EMPIRE FINANCIAL HOLDING CO
STOCK PURCHASE AGREEMENT
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<TYPE>EX-10
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<DESCRIPTION>STOCK PURCHASE AGREEMENT
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height:200%;'><b><font SIZE=2>EXHIBIT 10.1</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height:200%;'><u><b><font SIZE=2>STOCK PURCHASE AGREEMENT</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><font size=2>This Stock Purchase Agreement (this &#147;Agreement&#148;) is made as of March 8, 2005, between EFH Partners, LLC, a Delaware limited liability company (the &#147;Purchaser&#148;), and Empire Financial Holding Company, a Florida corporation (the &#147;Company&#148;).</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font SIZE=2>WHEREAS</font></b><font size=2>, the Company is authorized to issue 100,000,000 shares of common stock, par value $.01 per share (&#147;Common Stock&#148;), and 1,000,000 shares of preferred stock, par value $.01 per share (&#147;Preferred Stock&#148;); </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font SIZE=2>WHEREAS</font></b><font size=2>, prior to the closing of the transactions contemplated by this Agreement the Company will designate 7,000 shares of its Preferred Stock as Series B Convertible Preferred Stock (&#147;B Preferred Stock&#148;) and 8,000 shares of its Preferred Stock as Series C Convertible Preferred Stock (&#147;C Preferred Stock&#148;) each having the rights and designations as are set forth on Exhibit A hereto;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font SIZE=2>WHEREAS</font></b><font size=2>, the Company currently has issued and outstanding approximately 3,542,525 shares of Common Stock and 10,000 shares of Series A Preferred Stock; </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font SIZE=2>WHEREAS</font></b><font size=2>, the Company wishes to sell to the Purchaser 7,000 shares of B Preferred Stock and the Purchaser wishes to purchase 7,000 shares of B Preferred Stock, upon the terms and conditions set forth in this Agreement; and</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font SIZE=2>WHEREAS</font></b><font size=2>, the Purchaser and Empire have simultaneously herewith entered into an agreement, whereby Purchaser will at the Closing Date (as defined below) loan to Empire $250,000 (the &#147;Loan Agreement&#148;);</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font SIZE=2>NOW, THEREFORE</font></b><font size=2>, in consideration of the premises and the covenants herein contained, the parties hereto agree as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>1.</font></b></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>Purchase and Sale of B Preferred Stock and Grant of Option</font></b></u><font size=2>.</font></p> </td>
        <td  width="91">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>1.1</font></b></p> </td>
        <td width="240" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>Purchase of B Preferred Stock</font></b></u><font size=2>.</font></p> </td>
        <td  colspan="2" valign=top style='padding:6.0pt 0in 0in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>At the Closing (as defined below);  </font><b></b></p> </td> </tr>
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        <td width="48" ></td>

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        <td width="149" ></td>

        <td width="91" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;
text-indent:1in;text-align:justify;line-height:200%;'><font
size=2>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company agrees to
issue to the Purchaser 7,000 shares of its B Preferred Stock and an option, in
the form attached hereto as Exhibit B, to purchase up to 1,666,666 shares of its
Common Stock (the &#147;Company Option&#148;), and the Purchaser agrees to pay
to the Company $700,000 (the &#147;BPS Purchase Price&#148;) for such shares and
the Company Option. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;
text-indent:1in;text-align:justify;line-height:200%;'><font
size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will
deliver to the Purchaser a certificate for 7,000 shares of B Preferred Stock
registered in the name of the Purchaser (the &#147;B Certificate&#148;).
</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;
text-indent:1in;text-align:justify;line-height:200%;'><font
size=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will
deliver to the Purchaser the Company Option.
</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;
text-indent:1in;text-align:justify;line-height:200%;'><font
size=2>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Purchaser will
deliver to the Company the BPS Purchase Price by
</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in;text-align:justify;line-height:200%;'><font size=2>(i)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>paying to the Company $500,000 by certified or bank check (the &#147;Purchase Price Check&#148;); and </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in;text-align:justify;line-height:200%;'><font size=2>(ii)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>delivering to the Company for cancellation a promissory note in the principal amount of $200,000 made by the Company and payable to Turquoise Partners, LLC (the &#147;Turquoise Note&#148;).</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>1.2</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Legend</font></b></u><font size=2>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The B Certificates and all certificates representing shares of Common Stock deliverable upon conversion of the B Preferred Stock and exercise of the Company Option shall bear the following legend:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in;text-align:justify;line-height:200%;'><font size=2>THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNTIL (I) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;ACT&#148;), SHALL HAVE BECOME EFFECTIVE WITH </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>2</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in;text-align:justify;line-height:200%;'><font SIZE=2>RESPECT THERETO OR (II) RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER THE ACT OR ANY APPLICABLE STATE SECURITIES LAW IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED TRANSFER.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>2.</font></b></p> </td>
        <td width="159" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>Closing</font></b><font size=2> </font><b><font size=2>and Escrow</font></b></u><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>2.1 </font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Closing</font></b></u><font size=2>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The closing of the transactions contemplated hereby (the &#147;Closing&#148;) shall take place at the offices of Morse, Zelnick, Rose &amp; Lander, LLP, 405 Park Avenue, New York, New York 10022 at 10:00 A.M. on the second business day following the satisfaction of the last of the closing conditions set forth in Sections 7.5 and 7.6, or at such other place, date or time as shall be mutually agreed on by the Company and the Purchaser (such time and such date or such other agreed upon time and date is called the &#147;Closing Date&#148;).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>2.2</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Escrow</font></b></u><font size=2>. The Purchase Price Check, the Turquoise Note, and the director resignations contemplated in Section 5.1 shall simultaneously with the execution of this Agreement be delivered to Greenberg Traurig, LLP, 13155 Noel Road, Suite 600, Dallas, Texas 75240, to be held by Greenberg Traurig, LLP  pursuant to the terms of that certain escrow agreement, dated of even date herewith, among Kevin M. Gagne, the Gagne First Revocable Trust, the Company, the Purchaser and Greenberg Traurig, LLP (the &#147;Escrow Agreement&#148;) .</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font size=2>3.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Representations and Warranties of the Company</font></b></u><font size=2>. The Company hereby represents and warrants to the Purchaser, that:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.1</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Authority and Compliance</font></b></u><font size=2>. The Company has full power and authority to execute and deliver this Agreement, the Loan Agreement and the Escrow Agreement. The Company has taken all corporate actions, which are necessary to authorize the execution, </font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>3</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:200%;'><font size=2>delivery and performance of this Agreement, the Loan Agreement, the Escrow Agreement, the issuance of the B Preferred Stock, and the consummation of the transactions contemplated hereby and thereby. This Agreement, the Loan Agreement and the Escrow Agreement have been duly and validly executed and delivered on behalf of the Company and constitute a valid obligation of the Company, enforceable against the Company in accordance with their respective terms, except to the extent that such enforceability may be limited by applicable insolvency, bankruptcy, reorganization, arrangement or moratorium laws or similar laws affecting the enforcement of creditors&#146; rights generally and by general equity principles (whether asserted in an action at law or in equity). </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.2</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>No Breach; No Default</font></b></u><font size=2>. Neither the execution, delivery or performance of this Agreement, the Loan Agreement or the Escrow Agreement, nor the consummation of the transactions contemplated hereby and thereby by the Company, (a) conflicts with or results in any breach of, (b) constitutes a default under, (c) results in a violation of, or (d) gives any third party any right to accelerate any obligation under, any contract to which the Company is a party or by which any of its assets are bound, nor conflicts with or violates any provision of the Company&#146;s Certificate of Incorporation or Bylaws.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.3</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Filings, Consents and Approvals</font></b></u><font size=2>. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or any corporation, company, partnership, joint venture, other entity or natural person (collectively, a &#147;Person&#148;) in connection with the execution, delivery and performance by the Company of the transactions contemplated by this Agreement, the Loan Agreement or the Escrow Agreement, except for the NASD Approval and AMEX Rules Compliance (as defined below).</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>4</font></p>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

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<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.4</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Capitalization of the Company</font></b></u><font size=2>. The total authorized capital stock of the Company consists of 100,000,000 shares of Common Stock and 1,000,000 shares of Preferred Stock, of which approximately 3,542,525 shares of Common Stock and 10,000 shares of A Preferred Stock are currently issued and outstanding</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.5</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Options, Etc</font></b></u><font size=2>. Except as set forth in Schedule 3.5, the Company does not have outstanding any </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><font size=2>(a) options, warrants or other rights to purchase, acquire or convert into any shares of its capital stock or other equity securities, or </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><font size=2>(b) any other agreement or right (preemptive, contractual or otherwise) to issue or sell any such shares of its capital stock or other equity securities.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.6</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>No Restrictions on Securities</font></b></u><font size=2>. Except as may be set forth on the Exhibits to the SEC Reports (as defined below) the Company is not a party to any agreement  relating to the voting of shares of its capital stock on any matter.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.7</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>SEC Filings</font></b></u><font size=2>. The Company has filed all reports required to be filed by it under the Securities and Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), since January 1, 2003 (the foregoing being collectively referred to herein as the &#147;SEC Reports&#148;). As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Exchange Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were
made, not misleading; except as such SEC Reports may have been modified or amended by the subsequent filing of any SEC Report and except for the possible effect of any Mutual Fund </font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>5</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:200%;'><font size=2>Proceeding (as hereinafter defined). The financial statements included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Securities and Exchange Commission with respect thereto as in effect at the time of filing, except as such financial statements may have been modified or amended by the subsequent filing of any SEC Report and except for the possible effect of any Mutual Fund Proceeding. Such financial statements have been prepared in accordance with generally accepted accounting principles applied on a consistent basis during the periods involved, except as may be otherwise specified in such financial statements or the notes thereto, and fairly present in all material respects the financial position of the Company and its consolidated subsidiaries as of and for the dates thereof and the results of operations for
the periods then ended, subject, in the case of unaudited statements, to normal year-end audit adjustments, except as such financial statements may have been modified or amended by the subsequent filing of any SEC Report and except for the possible effect of any Mutual Fund Proceeding. As used in this Agreement, &#147;Mutual Fund Proceeding&#148; shall mean any action, suit, proceeding, arbitration or alternative dispute resolution mechanism, or any hearing, inquiry or investigation related to the trading of mutual fund shares by Empire financial Group, Inc., a wholly owned subsidiary of the Company (&#147;EFG&#148;), on behalf of its customers that has been commenced or may be commenced in the future by the SEC, the Attorney General of the State of New York or any other government or regulatory agency or authority. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.8</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>B Preferred Stock</font></b></u><font size=2>. The B Preferred Stock to be issued to the Purchaser as contemplated by this Agreement will upon delivery to the Purchaser be duly authorized, validly issued, fully paid and non-assessable. The Company has reserved from its duly </font></p>

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</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>6</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:200%;'><font size=2>authorized (but unissued) Common Stock 1,166,667 shares of its Common Stock for issuance upon conversion of the B Preferred Stock.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.9</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Legal Proceedings; Customer Complaints</font></b></u><font size=2>. Except as described in the SEC Reports, there are no claims, actions, suits, proceedings, arbitrations or investigations, either administrative or judicial, pending or, to the Company&#146;s actual knowledge, threatened `by, or against, the Company or any of its subsidiaries that are required to be disclosed in the SEC Reports or that specifically relating to the transactions contemplated by this Agreement, at law or in equity or otherwise, before or by any court or governmental agency or body, domestic or foreign, or before an arbitrator of any kind. The Company has previously delivered to the Purchaser a true and correct list of all written complaints received by the Company or any of its subsidiaries
from its customers with regard to the brokerage business of EFG since January 1, 2003 and the current status or disposition of such complaints.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.10</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Certain Correspondence</font></b></u><font size=2>.</font><b><font size=2> </font></b><font size=2>The Company has previously delivered to the Purchaser a true and correct copy of (a) the notice, dated July 22, 2004, received from the AMEX regarding the failure of the Company to meet the net worth requirement for continued listing and granting the Company until November 12, 2005 to comply with such minimum net worth requirement and (b) a letter dated May 24, 2004, from the SEC to EFG, advising EFG that the staff of the SEC intends to recommend that the SEC commence civil injunctive action and public administrative proceedings against EFG and certain of its former employees in connection with the trading of mutual fund shares on behalf of certain of EFG&#146;s customers
(collectively, the &#147;Correspondence&#148;). Neither the Company nor EFG has received any subsequent correspondence or other communication from the AMEX or SEC, as the case may be, that materially alters or modifies the matters described in the Correspondence.</font></p>

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</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>7</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>3.11</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font SIZE=2>NASD</font></b></u><font size=2>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=2>  </font></b><font size=2>The Company has previously provided to the Purchaser a true and correct copy of the membership agreement between EFG and the National Association of Securities Dealers, Inc. (the &#147;NASD&#148;). The Company has previously provided to the Purchaser true and correct copies of all exit letters and other material written correspondence received by EFG from the NASD since January 1, 2003.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font size=2>4.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Representations and Warranties of the Purchaser to the Company</font></b></u><font size=2>.</font><i><font size=2> </font></i><font size=2>The Purchaser hereby represents and warrants to the Company as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>4.1</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Good Standing; Authority and Compliance</font></b></u><font size=2>. The Purchaser is duly organized, validly existing and in good standing under the laws of the State of Delaware. The Purchaser has full power and authority to execute and deliver this Agreement, the Loan Agreement, the Escrow Agreement and the Company Option. This Agreement, the Loan Agreement and the Escrow Agreement have been duly and validly executed and delivered on behalf of the Purchaser and constitute (and when executed the Company Option will constitute) valid obligations of the Purchaser, enforceable against the Purchaser in accordance with their respective terms, except to the extent that such enforceability may be limited by applicable insolvency, bankruptcy, reorganization, arrangement or
moratorium laws or similar laws affecting the enforcement of creditors&#146; rights generally and by general equity principles (whether asserted in an action at law or in equity). Except for the NASD Approval, no  consent, authorization or approval of, exemption by, or filing with, any domestic governmental or administrative authority, or any court, is required to be obtained or made by the Purchaser in connection with the execution, delivery and performance of this Agreement, the Loan Agreement </font></p>

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</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>8</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:200%;'><font size=2>or the Escrow Agreement by the Purchaser or the consummation of the transactions contemplated thereby by the Purchaser.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>4.2</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>No Conflict</font></b></u><font size=2>. The performance of this Agreement, the Loan Agreement or the Escrow Agreement by the Purchaser and the consummation of the transactions contemplated hereby or thereby will not result in a breach or violation of any of the terms or provisions of, or constitute a default under (i) the Certificate of Formation or the Operating Agreement of the Purchaser or (ii) any contract or other agreement or instrument to which the Purchaser is a party.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>4.3</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Purchase for Own Account</font></b></u><font size=2>. The Purchaser is acquiring the B Preferred Stock and the Company Option for investment for the Purchaser&#146;s own account, not as a nominee or agent, and not with a view to, or for the resale in connection with, any distribution thereof. The Purchaser understands that neither the B Preferred Stock nor the Company Option has been, and will not be, registered under the Securities Act by reason of a specific exemption from the registration provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Purchaser&#146;s representations as expressed herein.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>4.4</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Restricted Securities</font></b></u><font size=2>. The Purchaser understands that the B Preferred Stock, the Company Option and any Common Stock received upon conversion of the B Preferred Stock or the exercise of the Company Option is characterized as &#147;restricted securities&#148; under the Securities Act inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under the Securities Act and applicable regulations thereunder such B Preferred Stock, Company Option and any Common Stock received upon conversion of the B Preferred Stock or the exercise of the Company Option may be resold </font></p>

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</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>9</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:200%;'><font size=2>without registration under the Securities Act only in certain limited circumstances. In this connection, the Purchaser represents that it is familiar with Rule 144 promulgated under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>4.5</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Accredited Investor Status</font></b></u><font size=2>. Each member of the Purchaser is an &#147;accredited investor&#148; within the meaning of Rule 501 of Regulation D promulgated under the Securities Act (an &#147;Accredited Investor&#148;).</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="144" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>5.</font></b></p> </td>
        <td width="96" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>Covenants</font></b></u><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>5.1</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Board of Directors</font></b></u><font size=2>. Each of Mr.&nbsp;John J. Tsucalas and Mr.&nbsp;Bradley L. Gordon will simultaneously with the execution of this Agreement deliver their respective resignations as directors of the Company, which will be effective as of the Closing Date, and the board of directors of the Company shall prior to the Closing adopt resolutions (a) to increase the number of directors of the Company constituting the entire Board from four to five persons in accordance with the Company&#146;s bylaws and (b) to elect three individuals as directors of the Company who were designated by the Purchaser and reasonably acceptable to the Company, two of whom must be independent in accordance with the AMEX regulations (the &#147;Designees&#148;), with two of
the Designees to take office simultaneously with the Closing and the third Designee to take office as soon as the Company shall have complied with the provisions of Section 14 (f) of the Securities and Exchange Act of 1934, as amended.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>5.2</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Amex Rules Compliance</font></b></u><font size=2>. The Company and the Purchaser will use all commercially reasonable efforts to comply with, or to obtain a written waiver by the AMEX of, any applicable requirement that the transactions contemplated by this Agreement, (including without limitation the issuance of shares of Common Stock to the Purchaser pursuant to the </font></p>

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</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>10</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
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        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:200%;'><font size=2>Company Option) or by the Stock Exchange Agreement (as defined below), be approved by the shareholders of the Company in order that the Common Stock shall continue to be listed on the AMEX (the &#147;AMEX Rules Compliance&#148;).</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>5.3</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>NASD Approval. </font></b></u><font size=2>The Company and the Purchaser shall each use their commercially reasonable efforts to obtain the NASD Approval (as defined below) and to cooperate with each other in such efforts and will provide to each other copies of all communications with the NASD. Without limiting the generality of the foregoing, the Company agrees that it will within 10 business days after the date of this Agreement file with the NASD any notice, form or application that may be necessary or required by the NASD in order to obtain the NASD Approval and respond to any NASD request for additional information as soon as reasonably practicable, but in no event more than 10 business days after receiving such request. In respect thereto the Purchaser shall within
5 business days of a request therefore provide to the Company any information with regard to the Purchaser, any of its members and/or the Designees as shall be required or requested by the NASD.  For purposes of this Agreement, the term &#147;NASD Approval&#148; shall mean the expiration of any applicable waiting period or the receipt of any required affirmative approval by the NASD relating to the consummation of the transactions contemplated by this Agreement, that certain Stock Exchange Agreement, dated the date hereof, by and between Kevin M. Gagne and the Gagne First Revocable Trust (collectively &#147;Gagne Parties&#148;) and the Company (the &#147;Stock Exchange Agreement&#148;) and that certain Stock Purchase and Option Agreement, dated the date hereof, by and between the Gagne Parties and the Purchaser (the &#147;Gagne/Purchaser Agreement&#148;).</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>5.4</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Conduct of Business Until Closing Date</font></b></u><font size=2>. The Company hereby agrees with the Purchaser that from and after the date hereof until the Closing Date, the Company will:</font></p>

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</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>11</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><font size=2>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;operate its business only in the usual, regular and ordinary manner, consistent with past practice;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;neither (i) amend or change its Articles of Incorporation or By-Laws; (ii) merge with or into, consolidate or otherwise combine with, or acquire all or substantially all of the stock or assets of, any other entity; (iii) sell, lease or otherwise transfer any significant part of its assets other than in the ordinary course of business consistent with past practice, nor (iv) change the character of its business;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><font size=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;neither (i) increase the number of its shares of capital stock or other equity securities issued and outstanding, except for any issuances of Common Stock in accordance with the terms of any option, warrant or convertible security currently outstanding nor (ii) grant any option, warrant, or other right to purchase or to convert any obligation into shares of its capital stock; provided however, that notwithstanding the foregoing, in addition the Company may (i) grant options to its employees, directors and consultants in accordance with its existing stock option plan, (ii) issue up to 500,000 shares of its Common Stock and (iii) issue warrants and/or shares of preferred stock to Greenberg Traurig, LLP as contemplated by that certain letter agreement, dated of even date herewith, between Greenberg Traurig, LLP and the
Company, a copy of which has been previously delivered to the Purchaser; and</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><font size=2>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;neither (i) declare, pay or make any dividend or other distribution or payment in respect of its outstanding shares of capital stock, nor (ii) purchase, redeem or otherwise acquire for consideration any shares of its capital stock.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font size=2>6.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Conditions Precedent to the Obligations of the Company</font></b></u><font size=2>.</font><i><b><font size=2> </font></b></i><font size=2>The obligations of the Company pursuant to this Agreement are subject to the satisfaction at the Closing of each of </font></p>

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</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>12</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:200%;'><font size=2>the following conditions; provided, however, that the Company may, in its sole discretion, waive any of such conditions and proceed with the transactions contemplated hereby.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>6.1</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Accuracy of Representations and Warranties</font></b></u><font size=2>. The representations and warranties of the Purchaser contained in this Agreement shall be true and correct in all material respects on and as of the Closing Date, as if made on and as of the Closing Date. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>6.2</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Performance of Agreements</font></b></u><font size=2>. The Purchaser shall have performed and complied in all material respects with all covenants, obligations and agreements to be performed or complied with by it on or before the Closing Date pursuant to this Agreement. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>6.3</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Loan Agreement</font></b></u><font size=2>.</font><b><font size=2> </font></b><font size=2>The Purchaser shall have made the Loan (as defined in the Loan Agreement) to the Company in accordance with the provisions of the Loan Agreement.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>6.4</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>AMEX Rules Compliance</font></b></u><font size=2>. The AMEX Rules Compliance shall have been obtained.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;
text-indent:1in;text-align:justify;line-height:200%;'><b><font
size=2>6.5</font></b><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font
size=2>NASD Approval</font></b></u><font size=2>. The NASD Approval shall have
been obtained.</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;
text-indent:1in;text-align:justify;line-height:200%;'><b><font
size=2>6.6</font></b><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font
size=2>Other Transactions</font></b></u><font size=2>. The transactions
contemplated by the Stock Exchange Agreement and the Gagne/Purchaser Agreement
(collectively, the &#147;Other Transactions&#148;) shall have been
consummated.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>6.7</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Order</font></b></u><font size=2>. No statute, rule, regulation, executive order, decree or injunction shall have been enacted, entered, promulgated or enforced by any court or governmental authority against the Company and be in effect that prohibits or restricts the consummation of the transactions contemplated by this Agreement or makes such consummation illegal (with the Company agreeing to use&nbsp;its commercially&nbsp;reasonable efforts to have any such prohibition lifted).</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>13</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>6.8</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Member Representation Letter</font></b></u><font size=2>. Each member of the Purchaser shall deliver to the Company a representation letter, in a form reasonably acceptable to the Company, that such member is an Accredited Investor.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font size=2>7.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Conditions Precedent to the Obligations of the Purchaser</font></b></u><font size=2>. The obligations of the Purchaser under this Agreement are subject to the satisfaction at the Closing of each of the following conditions; provided, however, that the Purchaser may, in his sole discretion, waive any of such conditions and proceed with the transactions contemplated hereby.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>7.1</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Accuracy of Representations and Warranties</font></b></u><font size=2>. The representations and warranties of the Company contained in this Agreement shall be true and correct in all material respects on and as of the Closing Date, as if made on and as of the Closing Date. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>7.2</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Performance of Agreements</font></b></u><font size=2>. The Company shall have performed and complied in all material respects with all covenants, obligations and agreements to be performed or complied with by them on or before the Closing Date pursuant to this Agreement.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>7.3</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Board of Directors</font></b></u><font size=2>. The Board of Directors shall have been reconstituted as provided in Section 5.1.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>7.4</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Registration Rights</font></b></u><font size=2>. The Company shall have executed and delivered to the Purchaser a registration rights agreement, in the form of Exhibit C annexed hereto, granting to the Purchaser certain registration rights with regard to the shares of Common Stock into which the B Preferred Stock may be converted and the shares of Common Stock to be delivered to the Purchaser upon exercise of the Company Option.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>7.5</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>AMEX Rules Compliance</font></b></u><font size=2>. The AMEX Rules Compliance shall have been obtained.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;
text-indent:1in;text-align:justify;line-height:200%;'><b><font
size=2>7.6</font></b><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font
size=2>NASD Approval</font></b></u><font size=2>. The NASD Approval shall have
been obtained.</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>14</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>7.7</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Other Transactions</font></b></u><font size=2>. The Other Transactions shall have been consummated.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>7.8</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>NASD Regulation</font></b></u><font size=2>. The Company and its subsidiaries shall at all times from and after the date hereof to the Closing Date have been in compliance with all requirements of the NASD applicable to its business, except where the failure to be in compliance has not had a material adverse effect on the business, assets or prospects of the Company and its subsidiaries, taken as a whole.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;
text-indent:1in;text-align:justify;line-height:200%;'><b><font
size=2>7.9</font></b><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font
size=2>Order</font></b></u><font size=2>. No statute, rule, regulation,
executive order, decree or injunction shall have been enacted, entered,
promulgated or enforced by any court or governmental authority against the
Purchaser and be in effect that prohibits or restricts the consummation of the
transactions contemplated by this Agreement or makes such consummation illegal
(with the Purchaser agreeing to use&nbsp;its commercially&nbsp;reasonable
efforts to have any such prohibition lifted).</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="157" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>8.</font></b></p> </td>
        <td width="109" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>Termination</font></b></u><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><font size=2>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Closing has not occurred within 120 days from the date hereof, either party may, in its sole discretion, terminate this Agreement by advising the other party in writing of its election to do so, in which event this Agreement shall immediately terminate; provided that the right to terminate this Agreement under this Section shall not be available to any party whose failure to fulfill any agreement or obligation under this Agreement has been the cause of or resulted in the failure of the Closing to occur on or before such date; and further provided that any such termination shall not relieve any party from any liability that such party may have on account of the breach by such party, prior to such termination, of any covenant or agreement made by such party herein.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>15</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, the net loss applicable to common stockholders reflected in the Consolidated Statement of Operations for the year ended December 31, 2004 set forth in the Annual Report on Form 10-K to be filed by the Company for the year ended December 31, 2004 (the &#147;2004 10-K&#148;) shall exceed $1,000,000 or the total shareholder&#146;s deficit reflected in the Consolidated Balance Sheet at December 31, 2004 set forth in the 2004 10-K shall not exceed $1,600,000, then, and in such event, the Purchaser, in its sole discretion may terminate this Agreement, at any time prior to the 16</font><sup><font size=2>th</font></sup><font size=2> day following the date on which the 2004 10-K is filed with the SEC, by advising the Company in writing of its electing to do so, in which event this Agreement shall immediately terminate.</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="203" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>9.</font></b></p> </td>
        <td width="155" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>General Provisions</font></b></u><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.1</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Survival of Representations, Warranties, Covenants, and Agreements</font></b></u><font size=2>. The representations and warranties, contained in this Agreement shall survive the Closing until June 30, 2006; and any covenants and agreements contained herein shall survive for the periods indicated therein and if no time period is indicated therein shall survive indefinitely. Notwithstanding the foregoing, the representations and warranties set forth in Sections 3.1, 4.1 and 4.3 shall survive the Closing indefinitely.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.2</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Expenses</font></b></u><font size=2>. The Company agrees to pay, promptly after demand is made, all reasonable out-of-pocket expenses incurred by the Purchaser in connection with this Agreement, including (but not limited to) the Purchaser&#146;s legal fees, plus reasonable disbursements of such counsel, not to exceed 92,500 in the aggregate.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.3</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Notices</font></b></u><font size=2>. Any notices required or permitted to be given under this Agreement shall be given in writing to each other party and shall be deemed received by a party (a)&nbsp;when personally delivered to such party at its address as set forth below or (b)&nbsp;if sent by </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>16</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:200%;'><font size=2>overnight courier, next day delivery, on the next business day following the date when given to the overnight courier service, addressed to such party as indicated below: </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>17</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="492" style='border-collapse:collapse'>
    <tr >
        <td width="240" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>If to the Company:</font></p> </td>
        <td width="252" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Empire Financial Holding Company</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>2170 West State Road 434, Suite 100</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>Longwood, Florida 32779</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>Attention: President</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2in; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="415" style='border-collapse:collapse'>
    <tr >
        <td width="240" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>With a copy to:</font></p> </td>
        <td width="175" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Greenberg Traurig, LLP</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>13155 Noel Road, Suite 600</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>Dallas, Texas 75240</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>Attention: Phillip J. Kushner, Esq.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="384" style='border-collapse:collapse'>
    <tr >
        <td width="240" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>If to the Purchaser:</font></p> </td>
        <td width="144" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>EFH Partners, LLC</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:left;'><font size=2>c/o Morse, Zelnick, Rose &amp; Lander, LLP</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:left;'><font size=2>405 Park Avenue</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:left;'><font size=2>New York, NY 10022</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:left;'><font size=2>Attention: Mr.&nbsp;Steve Rabinovici</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="495" style='border-collapse:collapse'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>With a copy to:</font></p> </td>
        <td width="255" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Morse, Zelnick, Rose &amp; Lander LLP</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>405 Park Avenue</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>New York, New York 10022</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>Attention:  George Lander, Esq.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'><font size=2>and </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>Arnold P. Kling, Esq.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>545 MadisonAvenue, 6</font><sup><font size=2>th</font></sup><font size=2> Floor</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:justify;'><font size=2>New York, NY 10022</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.4</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Counterparts</font></b></u><font size=2>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.5</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Headings</font></b></u><font size=2>.</font><b><font size=2> </font></b><font size=2>All headings are inserted for convenience of reference only and shall not affect the meaning or interpretation of any such provisions or of this Agreement, taken as an entirety. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.6</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Severability</font></b></u><font size=2>.</font><i><font size=2> </font></i><font size=2>If and to the extent that any court of competent jurisdiction holds any provision (or any part thereof) of this Agreement to be invalid or unenforceable, such holding shall in no way affect the validity of the remainder of this Agreement. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>18</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.7</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>No Negative Construction Against Drafting Party</font></b></u><font size=2>. The parties acknowledge that they are sophisticated and are represented by experienced, knowledgeable attorneys. The parties agree that the normal rules of construction to resolve ambiguities against the party whose counsel drafted this Agreement shall not be followed in the interpretation of this Agreement. Consequently, no negative inference or interpretation shall be made by a court in enforcing the provisions of this Agreement against the party whose attorney drafted this Agreement.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.8</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Changes, Waivers, Etc</font></b></u><font size=2>. Neither this Agreement nor any provision hereof may be changed, waived, discharged or terminated orally, but rather may only be changed by a statement in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought.  In addition, no change, waiver, discharge or termination may be made to this Agreement by the Company, unless approved by a vote of at least two-thirds of the &#147;independent directors&#148; of the Company. For purposes of this Agreement, an &#147;independent director&#148; shall be a person who would qualify as such under the rules therefor as promulgated by the AMEX.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.9</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Governing Law</font></b></u><font size=2>. All questions concerning the construction, validity and interpretation of this Agreement shall be governed and construed in accordance with the domestic laws of the State of Florida, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Florida or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Florida.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.10</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Binding Effects</font></b></u><font size=2>. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, legal representatives and assigns.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>19</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
    <tr >
        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.11</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Entire Agreement</font></b></u><font size=2>. This Agreement together with the other agreements and documents referred to in this Agreement, constitutes the entire agreement of the parties and supersede all prior agreements and undertakings (including, without limitation, any term sheet previously entered into by the Company with the Purchaser with respect to the subject matter hereof) both written and oral, between the parties, or any of them, with respect to the subject matter hereof.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.12</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Parties in Interest</font></b></u><font size=2>. Nothing in this Agreement, express or implied, is intended to or shall confer upon any person other than the parties hereto (and their permitted successors and assigns) any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.13</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Interest or Overdue Amounts</font></b></u><font size=2>. Any amounts due to any party hereunder if not paid when due shall thereafter bear interest at the rate of 12% per annum until paid.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:1in;text-align:justify;line-height:200%;'><b><font size=2>9.14</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><b><font size=2>Attorneys Fees and Expenses</font></b></u><font size=2>. If any action shall be brought by any of the parties hereto based upon this Agreement or any of the transactions contemplated hereby, then and in such event, the party prevailing in any such action shall be entitled to recover reasonable legal fees and expenses incurred by such party in connection with such action.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>20</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
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        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;line-height:200%;'><b><font SIZE=2>IN WITNESS WHEREOF</font></b><font size=2>, the parties hereto have duly executed this Agreement as of the day and year first above written.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:.5pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:24.0pt'><b><font SIZE=2>EMPIRE FINANCIAL HOLDING COMPANY</font></b><font size=2>, a Florida corporation</font></p>

<p style='margin-left:.5pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font
size=2>By: </font> <font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;______________________________</font></p>

<p style='margin-left:12.95pt;text-indent:.5in;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Donald A. Wojnowski Jr.</font></p>
<p style='margin-left:12.95pt;text-indent:.5in;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>President</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="372" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:12.6pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="372" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font SIZE=2>EFH PARTNERS, LLC,</font></b></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>a Delaware limited liability company</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p>
<p style='margin-left:12.6pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>

<p style='margin-left:.5pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font
size=2>By: </font> <font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;______________________________</font></p>

<p style='margin-left:12.95pt;text-indent:.5in;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Steven M. Rabinovici, Manager</font></p> </td> </tr>
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style='page-break-inside:avoid'>
        <td width="372" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:12.6pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>21</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="596" style='border-collapse:collapse'>
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        <td width="453" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Company:_______  </font></p> </td>
        <td width="143" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Purchaser:_______</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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