Document:

EXHIBIT 10.22

                              EMPLOYMENT AGREEMENT

     AGREEMENT made as of May 24, 1999, between ZYGO CORPORATION, a Delaware
corporation with an office at Laurel Brook Road, Middlefield, Connecticut 06455
(the "Company"), and BRIAN J. MONTI, residing at 9 Maplecrest Court, Potomac, MD
20854, (the "Executive").

                              W I T N E S S E T H :

     WHEREAS, the Company desires that Executive be employed to serve in a
senior executive capacity with the Company, and the Executive desires to be so
employed by the Company upon the terms and conditions herein set forth.

     NOW, THEREFORE, in consideration of these premises and of the mutual
promises, representations and convents herein contained, the parties hereto
agree as follows:

     1. EMPLOYMENT.

     The Company hereby employs Executive and Executive hereby accepts such
employment, such to the terms and conditions herein set forth. Executive shall
hold the office of Vice President - Sales & Marketing.

     2. TERMS.

     The initial term of employment under this Agreement shall begin on July 1,
1999 (the "Employment Date") and shall continue for a period of (1) year from
that date, subject to prior termination in accordance with the terms hereof.
Thereafter, this Agreement shall automatically be renewed for successive one
year terms unless either party shall give the other thirty (30) days prior
written notice of its or his intent not to renew this Agreement. The initial
one-year term together with all such additional one-year period(s) of
employment, if any, are collectively referred to herein as the "term" of this
Agreement.

     3. COMPENSATION.

     As compensation for the employment services to be rendered by Executive
hereunder, including all services as an officer or director of the Company and
any of its subsidiaries, the Company agrees to pay, or cause to be paid, to
Executive, and Executive agrees to accept, payable in equal installments in
accordance with Company practice an annual salary which shall in no event be
less than $175,000 or such higher amount as the Board of Directors may determine
from time to time. In addition, Executive shall be entitled to additional
contingent compensation from time to time in accordance with the terms of the
Company's "Proposed Contingent Compensation Plan for Officers" attached as
Exhibit A or as amended, from time to time by the Compensation Committee of the
Board.

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     4. EXPENSES.

     The Company shall pay or reimburse Executive, upon presentment of suitable
vouchers, for all reasonable business and travel expenses which may be incurred
or paid by Executive in connection with his employment hereunder. Executive
shall comply with such restrictions and shall keep such records as the Company
may deem necessary to meet the requirements of the Internal Revenue Code of
1986, as amended from time to time, and regulations promulgated thereunder.

     5. AUTOMOBILE.

     The Company shall, during the term of the Executive's employment hereunder,
provide Executive with an annual allowance for an automobile in the amount of
$10,800 in lieu of any expense reimbursement for Company use of an automobile.

     6. INSURANCE AND OTHER BENEFITS.

     Executive shall be entitled to such vacations and to participate in and
receive any other benefits customarily provided by the Company (including any
profit sharing, pension, health insurance, dental coverage, AD&D and short and
long-term disability in accordance with the terms of such plans) and including
stock options, all as determined from time to time by the Board of Directors of
the Company or appropriate committee thereof. Unused annual vacations may be
carried over to the extent permitted by Company policy.

     7. STOCK OPTIONS.

     In accordance with the resolution of the Company's Amended and Restated
Non-Qualified Stock Option Plan Committee (the "Committee"), the Company and
Executive will enter into a Non-Qualified Stock Option Agreement dated the date
Executive commences employment with the Company, providing for ten (10) year
stock options to purchase 20,000 shares of the Company's Common Stock, at the
market price on the date of commencement of Employment, with 25% of the option
vesting at the end of each of the first four years. In addition, Executive may
receive additional options, from time to time, at the discretion of the
Committee. The form of Stock Option Agreement is attached hereto as Exhibit B.

     8. DUTIES.

     (a) Executive shall perform such duties and functions as the Chairman and
Chief Executive Officer, the President and Chief Operating Officer and Board of
Directors of the Company shall from time to time determine and Executive shall
comply in the performance of his duties with the policies of, and be subject to,
the direction of such officers and the Board of Directors.

     (b) Executive agrees to devote substantially all his working time,
attention and energies to the performance of the business of the Company and of
any of its subsidiaries by which he may be employed; and Executive shall not,
directly or indirectly, alone or as a member of any partnership or other
organization, or as an officer, director or employee of any other corporation,
partnership or other organization, be actively engaged in or concerned with any
other duties or pursuits which interfere with the performance of his duties
hereunder, or which, even if non-interfering, may be inimical, or contrary,

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to the best interests of the Company, except those duties or pursuits
specifically authorized by the Board of Directors.

     9. TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION.

     (a) Executive's employment hereunder may be terminated at any time upon
written notice from the Company to Executive,

          (i) upon the determination by the Board of Directors that Executive's
     performance of his duties has not been fully satisfactory for any reason
     which would not constitute justifiable cause (as hereinafter defined) upon
     five (5) days' prior to written notice to Executive; or

          (ii) immediately upon determination by the Board of Directors that
     justifiable cause exists for such termination.

     (b) Executive's employment shall terminate upon:

          (i) the death of the Executive; or

          (ii) the "disability" of Executive (as hereinafter defined pursuant to
     subsection (c) herein).

     (c) For the purpose of this Agreement, the term "disability" shall mean the
inability of Executive, due to illness, accident or any other physical or mental
incapacity, to perform his duties in a normal manner for a period of three (3)
consecutive months or for a total of six (6) month (whether or not consecutive)
in any twelve (12) month period during the term of this Agreement.

     (d) For the purposes hereof, the term "justifiable cause" shall mean and be
limited to: any willful breach by Executive of the performance of any of his
duties pursuant to this Agreement; Executive's conviction (which, through lapse
of time or otherwise, is not subject to appeal) of any crime or offense
involving money or other property of the Company or its subsidiaries or which
constitutes a felony in the jurisdiction involved; Executive's performance of
any act or his failure to act, for which if he were prosecuted and convicted, a
crime or offense involving money or property of the Company or its subsidiaries,
or which constitutes a felony in the jurisdiction involved, would have occurred;
any disclosure by Executive to any person, firm or corporation other than the
Company, its subsidiaries and its and their directors, officers and employees,
of any confidential information or trade secret of the Company or any of its
subsidiaries; any attempt by Executive to secure any personal profit in
connection with the business of the Company or any of its subsidiaries; or
engaging by Executive in any business other than the business of the Company and
its subsidiaries which interferes with the performance of his duties hereunder.

     (e) If the Executive shall die during the term of his employment hereunder,
this Agreement shall terminate immediately. In such event, the estate of
Executive shall thereupon be entitled to receive such portion of Executive's
annual salary as has been accrued through the date of his death.

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     (f) Upon Executive's "disability", the Company shall have the right to
terminate Executive's employment. Notwithstanding any inability to perform his
duties, Executive shall be entitled to receive his compensation as provided
herein until the termination of his employment for disability. Any termination
pursuant to this subsection (f) shall be effective on the date 30 days after
which Executive shall have received written notice of the Company's election to
terminate.

     (g) Notwithstanding any provision to the contrary contained herein, in the
event that Executive's employment is terminated by the Company, at any time for
any reason other than justifiable cause, disability or death, the Company shall
pay Executive's salary (payable in such amount and in such manner as set forth
in Section 3 herein) from and after the date of such termination for a period
ending six (6) months after the date of termination which amount shall be in
lieu of any and all other payments due and owing to Executive under the terms of
this Agreement; provided, however, that if such termination without justifiable
cause occurs after a "Change in Control" (as defined in subsection (h) below),
the Company shall (I) continue existing health insurance, dental coverage, AD&O
and long term disability coverage in effect for Executive at the time of
termination for a period of the lesser of six months or until covered by another
plan; and (II) continue Executive's salary for a period of six (6) months after
the date of termination, provided, however, that to the extent the Company's
benefit programs do not provide for the continuation of benefits after
termination of employment, the Company will pay to Executive the funds necessary
to obtain reasonable equivalent coverage.

     (h) A "Change in Control" shall mean the occurrence of any of the following
events:

          (i) The Company is merged with or consolidated with another
     corporation in a transaction in which (x) the Company is not the surviving
     corporation and (y) the Company's stockholders immediately prior to such
     transaction do not own at least 70% of the outstanding voting securities of
     the surviving corporation immediately following the transaction; or

          (ii) Any person or entity or affiliated group of persons or entities
     becomes the holder of more than 51% of the Company's outstanding shares of
     Common Stock (it being understood that Wesleyan University, Canon Inc. and
     Messrs. Forman, Zanoni and Laufer shall not be deemed "affiliated" for
     purposes of the provision).

     10. REPRESENTATIONS AND AGREEMENTS OF EXECUTIVE.

     (a) Executive represents and warrants that he is free to enter into this
Agreement and to perform the duties required hereunder, and that there are no
employment contracts or understandings, restrictive covenants or other
restrictions, whether written or oral, preventing the performance of his duties
hereunder. Executive further represents and warrants that he is in full
compliance with all existing agreements between himself and the Company.

     11. NON-COMPETITION.

     (a) Executive agrees that during his employment by the Company (which shall
be deemed to include the period in which Executive is receiving any severance
payments set forth in Section 9(g) hereto), and for a period of one (1) year
after the later of (i) the final severance payment, or (ii)

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termination of Executive's employment hereunder, as the case may be (the
"Non-Competitive Period"), Executive shall not, directly or indirectly, as
owner, partner, joint venturer, stockholder, employee, broker, agent, principal,
trustee, corporate officer, director, licensor, or in any capacity whatsoever
engaged in, become financially interested in, be employed by, render any
consultation or business advice with respect to, or have any connection with,
any business engaged in the research, development, testing, design, manufacture,
sale, lease, marketing, utilization or exploitation of any products or services
which are designed for the same purpose as, are similar to, or are otherwise
competitive with, products or services of the Company or any of its subsidiaries
in any geographic area where, at the time of the termination of his employment
hereunder, the business of the Company or any of its subsidiaries was being
conducted or was proposed to be conducted in any manner whatsoever; provided,
however, that Executive may own any securities of any corporation which is
engaged in such business and is publicly owned and traded but in any amount not
to exceed at any one time one percent (1%) of any class of stock or securities
of such corporation; provided, further, the foregoing provisions shall not
restrict Executive from employment with an investment bank, leveraged buy-out
firm, venture capital firm or similar entity. In addition, Executive shall not,
directly or indirectly, during the Non-Competitive Period, request or cause
contracting parties, suppliers or customers with whom the Company or any of its
subsidiaries has a business relationship to cancel or terminate any such
business relationship with the Company or any of its subsidiaries or solicit,
interfere with or entice from the Company any employee (or former employee) of
the Company.

     (b) Notwithstanding any provisions in this Section 11 hereto, if Executive
is terminated for any reason without "justifiable cause" the Non-Competitive
Period shall be a period of six months after the later of (i), the final
severance payment or (ii) termination of Executives' Employment.

     (c) If any portion of the restrictions set forth in this Section 11 should,
for any reason whatsoever, be declared invalid by a court of Competent
jurisdiction, the validity or enforceability of the remainder of such
restrictions shall not thereby be adversely affected.

     (d) Executive acknowledges that the Company conducts business on a
world-wide basis, that its sales and marketing prospects are for continued
expansion into world markets and that, therefore, the territorial and time
limitations set forth in this Section 11 are reasonable and properly required
for the adequate protection of the business of the Company and its subsidiaries.
In the event any such territorial or time limitation is deemed to be
unreasonable by a court of competent jurisdiction, Executive agrees to the
reduction of the territorial or time limitation to the area or period which such
court deems reasonable.

     12. NON-DISCLOSURE AND INVENTIONS
         AND DISCOVERIES AGREEMENT.

     Executive will execute the form of "Zygo Corporation Non-Disclosure
Agreement" in the form of Exhibit C.

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     13. RIGHT TO INJUCTION.

     Executive recognizes that the services to be rendered by him hereunder are
of a special, unique, unusual, extraordinary and intellectual character
involving skill of the highest order and giving them peculiar value the loss of
which cannot be adequately compensated for in damages. In the event of a breach
of the Agreement by Executive, the Company shall be entitled to injunctive
relief or any other legal or equitable remedies. Executive agrees that the
Company may recover by appropriate action the amount of the actual damage caused
the Company by any failure, refusal or neglect of Executive to perform his
agreements, representations and warranties herein contained. The remedies
provided in this Agreement shall be deemed cumulative and the exercise of one
shall not preclude the exercise of any other remedy at law or in equity for the
same event or any other event.

     14. AMENDMENT OR ALTERATION.

     No amendment or alteration of the terms of this Agreement shall be valid
unless made in writing and signed by both of the parties hereto.

     15. GOVERNING LAW.

     This Agreement shall be governed by the laws of the State of Connecticut
applicable to agreements made and to be performed therein.

     16. SEVERABILITY.

     The holding of any provision of this Agreement to be invalid or
unenforceable by a court of competent jurisdiction shall not affect any other
provision of this Agreement, which shall remain in full force and effect.

     17. NOTICES.

     Any notice required or permitted to be given hereunder shall be sufficient
if in writing, and if delivered by hand, or sent by certified mail, return
receipt requested to the address set forth above or such other address as either
party may from time to time designate in writing to the other, and shall be
deemed given as of the date of the delivery or mailing.

     18. WAIVER OR BREACH.

     It is agreed that a waiver by either party of a breach of any provision of
this Agreement shall not operate, or be construed, as a waiver of any subsequent
breach by that same party.

     19. ENTIRE AGREEMENT AND BINDING EFFECT.

     This Agreement contains the entire agreement of the parties with respect to
the subject matter hereof and shall be binding upon and inure to the benefit of
the parties hereto and their respective legal representatives, heirs,
distributors, successors and assigns. Notwithstanding the foregoing, all prior
agreements between Executive and the Company relating to the confidentiality of
information, trade secrets and patents shall not be affected by this Agreement.

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     20. SURVIVAL.

     The termination of Executive's employment hereunder shall not affect the
enforceability of Sections 9, 11, 12, and 13 hereof.

     21. FURTHER ASSURANCE.

     The parties agree to execute and deliver all such further documents,
agreements and instruments and take such other and further action as may be
necessary or appropriate to carry out the purposes and intent of this Agreement.
Executive represents and warrants that he is free to enter into this Agreement
and to perform the duties required hereunder, and that there are no employment
contracts or understandings, restrictive covenants or other restrictions,
whether written or oral, preventing the performance of his duties under the
Agreement.

     22. HEADINGS.

     This Section heading appearing in this Agreement are for the purposes of
easy reference and shall not be considered a part of this Agreement or in any
way modify, demand or affect its provisions.

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

ZYGO CORPORATION                                    BRIAN J. MONTI

By:    /s/ J. BRUCE ROBINSON                        By:   /s/ BRIAN J. MONTI
       ----------------------                             ----------------------

Date:  May 26, 1999                                 Date: May 24, 1999
       ----------------------                             ----------------------EMPLOYMENT AGREEMENT

                                  June 20, 2000

     The parties to this agreement are James G. Lucchesi, residing at 10 East
29th Street, New York, New York 10016 (the "Executive"), and YouthStream Media
Networks, Inc., a Delaware corporation with its principal office at 529 Fifth
Avenue, New York, New York 10017 (the "Company").

     The parties have agreed upon the employment of the Executive as its
President and Chief Executive Officer on the terms set forth in this agreement.

     It is therefore agreed as follows:

     1. Employment.

     During the term of the Executive's employment under this agreement, the
Company shall employ the Executive, and the Executive shall serve the Company,
as the Company's President and Chief Executive Officer. The Executive shall have
all of the duties, responsibilities and powers customarily associated with the
position of chief executive officer of a publicly held company, shall report to
the Company's board of directors, and shall devote substantially all his
business time to the performance of his duties under this agreement. The
Executive shall serve on the Company's board of directors.

     2. Term of Employment.

     The term of the Executive's employment under this agreement shall commence
on the date of this agreement and, subject to earlier termination upon the
Executive's death or disability pursuant to section 5.1 or pursuant to section
6, shall continue until the close of business on June 30, 2002.

     3. Compensation.

        3.1 Cash Compensation. As compensation for his services under this
agreement, the Executive shall be entitled to (a) a "sign-on bonus" in the
amount of $50,000, payable simultaneously with the execution and delivery of
this agreement, and (b) a salary at the rate of $350,000 a year, payable in
equal installments in accordance with the Company's customary payroll practices
for its employees. The Company's board of directors shall review the Executive's
performance annually (either prior to or within a reasonable period after the
end of each fiscal year) and, in its sole discretion, may grant the Executive a
bonus based on the Executive's performance during that fiscal year and may
increase the Executive's basic compensation for the following year.

<PAGE>

        3.2 Stock Options. On the date of this agreement, the Company is
granting to the Executive, pursuant to the Company's 2000 Stock Incentive Plan
(the "Plan"), in consideration of the services to be rendered by the Executive
under this agreement, the option (which shall not be an incentive stock option)
to purchase an aggregate of 300,000 shares of the Company's Common Stock at an
exercise price of $5.75 a share (the fair market value of the Company's Common
Stock on this date); in July 2000, the Company will grant to the Executive
non-incentive options to purchase an additional 300,000 shares at the fair
market value of the Company's stock on the date of grant and otherwise on the
same terms as the options granted on this date. The terms of the option are set
forth in a separate agreement that is being executed by the Company and the
Executive simultaneously with the execution of this agreement.

     4. Reimbursement of Expenses; Fringe Benefits.

        4.1 Expenses. The Company shall reimburse the Executive for all
reasonable expenses incurred by the Executive in connection with the performance
of his duties, upon presentation of appropriate vouchers covering the expenses.

        4.2 Fringe Benefits. The Executive (and his immediate family) shall be
entitled to participate in all medical, dental, disability, life insurance and
other fringe benefits and executive perquisites generally provided to the
Company's senior executives.

     5. Disability or Death.1

        5.1 Disability. If, as the result of any physical or mental disability,
the Executive shall fail or be unable to perform his duties for a total of 120
days in any 12-month period, the Company may, by notice to the Executive,
terminate his employment under this agreement as of the date of the notice.

        5.2 Payments on Disability. If the Executive's employment is terminated
under section 5.1, the Executive shall be paid, in full discharge of all the
Company's obligations to the Executive, (a) the Executive's full salary under
section 3.1 for a period of six months following the date of termination (or, if
a shorter period, the remainder of the term), less the amount of any disability
payments received by him under any disability insurance coverage provided to him
by the Company, and (b) the amount of all expense reimbursements due for periods
prior to termination. If the Executive shall request, for the six-month period
during which his salary is payable (or, if shorter, the balance of the term),
the Company shall, at the Executive's expense, keep the Executive and his
immediate family on all medical, dental and other plans previously provided to
the Executive under this agreement.

        5.3 Payments on Death. The Executive's employment under this agreement
shall be terminated upon his death and the Executive's estate shall be paid, in
full discharge of all the Company's obligations to the Executive, the
Executive's full salary under section 3 for a period of six months following the
date of termination (or, if a shorter period, the remainder of the term) and the
amount of all expense reimbursements due for periods prior to termination. If
the Executive's immediate family shall request, for that six-month period (or,
if shorter, the

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balance of the term), the Company shall, at the expense of the Executive's
immediate family, keep them on all medical, dental and other plans previously
provided to the Executive under this agreement.

     6. Termination.

        6.1 Payments Upon Termination for Cause or Voluntary Termination. The
Company may terminate the Executive's employment under this agreement for cause
(as defined in section 6.3). If the Executive's employment under this agreement
is terminated for cause pursuant to this section 6.1 or by the Executive
voluntarily (other than for Good Reason, as defined in section 6.3), the Company
shall pay to the Executive, in full discharge of its obligations to the
Executive under this agreement, the accrued amount of the salary and benefits
due to him through the date of termination and the amount of all expense
reimbursements due for periods prior to termination.

        6.2 Payments Upon Termination for Other Reasons. If the Executive's
employment under this agreement is terminated by the Company prior to the
expiration of the term for any reason other than for cause or as a result of the
Executive's death or disability, or if the Executive's employment under this
agreement is terminated by the Executive for Good Reason, (a) all of the
Executive's stock options shall then become fully vested and (b) the Company
shall continue to pay to the Executive through the remainder of the term the
salary payable pursuant to section 3.1 and shall pay to the Executive any unpaid
bonus previously authorized by the Company's board of directors. In addition,
upon the Executive's request, the Company shall, at its expense, keep the
Executive and his immediate family on all medical, dental and other plans for
the remainder of the term. None of the payments provided for in this section 6.2
shall be reduced by any amounts earned or received by the Executive from any
third party at any time. Without limiting the generality of the foregoing, if
the Executive's employment under this agreement is terminated for any reason
other than termination by the Company for cause or termination by the Executive
without Good Reason, the Executive shall not have any obligation to mitigate
damages.

     6.3 Definitions. As used in this agreement:

        (a) the term "cause" shall be limited to mean: (i) the conviction of the
Executive of a felony, (ii) the conviction of the Executive of a crime involving
any financial impropriety or that would materially interfere with the
Executive's ability to perform his services required under this agreement or
otherwise be materially injurious to the Company or (iii) the willful breach by
the Executive in a material respect of his obligations under this agreement
after ten days notice and an opportunity to cure and after a hearing before the
board; and

        (b) the term "Good Reason" shall be limited to mean the occurrence,
without the express written consent of the Executive, of any of the following
circumstances: (i) a significant adverse alteration in the Executive's status in
the Company, in the nature of the Executive's responsibilities, or in the
material conditions of the Executive's employment; (ii) a reduction by the
Company in the Executive's annual basic salary or benefits as provided for in

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this agreement; (iii) the Company requiring that the Executive be based at a
location more than 50 miles from his residence on the date of this agreement,
except for required travel on the Company's business; (iv) the Company's breach
of any of its material obligations under this agreement and the continuation of
that breach for 10 days after written notice by the Executive to the Company;
and (v) a Change in Control (as defined in section 13.2 of the Plan) of the
Company.

        6.4 Time of Payments After Termination. Any amounts payable to the
Executive or his estate after termination of his employment shall be paid
periodically in the same amounts and at the same intervals as they would have
been paid if the Executive's employment had not terminated.

     7. Confidential Information.

     The Executive shall not, directly or indirectly, either during his
employment by the Company or at any time thereafter, disclose to anyone or use
(except as authorized in the regular course of the Company's business) any
information acquired by him during his employment with respect to any of the
Company's trade secrets or other confidential information. For this purpose,
information generally known to the public shall not be considered a trade secret
or confidential information.

     8. Non-Competition, etc

        8.1 Non-Competition. For a period of one year after the termination of
the Executive's employment under this agreement, the Executive shall not
directly or indirectly engage or be interested in any business or entity that
engages, anywhere in the world, in any business competitive with any material
segment of the business in which the Company is engaged at the time of
termination of the Executive's employment or with any business activity that the
Company then has under active consideration. The restriction provided for in the
previous sentence shall apply regardless of the reason for termination of the
Executive's employment, except that it shall not apply after termination of the
Executive's employment if the Executive's employment is terminated prior to the
expiration of the two-year term due to the Executive's termination of his
employment for Good Reason or due to termination by the Company without cause.
For the purpose of this section 8.1, the Executive shall be deemed to be
directly or indirectly interested in a business or entity if he is engaged or
interested in that business or entity as a stockholder, director, officer,
employee, salesman, sales representative, agent, broker, partner, individual
proprietor, lender, consultant or otherwise, but not if his interest is limited
solely to the ownership of 5% or less of any class of the equity or debt
securities of a corporation whose shares are publicly traded.

        8.2 Non-Solicitation. The Executive shall not, for a period of 18 months
after termination of his employment (regardless of the reason for termination),
directly or indirectly employ or retain, solicit the employment or retention of,
or be associated with any entity that employs or retains or solicits the
employment or retention of, any person who was an employee of the Company or any
of its subsidiaries at any time during the twelve months preceding the

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termination of the Executive's employment. After termination of his employment,
the Executive may be associated with any entity that employs any former employee
of the Company whose employment terminated at least six months prior to
termination of the Executive's employment.

        8.3 Injunction. The Executive acknowledges that the remedy at law for
breach of the provisions of sections 8.1 or 8.2 will be inadequate and that, in
addition to any other remedy the Company may have, it shall be entitled to an
injunction restraining any breach or threatened breach, without any bond or
other security being required and without the necessity of showing actual
damages. The provisions of section 10 shall not apply with respect to this
section 8.

     9. Merger or Sale of Assets.

     If the Company shall merge or consolidate with another corporation or shall
transfer all or substantially all of its assets, this agreement shall be
assigned to the successor in the merger or consolidation or the transferee of
the assets, the Company shall cause the successor or transferee to assume all of
the Company's obligations under this agreement, and the Executive shall
thereafter be employed by the successor or transferee in accordance with the
terms of this agreement. The Company's failure to obtain such assumption prior
to the effectiveness of any such transaction shall be a breach of this agreement
by the Company.

     10. Arbitration.

     Except as otherwise provided in section 8.3, any controversy or claim
arising out of, resulting from or relating to this agreement shall be settled
exclusively by arbitration conducted in New York, New York in accordance with
the Commercial Arbitration Rules of the American Arbitration Association (or
organization which is the successor thereto). Service of process or notice of
motion or other application in connection with any arbitration may be served by
the means by which notices are to be given under this agreement, provided that a
reasonable time for appearance is allowed. Any award in such arbitration may be
enforced on application of either party by the order or judgment of any Federal
or state court in the State of New York as the party making such application
shall elect. Each of the parties submits itself to the jurisdiction of any such
court and agrees that service of process on it in any such action, suit or
proceeding may be effected by the means by which notices are to be given to it
under this agreement. The fees and expenses of any arbitration (including
attorneys and experts fees and expenses and the additional expenses of
presenting proof) shall be borne by the non-prevailing party.

     11. Miscellaneous.

         11.1 Headings. The section headings of this agreement are for reference
purposes only and are to be given no effect in the construction or
interpretation of this agreement.

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         11.2 Notices. All notices and other communications under this agreement
shall be in writing and shall be deemed given when delivered personally or
mailed by registered mail, return receipt requested, to the parties at their
respective addresses set forth above (or to such other address as a party may
have specified by notice given to the other party pursuant to this provision).

         11.3 Separability. The invalidity or unenforceability of any provision
of this agreement shall not affect the validity or enforceability of any other
provision of this agreement, which shall remain in full force and effect.

         11.4 Waiver. Either party may waive compliance by the other party with
any provision of this agreement. The failure of a party to insist on strict
adherence to any term of this agreement on any occasion shall not be considered
a waiver or deprive that party of the right thereafter to insist upon strict
adherence to that term or any other term of this agreement. No waiver of any
provision shall be construed as a waiver of any other provision. Any waiver must
be in writing.

         11.5 Assignment. Neither party may assign any of its rights or delegate
any of its duties under this agreement (other than as contemplated by section 9
of this agreement) without the prior consent of the other and any assignment or
delegation in violation of this prohibition shall be void.

         11.6 Governing Law. This agreement shall be governed by and in
accordance with the substantive law of the state of New York applicable to
agreements made and to be performed in New York.

         11.7 Entire Agreement; Nor Oral Change. This agreement and the stock
option agreement being executed and delivered simultaneously with the execution
and delivery of this agreement contain, and are intended as, a complete
statement of all the terms of the arrangements between the parties, supersede
any previous agreements and understandings between the parties, and cannot be
changed or terminated orally.

                                    YOUTHSTREAM MEDIA NETWORKS, INC.

                                    By: /s/ HARLAN PELTZ
                                        ----------------------------------

                                        /s/ JAMES G. LUCCHESI
                                        ----------------------------------
                                            James G Lucchesi

                                       6

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