Document:

EXECUTIVE EMPLOYMENT AGREEMENT

         EXECUTIVE EMPLOYMENT AGREEMENT made as of the 1st day of June, 2000, by
and  between  BALTEK  CORPORATION,  a Delaware  corporation  with  offices at 10
Fairway Court, Northvale, New Jersey 07647 (the "Company"), and Ronald Tassello,
residing at 6 Daisy Court, Suffern, New York 10901 (the "Executive").

                              W I T N E S S E T H:
                              --------------------

         WHEREAS,  the  Executive  has been  employed  by the  Company  as Chief
Financial Officer; and

         WHEREAS,  the  Company  desires  to  continue  the  employment  of  the
Executive as Chief Financial Officer and the Executive desires to continue to be
so employed by the  Company,  upon the terms and subject to the  conditions  set
forth in this Agreement;

         NOW,  THEREFORE,  in  consideration  of the  premises  and  the  mutual
covenants  contained in this  Agreement,  the Executive and the Company agree as
follows:

         1.  Employment.  The Company agrees to continue to employ the Executive
as Chief Financial Officer,  and the Executive agrees to continue  employment by
the Company in such  capacity,  upon and subject to the terms and conditions set
forth in this Agreement.

         2. Term. The Executive's  employment  under and in accordance with this
Agreement shall commence on June 1, 2000 and shall continue until  terminated by
either party upon not less than twenty- four (24) months  written  notice to the
other  party  (the   period  from June 1, 2000  until the date this Agreement is
terminated  pursuant to such notice being hereinafter  referred to as the "Term"
of this Agreement).

         3. Duties.

         (a) During the Term of this Agreement,  the Executive shall be employed
as Chief  Financial  Officer of the Company,  shall  utilize his best efforts to
enhance the  business  of the Company  and,  subject to the  supervision  of the
Company's  President and Chief  Executive  Officer (the "CEO") and the Company's
Board of  Directors  (the  "Board"),  shall be  responsible  for the general and
supervisory  duties normally and  customarily  attendant to such position at the
Company and its divisions and subsidiaries.

         (b) During the Term of this Agreement, unless the Board shall otherwise
consent in writing, the Executive will, during the regular business hours of the
Company, devote his full time, energies, labor and skills to the business of the
Company and to the duties and  responsibilities  specified in subsection  (a) of
this paragraph 3.

         4. Compensation. In full consideration for all services to be performed
by the  Executive  for the Company and pursuant to this  Agreement,  the Company
shall pay to the Executive, and the Executive agrees to accept, an annual salary
of one hundred seventy thousand ($170,000) dollars (or such higher amount as may
be approved from time to time by the Board),  payable in monthly installments in
accord ance with the Company's  customary payroll  practices.  The Company shall
annually  review  the Executive's  salary to  determine  whether,  and  to  what
extent,  if any, such salary shall be adjusted.  Any increase in the Executive's
salary shall be in the sole discretion of the Company. In addition,  the Company
shall  reimburse  the  Executive  for all  expenses  reasonably  incurred by the
Executive in connection  with the performance of his duties under this Agreement
and the business of the Company, in accordance with the Company's usual policies
and practices for expense reimbursement.

                                       -1-

<PAGE>

         5. Vacation.  The Executive shall be entitled to four (4) weeks of paid
vacation  during  each  twelve (12) month  period of his  employment  under this
Agreement,  to be taken at times  mutually  agree able to the  Executive and the
Company.  Any  vacation  not taken  during the twelve (12) month period in which
such  vacation  is earned  may not be taken in any  subsequent  period,  but the
Executive  shall be  entitled  to be paid for up to two (2) weeks of any  earned
vacation  which is not taken during any twelve (12) month  period.  In the event
the Executive's  employment is terminated for any reason, the Executive shall be
paid for accrued vacation time, if any, which has not been taken,  calculated on
a pro-rata  basis,  but in no event shall such amount  exceed more than four (4)
weeks' salary.

         6. Benefits. Throughout the Term of this Agreement, the Executive shall
be eligible to  participate  in any  pension,  profit-sharing,  stock  option or
similar plan or program of the Company now existing or hereafter established and
maintained for the benefit of the Company's  employees or executives  generally,
to the extent  that the  Executive  is  eligible  under the  general  provisions
thereof.  The  Executive  shall also be  entitled  to  participate  in any group
insurance,  hospitalization,  medical,  health,  accident, disability or similar
plan or program of the Company now  existing or  hereafter  established  for the
benefit of the Company's employees or executives  generally,  to the extent that
the Executive is eligible under the general provisions thereof. In the event the
employment of the Executive with the Company is terminated for any reason,  such
benefits shall be continued,  at the expense of the Company,  to such extent and
for such period of time as may be required under the Consolidated Omnibus Budget
Reconciliation Act of 1985 and the regulations  issued thereunder,  as in effect
at the time of such termination of employment.

         7.  Company  Car.  To permit the  Executive  to perform his duties more
effectively,  the Company shall,  during the term of the Executive's  employment
pursuant to this Agreement  [and if the employment of the Executive  pursuant to
this  Agreement  is  terminated  under  any of the  circumstances  described  in
subparagraph  (f) of paragraph 8 of this Agreement,  for a period of twelve (12)
months after such termination of such employment],  lease a suitable  automobile
for the use of the  Executive,  and reimburse the Executive for all expenses of
operating  and  maintaining  such  automobile,  including,  without  limitation,
comprehensive and liability insurance, in accordance with the Company's policies
and practices for executive company cars.

         8. Termination of Executive's Employment.

         (a)  Notwithstanding  any provisions to the contrary  contained in this
Agreement, the Executive's employment may be terminated  by the Company upon the
Executive's  death or  disability  (as  defined  below) or for Cause (as defined
below),  and the  Executive may  terminate  his  employment  for Good Reason (as
defined below) upon sixty (60) days' prior written notice to the Company.

         (b) For purposes of this Agreement, "disability" shall mean that, for a
period of one hundred twenty (120)  consecutive days or more, or for one hundred
eighty (180) days or more (even though not consecutive) within any three hundred
sixty (360) day period,  the  Executive  is  mentally  or  physically  unable to
perform the essential  duties of his position as Chief Financial  Officer of the
Company (notwithstanding  reasonable accommodation by the Company as required by
law), as evidenced by the written  certification of a qualified physician agreed
to by the Company and the Executive or, in the absence of such  agreement,  by a
qualified  physician selected by the agreement of a qualified physician selected
by the Company and a qualified physician selected by the Executive.

                                       -2-

<PAGE>

         (c) For  purposes  of  this  Agreement,  "Cause"  shall  mean:  (i) the
conviction  of the  Executive  for a  felony  by a  federal  or  state  court of
competent  jurisdiction;  or (ii) the Executive's failure either (A) to follow a
direct substantive written order, within the reasonable scope of the Executive's
duties,  from the CEO, pursuant to authority from the Board, or (B) to adhere to
any written policy or guideline established by the Company from time to time, if
such  failure to follow such order or adhere to such policy or guideline is not
cured within thirty (30) days after written  notice to the Executive  specifying
such failure.

         (d) For purposes of this Agreement, "Good Reason" shall mean any of the
following:  (i) the  assignment by the Company to the  Executive of  substantial
duties  significantly  below  the  level of the  Executive's  position  as Chief
Financial  Officer of the Company,  as set forth in  paragraph  3 of this Agree-
ment; or (ii) the failure of the Company to assign to the Executive  substantial
duties  and  responsibilities  consistent  with  such  position;  or  (iii)  any
reduction by the Company of the  Executive's  salary or benefits as set forth in
paragraphs 4 or 6 of this  Agreement  (it being  understood  that a reduction of
benefits applicable to all executives of the Company  (including the Executive)
shall not be deemed a reduction of the Executive's benefits for purposes of this
definition.

         (e) In the event that the Executive's  employment  under this Agreement
is terminated as a result of death,  disability or for Cause by the Company,  or
without  Good Reason by the  Executive,  then the Company  shall have no further
obligation or liability to the  Executive  under this  Agreement,  such that all
salary  and  benefits   provided   for  in  this   Agreement   shall   terminate
simultaneously  with the termination of the Executive's  employment,  except for
salary and benefits earned and accrued through the date of such termination.

         (f) In the event that the  Company  terminates  the  employment  of the
Executive  pursuant  to this  Agreement  prior  to the  end of the  Term of this
Agreement,  other  than  for  Cause,  death  or  disability,  or  the  Executive
terminates his employment  with the Company with Good Reason prior to the end of
the Term of this Agreement (i) the Company shall pay to the  Executive,  in each
month following such  termination,  until the end of the Term of this Agreement,
an amount equal to one-twelfth of the Executive's annual salary in effect on the
date of termination,  and (ii) if such termination  shall occur ninety (90) days
or less prior to the end of a fiscal year of the Company,  the Company shall, in
accordance  with any executive  compensation or incentive plan of the Company in
effect at the time of such termination,  pay to the Executive any bonus and make
on behalf of the  Executive  any  profit  sharing  plan  contribution  which the
Company would  otherwise  have paid or made if the Executive had remained in the
employ of the Company through the end of such fiscal year.

         9. Covenants of the Executive.

         (a) The Executive  acknowledges  that his employment by the Company has
brought him and will throughout his employment  continue to bring him into close
contact with many  confidential  affairs of the Company,  including  information
about  costs,  profits,   markets,  sales,  key  personnel,   pricing  policies,
operational  methods  and  other  business  affairs,  methods  and  information,
including  plans for future developments,  not readily  available or generally
known to the public. The Executive further  acknowledges that the services to be
performed by him under this Agreement are of a special,  unique,  unusual, extra
ordinary and intellectual character,  and that the Company currently competes or
intends  to  compete  with other  organizations  that are  located in all of the
states of the United States.  In  recognition  of the foregoing,  the Executive
covenants and agrees that:

                                       -3-

<PAGE>

                  (i) he will not  during  his  employment  with the  Company or
         following the  expiration of this  Agreement or the  termination of his
         employment with the Company for any reason (the date of such expiration
         or termination being hereinafter referred to as the "Termination Date")
         divulge,  disclose,  publish or use (other  than for the benefit of the
         Company)  any matter  relating  to the  Company  which is not  publicly
         available and generally known and will not intentionally  disclose such
         matter to anyone  (other than to executives or employees of the Company
         who are  required to have  knowledge of such  matter),  except that the
         Executive may make such disclosure as may be required by law,  provided
         the  Company is notified by the  Executive  in writing of such require-
         ment  not  less  than ten (10)  business  days  prior to the date  such
         disclosure  is so required and the Company has not obtained an order or
         ruling to prevent such disclosure;

                  (ii) he will deliver promptly to the Company at the end of the
         Term of  this  Agreement,  or at any  other  time  the  Company  may so
         request,  all memoranda,  notes,  records,  reports and other documents
         (and all copies thereof)  relating to the business of the Company which
         he obtained while employed by or otherwise  serving or acting on behalf
         of,  the  Company,  and  which he may then  possess  or have  under his
         control;

                  (iii)  during the Term of this  Agreement  and any  additional
         period  during  which the  Executive  may be  employed  by the  Company
         (whether  or  not  such  employment  shall  be  pursuant  to a  written
         agreement),  he will not, unless the Board shall  otherwise  consent in
         writing,  alone or together with any other person,  firm,  partnership,
         corporation  or  other  entity  whatsoever   (except  a  subsidiary  or
         affiliate  of the  Company),  directly  or  indirectly,  whether  as an
         officer,  director,   stockholder,   partner,  proprietor,   associate,
         employee,    representative,    public    relations   or    advertising
         representative,  management consultant or otherwise, engage in, or have
         any material  financial or monetary  interest in, or have any financial
         or monetary  association  with, any other person,  corporation,  firm,
         partnership  or other  entity  engaged in, the  composite  materials or
         seafood  business or any other business  which is competitive  with any
         business conducted or contemplated by the Company; and

                  (iv) for a period of  twenty-four  (24) months  following  the
         Termination Date, he will not:

                           (A)  solicit,  or attempt to  solicit,  any person or
                  entity who or which is a customer of  the  Company  (as of the
                  Termination  Date or at any time prior  thereto) as a customer
                  for any person or entity engaged in the composite materials or
                  seafood  business,  or any other business which is competitive
                  with any business conducted or contemplated by the Company; or

                           (B) otherwise  disrupt or interfere  with, or attempt
                  to disrupt or interfere with, the Company's relations with any
                  actual  or  potential   customer  or  supplier  or  any  other
                  relationship of the Company.

         (b) The Executive  recognizes that the territorial and time limitations
in this  paragraph 9 are  reasonable  and  properly  required  for the  adequate
protection  of the business of the Company,  and that in the event that any such
territorial  or time  limitation  is  deemed  to be  unreasonable  by a court of
competent  jurisdiction,  the  Executive  agrees  to a  reduction  of said  such
territorial  or time  limitation,  as the case may be, to such area or period as
such  court  deems  reasonable.  In the  event  that the  Executive  shall be in
violation  of any of the  covenants  contained  in this  paragraph  9,  the time
limitation thereof shall be extended for a period of time equal to the period of
time during which such breach or breaches should exist.

                                       -4-

<PAGE>

         (c) The Executive  further agrees that the remedy at law for any breach
or threatened breach of any of the covenants  contained in this paragraph 9 will
be inadequate and that the Company, in addition to such other remedies as may be
available  to it, at law or in equity,  shall be entitled to  injunctive  relief
without bond or other  security.  This paragraph 9 constitutes  independent and
severable  covenants and, if any or all of the provisions of this paragraph 9 is
or are held to be invalid or  unenforceable  for any reason,  such invalidity or
unenforceability shall not in any way invalidate or affect the remainder of this
paragraph 9 or the remainder of this Agreement,  as the case may be, which shall
remain in full force and effect.

         10. Governing Law. This Agreement shall be construed in accordance with
and  governed  by the laws of the State of New Jersey  applicable  to  contracts
executed in and to be performed solely within such state.

         11.  Notices.  All notices  required or permitted to be given by either
party pursuant to this Agreement,  including notice of change of address,  shall
be in writing and delivered by hand, or mailed,  postage  prepaid,  certified or
registered mail, return receipt requested, to the other party as follows:

              If to the Company:       Baltek Corporation
                                       10 Fairway Court
                                       Northvale, New Jersey 07047

                                       Attention:
                                       President and Chief Executive Officer

              If to the Executive:     Ronald Tassello
                                       6 Daisy Court
                                       Suffern, New York  10901

         12.      Miscellaneous.

         (a) Entire Agreement.  This Agreement  constitutes the entire agreement
between the parties with respect to the subject matter hereof and supersedes any
and all prior oral or written  agreements  and  understandings  relating  to the
employment  of the  Executive  by the  Company.  There  are  no  oral  promises,
representations,  understandings,  interpretations  or  terms  of  any  kind  as
conditions or inducements to the execution this Agreement by the Executive or in
effect between the parties.  This Agreement may not be amended, and no provision
hereof  shall be  waived,  except by a writing  signed  by the  Company  and the
Executive (or in the case of a waiver of a provision of this  Agreement,  by the
party waiving compliance  therewith),  which states that it is intended,  as the
case may be, to amend this  Agreement  or waive a provision of this  Agreement.
Any waiver of any right or failure to act in a specific  instance  shall  relate
only to such  instance  and shall not be  construed as an agreement to waive any
right or failure to act in any other instance, whether or not similar.

         (b)  Severability.  Should any provision of this Agreement be held by a
court of competent  jurisdiction to be unenforceable or prohibited by applicable
law, this Agreement shall be considered  divisible as to such provision,  which
shall be  inoperative,  and the remainder of this  Agreement  shall be valid and
binding as if such provision were not included in this Agreement.

                                       -5-

<PAGE>

         (c) Successors and Assigns.  This Agreement  shall inure to the benefit
of, and be binding upon, the Company and any corporation  with which the Company
merges or consolidates or to which the Company sells all or substantially all of
its assets, and upon the Executive and his executors, administrators, heirs and
legal representatives.

         (d) Headings.  All headings in this Agreement are for convenience  only
and are not intended to affect the meaning of any provision hereof.

         (e)  Counterparts.  This  Agreement  may be executed in two (2) or more
counterparts  with the same effect as if the signatures to all such counterparts
were upon the same instrument,  and all such  counterparts  shall constitute but
one instrument.

         IN WITNESS  WHEREOF,  the Executive has executed this Agreement and the
Company has caused this Agreement to be executed by its duly authorized  officer
as of the day and year first above written.

                                 BALTEK CORPORATION

                                 By:     /s/ Jacques Kohn
                                     -------------------------------------------
                                       Jacques Kohn
                                       President and Chief Executive Officer

                                             /s/ Ronald Tassello
                                     -------------------------------------------
                                               Ronald Tassello

                                       -6-EXECUTIVE EMPLOYMENT AGREEMENT

         EXECUTIVE EMPLOYMENT AGREEMENT made as of the 1st day of June, 2000, by
and  between  BALTEK  CORPORATION,  a Delaware  corporation  with  offices at 10
Fairway Court, Northvale, New Jersey 07647 (the "Company"),  and Thomas Preisel,
residing at 16 Lexington Road, New City, New York 10956 (the "Executive").

                              W I T N E S S E T H:
                              --------------------

         WHEREAS,  the  Executive  has  been  employed  by the  Company  as Vice
President, Operations & Sales/Marketing; and

         WHEREAS,  the  Company  desires  to  continue  the  employment  of  the
Executive as Vice  President,  Operations &  Sales/Marketing  and the  Executive
desires to continue to be so employed by the Company, upon the terms and subject
to the conditions set forth in this Agreement;

         NOW,  THEREFORE,  in  consideration  of the  premises  and  the  mutual
covenants con tained in this  Agreement,  the Executive and the Company agree as
follows:

         1.  Employment.  The Company agrees to continue to employ the Executive
as Vice President,  Operations &  Sales/Marketing,  and the Executive  agrees to
continue  employment  by the Company in such  capacity,  upon and subject to the
terms and conditions set forth in this Agreement.

         2.  Term. The Executive's employment  under and in accordance with this
Agreement  shall commence on June 1, 2000 and shall continue until terminated by
either party upon not less than  twenty-four  (24) months  written notice to the
other  party  (the  period  from June 1, 2000 until the date this  Agreement  is
terminated  pursuant to such notice being hereinafter  referred to as the "Term"
of this Agreement).

         3. Duties.

         (a) During the Term of this Agreement,  the Executive shall be employed
as Vice President,  Operations & Sales/Marketing  of the Company,  shall utilize
his best  efforts to enhance the  business of the  Company  and,  subject to the
supervision of the Company's  President and Chief Executive Officer (the "CEO")
and the Company's Board of Directors (the "Board"), shall be responsible for the
general and  supervisory  duties  normally  and  customarily  attendant  to such
position at the Company and its divisions and subsidiaries.

         (b) During the Term of this Agreement, unless the Board shall otherwise
consent in writing, the Executive will, during the regular business hours of the
Company, devote his full time, energies, labor and skills to the business of the
Company and to the duties and  responsibilities  specified in subsection  (a) of
this paragraph 3.

         4. Compensation. In full consideration for all services to be performed
by the  Executive  for the Company and pursuant to this  Agreement,  the Company
shall pay to the Executive, and the Executive agrees to accept, an annual salary
of two hundred fifteen thousand ($215,000) dollars (or such higher amount as may
be approved from time to time by the Board), payable in monthly installments in
accordance with the Company's  customary  payroll  practices.  The Company shall
annually review the Executive's salary to determine whether, and to what extent,
if any, such salary shall be adjusted.

                                       -1-

<PAGE>

Any increase in the  Executive's  salary shall be in the sole  discretion of the
Company. In addition, the Company shall reimburse the Executive for all expenses
reasonably  incurred by the Executive in connection  with the performance of his
duties under this Agreement and the business of the Company,  in accordance with
the Company's usual policies and practices for expense reimbursement.

         5. Vacation.  The Executive shall be entitled to four (4) weeks of paid
vacation  during  each  twelve (12) month  period of his  employment  under this
Agreement,  to be taken at times  mutually  agreeable to the  Executive  and the
Company.  Any  vacation  not taken  during the twelve (12) month period in which
such  vacation  is earned  may not be taken in any  subsequent  period,  but the
Executive  shall be  entitled  to be paid for up to two (2) weeks of any  earned
vacation  which is not taken during any twelve (12) month  period.  In the event
the Executive's  employment is terminated for any reason, the Executive shall be
paid for accrued vacation time, if any, which has not been taken, calculated on
a pro-rata  basis,  but in no event shall such amount  exceed more than four (4)
weeks' salary.

         6. Benefits. Throughout the Term of this Agreement, the Executive shall
be eligible to  participate  in any  pension,  profit-  haring,  stock option or
similar plan or program of the Company now existing or hereafter established and
maintained for the benefit of the Company's employees or executives  generally,
to the extent  that the  Executive  is  eligible  under the  general  provisions
thereof.  The  Executive  shall also be  entitled  to  participate  in any group
insurance,  hospitalization,  medical, health,  accident,  disability or similar
plan or program of the Company now  existing or  hereafter  established  for the
benefit of the Company's employees or executives  generally,  to the extent that
the Executive is eligible under the general provisions thereof. In the event the
employment of the Executive with the Company is terminated for any reason,  such
benefits shall be continued,  at the expense of the Company,  to such extent and
for such period of time as may be required under the Consolidated Omnibus Budget
Reconciliation Act of 1985 and the regulations  issued thereunder,  as in effect
at the time of such termination of employment.

         7.  Company  Car.  To permit the  Executive  to perform his duties more
effectively,  the Company shall,  during the term of the Executive's  employment
pursuant to this Agreement  [and if the employment of the Executive  pursuant to
this  Agreement  is  terminated  under any of the circumstances  described  in
subparagraph  (f) of paragraph 8 of this Agreement,  for a period of twelve (12)
months after such termination of such employment],  lease a suitable  automobile
for the use of the  Executive,  and  reimburse the Executive for all expenses of
operating  and  maintaining  such  automobile,  including,  without  limitation,
comprehensive and liability insurance, in accordance with the Company's policies
and practices for executive company cars.

         8. Termination of Executive's Employment.

         (a)  Notwithstanding  any provisions to the contrary  contained in this
Agreement,  the Executive's employment may be terminated by the Company upon the
Executive's  death or  disability  (as  defined  below) or for Cause (as defined
below),  and the  Executive may  terminate  his  employment  for Good Reason (as
defined below) upon sixty (60) days' prior written notice to the Company.

         (b) For purposes of this Agreement, "disability" shall mean that, for a
period of one hundred twenty (120)  consecutive days or more, or for one hundred
eighty (180) days or more (even though not consecutive) within any three hundred
sixty (360) day period, the Executive is mentally orphysically unable to perform
the  essential  duties of his  position as Vice  President,  Operations & Sales/
Marketing  of  the  Company  (notwithstanding  reasonable  accommodation  by the
Company as required by law),  as  evidenced  by the written  certification  of a
qualified  physician  agreed  to by the  Company  and the  Executive  or, in the
absence of such agreement, by a qualified physician selected by the agreement of
a qualified physician selected by the Company and a qualified physician selected
by the Executive.

                                       -2-

<PAGE>

         (c) For  purposes  of  this  Agreement,  "Cause"  shall  mean:  (i) the
conviction  of the  Executive  for a  felony  by a  federal  or  state  court of
competent  jurisdiction;  or (ii) the Executive's failure either (A) to follow a
direct substantive written order, within the reasonable scope of the Executive's
duties,  from the CEO, pursuant to authority from the Board, or (B) to adhere to
any written policy or guideline established by the Company from time to time, if
such  failure to follow such order or adhere to such policy or  guideline is not
cured within thirty (30) days after written  notice to the Executive  specifying
such failure.

         (d) For purposes of this Agreement, "Good Reason" shall mean any of the
following:  (i) the  assignment by the Company to the  Executive of  substantial
duties  significantly  below  the  level  of the  Executive's  position  as Vice
President,  Operations  &  Sales/Marketing  of  the  Company,  as set  forth  in
paragraph 3 of this  Agreement;  or (ii) the failure of the Company to assign to
the  Executive  substantial  duties and  responsibilities  consistent  with such
position;  or (iii) any  reduction by the Company of the  Executive's  salary or
benefits  as  set  forth  in  paragraphs  4 or 6 of  this  Agreement  (it  being
understood  that a reduction of benefits  applicable  to all  executives  of the
Company  (including  the  Executive)  shall  not be  deemed a  reduction  of the
Executive's benefits for purposes of this definition.

         (e) In the event that the Executive's  employment  under this Agreement
is terminated as a result of death,  disability or for Cause by the Company,  or
without  Good Reason by the  Executive,  then the Company  shall have no further
obligation or liability to the  Executive  under this  Agreement,  such that all
salary  and  benefits   provided   for  in  this   Agreement   shall   terminate
simultaneously  with the termination of the Executive's  employment,  except for
salary and benefits earned and accrued through the date of such termination.

         (f) In the event that the  Company  terminates  the  employment  of the
Executive  pursuant  to this  Agreement  prior  to the  end of the  Term of this
Agreement,  other  than  for  Cause,  death  or  disability,  or  the  Executive
terminates his employment  with the Company with Good Reason prior to the end of
the Term of this Agreement (i) the Company shall pay to the  Executive,  in each
month following such  termination,  until the end of the Term of this Agreement,
an amount equal to one-twelfth of the Executive's annual salary in effect on the
date of termination,  and (ii) if such termination  shall occur ninety (90) days
or less prior to the end of a fiscal year of the Company,  the Company shall, in
accordance  with any executive  compensation or incentive plan of the Company in
effect at the time of such termination,  pay to the Executive any bonus and make
on behalf of the  Executive  any  profit  sharing  plan  contribution  which the
Company would  otherwise  have paid or made if the Executive had remained in the
employ of the Company through the end of such fiscal year.

         9. Covenants of the Executive.

         (a) The Executive  acknowledges  that his employment by the Company has
brought him and will throughout his employment  continue to bring him into close
contact with many  confidential  affairs of the Company,  including  information
about  costs,  profits,   markets,  sales,  key  personnel,   pricing  policies,
operational  methods  and  other  business  affairs,  methods  and  information,
including  plans for future  developments,  not readily  available  or generally
known to the public.

                                       -3-

<PAGE>

The  Executive  further  acknowledges  that the  services to be performed by him
under  this  Agreement  are of a special,  unique,  unusual,  extraordinary  and
intellectual  character,  and that the Company currently  competes or intends to
compete  with other  organizations  that are located in all of the states of the
United States.  In recognition  of the  foregoing,  the Executive  covenants and
agrees that:

                           (i) he  will  not  during  his  employment  with  the
                  Company or following the  expiration of this  Agreement or the
                  termination of his employment  with the Company for any reason
                  (the date of such expiration or termination  being hereinafter
                  referred  to as the  "Termination  Date")  divulge,  disclose,
                  publish or use (other than for the benefit of the Company) any
                  matter relating to the Company which is not publicly available
                  and generally known and will not  intentionally  disclose such
                  matter to anyone (other than to executives or employees of the
                  Company who are required to have  knowledge  of such  matter),
                  except that the Executive  may make such  disclosure as may be
                  required  by law,  provided  the  Company is  notified  by the
                  Executive  in  writing of such  requirement  not less than ten
                  (10)  business  days prior to the date such  disclosure  is so
                  required  and the Company has not  obtained an order or ruling
                  to prevent such disclosure;

                           (ii) he will  deliver  promptly to the Company at the
                  end of the Term of this  Agreement,  or at any other  time the
                  Company may so request, all memoranda, notes, records, reports
                  and other documents (and all copies  thereof)  relating to the
                  business of the Company which he obtained while employed by or
                  otherwise  serving or acting on behalf of,  the  Company,  and
                  which he may then possess or have under his control;

                           (iii)  during  the  Term  of this  Agreement  and any
                  additional  period  during which the Executive may be employed
                  by the  Company  (whether  or not  such  employment  shall  be
                  pursuant  to a written  agreement),  he will not,  unless  the
                  Board shall  otherwise  consent in writing,  alone or together
                  with any other person, firm, partnership, corporation or other
                  entity  whatsoever  (except a  subsidiary  or affiliate of the
                  Company),  directly  or  indirectly,  whether  as an  officer,
                  director,   stockholder,   partner,   proprietor,   associate,
                  employee,  representative,  public  relations or advertising
                  representative, management consultant or otherwise, engage in,
                  or have any  material  financial  or monetary  interest in, or
                  have any  financial or monetary  association  with,  any other
                  person, corporation, firm, partnership or other entity engaged
                  in, the composite  materials or seafood  business or any other
                  business which is competitive  with any business  conducted or
                  contemplated by the Company; and

                           (iv)  for  a  period  of   twenty-four   (24)  months
                   following the Termination Date, he will not:

                                    (A)  solicit,  or  attempt to  solicit,  any
                           person or entity  who or which is a  customer  of the
                           Company  (as of the  Termination  Date or at any time
                           prior thereto) as a customer for any person or entity
                           engaged  in  the  composite  materials  or  seafood
                           business,  or any other business which is competitive
                           with any business conducted or  contemplated  by the
                           Company; or

                                       -4-

<PAGE>

                                    (B) otherwise  disrupt or interfere with, or
                           attempt to disrupt or interfere  with,  the Company's
                           relations  with any actual or  potential  customer or
                           supplier or any other relationship of the Company.

         (b) The Executive  recognizes that the territorial and time limitations
in this  paragraph 9 are  reasonable  and  properly  required  for the  adequate
protection  of the business of the Company,  and that in the event that any such
territorial  or time  limitation  is  deemed  to be  unreasonable  by a court of
competent  jurisdiction,  the  Executive  agrees  to a  reduction  of said  such
territorial  or time  limitation,  as the case may be, to such area or period as
such  court  deems  reasonable.  In the  event  that the  Executive  shall be in
violation  of any of the  covenants  contained  in this  paragraph  9,  the time
limitation thereof shall be extended for a period of time equal to the period of
time during which such breach or breaches should exist.

         (c) The Executive  further agrees that the remedy at law for any breach
or threatened breach of any of the covenants  contained in this paragraph 9 will
be inadequate and that the Company, in addition to such other remedies as may be
available  to it, at law or in equity,  shall be entitled to  injunctive  relief
without bond or other  security.  This paragraph 9 constitutes  independent  and
severable  covenants and, if any or all of the provisions of this paragraph 9 is
or are held to be invalid or  unenforceable  for any reason,  such invalidity or
unenforceability shall not in any way invalidate or affect the remainder of this
paragraph 9 or the remainder of this Agreement,  as the case may be, which shall
remain in full force and effect.

         10. Governing Law. This Agreement shall be construed in accordance with
and  governed  by the laws of the State of New Jersey  applicable  to  contracts
executed in and to be performed solely within such state.

         11.  Notices.  All notices  required or permitted to be given by either
party pursuant to this Agreement,  including notice of change of address,  shall
be in writing and delivered by hand, or mailed,  postage  prepaid,  certified or
registered mail, return receipt requested, to the other party as follows:

              If to the Company:        Baltek Corporation
                                        10 Fairway Court
                                        Northvale, New Jersey 07047

                                        Attention:
                                        President and Chief Executive Officer

              If to the Executive:      Thomas Preisel
                                        16 Lexington Road
                                        New City, New York 10956

         12. Miscellaneous.

         (a) Entire Agreement.  This Agreement  constitutes the entire agreement
between the parties with respect to the subject matter hereof and supersedes any
and all prior oral or written  agree  ments and  understandings  relating to the
employment  of the  Executive  by the  Company.  There  are  no  oral  promises,
representations,  understandings,  interpretations  or  terms  of  any  kind  as
conditions or inducements to the execution this Agreement by the Executive or in
effect between the parties.

                                       -5-

<PAGE>

This  Agreement  may not be amended,  and no  provision  hereof shall be waived,
except by a writing signed by the Company and the Executive (or in the case of a
waiver  of a  provision  of this  Agreement,  by the  party  waiving  compliance
therewith),  which states that it is intended, as the case may be, to amend this
Agreement  or waive a provision  of this  Agreement.  Any waiver of any right or
failure to act in a specific  instance  shall  relate only to such  instance and
shall not be  construed  as an agreement to waive any right or failure to act in
any other instance, whether or not similar.

         (b)  Severability.  Should any provision of this Agreement be held by a
court of competent  jurisdiction to be unenforceable or prohibited by applicable
law, this Agreement shall be considered  divisible as to such  provision,  which
shall be  inoperative,  and the remainder of this  Agreement  shall be valid and
binding as if such provision were not included in this Agreement.

         (c) Successors and Assigns.  This Agreement  shall inure to the benefit
of, and be binding upon, the Company and any corporation  with which the Company
merges or consolidates or to which the Company sells all or substantially all of
its assets, and upon the Executive and his executors,  administrators, heirs and
legal representatives.

         (d) Headings.  All headings in this Agreement are for convenience  only
and are not intended to affect the meaning of any provision hereof.

         (e)  Counterparts.  This  Agreement  may be executed in two (2) or more
counterparts  with the same effect as if the signatures to all such counterparts
were upon the same instrument,  and all such  counterparts  shall constitute but
one instrument.

         IN WITNESS  WHEREOF,  the Executive has executed this Agreement and the
Company has caused this Agreement to be executed by its duly authorized  officer
as of the day and year first above written.

                              BALTEK CORPORATION

                              By:       /s/ Jacques Kohn
                                  ---------------------------------------------
                                       Jacques Kohn
                                       President and Chief Executive Officer

                                               /s/ Thomas Preisel
                                  ---------------------------------------------
                                                Thomas Preisel

                                       -6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00017-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00017-of-00352.parquet"}]]