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                                                                   Exhibit 10.8

                              EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT ("Agreement") dated as of the 11th day of September,
2001 (the "Effective Date") is made and entered into by and between The A
Consulting Team, Inc. and its affiliates, associated companies, subsidiaries,
parent, divisions or related entities (collectively "Company"), a New York
corporation, having its principal place of business at 200 Park Avenue South,
New York, New York 10003 and Richard Falcone ("Employee"), an individual
residing at 5 Blossom Hill, Colts Neck, New Jersey .

         1.       The Company hereby employs Employee as Chief Financial
                  Officer. Employee will be based in the metropolitan New York
                  area, and TACT will provide Employee with an office and
                  appropriate computer and communications at both of its offices
                  in that area. Employee hereby accepts employment in such
                  capacity and conditions as hereinafter set forth.

         2.       The initial term of this Agreement is for one (1) year,
                  commencing on the Effective Date reflected above (the "Initial
                  Term"). This Agreement shall automatically renew for
                  subsequent one-year terms, unless and until terminated by
                  either party in accordance with the provisions of Section 8
                  hereof. The entire period this Agreement remains in effect is
                  hereinafter referred to as the "Employment Period".

         It is expressly understood and agreed that any changes in the
         Employee's compensation, duties, location or title will not invalidate
         this Agreement. At the option of the parties, such changes may be
         incorporated into an "Addendum" to this Agreement. Failure to so
         incorporate such changes will not affect the validity of, or the
         enforceability of, terms herein.

         3.       The Company shall pay to Employee the following compensation
                  for all the services to be rendered by Employee in any
                  capacity:

         An initial gross salary at the rate of $200,000.00 per year (annual
         base salary) payable twice a month, less all applicable and required
         federal, state, local and authorized deductions.

         Upon approval by the Board of Directors, Company shall grant to
         Employee options to purchase 36,000 shares of Company Common Stock in
         accordance with the terms of Company's Stock Option and Award Plan. The
         options will vest in three equal installments with the first
         installment vesting on June 1, 2002. Notwithstanding the foregoing, in
         the event a "Sufficient Reason" event occurs as defined hereinafter,
         such grant shall become immediately vested and exercisable.



         Employee and TACT will jointly develop an annual bonus plan.

         Employee shall be entitled to sick days and personal days in accordance
         with TACT's then current PTO policy for a Chief Financial Officer
         position.

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         4.       Employee shall perform such work as may be required of
                  Employee by Company in accord with the instructions,
                  directions and control of Company and at such reasonable time
                  and places as Company may determine. At all times during the
                  Employment Period, Employee shall strictly adhere to all the
                  rules and regulations that have been or that may hereafter be
                  established by Company for the conduct of its employees and
                  further, Employee shall strictly adhere to all the provisions
                  of the Company's handbook(s).


         5.       Employee hereby consents to the conducting of a background
                  check by Company and/or Company's broker, customer and/or
                  client to the full extent permitted by law. Such a background
                  check may include, but shall not be limited to a judgement and
                  public criminal record check, fingerprinting, and drug and/or
                  alcohol screening. The Employee agrees not to hold Company
                  and/or its broker(s), customer(s) and/or client(s) liable for
                  any claims in connection with such checking or testing or the
                  reporting of the results thereof to Company.

         6.       Employee shall devote full and complete attention and energies
                  to the business of Company, and shall not during the term of
                  this Agreement be engaged in any other business activity,
                  whether or not such business activity is pursued for gain,
                  profit or other pecuniary advantage and whether or not said
                  other business activity is directly, indirectly or unrelated
                  to the business activity of Company, without the express
                  written consent of Company. However, this shall not be
                  construed as preventing Employee from investing Employee's
                  assets in such form or manner as will not require any services
                  on Employee's part in the operation of the affairs of the
                  companies in which such investments are made; provided,
                  however, that any investment in any non-public companies shall
                  not be in companies having allied or related business
                  activities to Company.

         7.       The Company will reimburse Employee for expenses incurred by
                  Employee in the course of this employment provided that such
                  expenses are reimbursable by Company policy, and further, such
                  expenses are authorized by Company and an accounting is made
                  to Company therefore, in accordance with the procedures of
                  Company pertaining thereto.


         8.       The Employment Period shall be terminated at the time of the
                  death of Employee or may be terminated by Company if Employee
                  shall fail to render the services provided for hereunder for a
                  continuous period of sixty (60) days because of Employee's
                  physical or mental disability. Notwithstanding anything to the
                  contrary herein, either party may terminate the Employment
                  Period, with or without cause and for any reason whatsoever,
                  by giving ten (10) days prior notice to the other party. In
                  the event Company terminates Employee without Cause, Employee
                  shall be entitled to receive as severance an amount equal to
                  three (3) months of Employee's then current base salary. For
                  purposes of this Section 8, "Cause" shall mean: (a) Employee's
                  embezzlement, willful breach of fiduciary duty or fraud with
                  regard to Company or any of Company's assets or businesses,
                  (b) Employee's conviction of, or pleading of nolo contendere
                  with regard to a felony (other than a traffic violation) or
                  any other crime involving moral turpitude and involving
                  activity related to the affairs of Company, or (c) any other
                  breach by Employee of a material provision of this Agreement
                  that remains uncured for thirty (30) days after written notice
                  thereof is given to Employee. In the event Company terminates
                  the Employment Period for Cause, Company's sole obligation is
                  to pay Employee for that period actually worked by Employee
                  (plus any commissions due for that period, if applicable).
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         Employee or Company may terminate the Employment Period for "Sufficient
         Reason" in accordance with the provisions hereof. For purposes of this
         Agreement, Sufficient Reason shall mean a direct or indirect change in
         the ownership or control of Company by purchase, merger, consolidation,
         reorganization, lease, exchange, transfer or sale of all or
         substantially all of the assets and/or outstanding stock of Company,
         taking the Company private, or any other business transaction involving
         Company or any combination of the foregoing transactions which results
         in any material demotion of Employee and/or any material reduction in
         Employee's authority or responsibilities. In the event Employee or
         Company terminates this Agreement for Sufficient Reason, Employee shall
         be entitled to receive as severance an amount equal to six (6) months
         of Employee's then current base salary if Employee's termination
         happens within the first twelve months after the event-giving rise to
         the Sufficient Reason occurs.

         9.       Employee recognizes and acknowledges that Company's trade
                  secrets, customer/broker/client lists, private processes,
                  prospective customer/broker/client lists, and staff and
                  prospective staff lists are deemed to be the private and
                  proprietary information of Company and are available, special,
                  unique and significant proprietary assets of Company's
                  business. Employee will not either during or subsequent to the
                  Employment Period, in whole or in part, disclose such trade
                  secrets, customer/broker/client lists, staff or prospective
                  staff lists, prospective customer/broker/client lists or
                  private processes to any person, firm, corporation,
                  association or other entity for any reason or purpose
                  whatsoever. In addition, Employee shall not make use of any of
                  the above for Employee's own purposes or for the benefit of
                  any person, firm, corporation, or other entity other than
                  Company under any circumstances during the Employment Period
                  or subsequent to employment.


         10.      Employee agrees that during the Employment Period and for a
                  period of one (1) year thereafter, Employee will not directly
                  or indirectly, or in any capacity, individually or in any
                  corporation, firm, association or other business entity,
                  compete or attempt to compete with Company, any parent,
                  subsidiary, or affiliate of Company, or any corporation merged
                  into, or merged or consolidated with Company (a) by soliciting
                  business from any customer, broker and/or client of Company
                  with which Employee was involved (directly or indirectly)
                  during the Employment Period, if such solicited business
                  competes with the business of Company, or (b) inducing any
                  personnel of Company to leave the service of Company, or by
                  employing or contracting with any such personnel. The
                  provisions of this Section 10 shall be construed as an
                  Agreement independent of any other provision contained herein
                  and shall be enforceable in both Law and Equity, including by
                  temporary or permanent Restraining Orders, notwithstanding the
                  existence of any claim or cause of action by Employee against
                  Company, whether predicated on this Agreement or otherwise.

         11.      Employee hereby agrees to assign all rights, title, and
                  interest in all writings, products, inventions, discoveries,
                  developments, improvements, ideas, technical notes, programs,
                  specifications, computer or other apparatus programs and
                  related documentation, and other works of authorship, tangible
                  and intangible property, whether or not patentable,
                  copyrightable or subject to other forms of protection, made,
                  created, developed, discovered, written or conceived by
                  Employee, solely or jointly with another, in whole or in part,
                  for either Company and/or Company's customer(s), broker(s)
                  and/or client(s) during the Employment Period, whether during
                  or outside of regular working hours, and to promptly deliver
                  to Company all such tangible properties and work products at
                  the request of Company. Employee shall not be entitled to any
                  compensation in addition to the amount set forth in Section 3
                  of this Agreement by reason of said assignment.
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         12.      Employee shall, upon termination of employment with Company,
                  immediately return to Company all equipment and supplies of
                  Company and all books, records, lists and other written, typed
                  or printed materials, whether furnished by Company or prepared
                  by Employee, which contain any information relating to
                  Company's business or any of its customers, brokers and/or
                  clients, and Employee agrees that Employee will neither make
                  nor retain copies of such materials after termination of
                  employment.

         13.      Employee hereby authorizes Company, at any time, to offset and
                  deduct against any and all monies due to Employee by Company,
                  whether for salary or other remuneration to the full extent
                  allowed by law, any and all monies owed by Employee to Company
                  for any reason whatsoever, including, but not limited to the
                  correction of payroll errors, the repayment of monetary
                  advances, the reimbursement of tuition or training costs, and
                  the recoupment of auto allowances, relocation expenses,
                  expenses, and/or advanced vacation time.

         14.      The failure of either party to insist upon the performance of
                  any of the provisions of this agreement, or the waiver of any
                  breach thereof, shall not be construed as or constitute a
                  waiver of the rights granted herein with respect to any
                  subsequent forbearance or breach.

         15.      Both Parties hereto do hereby consent to jurisdiction in the
                  State of New Jersey with regard to all controversies which may
                  arise with respect to the execution, interpretation of and
                  compliance with the terms and provisions of this Agreement;
                  and both Parties hereto agree that New Jersey Law applies and,
                  in addition, waive any other venue or forum which they might
                  otherwise be entitled by virtue or domicile or otherwise.

         16.      This Agreement shall be binding upon and inure to the benefit
                  of the parties hereto and any successor to the business of
                  Company, but neither the Agreement nor any rights hereunder
                  may be assigned, pledged or encumbered by Employee without the
                  written consent of Company. This Agreement may not be changed,
                  modified or terminated orally.

                  This Agreement supersedes any prior agreements made between
                  the parties, whether oral or written, and constitutes that
                  final and entire agreement and understanding of the parties,
                  all prior representations and agreements having been merged
                  into this Agreement, and this Agreement shall amend, restate
                  and replace all prior employment agreements entered into
                  between Company and Employee. No waiver or modification of
                  this Agreement or of any covenant, condition, or limitation
                  herein contained shall be valid unless in writing and duly
                  executed by the party to be charged therewith and no evidence
                  of any waiver or modification shall be offered or received in
                  evidence in any proceeding, arbitration or litigation between
                  the parties hereto arising out of or affecting this Agreement,
                  or the rights or obligations of the parties hereunder, unless
                  such waiver or modification is in writing, duly executed as
                  aforesaid, and the parties agree that the provisions of this
                  Section 16 may not be waived except as herein set forth.

         17.      All agreements and covenants contained herein are severable,
                  and in the event any of them shall be held to be invalid by
                  any competent court, this Agreement shall be interpreted as if
                  such invalid agreements or covenants were not contained
                  herein.
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         18.      Employee hereby represents and warrants that the execution of
                  this Agreement by Employee and the performance of Employee's
                  duties and obligations hereunder will not breach or be in
                  conflict with any other agreement to which Employee is a party
                  or by which Employee is bound, and that Employee is not now
                  subject to any covenant against competition or similar
                  covenant which would affect the performance of Employee's
                  duties hereunder. Employee hereby agrees to indemnify Company
                  for all claims arising out or related to Employee's breach of
                  this Section 18.

         19.      All disputes, controversies, or differences arising in
                  connection with the validity, execution, performance, breach,
                  non-renewal or termination of this Agreement shall be finally
                  settled in an arbitration proceeding under the Rules of the
                  American Arbitration Association by three arbitrators with
                  expertise in employment and labor law in accordance with the
                  Commercial Arbitration Rules then in effect of the American
                  Arbitration Association. Selection of the arbitrators shall be
                  as follows: each party shall appoint one arbitrator within
                  twenty (20) days after the parties have agreed to go to
                  arbitration, and those two arbitrators shall appoint a third
                  arbitrator who shall act as chairman, within a twenty (20) day
                  period thereafter. If the parties fail to appoint the chairman
                  within said period, the parties will apply to the American
                  Arbitration Association for appointment of the third
                  arbitrator. The parties agree to be bound by the findings of
                  the arbitration. Notwithstanding the foregoing, the courts
                  shall have jurisdiction over injunctive or provisional relief
                  pending arbitration. The arbitrators shall only be empowered
                  to award direct damages. In no event shall the arbitrators be
                  permitted to award special, consequential, indirect,
                  incidental or punitive damages or lost profits. The
                  non-prevailing party to the arbitration shall pay all the
                  prevailing party's expenses of the arbitration, including
                  reasonable attorneys' fees and other costs and expenses
                  incurred in connection with the prosecution or defense of such
                  arbitration.

         20.      Any offer, notice, or request or other communication hereunder
                  shall be in writing and shall be deemed to have been duly
                  delivered if hand or mailed by registered or certified mail,
                  return receipt requested, addressed to the respective address
                  of each party herein set forth, or to such other address as
                  each party may designate by a notice pursuant hereto:


If to Company:            The A Consulting Team, Inc.
                          200 Park Avenue South
                          New York, New York 10003
                          Attention:  Shmuel Bentov, Chief Executive Officer
                          cc: Lori Stanley, General Counsel

If to the Employee:       Richard Falcone
                          5 Blossom Hill
                          Colts Neck, New Jersey


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IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of
the Effective Date.


COMPANY                                     EMPLOYEE

By:  /s/ Shmuel BenTov                      By: /s/ Richard D. Falcone
       Shmuel BenTov                              Richard D. Falcone