Document:

<PAGE>

                                                                     EXHIBIT 4.3

<PAGE>

                              THIS ESCROW AGREEMENT
                                   MADE AS OF
                           THE 31ST DAY JANUARY, 2001.

BETWEEN:

                          EQUILAR CAPITAL CORPORATION,
                                   ("Equilar")

                                      -and-

                                  GEORGE WARASH
                               (the "Shareholder")

                                      -and-

                              R. BRUCE BOYDEN, ESQ.
                                (the "Releasor")

                                      -and-

                             HERITAGE TRUST COMPANY
                                  (the "Agent")

         WHEREAS the Shareholder presently owns shares and warrants of Equilar;

         AND WHEREAS Equilar is a corporation of the type which is commonly
referred to as a public company;

         AND WHEREAS it is the present intention of Equilar to present an
application in due course for the listing of its shares on a suitable stock
exchange (the "Exchange");

         AND WHEREAS the Shareholder is cognizant of the fact that a condition
precedent to an original listing on such Exchange may require that certain
escrow provisions be adopted;

         AND WHEREAS the Shareholder has agreed that it would be desirable for
it to deposit its respective shares and warrants of Equilar as outlined in
Schedule "A" hereto into a voluntary escrow arrangement, whether an Exchange
listing is achieved or not;

         AND WHEREAS the Agent has agreed to undertake and perform its duties
according to the terms and conditions hereof;

         NOW THEREFORE this Agreement witnesseth that in consideration of the
covenants contained herein and of the sum of one dollar ($1.00) now paid by the
parties hereto each to the other (the receipt and sufficiency of which sum the
parties do hereby respectively acknowledge each to the other), the Shareholder
jointly and severally covenants and agrees as follows:

<PAGE>
                                      -2-

1.       DEFINED TERMS

Under this Agreement, the following terms shall have the following meanings,
respectively:

1.1      "Delivery Date" means the 22nd day of January, 2001; and

1.2      "Equilar Shares" means: the common shares without par value in the
         capital stock of Equilar; the share purchase warrants of Equilar; and
         all or a portion of, as the context requires, of common shares without
         par value in the capital stock of Equilar resulting from the exercise
         of said share purchase warrants, as outlined in Schedule "A" hereto.

2.       DEPOSIT OF EQUILAR SHARES

2.1      The Shareholder hereby places and deposits and agrees and undertakes to
         place and deposit in escrow, on or before the Delivery Date, the
         Equilar Shares and to deliver or to cause to be delivered to the Agent:

         (a)      immediately upon the same being issued to the Shareholder
                  pursuant to the Share Exchange Agreement dated January 22,
                  2001, any and all certificates evidencing or representing the
                  Equilar Shares issued to the Shareholder; and

         (b)      any and all replacement securities or certificates if and when
                  such are issued or allotted.

2.2      The Shareholder agrees that the Equilar Shares and the beneficial
         ownership of or any interest in them and the certificates representing
         them (including any replacement certificates) shall not be sold,
         assigned, hypothecated, alienated, released from escrow, transferred
         within escrow, or otherwise traded, disposed of or dealt with in any
         manner, except in accordance with the terms hereof or except as may be
         required by reason of the death or bankruptcy of the Shareholder, in
         which case the Agent shall hold the said certificates subject to this
         Agreement, for whatever person, firm or corporation shall be legally
         entitled to be or become the registered owner thereof.

2.3      The Shareholder hereby directs the Agent to retain the Equilar Shares
         and the certificates (including any replacement securities or
         certificates, as and when issued) representing the same and not to do
         or cause anything to be done to release the same from escrow or to
         allow any transfer, hypothecation or alienation thereof except in
         accordance with the terms hereof.

2.4      The Agent hereby accepts the responsibilities placed upon it hereby and
         agrees to perform the same in accordance with the terms hereof.

3.       NO PARTNERSHIP OR SIMILAR JOINT ENTERPRISE CREATED HEREBY

3.1      The Shareholder and the Releasor have their own independent investment
         objectives, and neither of them have made or will make an agreement to
         work together with any other owner of any securities of Equilar, toward
         a common purpose or objective to control or to attempt to affect
         materially the control of Equilar. Accordingly, nothing herein provided

<PAGE>
                                      -3-

         is intended to create, and the entering into of this Agreement does not
         create, any partnership or joint enterprise interest between the
         Shareholder and the Releasor or any other party in respect of the
         Equilar Shares.

4.       RELEASE FROM ESCROW

4.1      In the event that the shares of Equilar shall be called to trade
         through the facilities of a suitable stock exchange:

         (a)      it may be that the express consent, order or direction in
                  writing of such Exchange must be first had and obtained prior
                  to the release of any of the Equilar Shares from the terms of
                  the escrow herein created;

         (b)      the written consent, order or direction of the Exchange as to
                  a release from escrow of all or part of the Equilar Shares
                  shall terminate this Agreement only in respect of those
                  securities so released and, for greater certainty, this
                  provision does not apply to securities transferred within
                  escrow;

         (c)      it is understood that any such Exchange consents to release
                  from escrow will be based upon the rules of such Exchange, as
                  promulgated from time to time; and

         (d)      the parties hereby agree that the Exchange may, in certain
                  circumstances including but not limited to the suspension from
                  trading or de-listing of the issuer by the Exchange, require
                  that all or any of the securities then in escrow be tendered
                  to the issuer by way of gift or for cancellation and that:

                  (i)      any such securities shall remain in escrow, subject
                           to the terms and conditions of this Agreement, until
                           the securities are fully and effectually canceled or
                           otherwise transferred for the benefit of the issuer;
                           and

                  (ii)     where the securities can not be canceled, they shall
                           be held for the benefit of the issuer by the Agent
                           and remain in escrow, subject to the terms and
                           conditions of this Agreement, but they shall not be
                           voted and any dividends shall be donated back for the
                           benefit of the issuer.

4.2      Notwithstanding the provisions of section 4.1, the Shareholder does
         hereby acknowledge that there is a positive duty incumbent upon it and,
         further, that it is in its best interests, to take active steps to
         encourage and assist in the development and maintenance of an orderly
         market for the securities of Equilar. The Shareholder shall not be
         entitled to obtain a release of any of the Equilar Shares from escrow
         until 24 months following the date of this Agreement (the "Escrow
         Term"), subject to the exercise of discretion granted to the Releasor
         under section 4.3 below whereby the Equilar Shares may be released
         prior to the expiration of the Escrow Term. Thereafter, subject only to
         the requirements of any Exchange, as set out in section 4.1 above, the
         Shareholder shall be entitled to receive the Equilar Shares from the
         Agent.

4.3      Subject to the requirements of the Exchange, if applicable, the
         Releasor may, at his discretion, cause or permit the securities which
         are the subject of the escrow herein

<PAGE>
                                      -4-

         created to be released to the Shareholder prior to the expiration of
         the Escrow Term, provided that such discretionary release may not be
         caused or permitted by the Releasor to the Shareholder without a pro
         rata release being caused or permitted to any other Shareholder which
         is a party hereto.

4.4      The Shareholder hereby agrees to and does hereby release and indemnify
         and save harmless the Releasor from and against all claims, suits,
         demands, costs, damages and expenses which may be occasioned by reason
         of the Releasor's compliance in good faith with the terms hereof.

5.       TRANSFERS WITHIN ESCROW

5.1      Provided that any necessary consents are first obtained from any stock
         exchange through which the Equilar Shares might be traded, and subject
         always to relevant securities law, and notwithstanding any other
         provision in this Agreement, the Shareholder may sell or transfer
         Equilar Shares held in escrow to any other person, firm or corporation
         subject to the following conditions:

         (a)      the purchaser or transferee of the Equilar Shares must execute
                  a copy of this Agreement and become a party hereto;

         (b)      the Equilar Shares to be sold or transferred shall remain
                  subject to the provisions of this Agreement; and

         (c) the Agent shall be notified in writing of such sale or transfer.

6.       VOTING AND DIVIDENDS

6.1      Unless contrary to extant securities legislation, the rules of any
         stock exchange through which the shares of Equilar might be traded or
         otherwise expressly provided herein, nothing in this Agreement shall
         affect the right of the Shareholder whose Equilar Shares are held in
         escrow pursuant to the terms hereof to:

         (a)      continue to vote on or to receive all dividends and other
                  distributions made on said shares; and

         (b)      receive any dividend in respect of the escrowed securities,
                  and any such dividend received by the Agent shall be forthwith
                  paid or transferred to the respective Shareholder entitled
                  thereto.

7.       SUBSTITUTION FOR EQUILAR SHARES HELD IN ESCROW

7.1      Any certificates representing the Equilar Shares or other securities
         resulting from any change, classification or reclassification,
         subdivision, consolidation, conversion, amalgamation, merger or sale or
         transfer of assets as particularized below shall be delivered to and
         held by the Agent in place of the Equilar Shares then held by the
         Agent, and the provisions in this Agreement shall apply to such
         resulting shares or other securities:

<PAGE>
                                      -5-

         (a)      if the Equilar Shares or any of them are changed, classified
                  or reclassified, subdivided, consolidated or converted into a
                  different number or class of shares,

         (b)      if Equilar amalgamates or merges with or into any other body
                  corporate, trust, partnership or other entity, and

         (c)      if Equilar transfers its undertaking or assets as an entirety
                  or substantially as an entirety to another person, firm or
                  corporation.

7.2      If, while this Agreement is in effect, the Shareholder advises the
         Agent that any of the Equilar Shares owned by such Shareholder and then
         held by the Agent pursuant to the terms hereof are to be exchanged
         pursuant to a merger or an offer made to all of the shareholders of
         Equilar for shares of a corporation acquiring, or proposing to acquire,
         some or all of the issued and outstanding Equilar Shares, the Agent
         shall cooperate to present the same for exchange in accordance with the
         instructions received by it from the person for whose account such
         Equilar Shares are then held, and certificates representing the
         securities so received in exchange shall then continue to be held
         subject to the provisions hereof in lieu of the Equilar Shares so sent
         for exchange.

8.       AGENT

8.1      The Agent shall not be responsible or liable in any manner for the
         sufficiency, correctness, genuineness or validity of the Equilar Shares
         or the certificates representing the same deposited with it.

8.2      The Agent shall be protected in acting upon any written notice,
         request, waiver, consent, receipt, statutory declaration or other paper
         or document furnished to it and signed by any of the parties hereto,
         not only as to its due execution, validity and effect of its
         provisions, but also as to the truth and acceptability of any
         information contained therein, which the Agent in good faith believes
         to be genuine and what it purports to be.

8.3      Except for acts of negligence or misconduct, the Agent shall not be
         liable for any act or step taken or omitted by it in good faith, or for
         any mistake of fact or law.

8.4      The Agent may consult with and obtain advice from legal counsel in the
         event of any question as to any of the provisions or duties hereunder,
         and it shall incur no liability and shall be fully protected in acting
         in good faith in accordance with opinion and instructions of such
         counsel.

8.5      The Agent shall have no duties except those which are expressly set
         forth in this Agreement, and it shall not be bound by any notice of a
         claim or demand with respect thereto, or any waiver, modification,
         amendment, termination or rescission of this Agreement, unless received
         by it in writing and signed by the proper party or parties, and if its
         duties herein are affected, unless it shall have given its prior
         consent thereto.

8.6      Equilar shall pay all proper fees of the Agent, and shall also
         reimburse the Agent for all necessary and proper disbursements made by
         the Agent under this Agreement.

<PAGE>
                                      -6-

8.7      If the Agent should wish to resign, it shall give at least six months'
         notice to Equilar which may, with the written consent of any stock
         exchange through which the shares of Equilar might then be trading, by
         writing appoint another Agent in its place, and such appointment shall
         be binding on the Shareholder, and the new Agent shall assume and be
         bound by the obligations of the Agent hereunder. Equilar shall notify
         the Shareholder in writing of any such appointment.

8.8      The Shareholder hereby agrees to and does hereby release and indemnify
         and save harmless the Agent from and against all claims, suits,
         demands, costs, damages and expenses which may be occasioned by reason
         of the Agent's compliance in good faith with the terms hereof.

9.       ARBITRATION

9.1      If any dispute between the parties to this Agreement arises hereunder,
         the parties may submit such dispute to arbitration under the
         ARBITRATION ACT (Ontario).

10.      GOVERNING LAW

10.1     This Agreement shall be deemed to be made under, and for all purposes
         shall be construed in accordance with, the laws of the Province of
         Ontario and Canada applicable therein.

11.      COUNTERPARTS

11.1     This Agreement may be executed in one or more counterparts, each of
         which shall be deemed to be an original and all of which shall be
         construed together as one and the same Agreement.

12.      SUCCESSORS AND ASSIGNS

12.1     The terms and provisions of this Agreement shall be binding upon and
         enure to the benefit of the parties hereto and their respective heirs,
         executors, administrators, successors and assigns.

13.      HEADINGS

13.1     Headings of the sections of this Agreement are inserted for convenience
         only and shall not constitute a part hereof.

         IN WITNESS WHEREOF the parties hereto have executed this Agreement on
the date indicated above.

<TABLE>
<CAPTION>
<S>                                             <C>      <C>
SIGNED, SEALED & DELIVERED                      )        EQUILAR CAPITAL CORPORATION
in the presence of:                             )
</TABLE>

<PAGE>
                                      -7-

<TABLE>
<CAPTION>
<S>                                             <C>      <C>
                                                )
                                                )
                                                )
                                                )  per:                               c/s
                                                )        ________________________________
                                                )        Mary T. Marasovic, Secretary
                                                )
                                                )
                                                )
________________________________                )        ________________________________
Witness                                         )                       GEORGE WARASH
                                                )
                                                )
                                                )
________________________________                )        ________________________________
Witness                                         )                     R. BRUCE BOYDEN
                                                )
                                                )        HERITAGE TRUST COMPANY
                                                )
                                                )
                                                )
                                                )
                                                )  per:                               c/s
                                                )        ________________________________
                                                )        Name:
                                                )        Title:
</TABLE>

<PAGE>
                                      -8-

                                  SCHEDULE "A"

<TABLE>
<CAPTION>
<S>                                        <C>
SHAREHOLDER                                SECURITIES

George Warash                              2,420,000 common shares
                                             506,000 warrants
</TABLE><PAGE>

                                                                     EXHIBIT 4.4

<PAGE>

                              EMPLOYMENT AGREEMENT

THIS AGREEMENT is made as of the 1st day of February, 2001.

B E T W E E N :

                                  ROBERT SIMONEAU, businessman, residing at 1320
                                  Pierre Cognac Street, Chamby, Quebec;

                                  (hereinafter referred to as the "Employee")

                                           - and -

                                  EQUILAR CAPITAL CORPORATION, a corporation
                                  incorporated under the laws of the Province of
                                  Ontario;

                                  (hereinafter referred to as the "Company")

WHEREAS the Employee is a shareholder of Credit Chip Corporation ("C-Chip"), all
of the shares of which are being acquired by the Company pursuant to the terms
of a Share Exchange Agreement ("SEAgreement") dated the 31st day of January,
2001;

AND WHEREAS it is a condition precedent to the completion of the SEAgreement
that all of the right, title and interest of the Employee in and to the
Intellectual Property, patents, trademarks, copyrights, etc., past, present and
future, relating to the "credit chip" (the "C-Chip Technology") be assigned to
C-Chip, which is to become a wholly owned subsidiary of the Company under the
terms of the SEAgreement;

AND WHEREAS it is a term of the SEAgreement that the Employee enter into this
Employment Agreement (the "Agreement"); and it is acknowledged by the Employee
that primary consideration for the execution and delivery of this Agreement by
the Company is the exchange of shares and warrants in the capital stock of the
Company for the Employee's shares and warrants in C-Chip, under the SEAgreement,
and the full assignment and release by the Employee of all interest in the
Intellectual Property and the C-Chip Technology;

AND WHEREAS the parties hereto desire to set out the understanding reached
between them in a written agreement;

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of the mutual
covenants and agreements herein contained, and for other good and valuable
consideration (the receipt and sufficiency whereof is hereby acknowledged), the
parties hereto hereby agree with each other as follows:

<PAGE>
                                      -2-

1.       DEFINED TERMS

Where used herein, except where the context otherwise requires, the following
terms shall have the meanings ascribed hereunder:

"AGREEMENT" means this employment agreement, and all extensions, modifications
and amendments hereto;

"BUSINESS DAY" means a day other than a Saturday, Sunday or other day on which
the principal Canadian Chartered banks are not generally open for business in
the City of Montreal;

"CONFIDENTIAL INFORMATION" includes information known or used by the Company in
connection with its activities, operation and business, including but not
limited to, any formula, design, prototype, compilation of information, data,
program, code, method, technique or process, information relating to any
product, device, equipment or machine, information about or relating to the
Company's customers (their names, addresses or requirements), the Company's
markets and marketing plans, past, present and future, information about or
relating to the Company's past, present or potential business ventures,
financial information of all kinds relating to the Company and its activities,
all Intellectual Property, inventions, ideas, and related material, but does not
include any of the foregoing which is or becomes a matter of general public
knowledge.

"DOLLARS" means the lawful money of Canada;

"EFFECTIVE DATE" means the 1st day of February, 2001;

"INTELLECTUAL PROPERTY" means all of the right, title and interest whatsoever,
whether registered or not, in and to any patents, trademarks, copyrights,
know-how, industrial design, trade mark, trade name, trade secret, logo, etc.,
or any application thereof in any part of the world;

"NOTICE" has the meaning set out in paragraph 14.

"PERIOD OF EMPLOYMENT" has the meaning set out in paragraph 3.

"PERSON" means an individual, partnership, joint venture, association,
corporation, legal person, trust, or a government or any department or agency
thereof or any other entity however designated or constituted; and

"WORK PRODUCT" has the meaning attributed to such term in paragraph 8.1.

<PAGE>
                                      -3-

2.       EMPLOYMENT

 .1  The Company hereby agrees to employ the Employee as Vice-President of the
Company, and the Employee hereby accepts such offer of employment and agrees to
serve in such capacity, subject to the reasonable direction and control of the
Board of Directors of the Company, or such other committee or Person to whom it
may have delegated such powers. The Employee agrees to perform his assigned
duties, which duties shall include all functions of a person holding such a
position.

 .2  It is agreed that the Employee shall remain based in Montreal. It is
acknowledged that there may be a substantial amount of travel, including stays
outside of the City of Montreal, required as part of the Employee's function
with the Company.

 .3  The Employee shall, during the Period of Employment, use his best efforts to
promote and advance the business and interest of the Company and shall devote
his full time and attention to the business and affairs of the Company and to
the discharge, to the best of his ability and experience, of all duties and
responsibilities reasonably required of him hereunder. In carrying out these
duties and responsibilities, the Employee shall comply with all lawful and
reasonable instructions as may be given by the Board (or the Person so
authorized by the Board).

 .4  The Employee acknowledges and agrees that the effective performance of the
Employee's duties requires the highest level of integrity and the Company's
complete confidence in the Employee's relationship with other personnel of the
Company and with all persons dealt with by the Employee in the course of
employment.

 .5  The parties acknowledge and agree that the employment relationship will be
governed by the standards and terms of the Company's policies, as they are
established from time to time, and they agree to comply with the rules,
regulations, directions and policies that have or may hereafter be established
by the Company so long as they are not inconsistent with any provisions of this
Agreement

 .6  The Employee shall not permit any conflict of interest to exist in such
manner that the best interests of the Company shall be prejudiced in any way.

3.       PERIOD OF EMPLOYMENT

This Agreement shall commence at the Effective Date and shall continue for an
indefinite period of time, subject to the termination of this Agreement pursuant
to the provisions of paragraph 9. ("Period of Employment").

<PAGE>
                                      -4-

4.       SALARY

 .1 During the Period of Employment, the Company shall pay to the Employee, an
annual salary of one hundred and twenty-four thousand, eight hundred Dollars
($124,800.00) per annum. Salary payments shall be made in accordance with the
standard policies of the Company in effect from time to time. It is the current
policy of the Company to pay salaries twice per month. All regular salary
payments to the Employee shall be net of government required remittances, as
well as agreed remittances or deductions for employee benefit or other similar
programs. The Company shall be responsible for making all such remittance
payments to the government or other authority.

 .2 The Company shall review annually the salary payable to the Employee and such
salary shall be increased annually in accordance with the Employee's performance
and with salaries payable ON THE MARKET to employees holding similar positions
and responsibilities to that held by the Employee. The foregoing shall be
subject to the Company's performance and its ability to pay.

5.       EXPENSES

In addition to salary provided to the Employee in this Agreement, the Employee
shall be entitled during the Period of Employment to:

 .1  a monthly allowance of a maximum of seven hundred Dollars ($700.00) for the
use of a motor vehicle and, in addition to such allowance, all maintenance and
operating costs relating to such motor vehicle;

 .2  the reimbursement of all reasonable business, travel and promotional
expenses incurred in the course of his employment, provided that evidence of
such expense is provided to the Company and such expenses are within the
reasonable expense polices of the Company for senior management employees; and

 .3  the use, at the expense of the Company, of a personal computer, high speed,
internet link for work at his home office and a cellular phone.

6.       PAID VACATION

The Employee shall be entitled to reasonable paid vacation, not to be less than
three (3) weeks per year, at such times, upon such terms and subject to such
conditions as may be reasonable and are consistent with the Company's vacation
policies for senior management.

<PAGE>
                                      -5-

7.       EMPLOYEE BENEFIT PROGRAMS

The Company undertakes to put into place, within twelve (12) months of the
Effective Date, the following Employee Benefit Programs and thereafter, during
the Period of Employment, the Employee shall have the right to participate in
such employee benefit programs, in accordance with their terms:

 .1  a dental, disability insurance and life insurance plan; and

 .2  a pension fund or collective registered retirement savings plan under which
the Company shall contribute an amount equal to the Employee's contribution,
subject to relevant government regulation.

8.       OWNERSHIP OF INTELLECTUAL PROPERTY

 .1  The Employee hereby expressly and irrevocably assigns, transfers and agrees
to assign and transfer to the Company all rights, including without limitation,
all rights to the Intellectual Property, in and relating to any work, computer
software, inventions, discoveries, developments, improvements and ideas (the
"Work Product") created made or designed by him during the Period of Employment,
whether alone or in conjunction with other Persons, if such Work Product results
from or arises out of any work performed by or opportunities accruing to the
Employee on behalf of the Company or arising out his work with the Company or
connected to any matter relating to any business in which the Company is
involved. Also included are all rights relating to the C-Chip Technology,
whether developed before or during the Period of Employment, by the Employee
whether assigned to C-Chip or not.

 .2  The parties agree that all Work Product shall, from its inception, be the
property of the Company and the Company shall be the owner thereof without any
further act or documentation. The Employee agrees to confirm such ownership in
writing and to execute any assignments or other documentation, as reasonably
requested by the Company from time to time.

 .3  At any time during the Period of Employment, or after the termination
hereof, the Employee shall:

         .01  sign, acknowledge and deliver, at the Company's expense, but
         without any other compensation, excepting a reasonable sum for time
         actually spent by him if he is no longer in the Company's employ, any
         working notes or other documents, including applications for
         Intellectual Property rights and for assignment of all interest related
         thereto or to the Work Product, or the C-Chip Technology, required to
         enable the Company to publish or protect the Work Product or the C-Chip
         Technology, whether by patent, or otherwise; and

         .02  give any other assurance as the Company reasonably may require
         with respect to any proceeding or litigation before any authority
         relating to the Work Product or the C-Chip Technology, at the Company's
         expense, but without any other compensation excepting a reasonable sum
         for the actual time that he devotes thereto, if he is no longer
         employed by the Company.

<PAGE>
                                      -6-

9.       TERMINATION

 .1       The Company shall have the right to terminate the employment of the
         Employee, upon written notice, without being bound to pay any indemnity
         or severance whatsoever, in the following cases:

         .01  if the Employee becomes physically or mentally disabled to an
         extent as to make him unable to perform his duties hereunder normally
         and adequately for a period of three (3) consecutive months or for a
         period of six months in any twelve month period;

         .02  in the event of the death of the Employee

         .03 in the event of fraud, theft, gross negligence or misconduct of a
         criminal or quasi criminal nature, involving matters which would
         directly affect the reputation or business and affairs of the Company,
         on the part of the Employee which would normally constitute cause for
         dismissal;

         .04  in the event the Employee takes any action which threatens the
         Company's right title or interest in the Intellectual Property or the
         C-Chip Technology; or

         .05  if the Employee fails to comply with any of the provisions of this
         Agreement and such default is not cured within thirty (30) days
         following receipt of written notice from the Company, provided that if
         such default is material and reoccurring no further notice shall be
         required.

         If the Employee's employment is terminated pursuant to the
         provisions of paragraph 9.1, the Employee shall not be entitled to
         receive any remuneration or other payment under this Agreement other
         than accrued and unpaid salary and general benefits pro-rated to the
         effective date of termination.

         If an event of default occurs, the Company shall have, in addition
         to any other remedies which the Company may have in accordance with
         this Agreement or at law, the right to enforce the provisions of
         this Agreement by way of injunction in order to enjoin any breach or
         threatened breach of any of the terms of this Agreement.

 .2  If the Company terminates the employment of the Employee for any reason
other than those set out in paragraph 9.1 above, the Company shall pay to the
Employee a one time severance of two hundred and fifty thousand Dollars
($250,000.00), in full satisfaction of all claims, for damages or otherwise,
that the Employee may have in respect of his employment by the Company or any
associated or affiliated Person. The Employee acknowledges that the notice
periods, or payment in lieu provided for herein, are fair and reasonable, given
all the circumstances.

<PAGE>
                                      -7-

10.      NON-COMPETITION

 .1  The Employee acknowledges that as Vice-President of the Company, he will
gain knowledge of, and a close working relationship with the Company's
customers, which would injure the Company if made available to a competitor or
used for competitive purposes. He further acknowledges that the execution and
delivery of this Agreement is a condition of the acquisition of all of the
shares and warrants of C-Chip by the Company under the SEAgreement, and that the
C-Chip Technology, the goodwill of C-Chip, and the ongoing Intellectual
Property, Work Product and goodwill of the Company are important elements of the
value of such securities. The Employee is a vendor of securities under the
SEAgreement.

 .2  At any time while the Employee remains in the employ of the Company, and
where his employment is terminated, then at any time during a period of twelve
(12) months following the date of such termination (unless such termination is
made without cause and the Company has failed to pay or make reasonable
provisions for the payment of the monies contemplated in paragraph 9.2), the
Employee shall not, unless with the prior written consent of the Company, either
individually or in partnership or jointly or otherwise in conjunction with any
person or persons, and whether as principal, agent, manager shareholder,
creditor, officer, director or sales representative for any person, firm,
association, organization, syndicate, company or corporation or in any other
manner whatsoever:

         (i)      carry on, or

         (ii)     advise, assist, lend money to, guarantee the debts or other
                  obligations of or permit his name or any part thereof to be
                  used or employed by any person carrying on,

         any business which is competitive with the existing or proposed
         business or interests of the Company.

 .3  The Employee acknowledges that, by reason of his employment as
Vice-President, he will have access to proprietary information relating to
strategic planning, client lists, supplier lists, specialized computer software
applications and other important proprietary information acquired by the
Company, and for this reason acknowledges and agrees that the terms of this
paragraph 10 are fair and reasonable.

11.      CONFIDENTIALITY

 .1  The Employee acknowledges that he has received and will receive Confidential
Information in the course of his employment. The Employee acknowledges that the
disclosure of such Confidential Information could be prejudicial to the Company
and contrary to its interests. Accordingly, the Employee agrees that, during the
Period of Employment and at any time thereafter, he shall keep secret and
confidential and shall not, directly or indirectly, in any manner whatsoever,
disclose, communicate or divulge to any Person, nor use for the benefit of
himself or any Person other than the Company, any Confidential Information,
except (I) information which is permitted to be disclosed by the Company (II)
information which at any time of disclosure is readily available to trade or the
public, (III) information which after disclosure becomes readily available to
the trade or the public other than through a breach of this agreement, (IV)
information which has subsequently lawfully and in good faith

<PAGE>
                                      -8-

obtained by the Employee from an independent third party without breach of this
agreement, (V) information which was in the possession of the Employee prior to
the disclosure, or (VI) information which is required to be disclosed by law or
by a valid order of a court of competent jurisdiction.

 .2  The Employee agrees that he will deliver to the Company, at any time, upon
request, all documents, files, lists, samples and other information and property
belonging to the Company or relating to the business and copies thereof in his
possession or under his control.

 .3  The Employee undertakes to keep the terms of this Agreement confidential
except where disclosure thereof is made in normal circumstances (e.g.
application for bank loan, credit card) or is required by law.

12.      NON-SOLICITATION

 .1  The Employee agrees that during the Period of Employment, and until the
first anniversary of the termination with the Company (whether by reason of the
Company terminating his employment or otherwise), he shall not directly or
indirectly:

         .01  attempt to solicit, entice away, engage or employ any person
         employed by or who contracts for the provision of services to the
         Company, or any of its subsidiaries, at the date of termination or
         during the three (3) months immediately prior to termination,

         .02  be involved in the procurement of such a person to be engaged or
         employed by any other business which competes in a material way with
         any business carried on by the Company at the date of termination, or

         .03  approach or attempt to solicit any of the sponsors, customers, or
         persons, firms or corporations that do business with the Company, or
         its subsidiaries.

13.      ENFORCEABILITY

 .1  The Employee has carefully considered the nature and extent of the
restrictive covenants set forth herein and agrees that the same are: I)
reasonable, including with respect to duration, scope of activity and
geographical area; II) are necessary to protect the legitimate interests of the
Company; and III) do not prevent him from reasonably earning his living. The
Employee hereby acknowledges that all restrictions herein contained are
reasonable and valid and all defenses to the strict enforcement of all or any
portion thereof are hereby waived. The Company may apply for or have an
injunction restraining breach or threatened breach of the covenants herein.

 .2  In the event that a court of competent jurisdiction should conclude that any
of these covenants herein contained shall be unreasonable, by reason of the
area, duration or type or scope of service covered by the said covenant, then
the said court shall have the power and duty to modify such covenant and give
effect to it in such reduced form as may be decided by such court.

<PAGE>
                                      -9-

 .3  In the event that any provision of this Agreement shall be determined to be
unenforceable, by a court of competent jurisdiction, the parties agree that the
invalidity or unenforceability of such provision shall not affect the legality,
validity or enforceability of either the Agreement, in whole, or any other
clause or provision hereof. Such provision shall be deemed to be deleted and the
Agreement, and every other provision hereof, shall remain in full force and
effect and the interpreted as if such offending provision was not included, all
necessary amendments to this Agreement to be made MUTATIS MUTANDI.

14.      NOTICE

Any notice which shall or may be given in accordance with the terms of this
Agreement shall be in writing, in the English language and hand-delivered or
mailed by prepaid registered and regular mail or by receipted facsimile. Notice
hereunder shall be addressed to the Company at its head office in Montreal and
to the Employee at his last residence address maintained in the Company's
records. Notice shall be deemed to be received by the party on the date that it
is hand-delivered or transmitted to the party (provided that if such day is not
a Business Day it shall be deemed to arrive on the next Business Day), or on the
fifth (5th) Business Day following mailing of such notice as set out above.

15.      INDEPENDENT LEGAL ADVICE

The Employee acknowledges that he has sought and obtained independent legal
advice prior to executing this Agreement.

16.      GENERAL PROVISIONS

 .1  GOVERNING LAW: This Agreement shall be governed by and construed in
accordance with the laws of the Province of Quebec and Canada and the parties
agree to attorn to the jurisdiction of the Courts therein.

 .2  ENTIRE AGREEMENT: This Agreement and the terms hereof constitute the entire
agreement between the parties and supersedes all prior, oral or written
understandings, agreements or contracts, formal or informal, between the parties
hereto with respect to the subject matter of this Agreement. No modification,
alteration or waiver of the terms of this Agreement shall be binding unless the
same shall be in writing dated subsequent to the date of this Agreement and
duly-executed by each of the parties hereto. The Agreement's execution has not
been induced by, nor do the parties rely upon or regard as material, any
representations or writings whatsoever not incorporated herein.

 .3  NON-WAIVER: Failure by the Company to enforce any provision of this
Agreement, or a waiver by the Company of the exercise of its rights upon the
occurrence of any event of default, shall not operate or be construed as a
waiver of any continuing or subsequent breach of this Agreement by the Employee.

<PAGE>
                                      -10-

 .4  NON-ASSIGNMENT: This Agreement shall be a personal services contract and, as
a consequence, not assignable, in whole in part, by the Employee without the
prior written consent of the Company, which consent may be unreasonably
withheld.

 .5  ENUREMENT: The provisions of this Agreement shall enure to the benefit of
and be binding upon the heirs, executors, administrators and personal
representatives of the Employee and the successors and assigns of the Company.

IN WITNESS WHEREOF the parties have duly executed this Agreement as of the day
and date first above written

SIGNED, SEALED AND DELIVERED in the presence of:
<TABLE>
<S>                                         <C>            <C>
                                            )
                                            )
                                            )
________________________                    )
                                            )               __________________________________________
Witness                                     )               Robert Simoneau
                                            )
                                            )
                                            )
                                            )               EQUILAR CAPITAL CORPORATION
                                            )
                                            )
                                            )               Per:_______________________________________
                                            )                                                    A.S.O.
                                            )
</TABLE>

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