Exhibit 10.3

                              EMPLOYMENT AGREEMENT

      This Employment  Agreement (the  "Agreement") is entered into effective as
of March 26, 2004 by and between  Mitchell  Peipert  ("Employee") and Conversion
Services International, Inc. (the "Company").

      WHEREAS,  the Company is engaged in the business of data  warehousing  and
business intelligence consulting; and

      WHEREAS,  the Company and Employee  are willing to commence an  employment
relationship,  on  the  terms,  conditions  and  covenants  set  forth  in  this
Agreement;

      NOW, THEREFORE,  in consideration of Employee's commencement of employment
with the  Company,  the  mutual  covenants  contained  herein and other good and
valuable  consideration,  the receipt of which the Company and  Employee  hereby
acknowledge, Employee and the Company agree, as follows:

      1.  Position.  Employee  agrees to  employment  with the Company,  and the
Company  hereby  employs  Employee,  in the position of Vice President and Chief
Financial  Officer of the Company.  Employee  further  agrees to perform the job
duties and to carry out the  responsibilities  of that position,  and such other
duties and  responsibilities  traditionally  associated  with such position,  as
determined by the Board of Directors of the Company from time to time.

      2. Employee's Effort. Employee shall perform his duties in the capacity as
an employee  and in such  capacity  shall spend his full  working  time and best
efforts,  skill and  attention to his position and to the business and interests
of the Company.  Employee shall perform his duties principally at the offices of
the Company in East Hanover, New Jersey.

      3. Salary.

            (a) The  Company  shall  pay  Employee  (i) base  compensation  (the
"Salary") for services  rendered in the amount of Two Hundred  Thousand  Dollars
($200,000)  per annum payable on a semi-monthly  basis (which base  compensation
may  be  increased  by the  Board  of  Directors  of the  Company,  in its  sole
discretion), and (ii) annual bonus, if any, as may be determined by the Board of
Directors of the Company, in its sole discretion.

            (b)  Employee  will be  entitled to  participate  in any bonus plan,
incentive  compensation program or incentive stock option plan or other employee
benefits  of the  Company  and  which are  available  to the five  highest  paid
executives  of the  Company,  on  the  same  terms  and at  the  same  level  of
participation as the five highest paid executives of the Company.

<PAGE>

      4. Benefits.

            (a) Employee will be entitled to at least nine (9) paid holidays and
two (2) personal days each calendar year. The Company will notify Employee on or
about the beginning of each  calendar year with respect to the holiday  schedule
for the coming year.  Personal  holidays,  if any,  will be scheduled in advance
subject to requirements  of the Company.  Such holidays must be taken during the
calendar year and cannot be carried forward into the next year.

            (b)  Employee  shall be entitled to twenty (20) paid  vacation  days
each year, and if unused due to the  requirements of the Company's  business may
be carried forward into subsequent years.

            (c)  Employee  shall be entitled to sick leave and  emergency  leave
according to the regular policies and procedures of the Company. Additional sick
leave or emergency  leave over and above paid leave provided by the Company,  if
any,  shall be unpaid  and shall be granted  at the  discretion  of the Board of
Directors or any committee thereof.

            (d) The Company agrees to include  Employee in the group medical and
hospital plan of the Company and provide group life insurance for Employee at no
charge to Employee in the amount of the Salary during this  Agreement.  Employee
shall be responsible for payment of any federal or state income tax imposed upon
these benefits.

            (e)  Employee  shall be  entitled to  participate  in any pension or
profit  sharing  plan,  incentive  stock  option  plan or any other type of plan
adopted by the Company for the benefit of its officers and/or regular employees.

            (f) The Company will provide to Employee the use of an automobile of
Employee's  choice at a monthly  leased  price not to exceed  $750.  The Company
agrees to replace the  automobile  with a new one at Employee's  request no more
often  than once  every  two (2)  years.  The  Company  will pay all  automobile
operating expenses incurred by Employee in the performance of Employee's Company
duties.  The Company will procure and maintain in force an automobile  liability
policy for the automobile  with  coverage,  including  Employee,  in the minimum
amount of $1,000,000 combined single limit on bodily injury and property damage.

            (g) Employee shall be entitled to  reimbursement  for all reasonable
expenses,  including  travel and  entertainment,  incurred  by  Employee  in the
performance  of Employee's  duties.  Employee will maintain  records and written
receipt as required by the Company policy and reasonably  requested by the Board
of Directors of the Company to substantiate such expenses.

      5. Term;  Termination.  This  Agreement and the status and  obligations of
Employee thereunder as an employee of the Company (except as provided for below)
shall cease and terminate effective upon the close of business on March 25, 2007
(the "Expiration Date") unless earlier terminated  pursuant to this Section 5 or
further  extended  by the  parties  hereto in writing in a separate  instrument;
provided,  however,  that upon such date said  termination  shall not affect any
rights  that may have been  specifically  granted  to  Employee  by the Board of
Directors of the Company or a designated  committee  thereof  pursuant to any of
the Company's retirement plans,  supplementary  retirement plans, profit sharing
and  savings  plans,  healthcare,  401(k) or any other  employee  benefit  plans

                                       2
<PAGE>

sponsored by the Company,  it being  understood  that no such rights are granted
hereunder.  In  addition,  notwithstanding  the  expiry or  termination  of this
Agreement  pursuant  to this  Section  5 or  otherwise,  Employee's  rights  and
obligations  under  Sections  7 through 12  inclusive  of this  Agreement  shall
survive such  termination or expiration of this Agreement in accordance with the
terms of such Sections.

            (a)  Death  or  Disability.   This  Agreement  shall   automatically
termiante upon the death or disability of Employee and all his rights hereunder,
including the rights to receive  compensation and benefits,  except as otherwise
required by law.

            (b) Termination with Notice by Either Party. The Company or Employee
may terminate  this  Agreement for any reason or no reason upon thirty (30) days
prior written notice to the other.  In case of termination by the Company,  with
the exception of Good Cause (as herein defined),  the Company shall pay Employee
severance  compensation,  in a lump  sum  payable  on the  date of  termination,
calculated at the rate of Salary in effect as of the date immediately  preceding
the date of  termination  and the cost of  premiums  for any  Company  sponsored
insurance  policy (or the cash equivalent) for the longer of (i) thirty six (36)
months or (ii) the period from the date of  termination  through the  Expiration
Date.

            (c) Termination  for Good Cause.  "Good Cause" means any one or more
of the following:

                  (1)  a  continuing  material  breach  or  continuing  material
default by Employee of the  material  terms of this  Agreement  (except any such
breach  or  default  which is  caused  by the  physical  disability  or death of
Employee)  which  remains  uncured after twenty (20) days  following  Employee's
receipt from the Company of written notice specifying such breach or default;

                  (2) gross negligence or willful misfeasance by Employee or the
breach of fiduciary duty by Employee (if  affirmatively  determined by the Board
of  Directors of the  Company) in the  performance  of his duties as an employee
hereunder;

                  (3)  the   commission   by   Employee  of  an  act  of  fraud,
embezzlement or any other crime in connection with Employee's duties; or

                  (4) conviction of Employee of a felony or any other crime that
would materially interfere with the performance of Employee's duties hereunder.

            In the event of a termination  for Good Cause,  the Company will pay
Employee the Base Salary earned and expenses  reimbursable  under this Agreement
incurred through the date of Employee's termination, or four (4) months from the
effective date of this Agreement, whichever is longer, in one lump sum. Employee
shall continue to receive the same health  benefits that he was receiving  prior
to such termination for twelve (12) months following such termination.

                                       3
<PAGE>

      6. Change in Control and Other  Grounds  Entitling  Employee to Terminate.
"Change in Control" shall mean (a) any sale,  lease,  exchange or other transfer
(in one transaction or a series of transactions) of all or substantially  all of
the assets of the Company; (b) individuals who, as of the date hereof, consitute
the entire Board of Directors of the Company (the "Incumbant  Directors")  cease
for any reason to  constitute  at least a majority of the Board of  Directors of
such company, provided that any individual becoming a director subsequent to the
date hereof whose  election was approved by a vote of at least a majority of the
then  Incumbant  Directors  shall  be,  for  the  purposes  of  this  provision,
considered  as  though  such  individual  were an  incumbant  director;  (c) any
consolidation  or merger or other  business  combination of the Company with any
other  entity where the  stockholders  of the Company  immediately  prior to the
consolidation  or merger or other business  combination  would not,  immediately
after the  consolidation or merger or other business  combination,  beneficially
own,  directly or  indirectly,  shares  representing  fifty percent (50%) of the
combined voting power of all of the outstanding securities of the entity issuing
cash or securities in the consolidation or merger or other business  combination
(or its ultimate parent  corporation,  if any); (d) a third person,  including a
person defined in Section  (13)(d)(3) of the Securites  Exchange Act of 1934, as
amended (the "Exchange Act"), becomes the benefical owner (as defined in Section
(13)(d)(3)  of the  Exchange  Act)  directly or  indirectly  of securites of the
Company  representing  fifty  percent (50%) or more of the total number of votes
that may be cast for the election of the  directors  of the Company;  or (e) the
Board of  Directors  of the Company by vote of a majority of all the  directors,
adopts a  resolution  to the effect that a "Change in Control"  has occurred for
purposes of this Agreement.

            (a) A Change in  Control  in the  Company  resulting  in a  material
adverse change in duties,  responsibilities or role, or reporting  relationships
of Employee will be treated as a termination by the Company  without Good Cause.
If such  termination  without Good Cause  occurs  following a Change in Control,
Employee will be entitled to elect to terminate his employment  hereunder and to
receive his  severance  compensation  and other rights and benefits  pursuant to
Section  5(a) as if he were  terminated  by the Company  without  Good Cause and
expenses  reimbursable  under  this  Agreement  incurred  through  the  date  of
Employee's termination, in one lump sum.

            (b) Upon a Change in Control,  100% of all  unvested  stock  options
and/or restricted shares held by Employee shall immediately vest.

            (c) Further,  any of the following shall constitute a termination by
the Company  without Good Cause  entitling  Employee to elect to  terminate  his
employment hereunder and to receive his severance  compensation and other rights
and benefits  pursuant to Section 5(a) as if he were  terminated  by the Company
without Good Cause:  (i) the  relocation of Employee by the Company more than 50
miles from East Hanover,  New Jersey;  (ii) there shall be a continuing material
breach or continuing  material  default by the Company of the material  terms of
this  Agreement  which  remains  uncured  after twenty (20) days  following  the
Company's  receipt from  Employee of written  notice  specifying  such breach or
default;  or (iii)  if  Employee  shall no  longer  hold  the  position  of Vice
President and Chief Financial  Officer of the Company unless there is Good Cause
for the removal of Employee from such position.

                                       4
<PAGE>

      7.  Confidentiality.  Employee  shall  keep  confidential,  except  as the
Company may  otherwise  consent in writing,  and not disclose or make any use of
except for the benefit of the  Company,  at any time  either  during the term of
this  Agreement  or  therafter,  any  trade  secrets,  knowledge,  data or other
information  of the  Company  relating  to the  products,  processes,  know how,
technical data, designs,  formulas,  test data, customer lists,  business plans,
marketing plans and strategies,  and product pricing strategies or other subject
matter  pertaining  to any  business  of  the  Company  or  any of its  clients,
customers,  consultants,  licensees or  affiliates  which  Employee may produce,
obtain or  otherwise  learn of during the course of  Employee's  performance  of
services (collectively "Confidential Information").  Employee shall not deliver,
reproduce, or in any way allow any such Confidential Information to be delivered
to or used by any third parties  without the specific  direction or consent of a
duly  authorized  representative  of the Company,  except in connection with the
dischage of his duties  thereunder.  The terms of this  paragraph  shall survive
termination of this Agreement.  Notwithstanding anything to the contrary herein,
Employee shall not have any obligation to keep confidential any information (and
the  term  "Confidential  Information"  shall  not  be  deemed  to  include  any
information)  that (a) is generally  available to the public through no fault or
wrongful act of Employee in breach of the terms hereof,  (b) is  disseminated by
the Company or any of its affiliates publicly without requiring confidentiality,
(c) is required by law or  regulation  to be disclosed  by  Employee,  or (d) is
required to be disclosed by Employee to any government  agency or person to whom
disclosure is required by judicial or administrative process.

      8.  Return  of  Confidential  Material.   Upon  the  completion  or  other
termination  of Employee's  services for the Company,  Employee  shall  promptly
surrender  and  deliver  to  the  Company  all  records,  materials,  equipment,
drawings,  documents,  notes and books and data of any nature  pertaining to any
invention,  trade  secret  or  Confidential  Information  of the  Company  or to
Employee's  services,  and  Employee  will  not take  with  him any  description
containing or pertaining to any Confidential  Information,  knowledge or data of
the  Company  which  Employee  may  produce  or obtain  during the course of his
services.  The  terms  of  this  paragraph  shall  survive  termination  of this
Agreement.

      9. Competition. Employee will not do any of the following, either directly
or  indirectly,  during  Employee's  employment  with the Company and during the
period  of one (1)  year  after  Employee's  cessation  of  employment  with the
Company,  anywhere in the world. In the event that Employee  improperly competes
with the  Company in  violation  of this  Section,  the period  during  which he
engages in such competition  shall not be counted in determining the duration of
the one (1) year non-compete restriction:

            (a) For purposes of this  Agreement,  "Competitive  Activity"  shall
mean any activity relating to, in respect of or in connection with,  directly or
indirectly, the data warehousing and business intelligence consulting business.

            (b) Employee shall not own, manage, operate,  control,  consult for,
be an officer or director  of,  work for, or be employed in any  capacity by any
company or any other business,  entity,  agency or organization which engages in
Competitive  Activity;  provided,  however,  that during his  employment  by the
Company and during his non-compete period following  departure from the Company,
Employee  may serve as a director  or  consultant  of an entity that is either a

                                       5
<PAGE>

Company  licensee,  or,  for  non-licensees,  in such  capacity  as the Board of
Directors of the Company has granted him written permission.

            (c)  Employee  shall not solicit or perform  services in  connection
with any Competitive Activity for any prior or current customers of the Company;
or

            (d)  Employee  shall not solicit for  employment  or employ any then
current employees employed by the Company without the Company's consent.

            Employee and the Company agree that the phrase "Employee's cessation
of  employment  with  the  Company"  as used in this  Agreement,  refers  to any
separation   from  his   employment  at  the  Company   either   voluntarily  or
involuntarily,  either with cause or without cause, or whether the separation is
at the  behest of the  Company or  Employee.  Nothing  in this  Agreement  shall
preclude   Employee  from  employment  at  a   not-for-profit   or  governmental
institution,  provided that no for-profit business involved data warehousing and
business intelligence consulting, directly or indirectly, derives a benefit from
Employee's employment.

      10. Other Obligations.

            (a)  Employee  acknowledges  that the Company  from time to time may
have agreements  with other persons which impose  obligations or restrictions on
the  Company  made  during  the  course  of work  thereunder  or  regarding  the
confidential nature of such work. Employee will be bound by all such obligations
and restrictions and will take all action necessary to discharge the obligations
of the Company thereunder.

            (b) All of  Employee's  obligations  under this  Agreement  shall be
subject to any applicable agreements with, and policies issued by the Company to
which  Employee is subject,  that are  generally  applicable to the five highest
paid executives of the Company.

      11. Trade Secrets of Others.  Employee  represents that his performance of
all the terms of this Agreement as employee to the Company does not and will not
breach any agreement to keep in confidence proprietary information, knowledge or
data  acquired by Employee in  confidence  or in trust,  and  Employee  will not
disclose  to the  Company,  or allow the  Company to use,  any  confidential  or
proprietary  information  or material  belonging  to any other person or entity.
Employee will not enter into any agreement,  either written or oral, which is in
conflict with this Agreement.

      12. Injunctive Relief.  Employee acknowledges that any breach or attempted
breach by Employee of paragraphs 7 through 12 of this Agreement  shall cause the
Company  irreparable harm for which any adequate monetary remedy does not exist.
Accordingly,  in the event of any such breach or threatened  breach, the Company
shall be entitled to obtain injunctive relief,  without the necessity of posting
a bond or other surety, restraining such breach or threatened breach.

                                       6
<PAGE>

      13. Modification.  This Agreement may not be changed, modified,  released,
discharged,  abandoned,  or otherwise amended, in whole or in part, except by an
instrument  in writing,  signed by Employee and by the Company.  Any  subsequent
change or changes in  Employee's  relationship  with the  Company or  Employee's
compensation shall not affect the validity or scope of this Agreement.

      14. Entire Agreement. Employee acknowledges receipt of this Agreement, and
agrees that with respect to the subject matter thereof,  it is Employee's entire
agreement   with  the  Company,   superseding   any  previous  oral  or  written
communications,  representations,  understandings with the Company or any office
or representative  thereof.  Each party to the Agreement  acknowledges  that, in
executing this Agreement,  such party has had the opportunity to seek the advice
of independent  legal counsel,  and has read and understood all of the terms and
provisions of the Agreement.

      15.  Severability.  In the event that any  paragraph  or provision of this
Agreement  shall be held to be illegal or  unenforceable,  the entire  Agreement
shall not fall on account thereof,  but shall otherwise remain in full force and
effect,  and such paragraph or provision shall be enforced to the maximum extent
permissible.

      16.  Successors  and  Assigns.   This  Agreement  shall  be  binding  upon
Employee's heirs,  executors,  administrators or other legal representatives and
is for the benefit of the Company, its successors and assigns.

      17.  Governing  Law. This  Agreement  shall be governed by the laws of the
State of  Delaware  except for any  conflicts  of law rules  thereof  that might
direct the application of the substantive law of another state.

      18.  Counterparts.  This  Agreement may be signed in  counterparts  and by
facsimile  transmission,  each of which shall be deemed an original  and both of
which shall together constitute one agreement.

      19. No  Waiver.  No waiver by either  party  hereto of any  breach of this
Agreement by the other party hereto shall  constitute a waiver of any subsequent
breach.

      20. Notice.  Any notice hereby  required or permitted to be given shall be
sufficiently  given if in writing and upon  mailing by  registered  or certified
mail,  postage  prepaid,  to either  party at the  address of such party or such
other address as shall have been  designated by written  notice by such party to
the other party.



                            [Signature Page Follows]

                                       7
<PAGE>

      The  undersigned  have executed this  Agreement as of the date first forth
above.

                                         CONVERSION SERVICES INTERNATIONAL, INC.



                                         By:/s/Scott Newman
                                            ---------------------------------
                                               Name:  Scott Newman
                                               Title: President and Chief
                                                      Executive Officer


                                         /s/Mitchell Peipert
                                         -------------------------------
                                         Mitchell Peipert


                                       8