Document:

Exhibit 10.2

STATE OF NORTH CAROLINA                     )
                                            )     SEVERANCE AGREEMENT
COUNTY OF WAKE                              )

         This Agreement is made this 18th day of May, 2000, by and between
KONOVER PROPERTY TRUST, INC., a Maryland corporation (the "Company"), and
WILLIAM H. NEVILLE ("Mr. Neville").

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

         WHEREAS, the Company (then known as "FAC Realty, Inc.") and Mr. Neville
entered into that certain Employment Agreement dated as of September 8, 1997
(the "Employment Agreement"); and

         WHEREAS, the Employment Agreement provides for the employment of Mr.
Neville by the Company through June 30, 2001, and Mr. Neville and the Company
have agreed that Mr. Neville will retire and the parties will terminate their
employment relationship prior to that date in an amicable and definitive manner;
and

         WHEREAS, the terms of this Severance Agreement have been approved by
the Board of Directors and Executive Compensation Committee of the Company;

         NOW, THEREFORE, for good and valuable consideration as prescribed
herein, the Company and Mr. Neville agree to termination of their employment
relationship in accordance with the terms set forth hereafter:

         1. Termination of Employment. The employment relationship between the
parties will terminate as of June 2, 2000 (the "Effective Date").

         2. Compensation Continuation. The Company will continue to pay Mr.
Neville his current base salary through the Effective Date, at intervals in
accordance with the Company's current pay practices. All amounts paid to Mr.
Neville will be subject to withholding of federal and state income and
employment taxes, in accordance with United States and North Carolina laws.
Unless otherwise determined by the Company, Mr. Neville will be entitled to no
cash compensation from the Company in addition to the sums provided in this
section and in Section 6.

         3. Stock Options. The options as to: 30,000 shares of the 50,000 shares
of the Company's common stock granted to Mr. Neville pursuant to that
Non-qualified Stock Option Agreement dated October 1, 1998 will be, and are
fully vested as of the Effective Date, and the options may be exercised in full
or in part thereafter by Mr. Neville or his estate at any time in accordance
with their terms on or before May 30, 2001. The options as to the remaining
20,000 non-vested shares shall expire on the Effective Date. The convertible
options as to: the 200,000 shares of the Company's common stock granted to Mr.
Neville pursuant to that Non-qualified Stock Option Agreement dated November 11,
1998 are not vested and shall expire on the Effective Date.

         4. Restricted Stock. The 94,600 shares of restricted stock granted to
Mr. Neville [held in the form of repurchase rights pursuant to the November 11,
1997 Individual Exchange Agreement ("Exchange Agreement")] between the Company
and Mr. Neville shall be fully vested on the Effective Date. Should Mr. Neville
elect to obtain the stock, he agrees to exercise his repurchase rights in
compliance with the Exchange Agreement.

         5. 401(K). The Company confirms that under the retirement provision of
the Company's 401(K) plan, if Mr. Neville leaves all of the funds currently in
his account in place until age 59 1/2, the

                                                                               1
<PAGE>

employer match portion of such account shall, on that date, be fully vested as
to Mr. Neville. If Mr. Neville removes funds from his account prior to age 59
1/2, the employer match portion of such account shall be 20% vested.

         6. Sale of Interest in Sunset Investment, Inc. Mr. Neville agrees to
sell his entire interest in Sunset Investment, Inc. for $10,000. The sale shall
be completed on or before the Effective Date.

         7. Arbitration. If there is a dispute under this Agreement between Mr.
Neville and the Company with respect to the subject matter and terms of this
Agreement (including the applicability of this section), either party may submit
that dispute to binding arbitration in Raleigh, North Carolina, under the rules
of the American Arbitration Association then in effect for Raleigh, North
Carolina, and pursuant to Chapter 1, Article 45A of the General Statutes of
North Carolina which applies to this provision. The decision of the
arbitrator(s) will be binding on all parties to the arbitration, and their
heirs, successors, and assigns.

         8. Entire Agreement. This Agreement contains the entire agreement
between the parties with respect to the matters dealt with herein, and no
agreements, representations, or statements of any party not contained herein
shall be binding on that party. The Employment Agreement will terminate as of
the Effective Date.

         9. Controlling Law. This Agreement is governed by and to be construed
in accordance with the laws of the State of North Carolina, as they are applied
to contracts made and to be wholly performed in this state, regardless of choice
of law principles to the contrary.

         IN WITNESS WHEREOF, the Company and Mr. Neville have executed this
Agreement under seal on the day and year first written above.

                                                                        (SEAL)
                                 --------------------------------------
                                 William H. Neville

                                 KONOVER PROPERTY TRUST, INC.

                                 By:
                                    -----------------------------------
                                     C. Cammack Morton, President & CEO

(CORPORATE SEAL)

ATTEST:

-------------------------------------
Secretary

                                                                               2<PAGE>

                                                                   EXHIBIT 10.1

              FOURTH AMENDMENT TO LINE OF CREDIT PROMISSORY NOTE
              --------------------------------------------------

     THIS FOURTH AMENDMENT (this "Amendment") is made effective as of the 18th
day of May, 2000 by and among ENVIRONMENTAL ELEMENTS CORPORATION, a Delaware
corporation ("Borrower") and MERCANTILE-SAFE DEPOSIT AND TRUST COMPANY, a
Maryland banking corporation ("Bank").

                                   RECITALS
                                   --------

     A.  The Bank previously agreed to extend credit to the Borrower pursuant to
a certain Revolving Credit and Letter of Credit Agreement dated November 24,
1993, as amended by a letter agreement dated May 26, 1994 from Nicholas C.
Richardson to Thomas B. McCord, a Second Amendment to Revolving Credit and
Letter of Credit Agreement dated October 25, 1995, a Third Amendment to
Revolving Credit and Letter of Credit Agreement dated June 12, 1998, a Fourth
Amendment to Revolving Credit and Letter of Credit Agreement dated August 31,
1999, and a Fifth Amendment to Revolving Credit and Letter of Credit Agreement
of even date herewith (collectively, the "Agreement"), in the form of a line of
credit facility in an original principal amount not to exceed Ten Million
Dollars ($10,000,000.00), which was reduced to Seven Million Dollars
($7,000,000.00), then increased to Twelve Million Dollars ($12,000,000.00), and
subsequently increased to Fifteen Million Dollars ($15,000,000.00).

     B.  The indebtedness under the Agreement is evidenced by a Line of Credit
Promissory Note dated November 24, 1993 from Borrower to Bank, as amended by a
certain First Amendment to Line of Credit Promissory Note dated October 25,
1995, certain letter agreements between the Bank and the Borrower, a certain
Second Amendment to Line of Credit Promissory Note dated June 12, 1998, and a
certain Third Amendment to Line of Credit Promissory Note dated August 31, 1999
(collectively, the "Note").

     C.  The Borrower and the Bank now wish to amend certain provisions of the
Note.

                                   WITNESSETH
                                   ----------

     NOW, THEREFORE, in consideration of the premises and the mutual covenants
set forth herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree that the
Note is hereby modified and amended as follows (the Note, as amended, is
hereinafter referred to as the "Note"):

     1.  Recitals.  The parties acknowledge and agree that the foregoing
         --------
Recitals are true and correct, and are incorporated herein by reference.

     2.  Amendments to Note.
         ------------------

         A.  The interest rate under the Note shall hereinafter be equal to the
Bank's Prime Rate, as announced from time to time, plus one-half of one (0.5)
percentage point per annum.  Notwithstanding the foregoing, at all times
hereafter that the Borrower's Tangible Net Worth (as defined in the Agreement)
is equal to or greater than Six Million Five Hundred Thousand Dollars
($6,500,000.00), the interest rate hereunder
<PAGE>

shall be reduced to a fluctuating rate equal to the Bank's Prime Rate, as
announced from time to time.

         B.  All references in the Note to the "Agreement" shall mean the
Revolving Credit and Letter of Credit Agreement, as previously amended and as
amended on even date by the Fifth Amendment to Revolving Credit and Letter of
Credit Agreement, as well as any future amendments or modifications thereof.

     3.  Effect of Amendment.  Except as heretofore and hereby modified and
         -------------------
amended, the Note shall be and remain in full force and effect.  In the event of
any conflict between the terms and provisions of the Note and this Amendment,
the terms and provisions of this Amendment shall prevail.

     4.  No Defenses; No Novation.  Borrower acknowledges and confirms that it
         ------------------------
has no right of set-off or defense of any kind or description regarding the
payment of any principal or interest under the Agreement or the Note, that it
has no claims or causes of action against the Bank, and that upon execution of
the Fifth Amendment to Revolving Credit and Letter of Credit Agreement there
shall exist no default (or any event which, with the passing of time or giving
of notice would constitute a default) under the Agreement or the Note.  This
Amendment shall not extinguish or discharge the indebtedness evidenced by the
Note, nor constitute a novation thereof.

     IN WITNESS WHEREOF, the parties hereto have caused these presents to be
executed and sealed, intending this to be a sealed instrument, as of the date
first above written.

WITNESS/ATTEST:                 ENVIRONMENTAL ELEMENTS CORPORATION

                                By: /s/                               (SEAL)
----------------------------        ----------------------------------
                                    James B. Sinclair,
                                    Vice-President and
                                    Chief Financial Officer

                                MERCANTILE-SAFE DEPOSIT AND TRUST COMPANY

                                By: /s/                               (SEAL)
----------------------------        ----------------------------------
                                    Philip G. Enstice,
                                    Senior Vice-President

                                       2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00013-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00013-of-00352.parquet"}]]