EXHIBIT 10.03 EMPLOYMENT AGREEMENT

AGREEMENT, dated as of June 25, 1999, by and between UNIVERSAL SUPPLY GROUP, INC., a New York corporation with its principal office at 275 Wagaraw Road, Hawthorne, New Jersey 07506, (the "Company") and WILLIAM SALEK, residing at 58 Burma Road, Wyckoff, New Jersey 07481 (the "Employee").

1.01.        Employment. Upon the terms and conditions hereinafter set forth, the Company hereby employs the Employee, and the Employee hereby accepts employment, as Vice President of the Company.

1.02.        Employee represents and warrants to the Company that he is free to enter into this Agreement in accordance with the terms hereof and is under no restriction, contractual or otherwise, which would interfere with his execution hereof or performance hereunder.

1.3.     Term. The Employee's employment hereunder shall be for a term (the "Term") commencing as of this date (the "Commencement Date") and terminating at the close of business on December 31, 2004.

1.4.     Duties. During the Term, the Employee shall perform such duties, consistent with his position hereunder, as may be assigned to him from time to time by the Board of Directors. The Employee shall devote his best efforts and his entire time, attention and energies, during regular working hours, to the performance of his duties hereunder and to the furtherance of the business and interests of the Company, its subsidiaries and affiliate companies. Throughout the Term, Employee shall engage in no other business activities other than the passive supervision of his investments.

2.01     Compensation. For all services rendered by the Employee hereunder and all covenants and conditions undertaken by him pursuant to this Agreement, the Company shall pay, and the Employee shall accept a salary at the rate of $85,000 per annum. Compensation shall be payable not less frequently than in bi-weekly installments. The Board of Directors of the Company may (but shall not be obligated to), at any time and from time to time, grant to the Employee an increase or increases in the compensation otherwise payable pursuant to this Section 2.01, but such increase or increases, if any, shall not be deemed to alter, modify, waive or otherwise affect any other term, covenant or condition of this Agreement.

2.02     Incentive Compensation. For the balance of the calendar year 1999 and for each of the calendar years 2000 through 2004, the Employee shall receive, as Incentive Compensation, a percentage of the Incentive Compensation Base. Incentive Compensation Base shall mean the Company's net earnings (as determined by the Company in accordance with generally accepted auditing standards consistent with those used by Company's parent company) which are included in the parent company's consolidated audited financial statements, plus the amount of any deductions from net earnings which are made in such statements for (i) interest paid or accrued in connection with the acquisition of the Company, (ii) Federal income taxes, (iii) parent company management fees or allocation of overhead from the parent company either paid or accrued and (iv) Incentive Compensation under this Agreement. For 1999 account shall be taken only of net earnings during the period from April 1, 1999 through December 31, 1999. Earnings of businesses acquired by the Company shall be included in determining Incentive Compensation base. Incentive Compensation will be paid within 30 days following receipt by the Company of the Independent Accountants' report for the year involved and said report shall be binding and conclusive on the calculation of net earnings and Incentive Compensation.

Total Incentive Compensation in this example would be $22,500.

2.04.     Disability Adjustments. Any compensation otherwise payable to the Employee pursuant to Section 2.01 during any Disability Period (as that term is hereinafter defined) shall be reduced by any amounts payable to the Employee for loss of earnings or the like under any insurance plan or policy the premiums for which are paid for in their entirety by the company.

ARTICLE III

BENEFITS: EXPENSES

3.02.     Expenses. Upon presentation of an itemized account thereof, with such substantiation as the Company shall require, the Company shall pay or reimburse the Employee for the reasonable and necessary expenses directly and properly incurred by the Employee in connection with the performance of his duties hereunder, subject to guidelines established by the Board of Directors.

3.03       Vacations. During the Term, the Employee shall be entitled to paid holidays and paid vacations in accordance with the policy of the Company as determined by the Board of Directors provided, however, that the Employee shall be entitled to not less than four weeks paid vacation during each year of the Term, to be taken at times convenient to the Employee and to the Company.

3.04       Location. Notwithstanding anything which may be contained herein to the contrary, the Employee's office shall be located in northeastern New Jersey area and the performance of his duties hereunder shall not require his continued presence outside of such area if the Employee shall object thereto.

ARTICLE IV

TERMINATION

4.01.     Termination. The employment of the Employee, and the obligations of the Employee and the Company hereunder, shall cease and terminate (except as otherwise specifically provided in this Agreement) upon the first to occur on the following dates (the "Termination Date") described in this Section 4.01: