Document:

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                                                                    EXHIBIT 10.8

                              EMPLOYMENT AGREEMENT

         THIS EXECUTIVE EMPLOYMENT AGREEMENT (this "Agreement") dated as of
September 5, 2003, but effective as of July 15, 2003, is by and between Isolagen
Technologies, Inc., a Delaware corporation (together with its subsidiaries, the
"Company" or "Isolagen"), and Jeffrey W. Tomz (the "Employee" or "Tomz").

                              W I T N E S S E T H:

         WHEREAS, the Employee desires to serve the Company as its Chief
Financial Officer and Secretary; and WHEREAS, the Company desires to employ Tomz
as Chief Financial Officer and Secretary of Isolagen;

         NOW THEREFORE in consideration of the mutual benefits to be derived
from this Agreement, the Company and the Employee hereby agree as follows:

1.       Term of Employment; Office and Duties.

                  (a)      Commencing on the date of execution of this Agreement
(the "Employment Date"), and for an initial term ending July 15, 2005, the
Company shall employ the Employee as a senior executive of the Company with the
title of Chief Financial Officer and Secretary, with the duties and
responsibilities prescribed for such offices in the Bylaws of the Company and
such additional duties and responsibilities consistent with such positions as
may from time to time be assigned to the Employee by the Board of Directors.
Employee agrees to perform such duties and discharge such responsibilities in
accordance with the terms of this Agreement. This Agreement shall be renewed for
an additional one (1) year term, by the mutual written agreement of the Employee
and the Company at least thirty (30) days prior to its expiration.

                  (b)      The Employee shall devote all of his working time to
the business and affairs of the Company other than during vacations of four
weeks per year and periods of illness or incapacity; provided, however, that
nothing in this Agreement shall preclude the Employee from devoting time
required: (i) for serving as a director or officer of any organization or entity
not in a competing business with the Company, and any other businesses in which
the Company becomes involved; (ii) delivering lectures or fulfilling speaking
engagements; or (iii) engaging in charitable and community activities; provided,
however, that such activities do not interfere with the performance of his
duties hereunder.

2.       Compensation and Benefits.

         For all services rendered by the Employee in any capacity during the
period of Employee's employment by the Company, including without limitation,
services as an executive officer or member of any committee of the Board of
Directors or any subsidiary, affiliate or division thereof, from and after the
Effective Date the Employee shall be compensated as follows:

                  (a)      Base Salary. The Company shall pay the Employee a
fixed salary ("Base Salary") at a rate of Two Hundred Thousand Dollars
($200,000) per year. The Board of

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Directors may periodically review the Employee's Base Salary with a view to
increasing such Base Salary if, in the judgment of the Board of Directors, the
earnings of the Company or the services of the Employee merit such an increase.
Base Salary will be payable in accordance with the customary payroll practices
of the Company.

                  (b)      Bonus. Employee will be entitled to receive an annual
bonus ("the "Annual Bonus"), payable each year subsequent to the issuance of
final audited financial statements, but in no case later than 150 days after the
end of the Company's most recently completed fiscal year. The final
determination on the amount of the Annual Bonus will be made by the Compensation
Committee of the Board of Directors. The targeted amount of the Annual Bonus
shall be a percentage of the Employee's base salary. The targeted percentage is
30%.

                  (c)      Fringe Benefits.

                           (i)      The Employee shall be entitled to
participate in such disability, health and life insurance and other fringe
benefit plans or programs, including a Section 401(k) retirement plan, of the
Company established from time to time by the Board of Directors, if any, to the
extent that his position, tenure, salary, age, health and other qualifications
make him eligible to participate, subject to the rules and regulations
applicable thereto. Such additional benefits shall include, but not be limited
to, paid sick leave and individual health insurance, the latter in accordance
with the policies of the Company. Where possible, all waiting and eligibility
periods will be waived.

                           (ii)     skipped

                           (iii)    The vesting of any options held by the
Employee shall accelerate: a) upon a change in control of the Company as defined
in Rule 405 of the Securities Act of 1933; b) upon sale of substantially all of
the assets of the Company or the merger out of existence of the Company; c) if
the Employee's employment with the Company is terminated with or without cause;
d) if the Employee's employment with the Company is terminated by Death or
Disability; e) or if the Employee's employment with the Company is terminated by
the Employee for "Good Reason".

                  (d)      Withholding and Employment Tax. Payment of all
compensation hereunder shall be subject to customary withholding tax and other
employment taxes as may be required with respect to compensation paid by an
employer/corporation to an employee.

                  (e)      Disability. skipped

                  (f)      Death. skipped

                  (g)      Vacation. Employee shall receive four (4) weeks of
vacation annually, administered in accordance with the Company's existing
vacation policy.

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3.       Business Expenses.

         The Company shall pay or reimburse all reasonable travel and
entertainment expenses incurred by the Employee in connection with the
performance of his duties under this Agreement, including reimbursement for
attending out-of-town meetings of the Board of Directors in accordance with such
procedures as the Company may from time to time establish for senior officers
and as required to preserve any deductions for federal income taxation purposes
to which the Company may be entitled and subject to the Company's normal
requirements with respect to reporting and documentation of such expenses.

4.       Termination of Employment.

         Notwithstanding any other provision of this Agreement, Employee's
employment with the Company may be terminated upon written notice to the other
party as follows:

                  (a)      By the Company, in the event of the Employee's death
or Disability (as hereinafter defined) or for Cause (as hereinafter defined).
For purposes of this Agreement, "Cause" shall mean either: (i) the indictment
of, or the bringing of formal charges against, Employee by a governmental
authority of competent jurisdiction for charges involving criminal fraud or
embezzlement; (ii) the conviction of Employee of a crime involving an act or
acts of dishonesty, fraud or moral turpitude by the Employee, which act or acts
constitute a felony;; (iii) Employee having willfully caused the Company,
without the approval of the Board of Directors, to fail to abide by either a
valid contract to which the Company is a party or the Company's Bylaws; (iv)
Employee having committed acts or omissions constituting gross negligence or
willful misconduct with respect to the Company; (v) Employee having committed
acts or omissions constituting a material breach of Employee's duty of loyalty
or fiduciary duty to the Company or any material act of dishonesty or fraud with
respect to the Company which are not cured in a reasonable time, which time
shall be 30 days from receipt of written notice from the Company of such
material breach; or (vi) Employee having committed acts or omissions
constituting a material breach of this Agreement which are not cured in a
reasonable time, which time shall be 30 days from receipt of written notice from
the Company of such material breach. A determination that Cause exists as
defined in clauses (iv), (v), or (vi) (as to this Agreement) of the preceding
sentence shall be made by at least a majority of the members of the Board of
Directors. For purposes of this Agreement, "Disability" shall mean the inability
of Employee, in the reasonable judgment of a physician appointed by the Board of
Directors, to perform his duties of employment for the Company or any of its
subsidiaries because of any physical or mental disability or incapacity, where
such disability shall exist for an aggregate period of more than 120 days in any
365-day period or for any period of 90 consecutive days. The Company shall by
written notice to the Employee specify the event relied upon for termination
pursuant to this Section 4(a), and Employee's employment hereunder shall be
deemed terminated as of the date of such notice. In the event of any termination
under this Subsection 4(a), the Company shall pay all amounts then due to the
Employee under Section 2(a) of this Agreement for any portion of the payroll
period worked but for which payment had not yet been made up to the date of
termination, and, if such termination was for Death, Disability or Cause, the
Company shall have no further obligations to Employee under this Agreement,
except, any and all unvested options granted hereunder shall immediately vest.

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                  (b)      By the Company, in the absence of Cause, for any
reason and in its sole and absolute discretion, provided that in such event the
Company shall, as liquidated damages or severance pay, or both, continue to pay
to Employee the Base Salary (at a monthly rate equal to the rate in effect
immediately prior to such termination) for six months from the date of
termination (the "Termination Payments"). Finally, any and all unvested options
granted hereunder shall immediately vest.

                  (c)      By the Employee for "Good Reason," (as the Employee
shall determine in good faith) which shall be deemed to exist: (i) if the
Company's Board of Directors fails to elect or reelect the Employee to, or
removes the Employee from, any of the offices referred to in Section 1(a); (ii)
if the scope of Employee's duties, responsibilities, authority or position is
significantly reduced (excluding, for this purpose, changes in responsibilities
resulting from the growth or shrinkage of the Company's business) (but not
excluding changes resulting from a sale of the Company, whether by merger,
tender offer or otherwise) provided that Employee shall act within 30 days of
any such diminution in the scope of his duties, responsibilities, authority or
position; (iii) if the Company shall have continued to fail to comply with any
material provision of this Agreement after a 30-day period to cure (if such
failure is curable) following written notice to the Company of such
non-compliance; or, (iv) upon a change in control of the Company as defined in
Rule 405 of the Securities Act of 1933 or upon sale of substantially all of the
assets of the Company or the merger out of existence of the Company. In the
event of any termination under this Section 4(c), the Company shall, as
liquidated damages or severance pay, or both, pay the Termination Payments to
Employee. Finally, any and all unvested options granted hereunder shall
immediately vest.

                  (d)      During any period in which Employee is obligated not
to compete with the Company pursuant to Section 5 hereof (unless Employee was
terminated for Cause), Employee and his family shall continue to be covered by
the Company's life, medical, health and death plans. Such coverage shall be at
the Company's expense to the same extent as if Employee were still employed by
the Company. In the event of a termination pursuant to Sections 4(b) or 4(c),
the Company shall provide to Employee, at the Company's expense, outplacement
services of a nature customarily provided to a senior executive. Notwithstanding
the foregoing, the obligations of the Company pursuant to this Section 4(d)
shall remain in effect no longer than the term of the Termination Payments.

5.       Non-Competition.

         During the period of Employee's employment hereunder, the Employee
shall not, within any state in which the Company or any subsidiary of the
Company is duly qualified to do business, or in any state in which the Company
is then providing services or marketing its services (or engaged in active
discussions to provide such services), or within a one hundred (100) mile radius
of any such state, directly or indirectly own any interest in, manage, control,
participate in, consult with, render services for, or in any manner engage in
any business competing with the businesses of the Company as such businesses
exist or are in development on the date of the termination of the Employee's
employment (unless the Board of Directors shall have authorized such activity
and the Company shall have consented thereto in writing).

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Investments in less than five percent of the outstanding securities of any class
of a corporation subject to the reporting requirements of Section 13 or Section
15(d) of the Securities Exchange Act of 1934, as amended, shall not be
prohibited by this Section 5. At the option of Employee and so long as Employee
shall have executed the mutual release required under Section 4(d), Employee's
obligations under this Section 5 arising after the termination of Employee shall
be suspended during any period in which the Company fails to pay to him
Termination Payments required to be paid to him pursuant to this Agreement. The
provisions of this Section 5 are subject to the provisions of Section 14 of this
Agreement.

6.       Inventions and Confidential Information.

         The parties hereto recognize that a major need of the Company is to
preserve its specialized knowledge, trade secrets, and confidential information.
The strength and good will of the Company is derived from the specialized
knowledge, trade secrets, and confidential information generated from experience
with the activities undertaken by the Company and its subsidiaries. The
disclosure of this information and knowledge to competitors would be beneficial
to them and detrimental to the Company, as would the disclosure of information
about the marketing practices, pricing practices, costs, profit margins, design
specifications, analytical techniques, and similar items of the Company and its
subsidiaries. The Employee acknowledges that the proprietary information,
observations and data obtained by him while employed by the Company concerning
the business or affairs of the Company are the property of the Company. By
reason of his being a senior executive of the Company, the Employee has or will
have access to, and has obtained or will obtain, specialized knowledge, trade
secrets and confidential information about the Company's operations and the
operations of its subsidiaries, which operations extend throughout the United
States. Therefore, subject to the provisions of Section 14 hereof, the Employee
hereby agrees as follows, recognizing that the Company is relying on these
agreements in entering into this Agreement:

                           (i)      During the period of Employee's employment
with the Company and for three (3) years thereafter, the Employee will not use,
disclose to others, or publish or otherwise make available to any other party
any inventions or any confidential business information about the affairs of the
Company, including but not limited to confidential information concerning the
Company's products, methods, engineering designs and standards, analytical
techniques, technical information, customer information, employee information,
and other confidential information acquired by him in the course of his past or
future services for the Company. Employee agrees to hold as the Company's
property all books, papers, letters, formulas, memoranda, notes, plans, records,
reports, computer tapes, printouts, software and other documents, and all copies
thereof and therefrom, in any way relating to the Company's business and
affairs, whether made by him or otherwise coming into his possession, and on
termination of his employment, or on demand of the Company, at any time, to
deliver the same to the Company within twenty four (24) hours of such
termination or demand.

                           (ii)     During the period of Employee's employment
with the Company and for one (1) year thereafter, (a) the Employee will not
directly or indirectly through another entity induce or otherwise attempt to
influence any employee of the Company to leave the Company's employ and (b) the
Employee will not directly or indirectly hire or cause to be hired

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or induce a third party to hire, any such employee (unless the Board of
Directors shall have authorized such employment and the Company shall have
consented thereto in writing) or in any way interfere with the relationship
between the Company and any employee thereof and (c) induce or attempt to induce
any customer, supplier, licensee, licensor or other business relation of the
Company to cease doing business with the Company or in any way interfere with
the relationship between any such customer, supplier, licensee or business
relation of the Company.

         Notwithstanding any language to the contrary, the terms of this Section
6 will be without force and effect if the Company terminates the Employee
without cause.

7.       Indemnification.

         The Company will indemnify (and advance the costs of defense of) the
Employee (and his legal representatives) to the fullest extent permitted by the
laws of the state in which the Company is incorporated, as in effect at the time
of the subject act or omission, or by the Certificate of Incorporation and
Bylaws of the Company, as in effect at such time or on the date of this
Agreement, whichever affords greater protection to the Employee, and the
Employee shall be entitled to the protection of any insurance policies the
Company may elect to maintain generally for the benefit of its executive
officers, against all judgments, damages, liabilities, costs, charges and
expenses whatsoever incurred or sustained by him or his legal representative in
connection with any action, suit or proceeding to which he (or his legal
representatives or other successors) may be made a party by reason of his being
or having been an officer of the Company or any of its subsidiaries except that
the Company shall have no obligation to indemnify Employee for liabilities
resulting from conduct of the Employee with respect to which a court of
competent jurisdiction has made a final determination that Employee committed
gross negligence or willful misconduct.

8.       Litigation Expenses.

         In the event of any litigation or other proceeding between the Company
and the Employee with respect to the subject matter of this Agreement and the
enforcement of the rights hereunder and such litigation or proceeding results in
final judgment or order in favor of the Employee, which judgment or order is
substantially inconsistent with the positions asserted by the Company in such
litigation or proceeding, the Company in such event shall reimburse the Employee
for all of his reasonable costs and expenses relating to such litigation or
other proceeding, including, without limitation, his reasonable attorneys' fees
and expenses. In no event shall the Employee be required to reimburse the
Company for any of the costs and expenses relating to such litigation or other
proceeding.

9.       Consolidation; Merger; Sale of Assets; Change of Control.

         Nothing in this Agreement shall preclude the Company from combining,
consolidating or merging with or into, transferring all or substantially all of
its assets to, or entering into a partnership or joint venture with, another
corporation or other entity, or effecting any other kind of corporate
combination provided that the corporation resulting from or surviving such
combination, consolidation or merger, or to which such assets are transferred,
or such partnership

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or joint venture assumes this Agreement and all obligations and undertakings of
the Company hereunder. Upon such a consolidation, merger, transfer of assets or
formation of such partnership or joint venture, this Agreement shall inure to
the benefit of, be assumed by, and be binding upon such resulting or surviving
transferee corporation or such partnership or joint venture, and the term
"Company," as used in this Agreement, shall mean such corporation, partnership
or joint venture or other entity, and this Agreement shall continue in full
force and effect and shall entitle the Employee and his heirs, beneficiaries and
representatives to exactly the same compensation, benefits, perquisites,
payments and other rights as would have been their entitlement had such
combination, consolidation, merger, transfer of assets or formation of such
partnership or joint venture not occurred.

10.      Survival of Obligations.

         Sections 4, 5, 6, 7, 8, 9, 11, 12 and 14 shall survive the termination
for any reason of this Agreement (whether such termination is by the Company, by
the Employee, upon the expiration of this Agreement or otherwise).

11.      Employee's Representations.

         The Employee hereby represents and warrants to the Company that (i) the
execution, delivery and performance of this Agreement by the Employee do not and
shall not conflict with, breach, violate or cause a default under any contract,
agreement, instrument, order, judgment or decree to which the Employee is a
party or by which he is bound, (ii) the Employee is not a party to or bound by
any employment agreement, noncompete agreement or confidentiality agreement with
any other person or entity and (iii) upon the execution and delivery of this
Agreement by the Company, this Agreement shall be the valid and binding
obligation of the Employee, enforceable in accordance with its terms. The
Employee hereby acknowledges and represents that he has consulted with legal
counsel regarding his rights and obligations under this Agreement and that he
fully understands the terms and conditions contained herein.

12.      Company's Representations.

         The Company hereby represents and warrants to the Employee that (i) the
execution, delivery and performance of this Agreement by the Company do not and
shall not conflict with, breach, violate or cause a default under any contract,
agreement, instrument, order, judgment or decree to which the Company is a party
or by which it is bound and (ii) upon the execution and delivery of this
Agreement by the Employee, this Agreement shall be the valid and binding
obligation of the Company, enforceable in accordance with its terms.

13.      Enforcement.

         Because the Employee's services are unique and because the Employee has
access to confidential information concerning the Company, the parties hereto
agree that money damages would not be an adequate remedy for any breach of this
Agreement. Therefore, in the event of a breach or threatened breach of this
Agreement, the Company may, in addition to other rights and remedies existing in
its favor, apply to any court of competent jurisdiction for specific

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performance and/or injunctive or other relief in order to enforce, or prevent
any violations of, the provisions hereof (without posting a bond or other
security).

14.      Severability.

         In case any one or more of the provisions or part of a provision
contained in this Agreement shall for any reason be held to be invalid, illegal
or unenforceable in any respect in any jurisdiction, such invalidity, illegality
or unenforceability shall be deemed not to affect any other jurisdiction or any
other provision or part of a provision of this Agreement, nor shall such
invalidity, illegality or unenforceability affect the validity, legality or
enforceability of this Agreement or any provision or provisions hereof in any
other jurisdiction; and this Agreement shall be reformed and construed in such
jurisdiction as if such provision or part of a provision held to be invalid or
illegal or unenforceable had never been contained herein and such provision or
part reformed so that it would be valid, legal and enforceable in such
jurisdiction to the maximum extent possible. In furtherance and not in
limitation of the foregoing, the Company and the Employee each intend that the
covenants contained in Sections 5 and 6 shall be deemed to be a series of
separate covenants, one for each county of the State of Texas and one for each
and every other state, territory or jurisdiction of the United States and any
foreign country set forth therein. If, in any judicial proceeding, a court shall
refuse to enforce any of such separate covenants, then such unenforceable
covenants shall be deemed eliminated from the provisions hereof for the purpose
of such proceedings to the extent necessary to permit the remaining separate
covenants to be enforced in such proceedings. If, in any judicial proceeding, a
court shall refuse to enforce any one or more of such separate covenants because
the total time, scope or area thereof is deemed to be excessive or unreasonable,
then it is the intent of the parties hereto that such covenants, which would
otherwise be unenforceable due to such excessive or unreasonable period of time,
scope or area, be enforced for such lesser period of time, scope or area as
shall be deemed reasonable and not excessive by such court.

15.      Entire Agreement; Amendment.

         Except as otherwise set forth in this Agreement, this Agreement
contains the entire agreement between the Company and the Employee with respect
to the subject matter hereof and thereof. This Agreement may not be amended,
waived, changed, modified or discharged except by an instrument in writing
executed by or on behalf of the party against whom enforcement of any amendment,
waiver, change, modification or discharge is sought. No course of conduct or
dealing shall be construed to modify, amend or otherwise affect any of the
provisions hereof.

16.      Notices.

         All notices, requests, demands and other communications hereunder shall
be in writing and shall be deemed to have been duly given if physically
delivered, delivered by express mail or other expedited service or upon receipt
if mailed, postage prepaid, via registered mail, return receipt requested,
addressed as follows:

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         (a)      To the Company:                        (b) To the Employee:
                  Isolagen, Inc.                             Jeffrey W. Tomz
                  2500 Wilcrest, 5th Floor                   2223 Primwood Court
                  Houston, TX 77042                          Pearland, TX 77584

         and to:

                  Dilworth Paxson, LLP
                  1818 N. Street, N.W., Suite 400
                  Washington, D.C. 20036
                  Attn: Susan Stranahan Ciallella, Esquire

and/or to such other persons and addresses as any party shall have specified in
writing to the other.

17.      Assignability.

         This Agreement shall not be assignable by either party and shall be
binding upon, and shall inure to the benefit of, the heirs, executors,
administrators, legal representatives, successors and assigns of the parties. In
the event that all or substantially all of the business of the Company is sold
or transferred, then this Agreement shall be binding on the transferee of the
business of the Company whether or not this Agreement is expressly assigned to
the transferee.

18.      Governing Law.

         This Agreement shall be governed by and construed under the laws of the
State of Texas.

19.      Waiver and Further Agreement.

         Any waiver of any breach of any terms or conditions of this Agreement
shall not operate as a waiver of any other breach of such terms or conditions or
any other term or condition, nor shall any failure to enforce any provision
hereof operate as a waiver of such provision or of any other provision hereof.
Each of the parties hereto agrees to execute all such further instruments and
documents and to take all such further action as the other party may reasonably
require in order to effectuate the terms and purposes of this Agreement.

20.      Headings of No Effect.

         The paragraph headings contained in this Agreement are for reference
purposes only and shall not in any way affect the meaning or interpretation of
this Agreement.

                           (SIGNATURE PAGE TO FOLLOW)

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

                                          COMPANY:

                                          ISOLAGEN TECHNOLOGIES, INC.

                                          By: __________________________________

                                          EMPLOYEE:

                                          ______________________________________
                                          Jeffrey W. Tomz

                                       10<PAGE>

                                                                    EXHIBIT 10.9

                         EXECUTIVE EMPLOYMENT AGREEMENT
                            FOR WILLIAM K. BOSS, JR.
                                  AMENDMENT #1
                                FEBRUARY 28, 2002

This amends section 4.1 to:

     4.   Compensation and Benefits.

     4.1  Base Salary. As compensation for services to the Company, the Company
          shall pay to the Employee until the Date of Termination as follows: i)
          during the first year of the term, the Employee will receive 60,000
          shares of Common Stock (this has already been issued to the Employee
          in August 2001); (ii) an annual salary of $50,000 for 2002 beginning
          March 1, 2002; and (c) an annual salary of $60,000 for 2003. For this
          compensation, the Employee agrees to devote a minimum of 25 full
          mutually agreeable business days per year as requested by the Company
          (i.e., out-of-town meetings, etc.). The Base Salary shall be payable
          in equal semi-monthly installments or in accordance with the Company's
          established policy, subject only to such payroll and withholding
          deductions as may be required by law and other deductions applied
          generally to employees of the Company for insurance and other employee
          benefit plans.

As amended hereby, the Executive Employment Agreement remains in full force and
effect.

                                          ISOLAGEN TECHNOLOGIES, INC.

                                          By: __________________________________
                                          Name: Michael Macaluso
                                          Title: CEO

                                          EMPLOYEE

                                          ______________________________________
                                          William K. Boss, Jr.

<PAGE>

                         EXECUTIVE EMPLOYMENT AGREEMENT

         THIS EXECUTIVE EMPLOYMENT AGREEMENT (this "Agreement") is made and
entered into this 10th day of August, 2001 by and between Isolagen Technologies,
Inc., a Delaware corporation (hereinafter referred to as the "Company"), and
William K. Boss, Jr. (hereinafter referred to as the "Employee").

                                   WITNESSETH:

         WHEREAS, Employee desires to serve the Company as its Co-Chairman; and

         WHEREAS, the parties desire to provide that the Employee be employed by
the Company under the terms of this Agreement.

         NOW, THEREFORE, for and in consideration of the mutual promises,
covenants and obligations contained herein, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
Company and the Employee hereby agree as follows:

1.       Certain Definitions. As used in this Agreement, the following terms
have the meanings prescribed below:

         Affiliate is used in this Agreement to define a relationship to a
person or entity and means a person or entity who, directly or indirectly
through one or more intermediaries, controls, is controlled by, or is under
common control with, such person or entity.

         Annual Bonus shall have the meaning assigned thereto in Section 4.2
hereof.

         Base Salary shall have the meaning assigned thereto in Section 4.1
hereof.

         Cause shall have the meaning assigned thereto in Section 5.3 hereof.

         Code means the Internal Revenue Code of 1986, as amended, and the rules
and regulations promulgated by the Internal Revenue Service thereunder, all as
in effect from time to time during the Employment Period.

         Company means Isolagen Technologies, Inc., a Delaware corporation.

         Confidential Information shall have the meaning assigned thereto in
Section 8.2 hereof.

         Date of Termination means the earliest to occur of (i) the date of the
Employee's death, (ii) the date on which the Employee terminates this Agreement
for any reason or (iii) the date of receipt of the Notice of Termination, or
such later date as may be prescribed in the Notice of Termination in accordance
with Section 5.6 hereof.

         Disability means an illness or other disability which prevents the
Employee from discharging his responsibilities under this Agreement for a period
of 90 consecutive calendar days, or an

<PAGE>

aggregate of 90 calendar days in any calendar year, during the Employment
Period, all as determined in good faith by the Board of Directors of the
Company.

         Effective Date means ________________, 2001.

         Employee means William K. Boss, Jr., an individual.

         Employment Period shall have the meaning assigned thereto in Section 3
hereof.

         Exchange Act means the Securities Exchange Act of 1934, as amended, and
the rules and regulations promulgated by the Securities and Exchange Commission
thereunder, all as in effect from time to time during the Employment Period.

         Notice of Termination shall have the meaning assigned thereto in
Section 5.6 hereof.

         Parent shall mean American Financial Holding, Inc., a Delaware
corporation and sole shareholder of the Company.

         Parent Common Stock shall mean the Common Stock, $.001 par value per
share of the Parent.

         Without Cause shall have the meaning assigned thereto in Section 5.4
hereof.

2.       General Duties of Company and Employee.

         2.1      The Company agrees to employ the Employee, and the Employee
agrees to accept employment by the Company and to serve the Company as its
Co-Chairman. The authority, duties and responsibilities of the Employee shall
include those duties of Co-Chairman as may be specified in the Bylaws of the
Company as in effect on the date hereof, and such other or additional duties as
may from time to time be assigned to the Employee by the Board of Directors.
While employed hereunder, the Employee shall devote his full time and attention
during normal business hours to the affairs of the Company and use his best
efforts to perform faithfully and efficiently his duties and responsibilities.
The Employee may (i) serve on corporate, civic or charitable boards or
committees provided that (A) such boards or committees do not control or advise
business entities that compete with the Company and (B) all such services are
promptly disclosed in writing to the Board of Directors, (ii) deliver lectures,
fulfill speaking engagements or teach at educational institutions and (iii)
manage personal investments, so long as such activities do not interfere with
the performance of the Employee's duties and responsibilities.

         2.2      The Employee agrees and acknowledges that he owes a fiduciary
duty of loyalty, fidelity and allegiance to act at all times in the best
interests of the Company and to do no act and to make no statement, oral or
written, which would injure the Company's business, its interests or its
reputation.

                                        3

<PAGE>

         2.3      The Employee agrees to comply at all times with all applicable
policies, rules and regulations of the Company, including, without limitation,
the Parent's Code of Ethics and the Parent's policy regarding trading in the
Parent Common Stock, as each is in effect from time to time during the
Employment Period.

3.       Term. Unless sooner terminated pursuant to other provisions hereof, the
Employee's period of employment under this Agreement shall be the period
beginning on the Effective Date and ending on the fifth anniversary thereof. The
period of time beginning on the Effective Date and ending on the fifth
anniversary thereof, or such earlier date on which this Agreement is terminated
prior to the end of such period pursuant to other provisions hereof, is referred
to herein as the "Employment Period."

4.       Compensation and Benefits.

         4.1      Base Salary. As compensation for services to the Company, the
Company shall pay to the Employee until the Date of Termination as follows: i)
In exchange for 60,000 shares of the Parent, the Employee will not receive a
salary for twelve (12) months after the Effective Date; (ii) Twelve (12) months
after the Effective Date, the Employee will receive an annual base salary of
$75,000 (the "Base Salary"); (iii) Twenty-four (24) months after the Effective
Date, the Employee will receive an annual base salary of $100,000; (iv)
Thirty-six (36) months after the Effective Date, the Employee will receive an
annual base salary of $125,000; (v) Forty-eight (48) months after the Effective
Date, the Employee will receive an annual base salary of $137,500; (vi) The
Employee will receive a $50,000 bonus upon the FDA's final approval of the
Company's product for cosmetic purposes or upon the Company receiving an
additional United States patent for such product; and (vii) For every one-night
over night trip that the Employee attends on behalf of the Company, the Employee
will be eligible to receive an additional $5,000 per day. For every multiple day
over-night trips that the Employee attends on behalf of the Company, the
Employee's additional $5,000 per day will be reduced to $3,500 per day. The Base
Salary shall be payable in equal semi-monthly installments or in accordance with
the Company's established policy, subject only to such payroll and withholding
deductions as may be required by law and other deductions applied generally to
employees of the Company for insurance and other employee benefit plans.

         4.2      Annual Bonus. The Company will pay Employee an annual bonus
("Annual Bonus") to be determined by the Board of Directors in its sole
discretion. The Annual Bonus shall be payable at a time to be determined by the
Board of Directors in its sole discretion.

         4.3      Vacation. Until the Date of Termination, the Employee shall be
entitled to vacation as determined by the Company's vacation policy for its
executive officers as in effect from time to time.

         4.4      Incentive, Savings and Retirement Plans. Until the Date of
Termination, the Employee shall be eligible to participate in and shall receive
all benefits under all executive incentive, savings and retirement plans
(including 401(k) plans) and programs currently maintained or hereafter
established by the Company for the benefit of its executive officers and/or
employees.

                                        4

<PAGE>

         4.5      Welfare Benefit Plans. Until the Date of Termination, the
Employee and/or the Employee's family, as the case may be, shall be eligible to
participate in and shall receive all benefits under each welfare benefit plan of
the Company currently maintained or hereafter established by the Company for the
benefit of its employees. Such welfare benefit plans may include, without
limitation, medical, dental, disability, group life, accidental death and travel
accident insurance plans and programs.

         4.6      Reimbursement of Expenses. The Employee may from time to time
until the Date of Termination incur various business expenses customarily
incurred by persons holding positions of like responsibility, including, without
limitation, travel, entertainment and similar expenses incurred for the benefit
of the Company. Subject to the Company's policy regarding the reimbursement of
such expenses as in effect from time to time during the Employment Period, which
does not necessarily allow reimbursement of all such expenses, the Company shall
reimburse the Employee for such expenses from time to time, at the Employee's
request, and the Employee shall account to the Company for all such expenses.

         4.7      Stock Options. The Board of Directors of the Parent, in its
sole discretion, may grant to the Employee options to acquire shares of Parent
Common Stock with such terms and conditions as determined by the Board of
Directors in its sole discretion.

5.       Termination.

         5.1      Death. This Agreement shall terminate automatically upon the
death of the Employee.

         5.2      Disability. The Company may terminate this Agreement, upon
written notice to the Employee delivered in accordance with Sections 5.6 and
12.1 hereof, upon the Disability of the Employee.

         5.3      Cause. The Company may terminate the Employee's employment
hereunder for Cause. For purposes of this Agreement, the Company shall have
"Cause" to terminate the Employee's employment under upon (A) the willful
failure by the Employee to substantially perform his duties hereunder (other
than any such failure resulting from the Employee's incapacity due to physical
or mental illness) or failure to follow the specific directives of the Board of
Directors, after demand for substantial performance that specifically identifies
the manner in which the Company believes the Employee has not substantially
performed his duties is delivered to the Employee by the Company, or (B) the
willful engaging by the Employee in misconduct which is materially injurious to
the Company, monetarily or otherwise. For purposes of this paragraph, no act, or
failure to act, on the Employee's part shall be considered "willful" unless
done, or omitted to be done, by him not in good faith and without reasonable
belief that his action or omission was in the best interest of the Company.
Notwithstanding the foregoing, the Employee shall not be deemed to have been
terminated for Cause without (A) 15 days notice to the Employee setting forth
the reasons for the Company's intention to terminate for Cause and (B) delivery
to the Employee of a Notice of

                                        5

<PAGE>

Termination as defined in Section 5.6 hereof, from the Board of Directors
finding that, in the good faith opinion of the Board of Directors, the Employee
was guilty of conduct set forth above in clause (A) of this Section 5.3 and
specifying the particulars thereof in detail.

         5.4      Without Cause. The Company may terminate this Agreement
Without Cause, upon written notice to the Employee delivered in accordance with
Sections 5.6 and 12.1 hereof. For purposes of this Agreement, the Employee will
be deemed to have been terminated "Without Cause" if the Employee is terminated
by the Company for any reason other than Cause, Disability of the Employee or
death of the Employee.

         5.5      By the Employee. The Employee may terminate this Agreement for
any reason, upon written notice to the Company delivered in accordance with
Sections 5.6 and 12.1 hereof.

         5.6      Notice of Termination. Any termination of this Agreement by
the Company for Cause, Without Cause or as a result of the Disability of the
Employee, or by the Employee for any reason, shall be communicated by Notice of
Termination to the other party hereto given in accordance with this Agreement.
For purposes of this Agreement, a "Notice of Termination" means a written notice
which (i) indicates the specific termination provision in this Agreement relied
upon, (ii) sets forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of the Employee's employment under the
provision so indicated and (iii) specifies the termination date, if such date is
other than the date of receipt of such notice (which termination date shall not
be more than 15 days after the giving of such notice).

6.       Obligations of Company upon Termination.

         6.1      Cause; By Employee; Disability. If this Agreement shall be
terminated (i) by the Company for Cause or Disability of the Employee, (ii) on
the death of the Employee or (iii) by the Employee for any reason:

                  6.1.1    the Company shall pay to the Employee or his estate,
         in a lump sum in cash within 30 days after the Date of Termination, the
         aggregate of the following amounts:

                           6.1.1.1  if not theretofore paid, the Base Salary
                  through the Date of Termination; and

                           6.1.1.2  in the case of compensation previously
                  deferred by the Employee, all amounts of such compensation
                  previously deferred and not yet paid by the Company; and

                  6.1.2    the Company shall, promptly upon submission by the
         Employee of supporting documentation, pay or reimburse to the Employee
         any costs and expenses paid or incurred by the Employee prior to the
         Date of Termination which would have been payable under Section 4.6
         hereof if the Employee's employment had not terminated.

                                        6

<PAGE>

         6.2      Without Cause. If this Agreement shall be terminated by the
Company Without Cause: 1.1

                  6.2.1    the Company shall pay to the Employee, in a lump sum
         in cash within 30 days after the Date of Termination, the aggregate of
         the following amounts:

                           6.2.1.1 if not theretofore paid, the Base Salary
                  through the Date of Termination; and

                           6.2.1.2 in the case of compensation previously
                  deferred by the Employee, all amounts of such compensation
                  previously deferred and not yet paid by the Company;

                  6.2.2    the Company shall, promptly upon submission by the
         Employee of supporting documentation, pay or reimburse to the Employee
         any costs and expenses paid or incurred by the Employee prior to the
         Date of Termination which would have been payable under Section 4.6
         hereof if the Employee's employment had not terminated;

                  6.2.3    for a period of 3 months after the Date of
         Termination, the Company shall continue benefits to the Employee and/or
         the Employee's family at least equal to those which would have been
         provided to them under Section 4.5 hereof if the Employee's employment
         had not been terminated; and

                  6.2.4    the Company shall pay to the Employee, in equal
         semi-monthly installments, the Base Salary for a period of 3 months
         after the Date of Termination.

7.       Employee's Obligation to Avoid Conflicts of Interest.

         7.1      Consistent with the Employee's fiduciary duties to the
Company, the Employee agrees that he shall not knowingly become involved in a
conflict of interest with the Company, or upon discovery thereof, allow such a
conflict to continue. The Employee further agrees to disclose to the Company,
promptly after discovery, any facts or circumstances which might involve a
conflict of interest with the Company.

         7.2      The Company and the Employee recognize that it is impossible
to provide an exhaustive list of actions or interests which constitute a
"conflict of interest." Moreover, the Company and the Employee recognize that
there are many borderline situations. In some instances, full disclosure of
facts by the Employee to the Company is all that is necessary to enable the
Company to protect its interests. In others, if no improper motivation appears
to exist and the Company's interests have not suffered, prompt elimination of
the outside interest will suffice. In still others, it may be necessary for the
Company to terminate the employment relationship. The Company and the Employee
agree that the Company's determination as to whether or not a conflict of
interest exists shall be conclusive. The Company reserves the right to take such
action as, in its judgment, will end the conflict of interest.

                                        7

<PAGE>

         7.3      In this connection, it is agreed that any direct or indirect
interest in, connection with or benefit from any outside activities,
particularly commercial activities, which interest might in any way adversely
affect the Company or its Affiliates, involves a possible conflict of interest.
Circumstances in which a conflict of interest on the part of the Employee would
or might arise, and which should be reported immediately to the Company,
include, but are not limited to, the following:

                  7.3.1    Ownership of a material interest in any lender,
         supplier, contractor, subcontractor, customer or other entity with
         which the Company does business.

                  7.3.2    Acting in any capacity, including director, officer,
         partner, consultant, employee, distributor, agent or the like, for any
         lender, supplier, contractor, subcontractor, customer or other entity
         with which the Company does business.

                  7.3.3    Acceptance, directly or indirectly, of payments,
         services or loans from a lender, supplier, contractor, subcontractor,
         customer or other entity with which the Company does business,
         including, without limitation, gifts, trips, entertainment or other
         favors of more than a nominal value, but excluding loans from publicly
         held insurance companies and commercial or savings banks at market
         rates of interest.

                  7.3.4    Use of information or facilities to which the
         Employee has access in a manner which will be detrimental to the
         Company's interests, such as use for the Employee's own benefit of
         know-how or information developed through the Company's business
         activities.

                  7.3.5    Disclosure or other misuse of information of any kind
         obtained through the Employee's connection with the Company.

                  7.3.6    Acquiring or trading in, directly or indirectly,
         other properties or interests connected with the design or marketing of
         products or services designed or marketed by the Company.

8.       Employee's Confidentiality Obligation.

         8.1      The Employee hereby acknowledges, understands and agrees that
all Confidential Information is the exclusive and confidential property of the
Company and its Affiliates which shall at all times be regarded, treated and
protected as such in accordance with this Section 8. The Employee acknowledges
that all such Confidential Information is in the nature of a trade secret.

         8.2      For purposes of this Agreement, "Confidential Information"
means information which is used in the business of the Company or its Affiliates
and (i) is proprietary to, about or created by the Company or its Affiliates,
(ii) gives the Company or its Affiliates some competitive business advantage or
the opportunity of obtaining such advantage or the disclosure of which could be
detrimental to the interests of the Company or its Affiliates, (iii) is
designated as Confidential Information by the Company or its Affiliates, is
known by the Employee to be considered confidential by the Company or its
Affiliates, or from all the relevant circumstances should

                                        8

<PAGE>

reasonably be assumed by the Employee to be confidential and proprietary to the
Company or its Affiliates, or (iv) is not generally known by non-Company
personnel. Such Confidential Information includes, without limitation, the
following types of information and other information of a similar nature
(whether or not reduced to writing or designated as confidential):

                  8.2.1    Internal personnel and financial information of the
         Company or its Affiliates, vendor information (including vendor
         characteristics, services, prices, lists and agreements), purchasing
         and internal cost information, internal service and operational
         manuals, and the manner and methods of conducting the business of the
         Company or its Affiliates;

                  8.2.2    Marketing and development plans, price and cost data,
         price and fee amounts, pricing and billing policies, quoting
         procedures, marketing techniques, forecasts and forecast assumptions
         and volumes, and future plans and potential strategies (including,
         without limitation, all information relating to any acquisition
         prospect and the identity of any key contact within the organization of
         any acquisition prospect) of the Company or its Affiliates which have
         been or are being discussed;

                  8.2.3    Names of customers and their representatives,
         contracts (including their contents and parties), customer services,
         and the type, quantity, specifications and content of products and
         services purchased, leased, licensed or received by customers of the
         Company or its Affiliates; and

                  8.2.4    Confidential and proprietary information provided to
         the Company or its Affiliates by any actual or potential customer,
         government agency or other third party (including businesses,
         consultants and other entities and individuals).

         8.3      As a consequence of the Employee's acquisition or anticipated
acquisition of Confidential Information, the Employee shall occupy a position of
trust and confidence with respect to the affairs and business of the Company and
its Affiliates. In view of the foregoing and of the consideration to be provided
to the Employee, the Employee agrees that it is reasonable and necessary that
the Employee make each of the following covenants:

                  8.3.1    Until the Date of Termination and at all times
         thereafter, the Employee shall not disclose Confidential Information to
         any person or entity, either inside or outside of the Company, other
         than as necessary in carrying out his duties and responsibilities as
         set forth in Section 2 hereof, without first obtaining the Company's
         prior written consent (unless such disclosure is compelled pursuant to
         court orders or subpoena, and at which time the Employee shall give
         notice of such proceedings to the Company).

                  8.3.2    Until the Date of Termination and at all times
         thereafter, the Employee shall not use, copy or transfer Confidential
         Information other than as necessary in carrying out his duties and
         responsibilities as set forth in Section 2 hereof, without first
         obtaining the Company's prior written consent.

                                        9

<PAGE>

                  8.3.3    On the Date of Termination, the Employee shall
         promptly deliver to the Company (or its designee) all written
         materials, records and documents made by the Employee or which came
         into his possession on or before the Date of Termination (even if prior
         to the date hereof) concerning the business or affairs of the Company
         or its Affiliates, including, without limitation, all materials
         containing Confidential Information.

9.       Disclosure of Information, Ideas, Concepts, Improvements, Discoveries
and Inventions. As part of the Employee's fiduciary duties to the Company, the
Employee agrees that during his employment by the Company and (a) in the event
of a termination under Section 6.1 hereof for a period of one year following the
Date of Termination and (b) in the event of a termination under Section 6.2
hereof for a period equal to the period for which payments are made to the
Employee under Section 6.2.4 hereof, the Employee shall promptly disclose in
writing to the Company all information, ideas, concepts, improvements,
discoveries and inventions, whether patentable or not, and whether or not
reduced to practice, which are conceived, developed, made or acquired by the
Employee, either individually or jointly with others, and which relate to the
business, products or services of the Company or its Affiliates, irrespective of
whether the Employee used the Company's time or facilities and irrespective of
whether such information, idea, concept, improvement, discovery or invention was
conceived, developed, discovered or acquired by the Employee on the job, at
home, or elsewhere. This obligation extends to all types of information, ideas
and concepts, including information, ideas and concepts relating to new types of
services, corporate opportunities, acquisition prospects, the identity of key
representatives within acquisition prospect organizations, prospective names or
service marks for the Company's business activities, and the like.

10.      Ownership of Information, Ideas, Concepts, Improvements, Discoveries
and Inventions, and all Original Works of Authorship.

         10.1     All information, ideas, concepts, improvements, discoveries
and inventions, whether patentable or not, which are conceived, made, developed
or acquired by the Employee or which are disclosed or made known to the
Employee, individually or in conjunction with others, during the Employee's
employment by the Company and which relate to the business, products or services
of the Company or its Affiliates (including, without limitation, all such
information relating to corporate opportunities, research, financial and sales
data, pricing and trading terms, evaluations, opinions, interpretations,
acquisition prospects, the identity of customers or their requirements, the
identity of key contacts within the customers' organizations or within the
organization of acquisition prospects, marketing and merchandising techniques,
and prospective names and service marks) are and shall be the sole and exclusive
property of the Company. Furthermore, all drawings, memoranda, notes, records,
files, correspondence, manuals, models, specifications, computer programs, maps
and all other writings or materials of any type embodying any of such
information, ideas, concepts, improvements, discoveries and inventions are and
shall be the sole and exclusive property of the Company.

         10.2     In particular, the Employee hereby specifically sells,
assigns, transfers and conveys to the Company all of his worldwide right, title
and interest in and to all such information, ideas, concepts, improvements,
discoveries or inventions, and any United States or foreign applications for

                                       10

<PAGE>

patents, inventor's certificates or other industrial rights which may be filed
in respect thereof, including divisions, continuations, continuations-in-part,
reissues and/or extensions thereof, and applications for registration of such
names and service marks. The Employee shall assist the Company and its nominee
at all times, until the Date of Termination and at all times thereafter, in the
protection of such information, ideas, concepts, improvements, discoveries or
inventions, both in the United States and all foreign countries, which
assistance shall include, but shall not be limited to, the execution of all
lawful oaths and all assignment documents requested by the Company or its
nominee in connection with the preparation, prosecution, issuance or enforcement
of any applications for United States or foreign letters patent, including
divisions, continuations, continuations-in-part, reissues and/or extensions
thereof, and any application for the registration of such names and service
marks.

         10.3     In the event the Employee creates, during the Employee's
employment by the Company, any original work of authorship fixed in any tangible
medium of expression which is the subject matter of copyright (such as,
videotapes, written presentations on acquisitions, computer programs, drawings,
maps, architectural renditions, models, manuals, brochures or the like) relating
to the Company's business, products or services, whether such work is created
solely by the Employee or jointly with others, the Company shall be deemed the
author of such work if the work is prepared by the Employee within the scope of
his employment; or, if the work is not prepared by the Employee within the scope
of his employment but is specially ordered by the Company as a contribution to a
collective work, as a part of a motion picture or other audiovisual work, as a
translation, as a supplementary work, as a compilation or as an instructional
text, then the work shall be considered to be a work made for hire, and the
Company shall be the author of such work. If such work is neither prepared by
the Employee within the scope of his employment nor a work specially ordered and
deemed to be a work made for hire, then the Employee hereby agrees to sell,
transfer, assign and convey, and by these presents, does sell, transfer, assign
and convey, to the Company all of the Employee's worldwide right, title and
interest in and to such work and all rights of copyright therein. The Employee
agrees to assist the Company and its Affiliates, at all times, until the Date of
Termination and at all times thereafter, in the protection of the Company's
worldwide right, title and interest in and to such work and all rights of
copyright therein, which assistance shall include, but shall not be limited to,
the execution of all documents requested by the Company or its nominee and the
execution of all lawful oaths and applications for registration of copyright in
the United States and foreign countries.

11.      Employee's Non-Competition Obligation.

         11.1     Until the Date of Termination, and (a) in the event of a
termination under Section 6.1 hereof for a period of one year following the Date
of Termination or (b) in the event of a termination under Section 6.2 hereof for
a period equal to the period for which payments are made to the Employee under
Section 6.2.4 hereof, the Employee shall not, acting alone or in conjunction
with others, directly or indirectly, in any of the business territories in which
the Company or any of its Affiliates is as of the Date of Termination conducting
business, invest or engage, directly or indirectly, in any business which is
competitive with that of the Company as of the Date of Termination or accept
employment with or render services to such a competitor as a director, officer,

                                       11

<PAGE>

agent, employee or consultant, or take any action inconsistent with the
fiduciary relationship of an employee to his employer; provided, however, that
the beneficial ownership by the Employee of up to three percent of the voting
stock of any corporation subject to the periodic reporting requirements of the
Exchange Act shall not violate this Section 11.1.

         11.2     In addition to the other obligations agreed to by the Employee
in this Agreement, the Employee agrees that until the Date of Termination, and
(a) in the event of a termination under Section 6.1 hereof for a period of one
year following the Date of Termination or (b) in the event of a termination
under Section 6.2 hereof for a period equal to the period for which payments are
made to the Employee under Section 6.2.4 hereof, he shall not at any time,
directly or indirectly, (i) induce, entice or solicit any employee of the
Company to leave his employment, (ii) contact, communicate or solicit any
customer or acquisition prospect of the Company derived from any customer list,
customer lead, mail, printed matter or other information secured from the
Company or its present or past employees or (iii) in any other manner use any
customer lists or customer leads, mail, telephone numbers, printed material or
other information of the Company relating thereto.

         11.3     The parties hereto acknowledge and agree that (i) the
agreements and covenants set forth in this Section 11 are being made for good
and valuable consideration, the receipt and sufficiency of which is
acknowledged; (ii) the covenants contained in this Section 11 are an important
aspect of this Agreement, and the Company would not have entered into this
Agreement absent the inclusion of this Section 11; and (iii) the restrictions
imposed in this Section 11, including the geographic area and duration of the
covenants made herein, are reasonable and necessary to protect the Company. If
the Employee breaches or indicates an intention to breach any term or provision
of this Section 11, the parties hereto agree that the Company shall be entitled
to the right of both temporary and permanent injunctive relief and/or specific
performance. The right of the Company to such relief shall not be construed to
prevent the Company from pursuing, either consecutively or concurrently, any and
all other legal or equitable remedies available to it for such breach or
threatened breach, specifically including, without limitation, the recovery of
monetary damages. If any court determines that any provision of this Section 11,
or any part thereof, is unenforceable because of the duration or geographic
scope of such provision, the parties hereto agree that such court shall have the
power to reduce the duration or geographic scope of such provision, as the case
may be, and the parties hereto agree to request the court to exercise such
power, and, in its amended form, such provision shall then be enforceable and
shall be enforced.

12.      Miscellaneous.

         12.1     Notices. All notices and other communications required or
permitted hereunder or necessary or convenient in connection herewith shall be
in writing and shall be deemed to have been given when delivered by hand or
mailed by registered or certified mail, return receipt requested, as follows
(provided that notice of change of address shall be deemed given only when
received):

                                       12

<PAGE>

         If to the Company to:

                  Isolagen Technologies, Inc.
                  c/o American Financial Holding, Inc.
                  700 Gemini Street, Suite 100
                  Houston, Texas 77058

         If to the Employee to:

                  William K. Boss, Jr.
                  31 Devon Road
                  Essex Fells, New Jersey 07021

or to such other names or addresses as the Company or the Employee, as the case
may be, shall designate by notice to the other party hereto in the manner
specified in this Section 12.1.

         12.2     Waiver of Breach. The waiver by any party hereto of a breach
of any provision of this Agreement shall neither operate nor be construed as a
waiver of any subsequent breach by any party.

         12.3     Assignment. This Agreement shall be binding upon and inure to
the benefit of the Company, its successors, legal representatives and assigns,
and upon the Employee, his heirs, executors, administrators, representatives and
assigns; provided, however, the Employee agrees that his rights and obligations
hereunder are personal to him and may not be assigned without the express
written consent of the Company.

         12.4     Entire Agreement; No Oral Amendments. This Agreement, together
with any exhibit attached hereto and any document, policy, rule or regulation
referred to herein, replaces and merges all previous agreements and discussions
relating to the same or similar subject matter between the Employee and the
Company and constitutes the entire agreement between the Employee and the
Company with respect to the subject matter of this Agreement. This Agreement may
not be modified in any respect by any verbal statement, representation or
agreement made by any employee, officer, or representative of the Company or by
any written agreement unless signed by an officer of the Company who is
expressly authorized by the Company to execute such document.

         12.5     Enforceability. If any provision of this Agreement or
application thereof to anyone or under any circumstances shall be determined to
be invalid or unenforceable, such invalidity or unenforceability shall not
affect any other provisions or applications of this Agreement which can be given
effect without the invalid or unenforceable provision or application.

         12.6     Jurisdiction; Arbitration. The laws of the State of Delaware
shall govern the interpretation, validity and effect of this Agreement without
regard to the place of execution or the place for performance thereof. Except
for the Company's right to seek equitable relief as provided in Section 12.7
hereof, any controversy or claim arising out of or relating to this Agreement,
or the breach thereof, shall be submitted to arbitration in Houston, Texas
administered by the American

                                       13

<PAGE>

Arbitration Association in accordance with its applicable arbitration rules, and
the judgment on the award rendered by the arbitrator(s) may be entered in any
court having jurisdiction thereof, which judgment shall be binding upon the
parties hereto.

         12.7     Injunctive Relief. The Company and the Employee agree that a
breach of any term of this Agreement by the Employee would cause irreparable
damage to the Company and that, in the event of such breach, the Company shall
have, in addition to any and all remedies of law, the right to any injunction,
specific performance and other equitable relief to prevent or to redress the
violation of the Employee's duties or responsibilities hereunder.

                            [Signature page follows]

                                       14

<PAGE>

         IN WITNESS WHEREOF, the undersigned, intending to be legally bound,
have executed this Agreement as of the date first written above.

                                          ISOLAGEN TECHNOLOGIES, INC.

                                          By: __________________________________
                                          Name: Dennis McGill
                                          Title: COO

                                          EMPLOYEE

                                          ______________________________________
                                          William K. Boss, Jr.

                                       15

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