Document:

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                                                                    EXHIBIT 10.2

                              EMPLOYMENT AGREEMENT

      This Employment Agreement (the "Agreement") dated this 16th day of April,
2001 (the "Effective Date") by and between Belmont National Bank, a national
banking corporation (the "Bank"), and Belmont Bancorp, an Ohio corporation (the
"Holding Co." and collectively with the Bank, the "Employer"), and Michael R.
Baylor ("Employee"). For and in consideration of the parties' material
covenants, representations and warranties made herein, the parties agree as
follows:

      1. Employment and Duties.

      (a) The Employer hereby employs Employee to serve as the Executive Vice
President and Chief Lending Officer of the Bank. As such, Employee shall have
responsibilities, duties and authority reasonably accorded to and expected of
such position. Employee will report to the President & Chief Executive Officer
of the Employer. Employee hereby accepts this employment upon the terms and
conditions herein contained and, subject to paragraph 3 hereof, agrees to devote
Employee's full time, attention and efforts to promote and further the business
of the Employer.

      (b) Employee shall faithfully adhere to, execute and fulfill all policies
established by the Employer; such policies may be changed from time to time by
the Employer.

      2. Compensation. For all services rendered by Employee, the Employer shall
compensate Employee as follows:

      (a) Base Salary. The base salary payable to Employee shall be $130,000 per
year, payable on a monthly basis in accordance with the Employer's standard
payroll procedures. On at least an annual basis, the Employer will review
Employee's performance and may make increases to such base salary if, in its
discretion, any such increase is warranted.

      (b) Employee Perquisites, Benefits, Annual Bonus and Other Compensation.
Employee shall be entitled to receive additional benefits and compensation from
the Employer in such form and to such extent as specified below:

            (i) For services Employee performs during his first year of
employment, the Employer shall award to Employee such bonus, if any, as it
determines in its judgement to be appropriate. Factors which the Employer shall
consider in making its determination shall be the Employee's success in
improving the quality and performance of the Bank's loan portfolio, including by
reducing the number of loans on the Bank's watch list and improving the grading
of the loans held in the portfolio. The parties acknowledge and understand that
a bonus of $25,000 is anticipated if the Employee provides exemplary service.
Any such bonus shall be payable not later than January 31, 2002.

            (ii) Employee and Employee's dependent family members shall be
entitled to participate in the health, hospitalization, and disability, dental,
life and other insurance plans

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that the Employer may have in effect from time to time, with benefits provided
to Employee under this clause to be at least equal to such benefits provided to
executive officers of the Employer generally.

            (iii) Employee shall be reimbursed all business travel and other
out-of-pocket expenses reasonably incurred by Employee in the performance of
Employee's services pursuant to this Agreement. All reimbursable expenses shall
be appropriately documented in reasonable detail by Employee upon submission of
any request for reimbursement, and in a format and manner consistent with the
Employer's expense reporting policy. Any expenses in excess of $3,000 per year
in the aggregate shall be approved by the Employer.

            (iv) Employee shall be entitled to an allowance for the use of a
Bank vehicle.

            (v) Employee shall be entitled to use of one of the corporate
memberships for Belmont Hills Country Club held by Employer, to be used to
promote Employer's business and affairs.

            (vi) Employee shall be entitled to a grant of options to purchase
35,000 shares of the Holding Co.'s common stock under the Belmont Bancorp 2001
Stock Option Plan Stock for Michael Baylor, to be adopted by the Board
substantially in the form attached hereto as Annex A (the "Plan"). Such options
shall have an exercise price equal to the market price of the Holding Co.'s
common stock on the day of grant, which shall be determined by the Board or the
committee thereof charged with administering the Plan. Such options shall vest
20% upon grant and in equal 20% increments on each of the first four
anniversaries of the date of grant and shall be exercisable for 10 years from
the date of grant, subject to earlier termination following the termination of
Employee's employment with the Employer as provided in the Plan; provided,
however, that (1) if Employer terminated Employee without cause as set forth in
paragraph 5(a)(iv), the last day of the Remaining Period (as hereinafter
defined) shall be deemed the date of Employee's termination of employment, and
(2) upon the occurrence of a Change of Control (as hereinafter defined), all
outstanding options held by Employee shall immediately vest.

            (vii) Employee shall be entitled to 19 days of Paid Time Off per
year, then a pro rata formula for years of service in accordance with the Bank's
policy for Paid Time Off.

            (viii) Employer shall provide Employee with other employee
perquisites as may be available to or deemed appropriate for Employee by
Employer and participation in all other Employer-wide employee benefits as are
available from time to time.

      (3) Non-Competition Agreement.

      (a) Employee shall not, during the term of Employee's employment
hereunder, be engaged in any other business activity pursued for gain, profit or
other pecuniary advantage. The forgoing limitations shall not be construed as
prohibiting Employee from making personal investment in such form or manner as
will neither require Employee's services in the operation

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or affairs of the companies or enterprises in which such investments are made
nor violate the terms of this paragraph 3.

      (b) In addition, Employee shall not, during the period of Employee's
employment with the Employer, and for a period of one year immediately following
the termination of Employee's employment under this Agreement (excluding from
such computation any time during which Employee is in violation of any provision
of this paragraph 3):

            (i) serve as an officer, director, shareholder, owner, partner,
joint venturer, consultant or advisor to any bank, savings bank, or other
financial institution with a 50 mile radius of the Bank's principal office in
St. Clairsville, Ohio (except the Employee may hold up to 1% of the capital
stock of any such institution);

            (ii) solicit any of the Employer's customers except on Employer's
behalf;

            (iii) directly or indirectly influence any of Employer's employees
to terminate their employment with Employer or accept employment with any
competitor of the Employer;

            (iv) interfere with any of Employer's business relationships; or

            (v) enter into any business relationship with any of Employer's
customers or suppliers, except upon prior approval of the Board after Employee
has apprised it of the nature of the relationship proposed to be entered into
and the direct or indirect compensation proposed to be received by Employee.

      (c) Because of the difficulty of measuring economic losses to the Employer
as a result of a breach of the foregoing covenant, and because of the immediate
and irreparable damage that could be caused to the Employer for which they would
have no other adequate remedy, Employee agrees that the foregoing covenant may
be enforced by the Employer in the event of breach by Employee, by injunctions
and restraining orders.

      (d) The covenants in the paragraph 3 are severable and separate, and the
unenforceability of any specific covenant shall not affect the provisions of any
other covenant. Moreover, in the event any court of competent jurisdiction shall
determine that the scope, time or territorial restrictions set forth are
unreasonable, then it is the intention of the parties that such restrictions by
enforced to the fullest extent which the courts deems reasonable, and the
Agreement shall thereby be reformed.

      (e) All of the covenant in this paragraph 3 shall be construed as an
agreement independent of any other provision in this Agreement, and the
existence of any claim or cause of action of Employee against the Employer,
whether predicated on the Agreement or otherwise, shall not constitute a defense
to the enforcement by the Employer of such covenants.

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      4. Relocation; Purchase of Home.

The Employee will be required to relocate in order to accept employment with the
Employer. Employer will pay all reasonable relocation expenses, including
transportation and storage expenses and incidental expenses related to the
relocation. Employer will purchase Employee's home located at 20418 Mt. Aetna
Road, Hagerstown, Maryland or such other home which shall be Employee's primary
residence (the "Property") on such terms and conditions as specified in the
letter agreement of even date herewith ("Letter Agreement"), as well as those
consistent terms contained in a Purchase Option Agreement ("Option") of even
date herewith.

      5. Term, Termination; Rights on Termination.

      (a) The term of this Agreement shall begin on the Effective Date and
continue for three years (the "Term"), unless terminated sooner as herein
provided, and shall continue thereafter on a year-to-year basis on the same
terms and conditions contained herein in effect as of the time of renewal;
provided, however, that this Agreement will not continue in effect if notice of
non-renewal is provided by Employer not less than 30 days prior to the
expiration of the then current term. This Agreement and Employee's employment
may be terminated in any one of the following ways:

            (i) Death. The death of the Employee shall immediately terminate the
Agreement with no severance compensation due to Employee's estate.

            (ii) Disability. If, as a result of incapacity due to physical or
mental illness or injury, Employee shall have been absent from full-time duties
hereunder for four consecutive months, then 30 days after receiving written
notice (which notice may occur before or after the end of such four month
period), the Employer may terminate Employee's employment hereunder provided
Employee is unable to resume full-time duties with or without reasonable
accommodation at the conclusion of such notice period. Also, Employee may
terminate Employee's employment hereunder if Employee's health should become
impaired to an extent that makes the continued performance of Employee's duties
hereunder hazardous to Employee's physical or mental health or life, provided
that Employee shall have furnished the Employer with a written statement from a
qualified doctor to such effect and provided, further, that, at the Employer's
request made within 30 days of the date of such written statement, Employee
shall submit to an examination by a doctor selected by the Employer who is
reasonably acceptable to Employee or Employee's doctor.

      Employee shall continue to receive from the Employer (whether directly
and/or through any disability insurance policy) (1) for the balance of the
period that this Agreement would have remained in effect absent such termination
for disability (but without any subsequent renewal) (the "Remaining Period")
plus a period of six months following the termination of Employee's employment
(the "Severance Period" and, together with the Remaining Period, the "Reference
Period") the base salary at 70% of the rate being paid to the Employee
immediately prior to his termination, payable monthly, (2) if not previously
paid, the bonus for the calendar most recently ended prior to the termination of
Employee's employment for

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disability and, for any subsequent year during the Remaining Period, 70% of the
bonus that would have been payable had Employee's employment continued, payable
by March 31 of the year following the year for which the bonus is calculated,
and (3) for the Reference Period, the other benefits specified in paragraph 2.

      (iii) Good Cause. The Employer may terminate the Agreement immediately for
good cause in the event that the Employee (1) Commits an act of dishonesty,
fraud, embezzlement, for breach of trust against the Employer (including any
misrepresentation to the Board), or an act which he knows to be in violation of
his duties to the Employer, which act is materially injurious to the Employer's
business or reputation and is not remedied within 10 days after notice thereof
by the Employer; (2) breaches this Agreement or fails to adequately render
services or perform his obligations to the Employer, which act or failure is
materially injurious to the Employer's business and is not remedied within 10
days after notice thereof by the Employer; (3) commits acts amounting to gross
negligence or willful misconduct which are materially injurious to the
Employer's business or reputation and is not remedied within 10 days after
notice thereof by the Employer; (4) is convicted of a felony, a crime of moral
turpitude or any crime involving the Employer or his duties under this
Agreement; or (5) tests positive to the use of any illegal drug; or (6) abuses
alcohol or any other drug and fails to enter the rehabilitation program or
undertake the plan of treatment or fails to comply with the maintenance
conditions prescribed following such program or plan of treatment. In the event
of a termination for good cause, Employee shall have no right to receive any
further compensation for benefits hereunder.

      (iv) Without Cause. At any time after the commencement of employment, the
Employer or Employee may, without cause, terminate this Agreement and Employee's
employment, effective 30 days after written notice is provided to the other.

      Should Employee be terminated by Employer without cause, then, unless
Employee is entitled to compensation under paragraph 5(a)(vi) hereof, Employee
shall continue to receive from the Employer (1) for the Reference Period the
base salary at the rate being paid to the Employee immediately prior to his
termination, payable monthly, (2) if not previously paid, the bonus for the
calendar most recently ended prior to the termination of Employee's employment
and, for any subsequent year during the Remaining Period, an amount equal to the
greater or (A) the bonus that would have been payable had Employee's employment
continued or (B) the last bonus earned by Employee prior to his termination
without cause, in either case payable by June 30 of the year following the year
for which the bonus is calculated, and (3) for the Reference Period, the other
benefits specified in paragraph 2.

      Except as otherwise provided in paragraph 5(a)(vi), if Employee
voluntarily terminates his employment with the Employer, Employee shall receive
no further compensation or benefits hereunder.

            (v) Failure to Renew. The termination of Employee's employment by
reason of Employer's failure to renew this Agreement shall be treated as a
termination by reason of disability, good cause or without cause, as the case
may be, and the applicable

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provisions of this paragraph 5 shall be applied. In such instance, there shall
be no Remaining Period, and Reference Period and the Severance Period shall be
coextensive.

            (vi) Change of Control. If (A) the Employer terminates Employee's
employment (including by failing to renew this Agreement) within two years
following the occurrence of a Change of Control (as hereinafter defined), unless
such termination is by reason of the death or disability of Employee or the
Employer's termination of Employee for good cause as specified in paragraph
5(a)(iii), or (B) Employee voluntarily terminates his employment (including by
failing to renew this Agreement) within six months following the occurrence of a
Change of Control, the Employer shall pay to Employee, within 90 days after such
termination, a lump sum payment equal to 299% of the sum of (1) his annualized
base salary at the rate being paid to Employee immediately prior to the
termination of his employment, and (2) the most recent bonus earned by Employee
(which, if it has been earned but not paid to Employee for the year most
recently ended prior to the termination of Employee's employment, such bonus
shall be paid independently (and without reduction) of this lump sum payment).

      A "Change of Control" shall mean:

      (i)   either the Bank or the Holding Co. sells or otherwise transfers all
            or substantially all of its assets to another corporation or other
            entity and, as a result of such sale or transfer, less than a
            majority of the combined voting power of the then outstanding
            securities of such other corporation or entity immediately after
            such transaction is held in the aggregate by the holders of
            securities of any class or series entitled to vote generally in the
            election of directors ("Voting Stock") of the Employer or Holding
            Co. immediately prior to such sale or transaction;

      (ii)  either the Bank or the Holding Co. is merged, consolidated or
            reorganized into or with another corporation or other entity, as a
            result of such merger, consolidation or reorganization, less than a
            majority of the combined voting power of the then outstanding
            securities of such corporation or entity immediately after such
            transaction is held in the aggregate by the holders of Voting Stock
            of the Bank or Holding Co. immediately prior to such transaction;

      (iii) any person or group of persons, as defined in Rule 13d-5 of the
            Rules under the Securities Exchange Act of 1934, as amended
            ("Group") becomes the beneficial owner, directly or indirectly, of a
            majority of the Voting Stock of the Holding Co.; or

      (iv)  any person or Group, other than the Holding Co., becomes the
            beneficial owner, directly or indirectly, of a majority of the
            Voting Stock of the Bank.

      (vii) Termination By Employee Upon Good Reason. The Employee may terminate
            his employment for Good Reason.

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      The term "Good Reason" shall mean:

      (i)   a reduction in the Executive's Annual Salary in violation of Section
            2 hereof, or his total cash compensation opportunities (e.g. annual
            incentive awards under the Employer's bonus plans or equity
            participation awards) or benefits (except any reductions in
            compensation which may be applied broadly among all executives
            because of adverse financial conditions for the Employer or as part
            of a restructuring of the Corporation's executive compensation
            program);

      (ii)  the Employer's decision not to renew the Agreement (except as
            otherwise provided in Section 5(a)(v);

      (iii) the Employer's failure to remedy a material breach of this Agreement
            within thirty (30) days following written notice of the breach from
            the Employee;

      (iv)  the Employee's position is eliminated and he is not offered a
            comparable position within thirty (30) days; or

      (v)   the lessening of the Employee's job responsibilities or an
            unacceptable relocation (defined as more than thirty-five (35) miles
            from the Employee's prior work site).

      (b) Effect of Termination. Upon termination of this Agreement for any
reason provided above, Employee shall be entitled to receive all compensation
earned and all benefits and reimbursements due through the effective date of
termination. Additional compensation subsequent to termination, if any, will be
due and payable to Employee only to the extent and in the manner expressly
provided herein. All other rights and obligations of the Employer and Employee
under this Agreement shall cease as of the effective date of termination, except
that the Employer's obligations under paragraph 8 herein and Employee's
obligations under paragraphs 3, 6 and 7 herein shall survive such termination in
accordance with their terms unless otherwise provided herein.

      (c) Employee recognizes and understands that the Bank must obtain the
approval of a waiver of the Comptroller of the Currency and the Holding Co. must
obtain the approval of a waiver from the Federal Reserve Bank of Cleveland for
Employee's appointment to become effective. Accordingly, not withstanding
anything to the contrary herein contained, if such waivers or approvals are not
obtained, Employer may immediately terminate Employee's employment hereunder. In
such event, Employee shall be entitled to receive an amount equal to his base
salary for a three month period, payable in a lump sum within 30 days after such
termination, and Employee shall not be bound by the provisions of paragraph 3(b)
at any time following such termination.

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      (6) Return of Employer Property. All records, business plans, financial
statements, manuals, memoranda, lists and other property delivered to or
compiled by Employee by or on behalf of the Employer or its representatives or
customers which pertain to the business of the Employer shall be and remain the
property of the Employer, and be subject at all times to its discretion and
control. Likewise, all correspondence, reports, records, charts, advertising
materials and other similar data pertaining to the business, activities or
future plans of the Employer which is collected by Employee shall be delivered
promptly to the Employer without request by it upon termination of Employee's
employment.

      (7) Proprietary Information; Trade Secrets. Employee agrees that Employee
will not disclose the terms of the Employer's relationships or agreements with
its customers or any other proprietary information or trade secrets of either
whether in existence or proposed, to any person, firm, partnership, corporation
or business for any reason or purpose whatsoever.

      (8) Indemnification. In the event Employee is made a party to any
threatened, pending or contemplated action, suit or proceeding, whether civil,
criminal, administrative or investigative (other than an action by the Employer
against Employee), by reason of the fact that Employee is or was performing
services under this Agreement, then the Employer shall indemnify Employee
against all expenses (including attorneys' fees), judgments, fines and amounts
paid in settlement, as actually and reasonable incurred by Employee in
connection therewith. In the event that both Employee and the Employer are made
a party to the same third party action, complaint, suit or proceeding, the
Employer agrees to engage counsel, and Employee agrees to use the same counsel,
provided that if counsel selected by the Employer shall have a conflict of
interest that prevents such counsel from representing Employee, Employee may
engage separate counsel and the Employer shall pay all reasonable attorneys'
fees of such separate counsel. The Employer shall not be required to pay the
fees of more than one law firm except as described in the preceding sentence,
and shall not be required to pay the fees of more than two law firms under any
circumstances. Further, while Employee is expected at all times to use
Employee's best efforts to faithfully discharge Employee's duties under this
agreement, Employee cannot be held liable to the Employer for errors or
omissions so long as Employee has acted in good faith and in manner he
reasonably believes to be in the best interests of the Employer.

      (9) No Prior Agreement. Employee hereby represents and warrants to the
Employer that the execution of this Agreement by Employee and Employee's
employment by the Employer and the performance of Employee's duties hereunder
will not violate or be a breach of any agreement with a former employer, client
or any other person or entity. Further, Employee agrees to indemnify the
Employer for any claim, including, but not limited to, attorneys' fees and
expenses of investigation, by any such third party that such third party may now
have or may hereafter come to have against the Employer based upon or arising
out of any non-competition agreement, invention or secrecy agreement between
Employee and such third party which as in existence as of the date of the
Agreement.

      (10) Assignment; Binding Effect. Employee understands that Employee has
been selected for employment by the Employer on the basis of Employee's personal
qualifications,

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experience and skills. Employee agrees, therefore, that Employee cannot assign
all or any portion of Employee's performance under this Agreement. Subject to
the preceding two sentences, this Agreement shall be biding upon, inure to the
benefit of and be enforceable by the parties hereto and their respective heirs,
legal representatives, successors an assigns.

      (11) Complete Agreement. This agreement sets forth the entire agreement of
the parties hereto relating to the subject matter hereof and supersedes any
other employment agreements or understanding, written or oral, between the
Employer and Employee. This Agreement is not a promise of future employment.
Employee has no oral representations, understanding or agreements with the
Employer or any of its officers, directors or representatives covering the same
subject matter as this Agreement. This written Agreement is the final, complete
and exclusive statement and expression of the agreement between the Employer and
Employee and of all the terms of this Agreement, and it cannot be varied,
contradicted or supplemented by evidence of any prior or contemporaneous oral or
written agreement. This Agreement may not be later modified except by a further
writing signed by a duly authorized officer of the Employer and Employee, and no
term of this Agreement may be waived except by writing signed by the party
waiving the benefit of such term.

      (12) Notice. Whenever any notice is required hereunder, it shall be given
in writing addressed as follows:

         To The Employer:  Belmont National Bank and Belmont Bancorp
                           154 West Main Street
                           St. Clairsville, OH  43950

         To Employee:      Michael R. Baylor
                           20318 Mt. Aetna Road
                           Hagerstown, MD  21742

Notice shall be deemed given and effective on the earlier of three days after
the deposit in the U.S. mail of a writing addressed as above and sent first
class mail, certified, return receipt requested, or when actually received by
means of hand delivery, delivery by Federal Express or other courier service, or
by facsimile transmission. Either party may change the address for notice by
notifying the other party of such change in accordance with this paragraph.

      (13) Severability; Headings. If any portion of this Agreement is held
invalid or inoperative, the other portions of the Agreement shall be deemed
valid and operative and, so far as is reasonable and possible, effect shall be
given to the intent manifested by the portion held invalid or inoperative. The
paragraph headings herein are for reference purposes only and are not intended
in any way to describe, interpret, define or limit the extent or intent of the
Agreement or of any part hereof.

      (14) Enforceability. If any provision or part thereof of this Agreement
for any reason shall be validly held by an official body to be invalid or
unenforceable, the valid and

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enforceable provisions or parts thereof shall continue to be given effect and
bind the Employer and Employee.

      (15) Governing Law. This Agreement shall in all respects be construed
according to the laws of the State of Ohio without regard for its conflicts of
laws principles.

      (16) Counterparts. This Agreement may be executed simultaneously in two or
more counterparts, each of which shall be deemed an original and all of which
together shall constitute but one and the same instrument.

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

                                        BELMONT NATIONAL BANK

                                        /s/ Wilbur R. Roat

                                Witness by: /s/ Teri Walters

                                        Name: Wilbur R. Roat_______

                                        Title: President & CEO_____

                                        BELMONT BANCORP.

                                        /s/ Wilbur R. Roat

                                Witness by: /s/ Teri Walters

                                        Name: Wilbur R. Roat_______

                                        Title: President & CEO_____

                                        /s/ Michael R. Baylor
                                        Michael R. Baylor

                                Witness by: /s/ Teri Walters

                                       10<PAGE>

                                                                   Exhibit 10.37

                         EXECUTIVE EMPLOYMENT AGREEMENT
                         ------------------------------

     This Executive Employment Agreement (this "Agreement"), is entered into
by and between RAVISENT Technologies, Inc., a Delaware corporation with a place
of business at 257 Great Valley Parkway, Malvern, Pennsylvania (the "Company"
or "RAVISENT"), and Dale Calder, a resident of Mansfield, Massachusetts
("Executive"). The Company and Executive are collectively referred to herein as
the "Parties." The term "RAVISENT" as used herein shall include all of its
subsidiaries, affiliates, and businesses. The effective date of this Agreement
is the date of the Closing as defined in the Share Purchase Agreement referred
to below.

     WHEREAS, under the terms of the Share Purchase Agreement dated as of
____________ ("Share Purchase Agreement"), RAVISENT has agreed to acquire all
of the issued and outstanding shares of capital stock of eMation, Ltd.
("eMation"); and

     WHEREAS, the Company seeks to retain the services of Executive to serve
as President , and a member of the Board of Directors, of the Company under the
Share Purchase Agreement;

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

                    SECTION I. POSITION AND RESPONSIBILITIES
                    ----------------------------------------

     The Company agrees to employ Executive and Executive agrees to serve in
the employ of the Company as an executive, as follows:

     (a)  Executive agrees to serve the Company as President of the
          Company during the term of this Agreement. Executive shall also
          serve as a member of the Company's Board of Directors during the
          term of this Agreement. Executive further agrees to use his best
          efforts, and apply his skill and experience, to the proper
          performance of his duties hereunder. Executive agrees to serve the
          Company faithfully, diligently and to the best of his ability.
          Executive will report to Francis E. Wilde, Chief Executive Officer
          of the Company, or his successor.

     (b)  The principal location from which Executive will serve the
          Company and perform his duties hereunder shall be at the Company's
          place of business in Mansfield, Massachusetts, although it is
          understood and agreed that the performance of Executive's duties
          will require him to travel extensively within and without the United
          States of America.

     The Company shall compensate Executive for his services as provided herein.

                         SECTION II. TERM OF EMPLOYMENT
                         ------------------------------
<PAGE>

     Executive's employment with the Company will commence as of the Effective
Date defined within the Share Purchase Agreement, and will continue for a
period of three (3) years immediately thereafter unless further extended or
sooner terminated as hereinafter provided. Unless either party notifies the
other at least three (3) month's prior to its expiration, the Agreement shall
extend automatically for an additional one (1) year period. The Agreement shall
continue to extend automatically for successive one (1) year periods until such
notice is given or until a new agreement is executed by the parties or until
otherwise terminated as provided herein.

                            SECTION III. COMPENSATION
                            -------------------------

     (a) Salary. During the period of the Executive's employment hereunder,
     the Company shall pay to the Executive a minimum base salary at the rate
     of not less than $220,000 per annum with the same frequency and on the
     same basis that the Company normally makes salary payments to the other
     executive personnel and in accordance with the Company's normal payroll
     policies and procedures. This minimum base salary may be increased from
     time to time in accordance with normal business practices of the Company.
     If such increases take place, the Company shall not thereafter decrease
     the Executive's salary without the Executive's consent during the term of
     this Agreement.

     (b) Bonus. In addition to his minimum base salary, Executive will be
     entitled to an annual bonus of up to $100,000 based upon the Executive's
     attainment of certain personal goals and objectives mutually agreed upon
     by Executive and the Company (the "Personal Bonus"). Executive's
     first-year Personal Bonus is, however, guaranteed. Executive will be
     entitled to an additional annual bonus of $100,000 provided the Company
     experiences revenue in year one in excess of $12,400,000 and the Company
     achieves the earnings target (before interest, taxes, depreciation and
     amortization) as defined in the Company's Street Plan. The Executive will
     be entitled to an additional bonus in year one equal to 1% of any revenue
     achieved by the Company in excess of $14,000,000. The corporate bonus
     targets for subsequent years will be adjusted upon mutual agreement of
     the Executive and the Company.

     (c) Other Compensation. As an additional incentive for Executive to
     remain employed by the Company for the term of this Agreement, the
     Parties agree as follows:

          (i)   The Company shall pay to Executive a one-time, sign-on
                bonus of $150,000 upon execution of this Agreement.

          (ii)  The Executive shall be granted, upon execution of this
                Agreement, options to purchase 300,000 shares of common stock
                of the Company of which twenty-five percent (25%) of these
                options shall vest immediately upon execution of this
                Agreement, with the

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                remainder vesting proportionately each months over 24 months
                of this Agreement. These options will have an exercise price
                of $.01 per share. The term of such options shall be in
                accordance with the Stock Option Plan, and related agreements,
                that shall be assumed by the Company upon the closing under
                the Share Purchase Agreement ("Assumed Plan"), subject to the
                limitations of the Internal Revenue Code of 1986, as amended
                ("Internal Revenue Code"). Such agreements will contain terms
                which provide for a ten year period during which Executive may
                exercise vested options. These options will be subject to
                other, additional terms and conditions to be addressed in the
                Assumed Plan.

          (iii) The Executive shall be granted, upon execution of this
                Agreement, additional options to purchase 200,000 shares of
                common stock of the Company, which the Company shall qualify
                as incentive stock options as defined in Section 422 of the
                Internal Revenue Code. These options will have an exercise
                price equal to the fair market value of the shares as of the
                date of this Agreement. The term of such options shall be in
                accordance with the Stock Option Plan, and related agreements,
                that shall be assumed by the Company upon the closing under
                the Share Purchase Agreement ("Assumed Plan"), subject to the
                limitations of the Internal Revenue Code. Such agreements will
                contain terms which provide for a ten year period during which
                Executive may exercise vested options subject to the Internal
                Revenue Code's limitation on the exercise of vested incentive
                options later than ninety (90) days after termination of
                employment and the limitation on the granting of more than one
                hundred thousand dollars ($100,000) of vested incentive
                options in a calendar year. Such limitations do not cancel
                incentive stock options granted but provide for a mechanism by
                which such options convert into non-qualified stock options
                thereby losing the tax benefit of incentive stock options
                under the Internal Revenue Code. Twenty-five percent (25%) of
                these options shall vest immediately upon execution of this
                Agreement, with the remainder vesting proportionately each
                month over 24 months of this Agreement. These options will
                also be subject to other, additional terms and conditions to
                be addressed in the Assumed Plan.

          (iv)  The Company shall pay Executive an amount sufficient to
                offset any adverse tax consequence experienced by Executive as
                a result of the Company's acquisition of eMation.

     (d) Expenses. The Executive shall be entitled to receive prompt
     reimbursement of all reasonable business expenses incurred by the
     Executive in performing his services hereunder, including expenses
     related to travel, housing and other

                                      3
<PAGE>

     business expenses while away from home on business. Such expenses shall
     be accounted for under the policies and procedures presently established
     by the Company.

     (e) Other Benefits. The Company shall maintain and the Executive shall be
     entitled to participate in all of the Company's employee benefit plans
     and arrangements in effect on the date hereof including, without
     limitation, all pension and retirement plans, life insurance, health,
     accident, medical and disability insurance, and the Company's holiday and
     vacation plans. Notwithstanding the foregoing, the Company may make
     changes in any such arrangements provided that such changes are made
     pursuant to a program which is applicable to all executives of the
     Company and which changes do not result in a proportionately greater
     reduction in the rights and benefits to the Executive as compared with
     any other executive.

     Without limiting the generality of the foregoing, during the term of this
     Agreement, the Company shall

          (i)   maintain in force with Executive's designated beneficiary a
          $2,000,000 ten-(10) year, decreasing term life insurance policy;

          (ii)  maintain in force one or more disability insurance policies
          with a total benefit of $18,000 per month; and

          (iii) provide Executive with a monthly car allowance of $833 per
          month.

     The Executive shall also be entitled to participate or receive benefits
     under any future employee benefit plan or arrangement that the Company
     establishes for its key executives consistent with the general terms of
     any such future benefits plans.

     Whenever the term "compensation" or "compensate" is used in this
                        ----------------------------
Agreement, it shall mean the annual amounts (including all salary, bonuses, and
                                             ----------------------------------
benefits) calculated for the respective calendar year in accordance with the
--------
provisions of this Section III. Whenever the Company is required to make
payments to Executive under this Section or Section VII below, which payments
include bonus payments for a period or periods of time, which have not yet
occurred, Executive will be paid his bonus portion at no less than 100% of the
targeted amount.

                                      4
<PAGE>

                     SECTION IV. EXPENSES AND OTHER MATTERS
                     --------------------------------------

     Matters relating to expense accounts for Executive, and any additional
perquisites not already contained in this Agreement, shall be mutually agreed
upon from time to time. The Executive shall be entitled to a minimum of four
(4) weeks paid vacation during each calendar year, or, if a greater vacation
benefit shall be provided to the Company's senior executives, such greater
benefit shall be provided to Executive, in addition to all normal and customary
holidays observed by the Company.

     The Company shall, to the fullest extent authorized under the laws of the
State of Delaware, as those laws may be amended and supplemented from time to
time, indemnify the Executive upon being made, or threatened to be made, a
party to any actions suit or proceeding by reason of the fact that he is or was
an officer of the Company. The Executive shall be covered by the Company's
Directors and Officers Insurance policy and the indemnification provisions
contained therein. The Company is required to maintain such policy, or a policy
with similar terms and condition, in full force throughout the term of this
Agreement.

                     SECTION V. MEDICAL EXPENSES BENEFITS.
                     ------------------------------------

     Executive, his spouse and dependents shall be covered under the Company's
Group Insurance Medical Plan. Coverage under such plan shall be continued
during Executive's active or disabled status with the Company. The rights of
the Executive, his spouse and dependents to benefits under the Company's Group
Insurance Medical Plan are vested hereunder, notwithstanding any subsequent
termination of, or reduction of benefits under, such Plan by the Company.

                            SECTION VI. TERMINATION
                            -----------------------

     The Executive's employment may be terminated only under the following
conditions.

     (a) By Executive. The Executive may terminate his employment hereunder if

          (i)   the Board should fail to elect and appoint Executive as
                President or to an executive office possessing comparable
                duties and responsibilities;

          (ii)  there is a change in control (defined below) of the
                Company;

          (iii) there is a failure by the Company to comply with any
                material provision of this Agreement and such failure has
                continued for a period of thirty (30) days after notice of such
                failure has been given by the Executive to the Company;

                                      5
<PAGE>

          (iv) there is a purported termination by the Company of the
               Executive's employment which is not effected pursuant to the
               provisions of this Agreement relating to termination of the
               Executive's employment by the Company; or

          (v)  upon ninety (90) days written notice by Executive to the
               Company of his voluntary resignation.

          For purposes of this Agreement, a "change in control of the Company"
          shall be deemed to have occurred if (i) as a result of a tender
          offer, merger, consolidation, sale of assets or any combination of
          the foregoing transactions, the persons who were directors of the
          Company immediately before the transaction shall cease to constitute
          a majority of the board of directors of the Company or any successor
          to the Company; (ii) the Company shall be merged or consolidated
          with another operation, and as a result of such merger or
          consolidation, less than 50% of the outstanding voting securities of
          the surviving or resulting corporation shall be owned in the
          aggregate by the former shareholders of the Company; (iii) the
          Company shall sell substantially all of the assets of the Company to
          an unaffiliated corporation; or (iv) the acquisition by any
          corporation or group of associated persons acting in concert of an
          aggregate of more than 50% of the outstanding shares of voting stock
          of the Company coupled with or followed by the election as directors
          of the Company of persons who were not directors of the time of such
          acquisition if such persons shall become a majority of the board of
          directors of the Company.

     (b)  By the Company.

          (i)  The Company may terminate Executive's employment
               immediately for cause. A termination or discharge for "cause"
               is a termination by reason of the Board's good faith
               determination that (A) the Executive engaged in willful
               misconduct in the performance of his duties, (B) breached a
               fiduciary duty to the Company for personal profit to himself,
               (C) willfully violated any law, rule or regulation of a
               governmental authority with jurisdiction over the Executive or
               the Company at the time and place of such violation (other
               than traffic violations or similar offenses) or any final
               cease and desist order of a court or other tribunal of
               competent jurisdiction, or (D) materially breached this
               Agreement. No act, or failure to act, on the Executive's part
               shall be considered "willful" unless he has acted, or failed
               to act, with an absence of good faith and without a reasonable
               belief that his action or failure to act was in the best
               interests of the Company.

                                      6
<PAGE>

          (ii) The Company may terminate Executive's employment at any
               time during the term of this Agreement for any reason other
               than for cause or defined above, upon ninety (90) days written
               notice to Executive.

                  SECTION VII. COMPENSATION UPON TERMINATION.
                  ------------------------------------------

     If the Executive shall terminate his employment hereunder as provided in
Section VI(a)(i)-(iv) hereof, if the Company shall terminate the Executive's
employment for any reason other than for cause, or if the Company shall have
given the Executive written notice that the Employment Agreement shall not be
extended, the Executive shall be paid his full compensation through the date of
notice of termination and, in addition, shall be paid, in a lump sum, an amount
equal to the remaining compensation due under the Agreement, or else
Executive's total compensation for a period of twenty-four (24) months,
whichever is greater. Such lump sum payment shall not be reduced by any present
value calculation nor by any other amount and shall be paid to the Executive
within thirty (30) days of the Executive's date of termination. In addition,
all stock options previously granted to Executive shall become immediately and
fully vested, and subject to exercise according to and in compliance with the
Assumed Plan and Sections III(c)(ii) and (iii) set forth herein and the
Internal Revenue Code.

     If the Executive's employment is terminated by the Company for cause, or
if Executive shall have voluntarily resigned his employment, or if Executive
notifies the Company of his intent not to extend this Agreement, or in the
event the Executive dies during his employment hereunder, or if by reason of
illness or other incapacity, Executive should be unable to perform the services
agreed upon herein, Executive shall be entitled to any and all compensation
payments previously agreed upon by Executive and the Company through the date
of termination, plus any and all other vested benefits under any profit sharing
or other plan of the company in accordance with the terms and conditions of
such plan, and no further payments.

     If the Executive's employment is terminated because of any breach of this
Agreement by the Company, the Executive shall be entitled to any other damages
which he may sustain as a result of such breach including damages for loss of
benefits under any of the Company's benefit incentive compensation, retirement
income, or other plans that the Executive would have received had his
employment continued for the full term provided for in this Agreement. In
addition, the Executive shall also be entitled to recover from the Company any
legal fees or other expenses incurred by the Executive as a result of the
Company's improper termination hereof.

     The Executive shall not be required to mitigate the amount of any payment
provided for by this Agreement by seeking other reemployment or otherwise.

                                      7
<PAGE>

                          SECTION VIII. CONFIDENTIALITY
                          -----------------------------

     Recognizing that the knowledge and information about, or relationship
with, the business associates, customers, clients and agents of the Company and
its affiliated companies and the business methods, systems, plans and policies
of the Company and of its affiliated companies which Executive has heretofore
and shall hereafter receive, obtain or established as an employee of the
Company or otherwise are available and unique assets of the Company, Executive
agrees that, during the continuance of this Agreement and thereafter, he shall
not (otherwise than pursuant to his duties hereunder) disclose without the
written consent of the Company, any material or substantial, confidential or
proprietary know-how, data or information pertaining to the Company, or its
business, personnel or plans, to any person, firm, corporation or other entity,
for any reason or purpose whatsoever. Executive acknowledges and agrees that
all memoranda, notes, records and other documents made or compiled by Executive
or made available to Executive concerning the Company's business shall be the
Company's exclusive property and shall be delivered by Executive to the Company
upon expiration or termination of this Agreement or at any other time upon the
request of the Company.

     The obligations of the Executive specified in this paragraph shall not
apply and the Executive shall have no obligations with respect to any
information which (a) is disclosed in a printed publication available to the
public, is otherwise in the public domain at the time of disclosure, or becomes
publicly known through no wrongful act on the part of the Executive (b) is
obtained by the Executive lawfully from a third party who is not under an
obligation of secrecy of the Company, (c) is generally disclosed to third
parties by the Company without similar restrictions on such third parties, or
(d) is approved for release by written authorization of the Company.

     The provisions of this Section VIII shall survive the expiration or
termination of this Agreement or any part thereof, without regard to the reason
therefore.

     Executive hereby acknowledges that the services to be rendered by him are
of a special, unique and extraordinary character and, in connection with such
services, he will have access to confidential information concerning the
Company's business. By reason of this Executive consents and agrees that if he
violates any of the provisions of this Agreement with respect to
confidentiality, the Company would sustain irreparable harm and, therefore, in
addition to any other remedies which the Company may have under this Agreement
or otherwise, the Company will be entitled to seek an injunction restraining
Executive from committing or continuing any such violation of this Agreement.

                                      8
<PAGE>

                      SECTION IX. COVENANT NOT TO COMPETE
                      -----------------------------------

          1.   Executive acknowledges and agrees that by entering into this
Agreement with Company and engaging in the employment relationship contemplated
hereby, Executive will be performing significant duties on behalf of Company
and will be exposed to certain valuable know-how and information relating to a
highly competitive industry. Executive also acknowledges and agrees that the
covenants set forth in this section are a material part of the consideration
bargained for by Company, and without Executive's agreement to be bound by such
covenants, Company would not have agreed to enter into this Agreement or to
engage Executive's services.

          2.   Executive agrees that during the term of this Agreement, and
for one  (1) year after any termination with or without Cause or by the
Executive, Executive will not, directly or indirectly, (i) solicit, divert,
recruit, induce, encourage or attempt to influence any client, customer,
employee, consultant, independent contractor, salesman or supplier of Company,
to cease to do business, decrease the level of business, or terminate his or
her employment or otherwise cease his, her or its relationship with Company, as
the case may be, or (ii) engage in (as a principal, agent, owner, consultant,
partner, director, officer, employee, stockholder, investor, lender or
otherwise), alone or in association with any person or entity, or be
financially interested in or otherwise connected with any business in any
activity similar to or in connection with the specific activities of Company,
and which such business activity is to produce, manufacture, import, market or
distribute in the United States or Europe or Asia any product or service (A)
which was produced, manufactured, imported, marketed or distributed by or for
Company at any time or (B) which Company as of the date of termination had a
specified marketing plan to produce, manufacture, import, market or distribute
within six (6) months of termination ; provided, however, that nothing
                                       --------  -------
contained in this Agreement shall prevent Executive from holding for investment
up to 5% of any class of equity securities of a company whose securities are
publicly traded (other than Company as to which there shall be no such
limitation).

                               SECTION X REMEDIES
                               ------------------

     Executive acknowledges and agrees that: (a) the covenants set forth in
section IX are reasonable and are essential to the business interests and
operations of Company; (b) Company will not have any adequate remedy at law if
Executive violates the terms hereof or fails to perform any of Executive's
obligations hereunder; and (c) Company shall have the right, in addition to any
other rights it may have under applicable law, to obtain from any court of
competent jurisdiction preliminary and permanent injunctive relief to restrain
any breach or threatened breach of or otherwise to specifically enforce any
such covenant or any other of Executive's obligations under this Agreement, as
well as to obtain damages and an equitable accounting of all earnings, profits
and other benefits arising from such violation, which rights shall be
cumulative and in addition to any other rights or remedies to which Company may
be entitled.

                                      9
<PAGE>

                     SECTION XI. DEDUCTIONS AND WITHHOLDING
                     --------------------------------------

     Executive agrees that the Company and its affiliated companies shall
withhold from any and all payments required to be made to Executive in
accordance with this Agreement all federal, state, local and other taxes that
the Company or any such affiliates determine are required to be withheld in
accordance with applicable statutes and regulations from time to time in effect.

                  SECTION XII. ASSIGNABILITY AND BINDING EFFECT
                  ---------------------------------------------

     The rights and obligations under this Agreement shall inure to the
benefit of and shall be binding upon the heirs, executors, administrators,
successors, and legal representatives of Executive, and shall inure to the
benefit and be binding upon the Company and its successors (including, without
limitation, any person, firm, corporation, partnership or entity who succeeds
to the business of the Company), but neither this Agreement nor the rights or
obligations of Executive hereunder may be assigned, pledged, hypothecated or
otherwise transferred by Executive to another, person, firm, corporation or
entity without Company's prior written consent, nor may the obligations of
Executive hereunder be delegated to any person, firm, corporation or entity.

                             SECTION XIII. NOTICES.
                             ----------------------

     All notices, requests, demands and other communications hereunder shall
be in writing and shall be delivered personally or sent by registered or
certified mail, prepaid and return receipt requested, to the other party hereto
at his or its mailing address as set forth on the signature page of this
Agreement, and in the case of the Company, marked to the attention of Francis
E. Wilde, Chief Executive Officer, or his successor in interest. Either party
may change the address which such communications hereunder shall be sent by
sending notice of such change to the other party as herein provided.

                            SECTION XIV. SEVERABILITY
                            -------------------------

     If any provision of this Agreement of any part hereof is invalid,
unlawful or incapable of being enforced by reason of any rule of law or public
policy, all conditions and provisions of this Agreement which can be given
effect without such invalid, unlawful or unenforceable provisions shall,
nevertheless, remain in full force and effect.

                              SECTION XV. WARRANTY
                              --------------------

     Executive warrants and represents that he is not and will not become a
party to any agreement, contract, arrangement or understanding, whether of
employment or otherwise, that would in any way restrict or prohibit him from
undertaking or performing his duties in accordance with this Agreement.

                                      10
<PAGE>

                          SECTION XVI. BOARD APPROVAL
                          ---------------------------

     By execution of this Agreement, the Company acknowledges that this
Agreement has been reviewed and adopted by a resolution approved by a majority
of their members of the Board.

              SECTION XVII. COMPLETE UNDERSTANDING; PRIOR AGREEMENT
              -----------------------------------------------------

     This Agreement constitutes the complete understanding between the Parties
with respect to the undertaking of Executive hereunder, and no statement,
representation, warranty or covenant has been made by either party with respect
thereto except as expressly set forth herein. Unless otherwise specifically
referred to herein, this Agreement shall, from and after the Effective Date,
supersede, in all respects, all previous agreements in regard to employment
between Executive and the Company, and Executive shall, as of the Effective
date, unless otherwise specifically referred to herein, have no rights under
such agreement all of which merged herein and shall be governed hereby. This
Agreement shall not be altered, modified, amended or terminated expect by
written instrument signed by each of the Parties hereto.

                          SECTION XVIII. GOVERNING LAW
                          ----------------------------

     This Employment Agreement shall be governed by, and construed and
enforced in accordance with, the law of the Commonwealth of Massachusetts. The
Courts of the Commonwealth of Massachusetts and the United States District
Court of the District of Massachusetts, shall have exclusive jurisdiction over
any dispute relating to this Agreement.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
this _____ day of May 2001.

6/27/01                                \s\ Dale Calder
------------------                   --------------------------------
Date:                                 Dale Calder

                                      RAVISENT Technologies Inc.

6/28/01                               By:\s\ Francis E. Wilde
------------------                       -----------------------------
Date:                                    Francis E. Wilde
                                         Chief Executive Officer and President

                                      11

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