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<PAGE>
EXHIBIT 10.3
DESCRIPTION OF ORAL CONTRACT WITH GAREN STAGLIN
The Company and Garen Staglin, a director of the Company, have entered an oral
consulting agreement that became effective in May 2000 whereby Mr. Staglin is
paid $37,500 per month for his services in pursuing business opportunities on
behalf of the Company. Mr. Staglin is also reimbursed for reasonable travel
expenses incurred in pursuing those opportunities.
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