Document:

EMPLOYMENT AGREEMENT

      Employment Agreement ("Agreement"), dated as of January 2, 2007, by and
between Carmen Laverghetta, an individual with an address at
__________________________ ("Executive"), and Benefit Dynamics, Inc., a
Pennsylvania corporation with its principal office located at
________________________ (the "Company").

                                    RECITALS

      A. Pursuant to that certain Stock Purchase Agreement entered by and
between National Investment Managers Inc. ("NIM"), the Company, Jo Ann Massanova
and Carmen Laverghetta dated January __, 2007 (the "Purchase Agreement"),
contemporaneously with the execution of this Agreement, the Company was acquired
by NIM.

      B. Pursuant to the Purchase Agreement, NIM has agreed to cause the Company
to retain Executive as an employee during the Term (as defined below).

      C. Executive desires to be employed by the Company during the Term, all
upon the terms and conditions set forth herein.

      NOW, THEREFORE, the Company and Executive agree as follows:

1 Engagement; Duties. Subject to the terms and conditions set forth herein, the
Company shall employ Executive, and Executive shall serve the Company, as
Assistant Vice President during the Term (as defined in Section 2). In such
capacity, Executive shall perform duties and be assigned responsibilities that
are substantially similar to those performed by the Executive immediately prior
to the date hereof and as may be assigned to Executive from time to time. During
the Term, the Executive shall report to the Vice President of the Company.
During the Term, Executive shall use Executive's reasonable efforts to promote
the interests of the Company, shall perform Executive's duties faithfully and
diligently, consistent with sound business practices and shall devote
Executive's "full business time" to the performance of Executive's duties for
the Company in accordance with the terms hereof. For purposes of this Section 1,
"full business time" shall mean an average of forty (40) hours per week during
the Term (as defined below).

2 Term. Unless this Agreement is terminated pursuant to Section 5, the term of
this Agreement ("Term") shall be for a period of two (2) years.

3 Compensation. As consideration for the performance by Executive of Executive's
obligations under this Agreement, the Company shall pay Executive a base salary
as follows:

      (A) During the Term, the Company shall pay Executive a base salary ("Base
Salary") at the annual rate equal to Ninety Thousand Dollars ($90,000).

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      (B) The Base Salary shall be payable in accordance with the Company's
normal payroll policy. The Company shall deduct from the Base Salary any
federal, state or local withholding taxes, social security contributions and any
other amounts which may be required to be deducted or withheld by the Company
pursuant to any federal, state or local laws, rules or regulations.

4 Reimbursement of Expenses; Fringe Benefits.

      (A) Expenses. During the Term, the Company shall reimburse Executive for
ordinary and necessary business expenses incurred by Executive in the
performance of Executive's duties on behalf of the Company and that any such
individual expenses in excess of $250 are approved in advance in writing by the
Chief Financial Officer of NIM.

      (B) Fringe Benefits. During the Term, Executive shall be entitled to those
fringe benefits and perquisites that are provided to other executives of the
Company generally, including any health or other insurance, pension and/or
retirement, or welfare plan. Notwithstanding the foregoing, the parties
acknowledge and agree that Executive shall not be entitled to fringe benefits
and perquisites identified as non-recurring on Exhibit A annexed hereto.

      (C) Vacation. Executive shall be entitled to four (4) weeks paid vacation
days during each calendar year of the Term, pro-rated for any partial calendar
year, at such times as are mutually agreed upon by Executive and NIM.

5 Termination. The Company may terminate this Agreement upon Executive's death,
and may terminate this Agreement at any earlier time at the option of the
Company due to Executive's Disability (as defined below) or for Cause (as
defined below).

      (A) As used in this Agreement:

            (i) The term "Disability" means the inability of Executive
substantially to perform her duties and obligations under this Agreement for
fourty-five (45) consecutive days or forty-five (45) days in any one hundred
twenty (120)-day period because of any mental or physical incapacity.

            (ii) The term "Cause" means (A) any act by Executive that damages,
in any material respect, the reputation, business or business relationships of
the Company, (B) any action by Executive that constitutes a fraud against the
Company, (C) the conviction of Executive of a misdemeanor or felony, (D)
Executive's refusal or failure to perform his duties that continues for a period
of ten (10) business days after written notice of such refusal or failure is
given by the Company to Executive, (E) any material breach by Executive of this
Agreement or any other agreement between Executive and the Company, or any
affiliate of the Company, that continues for a period of ten (10) business days
after written notice of such breach is given by the Company to Executive, or (F)
any failure by the Executive to maintain her securities registrations and other
regulatory licenses and authorizations (other than insurance licenses in states
other than Pennsylvania), including without limitation, any willful violation of
applicable laws, rules or regulations by the Executive that results in the
suspension or revocation of such registrations, licenses or authorizations.

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            (iii) The term "Termination Date" shall mean the earlier of the
expiration of this Agreement or the effective date of the Company's termination
of this Agreement.

      (B) Payments to Executive Upon Termination of This Agreement.

            (i) In the event this Agreement is terminated prior to the
expiration of the Term by the Company without Cause, the Company shall pay to
Executive the amounts set forth in this Section 5(B)(i) within thirty (30) days
of the effective date of termination: (a) an amount equal to Executive's accrued
but unpaid Base Salary and earned but unpaid Bonus prior to the Termination
Date; (b) reimbursement for any reimbursable business expenses incurred in
accordance with this Agreement prior to the Termination Date; (c) Executive's
Base Salary for the remainder of the Term (determined without regard to the
termination provisions of this Section 5), payable as and when such Base Salary
otherwise would have been payable in accordance with the Company's payroll
practices; and (d) any other amounts or benefits due under this Agreement and
any benefit plan, or program through the remainder of the Term in accordance
with the terms of said plan or program, but without duplication.

            (ii) In the event this Agreement is terminated prior to the
expiration of the Term by the Company for Cause or due to Executive's death or
Disability, the Company shall pay to Executive the amounts set forth in this
Section 5(B)(ii): (a) an amount equal to Executive's accrued but unpaid Base
Salary and earned but unpaid Bonus prior to the Termination Date; (b)
reimbursement for any reimbursable business expenses incurred in accordance with
this Agreement prior to the Termination Date; and (c) any other amounts or
benefits due through the Termination Date under this Agreement and any benefit
plan, or program in accordance with the terms of said plan or program, but
without duplication.

            (iii) Upon expiration of the Term, the Company shall pay to
Executive the amounts set forth in this Section 5(B) (iii): (a) all of
Executive's accrued but unpaid Base Salary; (b) reimbursement for any
reimbursable business expenses incurred in accordance with this Agreement prior
to the end of the Term; and (c) any other amounts or benefits due through the
end of the Term under this Agreement and any benefit plan, or program in
accordance with the terms of said plan or program, but without duplication.

The Company's obligations under Sections 5(B)(i), (ii) and (iii) shall survive
termination of this Agreement.

6 Non-Disclosure; Non-Competition and Non-Solicitation. Reference is made to the
Non-Competition, Non-Solicitation and Non-Disclosure Agreement, of even date
herewith, between NIM, the Company and Executive, which is incorporated herein
by reference and shall survive the expiration or termination of this Agreement.

7 Representation and Warranty of Executive. Executive represents and warrants to
Company that the execution and delivery of this Agreement and the performance of
Executive's obligations pursuant hereto shall not conflict with or result in a
breach of any provisions of any (a) agreement, commitment, undertaking,
arrangement or understanding to which Executive is a party or by which Executive
is bound; or (b) order, judgment or decree of any court or arbitrator.

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8 General Provisions.

      (A) Notices. All notices and other communications under this Agreement
shall be in writing and may be given by personal delivery, registered or
certified mail, postage prepaid, return receipt requested or generally
recognized overnight delivery service. Notices shall be sent to the appropriate
party at that party's address set forth above or at such other address for that
party as shall be specified by notice given under this Section. All such notices
and communications shall be deemed received upon (a) actual receipt by the
addressee or (b) actual delivery to the appropriate address. Copies of notices
hereunder shall be sent as follows: If to Executive - to:
_______________________, fax no. _________________; and if to the Company, to:
National Investment Managers Inc., 420 Lexington Avenue, New York, NY 10170,
attention: Chief Financial Officer, and to: Sichenzia Ross Friedman Ference LLP,
1065 Avenue of the Americas, 21st Floor, New York, New York 10018, fax no. 212
930 9725, attention: Gregory Sichenzia, Esq.

      (B) Assignment. This Agreement shall be binding upon, and inure to the
benefit of, the parties' respective successors, permitted assigns, and heirs and
legal representatives. This Agreement may be assigned to, and thereupon shall
inure to the benefit of, any organization which succeeds to substantially all of
the business or assets of the Company, whether by means of merger,
consolidation, acquisition of all or substantially all of the assets of the
Company or otherwise, including, without limitation, by operation of law,
provided, however, that in the event of any such assignment, equitable
adjustments shall be made to any financial criteria or targets required to be
met by Executive. This Agreement is a personal services contract and may not be
assigned by Executive nor may the duties of Executive hereunder be delegated by
Executive to any other person.

      (C) Severability. If any provision of this Agreement, or the application
of any provision to any person or circumstance, shall for any reason or to any
extent be invalid or unenforceable, the remainder of this Agreement and the
application of that provision to other persons or circumstances shall not be
affected, but shall be enforced to the full extent permitted by law.

      (D) No Waiver. The failure of a party to insist upon strict adherence to
any term of this Agreement on any occasion shall not be considered a waiver or
deprive that party of the right thereafter to insist upon strict adherence to
that term or any other term of this Agreement. Any waiver must be in writing.

      (E) Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York applicable to agreements made
and to be performed in that state, without regard to any of its principles of
conflicts of laws or other laws that would result in the application of the laws
of another jurisdiction. This Agreement shall be construed and interpreted
without regard to any presumption against the party causing this Agreement to be
drafted. Each of the parties hereby unconditionally and irrevocably waives the
right to a trial by jury in any action, suit or proceeding arising out of or
relating to this Agreement or the transactions contemplated hereby. Each of the
parties unconditionally and irrevocably consents to the exclusive jurisdiction
of the courts of the State of New York located in the County of New York and the
Federal court in the Southern District of New York with respect to any suit,
action or proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby, and each of the parties hereby unconditionally
and irrevocably waives any objection to venue in any such court.

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      (F) Counterparts. This Agreement may be executed in counterparts, both of
which shall be considered an original, but both of which together shall
constitute the same instrument. In addition, the parties may execute multiple
original copies of this Agreement, each of which shall be considered an
original, but all of which shall be considered the same Agreement.

      (G) Entire Agreement; Amendment. This Agreement contains the complete
statement of all the arrangements between the parties with respect to its
subject matter, supersedes all prior agreements between them with respect to
that subject matter, and may not be changed or terminated orally. Any amendment
or modification must be in writing and signed by the party to be charged.

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      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first set forth above.

                                        BENEFIT DYNAMICS, INC.

                                        By: /s/ CARMEN LAVERGHETTA
                                            ------------------------------------
                                        Name: CARMEN LAVERGHETTA
                                        Title: PRESIDENT AND TREASURER

                                        /s/ CARMEN LAVERGHETTA
                                        ----------------------------------------
                                        CARMEN LAVERGHETTA

               [SIGNATURE PAGE - LAVERGHETTA EMPLOYMENT AGREEMENT]

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<PAGE>

EXHIBIT A

                          Non-Recurring Fringe Benefits

Auto reimbursement in excess of IRS mileage rate
Cell phones for spouse
Reimbursement of Personal Disability Coverage
Reimbursement of Personal Long Term Care Insurance
Club Dues
Key Man Insurance
Exotic Travel

                                        7NON-COMPETITION, NON-DISCLOSURE
                                       AND
                           NON-SOLICITATION AGREEMENT

      THIS NON-COMPETITION, NON-DISCLOSURE AND NON-SOLICITATION AGREEMENT
("Agreement"), dated as of January 2, 2007 (the "Effective Date"), by and
between Jo Ann Massanova (the "Seller") and National Investment Managers Inc., a
Florida corporation ("NIM").

RECITALS

      A. Pursuant to that certain Stock Purchase Agreement, dated as of January
2, 2007, by and among NIM, Seller, Carmen Laverghetta, and Benefit Dynamics,
Inc. (the "Company") (the "Purchase Agreement"), the Company is being acquired
by NIM. Capitalized terms not otherwise defined herein shall have the meanings
ascribed to such terms in the Purchase Agreement.

      B. Seller has been a principal shareholder, an officer, director and
employee of the Company and its subsidiaries for many years and has developed
and received special, unique and extraordinary knowledge, information and
goodwill in connection therewith.

      C. It is a condition precedent to the consummation of the transactions
contemplated by the Purchase Agreement, and an inducement to NIM to enter into
the Purchase Agreement and effect the purchase of the Company and its respective
businesses thereunder and the goodwill represented thereby, that the parties
hereto execute and deliver this Agreement.

      NOW, THEREFORE, in consideration of the foregoing premises and for other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:

1 Non-Competition; Non-Solicitation. Commencing on the date hereof and ending on
the last day of the Restricted Period (as defined below), Seller covenants and
agrees that Seller will not, without NIM's prior written consent, directly or
indirectly, either on behalf of Seller or on behalf of any business venture, as
an employee, consultant, partner, principal, stockholder, officer, director,
trustee, agent, or otherwise (other than on behalf of NIM or its Affiliates):

      (A) be employed by, engage or participate in the ownership, management,
operation or control of, or act in any advisory, expert, consulting or other
capacity in the Territory (as defined below) for, any entity or individual that
competes with NIM or its Affiliates in the areas in which the Companies conduct
it business in the geographical area within the United States (the "Territory").
The provisions of this Subsection (A) shall not apply if the Seller engages in
any of the activities described above in the property and casualty insurance
industry;

<PAGE>

      (B) solicit or divert any business or any customer from NIM or its
Affiliates or assist any person, firm, corporation or other entity in doing so
or attempting to do so;

      (C) cause or seek to cause any person, firm or corporation to refrain from
dealing or doing business with NIM or its Affiliates or assist any person, firm,
corporation or other entity in doing so; or

      (D) hire, solicit or divert from NIM or its Affiliates any of their
respective employees, consultants or agents who have, at any time during the
immediately preceding one (1) year period from the date hereof or during the
Restricted Period, been engaged by NIM or its Affiliates, nor assist any person,
firm, corporation or other entity in doing so.

      As used in this Agreement, the term "Affiliates" shall mean any entity
controlling, controlled by or under the common control of NIM. For the purpose
of this Agreement, "control" shall mean the direct or indirect ownership of
fifty (50%) percent or more of the outstanding shares or other voting rights of
an entity or possession, directly or indirectly, of the power to direct or cause
the direction of management and policies of an entity.

      As used in this Agreement, "Restricted Period" means the period commencing
on the date hereof and ending on two (2) years from the date of Seller's
termination of employment or consulting period with the Company, or any
Affiliate of the Company, for any reason.

2 Nondisclosure. Seller understands and agrees that the business of the Company
and its Affiliates is based upon specialized work and Confidential Information
(as hereinafter defined). Seller agrees that following the termination of
Seller's employment or consulting period with NIM or any Affiliate of NIM and
for all times thereafter, Seller shall keep secret all such Confidential
Information and that Seller will not, directly or indirectly, use for Seller's
own benefit or for the benefit of others nor Disclose (as hereinafter defined),
without the prior written consent of NIM, any Confidential Information. At any
time upon NIM's request, Seller shall turn over to NIM all books, notes,
memoranda, manuals, notebooks, records and other documents made, compiled by,
delivered to, or in the possession or control of Seller containing or concerning
any Confidential Information, including all copies thereof, in any form or
format, including any computer hard disks, wherever located, containing any such
information, it being agreed that the same and all information contained therein
are at all times the exclusive property of NIM and its Affiliates.

      As used in this Agreement, the term "Confidential Information" means any
information or compilation of information not generally known to the public or
the industry, that is proprietary or confidential to NIM, its Affiliates and/or
those doing business with NIM and/or its Affiliates, including but not limited
to know-how, process, techniques, methods, plans, specifications, trade secrets,
patents, copyrights, supplier lists, customer lists, mailing lists, financial
information, business plans and/or policies, methods of operation, sales and
marketing plans and any other information acquired or developed by Seller in the
course of his past, present and future dealings with NIM and its Affiliates,
which is not available to the public.

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<PAGE>

      "Confidential Information" does not include any information, datum or
fact: (a) currently available to the public as of the date hereof; (b) after it
becomes available to the public other than as a result of a breach hereof or
other wrongful conduct by Executive; (c) after it becomes available to Executive
on a nonconfidential basis from a source other than the Company or its
Affiliates or a person or entity breaching his or its confidentiality agreement
or other relationship of confidence with the Company or its Affiliates; or (d)
developed independently by Executive without any reference to or use whatsoever
of any Confidential Information of the Company or its Affiliates.

      As used in this Agreement, the term "Disclose" means to reveal, deliver,
divulge, disclose, publish, copy, communicate, show, allow or permit access to,
or otherwise make known or available to any third party, any of the Confidential
Information.

3 Blue Pencil Doctrine. In the event that the restrictive covenants contained in
Section 1 and/or Section 2 of this Agreement shall be found by a court of
competent jurisdiction to be unreasonable by reason of such restrictive
covenants extending for too great a period of time or over too great a
geographic area or by reason of such restrictive covenants being too extensive
in any other respect, then such restrictive covenant shall be deemed modified to
the minimum extent necessary to make such restrictive covenant reasonable and
enforceable under the circumstances.

4 Injunctive Relief. If Seller shall breach or threaten to breach any of the
provisions of Section 1 and/or Section 2, in addition to and without limiting
any other remedies available to NIM at law or in equity, NIM shall be entitled
to seek immediate injunctive relief in any court to restrain any such breach or
threatened breach and to enforce the provisions of Section 1 and/or Section 2,
as the case may be. Seller acknowledges and agrees that there is no adequate
remedy at law for any such breach or threatened breach and, in the event that
any proceeding is brought seeking injunctive relief, Seller shall not use as a
defense thereto that there is an adequate remedy at law.

5 Reasonableness of Covenants. Seller acknowledges and agrees that the
restrictive covenants contained in this Agreement are a necessary inducement to
Purchaser purchasing Seller's ownership interests in the Company and its
subsidiaries, and that the scope (geographic and otherwise) and period of
duration of the restrictive covenants contained in this Agreement are both fair
and reasonable and that the interests sought to be protected by NIM are
legitimate business interests entitled to be protected. Seller further
acknowledges and agrees that NIM would not have purchased Seller's ownership
interests in the Company and its subsidiaries pursuant to the Purchase Agreement
unless Seller entered into this Agreement.

6 General Provisions.

      (A) Entire Agreement. This Agreement, together with the Purchase Agreement
and any other agreements contemplated thereby, contain the entire agreement of
the parties hereto with respect to the subject matter hereof, and supersede all
prior or contemporaneous agreements and understandings, oral or written, among
the parties hereto and thereto with respect to the subject matter hereof and
thereof.

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<PAGE>

      (B) Amendment; Waiver. No amendment or waiver of any provision of this
Agreement shall be effective unless the same shall be in writing and signed by
all of the parties and then such waiver shall only be effective in the specific
instance and for the specific purpose for which it was given.

      (C) Notices. All notices and other communications under this Agreement
shall be in writing and shall be given in accordance with the notice provisions
of the Purchase Agreement.

      (D) Assignment. This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective heirs, personal
representative(s), successors and permitted assigns. This Agreement may be
assigned to, and thereupon shall inure to the benefit of, any organization which
succeeds to substantially all of the business or assets of NIM, whether by means
of merger, consolidation, acquisition of all or substantially all of the assets
of NIM or otherwise, including, without limitation, by operation of law.

      (E) Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York applicable to agreements made
and to be performed in that state, without regard to any of its principles of
conflicts of laws or other laws that would result in the application of the laws
of another jurisdiction. This Agreement shall be construed and interpreted
without regard to any presumption against the party causing this Agreement to be
drafted. Each of the parties hereby unconditionally and irrevocably waives the
right to a trial by jury in any action, suit or proceeding arising out of or
relating to this Agreement or the transactions contemplated hereby. Each of the
parties unconditionally and irrevocably consents to the exclusive jurisdiction
of the courts of the State of New York located in the County of New York and the
Federal district court for the Southern District of New York located in the
County of New York with respect to any suit, action or proceeding arising out of
or relating to this Agreement or the transactions contemplated hereby, and each
of the parties hereby unconditionally and irrevocably waives any objection to
venue in any such court.

      (F) Recovery of Attorneys' Fees and Costs. If any action for breach of or
to enforce the provisions of this Agreement is commenced, the court in such
action shall award to the party in whose favor a judgment is entered, a
reasonable sum as attorneys' fees and costs. Such attorneys' fees and costs
shall be paid by the non-prevailing party in such action.

      (G) Headings. The headings to the paragraphs of this Agreement are
intended for the convenience of the parties only and shall in no way be held to
explain, modify, amplify or aid in the interpretation of the provisions hereof.

      (H) Severability. The provisions of this Agreement shall be deemed
severable and if any portion hereof shall be held invalid, illegal or
unenforceable for any reason by a court of competent jurisdiction, the remainder
shall not thereby be invalidated but shall remain in full force and effect.

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<PAGE>

      (I) Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original but all of which together shall constitute one
and the same agreement. In addition, the parties may execute multiple original
copies of this Agreement, each of which shall be considered an original, but all
of which shall be considered the same Agreement.

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      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first set forth above.

                                        NATIONAL INVESTMENT MANAGERS INC.

                                        By: /s/ Leonard A. Neuhaus
                                            ------------------------------------
                                            Name: Leonard A. Neuhaus
                                            Title: CFO/COO

                                            /s/ Jo Ann Massanova
                                            ------------------------------------
                                            Jo Ann Massanova

                                [SIGNATURE PAGE -
                       NON-COMPETITION, NON-DISCLOSURE AND
                           NON-SOLICITATION AGREEMENT]

                                        6

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