EMPLOYMENT AGREEMENT



                  This Employment Agreement ("Agreement") is entered into and

made effective as of December 27, 2002, by and between PhotoMedex, Inc.

("Employer") and Michael R. Stewart ("Employee").



                                    RECITALS



         WHEREAS, Employee currently serves as President and Chief Executive

Officer of Surgical Laser Technologies, Inc. ("SLT");



         WHEREAS, the Employer and SLT have entered into an agreement of merger

(the "Merger"), under which SLT shall become, on the effective date of which

(the "Effective Date"), a wholly-owned subsidiary of Employer;



         WHEREAS, Employer wishes to employ Employee as Executive Vice-President

of Corporate Operations of Employer, and Employee wishes to accept such

employment, all on the condition of closing of the Merger and on the terms and

conditions set forth in this Agreement; and



         WHEREAS, in connection with and as a condition of Employer entering

into this Agreement, Employee shall terminate all existing agreements with SLT

and any affiliate thereof related to employment, compensation, severance, and

equity participation; and



         WHEREAS, SLT, which, upon the Effective Date, will be a wholly-owned

subsidiary of the Company, is a party to this Agreement solely for the purpose

of acknowledging and agreeing to the termination of the agreements referenced in

subsection 6.7(a) hereof;



                  NOW, THEREFORE, in consideration of the foregoing recitals and

the mutual covenants and obligations herein contained, the parties hereto agree

as follows:



                                    AGREEMENT



         1.       Employment. Employer hereby employs Employee, and Employee

hereby accepts employment with Employer, upon the terms and conditions set forth

in this Agreement.



         2.       Term of Employment. The employment of Employee pursuant to the

terms of this Agreement shall commence as of the Effective Date, and shall

continue until December 31, 2003, unless sooner terminated pursuant to the

provisions hereof (the "Term"), provided, however, that this Agreement, unless

earlier terminated according to the provisions hereof, shall, as of December 1

of each year, beginning with December 1, 2003, be automatically extended for an

additional year.



                                        1



<PAGE>



         3.       Duties.



                  3.1.  Basic Duties. Subject to the direction and control of

the President and Chief Executive Officer of Employer, Employee shall serve as

the Executive Vice-President of Corporate Operations and shall fulfill all

duties and obligations of such office.



                  3.2.  Other Duties of Employee. In addition to the foregoing,

Employee shall perform such other or different duties related to those set forth

in Paragraph 3.1 as may be assigned to him from time to time by Employer;

provided, however, that any such additional assignment shall be at a level of

responsibility commensurate with that set forth in Paragraph 3.1.



                  3.3.  Time Devoted to Employment. Employee shall devote his

full time to the business of Employer during the term of this Agreement to

fulfill his obligations hereunder.



                  3.4.  Place of Performance of Duties. The services of Employee

shall be performed at Montgomeryville, Pennsylvania.



         4.       Compensation and Method of Payment.



                  4.1   Total Compensation. As compensation under this

Agreement, Employer shall pay and Employee shall accept the following:



                  (a)   For each year of this Agreement, measured from the

                        effective date hereof, base compensation ("Base Salary")

                        of Two Hundred Thirty-Five Thousand Dollars ($235,000).



                  (b)   Employer shall reimburse Employee for all reasonable

                        travel, entertainment and other expenses incurred or

                        paid by Employee in connection with, or related to, the

                        performance of Employee's duties, responsibilities or

                        services under this Agreement, upon presentation by the

                        Employee of documentation, expense statements, vouchers

                        and/or such other supporting information as Employer may

                        request.



                  (c)   Participation in Employer's employee fringe benefit,

                        health insurance, life insurance, key man insurance and

                        other programs in effect from time to time for employees

                        of Employer and its affiliates at comparable levels of

                        responsibility. Participation will be in accordance with

                        any applicable policies adopted by Employer. Employee

                        shall be entitled to vacations, absences for illness,

                        and to similar benefits of employment, and shall be

                        subject to such policies and procedures as may be

                        adopted by Employer.



                  (d)   Employee shall be entitled to an automobile allowance of

                        $1,000 per month.

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