f8k0707ex10vi_bedminster.htm


    EMPLOYMENT
      AGREEMENT

    


    


    


    This
      employment agreement (the "Agreement") is made and entered into as of the 2nd day of
      July , 2007
      by and between Metropolitan Computing Corporation., a New Jersey Corporation
      (the "Company"), and Michael Levin, (the "Executive").

    


    RECITALS

    


    A.         The
      Company has entered into a Stock Purchase Agreement with Bedminster National
      Corp., effective the date hereof, (the “Stock Purchase Agreement”) and one of
      the requirements of the Stock Purchase Agreement is that Executive and Company
      enter into this Agreement.

    


    B.           
      Executive has been instrumental in the development of the Company’s technology
      and markets and potential markets. The Company desires to employ the Executive
      from the date set forth above (the "Effective  Date") until expiration
      of the term of this Agreement, and Executive is willing to be employed
      by  Company during that period, on the terms and subject to the
      conditions set forth in this Agreement.

    


    In
      consideration of the mutual
      covenants and promises of the parties, the Company and Executive covenant and
      agree as follows:

    


    1.    Duties

    


    During
      the term of this Agreement, Executive will be employed by the Company to serve
      as President, chief executive officer and a director of the
      Company.  The Executive will devote such  amount of business
      time to the conduct of the business of the Company as may be reasonably required
      to  effectively discharge Executive’s duties under this Agreement,
      will perform those duties and have such authority and  powers as are
      customarily associated with the office of a president and chief executive
      officer of a company engaged in a business that is similar to the business
      of
      the Company,  including (without limitation) (a) the authority to
      direct and manage the day-to-day operations, finances and affairs  of
      the Company, and to allocate working capital within agreed budgets, (b) the
      authority to hire, develop compensation plans for and discharge employees of
      the
      Company within agreed budgets or other agreed parameters; (c) the authority
      to
      determine the scope of new product development, marketing and sales strategy
      and
      (d) all other  authority and powers exercised by the Executive prior
      to the Effective Date as chief executive officer of the Company subject at
      all
      times to the overall direction of the Board of Directors of the
      Company.  Unless the parties agree otherwise in writing, during the
      term  of this Agreement, Executive will not be required to perform
      services under this Agreement other than at  Company's principal place
      of business in East Hanover, NJ; provided, however, that Company may, from
      time
      to time, require Executive to travel  temporarily to other locations
      on the Company's business.  Executive may perform services
      electronically from remote locations consistent with past practices, subject
      to
      the reasonable approval of the Board of Directors.

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    2.    Term
      of Employment

     

    2.1   Definitions

    


    For
      purposes of this Agreement the following terms have the following
      meanings:

    


    (a)           
      "Termination for Cause" means termination by Company of
      Executive’s  employment (i) by reason of Executive’s willful
      dishonesty towards, fraud upon, or deliberate  injury or attempted
      injury to, the Company, (ii) by reason of Executive’s gross negligence or
      intentional misconduct with  respect to the performance of Executive’s
      duties under this Agreement; provided, however, that no  such
      termination under this Section 2.1a(ii) will be deemed to be a Termination
      for
      Cause unless the Company has provided  Executive with written notice
      of what it reasonably believes are the grounds for any
      Termination  for Cause and Executive fails to take appropriate
      remedial actions during the thirty day period following receipt of such written
      notice.

    


    (b)           
      "Termination Other than For Cause" means termination by the Company of
      Executive’s employment by the Company for reasons other than those which
      constitute Termination for Cause.

    


    (c)           
      "Voluntary Termination" means termination by the Executive of the
      Executive’s  employment with the Company, upon six month’s advance
      written notice to the Company, and excluding termination by reason of
      Executive’s death or disability  as described in Sections 2.5 and
      2.6.

    


    (d)           “Termination
      for Good Reason” means termination by the Executive of the
      Executive’s  employment with the Company, upon sixty days advance
      written notice to the Company, after the occurrence of any of the following:
      (i)
      reduction of Executive’s then existing base salary; (ii) material reduction in
      the package of benefits, taken as a whole, which are provided to Executive,
      except to the extent that such benefits and incentives of all other executive
      officers of the Company are similarly reduced; (iii) any diminution of
      Executive’s duties, responsibilities, authority, reporting structure, titles or
      offices, which is not remedied upon notice; (iv) request that Executive relocate
      to a work site that would increase Executive’s one way commute by more than 20
      miles, unless Executive accepts such relocation; (v) any material breach by
      the
      Company of its obligations under this Agreement, provided, however, that
      no  such termination under this Section 2.1d (v) will be deemed to be
      a Termination for Good Reason unless the Executive has
      provided  Company with written notice of what he reasonably believes
      are the grounds for any Termination for Good Reason and Company fails to take
      appropriate remedial actions during the thirty day period following receipt
      of
      such written notice.

    


    2.2   Basic
      Term

    


    The
      term
      of employment of Executive by the Company will commence on the Effective Date
      and will  extend through the period ending sixty months from the date
      hereof, (the  "Termination Date").   Company and
      Executive may extend the term of this Agreement by mutual written
      agreement.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    2.3   Termination
      for Cause

    


    Termination
      for Cause may be effected by Company at any time during the term of this
      Agreement and may be effected by written notification to Executive; provided,
      however, that no Termination for Cause will be effective unless Executive has
      been provided with the prior written notice and opportunity  for
      remedial action described in Section 2.1.  Upon Termination for Cause,
      Executive is to be immediately  paid all accrued
      salary,  incentive compensation (if any)to the extent earned, and
      accrued vacation pay as provided in the Company’s Employee Manual, as the same
      may be in effect from time to time , all to the date of termination, but
      Executive will not be paid any severance  compensation.

    


    2.4   Termination
      Other Than for Cause

    


    Notwithstanding
      anything else in this Agreement, Company may effect a Termination Other Than
      for  Cause at any time upon giving six month’s advance written notice
      to Executive of such Termination Other Than for Cause.  Upon
      any  Termination Other Than for Cause, Executive will immediately be
      paid all accrued salary,  incentive compensation (if any) to the
      extent earned, and accrued vacation pay as provided in the Company’s Employee
      Manual, as the same may be in effect from time to time , all to the date of
      termination, together with  severance compensation as provided in
      Section 4.

    


    2.5   Termination
      Due to Disability

    


    In
      the
      event that, during the term of this Agreement, Executive should, in the
      reasonable judgment of  the Board, fail to perform Executive’s duties
      under this Agreement because of illness or physical or
      mental  incapacity ("Disability"), and such Disability continues for a
      period of more than six consecutive months, or 180 days out of any consecutive
      270 day period, Company will have the right to terminate or suspend Executive’s
      employment  under this Agreement by written notification to Executive
      and payment to Executive of all accrued
      salary  and  incentive compensation (if any) to the extent
      earned, and accrued vacation pay as provided in the Company’s Employee Manual,
      as the same may be in effect from time to time, all to the date of termination,
      together with severance compensation as provided in Section 4, provided,
      however, (a) that such severance compensation will be paid for a period of
      the
      lesser of one (1) year from the date Executive’s employment is terminated, or
      until the Termination Date, and (b) such severance compensation will be reduced
      by any payments made to Executive pursuant to any policy of disability
      insurance, the premiums for which have been paid by the Company. Any
      determination by the Board with respect to Executive’s Disability must be based
      on a determination of  competent medical authority or authorities, a
      copy of which determination must be delivered to the  Executive at the
      time it is delivered to the Board.  In the event the Executive
      disagrees with the  determination described in the previous sentence,
      Executive will have the right to submit to the Board a  determination
      by a competent medical authority or authorities of Executive’s own choosing to
      the effect  that the aforesaid determination is incorrect and that
      Executive is capable of performing Executive’s duties  under this
      Agreement.  If, upon receipt of such determination, the Board wishes
      to continue to seek to  terminate this Agreement under the provisions
      of this section, the parties will submit the issue of  Executive’s
      Disability to arbitration in accordance with the provisions of this
      Agreement.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    2.6   Death

    


    In
      the
      event of Executive’s death during the term of this Agreement, Executive’s
      employment is to be  deemed to have terminated as of the last day of
      the month during which Executive’s death occurred, and  Company will
      pay to Executive’s estate accrued salary, incentive compensation (if any) to the
      extent earned, and accrued vacation pay as provided in the Company’s Employee
      Manual, as the same may be in effect from time to time , all to the date of
      termination.

    


    2.7   Voluntary
      Termination

    


     In
      the event of a Voluntary Termination, at the end of the six month notice period,
      Company will immediately pay to Executive all accrued salary, incentive
      compensation (if any) to the extent earned, and accrued vacation pay as provided
      in the Company’s Employee Manual, as the same may be in effect from time to
      time, all to the date of termination, but Executive will not be paid any
      severance compensation.

    


    2.8           Termination
      for Good Reason

    


    In
      the
      event of a Termination for Good Reason, Executive will immediately be paid
      all
      accrued salary,  incentive compensation (if any) to the extent earned,
      and accrued vacation pay as provided in the Company’s Employee Manual, as the
      same may be in effect from time to time, all to the date of termination,
      together with  severance compensation as provided in Section
      4.

    


    3.    Salary,
      Benefits and Other Compensation

    


    3.1   Base
      Salary

    


    As
      payment for the services to be rendered by Executive as provided in Section
      1
      and subject to the  terms and conditions of Section 2, Company agrees
      to pay to Executive a "Base Salary," payable  in equal semi-monthly
      installments.  The Base  Salary payable to Executive under
      this Section will initially be $180,000, subject to minimum annual cost of
      living increase equal to the percentage increase in the Consumer Price Index
      All
      Urban Consumers, for the New York, Northern New Jersey area, or any successor
      index  applicable to the Northern New Jersey Area, but not less than
      5% for the first two years  If Executive’s Base Salary has not reached
      $200,000, it will be increased to $200,000 upon achievement of the earn-out
      provided in Section 2.2 b (ii) of the Stock Purchase
      Agreement.  Payment of earn-out is a separate obligation of Bedminster
      National Corp.

    


    3.2   Performance
      and Incentive Bonus Plans

     

    (a)           During
      the term of his employment under this Agreement, the Executive will be eligible
      to participate in all other bonus and incentive plans established by the Board
      for senior officers of the Company.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    3.3   Benefit
      Plans

    


    During
      the term of Executive’s employment under this Agreement, the Executive is to be
      eligible to  participate in all employee benefit plans to the extent
      maintained by the Company, including (without  limitation) any life,
      disability, health, accident and other insurance programs including vision
      and
      health, paid vacations, 401K and similar  plans or programs, subject
      in each case to the generally applicable terms and conditions of the plan
      or  program in question and to the determinations of any committee
      administering such plan or program.  On  termination of the
      Executive for any reason, the Executive will retain all of Executive’s rights to
      benefits  that have vested under such plan, but the Executive’s rights
      to participate in those plans will cease on the  Executive’s
      termination, except as otherwise required by law.   The Company
      will arrange for a term life insurance package comprising a total benefit of
      $1.5 Million, of which, the estate of Executive will be the beneficiary of
      $750,000 and the Company and/or its Lender as they may agree and as their
      interests may appear, will be the beneficiary of $750,000 in the nature of
“key
      man” insurance, provided, however, that the total premium for such package shall
      not exceed $10,000 per year.

    


    3.4   Withholding
      of Taxes

    


    The
      Executive understands that the services to be rendered by Executive under this
      Agreement will  cause the Executive to recognize taxable income, which
      is considered under the Internal Revenue Code of  1986, as amended,
      and applicable regulations thereunder as compensation income subject to
      the  withholding of income tax (and Social Security or other
      employment taxes).  The Executive hereby  consents to the
      withholding of such taxes as are required by the Company.

    


    3.5   Vacation

    


    During
      the term of this Agreement, Executive will be entitled to three weeks paid
      vacation time per year.

    


    3.6   Expenses

    


    During
      the term of this Agreement, Company will reimburse Executive for Executive’s
      reasonable  out-of-pocket expenses incurred in connection with
      Company's business, including travel expenses, food,  and lodging
      while away from home, subject to such policies as Company may from time to
      time  reasonably establish for its employees.

    


    3.7   Automobile
      and Company equipment

    


     The
      Company recognizes the Executive’s need for an automobile and other
      communication and information technology devices for business
      purposes.  Therefore, during the term of this Agreement, the Company
      shall provide the Executive with an automobile allowance of $500 per month
      for
      fuel, maintenance, repairs, insurance, and other costs.  Company will
      also provide executive with with an allowance of $400 per month
      for  cell phone usage including mobile internet, personal professional
      fees, home office,  and with a laptop computer and GPS at reasonable
      cost to the Company.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    4.    Severance
      Compensation

    


    4.1   Termination
      Other Than for Cause; Termination for Good Reason

    


    In
      the
      event Executive’s employment is terminated by the Company  in a
      Termination Other Than for Cause, or by Executive in a Termination for Good
      Reason, Executive will be paid as severance pay an amount equal to sixty percent
      (60%) of Executive’s Base Salary for the period commencing on the date
      that  Executive’s employment is terminated and ending on the
      Termination Date, on the dates specified in Section 3.1 for payment of
      Executive’s then current Base  Salary.

    


    4.2   Termination
      for Disability

    


     In
      the event Executive’s employment is terminated because of Executive’s disability
      pursuant to  Section 2.5, Executive will be paid as severance pay
      Executive’s Base Salary for the period commencing  on the date that
      Executive’s employment is terminated and ending on the earlier of one year from
      such date or forty-two (42) months from the date of this Agreement, on the
      dates
      specified in Section 3.1 for payment of  Executive’s Base
      Salary.

    


    4.3   Other
      Termination

    


    In
      the
      event of a Voluntary Termination, or Termination for Cause, Executive will
      not
      be entitled to any severance pay.

    


    5.    Confidentiality
      and Non-Compete

    


    (a)       Because
      of Executive’s employment by Company, Executive will have access to trade
      secrets and  confidential information about Company, its products, its
      technology, its customers, and its methods of doing business
      (the  "Confidential Information").  During and after the
      termination of Executive’s employment by the  Company, Executive may
      not directly or indirectly disclose or use any such Confidential
      Information;  provided, that Executive will not incur any liability
      for disclosure of information which (a) is required in  the course of
      Executive’s employment by the Company (or any affiliate of the Company, provided
      that such disclosure does not violate any obligation of the Company to a third
      party), (b) was permitted in writing by  the Board or (c)
      is  within the public domain or comes within the public domain without
      any breach of this Agreement.

    


    (b)           In
      connection with employment of Executive, Executive acknowledges that his service
      on behalf of Company will result in familiarity with Company's Confidential
      Information,  as well as frequent contact with customers of Company
      which will result in the association of the good will of Company with
      Executive.  Company's Confidential Information  and the
      relationships which Company builds with its customers are significant assets
      owned by Company which Company has developed by a substantial investment of
      time, effort and expense.  Company has a legitimate interest in (i)
      its Confidential Information, and (ii) the identity of the customers with whom
      it does business;.  Company intends to protect its interests by means
      of enforcement of the restrictive covenant set forth in this
      Section.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    (c)           During
      the term of Executive’s employment and for a period of two years
      thereafter,  Executive agrees that Executive will not, directly or
      indirectly, individually or on behalf of any other entity, solicit, or accept
      employment with any person, company, firm or corporation (for profit or not
      for
      profit) which is engaged in the production and sale
      of  instrumentation, data acquisition systems, high-speed production
      tablet press replication and tablet press control systems for the pharmaceutical
      industry.  During such time Executive will not solicit the services of
      any employees of or consultants to the Company.

    


    (d)           Executive
      acknowledges that breach of the restrictive covenant set forth in this Section
      will result in irreparable and continuing damage to Company for which money
      damage may not provide adequate relief.  Executive therefore, agrees
      that breach of this restrictive covenant shall entitle Company to seek
      injunctive relief and money damages insofar as they can be determined under
      the
      circumstances.

    


    (e)           Nothing
      in this Agreement shall be construed to prohibit Company from availing itself
      of
      any other remedy, in law or equity, arising out of breach of agreement by
      Executive, and the parties agree that all remedies available to Company are
      cumulative.  If the periods of time or the area specified in this
      Section are adjudged to be unreasonable in any proceeding, then the period
      of
      time shall be reduced by such number of months or the scope of non-competition
      reduced, such that such restrictions may be enforced for such time and such
      scope as adjudged to be reasonable.  This agreement shall be governed
      by the laws of the state of New Jersey, without regard to choice of law
      principles.

    


    6.    Assignment
      of Inventions

    


    Except
      to
      the extent otherwise governed by agreements to which the Company is a party,
      all
      processes, inventions, patents, copyrights, trademarks, and other intangible
      rights (collectively the  "Inventions") that may be conceived or
      developed by Executive, either alone or with others, during the  term
      of Executive’s employment, whether or not conceived or developed during
      Executive’s working  hours, and with respect to which the equipment,
      supplies, facilities, or trade secret information of Company  was
      used, or that relate at the time of conception or reduction to practice of
      the
      Invention to the business of  the Company or to Company's actual or
      demonstrably anticipated research and development, or that
      result  from any work performed by Executive for Company, will be the
      sole property of Company, and  Executive hereby assigns to the Company
      all of Executive’s right, title and interest in and to
      such  Inventions.   Executive must execute all
      documents,  including patent applications and assignments, required by
      Company to establish Company's rights under  this
      Section.

    


    7.    Miscellaneous

    


    7.1   Waiver

    


    The
      waiver of any breach of any provision of this Agreement will not operate or
      be
      construed as a  waiver of any subsequent breach of the same or other
      provision of this Agreement.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    7.2   Entire
      Agreement; Modification

    


    Except
      as
      otherwise provided in the Agreement,  this
      Agreement  represents the entire understanding among the parties with
      respect to the subject matter of this Agreement,  and this Agreement
      supersedes any and all prior understandings, agreements, plans, and
      negotiations,  whether written or oral, with respect to the subject
      matter hereof, including without limitation, any  understandings,
      agreements, or obligations respecting any past or future compensation,
      bonuses,  reimbursements, or other payments to Executive from
      Company.  All modifications to the Agreement must  be in
      writing and signed by the party against whom enforcement of such modification
      is
      sought.

    


    7.3   Notice

    


    All
      notices and other communications under this Agreement must be in writing and
      must be given by  personal delivery, nationally recognized overnight
      courier service, or first class mail, certified or registered with return
      receipt  requested, and will be deemed to have been duly given upon
      receipt if personally delivered, upon delivery by overnight courier
      service,  five  days after mailing, if mailed, to the
      respective persons  named below:

     

    
      
        	
                If
                  to Company:

              	
                Metropolitan
                  Computing Corporation.

              
	
                 

              	
                6
                  Great Meadow Lane

              
	 	
                East
                  Hanover , New Jersey 07936

              
	 	 
	 	 
	 	 
	
                If
                  to Executive:

              	
                Michael
                  Levin

              
	 	
                2
                  Underwood Road

              
	 	
                West
                  Orange, NJ 07052

              


      

    

     

    Any
      party
      may change such party's address for notices by notice duly given pursuant to
      this Section.

    


    7.4   Headings

    


    The
      Section headings of this Agreement are intended for reference and may not by
      themselves  determine the construction or interpretation of this
      Agreement.

    


    7.5   Governing
      Law

    


    This
      Agreement is to be governed by and construed in accordance with the laws of
      the
      State of  New Jersey applicable to contracts entered into and wholly
      to be  performed within the State of New Jersey by New Jersey
      residents.  Any controversy or claim arising out of or relating to
      this Agreement, or the formation, interpretation, enforcement or breach, of
      this
      Agreement , other than requests for injunctions or preliminary relief, shall
      be
      settled by arbitration  in Morristown, NJ  by a single
      arbitrator in  accordance with the Commercial Arbitration Rules of the
      American Arbitration Association utilizing Expedited Procedures.  The
      arbitration award shall be final and binding regardless of whether one of the
      parties fails or refuses to participate in the arbitration and shall be
      enforceable by any court having jurisdiction. Each party will pay the fees
      of
      his own attorneys, and the expenses of his or her witnesses and all other
      expenses connected with presenting  his case.  Other costs
      of the arbitration, including the cost of any record or transcripts of
      the  arbitration, administrative fees, and all other fees and costs,
      will be borne  equally by the parties.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    7.6   Survival
      of Company's Obligations

    


    This
      Agreement will be binding on, and inure to the benefit of,  the
      executors, administrators, heirs,  successors, and assigns of the
      parties; provided, however, that this Agreement may not be assigned by
      Executive.

    


    7.7   Counterparts

    


    This
      Agreement may be executed in one or more counterparts, all of which taken
      together will  constitute one and the same Agreement.

    


    


    7.8   Enforcement

    


    If
      any
      portion of this Agreement is determined to be invalid or unenforceable, that
      portion of this  Agreement will be adjusted, rather than voided, to
      achieve the intent of the parties under this Agreement.

    


    7.9   Indemnification

    


    The
      Company agrees that it will indemnify and hold the Executive harmless to the
      fullest extent  permitted by New Jersey law from and against any loss,
      cost, expense or liability resulting from or by reason  of the fact of
      the Executive’s employment hereunder, whether as an officer, employee, agent,
      fiduciary,  director or other official of the Company, except to the
      extent of any expenses, costs, judgments, fines or  settlement amounts
      which result from conduct which is determined by a court of competent
      jurisdiction to  be knowingly fraudulent or deliberately
      dishonest

    


    IN
      WITNESS WHEREOF, the parties hereto
      have executed this Agreement as of the day and year first
      above  written.

    


    METROPOLITAN
      COMPUTING
      CORPORATION

    


    
      
        	 	 
	
                
                          By:
                    _____________________

                

              	
                _____________________

              
	 	 Michael
                Levin
	
                Title:
                  ___________________