EXHIBIT 10.1

                         EXECUTIVE EMPLOYMENT AGREEMENT

      THIS EXECUTIVE EMPLOYMENT AGREEMENT (this "Agreement") is made and entered
into as of this 4th day of August,  2006 by and  between  ISECURETRAC  CORP.,  a
Delaware  corporation  having its principal  offices at 5078 South 111th Street,
Omaha, NE 68137 (hereinafter  referred to as the "Company") and PETER A. MICHEL,
an individual residing in Alexandria,  Virginia  (hereinafter referred to as the
"Executive").

                                   WITNESSETH:

      WHEREAS, the Executive has demonstrated unique qualifications to act in an
executive  capacity for the Company,  and the Company  expects that  Executive's
contribution will be substantial and meritorious; and

      NOW THEREFORE,  in  consideration  of the foregoing,  the mutual covenants
contained  herein,  and other good and valuable  consideration,  the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:

      1.  Employment.  The  Company  agrees to  employ  the  Executive,  and the
Executive agrees to accept such employment,  all in accordance with the terms of
this Agreement.

      2. Capacity and Duties. (a) The Executive shall serve as the President and
Chief  Executive  Officer of the Company and shall be appointed as a Director of
the Company.  The Executive  shall perform the duties of the President and Chief
Executive  Officer  of the  Company  as set forth in its  Bylaws  and such other
duties  as are  reasonably  assigned  to him by the  Board of  Directors  of the
Company (the  "Board").  The Executive will carry out such duties to the best of
his ability in a diligent,  trustworthy,  businesslike  and efficient manner for
the purposes of advancing the business of the Company. Executive will devote not
less than an average  of 50 hours per week to the  business  and  affairs of the
Company. It is acknowledged that Employee currently serves as a director of or a
consultant to the other  organizations  identified in Schedule A hereto,  and he
may devote a reasonable  amount of time to these  organizations,  and such other
organizations as approved by the Board, provided that it does not interfere with
his  obligations  to the Company.  Through  January 31, 2007,  Executive will be
expected  to spend  not  less  than 75% of his  business  time at the  Company's
headquarters  in Omaha,  Nebraska  except  for time  spent out of the  office as
necessitated by (i) potential  acquisitions or similar corporate transactions or
(ii) the existing Dallas, Texas truancy project.  Thereafter,  Executive will be
expected  to spend  not  less  than 50% of his  business  time at the  Company's
headquarters in Omaha, Nebraska.

      (b) Executive shall comply with the Company's rules and regulations as may
be set forth in the Company's Employee Handbook, or similar document.  Executive
also agrees that he shall not in his  personal  capacity  take  advantage of any
business  opportunities  that arise during his  employment  that may benefit the
Company and relate to the Company's ongoing  business.  Executive further agrees
that all reasonable facts regarding such  opportunities must be forwarded to the
Board for consideration and approval.  In the event Executive  observes unlawful
acts or practices by the Company,  he shall promptly  notify the Chairman of the
Board of Directors.  If the Executive is elected as a director of the Company or
as a director of any of the Company's affiliates or subsidiaries,  the Executive
will fulfill his duties as such director  without any  additional  compensation.
With respect to the issuance and sale of any  securities  issued by the Company,
Executive  shall restrict his  participation  in such sales to those  activities
permitted by Rule  3a-4-l(a)(4)(ii)  or (iii) of the Securities and Exchange Act
of 1934 and Rule 144 promulgated under the Securities Act of 1933.

<PAGE>

      3. Term. The term of  Executive's  employment  hereunder (the  "Employment
Period") shall commence on the date hereof ("Effective Date") and continue on an
indefinite basis, unless earlier terminated hereunder.

      4. Compensation.

            (a) Salary.  For all services  rendered by the Executive  under this
      Agreement,  the Company  shall pay the  Executive an annual  salary of Two
      Hundred Twenty-Five Thousand Dollars ($225,000) ("Salary").

            (b)  Bonuses.  Executive  and the Board  shall  agree,  on an annual
      basis,  to a bonus plan under  which  Executive  may earn a bonus of up to
      fifty  percent  (50%)  of his  Salary.  Such  plan  shall be tied to goals
      mutually established by the Board and the Executive.  For the remainder of
      fiscal year 2006,  Executive  shall receive a bonus equal to $46,875 if he
      remains an employee of the Company through December 31, 2006.

            (c) Expenses.  To the extent not otherwise  paid for by the Company,
      the Company will  reimburse  the Executive  for  reasonable  and necessary
      expenses incurred in promoting the Company's business,  including expenses
      for travel and  entertainment,  including  the cost of commuting to Omaha,
      Nebraska,  such reimbursement to be made periodically upon presentation of
      appropriate receipts or other substantiation.

            (d) Omaha Housing and Automobile. The Company will provide Executive
      with a furnished apartment in the Omaha,  Nebraska metropolitan area and a
      leased  automobile for his use while he is in Omaha. The aggregate cost of
      such apartment and automobile will not exceed $2,500 per month and will be
      subject to withholding and W-2 reporting.

            (e)  Consulting  Agreement.  The  Company  pay  all  amounts  due to
      Executive  (or an  entity  controlled  by him)  pursuant  to the May  2006
      Consulting Agreement between the Company and the Executive.

            (f)  Employee  Benefit  Plans.  The  Executive  will be permitted to
      participate  in such  pension,  profit  sharing,  bonus,  life  insurance,
      hospitalization,  major medical, vacation and other employee benefit plans
      of the Company that may be in effect from time to time, to the extent that
      the  Executive is eligible  under the terms of those plans.  Unless stated
      otherwise in this  Agreement,  Executive's  benefits  under any such plans
      shall be the same as those extended to other  employees of the Company and
      as may be published by the Company from time to time.


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<PAGE>

            (g) Taxes, Etc. All compensation  payable to Executive  hereunder is
      stated in gross amount and shall be subject to all applicable  withholding
      taxes and other normal payroll  deductions and any other amounts  required
      by law to be withheld.

            (h) Vacation.  Executive shall be entitled to five (5) weeks of paid
      vacation or time off ("PTO") per fiscal year of the Company, in accordance
      with the  Company's  PTO  policies,  practices,  and  procedures in effect
      during the Term. Such PTO shall,  however,  be prorated in any fiscal year
      during which  Executive is employed under this Agreement for less than the
      entire fiscal year,  in accordance  with the number of days in that fiscal
      year during which Executive is so employed. Up to five weeks of PTO may be
      carried  over to any  subsequent  fiscal  year if the  Executive  does not
      utilize his entire PTO during a previous fiscal year.

      5. Stock Incentives.

            (a) By no later than  September  15,  2006,  the  Executive  will be
      granted stock options (the "Options")  under the terms of the Company 2006
      Omnibus  Equity  Incentive  Plan (the  "Plan") for the purchase of 430,856
      shares of the Company's common stock.

            (b) The Options will have an exercise price equal to the fair market
      value of the  Company's  common stock on the grant date as  determined  in
      accordance  with the Plan.  The Options may be incentive  stock options or
      nonqualified  stock  options for  purposes of Section 422 of the  Internal
      Revenue Code of 1986, as determined by the Compensation Committee.

            (c) The Options will vest and become exercisable with respect to one
      thirty-sixth  (1/36th) of the total number of shares subject  thereto when
      the Executive completes one month of continuous service from the Effective
      Date and with respect to an additional  one  thirty-sixth  (1/36th) of the
      total number of shares  subject  thereto  when  Executive  completes  each
      additional  month of continuous  service  thereafter until all the Options
      shall have fully vested or until  termination of employee's  service.  The
      Options shall fully vest and become 100% exercisable upon (i) a "Change in
      Control'  (as  defined  in the Plan as it exists on the date  hereof,  but
      which shall  specifically  include any transaction that results in Sponsor
      Investments LLC, or an affiliate  thereof,  no longer having the authority
      to appoint a  majority  of the  directors  of the  Company),  or (ii) upon
      termination  of  Executive's  employment  by the Company for reasons other
      than for  "Cause"  (as  defined  below).  The  Options are subject to such
      reasonable  additional terms and conditions that are not inconsistent with
      this Agreement and the Plan.

            (d) The Company shall,  within a reasonable period of time, register
      the  issuance  of shares of the  Company's  common  stock  underlying  the
      Options  granted to the  Executive  pursuant  to this  Section 5. The term
      "registered"   for  the   purposes  of  this  Section  5(d)  refers  to  a
      registration effected by preparing and filing a registration  statement on
      Form S-8 in compliance  with the Securities  Act of 1933, as amended,  and
      the  declaration  or  ordering  of  effectiveness  of  such   registration
      statement.


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<PAGE>

            (e)  Notwithstanding any provision to the contrary contained herein,
      Executive acknowledges and agrees that by signing this Agreement he agrees
      not to sell any of the Company's common stock (whether  acquired  pursuant
      to this agreement or otherwise) at a time when  applicable  laws,  Company
      policies or an agreement between the Company and its underwriters prohibit
      such sale. Executive further acknowledges and agrees that this restriction
      will apply to any position that he may now, or in the future hold with the
      Company, whether as an employee,  consultant or director of the Company or
      any  subsidiary of the Company.  Company  policies  restricting  such sale
      shall no longer apply upon termination of Executive's  employment with the
      Company.

      6.  Termination by Company.  The Company shall have the right to terminate
Executive's  employment hereunder at any time for any reason or for no reason at
all upon thirty (30) days written notice to Executive.

      7.  Termination  By  Executive.  Executive  has the right to terminate his
employment  under this  Agreement  for any reason or without  reason upon thirty
(30) days prior written notice to the Company.

      8. Effect of Resignation.  Upon the termination of Executive's  employment
with the Company for any reason, Executive shall be deemed to have automatically
resigned  from any position he may hold with the Company,  including any offices
or board  memberships  with the Company and/or its  affiliates or  subsidiaries.
Such resignation shall be deemed effective  immediately  without the requirement
that a written  resignation  be  delivered.  The  Executive  shall  execute  any
agreements to further effectuate such resignations that are reasonably requested
by the Company.

      9. Compensation After Termination.

      (a) In the event the Company  terminates the  Executive's  employment with
the Company for any reason  other than  "Cause"  (as defined  below),  Executive
shall be entitled to a severance  payment in an amount  equal to one year of his
Salary in additional to any portion of his Salary that has been earned,  but not
yet paid to him, and all unused PTO time, through the date of termination.  Such
severance  payment will be paid in a single lump sum not more than 30 days after
the date of termination.  In addition,  Executive shall retain all stock options
which have vested as of the  effective  date of the  termination;  provided that
such options will expire no earlier  than one year after the  effective  date of
the  termination.   Notwithstanding  the  foregoing,  the  exercise  period  for
Executive's  vested  stock  options will be extended for one month for each full
month after one year from the  Effective  Date the  Executive is employed by the
Company  prior to  termination  as long as the number of GPS  tracking  units in
activated  service as of the date of  termination  equals or exceeds  the target
number of units set  forth in  Schedule  B hereto  for the  month  during  which
termination  occurs.  However,  in no event shall the  exercise  period for such
vested  stock  options  be  extended  for  more  than  three  years  beyond  the
termination  date. For purposes hereof, a unit shall be considered "in activated
service" if it is  installed on an offender  being  tracked by a customer of the
Company.

      (b) In the event the Company  terminates  the  Executive's  employment for
Cause, or Executive  voluntarily  terminates his employment,  Executive shall be
entitled to only that  portion of his Salary that has been  earned,  but not yet
paid to him, and all unused PTO time,  through the date of  termination  and all
options,  whether or not vested, shall immediately terminate as of the effective
date of termination of employment.


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<PAGE>

      (c) In this Agreement, "Cause" means any of the following: (i) engaging in
(A) willful or gross misconduct or (B) willful or gross neglect, (ii) repeatedly
failing to adhere to the  directions  of the Board or the written  policies  and
practices of the Company,  (iii) the  commission of a felony or a crime of moral
turpitude,  or any crime  involving the Company,  (iv) fraud,  misappropriation,
embezzlement or material or repeated  insubordination,  (v) a material breach by
the Executive of the terms of this Agreement, including the failure of Executive
to devote an average  of 50 hours per week to the  business  and  affairs of the
Company or the failure of Executive  to spend the minimum  amount of time in the
Company's  headquarters  office or traveling on Company business for the reasons
described  in  Section  2(a)  hereof  (the  "Time  Covenant"),   (other  than  a
termination of employment by the Executive), or (vi) any illegal act detrimental
to the Company,  all as determined in the sole  discretion of the Board.  If the
Company  believes that Cause for  termination  exists,  the Company shall notify
Executive  of  that  belief,  and  that  notice  shall  describe  the  event  or
circumstance  believed to  constitute  Cause for  termination.  If that event or
circumstance  may reasonably be remedied or corrected,  Executive  shall have 30
days to effect that  correction or remedy.  If not corrected or remedied  within
that 30 day period,  or if the event or  circumstance is not of a nature that it
may be remedied or corrected,  Cause for termination shall immediately be deemed
to exist,  and Executive's  employment shall be deemed  terminated.  The parties
agree that a breach of the Time Covenant may be cured by the Executive's  future
compliance  therewith  after  the  initial  notice of  breach  thereof  from the
Company,  but that  continued  breach thereof after receipt of such notice shall
not be curable.

      10. Confidential  Information.  The Executive acknowledges that he has had
and will have access to certain information related to the business, operations,
future plan and customers of the Company,  the  disclosure or use of which could
cause the Company substantial losses and damages.  Accordingly,  during the term
of this Agreement and thereafter,  Executive shall keep secret and retain in the
strictest  confidence,  and shall not,  without the prior written consent of the
Board,  furnish,  make available,  or disclose to any third party or use for the
benefit of  himself or for the  benefit  of any third  party,  any  Confidential
Information.  "Confidential  Information" shall mean any information relating to
the  business  or  affairs  of the  Company,  including,  but  not  limited  to,
information relating to financial  statements,  customer  identities,  potential
customers,   employees,   suppliers,  servicing  methods,  equipment,  programs,
strategies and  information,  analyses,  profit margins,  computer  programs and
software  (including object code and source code),  past,  current,  and planned
research and development,  market studies and business plans, all inventions and
ideas  (whether  patentable  or  unpatentable  and  whether  or not  reduced  to
practice),  trademarks and service marks,  corporate logos, or other proprietary
information  used by the Company in  connection  with its  business  operations;
provided,   however,  that  Confidential   Information  shall  not  include  any
information  which is in the  public  domain or  becomes  known in the  industry
through no wrongful act on part of the Executive.  Executive  acknowledges  that
the Confidential  Information is vital, sensitive,  confidential and proprietary
to the Company.

      11.  Inventions.  Each Invention shall belong  exclusively to the Company.
The Executive  acknowledges  that all of the  Inventions are works made for hire
and the property of the Company,  including any  copyrights,  patents,  or other
intellectual  property rights pertaining  thereto.  If it is determined that any
such  works are not works made for hire,  the  Executive  hereby  assigns to the
Company all of the Executives right,  title, and interest,  including all rights
of copyright,  patent,  and other  intellectual  property rights,  to or in such
Inventions.  The term  "Invention"  shall mean any idea,  invention,  technique,
modification,   process,  or  improvement   (whether  patentable  or  not),  any
industrial design (whether registerable or not), any mask work, however fixed or
encoded, that is suitable to be fixed, embedded or programmed in a semiconductor
product (whether  recordable or not), and any work of authorship (whether or not
copyright protection may be obtained for it) created, conceived, or developed by
the  Executive,  either  solely  or  in  conjunction  with  others,  during  the
Employment Period, or a period that includes a portion of the Employment Period,
that  relates in any way to, or is useful in any manner  in, the  business  then
being  conducted or proposed to be  conducted by the Company,  and any such item
created by the Executive, either solely or in conjunction with others, following
termination of the Executive's  employment with the Company,  that is based upon
or uses Confidential  Information  Furthermore,  the Executive covenants that he
will promptly:


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<PAGE>

      (a) disclose to the Company in writing any Invention;

      (b) assign to the Company or to a party designated by the Company,  at the
Company's request and without  additional  compensation,  all of the Executive's
right to the Invention for the United States and all foreign jurisdictions;

      (c) execute and deliver to the Company such applications, assignments, and
other  documents  as the  Company  may  request in order to apply for and obtain
patents  or other  registrations  with  respect to any  invention  in the United
States and any foreign jurisdictions;

      (d) sign all other papers  necessary  to carry out the above  obligations;
and

      (e) give  testimony  and  render  any other  assistance  in support of the
Company's rights to any Invention.

      12. Return of Company Materials Upon Termination,  Executive  acknowledges
that all price  lists,  manuals,  catalogs,  binders,  customer  lists and other
customer information,  supplier lists, financial information,  and other records
or  documents  containing  Confidential  Information,  prepared by  Executive or
coming into  Executive's  possession by virtue of Executive's  employment by the
Company is and shall  remain the  property of the Company  upon  termination  of
Executive's  employment  hereunder,  Executive shall immediately return all such
items in his possession to the Company, together with all copies thereof.

      13. Right to Injunctive Relief. The Executive agrees and acknowledges that
a violation of the covenants  contained in Sections 8, 10, 11, 12 and 15 of this
Agreement will cause irreparable damage to the Company,  and that it is and will
be  impossible  to estimate or determine the damage that will be suffered by the
Company  in the  event  of a  breach  by the  Executive  of any  such  covenant.
Therefore,  the Executive  further  agrees that in the event of any violation or
threatened  violation  of such  covenants,  the  Company  shall be entitled as a
matter of course to an  injunction  out of any court of  competent  jurisdiction
restraining such violation or threatened violation by the Executive,  such right
to an injunction to be cumulative and in addition to whatever other remedies the
Company may have.


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<PAGE>

      14.  Representation by the Executive.  The Executive hereby represents and
warrants that the execution of this Agreement and the  performance of his duties
and  obligations  hereunder  will not  breach or be in  conflict  with any other
agreement to which he is a party or by which be is bound, and that he is not now
subject to any covenant  against  competition  or similar  covenant  which would
affect the performance of his duties hereunder.

      15.  Covenant  of  Non-Competition.  Executive  agrees  that he shall not,
during the Employment Period and for a period of twelve (12) months  thereafter,
engage in any business or activities,  whether directly or indirectly,  which is
competitive with the Company.

      16. Indemnification. The Company shall indemnify Executive against any and
all expenses  (including  reasonable  attorney's  fees) incurred by Executive by
reason  of the fact  that  Executive  is or was a  director  or  officer  of the
Company,  acting within the scope of his employment  with the Company and as the
result of any action,  suit or proceeding to which Executive is, has been, or is
threatened  to be made a party,  to the fullest  extend  permitted by law and as
more  fully  described  in the  bylaws of the  Company.  To  assure  Executive's
indemnification hereunder, the Company shall maintain, at all times, a Directors
and Officers  Insurance  policy,  sufficient  to meet the  Company's  obligation
hereunder in an amount not less than  $1,000,000 or such higher amount as may be
deemed prudent from time to time.

      17. Assignment.  This Agreement is personal and shall in no way be subject
to  assignment  by the  Executive or the Company  without the  permission of the
other provided,  however, that the Company shall have the right to assign all or
any part of its rights or obligations  under this Agreement to (i) any affiliate
or subsidiary of the Company,  or (ii) the purchaser of all or substantially all
of the assets of the Company.

      18. Enforceability. If any portion or provision of this Agreement shall to
any extent be declared  illegal or  unenforceable  by a duly authorized court of
competent jurisdiction, then the remainder of this Agreement, or the application
of such portion or provision in circumstances other than those as to which it is
so declared illegal or unenforceable,  shall not be affected  thereby,  and each
portion and provision of this  Agreement  shall be valid and  enforceable to the
fullest extent permitted by law.

      19. Notices.  All notices and  communications  required or permitted to be
given  hereunder shall be given by delivering the same in hand or by mailing the
same by certified or registered mail, return receipt requested, postage prepaid,
as follows:

      If sent to the Company, to:           iSecureTrac Corp.
                                            Attn: Chairman of the Board
                                            5078 South 111th Street
                                            Omaha, Nebraska 68137
                                            Facsimile No.: (402) 537-9847


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      If to the Executive:                  Peter A. Michel
                                            1109 Gatewood Drive
                                            Alexandria, VA  22307

or such other address as either party shall have  furnished to the other by lice
notice. Notices shall be effective as of the date of such delivery or mailing.

      20. Entire Agreement.  This Agreement constitutes the entire agreement and
understanding  between the parties in relation to the subject  matter hereof and
there are no promises, representations,  conditions, provisions or terms related
thereto other than those set forth in this Agreement.  This Agreement supersedes
all previous understandings,  agreements and representations between the Company
and the Executive regarding the Executive's  employment by the Company,  written
or oral.

      21. Governing Law. This Agreement shall be construed under and be governed
in all respects by the internal laws,  and not the laws  pertaining to choice or
conflicts of law, of the State of Delaware.

      22.  Waiver;  Amendment.  No  waiver in any  instance  by any party of any
provision  of this  Agreement  shall be  deemed a waiver  by such  party of such
provision in any other instance or a waiver of any other provision  hereunder in
any instance.  This Agreement cannot be modified except by written  amendment to
this  Agreement  duly  executed  by  both  parties.   Any  oral   agreements  or
understandings between Executive and the Company intended to modify the terms of
this Agreement shall be null and void.

      23. Counterparts. This Agreement may be executed in multiple counterparts,
each of which shall be deemed an original, but all of which taken together shall
constitute one in the same Agreement.

      24. Headings.  Interpretation.  The descriptive headings in this Agreement
are inserted for  convenience  of reference only and are not intended to be part
of or affect the meaning or  interpretation  of this  Agreement.  The use of the
word  "including"  in this  Agreement  shall be by way of example rather than by
limitation.

      25.  Survival.  Sections 8, 9, 10, 11, 12, 13, 14 and 15 shall survive and
continue in full force and effect in accordance  with their terms and conditions
notwithstanding any termination of the Executive's employment hereunder.


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      IN WITNESS  WHEREOF,  Company has caused its duly  authorized  officers to
execute this Agreement,  and Executive has executed this Agreement as of the day
and year first above written.

                                        ISECURETRAC CORP.

                                        /s/ Roger Kanne
                                        -------------------
                                        Roger Kanne,
                                        On behalf of the Board


                                        EXECUTIVE

                                        /s/ Peter A. Michel
                                        -------------------
                                        Peter A. Michel


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