or business or otherwise,  as fully as if such successor were a signatory
hereto; and the Company shall cause such successor to, and such successor shall,
expressly assume the Company's obligations hereunder.

and the  Company  shall  cause  such  successor  to, and such  successor  shall,
expressly assume the Company's obligations hereunder.

            13.4 Amendments; Waivers. This Agreement cannot he changed, modified
or  amended,  and no  provision  or  requirement  hereof may be waived,  without
consent  in  writing  of the  parties  hereto.  However,  in the event  that the
Company-issues   an  Employee   Manual  which  amends  or  modifies  any  policy
specifically  identified  and  incorporated  into this  Agreement,  such  policy
automatically  shall be  deemed  included  (1st part of this  Agreement  without
further  consideration other than the continued  performance of this Agreement's
material terms by the Company.

            13.5  Ability to Fulfill  Obligations.  Neither  the Company nor the
Executive is a party to or bound by any agreement which would be violated by the
terms of this Agreement.

            13.6  Counterparts.  This  Agreement  may be executed in two or more
counterparts,  each of which shall be deemed to be an original.  It shall not be
necessary  when  making  proof of this  Agreement  to account  for more than one
counterpart.

            IN WITNESS WHEREOF. the parties have duly executed this Agreement as
of the date first above written.
<PAGE>

                                               PLATINUM EXECUTIVE SEARCH, INC.

                                               By: /s/ John Mazzuto
                                                  ------------------------------
                                                  Name: John Mazzuto
                                                  Title: President

                                               EXECUTIVE:

                                               /s/ Frank Fava
                                               -------------------------------
                                               FRANK FAVA

<PAGE>

                                    EXHIBIT A

                       Early Termination of Stock Options
                       ----------------------------------

         1. Should  Optionee  cease  service for any reason  other than death or
permanent  disability while the option remains  outstanding,  then Optionee will
have a three  (3)  month  period  measured  from the date of such  cessation  of
Service in which to exercise the option for any or all of the option  shares for
which the option is exercisable at the time of such cessation of Service.  In no
event,  however,  may the option be  exercised  at any time after the  specified
expiration  date of the option term. Upon the expiration of such three (3) month
period or (if earlier)  upon the specified  expiration  date of the option term,
the option will terminate and cease to be outstanding.

         2. Should  Optionee  die while in service or within the three (3) month
period   following  his  or  her   cessation  of  service,   then  the  personal
representative  of Optionee's estate or the person or persons to whom the option
is  transferred  pursuant to Optionee's  will or in accordance  with the laws of
descent and  distribution  will have the right to exercise the option for any or
all of the  option  shares for which the  option is  exercisable  at the time of
Optionee's cessation of service,  less any option shares subsequently  purchased
by Optionee prior to death. Such right will lapse, and the option will terminate
and cease to remain  outstanding,  upon the earlier of (i) the expiration of the
twelve (12) month period measured from the date of Optionee's  death or (ii) the
expiration date.

         3.  Should  (i)   Optionee's   service  be  terminated  for  misconduct
(including, but not limited to, any act of dishonesty, willful misconduct, fraud
or  embezzlement)  or (ii) Optionee make any  unauthorized  use or disclosure of
confidential  information  or trade  secrets  of the  Company  or any  parent or
subsidiary,  then in any such event the option will  terminate  immediately  and
cease to be outstanding.

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