<SUBMISSION>
<ACCESSION-NUMBER>0001193125-07-055824
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20070312
<ITEMS>1.01
<ITEMS>1.02
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20070316
<DATE-OF-FILING-DATE-CHANGE>20070315
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>DEVCON INTERNATIONAL CORP
<CIK>0000028452
<ASSIGNED-SIC>3270
<IRS-NUMBER>590671992
<STATE-OF-INCORPORATION>FL
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-07152
<FILM-NUMBER>07697538
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>595 SOUTH FEDERAL HIGHWAY
<STREET2>SUITE 500
<CITY>BOCA RATON
<STATE>FL
<ZIP>33432
<PHONE>5612087207
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>595 SOUTH FEDERAL HIGHWAY
<STREET2>SUITE 500
<CITY>BOCA RATON
<STATE>FL
<ZIP>33432
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left"> <P STYLE="margin-top:3px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="5"><B>FORM 8-K </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="3"><B>Current Report </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Pursuant to Section&nbsp;13 or 15(d) of the </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Securities Exchange Act of 1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2"><B>Date of Report (date of earliest event reported) March&nbsp;12, 2007 </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="6"><B>DEVCON INTERNATIONAL CORP. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Exact
name of registrant as specified in its charter) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>Florida </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(State or other jurisdiction of incorporation) </B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>000-07152</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>59-0671992</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Commission File Number)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(IRS Employer Identification No.)</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>595 SOUTH FEDERAL HIGHWAY, SUITE 500 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>BOCA RATON, FLORIDA 33432 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Address of principal executive offices, including
Zip Code) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Registrant&#146;s telephone number, including area code&nbsp;(561) 208-7200 </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>N/A </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Former name or former address,
if changed since last report) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left">

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;1.01</B>.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Entry into a Material Definitive Agreement </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">On
March 12, 2007, Devcon International Corp., a Florida corporation (the &#147;Company&#148;), entered into an asset purchase agreement (the &#147;Asset Purchase Agreement&#148;) with Tiger Oil, Inc., a Florida corporation (&#147;Purchaser&#148;), to
sell fixed assets, inventory and customer lists constituting a majority of the assets of the Company&#146;s construction division (the &#147;Construction Division&#148;), for approximately $5.3 million, subject to certain purchase price adjustments
to be made at closing and a holdback of $525,000 to be retained for resolution of certain indemnification matters in the form of a non-negotiable promissory note bearing a term of 120 days and other terms which are commercially reasonable in
transactions of this type, size and scope. The Company will retain working capital of $6.7 million, including approximately $2.1 million in notes receivable, as of December 31, 2006. The majority of the Company&#146;s leasehold interests are being
retained by the Company with the Purchaser assuming only the Company&#146;s shop location at Southwest 10th Street, Deerfield Beach, Florida and entering into a 90-day sublease of the headquarters of the Construction Division located at 1350 East
Newport Center Drive in Deerfield Beach, Florida. In addition, the Asset Purchase Agreement contemplates that the Company will enter into a noncompetition agreement with terms that are customary for transactions of this type, size and scope. Under
the terms of the Asset Purchase Agreement, the Purchaser has obtained operational control of the Construction Division. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">As a result of
this transaction, the Company anticipates it will recognize a loss from this sale in the fourth quarter of 2006 in an amount equal to approximately $3.0 million, prior to any employee severance and other transaction-related expenses. The transaction
is scheduled to close in March 2007 and is subject to customary closing conditions. Upon execution of the Asset Purchase Agreement, Purchaser deposited into escrow $525,000 as an earnest money deposit (the &#147;Deposit&#148;).This amount is subject
to forfeiture by the Purchaser to the Company in certain events upon termination of the Asset Purchase Agreement and to return to the Purchaser in certain events upon terminationof the Asset Purchase Agreement . In addition, if the transactions
contemplated by the Asset Purchase Agreement are not completed by March 20, 2007 because the Company fails or refuses to perform its obligations under the Asset Purchase Agreement or because any representation or warranty of the Company is false as
a result of the Company&#146;s willful and wanton misconduct resulting in a material adverse change to the financial condition or results of operations of the business of the Construction Division in an amount equal to at least $50,000, the Deposit
shall be returned to Purchaser, and the Company shall be obligated to also pay to the Purchaser a breakup fee (the &#147;Breakup Fee&#148;) in an amount equal to 5% of the purchase price. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Donald L. Smith, Jr., the Company&#146;s former Chairman and Chief Executive Officer and a current director of the Company and Donald L. Smith, III, a
former officer of the Company, are principals of the Purchaser. Other than the Asset Purchase Agreement and the Company&#146;s relationship with Donald L. Smith, Jr. and Donald L. Smith, III, there is no material relationship between the Company and
the Purchase of which the Company is aware. The foregoing description of the Asset Purchase Agreement is qualified in its entirety by reference to the terms of the Asset Purchase Agreement, a copy of which is attached to this Current Report on Form
8-K as Exhibit 2.1 and is incorporated herein by reference. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">In addition, on March&nbsp;13, 2007, the Company entered into a Termination
and Release Agreement (the &#147;Termination and Release Agreement&#148;) with Donald L. Smith, Jr. under the terms of which Mr.&nbsp;Smith agreed to terminate that certain Construction Agreement (the &#147;Construction Agreement&#148;), dated as of
June&nbsp;1, 2005, concerning the construction of a residence on a parcel of property which is 50% owned by Mr.&nbsp;Smith and located within the resort complex known as Emerald Bay Resorts on the island of Exuma, and released the Company from any
past, present or future obligations under the Construction Agreement. Mr.&nbsp;Smith has agreed to indemnify the Company for all losses incured by the Company in connection with the assertion by a third party to the Construction Agreement </FONT>
</P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">whose assent to the Termination and Release Agreement was not obtained of any claim or demand against the Company to the extent such claim or demand arises
directly or indirectly from the Construction Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">The foregoing description of the Termination and Release Agreement is qualified in
its entirety by reference to the terms of the Termination and Release Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.2 and is incorporated herein by reference. </FONT></P> <P
STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;1.02</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Termination of a Material Definitive Agreement </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">On
March&nbsp;13, 2007, the Company entered into the Termination and Release Agreement with Donald L. Smith, Jr. under the terms of which Mr.&nbsp;Smith agreed to terminate the Construction Agreement, and released the Company from any past, present or
future obligations under the Construction Agreement. The foregoing description of the Termination and Release Agreement is qualified in its entirety by reference to the terms of the Termination and Release Agreement, a copy of which is attached to
this Current Report on Form 8-K as Exhibit 10.2 and is incorporated herein by reference. Mr.&nbsp;Smith has agreed to indemnify the Company for all losses incured by the Company in connection with the assertion by a third party to the Construction
Agreement whose assent to the Termination and Release Agreement was not obtained of any claim or demand against the Company to the extent such claim or demand arises directly or indirectly from the Construction Agreement. </FONT></P> <P
STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;7.01</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Regulation FD Disclosure </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">The Company is attaching
a copy of a press release, dated March&nbsp;12, 2007, announcing the Company&#146;s entry into the Asset Purchase Agreement and such press release is incorporated herein by this reference. </FONT></P> <P
STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;9.01</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibits </B></FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="94%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;2.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Asset Purchase Agreement, dated as of March&nbsp;12, 2007, by and among the Company and Purchaser (excluding schedules and exhibits, which the Company agrees to furnish supplementally to the
Commission upon request)</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">10.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Termination and Release Agreement, dated as of March 13, 2007, by and between the Company and Donald L. Smith, Jr.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">99.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Press Release dated March 12, 2007</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Limitation on Incorporation by Reference </B></FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">In accordance with general instruction B.2 of Form 8-K, the information in this report (including the exhibit) is furnished pursuant to Items 2.02 and
7.01 and shall not be deemed to be &#147;filed&#148; for the purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended or otherwise subject to liabilities of that section. This report will not be deemed an admission as to the
materiality of any information in the report that is required to be disclosed solely by Regulation FD. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>SIGNATURES </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="47%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>DEVCON INTERNATIONAL CORP.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Dated: March&nbsp;15, 2007</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Robert Farenhem</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Robert Farenhem</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR>
</TABLE>

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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>EXHIBIT INDEX </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="93%"></TD></TR>
<TR>
<TD VALIGN="bottom" STYLE="border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="1"><B>Exhibit&nbsp;No.</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT FACE="Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;2.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Asset Purchase Agreement, dated as of March 12, 2007, by and among the Company and Purchaser (excluding schedules and exhibits, which the Registrant agrees to furnish supplementally to the
Commission upon request)</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">10.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Termination and Release Agreement, dated as of March 13, 2007, by and between the Company and Donald L. Smith, Jr.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">99.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Press Release dated March 12, 2007</FONT></TD></TR>
</TABLE>
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</TEXT>
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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>dex21.htm
<DESCRIPTION>ASSET PURCHASE AGREEMENT
<TEXT>
<HTML><HEAD>
<TITLE>Asset Purchase Agreement</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 2.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>ASSET PURCHASE AGREEMENT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>T<SMALL>HIS</SMALL> A<SMALL>SSET</SMALL> P<SMALL>URCHASE</SMALL>
A<SMALL>GREEMENT</SMALL></B><SMALL></SMALL> (the &#147;Agreement&#148;) is entered into and effective as of March&nbsp;12, 2007 (&#147;Effective Date&#148;), by and between <B>T<SMALL>IGER</SMALL> O<SMALL>IL</SMALL>, I<SMALL>NC</SMALL>.</B>, a
Florida corporation (&#147;Buyer&#148;), and <B>D<SMALL>EVCON</SMALL> I<SMALL>NTERNATIONAL</SMALL> C<SMALL>ORP</SMALL>.,</B> a Florida corporation (&#147;Seller&#148;). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2"><B>R<SMALL>ECITALS</SMALL>:</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>A. </B>Seller&#146;s subsidiaries listed on Schedule &#147;A&#148; (such
subsidiaries are collectively referred to herein as the &#147;Companies&#148;) are presently engaged in the business of performing earthmoving, excavating, and filling operations, building golf courses, roads, and utility infrastructures, dredging
waterways and constructing deep-water piers and marinas, (the &#147;Business&#148;). Seller is, as of the date hereof, a holding company whose business is primarily owning the equity interests of various subsidiaries including the Companies.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>B. </B>Seller and certain other of its subsidiaries are also engaged in business and activities unrelated to the Business
(&#147;Retained Business&#148;). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>C. </B>Buyer desires to purchase from Seller, and Seller desires to sell to Buyer, all of the Business
assets owned or used by Seller and/or the Companies in the conduct of the Business, except for the Excluded Assets (as defined in Section&nbsp;1.2), for the consideration and upon the other terms and conditions set forth in this Agreement. Seller
desires to retain, and Buyer does not wish to purchase, all of the Retained Business assets owned or used by Seller in the conduct of the Retained Business. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2"><B>D. </B>Seller and Buyer acknowledge that one of Buyer&#146;s investors is on the Board of Directors of the Seller, and is the former Chairman and CEO of the Companies, all of which has been fully disclosed to the
Board of Directors of the Seller. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>A<SMALL>GREEMENT</SMALL>:</B> </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>N<SMALL>OW</SMALL>, T<SMALL>HEREFORE</SMALL>,</B> the parties hereby agree as follows: </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:6%"><FONT FACE="Times New Roman" SIZE="2"><B>1. P<SMALL>URCHASE</SMALL> A<SMALL>ND</SMALL> S<SMALL>ALE</SMALL> <SMALL>OF</SMALL> A<SMALL>SSETS</SMALL>. </B></FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.1</I></B> <B><I>Purchase and Sale.</I></B> Upon the terms and subject to the conditions of this Agreement, at the Closing on the Closing Date (as
such terms are defined in Section&nbsp;2), Seller shall, and shall cause the Companies to, sell, transfer, convey, assign and deliver to Buyer, and Buyer shall purchase and acquire from the Seller and the Companies, free and clear of all
encumbrances of any kind, all of Seller&#146;s and the Companies&#146; right, title and interest in and to the Seller&#146;s and the Companies&#146; property and assets, personal or mixed, tangible and intangible, of every kind and description,
wherever located, belonging to Seller and the Companies as of the Effective Date which are used in conducting the Business, except as set forth on Exhibit &#147;C&#148;, including, but not limited to, all of the following property and assets (the
&#147;Acquisition Assets&#148;): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(a)</I></B> <B><I>Vehicles, Equipment and Machinery.</I></B> All vehicles, equipment, machinery,
tools, supplies, spare parts, and all other tangible personal property and assets utilized in the Business, together with all duties and prepaid expenses related thereto, including those assets more particularly identified on Exhibit &#147;A&#148;,
which is attached hereto and incorporated by reference herein (the &#147;Vehicles, Equipment and Machinery&#148;). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(b) Office Property. </I></B>All furniture, fixtures, computer hardware and software, and
supplies, spare parts, and all other tangible personal property and assets utilized in the Business, including, without limitation, those identified on Exhibit &#147;A&#148; (the &#147;Office Property&#148;). </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(c) Inventories. </I></B>All inventories related to the Business, wherever located, including inventories located in or about Seller&#146;s or the
Companies&#146; facilities or job sites, or in transit to Seller&#146;s or the Companies&#146; facilities or job sites, provided that title has passed to Seller or the Companies (the &#147;Inventories&#148;). </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(d)</I></B> <B><I>Customer Lists, Data and Records.</I></B> All customer lists (the &#147;Customer Lists&#148;), operating data and records
relating to the Business, including customer records, supplier agreements, general commercial information, work in process schedules, referral sources, job status reports and records, equipment logs, operating guides and manuals, copies of
financial, accounting and personnel records, correspondence and other similar documents and records (the &#147;Data and Records&#148;). Following the Effective Date, Buyer will provide Seller access to the Data and Records for Seller&#146;s business
purposes subject to the Non-Competition Agreements (hereinafter defined). </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(e)</I></B> <B><I>Contracts.</I></B> All the interest
(including all rights, benefits, duties and obligations) that Seller and the Companies possess and have the right to transfer in the contracts, identified in Exhibit &#147;B&#148;, which is attached hereto and incorporated by reference herein (the
&#147;Contracts&#148;), provided, however, that (i)&nbsp;Buyer shall not assume any contracts not listed on Exhibit &#147;B&#148;, or any liabilities of the Seller or the Companies related to the Contracts which were incurred prior to the Effective
Date, provided that Buyer shall assume only the obligation to complete such Contracts on and after the Effective Date, and (ii)&nbsp;Seller shall be entitled to receive payments for work completed prior to Feb. 28, 2007 and for reimbursements of
costs incurred for the benefit of Buyer thereafter. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(f)</I></B> <B><I>Governmental Authorizations.</I></B> All governmental
authorizations owned, held or utilized by Seller or the Companies in connection with the ownership of the Acquisition Assets and the operation of the Business, and all pending applications therefor, in each case to the extent transferable to Buyer.
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(g)</I></B> <B><I>Goodwill.</I></B> The going concern value and goodwill of the Business (the &#147;Goodwill&#148;). </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(h) Name. </I></B>All rights to use the name &#147;Devcon Construction&#148; and all derivatives thereof in all jurisdictions outside of the
continental United States; provided that Buyer may also use such name, on a nonexclusive basis, on any facility that is subject to the Real Estate Leases. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(i)</I></B> <B><I>Other Assets.</I></B> Other properties and assets of every kind, character or
description, tangible or intangible, owned by the Seller or the Companies used or held for use in connection with the Business, with the exception of the Excluded Assets (&#147;Other Assets&#148;). </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.2</I></B> <B><I>Excluded Assets.</I></B> All assets of the Seller and the Companies not related to the Business are specifically excluded from
this Agreement. Notwithstanding the foregoing, there shall also be excluded from the Acquisition Assets, those assets described on Exhibit &#147;C&#148; (collectively, the &#147;Excluded Assets&#148;). </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.3</I></B> <B><I>No Assumed Liabilities; Indemnification.</I></B> Except for forward obligations set forth in the Contracts Buyer is assuming
pursuant to Section&nbsp;1.1(e), Buyer shall not assume, and Seller shall remain solely responsible for, and shall retain, pay, perform and discharge, any and all liabilities of Seller and the Companies (the &#147;Retained Liabilities&#148;). Within
one week after Closing, a portion of the Purchase Price shall be used to repay all debt obligations of the Seller and/or the Companies related to the Business (if any), so that all Acquisition Assets are delivered to Buyer free and clear of all
liens, claims and encumbrances. Seller hereby agrees to indemnify and hold Buyer harmless from any and all loss or additional expense, including attorney&#146;s fees, resulting from its failure to provide for such debt obligations of the Business or
any Retained Liability. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.4</I></B> <B><I>Purchase Price; Earnest Money Deposit.</I></B> The purchase price for the Acquisition
Assets (&#147;Purchase Price&#148;) shall be $5,250,000.00, which shall be paid to Seller as follows: (a)&nbsp;deposit by Buyer of the sum of $525,000.00 (&#147;Earnest Money&#148;) on the Effective Date with the undersigned escrow agent
(&#147;Escrow Agent&#148;) who shall release and apply all escrowed amounts solely in accordance with joint written instructions that are executed and delivered to the Escrow Agent from time to time by each of Seller and Buyer; (b)&nbsp;at Closing,
the delivery by Buyer of immediately available funds in the amount of $4,200,000.00 (less other adjustments as provided in this Agreement), by certified check or wire transfer in immediately available funds to an account designated by Seller; and
(c)&nbsp;execution and delivery at Closing of Buyer&#146;s non-negotiable promissory note payable one hundred twenty (120)&nbsp;days from Closing to Seller in the principal amount of $525,000.00 (the &#147;Note&#148;), said Note to be in
commercially reasonable form as agreed upon by Buyer and Seller. The Buyer&#146;s obligations of payment under the Note shall be subject to the Buyer&#146;s right of set-off in accordance with Section&nbsp;9 of this Agreement. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.5</I></B> <B><I>Dredge Repairs.</I></B> Immediately upon the execution of this Agreement and payment of the Earnest Money, Buyer and Seller shall
execute and deliver to the Escrow Agent joint written instructions instructing the Escrow Agent to pay all liabilities and/or other obligations related to the repairs to dredge 1 (which obligations are acknowledged to be Seller&#146;s), with all
remaining amounts of Earnest Money being held to be paid to Seller at Closing. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.6</I></B> Non-Competition Agreements. At or prior
to the Closing, the Seller and the Companies shall execute non-competition and confidentiality agreements related to the Business in commercially reasonable form as approved by Buyer (the &#147;Non-Competition Agreements&#148;). </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%;padding-bottom:3px;line-height:95%; vertical-align:top"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.7 Real Estate Leases.</I></B> At or prior to the Closing, the Buyer shall enter into or
assume lease agreements or sublease agreements for a 90 day period for the office location at the Newport Center, Deerfield Beach, Florida and for the remaining term for the shop location at Southwest 10</FONT><FONT FACE="Times New Roman" SIZE="1"
COLOR="#000000"><SUP>th</SUP></FONT><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"> Street, Deerfield Beach, Florida, in commercially reasonable form as approved by Buyer (the &#147;Real Estate Leases&#148;). </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.8 Allocation of Purchase Price. </I></B>The Purchase Price shall be allocated among the
Acquisition Assets as specified in Exhibit &#147;D&#148;. After the Closing, the parties agree to make consistent use of the allocation, fair market values and useful lives specified in Exhibit &#147;D&#148;. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.9</I></B> <B><I>Operation of Business prior to Closing; Indemnification. </I></B>On the Effective Date, Buyer, or Buyer&#146;s assignee, shall
assume performance of the Contracts and management of other operations of the Business to be transferred pursuant to this Agreement. Until Closing, Buyer shall manage such operations out of the Deerfield Beach location set forth in Section&nbsp;1.7
consistent with the manner and level of care with which such operations were managed previously by Seller during the twelve (12)&nbsp;months prior to the date hereof. Possession of the Acquisition Assets shall be given to Buyer on the Effective Date
and Seller shall cooperate to ensure a smooth transition to Buyer. During the period from the Effective Date through the Closing, the Buyer shall consult with the Seller and obtain Seller&#146;s concurrence on Business decisions which could be
reasonably expected to result in a material adverse change to the Business, and the relationship between Buyer and Seller shall be as independent contractor. Buyer shall indemnify and hold Seller harmless for any damages, losses, and claims incurred
by Seller and caused by Buyer following the Effective Date. During the period from the Effective Date through Closing, Buyer and Seller will jointly evaluate the costs to complete the Contracts and the prior work performed by Seller and the
Companies, and will adjust the Purchase Price by mutual agreement if necessary. All liabilities for work performed: 1) prior to the Effective Date shall be the responsibility of Seller; and 2) after the Effective Date shall be the responsibility of
Buyer. Retentions will be prorated by the Seller and the Buyer in proportion to the work completed. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.10</I></B> <B><I>Allocation of
Contract Revenue and Costs.</I></B> The WIP Schedule (as defined in Section&nbsp;3.5) will be jointly updated to reflect the value of the jobs as of February&nbsp;28, 2007. All job costs incurred by Seller prior to February&nbsp;28, 2007 shall be
the obligation of Seller and all job costs incurred following that date shall be the obligation of the Buyer. Similarly, the value of work performed and unpaid prior to February&nbsp;28, 2007 is to be paid to the Seller and the value of work
following February&nbsp;28, 2007 is to be paid to the Buyer. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>1.11</I></B> <B><I>Accounts Receivable.</I></B> The Seller shall retain
all accounts receivable and notes, provided, however, that the Buyer and Seller may mutually agree that the Buyer handle collection thereof. The mechanism and compensation to Buyer shall be established prior to Closing. If payments have been made to
the Seller or the Companies in excess of the value of the work performed by Seller or the Companies prior to the Effective Date, the Seller will reimburse the Buyer accordingly. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>2. C<SMALL>LOSING</SMALL>.</B> Consummation of the purchase and sale of the Acquisition Assets as contemplated in this Agreement (the
&#147;Closing&#148;) shall take place on or before March&nbsp;20, 2007, or on such other date and at such place as the parties may mutually agree (the &#147;Closing Date&#148;). </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>3. R<SMALL>EPRESENTATIONS</SMALL> <SMALL>AND</SMALL> <SMALL>WARRANTIES</SMALL> <SMALL>OF</SMALL> <SMALL>SELLER</SMALL>.</B> Seller and the Companies
hereby represent and warrant to Buyer as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>3.1</I></B> <B><I>Authority</I></B>. The Seller is a corporation duly incorporated
and existing under the laws of the State of Florida, and the Companies are duly organized, validly existing and in good standing under the laws of the jurisdictions listed on Schedule &#147;A&#148;, and all are authorized to transact business
therein. Seller has full power and authority to enter into this Agreement, and Seller and the Companies have full power and authority to perform the transactions contemplated by this Agreement. Seller&#146;s and the Companies&#146; execution,
delivery and performance of, and the consummation of the transactions contemplated by, this Agreement have been duly authorized by Seller&#146;s board of directors and by the Companies&#146; board of directors and shareholders. This Agreement
constitutes the legal, valid, and binding obligation of Seller, enforceable in accordance with its terms. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>3.2</I></B> <B><I>Title to Acquisition Assets</I></B>. Seller and/or the Companies have good and
marketable title to all of the Acquisition Assets which are fully paid for as of the Closing and will transfer the same to Buyer at the Closing, free and clear of all liens, pledges, security interests and encumbrances. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>3.3</I></B> <B><I>Compliance with Law</I></B>. To the best of Seller&#146;s and the Companies&#146; knowledge, Seller and the Companies are in
compliance in all material respects with all applicable laws, rules, and regulations of the city, county, state and federal government applicable to the Business. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
FACE="Times New Roman" SIZE="2"><B><I>3.4</I></B> <B><I>Contracts. </I></B>Seller has furnished to Buyer a true and complete copy of each written Contract listed on Exhibit &#147;B&#148;. To the knowledge of Seller, each such Contract is legal,
valid, binding, enforceable and in force and effect in all material respects. No party to any such Contract is in material breach or default. All of the Contracts are assignable by Seller and/or the Companies to Buyer. In the event that a Contract
is not assignable, a subcontract will be issued. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>3.5 Work in Process Schedule. </I></B>Seller has delivered to Buyer a work in
process schedule of existing jobs related to the Business (the &#147;WIP Schedule&#148;). The WIP Schedule represents Seller&#146;s management&#146;s evaluation of the status of the work performed to date and the financial position of the Contracts,
including all unsigned change orders, and the results of performance and operations of the Seller and the Companies regarding the Contracts as of December&nbsp;31, 2006 and for the periods referred to in the WIP Schedule. The WIP Schedule has been
prepared in accordance with industry standards. The parties shall mutually update the WIP Schedule as of February&nbsp;28, 2007. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2"><B><I>3.6</I></B> <B><I>Permits and Licenses Necessary to Business. </I></B>Seller and the Companies have all required and proper material permits and licenses, including franchises, titles (including motor vehicle titles and current
registrations), and any other similar documents constituting a material entitlement or otherwise material to the operation of the Business (collectively, &#147;Permits&#148;), and Seller and the Companies are a party to all other material contracts
and agreements necessary to permit them to carry on the Business and the Contracts as presently conducted. <B><I> </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>3.7</I></B>
<B><I>Customer Lists, Data and Records. </I></B>The Customer Lists, Data and Records consisting of customer lists, customer records, supplier agreements, work in process schedules, referral sources, job status reports and records, equipment logs,
operating guides and manuals and personnel records are true and complete in all material respects. <B><I> </I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>3.8</I></B> <B><I>Inventory. </I></B>The Inventory will be maintained in the normal course of
business by Seller and the Companies from December&nbsp;31, 2006 through the Effective Date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>3.9</I></B> <B><I>Accuracy of
Exhibits.</I></B> Seller has delivered to Buyer a list of the Acquisition Assets which has been attached hereto as Exhibit &#147;A&#148;. As of the Effective Date, the quantity and the quality of the Acquisition Assets will be substantially similar
to, or greater than, that maintained by Seller and the Companies on December&nbsp;31, 2006. If any asset identified on the December&nbsp;31, 2006 asset list was sold or otherwise transferred or disposed of by the Seller or the Companies between
December&nbsp;31, 2006 and the Effective Date, Seller shall remit to Buyer the proceeds or other consideration received for the asset so sold, transferred or disposed, provided that the total value of the assets that were sold or disposed of were in
the amount of at least $50,000.00 in the aggregate. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>3.10</I></B> <B><I>Completeness of Statement; Effect of Representations and
Warranties</I></B>. To the best of Seller&#146;s and the Companies&#146; knowledge, Seller and the Companies have disclosed to Buyer all material adverse facts known to it relating to these representations and warranties. The representations and
warranties of Seller and the Companies are true and complete in all material respects. To the best of Seller&#146;s and the Companies&#146; knowledge, no representation or warranty of Seller and the Companies contains any untrue statement of a
material fact, omits any material fact necessary to make such representation or warranty, under the circumstances which it was made, not misleading, or contains any misstatement of a material fact. The representations and warranties contained in
this Section&nbsp;3 of the Agreement shall survive for a period of two (2)&nbsp;years after the Closing of the sale of the Acquisition Assets. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2"><B><I>3.11</I></B> <B><I>No Representations.</I></B> Notwithstanding anything set forth herein to the contrary, Seller makes no representations with respect to any matter of which Donald L. Smith, Jr. had actual knowledge prior to the date
hereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>4.</B> <B>R<SMALL>EPRESENTATIONS</SMALL> A<SMALL>ND</SMALL> W<SMALL>ARRANTIES</SMALL> O<SMALL>F</SMALL>
B<SMALL>UYER</SMALL></B><SMALL></SMALL>. Buyer hereby represents and warrants to Seller as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>4.1</I></B> Authority. Buyer is a
corporation duly organized and existing under the laws of the State of Florida and is authorized to transact business therein. Buyer has full power and authority to enter into, deliver and perform this Agreement. Buyer&#146;s execution, delivery and
performance of, and the consummation of the transactions contemplated by, this Agreement have been duly authorized by Buyer&#146;s board of directors and shareholders. This Agreement constitutes the legal, valid, and binding obligation of Buyer,
enforceable in accordance with its terms. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>4.2</I></B> <B><I>Encumbrances. </I></B>Buyer represents and warrants that the funds it
uses to pay the Purchase Price are not the subject of an Internal Revenue Service lien or a lien of any other taxing authority. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2"><B><I>4.3</I></B> <B><I>Condition of Assets.</I></B> Buyer acknowledges that it is purchasing the assets listed on Exhibit &#147;A&#148; &#147;As Is Where Is&#148;, with no warranties or representation as to condition. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">6 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>5. C<SMALL>OVENANTS</SMALL> O<SMALL>F</SMALL> T<SMALL>HE</SMALL> P<SMALL>ARTIES</SMALL>.
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>5.1 Transition of the Acquisition Assets; Accounting Support</I></B>. Seller covenants with Buyer to cooperate with Buyer to
effect the smooth delivery of the Acquisition Assets from Seller to Buyer on the Effective Date including the retention and performance of the Contracts and the customers of the Business by such means as Buyer may reasonably request, including, but
not limited to, providing full and complete access to records, data, personnel, project and construction financial records, equipment records and site inspections. Seller is to provide accounting support, at cost, for up to ninety (90)&nbsp;days
from the Effective Date. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>5.2 Further Assurances</I></B>. Each of the parties agrees that it will at any time, and from time to time,
after the Closing Date, upon the reasonable request and at the expense of the appropriate party, do, execute, acknowledge and deliver, or will cause to be done, executed, acknowledged and delivered, all such further acts, assignments, transfers,
conveyances and assurances as may be required to complete the transactions contemplated herein. After the Closing Date, at the expense of Seller, Seller shall use its best efforts to cause any necessary third party to execute such documents and do
such acts and things as Buyer may reasonably require for the purpose of giving to Buyer the full benefit of all the provisions of this Agreement and as may be reasonably required to complete the transactions contemplated herein. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>5.3 Payment of Taxes, Fees and Costs</I></B>. Seller and Buyer shall bear equally all taxes, fees and costs due on the sale and transfer to Buyer of
the Acquisition Assets contemplated by this Agreement to the extent Buyer&#146;s obligations under this Section&nbsp;5.3 do not exceed $25,000, at which point Seller shall be obligated to bear all amounts in excess of such $25,000 threshold.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>6</B>. <B>C<SMALL>ONDITIONS</SMALL> P<SMALL>RECEDENT</SMALL> T<SMALL>O</SMALL> B<SMALL>UYER</SMALL>&#146;<SMALL>S</SMALL>
O<SMALL>BLIGATION</SMALL> T<SMALL>O</SMALL> C<SMALL>LOSE</SMALL></B><SMALL></SMALL>. Buyer&#146;s obligation to consummate the transactions contemplated herein, and to take the actions required to be taken by Buyer at the Closing, is subject to the
satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Buyer, in whole or in part): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2"><B><I>6.1</I></B> <B><I>Accuracy of Representations</I></B>. All of the representations and warranties of Seller and the Companies in this Agreement (considered collectively), and each of such representations and warranties (considered
individually), must have been accurate in all material respects as of the Effective Date, and must be accurate in all material respects as of the Closing Date as if made on the Closing Date. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>6.2</I></B> <B><I>Seller Performance</I></B>. All of the covenants and obligations that Seller and the Companies are required to perform or to
comply with pursuant to this Agreement at or prior to the Closing (considered collectively), and each of these covenants and obligations (considered individually), must have been duly performed and complied with in all material respects. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>6.3</I></B> <B><I>Other Documents</I></B>. Buyer must have received such other documents as it may reasonably request for the purposes of
(a)&nbsp;evidencing the accuracy of any of the representations and warranties of Seller and the Companies; (b)&nbsp;evidencing the performance by Seller and the Companies of, or the compliance by Seller and the Companies with, any covenant or
obligation required to be performed or complied with by them; (c)&nbsp;evidencing the satisfaction of any condition referred to in this Section&nbsp;6; or (d)&nbsp;otherwise facilitating the consummation or performance of any of the transactions
contemplated herein. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">7 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>6.4</I></B> <B><I>No Prohibition.</I></B> Neither the consummation nor the performance of any of
the transactions contemplated herein will, directly or indirectly (with or without notice or lapse of time), materially contravene or conflict with, or result in a material violation of, or cause Buyer or any person or entity affiliated with Buyer
to suffer any material adverse consequence under, (a)&nbsp;any applicable legal requirement or order; or (b)&nbsp;any legal requirement or order that has been published, introduced or otherwise proposed by or before any governmental body.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>6.5</I></B> <B><I>Noncompetition Agreement.</I></B> The Seller and the Companies shall each execute and deliver to the Buyer the
Noncompetition Agreements referred to in Section&nbsp;1.6. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>6.6</I></B> <B><I>Physical Inventory. </I></B>The Buyer shall have
conducted, immediately prior to Closing, a physical inventory of all Inventories and of the assets listed on Exhibit &#147;A&#148;, and shall have satisfied itself, that there is no material adverse change in the quality and quantity of the
Inventory and of the assets listed on Exhibit &#147;A&#148; to be transferred pursuant to this Agreement. It is expressly agreed that for purposes of this Agreement, the term &#147;material adverse change&#148; shall mean in the aggregate, change
which results in a loss of at least $50,000.00. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>7. T<SMALL>ERMINATION</SMALL>.</B> </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>7.1</I></B> <B><I>Termination Events.</I></B> This Agreement, by notice given prior to or at the Closing, may be terminated: </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(a)</I></B> by either Buyer or Seller if a breach of any provision of this Agreement has been committed by the other party and such breach has not
been waived; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(b)</I></B> (1)&nbsp;by Buyer if any of the conditions in Section&nbsp;6 have not been satisfied as of the Closing Date
or if satisfaction of such a condition is or becomes impossible (other than through the failure of Buyer to comply with its obligations under this Agreement) and Buyer has not waived such condition on or before the Closing Date; or (2)&nbsp;by
Seller, if any of the conditions in this Agreement have not been satisfied as of the Closing Date or if satisfaction of such a condition is or becomes impossible (other than through the failure of Seller to comply with its obligations under this
Agreement) and Buyer has not waived such condition on or before the Closing Date; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(c)</I></B> by either Buyer or Seller if the
Closing does not occur by April&nbsp;1, 2007; or </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(d)</I></B> by mutual consent of Buyer and Seller. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>7.2</I></B> <B><I>Effect of Termination.</I></B> Each party&#146;s right of termination under Section&nbsp;7 is in addition to any other rights it
may have under this Agreement or otherwise, and the exercise of a right of termination will not be an election of remedies. If this Agreement is terminated pursuant to Section&nbsp;7.1, all further obligations of the parties under this Agreement
will terminate, except that the obligation in Section&nbsp;10.3 will survive. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">8 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>8.</B> <B>D<SMALL>ELIVERIES</SMALL> <SMALL>AND</SMALL> A<SMALL>CTIONS</SMALL> T<SMALL>O</SMALL>
B<SMALL>E</SMALL> T<SMALL>AKEN</SMALL> A<SMALL>T</SMALL> C<SMALL>LOSING</SMALL></B><SMALL></SMALL>. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>8.1</I></B><B><I> Deliveries by
Seller</I></B>. At the Closing, Seller shall deliver to Buyer (duly executed where appropriate): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(a)</I></B> resolutions of the
Board of Directors of Seller and the Board of Directors and Shareholders of each of the Companies, which shall be in full force and effect as of the Effective Date, authorizing the execution and delivery of this Agreement and consummation of the
transactions contemplated herein; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(b)</I></B> a bill of sale for the Acquisition Assets in form reasonably acceptable to Buyer and
Seller executed by Seller and the Companies; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(c)</I></B> an Assignment and Assumption Agreement (the &#147;Assignment and Assumption
Agreement&#148;) for the assignment and assumption of the Contracts or, in lieu thereof, subcontracting agreements (the &#147;Subcontracting Agreements&#148;) in form reasonably acceptable to Buyer and Seller executed by Seller and the Companies;
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(d)</I></B> Noncompetition Agreements executed by Seller and the Companies; </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(e)</I></B> title documents for the Vehicles, Equipment and Machinery; </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(f)</I></B> the Real Estate Leases executed by the applicable Landlord or Sublandlord, as the case may be; </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(g) </I></B>such other documents as may be reasonably necessary to effect the closing of the transactions contemplated in this Agreement.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>8.2</I></B> <B><I>Deliveries by Buyer</I></B>. At the Closing, Buyer shall deliver to Seller (duly executed where appropriate):
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(a)</I></B> payment of the Purchase Price and delivery of the Note; </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(b)</I></B> resolutions of the Board of Directors and President of Seller, which shall be in full force and effect as of the Closing Date,
authorizing the execution and delivery of this Agreement and consummation of the transactions contemplated herein; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(c) </I></B>the
Real Estate Leases executed by Buyer; </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(d)</I></B> the Noncompetition Agreements executed by Buyer; and </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(e)</I></B> the Assignment and Assumption Agreement and Subcontracting Agreements executed by Buyer. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>9.</B> <B>S<SMALL>URVIVAL</SMALL>; I<SMALL>NDEMNIFICATION</SMALL>; S<SMALL>ET</SMALL>-O<SMALL>FF</SMALL>; R<SMALL>EMEDIES</SMALL></B><SMALL></SMALL>.
All representations, warranties, covenants and obligations in this Agreement, the Exhibits, and any other certificate or document delivered pursuant to this Agreement, shall survive the Closing for a period equal to two (2)&nbsp;years. Seller and
Buyer mutually agree to indemnify and hold each other harmless from any and all loss or additional expenses resulting from any misrepresentation or breach of warranty made herein including, but not by way of limitation, </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">9 </FONT></P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">the expense of legal fees that may be incurred because of such misrepresentation or breach. In the case Buyer pursues and subsequently obtains a judicial
determination from a court of competent jurisdiction of a breach by Seller of its representations, warranties, covenants or obligations it is required to perform or to comply with under this Agreement, Buyer shall have the right, in addition to any
other actions permitted by law, to set-off the amount of any such loss or expense against any unpaid Purchase Price still due hereunder or pursuant to the Note. The remedies provided for in this Section&nbsp;9 of the Agreement, including
Buyer&#146;s right of set-off against any unpaid installment of the Purchase Price, shall not be exclusive of, or limit, any other remedies that may be available to Buyer or Seller and all of the same shall survive the closing hereof. </FONT></P> <P
STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>10. M<SMALL>ISCELLANEOUS</SMALL> P<SMALL>ROVISIONS</SMALL>. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
FACE="Times New Roman" SIZE="2"><B><I>10.1 Amendment; Waiver.</I></B> This Agreement, and any exhibits hereto, may be amended, modified or superseded only by a written instrument signed by all of the parties to this Agreement. No party shall be
deemed to have waived compliance by another party of any provision of this Agreement unless such waiver is contained in a written instrument signed by the waiving party and no waiver that may be given by a party will be applicable except in the
specific instance for which it is given. The failure of any party to enforce at any time any of the provisions of this Agreement or to exercise any right or option contained in this Agreement or to require at any time performance of any of the
provisions of this Agreement, by any of the other parties shall not be construed to be a waiver of such provisions and shall not affect the validity of this Agreement or any of its provisions or the right of such party thereafter to enforce each
provision of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.2 Limited Assignment; Binding Effect.</I></B> No party shall assign any of its rights or obligations
under this Agreement, whether by operation of law or otherwise, without obtaining the prior consent of the other parties to this Agreement, except that the Buyer may assign any of its rights and obligations under this Agreement without the prior
consent of the Seller to any controlled affiliate of the Buyer. Subject to the foregoing, all of the provisions of this Agreement shall be binding upon and shall inure to the benefit of and be enforceable by the parties to this Agreement and their
respective heirs, legal representatives, successors and assigns. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.3 Confidentiality of Agreement.</I></B> Unless otherwise
required by law upon advice of such party&#146;s legal counsel, no party shall disclose either the terms or existence of this Agreement to any person other than a party&#146;s counsel and its other representatives or such other third parties with
whom it must communicate to consummate the transactions described in this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.4 Construction and Interpretation of
Agreement.</I></B> Section titles or captions in this Agreement are included for purposes of convenience only and shall not be considered a part of the Agreement in construing or interpreting any of its provisions. All references in this Agreement
to Sections shall refer to Sections of this Agreement unless the context clearly otherwise requires. The word &#147;including&#148; shall mean including but not limited to, and any list of items that may follow such word shall not be deemed to
represent a complete list of the contents of the referent of the subject. The parties do not intend that this Agreement shall confer on any third party any right, remedy or benefit or that any third party shall have any right to enforce any
provision of this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">10 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.5 Counterparts.</I></B> This Agreement may be executed in one or more counterparts, including
facsimile copies thereof, each of which shall be deemed to be an original copy of this Agreement and all of which, when taken together, shall be deemed to constitute one and the same agreement. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.6 Entire Agreement.</I></B> This Agreement, together with its exhibits hereto, embodies the entire agreement and understanding of the parties
related to its subject matter and supersedes all prior proposals, understandings, agreements, correspondence, arrangements and contemporaneous oral agreements relating to subject matter of this Agreement. No representation, promise, inducement or
statement of intention has been made by any party which has not been embodied in this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.7 Exhibits.</I></B> All exhibits
to this Agreement shall constitute part of this Agreement and shall be deemed to be incorporated in this Agreement by reference and made a part of this Agreement as if set out in full at the point where first mentioned. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.8 Expenses.</I></B> Except as otherwise expressly provided for in this Agreement, each party will bear its own expenses incurred in connection
with the preparation, execution and performance of its obligations under this Agreement, including all fees and expenses of agents, representatives, counsel, accountants and attorneys. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.9 Further Assurances.</I></B> Each party shall execute and deliver such additional documents or take such additional actions as may be requested
by another party to this Agreement if such requested document or action is reasonably necessary to effect the transactions described in this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
FACE="Times New Roman" SIZE="2"><B><I>10.10 Governing Law.</I></B> This Agreement shall be governed by, and shall be construed and enforced in accordance with, the laws of the State of Florida, without giving effect to any conflict of law rule or
principle of such state. Jurisdiction and venue shall be proper in any court of competent jurisdiction within the State of Florida with respect to any claims by Seller against Buyer for failure to pay all or any portion of the Purchase Price or the
Note. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.11 No Third Party Beneficiaries.</I></B> This Agreement is not intended to, and shall not be construed to, confer upon any
third person any right, remedy or benefit nor is it intended to be enforceable by any third person, and shall only be enforceable by the parties hereto, and their respective successors, permitted assigns, heirs and personal representatives.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.12 Notices.</I></B> All notices, requests, consents, approvals, waivers, demands and other communications required or permitted
to be given or made under this Agreement shall be in writing and shall be deemed delivered to the parties on the (a)&nbsp;date of personal delivery or confirmed transmission by facsimile transmission; (b)&nbsp;date of delivery to a nationally
recognized overnight courier service; or (c)&nbsp;date of deposit in the United States Mail, postage prepaid, by certified mail, in each case, addressed as follows, or to such other address, person or entity as any party may designate by notice to
the others in accordance herewith: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

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<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="43%"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2">If&nbsp;to&nbsp;Buyer:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Tiger Oil, Inc.</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">P.O. Box 971045</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Boca Raton, FL 33497-1045</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT FACE="Times New Roman" SIZE="2">Attention: Donald L. Smith,
Jr.</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2">With&nbsp;a&nbsp;copy to:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Greenebaum Doll &amp; McDonald PLLC</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">50 E. RiverCenter
Blvd., Suite 1800</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Covington, Kentucky 41011</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT FACE="Times New Roman" SIZE="2">Attention: Gregory
S. Shumate</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2">If to Seller:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Devcon International Corp.</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">595 South Federal
Highway</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Suite 500</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Boca Raton, FL 33432</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:1px"><FONT FACE="Times New Roman" SIZE="2">Attention: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2">With a copy to:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Greenberg Traurig, P.A.</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">1221 Brickell Avenue</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Miami, Florida 33131</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT FACE="Times New Roman" SIZE="2">Attention: Robert Grossman, Esq.</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">11 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.13 Recovery of Expenses by Prevailing Party.</I></B> The party prevailing in any civil action,
arbitration or other proceeding shall be entitled to recover from the nonprevailing party, in addition to any damages the prevailing party may have been awarded, all reasonable expenses that the prevailing party may have incurred in connection with
such proceeding, including accounting fees, attorneys&#146; fees and expert witnesses&#146; fees. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.14 Severability of
Provisions.</I></B> If a court in any proceeding holds any provision of this Agreement or its application to any person or circumstance invalid, illegal or unenforceable, the remainder of this Agreement, or the application of such provision to
persons or circumstances other than those to which it was held to be invalid, illegal or unenforceable, shall not be affected and shall be valid, legal and enforceable to the fullest extent permitted by law, but only if and to the extent such
enforcement would not materially and adversely frustrate the parties&#146; essential objectives as expressed in this Agreement. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties intend that the court add to
this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be valid and enforceable, so as to effect the original intent of the parties to the greatest extent possible. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B><I>10.15 Time of Essence.</I></B> Time is of the essence to the performance of the obligations set forth in this Agreement. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>11.</B> <B>E<SMALL>ARNEST</SMALL> M<SMALL>ONEY</SMALL>; D<SMALL>EFAULT</SMALL>; B<SMALL>REAKUP</SMALL> F<SMALL>EE</SMALL>. </B>The Earnest Money shall
be held by Escrow Agent and Buyer and Seller shall execute and deliver joint written instructions to the Escrow Agent and the Escrow Agent shall comply with such joint written instruction to disburse the Earnest Money as follows: </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(a)</I></B> Immediately upon receipt of the Earnest Money, the Earnest Money shall be used to pay the debt associated with the repairs to the
dredge as provided in Section&nbsp;1.5 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">12 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(b)</I></B> If the purchase and sale of the Assets is consummated, the Earnest Money (including
the amount used to pay for the dredge repairs) shall be credited against the Purchase Price at the Closing. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(c)</I></B> If Buyer
elects to terminate this Agreement and Seller and the Companies have not satisfied all of the conditions precedent described in this Agreement, the Earnest Money shall be refunded to Buyer. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2"><B><I>(d)</I></B> If the purchase and sale of the Assets is not consummated because (i)&nbsp;Seller&#146;s failure or refusal to perform Seller&#146;s
obligations hereunder, or (ii)&nbsp;any representations and warranties of Seller set forth herein are false as a result of Seller&#146;s willful and wanton misconduct and the falsity of such representation or warranty results in a material adverse
change (defined solely for purposes of this Section&nbsp;11(d) as a change in an amount equal to $50,000) in the financial condition or results of operations of the Business, the Earnest Money shall be returned to Buyer, and the Seller shall pay to
Buyer a breakup fee (the &#147;Breakup Fee&#148;) of 5% of the Purchase Price, unless Seller has terminated this Agreement pursuant to Section&nbsp;7.1(a) or (b)(2). Buyer shall also have the right to bring an action against Seller for specific
performance, provided, however, that if Buyer brings an action for specific performance, then Buyer is not entitled to receive the Breakup Fee. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman"
SIZE="2"><B><I>(e)</I></B> If the purchase and sale of the Assets is not consummated because of Buyer&#146;s failure or refusal to perform its obligations hereunder, Buyer shall forfeit the Earnest Money to Seller as liquidated damages, which shall
be Seller&#146;s sole and exclusive remedy. Provided, however, that if Buyer terminates this Agreement pursuant to Section&nbsp;7.1(a) or (b)(1) that the Earnest Money shall be returned to Buyer. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>I<SMALL>N</SMALL> W<SMALL>ITNESS</SMALL> W<SMALL>HEREOF</SMALL></B><SMALL></SMALL>, the parties have entered into this Agreement as of the date first
written above. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2"><B>T<SMALL>IGER</SMALL> O<SMALL>IL</SMALL>, I<SMALL>NC</SMALL>.</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">a Florida corporation</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Donald L. Smith, Jr.</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">Vice President</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">(&#147;Buyer&#148;)</FONT></P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2"><B>D<SMALL>EVCON</SMALL> I<SMALL>NTERNATIONAL</SMALL> C<SMALL>ORP</SMALL>.,</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">a Florida corporation</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Richard Rochon</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">Acting Chief Executive Officer</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">(&#147;Seller&#148;)</FONT></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">13 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

<DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>G<SMALL>REENEBAUM</SMALL> D<SMALL>OLL</SMALL> &amp; M<SMALL>C</SMALL>D<SMALL>ONALD</SMALL> PLLC</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Gregory S. Shumate</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">Member</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2">(&#147;Escrow Agent&#148;)</FONT></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">14 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The following schedules and exhibits have been omitted. The Company agrees to furnish supplementally to the Commission
such schedules and exhibits upon request. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="87%"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Schedule&nbsp;A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">&#150;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">List of the Companies and their jurisdictions of incorporation</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Schedule&nbsp;3.5</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">&#150;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">WIP Schedule</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Exhibit A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">&#150;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Acquired Assets</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Exhibit B</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">&#150;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Assumed Contracts</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Exhibit C</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">&#150;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Excluded Assets</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Exhibit D</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">&#150;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Allocation of Purchase Price</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">15 </FONT></P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>dex101.htm
<DESCRIPTION>TERMINATION AND RELEASE AGREEMENT
<TEXT>
<HTML><HEAD>
<TITLE>Termination and Release Agreement</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B><U>TERMINATION AND RELEASE AGREEMENT </U></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>THIS TERMINATION AND RELEASE AGREEMENT</B> (this
&#147;<U>Agreement</U>&#148;) is dated as of March&nbsp;13, 2007 by and among Devcon International Corp., a Florida corporation and Devcon Construction and Development Corp. (collectively, the &#147;<U>Company</U>&#148;) and DSMS, Ltd. And Donald L.
Smith, Jr. (collectively &#147;<U>Smith</U>&#148;). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>WHEREAS</B>, the Company, Smith and the King&#146;s Foundation, Ltd. (the
&#147;<U>Foundation</U>&#148;) are parties to that certain Construction Agreement, dated as of June&nbsp;1, 2005, concerning the construction of a residence on a parcel of property which is 50% owned by Smith and located within the resort complex
known as Emerald Bay Resorts on the island of Exuma, Bahamas (the &#147;<U>Lot 22 Construction Agreement</U>&#148;); and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>WHEREAS</B>,
the Company and Smith desire to terminate the Lot 22 Construction Agreement as of the date hereof and release the Company from any past, present or future obligations as more fully set forth herein, notwithstanding any further contractual
obligations that may or may not be owed to the Foundation thereunder; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>NOW THEREFORE</B>, in consideration of the premises, the
mutual promises of the parties hereto and the mutual benefits to be gained by the performance thereof, and other good and valuable consideration, the receipt, adequacy and legal sufficiency of which are hereby acknowledged, the parties hereto agree
as follows: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Section 1. <U>Termination of Lot 22 Construction Agreement</U>. The Company and Smith do hereby mutually agree to terminate the
Lot 22 Construction Agreement as of the date hereof. The parties agree that the provisions of the Lot 22 Construction Agreement and any and all agreements, instruments, certificates or other documents entered into at any time between the Company and
Smith concerning the Lot 22 Construction Agreement, except this Agreement, are hereby deemed rescinded, terminated and voided <U>ad initio</U> and shall be of no further force and effect for any purpose whatsoever and the transactions, arrangements
and relationships set forth therein shall be deemed rescinded and terminated and of no force and effect such that the Company and Smith shall not have any obligation to perform any services for or make any payments to each other. </FONT></P> <P
STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Section 2. <U>Mutual Releases</U>. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(a)
Except with respect to obligations owed under this Agreement, the Company on behalf of itself and its subsidiaries and affiliates and their respective associates, stockholders, representatives, successors, assigns, employees, attorneys, advisors and
agents (collectively, the &#147;<U>Devcon Releasing Parties</U>&#148;), for good and sufficient consideration, the receipt of which is acknowledged, release absolutely and forever discharge Smith and his respective predecessors, successors, assigns,
parents, stockholders, subsidiaries, divisions and affiliates, and each of their respective former, current and future officers, directors, owners, managers, employees, partners, associates, representatives, stockholders, attorneys, advisors and
agents, and each of them (the &#147;<U>Smith Released Parties</U>&#148;), from any and all actual or possible claims, charges, damages, demands, debts, liabilities, losses, accounts, reckonings, obligations, suits, actions and causes of action of
every kind and nature whatsoever, including, but not limited to, those </FONT>
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">arising under contract, statute or common law, whether or not known or suspected at this time, which the Devcon Releasing Parties have, or ever had, owned or
held, or hereafter can, shall or may have against any or all of the Smith Released Parties, based upon, arising out of, related to, or by reason of any cause, occurrence, event, act, fact, circumstance, thing, statement or omission occurring before
the date of this Agreement relating to, arising from or in connection with the Lot 22 Construction Agreement. The release granted pursuant to this <U>Section&nbsp;2(a)</U> shall be deemed rescinded, terminated and voided and shall be of no further
force and effect for any purpose whatsoever to the extent Smith fails to fulfill his obligations set forth in <U>Section&nbsp;3</U> hereof. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman"
SIZE="2">(b) Except with respect to obligations owed under this Agreement, Smith, on behalf of itself and his subsidiaries and affiliates and their respective associates, stockholders, representatives, successors, assigns, employees, attorneys,
advisors and agents (collectively, the &#147;<U>Smith Releasing Parties</U>&#148;), for good and sufficient consideration, the receipt of which is acknowledged, release absolutely and forever discharge the Company and each of its predecessors,
successors, assigns, parents, stockholders, subsidiaries and affiliates, and each of their respective former, current and future officers, directors, owners, managers, employees, partners, associates, representatives, stockholders, attorneys,
advisors and agents, and each of them (the &#147;<U>Devcon Released Parties</U>&#148;), from any and all actual or possible claims, charges, damages, demands, debts, liabilities, losses, accounts, reckonings, obligations, suits, actions and causes
of action of every kind and nature whatsoever, including, but not limited to, those arising under contract, statute or common law, whether or not known or suspected at this time, which the Smith Releasing Parties have, or ever had, owned or held, or
hereafter can, shall or may have against any or all of the Devcon Released Parties, based upon, arising out of, related to, or by reason of any cause, occurrence, event, act, fact, circumstance, thing, statement or omission occurring before the date
of this Agreement relating to, arising from or in connection with the Lot 22 Construction Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Section&nbsp;3. The Foundation. The
parties acknowledge this Agreement shall be effective to terminate the Lot 22 Construction Agreement notwithstanding the Foundation&#146;s failure to execute this Agreement and covenant and agree not to use such lack of execution as a basis for
attacking the enforceability of this Agreement. Smith agrees to indemnify and hold harmless each Devcon Released Party from and against all loss, liability, claim, damage (including incidental, consequential and punitive damages) or expense
(including costs of investigation and defense and reasonable attorneys&#146; fees) whether or not involving third party claims, arising directly or indirectly from or in connection with the assertion by the Foundation of any claim or demand against
any Devcon Released Party which claim or demand arises directly or indirectly from, or in connection with, the Lot 22 Construction Agreement. Smith further agrees not to pursue any right of contribution it may have with respect to any such claim
asserted by the Foundation. Smith agrees to cooperate fully with the Company and to take such actions and execute and deliver or cause to be executed and delivered such additional instruments and documents as the Company may reasonably request for
the purpose of negotiating a termination of the Foundation&#146;s participation in the Lot 22 Construction Agreement or other amendment of the Foundation&#146;s rights thereunder. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Section&nbsp;4. <U>Miscellaneous Provisions</U>. </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(a) <I>Amendment and Modification</I>. This Agreement may be amended, modified and supplemented only by written agreement of the parties hereto.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(b) <I>Severability</I>. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and
valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall fail to be in effect only to the extent of such prohibition or invalidity, without invalidating the
remainder of this Agreement or of any such provision. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(c) <I>Governing Law</I>. This Agreement and the legal relations among the parties
hereto shall be governed by and construed in accordance with the laws of the State of Florida. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:13%;padding-bottom:3px;line-height:95%; vertical-align:top"><FONT
FACE="Times New Roman" SIZE="2">(d) <I>Jurisdiction and Venue</I>. EACH OF THE COMPANY AND SMITH HEREBY IRREVOCABLY AGREES THAT ANY ACTION OR PROCEEDING AGAINST ANOTHER PARTY HERETO OR AGAINST PROPERTY OF SUCH OTHER PARTY ARISING OUT OF OR RELATING
TO THIS AGREEMENT (AN &#147;<U>ACTION</U>&#148;), SHALL BE HEARD AND DETERMINED ONLY IN A FLORIDA STATE COURT SITTING IN THE CITY OF MIAMI OR, TO THE EXTENT PERMITTED BY LAW, IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF FLORIDA,
OR IF SUCH COURT LACKS JURISDICTION, THE 11</FONT><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><SUP>TH</SUP></FONT><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"> JUDICIAL COURT (OR ITS SUCCESSOR) IN AND FOR DADE COUNTY, FLORIDA (THE
&#147;<U>FLORIDA COURTS</U>&#148;), AND EACH OF THE COMPANY AND SMITH HEREBY AGREES NOT TO BRING AN ACTION IN ANY OTHER COURT. EACH OF THE COMPANY AND SMITH HEREBY IRREVOCABLY SUBMITS TO AND ACCEPTS THE JURISDICTION OF THE FLORIDA COURTS, AND ANY
APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE COMPANY AND SMITH HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT THAT IT MAY EFFECTIVELY DO SO, ANY DEFENSE OR OBJECTION (INCLUDING, WITHOUT LIMITATION, ANY DEFENSE OR OBJECTION TO VENUE BASED ON
THE GROUNDS OF FORUM NON CONVENIENS) WHICH IT MAY NOW OR HEREAFTER HAVE TO THE MAINTENANCE OF ANY ACTION IN SUCH JURISDICTIONS. EACH OF THE COMPANY AND SMITH HEREBY IRREVOCABLY AGREES THAT THE SUMMONS AND COMPLAINT OR ANY OTHER PROCESS IN ANY ACTION
MAY BE SERVED BY MAILING (USING CERTIFIED OR REGISTERED MAIL, POSTAGE PREPAID RETURN RECEIPT REQUESTED) TO THE NOTICE ADDRESS FOR SUCH PARTY SPECIFIED ABOVE OR BY HAND DELIVERY TO A PERSON OF SUITABLE AGE AND DISCRETION AT SUCH ADDRESS. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(e) <I>Counterparts</I>. This Agreement may be executed simultaneously in two or more counterparts, including by facsimile transmission, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(f) <I>Entire Agreement</I>.
This Agreement sets forth the entire agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein, and supersedes all prior agreements, promises, covenants, arrangements, communications,
representations or warranties, whether oral or written, relating to the subject matter hereof and thereof. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">3 </FONT></P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(g) <I>Non-Disparagement</I><B>. </B>The Company and Smith each agree not to do or say anything in the
future to disparage or otherwise impugn the commercial or personal reputations of any party hereto or, any of such party&#146;s officers, directors, employees, and/or agents. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(h) <I>Non-Admission Of Liability</I>. Neither this Agreement nor anything contained herein shall constitute or be construed as an admission by any
party hereto as evidence of any liability, wrongdoing, or unlawful conduct. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(i) <I>Specific Performance</I>. Each of the parties hereto
recognizes and acknowledges that a breach by a party of any covenants or agreements contained in this Agreement will cause the other party to sustain injury for which it would not have an adequate remedy at law for money damages. Therefore, each of
the parties hereto agrees that in the event of any such breach, the aggrieved party shall be entitled to the remedy of specific performance of such covenants and agreements and preliminary and permanent injunctive and other equitable relief in
addition to any other remedy to which it may be entitled, at law or in equity, and the parties hereto further agree to waive any requirement for the securing or posting of any bond in connection with the obtaining of any such injunctive or other
equitable relief. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><I>[SIGNATURE PAGES FOLLOW] </I></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B>IN WITNESS WHEREOF</B>, the parties hereto have executed this Termination and Release Agreement as of
the date first written above. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>DEVCON INTERNATIONAL CORP.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Robert C. Farenhem</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Robert C. Farenhem</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR>
<TR>
<TD HEIGHT="24" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>BAHAMAS CONSTRUCTION AND DEVELOPMENT CORP.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Robert C. Farenhem</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Robert C. Farenhem</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR>
<TR>
<TD HEIGHT="24" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>DSMS, LTD.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Donald L. Smith, Jr.</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Donald L. Smith, Jr.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Donald L. Smith, Jr.</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Donald L. Smith, Jr.</FONT></TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>dex991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML><HEAD>
<TITLE>Press Release</TITLE>
</HEAD>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 99.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2"><B>Devcon International Corp. Announces Signing of Agreement for Sale of Construction Division </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Boca Raton, FL.&#151; March&nbsp;12,
2007&#151;Devcon International Corp. (NASDAQ: DEVC), a leading regional electronic security services provider, announced today that it had entered into an agreement for the sale of the majority of its construction assets. Donald L. Smith, Jr.,
Devcon&#146;s former Chairman, is a principal of the buyer. The transaction is structured as a purchase of fixed assets, inventory and Customer Lists of the Construction Division for $5.3 million. Devcon will retain working capital of $6.7 million,
including approximately $2.1 million in notes receivable, as of December&nbsp;31, 2006. As a result of this transaction, Devcon will recognize a Loss from the Sale of Assets in the first quarter of 2007 of approximately $3.0 million, prior to any
employee severance and other transaction-related expenses. The transaction is scheduled to close in March 2007, with 10% of the purchase price held back at closing, subject to certain adjustments. This transaction does not include the majority of
Devcon&#146;s United States real estate leaseholds. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Rick Rochon, Acting CEO, said, &#147;This is an exciting event for Devcon as we continue to build the
Company into a leading regional provider of electronic security services and now primarily a &#147;pure play&#148; security services company. It is also an exciting day for the construction division as we believe that the new owners will provide
more opportunities for our construction division associates.&#148; </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">About Devcon </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Devcon has three operating divisions. The Security Division, (http://www.devcon-security.com) which provides electronic security services to commercial and residential customers in selected markets, is the eleventh
largest security monitoring and alarm company in the U.S. and the second largest in Florida. The Construction Division dredges harbors, builds marine facilities and prepares residential, commercial and industrial sites, primarily in the Bahamas and
the eastern Caribbean. The Materials Division produces and distributes crushed stone, ready-mix concrete and concrete block on St. Maarten in the Netherlands Antilles and on St. Martin in the French West Indies. </FONT></P> <P
STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Forward-Looking Statements </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This press release may contain statements, which
are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Devcon&#146;s future results of operations,
financial position or state other forward-looking information. In some cases you can identify these statements by forward-looking words such as &#147;anticipate,&#148; &#147;believe,&#148; &#147;could,&#148; &#147;estimate,&#148; &#147;expect,&#148;
&#147;intend,&#148; &#147;may,&#148; &#147;should,&#148; &#147;will,&#148; and &#147;would&#148; or similar words. You should not rely on forward-looking statements because Devcon&#146;s actual results may differ materially from those indicated by
these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated
trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations effecting our business, and other risks and uncertainties discussed under the heading &#147;Item
1A&#151;Risk Factors&#148; in Devcon&#146;s Annual Report on Form 10-K for the period ended December&nbsp;31, 2005 as filed with the Securities and Exchange Commission, and other reports Devcon files from time to time with the Securities and
Exchange Commission. Devcon does not intend to and undertakes no duty to update the information contained in this press release. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">###
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For More Information: Stan Smith (561)&nbsp;955-7300 or SSmith@RPCP.com </FONT></P>
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</SUBMISSION>
