Document:

RECISSION  AGREEMENT made and entered into as of the th day of April, 2000,
by and among Martin F. Cardone  ("Cardone")  and Spherics  Limited  ("Spherics",
Cardone and Spherics shall be collectively known as the "Parties").

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

     WHEREAS,  the Parties are  desirous  for the  termination  of the Letter of
Intent  dated  December 8, 1999 to which  Cardone and  Spherics are parties (the
"Letter of Intent"); and

     WHEREAS,  the Parties are desirous of  releasing  each other from all legal
liability associated with the Letter of Intent.

     NOW,  THEREFORE,  in consideration of the foregoing premises and covenants,
agreements,  representations and warranties herein contained, the parties hereto
agree as follows:

     1. Transfer of the Funds.  (a) The Parties  hereby agree that no funds were
transferred  pursuant to the Letter of Intent and that the Escrow Agent does not
presently hold nor did it ever hold funds pursuant to the Letter of Intent.

     2. The Closing. The date of closing shall be when all of the conditions set
forth in this Agreement have been satisfied or waived by the respective  parties
in writing.

     3. Mutual  Releases.  All of the parties to this Agreement,  as well as any
officers,   directors,   shareholders,   agents,   successors,   assignees   and
representatives  of the  parties,  for valuable  consideration,  the receipt and
sufficiency of which is hereby acknowledged, does hereby release, remise, acquit
and forever discharge the others and all of their respective  executors,  heirs,
affiliates,  representatives,   administrators,   predecessors,  successors  and
assigns, from any and all known, unknown, matured and unmatured,  liquidated and
unliquidated, contingent and  non-contingent, actions, causes of action, claims,
demands,   damages,   costs,  suits,  debts,  dues,  sums  of  money,  accounts,
reckonings,  bills,  covenants,  contracts,  liens,  controversies,   agreement,
promises, variances, trespasses, extents and executions whatsoever, at law or in
equity  (collectively,  the  "Claims")  which the Parties had,  have or may have
arising out of or in whole or in part at any time prior to the execution of this
Agreement  related to the transaction  effected under the Letter of Intent dated
as of December 8, 1999.  The release given herein shall be and remain in effect,
as a full and  complete  release of such  Claims,  notwithstanding  discovery or
existence or any additional or

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different  claims or facts.  Provided  that nothing in this release shall act to
release  any party from any claims  which  arise as a result of a breach of this
Agreement  notwithstanding  the basis for such  claim.  THIS  RELEASE MAY NOT BE
CHANGED ORALLY.

     4. Choice of Law. This Agreement  shall be governed by, and construed with,
the laws of the State of New York,  without  giving  effect to  conflict of laws
principals  thereof,  and in any action to enforce or interpret or arising under
any of the provisions of this agreement,  the parties  expressly agree to submit
to the  jurisdiction  of any Federal or State court  sitting in New York County,
State of New York.

     5.  Escrow  Agent's  Rights  and  Duties.  (a) All of the  parties  to this
Agreement agree to indemnify Beckman,  Millman & Sanders,  LLP, the Escrow Agent
as that term is defined in the Letter of Intent for and hold it harmless against
any loss, liability, damage, claim or expense (including the reasonable fees and
disbursements  of its  attorneys)  incurred  by or  asserted  against the Escrow
Agent, arising out of or in connection with its entering into the escrow account
herein  referenced,  the  performance  of its duties  hereunder and otherwise in
respect hereof, including the costs and expenses of defending itself against any
claim or liability in the premises, except that we shall not be liable hereunder
as to matters in respect of which the Escrow Agent is  determined  to have acted
with gross  negligence or in bad faith. The Escrow Agent shall have no liability
to any of the  parties  to this  Agreement  or to any  person in  respect to any
action  taken or any failure to act in respect of this Escrow  Agreement if such
action was taken or omitted to be taken in good faith, and Escrow Agent shall be
entitled to rely in this regard on the advice of counsel.

                     [This space intentionally left blank.]

                                       -2-

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     (b) The Escrow Agent may assume that any notice or instruction  received by
it hereunder is authentic and has been duly and validly  given,  pursuant to due
authorization  by or on behalf  of the  person by which or on behalf of which it
purports to be given,  and the Escrow  Agent shall have no duty to inquire  with
respect thereto.

     IN WITNESS  WHEREOF,  the parties  hereto have hereunto set their hands and
seals as of the date first above written.

                                               MARTIN F. CARDONE

                                               /s/ Martin F. Cardone
                                               ---------------------------
                                               Martin F. Cardone

                                               SPHERICS LIMITED

                                               By: John O. Dyrud
                                                  ------------------------
                                                  Name: John O. Dyrud
                                                  Title: Corporate Counsel and
                                                         Authorized Agent

                                               As Escrow Agent:
                                               BECKMAN, MILLMAN & SANDERS, LLP

                                               By:
                                                   -----------------------
                                                  Steven A. Sanders

                                       -3-FINDER'S AGREEMENT

     This Agreement is made this 23 day of May, 2000,  between Virtual  Reality,
Inc.  ("Virtual") and Eleccom Corporation LTD. ("Eleccom") with reference to the
following facts:

     Virtual is a Nevada  corporation with its principal  offices located at 116
John Street, New York, new York 11038;

     Eleccom is an Anguillan  corporation with its principal  offices located at
Victoria House, P.O. Box 58, The Valley, Anguilla, B.W.I.;

     Virtual desires to sell 200,000,000  shares of its restricted  Common Stock
(the "Virtual Shares") to Zorro Systems Ltd., a Barbados  corporation  ("Zorro")
in exchange for 100% of the issued and  outstanding  common stock of Intellashop
Inc., a wholly owned subsidiary of Zorro (the "Intellashop Shares");

     Zorro desires to sell the Intellashop Shares to Virtual in exchange for the
Virtual Shares;

     Virtual affirms that Eleccom introduced Virtual to Zorro; and

     Virtual desires to pay to Eleccom a finder's fee for such introduction.

     THEREFORE, the following is agreed between Virtual and Eleccom:

     1. In the event that  Virtual and Zorro enter into a  definitive  agreement
for the  purchase of common stock (a  "Definitive  Stock  Purchase  Agreement"),
Virtual will pay to Zorro the  finder's  fee found in  paragraph 3 below.  In no
event shall Zorro be liable for any finder's  fee to Eleccom.  Eleccom will not,
and is not, required to take part in any such  negotiations  between Virtual and
Zorro.

     2.  Virtual  shall be under no  obligation  to pay any fee or other  monies
whatsoever  to Eleccom on account of this  Agreement  until a  Definitive  Stock
Purchase Agreement is entered into by both Virtual and Zorro.

     3. Should  Virtual  and  Eleccom  enter into a  Definitive  Stock  Purchase
Agreement,  Virtual,  shall upon the closing of the  Definitive  Stock  Purchase
Agreement  issue to Eleccom,  One Million Two Hundred  Twenty-Two  Thousand  Two
Hundred  Twenty-Two  (1,222,222)  shares of Virtual's free trading common stock,
free and clear of all  liens,  security  interests,  pledges,  charges,  claims,
options,  encumbrances  and  restrictions of any kind, at a deemed price of $.45
per share (the "Finder's Fee").

                                        1

<PAGE>

     4. Any  arrangements  made by  Eleccom  with any  other  persons  with whom
Eleccom is involved, are Eleccom's exclusive  responsibility.  Upon payment made
by Virtual,  to Eleccom of the Finder's Fee,  Eleccom will hold Virtual harmless
from and  indemnify  Virtual  against  all  claims  or  expenses  caused  by and
liabilities to any person claiming commission, fee or expense in connection with
the transaction who alleges a relationship with Eleccom.

     5.  Should  any  litigation  be  commenced   between  Eleccom  and  Virtual
concerning  this  Agreement  regarding  the  rights  and duties of either of the
parties to this Agreement, then the party prevailing in such litigation shall be
entitled,  in addition to such other  relief as may be granted,  to a reasonable
sum as and for attorneys' fees in such litigation which may be determined by the
Court in such litigation or in a separate action brought for that purpose.

     6. Notwithstanding the place where this Agreement may be executed by any of
the  parties  hereto,  the  parties  expressly  agree  that  all the  terms  and
provisions hereof shall be construed in accordance with and governed by the laws
of the State of New York,  without  giving effect to conflict of law  principles
thereof.

     7. This Agreement contains the entire agreement between Eleccom and Virtual
concerning the  introduction  of Virtual to Zorro,  and correctly sets forth the
rights and duties of each of the parties to each other concerning such matter as
of this date. Any agreement or  representation  concerning the subject matter of
this  Agreement or the duties of Eleccom in relation to Virtual not set forth in
this Agreement is null and void.

     8. This  Agreement and any  provision  hereof,  may not be waived,  changed
modified,  or discharged  orally,  but only by an agreement in writing signed by
the party  against whom  enforcement  of any waiver,  change,  modification,  or
discharge is sought.

     9.  Except  as  otherwise  expressly  provided  herein,  no  waiver  of any
covenant, condition, or provision of this Agreement shall be deemed to have been
made  unless  expressly  in writing  and signed by the party  against  whom such
waiver is charged; and (i) the failure of any party to insist in any one or more
cases upon the performance of any of the provisions,  covenants or conditions of
this Agreement or to exercise any option herein contained shall not be construed
as a waiver or relinquishment for the future of any such provisions,  covenants,
or conditions;  (ii) the acceptance of performance of anything  required by this
Agreement to be performed with knowledge of the breach or failure of a covenant,
condition,  or  provision  hereof shall not be deemed a waiver of such breach or
failure,  and no waiver by any party of one  breach by  another  party  shall be
construed as a waiver with respect to any other or subsequent breach.

     10. This Agreement contains the entire Agreement and understanding  between
the parties hereto, and supersedes all prior agreements and understandings.

     11.  This  Agreement  may  be  executed   simultaneously  in  one  or  more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

                                        2

<PAGE>

     12. All notices,  requests,  demands,  and other  communications under this
Agreement shall be in writing and shall be deemed to have duly given on the date
of service if served  personally on the party to whom notice is to be given,  or
on the third day after mailing if prepaid, and properly addressed as follows:

                  VIRTUAL REALITY, INC.

                  116 John Street - Suite 1300
                  New York, New York 10038

                  ELECCOM CORPORATION LTD.

                  Victoria House, P.O. Box 58
                  The Valley, Anguilla B.W.I.

     13. This Agreement shall inure to and be binding upon the heirs, executors,
personal representatives,  successors and assigns of each of the parties to this
Agreement.

As of the date first above written:

VIRTUAL REALITY, INC.

By: /S/ Martin F. Cardone
    -------------------------
    Name:  Martin F. Cardone
    Title: President

ELECCOM CORPORATION LTD.

By: /s/  Disa Billington
    ----------------------
    Name:  Disa Billington
    Title: Director

                                        3

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