X0201 3 2004-03-16 0 0000875296 URECOATS INDUSTRIES INC URT 0001283988 DOLNICK DENNIS A C/O URECOATS INDUSTRIES INC. 718 SOUTH MILITARY TRAIL DEERFIELD BEACH FL 33442 0 1 0 0 CFO and Treasurer Option (Right to Buy) .95 Common Stock, PV $.01 3180 D On March 16, 2004, the Company granted to me 3,180 stock options, which, subject to vesting, are exercisable at any time, in whole or in part, within three (3) years of the date of grant. The stock options vest after the end of each calendar year in a number to be determined by dividing the Company's common stock price as of the end of the calendar year into a number equal to 5% of the calendar year's excess revenues, rounded to the nearest integer. Excess revenues is defined as the Company's annual revenues minus $1 million. Notwithstanding the foregoing, the stock options that do not vest in any given year are canceled. /s/ Dennis A. Dolnick 2004-03-19